Sample Construction Business Plan: Areas To Customize
A sample construction business plan or a template for such a business plan can be an incredible timesaver as you set out to write
. However, there are a number of areas which must be specifically customized for your purposes.Industry Analysis
The construction industry is extremely broad and, beyond a short introduction, writing at length about the construction industry in general will not impress readers. What will be more impressive is deeper research and analysis into your specific sector of the industry, whether it is commercial office buildings, single family homes, multiple-unit dwellings, roads, or something else. This type of research shows the specific issues and challenges your business will have to face. Find what you can online and through business databases, but for more valuable information consider purchasing industry reports which discuss the basic statistics, trends, and drivers of the industry.
Competitive Analysis
Likewise, the competitors you write about cannot be from a cookie cutter sample. These must be the real, top competitors your future clients are currently using for construction work or will have as an option once you launch. Whenever possible, speak with individuals and businesses who have used their services in the past to go beyond what you can learn through the competitors website. Furthermore, the reality of what these companies do may be miles away from how they describe themselves in their marketing.
Equipment
Finally, the equipment your business should purchase, maintain, store, and share between simultaneous work crews, must be specific to the work you will be doing, and your plan should show this. The nature of the equipment may influence how much storage space you need, directly hitting your costs. Descriptions of these items should be detailed in the financial section of the plan to better justify the money you must raise. Furthermore, investors may want to know whether it is possible to hold off on certain purchases until the first contracts are secured, to lower the risk associated with hefty purchase prices for specialized tools whose resale value may lower significantly after they are acquired.
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