Commercial elevators are essential mainstays in hospitals, schools, universities, and other commercial spaces, helping provide reliable accessibility for everyone.
If you’re looking to invest in one, you may wonder about what actually goes into commercial elevator costs. While a commercial passenger elevator can cost from $50,000 to $100,000 per landing, these baselines can vary significantly depending on various factors.
Below, let’s break down some of the most common costs associated with installing a commercial elevator. Read on with us here at RAM Elevators + Lifts to learn more.
#1: The Elevator Itself
Perhaps unsurprisingly, the most expensive part of a commercial elevator is often the elevator itself. There are many different types of elevators. Beyond that, other factors, such as safety features, drive systems, and components, vary widely. As a result, not every elevator will be the right fit for your specific commercial space. Aside from functionality, this is also where overall design comes into the picture. An elevator that brings patrons to different levels plays an important role in design, helping ensure a cohesive appearance across multiple floors. Other cost drivers include the number of floors, travel distance, and speed requirements.
While the presence of a commercial elevator promotes accessibility, some places also require specific accessibility features. For example, tactile braille markings are often required throughout commercial spaces in North America to comply with ADA and other accessibility standards.
#2: Permits & Licensing
As with any new installation, a commercial elevator must comply with building code requirements, as well as municipal and federal regulations. These regulations differ across jurisdictions, and as a result, these timelines and fees can vary widely from case to case. Your licensed installer will pull any necessary permits and other documentation before the installation begins.
#3: Site Modifications
Every building is different. A downtown multipurpose office building has a very different structure from a university hospital. That’s why, aside from the elevator model, site preparations and modifications are also often among the highest commercial elevator cost drivers. Commercial elevators are typically placed in a central location, but also require sufficient space for safe installation.
Site modifications can include:
- Shaft creation
- Pit excavation (if required)
- Electrical rewiring to support elevator circuits (if required)
- Any other structural changes to support the system
#4: Labour
Depending on the building’s capacity, commercial elevators can see hundreds of people every day. As a result, one component of commercial elevator costs is always labour. Labour is necessary at every stage, including planning, pulling permits, preparing the space, installing, and exhaustive testing throughout.
Many options, such as RAM elevators, must be installed by a licensed and professional dealer/installer. General contractors do not perform elevator installations. Installing a commercial elevator requires specialized expertise and training from a licensed elevator technician. Any commercial elevator must be installed properly, reliably, and in compliance with all codes.
How to Find the Right Fit
Consider your commercial space. How much traffic does it see on a daily basis? How many levels is it? Will the elevator be a retrofit or within a new build? Once you have an idea of the gap this elevator is trying to fill, it will be easier to narrow down commercial elevator costs.
Transparent Costs, Exceptional Rides with RAM
There’s no one-size-fits-all cost to finding the right elevator for your commercial space. Reach out to us to get a quote for a RAM commercial lift. We’re here to help simplify your search for a commercial mobility solution, answer any questions, and put you in touch with a RAM dealer near you.