Construction Business Plan Template
Construction business plan.
You’ve come to the right place to create your construction business plan.
We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their construction companies.
You can easily download the Construction business plan (including a full, customizable financial model) to your computer here <–
Sample Construction Business Plan Outline
Below is a construction business plan example to help you create each section of your own construction business plan:
Executive Summary
Business overview.
VB Residential Construction Company is a startup construction company located in Milwaukee, Wisconsin. The company is founded by two cousins, Victor Martinez and Ben Schmidt. Together they have over 20 years of experience in constructing homes from design concept, remodeling and renovating homes. They are highly skilled in all aspects of construction and have garnered a positive reputation in the local construction community for their ethical practices and competitive skill set. Now that Victor and Ben have an extensive network of clients and contacts, they have decided to begin their own residential construction company.
Product Offering
The following are the services that VB Residential Construction Company will provide:
- Custom home building/design build
- Home remodeling and renovation
- Project Management
- Kitchen and bath construction
Customer Focus
VB Residential Construction Company will target those individuals and industry professionals requiring home construction services in Milwaukee, Wisconsin. Those individuals are landowners looking to develop homes on their lots, architects who have clients needing homes built, developers who have the vision but need a company to make it a reality, and households needing home remodeling services.
Management Team
VB Residential Construction Company will be led by Victor Martinez and Ben Schmidt. Together they have over twenty years of construction experience, primarily in residential builds, remodeling, and renovation. They both started at a young age working and learning from their fathers. When they graduated from high school, their fathers got them jobs at the construction company they were employed at. The four family members worked together for ten years at the construction company. The fathers recently decided they were going to retire from the industry which prompted Victor and Ben to branch out on their own and start their own residential construction company.
Success Factors
VB Residential Construction Company will be able to achieve success by offering the following competitive advantages:
- Friendly and knowledgeable contractors who are able to take any project from concept to reality.
- Unbeatable pricing – Clients will receive the best pricing in town for services on any project while maintaining the best quality and customer satisfaction.
Easily complete your construction business plan! Download the construction business plan template (including a customizable financial model) to your computer here<–
Financial Highlights
VB Residential Construction Company is seeking $200,000 in debt financing to launch its construction business. The funding will be dedicated towards securing a small office space, purchasing two trucks, and purchasing all the construction equipment and supplies. Funding will also be dedicated towards the advertising agency and three months of overhead costs to include payroll of the staff, rent, working capital, and monthly fees to the accounting and human resources firm. The breakout of the funding is below:
- Trucks: $40,000
- Construction equipment, supplies, and materials: $100,000
- Advertising agency in charge of promotions: $10,000
- Three months of overhead expenses (rent, payroll, HR and accounting firms): $40,000
- Working capital: $10,000
Company Overview
Who is vb residential construction company.
VB Residential Construction Company is a newly established contracting company located in Milwaukee, Wisconsin. Founded by cousins, Victor Martinez and Ben Schmidt, they have over 20 years experience in the construction industry. VB specializes in residential remodeling, kitchen and bath construction, as well as custom home building. VB Residential Construction Company also offers residential design, construction, and project management services. VB prides itself in delivering a level of expert craftsmanship to fulfill the vision for the client while exceeding expectations at exceptional value.
Company History
VB comes from the initials of the owners, Victor Martinez and Ben Schmidt, two cousins who have been working in the construction industry most of their lives. Both of their fathers spent decades as contractors and raised their sons working and learning the construction trade. The four have been working for another residential contractor in Milwaukee and have built and remodeled numerous homes for multiple builders and clients. Now that both of their fathers are retiring from the construction industry, Victor and Ben have decided to start their own residential construction company and use their years of experience, expertise, and contacts to be an independent residential contractor.
Since incorporation, VB Residential Construction Company has achieved the following milestones:
- Registered VB Residential Construction Company, LLC to transact business in the state of Wisconsin.
- Located a small office space to have a physical address for the company as well as a receptionist.
- Reached out to their numerous contacts to include real estate agents, developers, architects, and landowners to advise them on their upcoming construction company in order to start getting construction contracts.
- Began pricing out costs for trucks and necessary construction equipment.
- Began recruiting a team of contractors that cover different areas of construction to include mechanical, plumbing, electricians, and roofing.
The following will be the services VB Residential Construction Company will provide:
Industry Analysis
Revenue for the Construction industry is expected to continue growing over the five years as demand for new housing expands. Revenues are expected to reach $107 billion.
Relatively low interest rates, coupled with rising per capita disposable income, is expected to support individual investment in new homes, providing an opportunity for industry revenue growth over the next five years.
Per capita disposable income is expected to rise steadily over the next five years, while concurrently, unemployment will drop, proving favorable conditions for industry growth.
Housing starts are expected to rise an annualized 2.9% and this growth is projected to stem partly from forward-looking consumers that choose to purchase homes while interest rates are low. Relatively low housing stock and relatively low interest rates are expected to lead demand for industry services to increase over the next five years.
Customer Analysis
Demographic profile of target market.
The precise demographics for Milwaukee, Wisconsin are:
Customer Segmentation
VB Residential Construction Company will primarily target the following customer profiles:
- Households in search of home remodeling services
- Landowners who would like to build homes on their lots
- Architects who have clients that need home building or remodeling services
- Developers who have already partnered with landowners and/or architects and are in search of a residential contractor
Competitive Analysis
Direct and indirect competitors.
VB Residential Construction Company will face competition from other companies with similar business profiles. A description of each competitor company is below.
JM Remodeling
JM Remodeling has been in business in Milwaukee, Wisconsin since 1990. They are a full-service design and build company. JM Remodeling specializes in residential and commercial restoration and renovation including custom carpentry, kitchens, bathrooms, roofing, siding, dormers, additions, home gyms, home offices, porches and decks, and mechanical services. JM Remodeling carries a staff of plumbers, electricians, journeymen carpenters, restoration specialists, roofers, siders, sheet metal workers, and expert estimators. JM Remodeling also has an apprenticeship program to train employees within the company. They are licensed, bonded and insured and also part of the National Association of Remodeling Industry (NARI). JM Remodeling also provides warranties on all their services. The work is guaranteed by labor warranties, factory warranties, and extended warranties.
Cream City Construction
Cream City Construction has more than 50 years experience in home design, remodeling and renovation in the Greater Milwaukee area and Southeastern Wisconsin. The home remodeling services they provide are additions, whole house remodeling, kitchens, bathrooms, lower levels, master suites and historic renovations. Cream City Construction is a design build company that works with the client to create the design plans, generate project costs, and build the project.
Cream City Construction is owned and managed by Todd Badovski and Jim Grote. Together they have decades of experience and have spent years refining the skills required to run a high end, quality driven remodeling company. The majority of their projects come from repeat business or referrals from clients delighted with their previous service. Cream City Construction is also a member of the National Association of Remodeling Industry (NARI) as well as the Historic Milwaukee Incorporated.
Sazama Design Build Remodel, LLC
Former restaurant owner Don Sazama established Sazama Design Build Remodel, LLC in 1987 after becoming a Master Carpenter. He wanted to merge his passions of business and design and expand his skills in carpentry and architecture. Don’s firm has completed over 700 homes and won 11 awards from the Milwaukee Home and Living magazine. Sazama Design Build Remodel builds homes that are modern and luxurious and have completed many large remodels of bathroom and kitchen renovations. Sazama likes to collaborate with firms such as Ivy Interiors and an award-winning landscape designer, Gingko Leaf Studio. Sazama Design Build Remodel can build and design all aspects of a home – from a home office, outdoor entertaining area, serene spas, and inviting kitchens. The team at Sazama is able to do a historic renovation, build or renovate into something modern and posh, or keep it traditional.
Competitive Advantage
VB Residential Construction Company will be able to offer the following advantages over their competition:
Marketing Plan
Brand & value proposition.
VB Residential Construction Company will offer the unique value proposition to its clientele:
- Highly trusted and professional contractors with over 20 years of experience remodeling, renovating, and building homes.
- Unbeatable pricing to its clients – VB Residential Construction Company does not mark up its services at a large percentage. They will offer the lowest prices in town.
Promotions Strategy
The promotions strategy for VB Residential Construction Company is as follows:
Word of Mouth/Referrals
Victor and Ben have built up an extensive list of contacts over the years providing home construction services for numerous highly satisfied clients. Most of the clients are repeat customers and have also referred them to other associates for home projects. These referrals and repeat customers are very likely to use VB Residential Construction Company instead of the previous construction company Victor and Ben were employed at.
Professional Associations and Networking
VB Residential Construction Company will become a member of construction and professional associations such as the National Association of Remodeling Industry (NARI) and the Milwaukee Chamber of Commerce. VB will also become a member in associations where other builders, developers, and architects are a part of. They will focus their networking efforts on expanding their client network.
Print Advertising/Billboard
VB Residential Construction Company will invest in professionally designed print ads to display in programs or flyers at industry networking events. They will also invest in two billboards to display in highly trafficked areas of town.
Website/SEO Marketing
VB Residential Construction Company will utilize the same advertising company that designed their print ads and billboards to also design their website. The website will be well organized, informative, and list all their services that VB is able to provide. The website will also list their contact information and a gallery of pictures that show their previous projects. The advertising company will also manage VB’s website presence with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Milwaukee residential contractor”, “contractor near me”, or “residential contractor near me”, VB Residential Construction Company will be listed at the top of the search results.
The pricing of VB Residential Construction Company will be moderate and on par with competitors so customers feel they receive value when purchasing their services.
Operations Plan
The following will be the operations plan for VB Residential Construction Company.
Operation Functions:
- Victor Martinez and Ben Schmidt will be the owners and managers of the company. They will oversee all staff, contractors, and subcontractors. They will also act as project managers for every job they receive and handle all pricing and bids to the client.
- Victor and Ben will employ a team of contractors under them that will have an array of skill sets. The contractors will be trained and experienced either in plumbing, mechanical, electrical, roofing, or siding. Not all contractors need to be certified in all trades, but they need to be certified in at least one of the trades.
- Office manager/assistant to be located at the small office. This person will handle all incoming calls, assist with visiting clients, bookkeeping and maintain files.
- Victor and Ben will utilize a third-party human resources company to handle all hiring, onboarding, payroll, and benefits for the staff. The HR company will also handle all employee issues.
- Victor and Ben will also pay a third-party accounting firm to manage all the high level accounting and tax payments.
Milestones:
VB Residential Construction Company will have the following milestones complete in the next six months.
3/1/202X – Finalize contract to lease small office space
3/15/202X – Execute advertising agency contract 4/1/202X – Begin networking and placing bids for construction jobs
5/1/202X – Begin recruiting and hiring team of contractors
5/15/202X – Purchase all necessary construction equipment, supplies, and trucks
6/1/202X – Start on first official job as VB Residential Construction Company
Victor and Ben are highly skilled at project management and residential construction. They are also both certified in plumbing, electrical, and mechanical. In the next few years, they will be certified as Master Carpenters.
Financial Plan
Key revenue & costs.
The revenue drivers for VB Residential Construction Company are the upcharge they will charge to the clients for their services. VB will purchase or subcontract a service at cost and will charge a 15% markup in order to obtain the markup fee. 15% is below the normal 25%-30% that other competing residential contractors charge.
The cost drivers will be the overhead costs required in order to maintain a construction company. The expenses will be the costs to purchase and maintain construction equipment and trucks, payroll and overhead costs for the staff, and rent and utilities. Other expenses will be the cost for the advertising agency, accounting firm, human resources firm, and membership association fees.
Funding Requirements and Use of Funds
VB Residential Construction Company is seeking $200,000 in debt financing to launch its construction business. The funding will be dedicated towards securing a small office space, purchasing two trucks, and purchasing all the construction equipment and supplies. Funding will also be dedicated towards the advertising agency and three months of overhead costs to include payroll of the staff, rent, and monthly fees to the accounting and human resources firm. The breakout of the funding is below:
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Initial Monthly Average Contract Amount: $20,000
- Growth in Average Monthly Contracts: 10%
Financial Projections
Income statement, balance sheet, cash flow statement, construction business plan faqs, what is a construction business plan.
A construction business plan is a plan to start and/or grow your construction business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your construction business plan using our Construction Business Plan Template here .
What Are the Main Types of Construction Companies?
