Modular buildings have been around for a long time, so they are not a new concept by any means. However, now more than ever, businesses are looking for more affordable ways to house their business operations and want a quicker return on investment. With the significant savings on offer from budgets to timescales, modular buildings are offering the financial results that organisations are looking for.
It is fair to say that modular buildings have stood the test of time and with good reason. They are hard-wearing, easily maintained and provide many benefits to businesses, from ease of planning to energy efficiency. With the many financial benefits that modular buildings offer, companies can experience a great return on investment.
5 financial benefits of modular buildings
In a competitive marketplace, businesses are looking for ways to maximise their productivity and minimise costs, so let’s look at how modular buildings can do just that.
Faster Construction Times
Because of the modular nature of the construction process, modular building manufacturers have a much shorter construction time than that of a traditional build. This reduced timeline leads to reduced labour costs, and fewer workers are required for groundwork; these are cost savings that can be passed onto you as the end user.
The Construction Leadership Council (CLC) reports that modular construction can see labour cost savings of up to 15-20%, which adds to the efficiency of costs attributed to modular buildings.
A traditional building can take up to 12 months to complete, whereas a modular structure can be ready to move into in a matter of weeks. This means that your business can be up and running sooner. By opening your business premises and operating more quickly, you are making money and starting work on getting a return on your investment faster than if you were waiting for a traditional build to be finished.
Confidence in your budget
Particularly in current uncertain financial times, supplies and material costs fluctuate considerably. Taking on a building project can feel daunting, and keeping costs under control can feel impossible. The instability of the supply chain can impact a traditional build significantly due to the previously discussed length of time they take to complete.
The uncertainty of costs can be relieved with the benefit of a shorter project timeline, like that provided by modular buildings. Furthermore, because modular building companies plan and purchase their supplies in advance, they can agree on costs at the beginning of your project. Once your quote is approved and accepted by you, you have the confidence of no unexpected surprises on your building, and it helps to keep more control of your finances.
Clearer time scales
Once you have given the go-ahead on your project, you can get hold of a precise time scale for completion. Because modular buildings are constructed in a factory environment, your building will not be affected by delays caused by external factors like the weather.
Having a defined timeline that can be relied upon helps businesses to plan their time and finances leading to better efficiency and productivity, which all has a positive effect on your investment.
Modular buildings are well-known for achieving excellent results in reducing the amount of waste produced in the manufacturing process. Again, because of the methods adopted in the construction of modular buildings allows for better planning of materials which means there is less waste.
The MPBA reports that modular construction can reduce waste by up to 20% compared to conventional construction.
Not only does this provide cost savings to your project, leading to a better ROI, but it is also a much more environmentally friendly approach to construction. Most businesses are aware of their impact on the world around us. By taking a positive stance on carbon emissions and sustainability is a beneficial message to send to customers and stakeholders.
Further to the green initiatives supplied through the reduced production of waste, modular buildings present a more energy-efficient option to a more traditional build.
The construction process uses less energy, helped by modern tools and equipment designed specifically for the process, as well as the shorter construction time. However, modular buildings are cheaper to run than a traditional structures, which results in a reduced carbon footprint and lower operating costs.
Modular buildings include features such as LED lighting and advanced insulation, among others, to help make them as energy efficient as possible. A recent study by the UK Green Building Council suggested that modular buildings can achieve up to 30% higher energy efficiency compared to traditional builds.
Modular buildings can make your business more profitable
The financial benefits of opting for a modular building are many. In addition to the points already discussed, businesses can experience less disruption to their existing sites if they want to extend or renovate with a modular building. Reduced interference means firms can carry on processes that make money without experiencing downtime or a break in receiving income.
Reducing the amount of time on your project means that your company can have better control of finances and improve cash flow management. The shorter construction times lead to better financing options providing less risk and further enhancing your return on investment.
Portable Building Sales will get your business moving
If you have a project that you are ready to start or need to discuss whether modular buildings are suitable for your development, we have a team of advisors ready to speak to you.
The friendly team at Portable Building Sales can guide you through the design and installation process.
Get in touch with Portable Building Sales today to get your project off the ground.