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Staying Competitive Through Remodeling
In the United States there are more than 990,000 restaurants, approximately 700,000 chain and independent retail firms, and more than one million brick and mortar outlets. The competition for customers is, to say the very least, fierce. Such intense competition means that restaurant and retail operators must keep racing forward to attract new and returning customers, and the race never ends. Many businesses have lasted for decades because they have been able to keep pace with changing trends, to “go with the flow” by continually updating and improving their brand image. Tenants can remain viable and attractive by remodeling.
Transitioning with the Times
Remodeling can help restaurant and retail operators compete, grow and thrive over the long term, and is often less expensive than building from the ground up. A remodel can range from a minor change, such as installing new carpet, to a major change, such as restoring the entire exterior of the building. Part of knowing what to focus on in a remodel is understanding what attracts customers and makes them happy. For example, reconfiguring the kitchen area to open up to the dining area is one such current crowd-pleasing remodeling trend that has been highly successful for restaurants. This open concept creates more transparency between the diners and the restaurant staff. Customers love watching the food being prepared and seeing into the chaotic, noisy kitchen atmosphere. It is all part of a new kind of dinner show.
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