Making a Refit More Affordable

We’ve all been there….you look around your shop one day and things look outdated and tired. 

There are scuff marks on the shelving, the fixtures and fittings are bent due to asking too much of them in years gone by, a light is out in your display case, and the whole place could do with a facelift.

But then you ask yourself the question that we get asked time and time again – does it really matter what the shelving looks like? Isn’t investing money in my stock the most important thing? My customers are not there to buy the shelving, they are there to buy the product.

And while these questions have merit, owners need to consider what kind of impact giving their store a facelift could have on their business. When researched correctly with all factors taken into consideration, a refit could offer a lucrative return on investment.

It is worth considering what kind of clientele you serve. For me personally, I am far less likely to buy things from places that look run down and old. To me, having gorgeous items merchandised on old display racks that are falling apart cheapens the product, and makes the quality of the stock look poor.

But a different type of customer (I’m looking at you, Mum), would be happy to dive head first into an old sale rack with the wheels falling off and a faded sale sign on top, rummaging for a bargain.

After all, some consumers believe the less thats spent on overheads, the cheaper a business can sell their goods for.

Before making a decision, keep in mind there is also the Occupational Health and Safety aspect to consider. Once loaded with stock, retail fixtures can be extremely heavy – are your fixtures so old that they are a hazard and pose a risk to your business or customers? If so, it’s time for them to go.

After weighing up all of the above, and any other factors relevant to you, it could be more affordable than you think.

Below are some ways of making your refit more achievable financially.

– Depending on your circumstances, it is likely that the shelving you buy will be tax deductable or tax depreciable, so have a chat with your accountant to see what your business is entitled to.

– There is no need to replace everything at once. You could choose a product every week, month, or whatever the business can afford and replace things one by one. As discussed above, anything that poses a risk needs to be replaced first. Keep in mind when making the decision whether to replace ‘one’ or ‘all’,  that buying in bulk is more likely to attract a heavier discount, so weigh up your options at the time.

– If you do decide to complete a full refit, look at various Afterpay options that don’t attract any interest. These are a great option for small businesses that want the product straight away but can’t afford to pay up front.

– Sell your old fixtures on eBay, or offer them to the business you are buying your new storage systems from, as a trade in. Sometimes the best a business can do is to take them away for free, but this can also be helpful as fixture removal often attracts a fee. If they are in excellent condition you might have some extra spending money to put towards your new shop!

The old saying ‘You’ve gotta spend money to make money’ certainly applies when it comes to your fixtures and fittings. Making smart decisions can have a huge impact on sales in the long term, and when all of the above is taken into consideration, there is every chance your new shelving will be making you money in no time.