TRUE COST OF OWNERSHIP is the cost of buying and maintaining a building. The industry standard for determining the true cost of ownership is the Life-Cycle Analysis. For example, let’s explore the true cost of ownership of VCT versus Vinyl Sheet Flooring over the life of each material.
Due to its durability and variety of design, vinyl sheet flooring has become more popular in recent years. Vinyl Composition Tile (VCT), a mainstay in the industry for decades, costs less to install than vinyl sheet flooring, but has a higher life-cycle cost.
VCT has the following issues:
- Difficult to clean
- Joints accumulate dirt and blood
- Surrounding cove base is difficult to clean and wax
- Cracks and deteriorates rapidly
Vinyl sheet flooring avoids all these issues and has superior appearance, durability and longer life.
The following chart provides a brief comparative analysis of the cost of VCT versus vinyl sheet flooring over the life cycle of each product and can be a useful tool for developers and design professionals when specifying materials for a plasmapheresis center. The scenario assumes installation of 10,000 Sq. Ft. of product in a lease space with a 15-year term. Averages were used for initial installation costs but will vary by market. Given this scenario, higher maintenance efforts and replacement costs ultimately increase the cost of VCT over the life cycle of the product:
Comparative Life Cycle Cost Analysis for VCT and Vinyl Sheet Flooring
|Installation Cost/Sq. Ft.||$2.65||$6.03|
|Initial Capital Cost||$26,500.00||$60,300.00|
|Life Expectancy of Product||10-15||20-25|
|Term of Lease||15 Years||15 Years|
|Expected Replacement Cost Through Term of Lease||$51,100.00 |
(Factors in 4% Inflation and Disposal/Salvage Costs)
|Total Maintenance Effort Hours and Materials Per Year||1,584*||936**|
|Total Hourly Maintenance Rate - Labor, Equipment and Supplies||$35.00||$35.00|
|Total Maintenance Cost for 15 Year Lease Term||$981,600.00||$491,400.00|
|Total Life Cycle Cost||$1,059,200.00||$551,700.00|
|*Includes dust mopping daily, damp mopping daily, spot cleaning/scrubbing and buffing weekly, stripping and waxing quarterly.|
|**Includes dust mopping daily and damp mopping daily.|
In our example, clients may be attracted to the initial cost savings associated with VCT flooring. However, given the higher maintenance effort and replacement costs, the cost to maintain VCT is double the maintenance cost of vinyl sheet flooring over the total life of the product.
The life cycle analysis is paramount to understanding true cost of ownership. At Stough Development, we utilize this perspective to inform our development practices and to ensure that our clients are the beneficiaries of thoughtful design, quality construction and ultimately the lowest cost.
For more information on resilient sheet flooring and to view available products, please visit https://www.manningtoncommercial.com/products/hard-surface/resilient-sheet/