Whether you are building the first location of your commercial business, remodeling to increase revenue, or relocating, you should prioritize creating a space that boosts employee productivity while attracting and converting clients. Additionally, your property should reflect your brand and company culture. To actualize your vision, you will need to work with a professional commercial interior designer.
Designing a commercial property within a set budget is easier said than done if you lack experience and expertise. Seemingly small details can quickly spiral into costly mistakes, especially when you tack on out-of-control inflation, rising interest rates, and the looming concerns of a recession. Although it may seem counterintuitive, you must invest in your interior design if you expect your business to see massive growth while others hide behind fear and fall behind.
In this Design Journal, we share advice to budget for your commercial interior design project and how it will elevate the success of your business in the long term.
Why Your Business Should Hire a Commercial Interior Designer
New commercial construction shows no signs of slowing down, even though we hear constant chatter about the poor state of the economy. To stay ahead in any of today’s hyper-competitive industries, you must offer value to both your employees and clients if you want to retain their attention and loyalty.
Working with a luxury interior designer will ultimately benefit your business in the following ways:
Stay Within Your Business Budget
You may be tempted to think hiring an interior designer will cost you more money, but if you work with the right person, the opposite tends to be true.
With all of the planning, sourcing, procurement, and management involved in a design project, you will likely will end up exceeding your set budget while spending precious time that could’ve been spent running your business operations. Time is money, after all.
Managing a design project and running your business is not a one-man (or woman) show. Due to a lack of experience, expertise, and design connections, you will likely exceed your budget while exhausting the time that could’ve been spent running your business.
Optimization of Space & Functionality
A great designer will support the development of your space in a way that is functional, cost-effective, and beautiful.
By optimizing Feng Shui, or the energy flow of a space, in addition to implementing strategies that maximize efficiency, employee wellness, and customer experience, you will establish a framework for the greatest return on your property investment.
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A Foundation for Future Growth
An experienced commercial interior designer will be able to forge a space that allows for future growth. With the big picture, they will create an environment that will be versatile and adaptable. If you intend to expand your business, your layout should be guided by your ultimate vision.
The Essentials for New Business Design
The pandemic has largely pushed companies to rethink their office design due to current hybrid models and the desire for wellness-centric work environments. The function of floorplans, technology, and furniture is shifting with the times.
According to the 2022 Office Fit Out Guide from JLL, commercial properties need to adapt and budget for the following:
Support for Mobility and Shifts in Work Cadences
An estimated 64% of workers state they have considered quitting if they were asked to work in the office full time. Therefore, future business spaces should consider designing future spaces that emphasize the hybrid style through custom collaboration and community spaces that support in-person communication.
Tech-Centric Design
In alignment with the hybrid work style, there should be “virtual conference rooms” to allow for video calls and presentations. Therefore, the infrastructure should incorporate technology for seamless audio-visual communication.
Sustainability at the Forefront
The global economy is moving towards the goal of net-zero carbon, so sustainability is rapidly becoming the standard for luxury design. Many high-end consumers are prioritizing sustainability efforts when it comes to the brands they engage with.
Employee Wellness as a Top Priority
The impact of the work environment on employee health is increasingly clear. Whether preventing the spread of viral transmission or boosting cognitive function and emotional well-being, your business needs to prioritize the wellness of your people.
Cost Factors to Keep in Mind for Corporate Interior Build-Outs
When budgeting for your design project, you will need to account for:
Hard costs – plumbing, electrical, and walls
Soft costs – architecture, engineering, project management, design fees
Furniture, fixtures, and equipment
Tenant elements – audio/visual installation, IT and technology
The quality of interior finishes drives the cost of a project, but finer finishes, woods, stones, doors, and other additions tend to be worth the investment, as they are more durable and will attract a higher-end clientele.
Additional factors impacting the cost are the complexity and office style of the project.
Progressive
A progressive office style focuses on open-office floor plans with bench-style desk seating and a few small offices for group work. A basic progressive project focuses on function while a high-complexity project incorporates unique and flexible features and integrated technology.
Moderate
This type of floor plan would encompass several workstations in an open floor plan with a decent number of private offices. Medium-size conference rooms would allow for private, focused collaboration.
Traditional
A traditional office environment is composed primarily of dedicated, private offices. Conference spaces and shared areas tend to be larger for employees to convene.
Keep in mind, the cost of a buildout may also be affected by the location and season. Weather variables impact transportation, material, and labor costs. Additionally, the kind of business you own will impact the necessary equipment and furniture your space will need.
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Grow Your Business with InterLux Interiors
Designing a corporate space is a considerable undertaking that requires a great deal of planning. With this guide, you can gain some insight into how much you need to budget. Although you may be able to approximate, a luxury interior designer can help you better understand the scope of your project and a better cost estimate for what you are envisioning.
Office tenants desire customizable and creative environments with plenty of flexibility. This creativity is defined by those who occupy it, so you must understand your brand culture and the psychological impact you want to have on your team and clients.
If you are ready to invest in upgrades that are sure to help your business expand, contact InterLux Interiors to start the process.