When you are a business owner, it is important that you plan for the worst so that your business isn’t put in a risky position the next time something major happens and you don’t have the funds to cover it. Making a budget that helps you save for major things that are sure to come your way as a business owner is the best way to do it. There are always going to be capital improvements that show up as a business owner, and you need to be ready for it. Andersen Asphalt & Striping is here to talk about what capital improvements are, and why it’s important to plan for them.
Benefits of Business Using Budget
When you sit down and set a budget for your business, it gives you a chance to look at your business from several different angles. Here are some of things that you will consider when you’re figuring out a budget:
– Performance targets
– Property management reviews
– Income & expense projections
– Capital improvements
– Potential problems
What Are Examples of Capital Improvements?
A huge item on that list above is capital improvements. These improvements can break your business if you haven’t planned appropriately for them. Improvements are something that is simply part of being a business owner. When you plan for these large improvements, it can help you stagger these expenses so that you are blind-sighted by them when they start to pop up unexpectedly on you. Some capital improvements may include:
– Area Improvements: This would include improvements to the building like new paint, lighting upgrades, carpet replacement, and parking lot maintenance. One of the items that should be a priority is parking lot maintenance. When your parking lot isn’t properly maintained, it puts you in a position to completely replace the asphalt much sooner than you would normally need to. This can be avoided by having your parking lot seal coated every three years to keep it protected. This is one of the first things your customers see, and you want to make sure to make a good first impression.
– Major Building System Upgrades: When talking about major building system upgrades this would include the building’s HVAC system, the roof, window replacement and other large upgrades that are necessary every 15-20 years.
– Individual Unit Upgrades: If your commercial building has individual units, you may need to do small upgrades to them along the way.
Asphalt Pavement Seal Coating, Striping Services & More in Reno, Elko, Henderson, North LV, Paradise, Spring Valley, Sunrise Manor, Las Vegas, NV | State of Nevada
If you haven’t given your parking lot the love it needs, you can turn to Andersen Asphalt & Striping to not only make sure it gets the seal coating that it needs, but that the striping has been touched up too so that it is visible to all of your customers. We will make sure your parking lot is properly cared for. Call us today!