The total size of a commercial building has been trending up. The average size was around 16,300 square feet in the 1990s compared to 19,000 in the 2000s. EIA research shows size still rising as recently as 2012.
With larger buildings representing nearly 20% of commercial stock, odds are growing that any one business will be in a bigger space. While a newer building means better construction techniques and more durable materials, it also means costs associated with square footage.
Many business owners are tempted to cut back on discretionary spending. Before you put off repainting your commercial building, though, it’s a good idea to assess the advantages the right paint job can offer:
1. Rebranding and Reinvention
Businesses are looking for ways to entice the public back in for a visit. Now is the ideal time to push forward on your rebranding initiatives and show you are here for your community. If you are making deeper changes, like a change in your brand name, new paint helps you bring the message home.
The bigger the changes you make on the inside, the more important it is that those changes are reflected on the outside. For example, many local restaurants are eager to increase takeout business. Paint that looks fresh and new creates the feeling of a safe, cared for, and clean space.
2. Reducing Visible Damage
Paint damage can accumulate over time in virtually any environment. The hot, humid climate offered by much of Florida accelerates wear and tear on your coatings. The hot summer sun drives UV damage and fading. And, of course, storm activity can age your property overnight.
No matter where you are, it’s a good idea to review your building’s exterior for cracking, blistering, and other visible signs of wear. These can make your building look uninviting. Diminished curb appeal can drive visitors to more modern-looking competitors – and may even attract criminals.
3. Meeting Regulatory Requirements
Although it’s relatively rare, there are times when you can attract fines or legal liability by failing to update your paint. If you discover lead-based paint is in use in your building, for example, many states and some cities require you to have it replaced promptly.
Some business districts have more comprehensive rules related to the appearance of your property. Just as landscaping protects you against slip and fall claims, painting your building can help you protect your workforce and the public from workplace safety hazards.
4. Keeping Up with Competitors
Many of your local competitors are locked in the same challenging cycle – aiming to maximize foot traffic in a business environment where most people want to stay home. While “keeping up with the Joneses” is usually time wasted for a homeowner, it is essential for a business.
If you notice other companies in your area are sprucing up their looks, don’t be the one left behind. The neighborhood could be moving in an all-new direction, and your new paint job will help ensure you are a part of it. Even historic buildings can get a paint job that aligns with their value and aesthetic.
5. Protecting Your Investment
New paint isn’t just about aesthetic appeal. The right commercial coatings have performance qualities that will help you save money. From waterproofing to advanced metal painting, there are abundant opportunities to get measurable ROI on your coating investments.
An experienced team of painting contractors can help you narrow down your options based on your needs. You can protect exteriors from weather and prevent corrosion, salt damage, and other issues that – if unchecked – could diminish your property value and raise your maintenance costs.
6. Raising Your Team’s Morale
There is someone out there who thinks about the future of your business almost as much as you do: Your employees. Team members notice when maintenance budgets are cut and things start to go downhill. The idea that you have “checked out” can contribute to turnover among front line personnel.
Long-term employees are an asset that appreciates in value, and you can help keep them engaged by showing your business has a solid future. A repainting project is a great way to show your commitment. It speaks volumes about where you see your business in five years.
7. Maintaining Market Value
If you own your commercial space, then painting acquires a whole new dimension of urgency. You might want to sell the building or lease it out to other enterprises in the future. Either way, a new paint job is one less issue that new tenants will have to invest in, which can be decisive.
Looks are only the start when it comes to a commercial painting project. The right paint job helps you make a great impression, shore up your maintenance costs, and leverage new opportunities as they come.