Construction companies can be classified according to the type of constructions that they perform. Some are small renovation contractors, others are new home builders and others are commercial construction companies.
What Are the Main Sources of Revenues and Expenses for a Construction Company?
Construction companies get their primary source of revenue from individual contracts for new homes, remodeling projects or commercial projects.
The key expenses for construction companies are office space rent, salaries and wages, and equipment costs.
How Do You Get Funding for Your Construction Business Plan?
There are many options for financing a construction company like SBA loans, commercial loans, personal loans, or line of credit. There are also equipment funding opportunities that cover expenses associated with necessary tools, machinery and other equipment. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Construction Business?
Starting a construction business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Construction Business Plan - The first step in starting a business is to create a detailed construction business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your construction business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your construction business is in compliance with local laws.
3. Register Your Construction Business - Once you have chosen a legal structure, the next step is to register your construction business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your construction business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Construction Equipment & Supplies - In order to start your construction business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your construction business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful construction business:
- How to Start a Construction Business
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Construction Business Plan Template
Construction company business plan template.
If you want to start a construction business or expand your current one, you need a business plan.
Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow all types of construction businesses, including commercial construction, building construction and residential construction.
Construction Business Plan Outline: How To Write a Construction Business Plan
Below are links to each section of a construction business plan:
- Executive Summary – The executive summary is the most important part of your business plan. It’s where you explain what your business is and why it will be successful.
- Company Overview – This section of your construction business plan should include a brief business description, your vision and mission statement, and the company’s core values.
- Industry Analysis – This section of your plan will provide an overview of the construction industry, including market size, growth outlook, major players, and competitive landscape.
- Customer Analysis – In this section of your plan, you will identify and describe your target market(s).
- Competitive Analysis – In this section, you will analyze your competitors and explain how you plan to differentiate your company from them.
- Marketing Plan – Your marketing plan should include an overview of your marketing goals, strategies, and tactics.
- Operations Plan – Your operations plan should describe how you will produce your product or service, as well as the people and resources needed to do so.
- Management Team – In this section, you will introduce the members of your management team and their experience and qualifications.
- Financial Plan – Your financial plan should include your financial statements such as the income statement, balance sheet, and cash flow statement.
- Appendix – The appendix of your plan should include any additional supporting materials, such as market research reports, resumes, licenses, permits, and so on.
Next Section: Executive Summary >
Construction Business Plan FAQs
What is the easiest way to complete my construction business plan.
Growthink's Ultimate Construction Business Plan Template allows you to quickly and easily complete your Construction Business Plan.
Where Can I Find a Free Construction Business Plan PDF Download?
You can download our construction business plan PDF template here . This is a business plan template you can use in PDF format.
What Is a Construction Business Plan?
A construction business plan provides a snapshot of your construction business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Why Do You Need a Construction Business Plan?
The construction industry is tough. If you’re a contractor looking to start a small construction business or construction services company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your construction business in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes. As always, we are here to help you write a business plan and guide you through the steps of taking your business idea from dream to reality.
What Are the Sources of Funding for Construction Businesses?
The main sources of funding for a small construction business are bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.
The second most common form of funding for a construction business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will generally not fund a construction business.
How Do You Start a Construction Business?
Please see this article on our website: How to Start a Construction Business
What Are the Keys to Success for a Construction Business?
Below are some of the keys to success in the construction business:
- Vision & Focus: determine the type of construction business you want to operate and stick to that vision.
- Create your business plan: Your plan will help you set goals and outline how to achieve them.
- Get licensed, bonded, and insured: before you can bid on your first job, you need to investigate and meet the requirements for local and state licenses and do what you need to do to secure them, get your worker’s compensation and liability insurance, and find out how much you need to be bonded for.
- Build a winning team: Hire and train a team of employees with the right skills. Remember that since construction is seasonal and cyclical, you must also be willing to downsize if/when the workload decreases.
- Purchase wisely: be careful not to overspend on salaries and equipment. Consider renting equipment when possible.
- Properly price jobs: Keep factors such as overhead and actual production costs (materials, labor, inspections, etc.) in mind when pricing jobs to ensure a healthy profit on all projects.
CONSTRUCTION BUSINESS PLAN OUTLINE
- Construction Business Plan Home
- 1. Executive Summary
- 2. Company Overview
- 3. Industry Analysis
- 4. Customer Analysis
- 5. Competitive Analysis
- 6. Marketing Plan
- 7. Operations Plan
- 8. Management Team
- 9. Financial Plan
- 10. Appendix
- Construction Business Plan Summary
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Construction Company Business Plan
Are you thinking of starting a construction company We have prepared a sample construction company business plan that guides you on every stage of your business plan writing
If you have the right knowledge and skills for getting into construction, you might have thought of starting your own construction business at least once.
After all, having your business can give you authority and the freedom to work with your dream clients and it is a lucrative business for sure.
But at the same time starting and running a construction company is no mean feat and takes a lot of work and accountability.
So, to help you through your daily business activities and long-term business goals you’ll need a construction company business plan. A business plan makes your life easier and lets you focus on what really matters in your business.
Industry overview
The US construction industry stood at a market value of 1.36 trillion dollars in 2020 and was expected to decline in 2021. But instead, it experienced a wave of recovery and continues to grow even now.
The major reason for the growth of the construction sector is the resumption of construction projects, be it residential or commercial. Also, new projects keep coming up due to the rapid urbanization and increasing need for space all around the country.
However, before you dive right into it, you should plan it, down to the last detail. A business plan would help you in avoiding roadblocks and failures. It would act as a guide that would help your company rise as high as the skyscrapers you build.
If the above idea sounds interesting, read on to find out how a business plan can help you and how to write a construction company business plan.
Things to Consider Before Writing a Construction Company Business Plan
Get necessary licenses and permits.
A construction business requires several permits depending upon the state you are working in and a few documents that are common all over the country. The main reason behind this is the nature of the work that requires proper attention to safety requirements.
But getting all the legal documents can look like a lot of work, especially when your business is going on in full swing. Hence, it is a better practice to make a checklist of all the necessary documents and get them before getting started.
Figure out the safety requirements
Safety requirements are another crucial aspect of starting a construction business. Figure out what are the tools and measures you’ll need to have to ensure the safety of your workforce and other people on construction sites. It helps you avoid accidents and injuries that can be prevented by taking necessary measures.
Get the right workforce and equipment
A skilled workforce is the biggest asset of your construction firm. They can make or break a deal, and also decide what kind of reputation your business would have in the construction industry. Hence, it is important to hire a skilled workforce and make sure they get the right equipment to work with.
Know your target audience
Knowing your target audience and their preferences is crucial for any business. As a construction company, knowledge about your target audience comes in very handy when you are pitching for projects. Hence, try to know all the relevant things about your target audience.
How can a construction business plan help you?
Though you might believe that having the right knowledge of equipment and personnel is the only thing important for running a construction business, good business practices and a proper business plan are equally important.
A business plan can help you in planning your finances, organizing your business structure, having a hassle-free operational strategy, and knowing your customers better. All in all, it can make your life less chaotic and run your business smoother and easier.
So if you want to conduct your business smoothly, read on to find out how to write a business plan.
Chalking out Your Business Plan
A good construction business plan consists of several different aspects that are common to all business plans and several that are specific to a construction business.
And though writing a business plan might seem like a time-consuming process initially, it can save you a lot of time and trouble later on. To write a well-rounded business plan you can either use a premade template or an online business plan software, that would help you write a flexible and dynamic plan.
Before you start writing your business plan for your new Construction Company, spend as much time as you can reading through some samples of real estates business plan templates .
Our sample HDFL – Construction Company Business Plan can help you with writing a well-rounded business plan for your business. It can act as a guide and prevent you from getting stuck in a certain section for too long.
Construction business plan outline
This is the standard construction company business plan outline which will cover all important sections that you should include in your business plan.
- Mission Statement
- Management and Personnel
- Business Overview
- Industry Analysis
- Market Trends
- Business Fit in the Industry
- Management and Organizational
- Organization
- Hiring Plan
- Risk Management
- Accounts Payable
- Description of Product and Services
- Affordability
- Life Cycles/Seasonality
- Location/Distribution
- Price/Quality Relationship
- Promotional Strategies
- Projected Profit and Loss
- Projected Cash Flow
- Projected Balance Sheet
What to Include in a Construction Business Plan?
A good construction business plan consists of several sections, the major ones are as follows:
1. Executive Summary
The executive summary section forms the first page of your business plan and is the most important one to get you funded.
It consists of an overview of all the major sections of your business plan and a good executive summary would help you win an investor’s confidence and get your business funded.
It summarises the following sections:
2. Mission Statement
A clear and concise mission statement helps your clients resonate with your company and business idea. It gives out a clear message of what values you stand for as a company. Hence, writing a good mission statement is important for the success of your business.
It would consist of the following sub-segments:
- Goals and objectives
3. Market Analysis
Analyzing the market comes in handy while making several business decisions as it helps you in knowing the market and the industry better. It helps you in understanding the pitfalls of your business, its strengths as well as what your competitors are doing.
It would consist of the following subsections:
- Market Segmentation
4. Management and Organizational Structure
This section would include details about your company’s organizational structure as well as the levels of management of your firm. You must also include your firm’s work as well as the roles and responsibilities of your team members in this segment.
For example, you should include which person is responsible for onboarding clients, who are responsible for dealing with architects and hiring construction workers, who are responsible for overlooking the construction process, etc.
- Organizational Management
- Record keeping
- Risk management
- Hiring plan
5. Marketing Plan
A good marketing strategy makes you memorable for your clients. It helps you reach out to your target audience , creates a brand image, and makes you stand out from your competitors.
A well-rounded marketing plan consists of the following sub-segments:
- Description of services
- Marketing strategy
- Advertising strategy
- Sales strategy
6. Financial Plan
A good financial plan is key to running a successful and profitable business. One cannot emphasize enough on planning your finances in the initial stages of your business, it helps you immensely as your business experiences growth or setbacks.
A financial plan decides the measure of your business’s success, and a good one consists of the following aspects:
- Projected profit and loss
- Projected balance sheet
- Projected cash flow
Construction Business Plan Summary
In conclusion, a good business plan can help your construction company prosper. It can help you deal with all the hiccups your business goes through and set out a clear road map for your business journey. So, if you want to start a construction company go ahead and start planning.
After getting started with Upmetrics , you can copy this construction business plan example into your business plan and modify the required information and download your construction business plan pdf or doc file. It’s the fastest and easiest way to start writing your business plan.
Business Planning Resources
We have plenty of free business planning resources available to help you with your planning. You can download our resources to learn all about business planning.
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BUSINESS PLAN FOR THE SMALL CONSTRUCTION FIRM Management and Planning Series TABLE OF CONTENTS INTRODUCTION A Note on Using This Publication 1 What's in This for You? 1 Why Are You in Business? 1 What Business Are You In? 1
Whether you are just thinking about starting your own firm or have already started it, the business plan can be a great benefit. As your management skills increase so will the number of jobs you can effectively control. The careful completion of this plan may point out problems and limitations of your operation. This is important. To be a successful contractor you must not only know your business thoroughly, but also know your limits and seek professional advice in these areas.
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Home » Business ideas » Construction & Engineering Industry » Construction Business
How to Write a Construction Company Business Plan [Sample Template]
Are you about starting a construction company ? If YES, here’s a complete sample construction business plan template & feasibility report you can use for FREE . Okay, so we have considered all the requirements for starting a construction business.
We also took it further by analyzing and drafting a sample construction marketing plan template backed up by actionable guerrilla marketing ideas for construction businesses. So let’s proceed to the business planning section.
A Sample Construction Company Business Plan Template
1. industry overview.
The construction industry can comfortably boast to be responsible for the infrastructural development of the world. As such, the development of any country or city can be said to be the handiwork of construction companies and other stake holders. In other words, all the edifices, bridges, dams, roads, estates, campuses, shopping malls, office complexes, skyscrapers and massive structures that you see around are all products of the construction industry.
Starting a construction business is capital intensive simply because of the type of heavy duty equipment that is required to carry out a construction project and also the cost of managing a large workforce. Despite the fact that the construction industry requires huge start – up capital, the industry is highly profitable, especially if you have the expertise and capacity to deliver quality jobs. The major clients for construction companies are governments and the private sector.
