This is a question often considered by retailers. The simple answer is yes. Shop fittings are an asset to your business – not only tangibly, but also in an intangible sense.
Tangibly, shop fittings are considered a fixed asset on your asset register. This means that shop fittings should last for more than a year and gradually depreciate in value. These assets add value to the creation or delivery of a product. They aren’t generally used for liquidation purposes. You should contact your accountant to learn more about how to add your shop fittings to your fixed asset register.
Intangibly, shop fittings have a benefit on your business’ performance and bottom line. By having a professional shop fitter design your store, you could see benefits in the following areas:
1. Better display areas:
Having well-designed display areas helps to showcase the benefits of your products. These display areas can also be uniquely designed to accommodate the particular merchandise of your business. In addition, they should be able to display new merchandise when you receive it without having to rearrange the shop.
2. Easier navigation in your store:
Great shop fittings should help your customers to easily navigate through your store without getting lost. If you are a large department store, it is important to have a shop map in strategic areas of your store to help your customers find what they are looking for.
3. Relaxing and pleasant shopping experience:
Many customers go to shops for a relaxing experience. By encouraging shoppers to browse through your store they may decide on making bigger purchases or even adding more to their purchases. Another benefit is that it will encourage them to return to your store because of the experience the first time around. They could also share their experience on social media platforms which could help with your word-of-mouth advertising.
4. Increased store profitability.
Your store will become more profitable as more people will spend money in it if they have a pleasant experience in your store. This experience is enhanced by ensuring that your shop fittings compliment your products as well as offer a great experience to your client.
5. Increased visibility of your brand.
Your store is a visual billboard for your business. By having shop fittings that compliment your brand identity they will help to increase and strengthen the brand with your client.
With these benefits in mind, we can see that shop fittings are definitely an asset for your business not only are they an asset when it comes to your asset register but they also assist your business to grow its brand identity and increases your bottom line.
