Sou Fujimoto
Photo credit: Quadrum Studio
budget killers, qu’est-ce que c’est?
It’s pretty easy to get carried away when planning your dream retail setting. I mean who doesn’t want a full wall interactive digital wall and handmade chandeliers? I do believe in going to eleven and turning it down when & where needed. As a designer, it’s my job to show you all the possibilities. That WOW factor. And then it’s also my job to edit thoughtfully. Take the best of what works, massage that budget in the right spots, and achieve the dream look on the reality budget.
It’s sometimes a struggle to decide what is actually going to drive sales and increase foot traffic. You’re likely going to have to make some tough love decisions when it comes to the budget. We’ll go through a few ways you can save money and not sacrifice the vibe, function and quality you’re after.
Here’s a rundown of the top high ticket items that can obliterate your budget if you’re not careful. Believe me, there are plenty more. And a few of our favorite workarounds for each to give you some great options. Our goal here is always to have high quality, durable, elements in your retail dispensary, store or salon that also resonate with your customer and stay true to your brand.
Aivan
Lighting: These suckers add up fast if you’re not paying attention. Strategic placement of lights can highlight key areas, creating a visually exciting atmosphere. You need energy efficient general lighting, but you’re also going to want accent lights. And task lighting that highlights your products. Light fixtures are not unicorns. Nearly every designer fixture will have a comparable, same look less pricey cousin out there. Go for the knockoffs as long as they are US rated safe, have the right wattage and reasonable shipping times.
Stone: Swapping out expensive natural stone elements for similar, less expensive materials is a huge budget saver. A great example of this is concrete countertops. We love the look and while concrete seems fairly budget friendly, it can sometimes get expensive due to the labor involved. I love swapping it for Caesarstone in the Raw Concrete color. Know what you’re buying though and look closely at the durability. Some materials are more prone to staining and damage from heavy duty cleaners.
Floors too. Often you can achieve the look and durability of a spendy travertine or terrazzo by refinishing, polishing & staining the existing floor instead of laying a new one. Your contractor will help you decide if leveling is necessary or any major repairs.
Display Fixtures: Non-modular custom fixtures can be really expensive. Once you layer in the locks, soft close drawers, LED lighting and glass options and materials you may be sticker shocked. Where possible, opt for modular and versatile fixtures that can adapt to changing needs. This not only saves money in the short term but also allows for easy updates without a complete overhaul. Think adjustable shelving, movable displays, and flexible furniture. This is especially true when you’re merchandising branded merch. You want flexibility so that in the case the sweatshirts aren’t selling and you’re switching gears to beanies, you can easily adjust the shelving to accommodate the change.
Recycled: This one can be tricky, but sometimes you will find a business going out of business and they will sell off their display units. Triple check the measurements, conditions and quality before you purchase. (no returns) Also figure out how you’re going to deliver them to your location. Do they need repair work? Touch ups? Maybe a refinish?
Shipping & Storage: Think of this as bulk ordering. A trip to Costco versus driving to every specialty store in town. If your location is not quite ready for everything to be delivered, consolidating all your store purchases to a storage warehouse may be a money saver. Most will have people to inspect and receive your items, catalog and store them. When you’re ready you can have it delivered. Buying local and scheduling pickup can also be a huge cost savings.
Vendor Discounts: Depending on the vendor, you can ask for any deals, terms or discounts. Your contractors typically get a discount on building materials, but you can also ask for qty pricing on things like general lighting, large fixture orders and display pieces. Get comfortable asking for a deal! If you can contact the sales rep you’re more likely to get a better price than just asking customer service. Especially if you’re ordering for multiple locations.
Prioritize: While everyone would love a fully furnished, accessorized flagship store, sometimes it’s just not in the budget or timeline. You can add these items back into your monthly operational cost budget over the next cash positive months after opening if needed. Examples include: wall art, potted plants, selfie walls, product risers.
Get a Second Opinion: Having a second set of eyes on both the ff&e and the budget is really important. Sometimes we get our brains fixated on a specific item and overlook the price tag. Having someone who knows your store and brand give their honest feedback can be so useful. Even better if they own/run/opened a retail store in the recent past. They’re also a great source for reliable contractors, fabricators and trades.