Construction giants all over the world head towards developing countries, because they know that they are going to get juicy construction contracts there. Unlike in advanced economy, in developing countries and undeveloped world, there are loads of construction works to be done.
The fact that they have infrastructure deficit means that the government must be up and doing in terms of road constructions, bridge construction, public facility construction (hospitals, schools, office facilities and estates et al) and dams constructions.
After a war, the construction industry is one of the major stakeholders that contribute in the rebuilding of a country. In so doing, they work with governments in ensuring that basic infrastructures are restored and of course it will always ends up a win – win situation for both parties. The government gets what they want and the construction company and contractors get good returns for delivering the projects.
Over and above, the success of a construction company to a larger extent depends on their relationship with the biggest clients in the industry; the government of any country. No doubt there is always enough construction contracts to go round as long as a construction company is competent and well positioned. They won’t lack construction contracts from both the government and the private sector.
2. Executive Summary
Shannon Berg Construction Company is an international construction company that has its headquarters in Grand Rapids, Michigan – USA. The fact that we are based in the united states does not in any way restrict our scope of operations to the United States of America. We are an international construction company and we work for our clients (governments and private sectors) in any part of the world.
Shannon Berg Construction Company will be specialized in the constructions of skyscrapers, bridges, stadiums, roads, dams, Office complex, shopping malls, schools, campuses and estates et al. As a matter of fact, we are going to be known for delivering world class structures all over the globe. Creativity, excellence and timely completion of construction projects will be our signature.
We intend starting our construction business on a small scale in Grand Rapids, Michigan, but we have a bigger picture – to have our presence in any part of the world that our clients wants us to work. We hope to achieve this feat within the first 10 years of launching the company.
As part of our plans to make our highly esteemed customers our number one priority and to become a global construction brand, we have perfected plans and strategies that will enable us work with our clients in delivering projects that can favorably compete with the best in the industry at an affordable and reasonable price within the stipulated completion date barring any unforeseen circumstance.
Shannon Berg Construction Company is fully aware that starting a construction business requires huge capital base, which is why we have perfected plans for steady flow of cash from private investors who are interested in working with us. We can confidently say that we have a robust financial standing and we are ready to take on any construction project that comes our way, as long as the project is duly commissioned by the required authority.
Shannon Berg Construction Company will be owned by the principal partner; Engr. Shannon Berg and other partners (Nani David, Lois Scotland and Christopher Parkston). They also have plans in the pipeline to sell the shares of the company in the nearest future to interested investors who would want to be part owners of the company.
Shannon Berg who is the principal partner has well over 25 years of experience in the construction industry. Before starting his own construction company, he was a senior project manager and consultant with one of the world’s largest construction company based in Germany.
Engr. Shannon Berg, Nani David, Lois Scotland and Christopher Parkston will be the major financier of the company. Nonetheless, we have made a concerted decision not to limit the number of investors with similar investment ideology that may want to invest in the business.
This is necessary in order for us to be able to retain financial flexibility. Ideally, our plan is that no investment will be less than $1,000,000, which would purchase a 1 percent equity position. It is our desire that all equity partners be limited partners.
3. Our Products and Services
Shannon Berg Construction Company is a construction company that is set to undertake both small construction projects and massive construction projects for governments, private sectors and for individuals which is why we do not intend to place limitations of the scope of the projects we handle and what we do.
We know that if we are good at what we do, it will make it easier for our brand to grow beyond Grand Rapids, Michigan to other parts of the United States of America and the rest of the world. Our business offering are listed below;
- Road Construction
- Bridge Construction
- Dam construction
- Airports and Helipads Construction
- Seaports Construction
- Skyscrapers construction
- Estate construction
- Public facility construction (hospitals, schools, shopping malls, office complexes and industrial facilities et al)
- Construction of residential facilities
- Property Makeover Services
- Construction Consultancy and Advisory Services
4. Our Mission and Vision Statement
- Our vision is to build a first class construction company that will have active presence in North America, South America, Africa and Asia.
- At Shannon Berg Construction Company, our mission and values are to help governments, the private sector and individuals in the United States of America and throughout the world realize their dreams of building a world class structure that can compete on a global stage with the best in the construction industry.
Our Business Structure
Shannon Berg Construction Company intend starting small from Grand Rapids, Michigan, but with a vision of growing the business to becoming a global construction brand with presence in all the continents of the world. In order to achieve this vision, we just have to position our company for growth and ensure that we hire dedicated and highly competent employees at all levels.
Shannon Berg Construction Company will ensure that we build a team that will work together towards achieving the company’s vision. We will build a business that has the right structures and process in place that can support growth; a business that runs on auto pilot.
In view of the above, we have made provisions for the following position in our organization based on the size of the company we intend starting but as the business grows, we will create senior level positions and also create a structure that will support the business growth at every growth and expansion stage;
- Chief Executive Officer (President)
Project Manager
Civil Engineer
- Structural Engineer
- Quantity Surveyor
Land Surveyor
Company’s Lawyer/Secretary
Admin and HR Manager
Business Developer
- Front Desk Officer
5. Job Roles and Responsibilities
Chief Executive Officer – CEO:
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for the day to day running of the business
- Responsible for handling high profile clients and deals
- Responsible for fixing prices and signing business deals
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Reports to the board
- Responsible for the planning, management and coordinating all projects on behalf of the company
- Supervises projects
- Ensures compliance during project executions
- Provides advice on the management of projects
- Responsible for carrying out risk assessment
- Using IT systems and software to keep track of people and progress of ongoing projects
- Responsible for overseeing the accounting, costing and billing of every project
- Represents the organization’s interest at various stakeholders meetings
- Ensures that project desired result is achieved, the most efficient resources are utilized and different interests involved are satisfied.
- Responsible for preparing bids for tenders, and reporting to clients, public agencies and planning bodies
- Ensures that sites meet legal guidelines, and health and safety requirements
- Assesses the environment impact and risks connected to projects
- Responsible for judging whether projects are workable by assessing materials, costs and time requirements
- Draws up blueprints, using Computer Aided Design (CAD) packages
- Discussing requirements with the client and other professionals (e.g. architects and project managers et al)
- Responsible for managing, directing and monitoring progress during each phase of a project
- Responsible for creating building designs and highly detailed drawings both by using the hands and by using specialist computer – aided design (CAD) software
- Works around constraining factors such as town planning legislation, environmental impact and project budget
- Writes and presents reports, proposals, applications and contracts
- Adapting plans according to circumstances and resolving any problems that may arise during construction
- Works with project team and management to achieve a common goal
- Responsible for applying for planning permission and advice from governmental new building and legal department.
- Responsible for undertaking land surveys/measurements using a variety of specialist technical equipment such as theodolites, laser alignment devices and satellite positioning systems et al.
- Responsible for presenting data to clients
- Responsible for producing and advising about construction plans and drawings
- Responsible for advising about technical matters and whether the construction plans are viable
- Responsible for drawing up contracts and other legal documents for the company
- Consult and handle all corporate legal processes (e.g. intellectual property, mergers & acquisitions, financial/ securities offerings, compliance issues, transactions, agreements, lawsuits and patents et al)
- Develops company policy and position on legal issues
- Researches, anticipate and guard company against legal risks
- Represents company in legal proceedings (administrative boards, court trials et al)
- Plays a part in business deals negotiation and take minutes of meetings
- Responsible for analyzing legal documents on behalf of the company
- Prepares annual reports for the company
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily office activities.
- Identifies, prioritize, and reach out to new partners, and business opportunities et al
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information (manage the company’s CRM system)
- Represents the company in strategic meetings with government agencies, private sectors and contractors
- Helps increase sales and growth for the company
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Responsible for financial forecasting and risks analysis.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the company
Front Desk/Customer’s Service Officer
- Receives Visitors/clients on behalf of the organization
- Receives parcels/documents for the company
- Handles enquiries via e-mail and phone calls for the organization
- Distributes mails in the organization
- Handles any other duties as assigned the line manager
6. SWOT Analysis
Surviving in the business world as a construction company requires more than knowing how to deliver standard projects but also how to network with key people that matter; decision makers that can decide who a project is given to and all that. We know that it will be a bit difficult to compete with already established construction companies in the United States especially because we are new in the industry.
In order to properly position our company for growth and to favorably compete in the construction industry, we engaged the services of a Dr. Joe Whyte, a renowned HR and business consultants in the United States of America to help us run a SWOT analysis.
It is important that we know our strength, our weaknesses, and the opportunities that we can leverage on in the industry and the threats that we are likely going to be confronted with. With that, we will be able to map out strategies that will not only help us to survive in the industry but also to build a global construction brand. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Shannon Berg Construction Company;
Shannon Berg Construction Company can confidently boast of having a competent and highly experienced management team who are regarded as some of the best hands in Michigan.
Although we are a new construction company, but our president and board of trustee are respectable people in the United States of America who have served the US government in various capacity; we are a construction company that has the right network that is suitable for the kind of business we are into.
Well the fact that we are a new construction company could count as a weakness. It is normal for clients to think twice before awarding construction contracts to newbies in the industry. Another weakness that can count against us in the industry is the fact that we may not have the financial muscles to drive the business the way we ought to drive it. We require huge financial base to be able to acquire some of the latest heavy duty construction equipment.
- Opportunities:
Our business concept, our mission and vision puts us at an advantage in the industry. We will start small to build trust within Grand Rapids, Michigan and there are loads of opportunities for us there simply because we are well positioned to work with both the state government and the highly organized private sector.
Generally in the construction industry, both the already established construction companies and start – up construction companies are subject to threat from government policies, global economic downturn and unforeseen natural disasters (disasters that may cause setback).
These are the threats that we are likely going to face as a newbie construction company in Grand Rapids, Michigan. Another threat that we are likely going to face is the arrival of a big construction company in the location where our business has strong presence.
7. MARKET ANALYSIS
- Market Trends
The trend in the construction industry is that construction companies are always coming out with processes that will help them achieve more within a short period; construction jobs can be time consuming especially the construction of massive infrastructures.
Most players in the construction industry are fully aware that the government of any country or state is the biggest clients they can get and they do all the lobbying and horse trading to ensure that they get government contracts.
No doubt there are loads of big time investors that have stakes in the construction industry, but one thing is certain, there is room big enough to accommodate both the big construction companies and the small construction companies.
What smaller construction companies need to do to survive in the industry is to concentrate on developing estates, schools, hospitals and hotels et al before bidding for big construction contracts like road construction, bridge construction, dam construction and skyscrapers et al.
Another obvious trend in the construction industry is subletting of contracts. It is now obvious that construction giants leverage on their brands to win contracts and in some cases after they have won the contract, they will go ahead to sublet the contract to smaller construction company that they trust can deliver to execute the project at an agreed fee that will be good enough for both parties to make profits. Smaller construction companies position themselves to be able to leverage on such opportunities once it present itself.
8. Our Target Market
Our target market cuts across governments at all levels and countries, the organized private sector and people of different class and from all walks of life. We know that our selling points will be our excellent and timely delivery of construction projects using global best practices.
We will start with the local market, people, organizations and the government in Michigan, but we hope to spread our nets to clients from other states in the US and thereafter other countries of the world. Shannon Berg Construction Company will be known for working with smaller clients (various individuals) as well as working for bigger clients (various governments and organized private sector). Below is a list of the people and organizations that we have specifically designed our services for;
- Organized private sector (Corporate organizations)
- Land Owners
- Businessmen and Businesswomen
- University Campuses
- Foreign investors who are interested in owning properties in the United States of America
- The government of the United States of America (Government contracts)
- The governments of other nations of the world
Our Competitive Advantage
We are quite aware that there are big – time investors and construction companies who are well recognized in the construction industry, and we maybe have to compete with them when it is time to bid for juicy government contracts.
It might be challenging competing as a newbie in the construction industry, especially in a highly organized market like that of the United States of America, which is why we were deliberate in choosing our board members. Our competitive advantage is not limited to the crop of highly experienced professions that are members of our management team but also our board members.
Our board members are highly respected professionals in the United States who have served the government of the United States at various capacities; people who are accomplished business gurus and people who have the right connections and experience to make things happen with little or no struggle. For us, it is indeed part of the competitive advantage that we are bringing to the market.
