Just how important is new parking lot paving for your business?
If you were to create a wish list of improvements you could make to your business, the reality is that a new parking lot might be just one of many line items. Why is a parking lot so important for your business, and what makes it a worthy investment?
Here are five ways in which your business is impacted by a brand-new parking lot!
When it comes to your business’s ability to attract new customers and keep current customers happy, the importance of curb appeal cannot be overstated.
Your parking lot is one of the first things that people see when they drive by your business. If your parking lot is in poor condition, customers can easily choose your competitor instead. If your parking lot is in good condition, on the other hand, you put your company in a better position to be able to earn their business.
A new parking lot doesn’t just look good. It also keeps your employees and customers safe, and it is more compliant with fire and ADA codes and regulations.
As old asphalt breaks down—leaving large cracks and potholes scattered across your pavement—it becomes a hazard. A pedestrian could easily trip, or a vehicle could be damaged.
Rather than opening your business up to a potential lawsuit, invest in a new asphalt parking lot that is safe for everyone to use.
3. Property Value
A brand new asphalt parking lot increases the overall value of your property—so much so that you can raise your asking price and field more competitive offers when it comes time to sell your property.
Damaged asphalt, on the other, reflects poorly on you as a property owner. It may even prevent you from getting offers for your property altogether.
While it’s true that new asphalt paving is a large expense, it is still more cost-effective than trying to constantly maintain and repair old asphalt.
As asphalt pavement ages, the oxidation process causes it to become brittle and increasingly vulnerable—to the point where damage is both more frequent and more severe.
Given that the overall cost to keep your old asphalt serviced is usually much higher than the cost of new asphalt, it’s best to invest in new pavement and spend significantly less money over the life of your asphalt.
5. Tenant Turnover
If you’re a property owner, you know that tenant turnover can be both inconvenient and expensive. Wouldn’t you much rather have good tenants occupying your space for longer periods?
Having a new and well-maintained parking lot will go a long way toward keeping your tenants happy and content where they are—minimizing turnover as a result.
At Empire Paving, we are the Greater Toronto Area’s (GTA) paving experts for parking lots and other surfaces. Contact us today for all of your commercial asphalt paving needs. We will even give you a free quote for your next project!