Here at The Refinishing Touch, we hope that individuals, organizations, and institutions understand how valuable furniture is as both a long-term investment and asset. Last month, we began a series about furniture asset management and tips for success with asset evaluation. In our second segment of this series, we explore the long term implications when evaluating your budget.
Tip #2: Thinking beyond cost
After you have taken inventory of your furniture and determined long term goals for your company, think about the implications of buying new furniture. You might determine that you have the budget to do so and it may seem like most simple and obvious course of action, but consider thinking, however, beyond purchase price. While The Refinishing Touch has saved its clients, on average, 80 percent in furniture costs, there are other factors to consider.
Many organizations are gaining accolades for sustainability initiatives and environmental consciousness, such as Gaylord Hotels. Customers, whether in the hospitality sector or elsewhere, are being encouraged to support companies who make the extra push to remain green and because of this, restoring or modifying current assets instead of buying new can lead to a more positive relationship with your client base.
Upgrading current furniture, rather than replacing it entirely, benefits the environment by significantly reducing waste as well. Clean the World is just one example of a company turning potential waste into a valuable resource. The Refinishing Touch has helped customers who chose to refinishing conserve 90 percent in carbon emissions, as compared to buying new. Furniture asset management allows companies to not only save our earth from thousands of tons of wood and material, but to also preserve quality—current hotel furniture is often of superior quality than newly manufactured furniture, and therefore will last longer once preserved than others may last new.
Cost, while an important factor in furniture asset management, cannot be the only consideration. To be successful, it is vital to think beyond the dollar signs. Refinishing current assets not only saves on the bottom line, but also saves our environment, of which customers, in the hospitality, government and higher education industries, are becoming more and more conscious.
For more information about furniture asset management or to get a free project quote, visit our website at https://www.therefinishingtouch.com/.