Another positive for Shannon Berg Construction Company is the fact that our Chief Executive Officer / President is a renowned Civil Engineer, he has robust experience in the construction industry and he has worked extensively as a senior project manager for one of the world’s leading construction companies.
He is sure going to bring is experience, expertise and network (connections) to make Shannon Berg Construction Company one of the leading construction brand in Grand Rapids, Michigan and also active player in the global construction market.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Shannon Berg Construction Company was established with the aim of maximizing profits through delivering quality and standard construction works for our highly esteemed clients. We will ensure that we generate income from every available means within the construction industry. Below are the sources we intend exploring to generate income for Shannon Berg Construction Company;
- Construction of residential apartments
10. Sales Forecast
It is important to state that our sales forecast is based on the data gathered during our feasibility studies and also some of the assumptions readily available on the field. We have relationship with major stake holders in the real estate and construction industry in Grand Rapids, Michigan and also in order states in the US and we are sure of getting key construction contracts to kick start of business.
Below are the projections that we were able to come up with for the first three years of Shannon Berg Construction Company;
- First Year-: $2,000,000
- Second Year-: $3,500,000
- Third Year-: $5,000,000
N.B : This projection is done based on what is obtainable in the industry and with the assumption that all things that will facilitate easy flow of construction contracts. From our calculations, we are likely going to make a minimum of 30 percent profits after task from executing key construction projects.
- Marketing Strategy and Sales Strategy
We have been able to clearly define our target market and have documented this in our construction marketing plan. We know how to get them to hire our services which is why we have decided to adopt some of the winning formula that construction giants utilize to win major construction contracts.
We know that it will take different marketing and sales strategies to win small clients and bigger clients. For example; there are requirements a construction company would hate to meet before they can be awarded a government contract. We have put all these factors in place before creating a workable marketing and sales strategy for Shannon Berg Construction Company.
Shannon Berg Construction Company is fully aware of the bureaucracy and horse trading that exists in bidding for construction contracts from the government and even the organized private sector, which is why we were able to put protocols in place to hire some of the best business developer to handle our sales and marketing.
No doubt, our sales and marketing team will be recruited based on their vast experience in the construction industry and their ability to fit into our Business model. We are going to pay more emphasis in the training of all our employees so as to give them all they would need to help the company achieve its aim and objectives.
Our goal is to become one of the leading construction companies in Grand Rapids, Michigan and we know we can achieve this by ensuring that our sales and marketing team are delivering on set targets. Shannon Berg Construction Company will adopt the following marketing and sales strategies;
- Introduce our business by sending introductory letters alongside our brochure to all the corporate organizations and government offices in Grand Rapids, Michigan and other States in the US.
- Promptness in bidding for contracts
- Advertise our business in real estate/properties magazines and websites
- List our business on yellow pages
- Promote our business on satellite TV stations and radio stations.
- Attend expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver quality housing/property to them
- Leverage on the internet (social media platforms and our official websites) to promote our business
11. Publicity and Advertising Strategy
We have been able to work with our consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. First and foremost, we want our brands to be visible and well communicated, which is why our publicity strategy have been well crafted to help us achieve our aims and business objectives.
All our publicity materials and jingles are done by some of the best hands in the industry. Below are the platforms we intend to leverage on to promote and advertise our property development business;
- Place adverts on both print and electronic media platforms
- Sponsor relevant TV shows
- Utilize our company’s website in promoting our business
- Leverage on the internet and social media platforms like; Instagram, Facebook ,Twitter, LinkedIn, Badoo, Google+ et al
- Install our Bill Boards on strategic locations
12. Our Pricing Strategy
Part of business strategy is to ensure that we work within the budget of our clients to deliver excellent and world class construction projects. We are quite aware that there are major players in the construction industry in the United Stated of America who are not interested in small business deals and that is why we have positioned Shannon Berg Construction Company to take on such contracts.
Although our prices may not be outrageously lower than what is obtained in the industry, but we are hopefully that whatever price we bill our customer will be amongst the lowest they can get in the industry. The fact that we are going to be billing our clients lower than what is obtainable in the industry does not in any way going to affect the quality of our construction projects.
- Payment Options
Our payment policy in Shannon Berg Construction Company is all inclusive because we are quite aware that different people prefer different payment options as it suits them, but at the same time, we will not accept payment by cash because of the volume of cash that will be involved in most of our transactions. Here are the payment options that we will make available to our clients;
- Payment by via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will help us achieve our plans without any itches.
13. Startup Expenditure (Budget)
- The Total Fee for incorporating the Business in New York: $750.
- The budget for Liability insurance, permits and license: $5,000
- The Amount needed to acquire a suitable Facility with enough space in Grand Rapids, Michigan (Re – Construction of the facility inclusive): $500,000.
- The Cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al): $15,000
- The cost for acquiring heavy duty construction equipment: $2,000,000
- The Cost of Launching a Website: $600
- Additional Expenditure (Business cards, Signage, Adverts and Promotions et al): $5,000
- Working capital (investment fund): $3,000,000 (3 Million US Dollar)
Going by the report from our research and feasibility studies, we will need about $7,000,000 (7 US Million Dollars) to set up a construction company in Grand Rapids, Michigan. It is important to state that most of the heavy duty construction equipment that we will work with will be leased. This necessary because some of these equipment are really expensive and it won’t be economical for us to acquire them from the start.
Generating Funding/Startup Capital for Shannon Berg Construction Company
- The Chief Executive Officer/President Engr. Shannon Berg will generate 20 percent of the start – up capital from his personal savings and sale of his stocks
- 30% of the capital will be generated from key partners (Nani David, Lois Scotland and Christopher Parkston)
- 50% of the capital will be sourced from banks
14. Sustainability and Expansion Strategy
Shannon Berg Construction Company was established with the aim of building a company that will outlive the founders and partners; a construction company that will have active presence in major cities in the world. Part of the vision of the company is to handover the baton of the company from one generation to generation; hence we have perfected our plans to put the right structures in place that will aid our succession plan.
In order to position of company for growth, we have been able to create strong partnerships with the government of the United States of America, organized private sector and construction giants. We are optimistic that we will continue to execute construction contracts for our clients.
Our marketing team will continue to get the needed support and encouragement that they need to be able to deliver on set goals and targets for the organization, and we will continue to improve our processes and structure to meet up with the changing trend in the construction industry.
Lastly, we will not relent in taking calculated business risks when it comes to bidding for bigger government contracts and taking on new business challenges and new business frontiers.
Check List/Milestone
- Business Name Availability Check:>Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Renting of Office Facility in New York City: Completed
- Conducting Feasibility Studies: Completed
- Generating capital from the CEO and Business Partners: Completed
- Applications for Loan from our Bankers: In Progress
- writing of business plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents (Tenancy Agreements et al), and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the Needed furniture, office equipment, electronic appliances and facility facelift: In progress
- Acquiring of heavy duty construction equipment: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with key players in the industry (networking and membership of relevant construction bodies): Completed.
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Construction Management Business Plan Sample
JUL.18, 2014
Construction management business plan for starting your own company
As long as humans continue to live in houses, the construction industry cannot go out of business. This business plan for construction company sample is being made to make it possible to start a construction management business that can be beneficial. Continue to read this document if you want to know how to open a construction company that can make you serious money.
Strategic management is one of the key factors that are needed to make any construction business a success. If you lack this, the company will not survive for long, let alone being profitable. This construction company business plan will focus on all areas that are important in making a construction company a success.
Executive Summary
2.1 the business.
Tyler Constructors will be a registered and bonded company based in and operating from Atlanta, Georgia. The funds needed for starting up a construction company will be provided by Tyler Corleone, an Italian Engineer who has been in the construction business for some 25 years now.
2.2 Management of Construction Management Company
If you want to know how to start a construction management business, the most important thing for you to learn is the management of the company. Construction is a complicated field and if the management is not handled the right way, it can never be profitable.
Tyler Constructors will be headed by Tyler Corleone. He will hire 3 managers for operations, liaison, and contracts. 2 Engineers will also be hired to run the actual construction work. All the managers and the engineers will be answerable to Tyler and will be required to bring any important matter to his notice as soon as possible. Now, let’s see how to write a business plan for investors to get funds for a construction management business,
2.3 Customers of Construction Management Company
The customers of this business will also pretty much the same as those of an interior design business plan . The main customers will include:
- Private clients.
- Corporate clients.
- Government agencies.
- Non-profit bodies.
2.4 Business Target
The answer to the question: how to set up construction company cannot be complete without setting the business targets. The targets of Tyler Constructors are:
- Starting to make a profit of $36,000 a month after three years.
- Becoming the leading construction management company in Georgia in 5 years.
- Expanding to at least two more states by the end of year 10.
Company Summary
3.1 company owner.
The owner is one of the most important aspects of any construction project management plan example. The owner of this company will be Tyler Corleone. He is an engineer with extensive knowledge and experience in the field of construction project management. He is also the one arranging funds for this venture.
3.2 Why the Construction Management Business is being started?
Tyler is starting a commercial construction company because he has seen a lot of potential in the field. He has been associated with the field for a long time and knows is inside out. The current boom in the economy and the shift of people towards this sector has made this business a lucrative one.
Another reason for starting this business is the passion Tyler has for this field. He wants to live through his work for ages to come and to do this he is planning to write his name quite literally in stone all over the US.
3.3 How the Construction Management Business will be started?
Step1: Planning Phase
The next thing we need to talk about in this construction management business plan sample is the planning of the business. In this stage, Tyler will run the competitive analysis and will make a feasibility of the business. The target market segments will also be selected at this stage.
Setting up a construction company is not an easy thing and planning needs to be done on an extensive scale for the business to be successful.
Step2: Establishing a Brand Name
Making a brand that people can trust is the next step in any business plan for architecture firm . Tyler plans to make a brand that people can depend on and that has a worth in the market.
Step3: Establishing An Office
Once the planning and branding bits are out of the way, the next step will be to establish an office. This will be the point of contact with the world for the business.
Step4: Going Online
Having an online presence is very important for any business to succeed these days. Tyler Constructors will make a website where people can come to know about them or place any order for any construction contract.
Step5: Promotion and Marketing
The last step is to make the brand known to the people so much that people start linking the name Tyler with construction.
The services Tyler Construction will be providing are the next thing that need to be discussed. Unlike a real estate flipping business plan , owning a construction company means you have to provide a number of different services. The main services we will be focusing on in this construction project management template will be the following.
- House Renovation
Home renovation is one of the most lucrative of all construction projects. Finishing touches in any building are the most expensive and always have a large profit margin. We will be providing these services all over the state of Georgia and will make a name in this market segment.
- Home Building
As there is a lack of reputable home builders in the area, we will provide this service. This will not be a very lucrative one, but the number of projects will be higher than other services and will earn us quite a bit of profit.
- Commercial Construction
We will also provide all sorts of commercial construction services from shopping malls to hotels. This will be one of the bulk income services that we will be providing.
- Government and Public Sector Construction
This will be the most important service provided by Tyler Constructors. As government projects are generally large, this will make up the bulk of steady revenue for the firm.
Marketing Analysis of Construction Management Business
A detailed marketing analysis of the target market is one of the most important things for starting a successful business. If you need to know how to write a business plan for a construction company, you need to know the industry. The US construction industry is worth just under $1 trillion and is expected to grow to $1.25 trillion by the next year. This expected boom in this industry means that now is the perfect time for starting a construction management business in the US.
If you want to learn how to open a construction company, the most important thing to consider is the market you are planning to penetrate. Even though the industry is huge, your construction company business plan needs to have something distinct that sets it apart from the rest.
5.1 Market Trends
The next thing a construction business proposal template needs to shed light on are the trends of the market. The construction industry in the US has always been growing, less the great depression and the recession of 2008.
All the construction business plans need to have a close look on the market before setting foot in the business. This is just like making business plan for engineering consulting .
5.2 Marketing Segmentation
The Market segments Tyler Constructors will be providing the services will include:
5.2.1 Government Agencies
These are unarguably the largest customers of any construction company. Tyler Constructors will focus on establishing as a reputable government contractor. This is a profitable segment of the market.
5.2.2 Corporate Clients
These are one some of the most profitable of all segments of the market. Tyler Constructors will provide all type of construction services to this segment of the market.
5.2.3 Home Building Market
This is a large segment of the market but the worth of individual projects is not very much. This market will be sort of a side business for Tyler and will be used to cover the overheads of other projects.
