4 Crucial Ways Water Damage Can Impact Your Business
Water damage, for commercial properties, can pose many serious threats, indirectly or directly. It is essential to act fast in this situation, as numerous issues can arise when flood or water damage occurs at the worksite. Many businesses may never fully recover from the outcomes of a flood. Insurance will usually cover a bulk of the cost. However, some of these expenses cannot be reclaimed. Top it off; many lack the proper coverage in these instances.
4 Effects of Water Damage to Commercial Buildings
- Loss of Inventory and Assets
Flooding can cause considerable inventory and asset loss. Even if you are relatively safe from a natural disaster, the unexpected could happen, let it be a pipe burst, you name it. Restaurants may have to throw out unusable food. Retailers may have to toss destroyed goods that are no longer resalable. Equipment needed for service companies can be destroyed, causing production to come to a halt. These are just a few examples in which inventory loss can drastically affect the facility.
- Business Closure
In many cases, when water damage presents itself, a building can remain open. Setting up a temporary place to complete work may help keep operations open while the process of mitigation occurs. In some cases, the organization must close altogether. As an example, a restaurant or retailer may need to shut the doors for a while, drastically causing loss of revenue and customers shopping or dining elsewhere.
Wages and bills still must be paid, with no cash flow coming in, this can cause complete closure if funds get depleted quickly. Many smaller establishments cannot survive a loss to this magnitude unless prepared.
- Power and Data Loss
Loss of data and power will affect you a great deal. Electricity and phone lines are usually restored promptly. The chief concern here is computers, servers, and data. We rely heavily upon both to run our day to day operations. It is recommended to keep a backup source of power as a contingency plan until help arrives. It is a great idea to back up data on the cloud as well, do not rely on local copies of your data. If all your data is wiped clean, where do you go from there?
- Long Term Effects
The time it takes to restore your building and to get your establishment back in shape can be a daunting task. Without the right tools or the efficiency of a qualified team, this can take a very long time and can exceed the expected cost budgeted for emergency occurrences.
Potential issues with mold and mildew can occur and are dependent upon the length of time the moisture was present, equipment used, and the knowledge of the staff. Hiring untrained personal for your mitigation needs can result in high costs and can lead to the need to renovate if not treated on time or accurately.
According to research, 50% of corporations close after a disaster. Of the ones that do survive, most of them had a preparedness plan ahead of time. Pre-planning is vital and can save you time and money. Not only can you save, but being prepared for these types of misfortunes speaks trust to your clients and employees in the event a catastrophe arises.
The SERVPRO Emergency READY Profile (ERP) is a perfect opportunity for you to prove your readiness, giving you peace of mind. Having an ERP in place allows your company timely mitigation and can help minimize how disasters can disturb your organization.
The SERVPRO Emergency READY Profile (ERP) provides:
- No cost assessment
- Concise documentation that contains critical details tailored to you
- Guide to get back into your building after a disaster
- Identifies the line of command for authorizing work to begin
- Provides detailed information about your facilities such as shut-off valves, priority areas, priority contact information, and more
How Can SERVPRO of Citrus Heights/Roseville and Carmichael Help
Our staff is fully trained, and they keep in mind any legal and environmental concerns the community may have. We strive to fully restore the destructed area while still working within your budget. We understand that every moment spent is one more moment of lost revenue and productivity for your company. We are here to take your call, and we will be there fast to help.
Have a plan and be Emergency READY Profile complete. Call 916-966-2601 to get your ERP Now!
About SERVPRO of Citrus Heights/Roseville and Carmichael
SERVPRO of Citrus Heights/Roseville and Carmichael specializes in the clean-up and restoration of commercial and residential properties. Our staff is highly skilled and trained for your needs and is thoroughly knowledgeable and capable of restoring your property fast and efficiently.
In restoring your property, our team will be at the premises promptly and will work rapidly to assess the situation to isolate the area allowing you to continue working.