If there’s one thing that business owners hate the most, it is having to spend for an unforeseen circumstance like a Lakeland parking lot paving repair. When you own a business, you have to be ready for any damage or accident that might come your business’ way and that includes damage to properties.
When you are faced with the decision to repair your parking lot or your asphalt pavement, you know that you are going to have to spend thousands of dollars on it. So, why are you not prepared for this expense?
Most businesses would include parking lot maintenance and repair in their monthly budget. They would have a pavement company on a retainer so they can check for any damages—minor or major—that could occur on the pavement. This will help alleviate the impact of the cost of parking lot repairs on the owner.
Meet with your stakeholders
If you own the business by yourself, you can decide on your own how to fix the budget and make sure there’s money enough for the parking lot maintenance and upkeep.
However, if you have a few investors or you have partners, you have to meet with them and make sure they understand why you are suddenly adamant to add another layer of expense on your already ballooning budget.
Simply explain to them that the cost of repairs could be staggering and you need to be ready for it one month at a time.
Prioritize the maintenance need of your parking lot
List down the things that your budget needs to prioritize such as employee salaries, general maintenance of the property (including the parking lot), licenses and fees, taxes, and monthly bills.
Remember to include the maintenance of your parking lot in the list of priority because that list will guide you in setting aside a budget for each item.
Set aside a budget for its upkeep
Finally, no matter how hard it is, set a definitive budget for the general upkeep of the parking lot or the asphalt pavement. You need to understand that maintaining the parking lot regularly will stop damages from getting out of hand.
A big-time repair on a parking lot paving could cost thousands of dollars, which you could use on other matters in your building if you only managed to prevent minor problems in your parking lot. Setting aside a budget for it is a prudent way of doing business.