5.2.4 Non-Profit Bodies
The services provided to this segment of the market will be not for profit but as a civic duty of Tyler Constructors to play their role in improving the society.
5.3 Business Target
- To provide impeccable construction management service in the state of Georgia.
- To become one of the leading government construction contractors.
- To expand to national market and make a name.
- To start making $500,000 in profits by the end of 5 years.
5.4 Product Pricing
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Our products and services will be priced slightly below the average price on the market. This will be used as a tactic to attract customers. After we make a credible name in the industry, we will increase the prices.
Marketing Strategy
You need to have a strong construction management marketing strategy if you want to be successful in this field. The most important aspect of any marketing strategy for construction company pdf is finding out what the competitors lack and building your strategy around it.
The construction firms in the area do not have established brands and do not offer flexibility in the services. This means that these are the aspects on which Tyler Constructors will be basing their marketing strategy.
6.1 Competitive Analysis
- We have a very experienced team, made up of managers and engineers who can complete the projects on a tighter budget.
- We will involve the client in all stages of the project, and use the materials and practices they want, something no other constructor in the area does.
- We will offer the flexibility of completing any stage of the project, if someone wants just a grey structure or just the finishing we will do that.
6.2 Sales Strategy
- We will use print, electronic, and social media to advertise the business.
- We will have a separate wing dedicated to finding advertisements for construction projects and biding on them.
- We will keep the prices low for the first year to attract more customers.
6.3 Sales Monthly
6.4 Sales Yearly
6.5 Sales Forecast
Personnel plan
Construction is a labor-intensive business. The need for skilled and unskilled labor in this field is more than any other one. We will hire some people on a permanent basis and others on project-to-project basis. This is because if you hire all the staff on a permanent basis, the overheads will be too much to make the business profitable in the days when there is no ongoing project. Let us see what the minimum staff is needed to make this construction management business plan possible.
7.1 Company Staff
- The CEO of the company will be Tyler Corleone.
- 3 Managers for Liaison, Operations, and Contracts.
- 1 Accountant to manage the finances of the company
- 2 Engineers to manage the construction sites.
- 4 Overseers to run the construction activity.
- 3 Drivers for the office and staff.
- 2 Office boys.
7.2 Average Salary of Employees
Financial plan.
The cost to start a construction company is obviously more than a remodeling business plan . The actual costs can only be determined with reasonable accuracy when the business is started. However, here are some of the costs that you need to have arranged before the company is started:
- The cost for setting up the business.
- The cost of basic construction machinery.
- The money needed for staff salaries.
- The cost of setting up the website.
- The online and media marketing cost.
- The cost of overheads before the company starts making money.
8.1 Important Assumptions
8.2 break-even analysis.
8.3 Projected Profit and Loss
8.3.1 profit monthly.
8.3.2 Profit Yearly
8.3.3 Gross Margin Monthly
8.3.4 Gross Margin Yearly
8.4 Projected Cash Flow
8.5 Projected Balance Sheet
8.6 business ratios.
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Construction Business Plan
Start your own construction business plan
Fosse Commercial Contractors LLC
Ownership & structure.
Fosse is a Limited Liability Company registered in the state of Texas. Fosse Commercial Contractors, LLC is exclusively owned by Mr. Robert Fosse (50%) and his partner, Michael West (50%). The company is expecting to alter to a Class C corporation chartered in Texas. This will create greater investment opportunities through the acquisition of investment capital from a limited number of shareholders.
Company History
Fosse Commercial Contractors, LLC began in the Houston area when Mr. Robert Fosse, who had worked in the residental construction business for ten years began his own company, Fosse Painting and General Construction in the Houston area. For the next eight years the company grew slowly, working mostly on small scale residential projects while gaining a reputation for quality services and reliability. Then the original company was merged with another small-scale local company, West General Contractors and the company began to bid successfully for larger projects. The company maintains a General Contractor’s license in the state of Texas.
The company’s management came to the conclusion that the firm had grown sufficiently to alter its primary target market from the residential construction segment to the higher margin office and commercial construction segment. The company plans to implement this change by the middle of 2004.
Past Performance
Management Team
Fosse’s management consists of Mr. Robert Fosse and Mr. David West. Mr. Fosse will concentrate on client contacts and bidding along with overall management of the company. Mr. West will be the company’s General Project Manager, coordinating all project management and concentrating on cost controls, suppliers, day-to-day project supervision, labor relations, etc. Mrs. Janet Fosse will be our office manager, handling client satisfaction,invoicing, permitting, and general book keeping. Most of our labor needs will be met through Contractor-Temps a nationwide temporary labor company.
The company is planning to expand it personnel to add a number of job superintendents as soon as the number of projects increases. These superintendents will have the following duties:
- Direct supervision of all work at the job site.
- Quality control.
- Scheduling subcontractors and material deliveries.
- Verifying and insuring that all work is done in accordance with plans.
- Insuring that all work is performed in accordance with all OSHA guidelines.
In addition, as business increases, we will hire additional job superintendents and project managers as needed.
Personnel Table
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- A brief history of your construction company
- The customers, suppliers, and needs you have
- A sheet summary of the growth of the company, including financial details
- A brief of your long-term and short-term goals
- Steps on how you will make profits.
- Planning leads to practical and faster achievements in any company
- It foresees the future
- It acts as an added strength to a business action plan for steady growth and prosperity
- It helps one be ready to face any unexpected situation that might crop up.
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Walt Disney, whose characters inspired the iconic entertainment parks built by the Buena Vista Construction Company, once said: “You can design and create, and build the most wonderful place in the world. But it takes people to make the dream a reality.”
Those people are the on-the-ground electricians, plumbers, painters, carpenters, joiners, architects, and builders who get the job done no less creatively than the famous animator himself.
Even on a small scale, the responsibility of project managing any construction jobs is hugely challenging.
You are managing budgets and deadlines, ordering resources, problem solving, and keeping clients happy all at once. It isn’t easy to catch a breath and think about where your next project is coming from, or what you’re working towards in the grand scheme of things.
How do you find more leads, bid for jobs, and organise your finances when your office is your phone and you’re always on the road or on-site?
It would help if you had a building and construction business plan that you can refer to and adapt on the go to ensure you keep building your business to its full potential.
Your business plan will never be truly complete. As your business goals and environment changes, you’ll need to continually revisit and revise the intent to make sure it remains a live document that helps you grow.
Here are the key areas to explore in your business plan.
1. Write your business summary
2. decide on your business structure, 3. do your market analysis and competitor research – where do you fit in, 4. crunch the numbers: what is coming in and going out.
5. Map out how you will win and keep customers
6. Form a strategy for winning jobs
7. figure out how to stay in hmrc’s good books, additional resources.
When writing a business plan, it’s best to write your business summary (also known as an executive summary) last – once you have worked through all the ins and outs of your business and can ably sum it up.
This section goes right at the front of your plan.
It’s your at-a-glance statement that details your business and summaries the big questions that will help ensure you stay on track with whatever your plan turns out to be.
Use this section to outline what you are working towards, answering questions such as:
- What is the business opportunity?
- What is the problem, and how are you the solution?
- What are your services?
- What is your experience?
- What is the target market?
- Will you subcontract or be the contractor?
- Will you hire staff or subcontractors?
- How many jobs do you need to carry out each year?
- How many jobs do you need to bid on?
- How will you market your services?
- What is your potential competition?
- Why you, what makes you unique?
- What are your sales goals?
- How much revenue do you want to make?
- What is your profit margin?
- What are your expenses?
- What equipment do you need to meet your goals?
- How much money do you need to make from each job?
Sample business summary
Customers in the west London area are looking for beautiful, functional kitchens and bathrooms. They need a designer/builder who can provide high-quality work as part of a home renovation.
We strive to offer the best quality design, site preparation, cost estimates, construction, repair and alteration to homeowners and landlords needing small-scale kitchen and bathroom construction services.
With more than a decade of experience and expertise under our belts, we provide a high standard of service that outperforms our competitors – whose customers generally need to find and hire separately.
West London is booming with property investment right now. Many of the buildings in the area are old and in need of refurbishing, making this is an attractive market for a specialist business such as ours.
We will be concentrating on the customers who need for a full-service design and building package. This is a big investment for most people, so having somebody who can deal with their kitchen or bathroom being renovated from start to finish at a reasonable price is a godsend for them.
Competition
There are numerous competitors in the London area. However, many of them do not have our experience in building both designing and building solid kitchens and bathrooms using materials from different brands.
The market in west London is big enough for a high-quality kitchen and bathroom designer and builder to win work and have a regular stream of customers. This is an excellent time to gain a foothold in the market.
Through the connections and experience we have building designing kitchens and bathrooms in the past, we have developed a wealth of contacts who can supply materials at low prices, as well as assist in related kitchen works, including plumbing, masonry and the electrics.
Expectations and forecast
We have no personal or business debt and own all the equipment necessary to design and build high-quality kitchens and bathrooms. We expect to see increased profits as we develop word or month and our marketing strategy by the end of year one. Over the next three years, we expect higher profits as we make inroads.
For this the first year, we expect to have overall revenues of £70,000, which will significantly increase from years two to five.
One of the earliest decisions you will need to make concerns your company structure.
This will inform how your tax and finances will work moving forward. If you already know all about this, then you can skip to the next section (however, if you need a refresher, read on).
Sole trader
Becoming a sole trader is relatively simple, with fewer administrative requirements to deal with than if you set up as a limited company.
However, it may not be for you if your business requires investment. A sole trader and their business are the same – any business actions and debts are the owner’s responsibility.
Sole trading is more financially risky, with earnings entirely based on business performance. You will have to accept personal risk and the need to spend money on public liability insurance.
Limited company
Running a construction business as a limited company is more tax-efficient, with you taking a small salary (limiting PAYE and National Insurance liabilities and withdrawing the remainder as dividends).
A limited company and its owner are two different entities.
You have unlimited liability for your business, making it possible for you to hire employees, who you may need if you work on bigger jobs and projects.
Here, it would help if you looked at your goals and aspirations. Is having limited liability worth the increased administrative duties of a limited company?
If you decide to become a limited company, you need to:
- Choose a name (this will present a professional image and is necessary if you have other business interests)
- Choose a director (this could be yourself) and potentially a company secretary
- Decide who the shareholders or guarantors are
- Identify people with significant control of your company
- Prepare documents agreeing on how to run your company, such as a ‘memorandum of association’ and ‘articles of association’
- Check what company and accounting records you must keep.
To register your company, you will need an official address and Standard Industrial Classification (SIC) code that identifies what your company does.
You can set up your limited company at gov.uk and follow the step-by-step instructions.
You will need to research the competition, analyse your market, and clarify its business opportunity and target market.
In your business plan , you need to consider:
- Which construction businesses are operating in your area. If there are dozens, then pick the top five which are most like yours. Use search engines and social media to find them.
- What your competitors are charging. This will help you determine if you are under or over-selling yourself.
- What your competitors specialise in. When carving out your unique selling point (USP), you need to know what your differentiator is and what makes you competitive. Check out websites such as MyBuilder and Checkatrade, research advertisers who are doing similar jobs to those you’re likely to do, what they’re charging, and what experience they have compared to you.
- Who your ideal customer is. Paint a picture of the kind of customer you would like to provide your services to. Include details about their likely needs – general or more specialised – and what kind of price they can pay. The Office for National Statistics is an excellent place to find good demographic profiles and information.
- Where your ideal customer is based. Which geographical areas are they living in – which ones can you reach? If you have the resources, time, and money, you might want to speak with. prospective customers directly, potentially using interviews, surveys or questionnaires.
- What your customers’ past experiences are. If you undertake qualitative customer research, ask how often the customer is likely to hire a tradesperson, why they would, and any issues they have experienced. Also, find out what they require in terms of good customer service.
Once you have done your research, decide on your propositions – what will you offer, where and for what price?
Your business plan will have a financial section. This is one of the most important parts of your document, as it will answer the crucial question – how much money will your business generate?
When you first set up shop, this will feel a bit like putting up a finger in the air as you try to get your bearings.
As you build experience and study other established businesses through your market research, you will be able to gradually understand how much money you are likely to make and set yourself some clear financial goals.
There are a few basic concepts and ideas that you should get to know when it comes to construction accounting .
