Is it time to remodel my store?

Q: We've been operating a small specialty women's apparel store for the past 10 years and have never changed the interior much. We're thinking that with the new millennium, it's time for a new look. What do you think?

A: It's definitely time to remodel. Ten years is a long time in today's retail environment, especially when you consider that Internet retailers often change their look one or more times every year. A good rule of thumb for specialty retailers, according to the WWD/DNR Specialty Stores newsletter, is a major facelift every five to seven years to keep your store brand fresh and distinctive.

Plan on spending $20-50 a square foot, and a month's time, for a project that includes floor coverings, paint and new fixtures. That can climb to $90 a square foot, and two to four months of construction, for a complete, top-to-bottom redo.

The investment can pay off. The newsletter cites a Deloitte & Touche survey which found sales increases averaging 17 percent for a full remodel -- with some stores reporting gains of 40 percent or more -- and closer to 10 percent for partial remodels. In planning the job, it's suggested that you shoot for recouping your investment in two to three years' time.