Updated Feb 13, 2025

Elevator Systems as a Strategic Investment: Enhancing Business Value and Efficiency

Elevators are not only quick, but also a very convenient mode of transportation, especially for people who are confined to wheelchairs or have some other mobility issues that make it difficult for them to take stairs. Elevator systems become a necessity in professional settings as it welcomes guests and visitors of all types. 

But do you know that about 30 people are killed annually in the US in elevator and escalator accidents? (Brooks Law Group: Elevator Accidents Statistics) This is majorly due to the poor maintenance of these lifts. Such unfortunate events (if occurred on business grounds) can tarnish a company’s reputation and trust in the market. 

This post dives deeper into this subject and discusses why elevator systems are a strategic investment for businesses and how they can enhance their value and efficiency. 

 strategic investment

Careful Maintenance

It should be kept in mind that just installing elevators is not where all the work ends, it needs to be regularly monitored and maintained. It is quite common for businesses to make the mistake of allowing their elevators to deteriorate and go unmaintained. 

Unmaintained lifts can result in malfunctioning and severe injuries. According to the experts at Metro Elevator, maintenance isn’t something you personally need to concern yourself with, since there are many professional services available, you can work with reliable providers to take care of it. 

If you do hire one, make sure they have enough experience, reasonable rates, and a responsive customer support desk. Responsiveness is a key factor here because the last thing that should happen is to contact your chosen agency in an emergency only to be informed that nobody is available to take the call. 

Elevators and escalators market

DO YOU KNOW? 
The global elevators and escalators market was valued at $134.65 billion, and it is projected to reach $192.75 billion by 2028. 

Property Value

Are you aware of the fact that an elevator system can add significant value to the resale price of your property? If you are considering investing in one, you should not make the mistake of trying to cut corners and save money. 

Because these run the risk of installing a subpar elevator, which will put people’s lives at risk. Every year, thousands of cases come into the limelight where unmaintained or poorly installed elevators stop working with people inside of them. 

Ensuring the highest quality of elevators also increases the value of your property. When finding an installation company, look for one with good reviews, a solid reputation, and years of experience. A company’s reviews can give you authentic insights into the client experience of particular businesses. 

Lift

Safety Considerations

As said in the introduction, stairs might not be suitable for certain people with mobility issues, but if there is no other choice on the premises, there are chances that some of them will still try to climb them. Obviously, this is not a smart idea and can result in injuries and accidents. 

This becomes another solid reason to invest in lift systems because if someone injures themselves in your business, you could end up having to pay expensive compensation to them. Of course, if the injury is an outcome of their own negligence, business owners likely won’t have to pay anything. 

Still, even the slightest possibility of people getting injured on the premises should not be ignored. Accidents can interrupt normal operations and can harm your organization’s reputation. 

In case of frequent injuries, businesses develop a reputation for carelessness, even if the damages that occur on the premises are not their fault. For this reason alone, an elevator is a worthwhile investment.

TRIVIA
A well-maintained elevator in a commercial or residential setting typically experiences 0.5 to 2 breaks per year. 

Greater Accessibility

Elevators make workspaces much more accessible, meaning that even people with mobility issues can visit your premises to discuss work. In the modern world, accessibility is considered a really important factor. Some consumers might even refuse to deal with businesses that are unconcerned with accessibility. 

In addition to elevators, a business’s level of accessibility can be improved by installing ramps outdoors. This enables clients in wheelchairs to come in and out of your workplace. Obviously, this is only necessary if a business has steps that lead up to its entrance. 

Businesses with their front doors opening up onto the sidewalk do not require ramps. Moreover, those wishing to make their company more accessible can take various other measures as well.  The best way to find out what they are is to contact professional service providers who specialize in increasing the accessibility of other businesses. Such agencies are widely available and have numerous different ways of optimizing and improving brick-and-mortar premises. 

In conclusion, considering the points above, we can call elevator systems strategic investments well worth making. But before finalizing the installations, it is important to find a reliable company to do this job, you can check the provider’s reviews and experience to ensure that they are the perfect choice for this task. Also, the work doesn’t end at installation, so regularly monitor and properly maintain the elevator system in the workplace, so it does not break down on anyone. 




Author - Suprabha Bhosale
Suprabha Bhosale

Finance Writer

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