Revenue is the total income generated by the work you do.
Profit is the amount of income that remains after accurately accounting for all expenses, debts and operating costs.
In the construction business, it is essential to understand that revenues and profits come from projects (or jobs) . Put simply, revenue from projects deduct the costs chargeable for doing the project – this is known as gross profit.
Gross profit is what remains of the projected revenue after all project costs are paid. Gross profit is not pure profit; you must count in overhead costs, including rent and office expenses, if you have them. Gross profit appears on your income statement and can be calculated by taking your revenue and subtracting the total costs chargeable for the entire project.
Revenue forecasting
You may rely on instinct to forecast revenue at first, but as you grow, it will become easier to understand where your business may be in the next six to 12 months.
To forecast revenue, you will need to look at the work volume you’re likely to have. Here are a few key areas to focus on to better understand how much work you have in the pipeline.
Lead reporting
These list potential projects that you are targeting. How you measure this depends on your software’s sophistication. Spreadsheets such as Excel can help you track significant leads, but customer relationship management (CRM) software will have more functionality.
Whatever solution you go for, it will be a useful tool when it comes to gauging predicted revenue, calculating your chance of winning new work, and when it is likely to start.
Proposal pipeline
Your project pipeline starts when you put in an action to pursue a new opportunity, such as putting in a bid for a project.
Here, you would have a list of your outstanding proposals with details such as its value, the chance you will win the bid, and when you anticipate the work might start and end.
New business report
This report identifies the value of the projects you win within a particular period. You might run this weekly, tracking towards monthly and yearly goals for the year.
Backlog report
This shows you much how much revenue you are due to make under contract but have not yet billed.
Using the different types of reporting at your fingertips, you can work out how much money you are likely to make in the months ahead, the growth you can expect, and how much you can spend when it comes to future investment.
Cash flow is the amount of money coming into a business from completing projects, or the money flowing out, typically in the form of costs such as materials. A positive cash flow is desirable, while a negative cash flow is not.
The first rule of cash flow is that you need more cash coming in than is going out in any given month. The second rule is that money needs to come in at the right time.
A cash flow statement will show by how much you are down (losses) or how much you are up (profits) for a specific timeframe.
You can create a 12-month spreadsheet and work out what you intend to sell and when you expect payment. In another column, work out what you need to pay and when.
In construction, it’s more important than ever to keep a careful eye on cash flow as jobs and projects often require money to be spent on materials and labour before you get paid in full.
You will need to work out how much money you always need to have in the pot to keep afloat and get jobs done while waiting for invoices to be paid.
Cash flow can be doubly challenging to manage for builders because each project is typically unique with different contract and payment terms.
This also needs to be factored in: how can you maintain some stability when your work can be somewhat unpredictable or seasonal?
The financial part of your business plan is where you consistently update your changing circumstances, spot trouble areas, and plan contingencies.
Here are a few essential tips for ensuring quality cash flow that can be worked into your strategy (and if you’re using cloud accounting software tailored to building and construction , you’ll be able to automate a lot of these steps to speed up payments):
Bill early, bill often
Bill as soon as possible to help set your customers’ payment expectations and demonstrate your professionalism. More frequent billing also results in smaller invoices , making it easier for your customers to make payments.
You will also find out sooner if your customers are having financial problems so you can take appropriate measures on your end.
Stay on top of your bills
Pay your bills weekly to take advantage of early pay discounts and keep your vendors and subcontractors happy with prompt payments. This also sets you up to receive the best service from materials suppliers and subcontractors who want to do business with you.
Use progress billing
When negotiating your contract, ask to use a percentage of completion billing instead of fixed draws based on completed project stages.
Progress billing allows you to send invoices regularly that more closely match your cash requirements. If the project is held up, you can still bill and get paid for the work completed to date.
Remind your customers to pay
Your cash flow depends on getting paid on time, so don’t be shy about asking for the money you are owed.
Many contractors worry about damaging customer relations by as a result of asking too assertively to get paid, but a friendly reminder can be a help to both parties. An end-of-month statement summarising outstanding amounts is an excellent way to gently remind your customers of their obligations.
Collect the money you are owed
In addition to reminding your customers to pay, you need to develop regular (ideally weekly) procedures to monitor and collect your accounts receivable. Begin investigating as soon as invoices become past due. Unfortunately, rather than telling you about a problem they might be having with your work or their own cash flow, some customers simply don’t pay –
and the older an invoice gets, the harder it becomes to collect. Be sure to document all conversations with customers and project managers regarding past due invoices.
Accept electronic payments
By accepting more electronic payments – whether that’s through debit/credit cards or contactless – you can significantly reduce payment cycles. If you integrate a payment system with your accounting software, you can also eliminate the extra step of manual payment data entry. You can also add a ‘pay now’ button to your invoices, making it even easier for your customers to pay you.
In your business plan, be sure to take note of what you need to do to manage cash flow, weather any storms, take advantage of the work you have, and successfully stay in business.
5. Map out how you will win and keep customers
How you secure new business and retain and retarget existing clients is central to your long-term business plan.
Here are some ideas for creating a robust marketing strategy, ranging from setting up a website to word-of-mouth advertising.
Use your contacts
Start by building a database of existing contacts – it’s always much easier to secure work from people who know you than it is to find new customers.
If you are already well-established, then the customers you already have are your best prospects for immediate sales.
They offer the most cost-effective way to increase business because you have already gained a positive reputation with these customers.
They know the quality of your work and trust your business, making them more likely to think of you when fresh projects become available.
Winning new customers
Once you have tapped into your existing customers, it’s time to log those potential leads. The best new customers are likely to match the profile of your current top clients.
Where appropriate, ask existing customers for referrals and develop incentives for customers to refer their networks to you.
Your current customers are a good source of new customer referrals. If you provide excellent service, word-of-mouth referrals will hopefully follow.
But as this is not guaranteed, you need to be proactive.
Set up a simple website that sets out your proposition and why you are the best person for the job. Don’t forget to ask happy clients for short testimonials and photographs of your work that you can add for credibility.
Ensure your price points and contact details stand out, and let people know when they can expect to hear back from you.
On that note, always be quick to respond to any online inquiries.
Look at which social media channels might work best for you. For example, Facebook could be instrumental in building a small and loyal community, where clients freely upload images of your excellent work and provide ratings.
Websites such as MyBuilder and Checkatrade are also great channels. Many clients use these sites to find specialist builders and place a lot of trust in the reviews and ratings built up by other customers, which could result in driving up your referral rate.
You won’t be the only business looking for work.
Potential clients will take quotes from your competitors to find the best quality work they can find at the lowest price possible. So it’s worth giving some thought to how you approach (and win) bids.
It will work to your advantage to have a section in your business plan outlining how you’ll provide a persuasive pitch when bidding for and estimating work.
Here are some tips on giving yourself the edge on the competition.
Think about how your business adds value
Don’t make the mistake of thinking solely about the price of your services, because your prospective customers certainly aren’t.
People want the best service, great quality work, and a reasonable price, so it is up to you to convince the them that you have the full package and deliver on that promise.
Draw out your specific expertise and specialities that give added value.
Perhaps you can guarantee a faster and more professional service, for example.
Do you also take pains to ensure the site is left completely clean and tidy? Will you give a discount if two jobs are scheduled?
All these seemingly small details will make a huge difference.
Highlight your qualifications and value
Be direct when explaining why your business should be in the top spot for the job at hand.
If prospective customers can see evidence of your experience and reputation, there’s a greater chance of them putting more trust in you.
After all, they want quality, flexibility and great customer service – and are generally prepared to pay a premium to get that.
This is where that website comes in handy – it’s a place to archive your testimonials and showcase proof of your success and reliability.
It’s also worth getting set up on Google My Business, a free, easy-to-use tool for businesses to manage their online presence and boost visibility across Google, including Search and Maps.
To help customers find your business, you can also get it verified and edit your information accordingly.
Make sure your quote meets customer expectations
When you submit a quote, you should understand what the customer will be looking for. Avoid just putting a price down – you need to break down your costs and let them know where you will be spending their money – whether that’s equipment, materials or external contractors to help you out.
Consider sharing a portfolio of your work, showing before and after shots of different jobs you have completed.
You’re excited to get down to work as soon as possible, that’s understandable. But first, you need to get all things tax-related in order.
In your business plan, remember to state how your tax and finances are going to work moving forward. It’s no-good doing this on the job, as getting HMRC on your back at the start of your journey isn’t the best way to launch your business and can end up costing you a fortune in time and money.
If you’ve been working for others, you probably haven’t had to handle some of the specific tax and compliance requirements for anyone working in the building trade.
If you are going to be working for yourself, though, you should have at least the necessary details outlined in your business plan, particularly around these critical areas:
Construction Industry Scheme (CIS)
Whether you are a sole trader or limited company, contractors need to register under the Construction Industry Scheme (CIS).
The CIS is a payment handling system that handles payments from contractors to sub-contractors and passes this to HMRC.
The VAT domestic reverse charge for building and construction services , to give it its full title, is how VAT is handled for certain kinds of construction services in the UK, along with the building and construction materials used directly in those services.
The VAT reverse charge for construction is effectively an extension of the CIS. It applies only to transactions that are reported under the CIS and are between VAT-registered contractors and sub-contractors.
The scheme means that since March 2021, those supplying construction services to a VAT-registered customer no longer have to account for that VAT. Instead, the customer is responsible for it; that means this VAT is considered an input tax for them, as though they have made the supply to themselves.
Basically, for any services they provide, sub-contractors need the contractor employing them to handle and pay the VAT directly to HMRC.
The payment received will be for the cost of the work done (plus materials used), net of any CIS deductions for tax and National Insurance, but no VAT will be paid on the invoice.
If you’d like to learn more about the ins and outs of the VAT reverse charge for construction , check out our expert guide.
An important piece of tax reform called IR35 came into force in April 2021.
If you’re a sub-contractor, you could be affected by IR35 if you are operating as an incorporated business.
There was some confusion about whether IR35 considerations take precedence over the CIS rules. Both seek to withhold tax and National Insurance at the source.
However, the government states that “the off-payroll rules take precedent over the CIS”.
In other words, construction contractors should always consider incorporated sub-contractors as employees if the IR35 rules outlined above apply rather than looking to go down the CIS route.
Contracting and employing staff
If you are planning to take on larger projects rather than select jobs, you might want to put some detail in your business plan on how you intend to take on more people if required.
As we’ve already mentioned, when work is done on a project-by-project basis, you may want to use sub-contractors temporarily, especially at the very beginning of it all. If your business is growing rapidly, then you may want to consider taking on permanent employees.
Compliance with industry regulations
Throughout your business plan, keep in mind that construction is one of the most heavily regulated industries in the UK, which is understandable considering the potential for injury and fatality through improper construction practice. You must have a solid understanding of the regulations you need to stick to as an expert in your trade.
Construction is subject to strict health and safety regulations such as the Health and Safety at Work Act 1974 and Construction (Design and Management) Regulations 2015 (CDM).
With the CDM, for example, contractors are required to “plan, manage and monitor construction work under their control, so it is carried out without risks to health and safety”.
Your business plan should show you have given due consideration to the kind of insurance policies you want to take out.
The risk on construction projects can be quite significant, so you should think about what type of insurance is best suited to your construction business.
Are you looking for more help in creating your construction business plan? Here are some useful resources you can check out.
- Electrical Contractors’ Association (ECA)
- National Inspection Council for Electrical Installation Contracting (NICEIC)
- Chartered Institute of Plumbing and Heating Engineering (CIPHE)
- Gas Safe Register
- Building and Engineering Services Association (B&ES)
- Federation of Master Builders
- Painting and Decorating Association (PDA)
- British Decorators’ Association
- Federation of Small Businesses (FSB)
Final thoughts
Creating a business plan for your construction business can really help you to be clear on what you’re offering your customers and how you’ll deliver on that.
It’s worth taking the time and effort to write one and keep it up to date.
As your construction company evolves, your business plan should do the same. And by documenting everything, it will put you in good stead for future planning, as well as if you require any funding in the future.
Taking the confusion out of construction accounting
Is the challenge of sorting your construction accounting holding your back? This free guide will help to simplify things so you can stay on top of managing your business admin.
