Your Business Timeline for Capital Investments and Expenditures

Part of business is knowing when to invest money and spend money to make improvements that will bring the company to the next level. For many business owners, wisely choosing capital investments and expenditures means knowing when to finally repair the roof of the warehouse and when to let it go one more year and put the money elsewhere. 

Now that we are at the back half of the fiscal year, you may be wondering if it is time to spend your capital expenditure budget on the exterior renovations to your office, warehouse, or other company property. If this is the year you finally make the repairs and upgrades you have been putting off for a few years, here is a timeline to consider so that you can be sure you meet your budget timeline and requirements.

Start with an Evaluation

You may not need a brand new roof quite yet, but your siding may be on its last leg. The best way to start your capital expenditure process is to get a thorough evaluation from an expert. Call in someone to evaluate how many more years you have with your current exterior features, and which ones should be replaced sooner than later.

Bid It Out

After you have reviewed recommendations from experts, it’s time to develop some short and long term goals for your company. This process will help you know which exterior upgrades you need to do now versus which can be put off a few years.

Then, it is time to be responsible and bid out the job. A general rule of thumb is to bid out the job to at least three companies. Assure the scope of the job you are describing is the same for each bid. While it may seem like the best decision to go with the lowest bid, you may decide that paying a bit more is the best overall decision for your company at this time.

Hold Them Accountable

Once your contract begins, be sure you are holding your construction team accountable. Communication is key, and we recommend meeting with your representative on the job at least weekly to keep up with any complications or timeline adjustments.

When you are ready to bid out your exterior renovations or upgrades, be sure to call the team at Roberts Restoration. Our experts are ready to assist with your commercial roofing needs anywhere in the northern Illinois and southern Wisconsin areas.

Call any of our offices to get started today.