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How to start a bookkeeping business: Top tips to help you succeed
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How to Write a Business Plan for Your Construction Company
Imagine that you have a treasure map: it details where a treasure is and what roads you need to take to get there. Without the map, there’s no way you’ll find that chest filled with gems and coins.
There’s no denying the importance of that map, right?
But when it comes to businesses… you’re not really looking for a treasure chest, you’re want to achieve success and help your company grow. Every business, no matter what type, size, or location, needs to know where it’s going and how it’s getting there.
The way to achieve this is not through a map. But through a business plan.
If you have a construction company, a business plan will help you set and accomplish goals for your business. Writing a business plan will help make sure that your business has a clear direction and growth strategy.
Learning how to write a business plan for your construction company is, fortunately, more straightforward than you probably think.
Let’s take a look at why you need a business plan and how you can write one for your construction business.
What is a Business Plan?
A business plan is a document that businesses use to guide their operations. It will help you establish goals for your construction company and plans to achieve those goals.
A standard business plan for a construction company typically includes sections such as:
- Executive Summary
- Company Description
- Market Research
The details in these sections will help ensure that you can effectively manage your construction company so that you may continue to grow and thrive in the competitive construction industry.
Why Do You Need a Business Plan for Your Construction Company?
Every construction company needs a solid business plan for a variety of reasons, including:
- Competition: The construction industry is very competitive. A business plan will help you research and compete against other construction companies in your area.
- Growth: A solid business plan will help you avoid stagnation by establishing clear milestones.
- Financing: Running a construction company is expensive . Every construction company will need to access funding at some point. A business plan will help you be approved for the financing you need to grow your business in the future.
These are just a few of the primary reasons why every construction business needs a business plan, but they aren’t the only ones.
From establishing a management structure to creating a marketing strategy, your construction company will rely on your business plan for many things.
Learning how to write a business plan for your construction company is not that complicated. First, you just need to research your market and your target audience. This will give you a clear picture of what information your business plan is going to have.
Next, you need to start writing. Any respectable business plan needs to have these sections:
1. Executive Summary
Most business plans start with an executive summary.
This is where you introduce your construction company, the company’s owners, and where you should give a brief overview of your company.
This section should include:
- Why you started your construction company
- What your goals are
- How your construction company fits into the market
- Where your plan to offer your services
- Projected profits and expenses
Keep this section brief. You’ll go into more detail in the later sections of your business plan.
2. Company Description
Your company description is essentially a more detailed version of your executive summary.
- What are your major expenses?
- Who are your competitors?
- What is your specialty (i.e., commercial or residential construction)?
This section is your opportunity to explain what your company is and why you expect it to be successful.
3. Market and Competition
You need to perform thorough market research to complete this section of your business plan.
This section should include items such as:
- Who your competition is (similar construction companies to yours in your area)
- How you can compete with them
- Where the best location for your company is
- Who your target customers are
- How you meet your customers’ needs
4. Services
You should create a list of services that your construction company provides and how much you charge for your services.
Services could include:
- Commercial building
- Design work
It’s vital to assess your market to determine what services you can offer to maintain constant work throughout the year.
5. Marketing
Every business, no matter what type, relies on a successful marketing strategy. This strategy should be explained in your business plan.
This can include:
- Marketing budget
- Social media
- Your website
6. Management
In this section, you should detail the management structure of your construction company.
You should be sure to explain:
- Who your management is
- What each person’s role is
- How much each person is paid
- Why each person is valuable to your business
This section will likely be shorter than other sections but is very important.
7. Finances
One of the most critical sections of your business plan is the finances section.
This is where you should include items such as:
- Operating costs
- Employee wages
- Expected sales
- Expected profits
- Business expenses
- Financial projections
Potential investors and lenders will need a clear picture of your construction company’s finances before making a decision.
This section will also help you create an adequate budget for your construction company.
Along with your finances section, you can include a part for financing.
From increasing cash flow to purchasing equipment, most construction companies require funding at some point.
In this section, you can include:
- How much funding you need
- What you need funding for
- How you can repay your loan
- How much funding you expect to need in the future
- How this funding will generate revenue for your construction company
This section will make it much easier for your construction company to find the financing you need in the future.
9. Appendix
Lastly, you can include an appendix, which should contain any documents or information that didn’t fit into any other sections.
This section is your chance to convey any information that you think will help investors or lenders better understand your construction company’s goals and intentions.
By following these steps and completing all the sections described above, you can get started on a comprehensive business plan for your construction company today.
If you need any help getting started, check out this excellent construction company business plan template from Bplans .
Consider a Business Loan to Grow Your Construction Company
Construction companies, like any other business, rely on business loans for several things, from purchasing equipment to hiring employees.
When writing the ‘funding’ section of your business plan, you should be able to determine how much financing you need and what you need it for.
Once you’ve done this, it might be time to consider applying for a business loan to increase your working capital and invest in the growth of your company.
Are you ready to invest in the growth of your construction company? We invite you to keep reading:
How to get a business loan for your construction company
At Camino Financial, we offer small business loans with favorable terms. Our fast approval times makes us one of the top choices for construction business owners like you, who usually have to wait longer than any other industry to receive payments from clients. Therefore, they need a quick solution that fills in the gap in cash flow.
With Camino, you could receive your funds directly deposited in your account in as little as two days!
Check if you qualify for a loan
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Business plans
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Business plan templates take your business to the next level
If you’re starting a new business, or changing or expanding an existing one, it’s critical to have a solid plan to guide your decisions. A Microsoft business plan template can help get you started. Business plan templates offer step-by-step instructions and prefabricated slides for your executive summary, company overview, financial plan, and more. You’ll even find a business plan template for specific industries including business plan templates in Word for healthcare providers, professional services, and retail. Enlist your management team, or for a sole proprietor, trusted family and friends, to contribute to your plan using a checklist business plan template in Excel. Assign tasks and deadlines to keep everyone accountable and on track. There are also free business plan templates to help you determine your business’ legal structure, define your target audience, and map out your marketing plan. Explore all the business plan template options to find what suits your needs.
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We choose people over projects, building trust through relationships and putting people at the heart of everything we do. Skyline is all about building a better experience-one that's transparent, inclusive, and leads to growth.
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FGDA Construction Company, 1222 Carrie Lee Way, San Jose, CA (Owned by: Francisco De Alba Gutierrez) holds a General Building license according to the California license board.
Their BuildZoom score of 101 ranks in the top 12% of 336,931 California licensed contractors.
Their license was verified as active when we last checked. If you are thinking of hiring FGDA Construction Company, we recommend double-checking their license status with the license board and using our bidding system to get competitive quotes.
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- BuildZoom verified this license was active as of December 2022 . Verify this license's status for FGDA Construction Company at the California Contractors State License Board .
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- Building permit records show that FGDA Construction Company has worked on 7 permitted projects.
FGDA Construction Company Employees
In California, any remodeling or construction project that exceeds $500 (labor and materials), requires a contractor to have an active license with the California Contractor State License Board (CSLB).
Fgda Construction Company currently holds license 988159 (General Building), which was Active when we last checked.
The CSLB is one of the highest rated licensing boards in the US. Applicants are required to pass a written board exam and prove at least four years of prior, relevant work experience. In addition, the CSLB requires all license holders to maintain at least $2,500 in operating capital and provides you with a range of other consumer protections.
Contractors in California are required to carry workers' compensation insurance if they have employees and proof of liability insurance with the cumulative limit of $1 million for licensees with five or fewer persons, and an additional 100,000 for each additional member over five, not to exceed $5 million total.
All licensed contractors in California are required to maintain a bond, which provides you with financial recourse in case they perform defective work or violate license regulations. If you feel as though you have been taken advantage of, you should leave feedback on the contractor's BuildZoom profile and file a complaint with the CSLB.
Fgda Construction Company has a $15,000 bond with Hudson Insurance Company.
California contractors are required to submit their fingerprints to the board, which are then checked against criminal records held by the California Department of Justice (DOJ) and Federal Bureau of Investigation (FBI) prior to obtaining a valid contracting license.
The BuildZoom score is based on a number of factors including the contractor's license status, insurance status, verified work history, standing with local consumer interest groups, verified reviews from other BuildZoom users and self-reported feedback from the contractor.
When it comes to major construction work or even minor alterations to your home, hiring the wrong contractor could result in incomplete or defective work. You may even find yourself dealing with huge liability claims. BuildZoom does the homework for you and helps you hire the right contractor.
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Starting a business checklist
Last Updated: 28 February 2023
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1 Make key decisions
Get help to start.
When starting a business, there is a range of advice and support available from government and other organisations.
- Use our Expertise and advice finder to search for expert businesses advisors who can help guide you through starting your business.
- Attend business events and training to help you develop the tools, skills and knowledge required to start your business. Use our Events and training finder to find out what’s on near you or online.
- You can find grants and programs from across government to help start and grow your business.
Decide on a business structure
When starting a business you must decide on a business structure. Your business structure identifies how you operate as a trading business and can affect your legal and tax obligations. There are a number of business structures you can select from, including:
- sole trader – the simplest structure available, it gives you full control
- company – more complex, it limits your personal liability because it’s a separate legal entity
- partnership – made up of 2 or more people who distribute income or losses
- trust – a trustee is responsible for business operations.
Learn more about different business structures and how to choose one.
Choose a business name
Once you have decided on a name, you should understand what is required to ensure you have exclusive use of your name throughout Australia.
Find out what you'll need to consider when choosing a name for your business and how to protect it.
Consider registering your domain name to create your online identity and brand.
Know what registrations, licenses and permits you need
When you’re ready to start your business, it’s important to know what registrations you need. These registrations will depend on your chosen business structure, location, industry, whether you employ staff and the type of business you’re operating.
- The Business registration – help me decide tool can help you work out the basic business and tax registrations you should consider applying for.
- You'll need licences and permits to get approval to do certain activities. The Australian Business Licence and Information Service (ABLIS) can help you find the licences, permits and council approvals you need for your business.
If your business doesn't have the right registrations it can affect your tax rate or result in penalties or fines.
Select a business premises
Choosing the right location for your business can be vital to your success. Each business has different priorities and needs. Understand what to consider when looking for the right business location - external site - external site and premises.
If you are running a home-based business, there are specific tax obligations you need to know. Learn about your tax, insurance and license obligations - external site - external site and where you can go to find support if you are running a business from home.
Look before you lease
Understand the difference between an employee and contractor.
It’s important to determine if you’re considered a contractor or an employee.
If you have been engaged as a contractor but believe you’re an employee, you may be in a sham contracting arrangement - external site . A sham contracting arrangement is when an employer attempts to disguise an employment relationship as a contractor relationship. They may do this to avoid certain taxes and their responsibility for employee entitlements.
Contractors run their own business, sell a service to others, and can work for more than one client at a time. The taxation and super obligations of a contractor will be different to an employee.
Employees work in someone else’s business, are paid a wage and their work is controlled by an employer.
Read the Fair Work Ombudsman’s independent contracting - external site page to understand the different entitlements of employees and contractor.
Employee or contractor decision tool
Check the differences between employees and contractors - external site on the Australian Taxation Office (ATO) website. The tool can help you to work out your tax and superannuation obligations. - external site
2 Plan your business
Develop your business plan.
Developing a business plan can help you set yourself up for success when starting your business. Having a business plan can:
- help you prioritise your business goals and objectives
- give you control over your business and help you succeed
- help you to seek finance from banks and investors.
Business plan template
Research your market.
Researching your market can help you to get a better understanding of your customers and their needs. It can also help you identify your competitors.
By researching your market, you will be able to better focus your marketing efforts and make well informed decisions about business opportunities.
Learn how to research your market, including goods and services, customers and your competitors.
Develop your marketing plan
Writing a marketing plan can help you define your marketing strategy and identify the best activities and channels to market your products or services. Having a marketing plan can help you to:
- identify your target market and attract customers
- set goals and time frames for marketing activities
- map out a strategy for your marketing activities and how to evaluate them.
Marketing plan template
Learn how to develop a marketing plan with our marketing plan template.
Set up your digital presence
An online business, or simply selling your products or services online, can help you reach a much wider customer base. An online shopfront can also help you tie in your online presence with your sales system.
You should consider:
- setting up a website for your business and understanding how you can make it easy to find
- utilising social media to help promote your business and connect with customers online
- understanding how you can sell your product or service online.
The Digital Solutions program works with small businesses to make the most of digital tools and offers broader advice specific to your business needs. Learn how the Digital Solutions program can help you or find out more about doing business online .
Protect your business
If you operate online, it's important to have good IT practices to protect your systems and information. Back up your data regularly and store a copy at an external location. It is also important to protect your business from cyber threats .
3 Set up your business finances
Get resources to help with business finances.
Grants and other funding programs are available from Australian, state and territory governments and in some cases from local councils. However, there are generally no grants available for starting a business.
Knowing who to approach for finance can help you find the best finance option for your business. Learn about different resources to help with your business finances such as financial professionals, counsellors or advisors.
Forecast your cash flow
Cash flow statement template.
Use our cash flow statement template to help forecast your businesses finances.
Understand your tax
Understanding taxes and meeting your taxation obligations can save you time and money. By paying the right amount of tax, you can also avoid late payment penalties. Make sure you understand the different types of tax that could apply to your business. Some of the taxes you may need to pay include:
- goods and services tax (GST)
- income tax for business
- capital gains tax (CGT)
- fringe benefits tax (FBT)
- pay as you go (PAYG) withholding.
Small businesses can access tax breaks and small business concessions. Visit the ATO to work out if you’re a small business entity .
Tax deductions
Find more information about the tax requirements for your business.
4 Protect your business
Meet work health and safety requirements.
You must manage the risks to the health and safety of your employees, customers, visitors and suppliers. Each state and territory has its own workplace health and safety (WHS) laws and a regulator to enforce them.
Learn more about WHS and the requirements in your state or territory.
Protect your intellectual property
Most businesses have some form of intellectual property (IP). IP is the property of your mind or exclusive knowledge, it can be anything from a name, creation or idea.
It’s important to understand how to protect your IP. Some forms of IP rights require formal application and examination before you can claim a right to ownership. Other forms of IP protection such as copyright do not need to be registered.
Understand the types of IP and how to protect your business.
Prepare for the unexpected
During an emergency, your main aim is to ensure your business continues operating. It’s important to prepare your business for an emergency situation before it happens.
- By carefully researching and planning before an emergency happens, you’ll be ready to act quickly and effectively. Find out how to prepare your business for an emergency and make sure your business and staff are ready.
- An emergency management plan will help guide your business before, during and after an emergency. Use our emergency management plan template to step you through.
Choose your insurance policies
Having the right insurance protects your business, customers and income. Insurance needs can vary and will depend on your business. Some forms of insurance are required for Australian businesses.
- Workers’ compensation insurance is compulsory if you have employees.
- Public liability insurance covers you for third party death or injury, and is compulsory for certain types of companies.
- Third party personal injury insurance is compulsory if you own a motor vehicle. This is often part of your vehicle registration fee.
Understand the different types of insurance and which ones your business needs.
5 Know the law
Know the legal essentials.
When you start a business, there are many laws your business may need to comply with.
There are legal requirements for:
- business registrations
- fair trading
- privacy
- employment
- contractors
- franchising
- intellectual property
- importing and exporting
- environmental protections
- terms and conditions.
You should consider consulting with a legal expert or business adviser to understand which laws you will need to follow.
Find out the most common laws your business may need to comply with.
Understand fair trading
Fair trading laws ensure that trading is fair for your business and your customers.
It is important to understand what fair trading laws there are and how Australian federal and state laws can protect you, your business and your customers from unfair trading practices.
- The Competition and Consumer Act 2010 regulates fair trading in Australia and governs how all businesses in Australia must deal with customers, competitors and suppliers. While the Act is a national law, each state and territory also provides additional consumer protections within their own fair trading legislation.
- Australian Consumer Law protects consumers of a product or service. Guides are available to help you understand specific consumer law topics .
Understand what fair trading laws your business needs to comply with to protect your business and customers.
Meet standards and codes
Product standards.
You must ensure your products (or product related services) comply with mandatory safety and information standards. These differ between industries. Learn about product safety rules and standards and check for those that apply to your business.
If you operate in the food industry, you may need to comply with standards in the Australia New Zealand Food Standards Code .
Codes of conduct
Industry codes set out standards of conduct for your industry, including how to deal with customers and other businesses. Some codes of conduct are mandatory and others are voluntary to help your business to meet best practice – improving your operations and service, and ultimately becoming more competitive.
Learn more about codes of conduct .
6 Hiring people
Hire an employee, hiring an employee checklist.
We have an entire checklist dedicated to helping you understand what you need to do when you hire an employee . The checklist helps small business owners meet Australian laws and hiring requirements. The checklist covers information about:
- recruitment
- superannuation and tax
- required records
- ending employment.
It also includes tips that might help you throughout the hiring process.
Manage tax and super for employees
If you employ people, each quarter you’ll need to:
- work out how much super to pay on behalf of your employee
- report and pay super contributions electronically using the SuperStream standard by the due date (to avoid the super guarantee charge).
You must collect pay as you go (PAYG) tax from employee payments. Work out the amount to withhold from payments to your employee using the ATO's tax withheld calculator or tax tables .
If the total amount of wages you pay exceeds a certain amount, you may have to pay payroll tax .
Hire a contractor
Employee vs contractor.
You may need to treat your contractors differently to your employees for insurance, tax and superannuation purposes.
Read the Fair Work Ombudsman’s independent contracting page - external site to understand the different entitlements of employees and contractors and why you need to get this right.
Hire an apprentice
Australian apprenticeships and traineeships are formal on-the-job training arrangements between an employer and an employee that can lead to a nationally recognised qualification.
Apprenticeships combine training and paid employment and can be full-time, part-time or school based. Apprentices and trainees are employees, and employers must withhold the correct amount of pay as you go (PAYG) withholding and make superannuation contributions for them.
- Learn how to hire an apprentice or trainee , understand your employer obligations and where you can find support.
- Search for an apprentice through the Australian Apprenticeships - external site website.
No matter what industry you’re in, investing in training through an Australian Apprenticeship can benefit your business and contribute to your bottom line.
7 Keep required records
Set up record keeping systems.
Keeping your records organised can help you understand how your business is tracking, manage your cash flow and meet your tax and superannuation obligations.
Though you can keep records electronically or as hard copies, the ATO recommends electronic record keeping if possible. Digital business or accounting software can make record keeping easier. If you decide to use it, make sure it complies with Standard Business Reporting .
You should store your records in a secure place and keep them backed up in case of a computer failure.
Use the ATO’s Record keeping evaluation tool to understand what records you will need to keep.
Keep tax and superannuation records
You must keep records of all transactions related to your business’s tax and superannuation affairs, including records that support the information you include in your tax returns and reports. In general, you need to keep most records for 5 years starting from when you prepared or obtained the records, or completed the transactions.
The records you need to keep depend on the tax and superannuation obligations of your business and the structure of your business (sole trader, partnership, company or trust).
Visit the ATO to learn more about the tax and super records you need to keep .
Keep employee records
You need to make and keep employee records for 7 years, including records about their:
- hours of work
Read more about keeping employee records .
Employee record templates
You can find handy templates to help manage your employee records on the Fair Work Ombudsman website.
Save your progress
Save your checklist and get a link to it – you’ll be able to continue on from where you were.
You have saved your checklist progress
Download the checklist.
Download the word version of this checklist to print and tick off as you complete the steps.
Use our starting a business guide for more resources.
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- New owner plans makeover for Roanoke County's Oak Grove Plaza
Jeff Sturgeon
- Mar 5, 2023
Oak Grove Plaza on Electric Road in Roanoke County has a new, local owner who plans significant improvements to the longtime commercial center.
- SCOTT P. YATES, The Roanoke Times
An aerial map shows the extent of the Oak Grove Center Plan, highlighting areas with potential for further development. The study covered 173 acres of commercial corridor along Virginia 419, marked on this map as Electric Road.
- Courtesy Roanoke County
A new owner plans to upgrade Oak Grove Plaza, a sleepy Roanoke County suburban shopping center that’s ripe for new homes and businesses, according to a community study.
The venerable strip mall at Electric Road and Grandin Road Extention is showing its age. In the opinion of area residents, it’s tired-looking and unkept. Weather has begun to wear away the raised letters of its roadside marquee.
Kirtesh Patel, the managing member of a real estate company that bought the commercial complex recently, agreed during an interview that the plaza, built in 1964, is an “eyesore” today.
Patel said he is talking with a possible “national tenant” for the center’s largest space, measuring 12,000 square feet, which is now empty.
A lease on the anchor space will fund needed maintenance work, he said, which will involve installing new roofing and HVAC units, resurfacing the parking lot, upgrading parking lot lights and the shopping center sign and repainting buildings.
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“Our goal for the next three years is to just keep the money in it, improve it and hopefully after that break even,” Patel said. “I bought it to keep it.”
Patel is a real estate developer with Omma Management LLC in Salem. An affiliate of Omma paid $4.8 million for the center Jan. 30, according to online Roanoke County real estate records. Cushman & Wakefield — Thalhimer announced the sale.
At least 16 businesses operate there, including three restaurants.
Nickey Roberts, who operates a pet grooming business in the plaza, said she would welcome sitting down with Patel to discuss her lease. Because her lease renews monthly, “it’s been years of uncertainty here,” she said. “I haven’t wanted to invest any money in it because without a lease, they can tell you to get out.”
Patel said that, under his plan, each tenant will “get a longer lease so they can invest in their business and feel more secure about staying there.” Five tenants have signed new leases so far, Patel said.
On a separate parcel, the owner of a convenience store and gas station has placed his big bet on the Electric Road business corridor. Timir Patel of Bonsack bought a closed service station that had been a Shell and undertook a total makeover. For nearly $1.4 million, he acquired the old station, removed a mechanic’s shop, built a convenience store, changed the pumps and improved the building’s exterior, he said.
A muralist drew a young woman and a flock of butterflies on the side of the building so it no longer would have a “gas station look and feel,” he said.
“We are doing much better than what we had projected,” he said.
Oak Grove Plaza is the first parcel west of Roanoke city limits at Electric Road and Grandin Road Extension. County and city officials have published a 20-year plan on the future of the Oak Grove area. The plan described Electric Road as an aging commercial corridor brimming with opportunities for commercial and residential investment.Before 225 years ago, Native Americans American Indians called the land with two creeks below Poor Mountain home. Scotch-Irish and German immigrants pushed them out and took up farming starting in about 1799, the Oak Grove plan said. Developers further transformed the area from the 1960s to the 1980s from an agricultural area to an auto-centric suburb, with the new, four-laned Virginia 419 (Electric Road) as its Main Street.
The plaza’s first tenant was the grocer Mick-or-Mack, which occupied the now-vacant space Patel is trying to fill. A gas station, pharmacy and bank established locations in the plaza and McDonalds opened in 1996.
Despite the presence of Oak Grove Elementary School and nearby neighborhoods of single family homes, there are virtually no sidewalks, except for in small patches of newer development.
Eighty-six percent of Oak Grove area residents are white and the average household income is high for the Roanoke Valley at $87,013, the Oak Grove study, adopted in 2021, found.
During the next 10 to 20 years, planners advocate for a “medium density infill and mixed-use type development pattern,” with “walkable, dense, one to two-story development with on-street parking, outdoor seating and wide, landscaped sidewalks.”
Further, the plan calls for “new buildings located along 419 in current parking lots.”
The area around the plaza is ideal for new housing and a community center with public events.
Members of the public trashed Oak Grove Plaza in comments to study consultants. “Aesthetics of Oak Grove Plaza are terrible. Needs to be demolished and completely rebuilt,” said one commenter. Oak Grove Plaza is, another said, “really a disgrace.”
Others like the area as it is. “NO to this “reimagining!” NO to high density housing here,” a commenter said.
Government staff intend to “work with private property and business owners to identify and support development or redevelopment of potential catalyst sites,” the plan said. The area also needs pedestrian and bike lanes on Electric Road, better intersections, more landscaping, new signs and “street furniture,” the plan said.
Kirtesh Patel said he had not read the plan and didn’t consider it before the purchase. His focus is facility upgrades, along with transitioning the plaza’s tenants away from month-to-month leases.
Asked if he would consider new construction beside Electric Road, Patel said, “That would be my future, that’s not my immediate goal. My immediate goal is to stabilize it. I think that’s more important than building a new space for profit.”
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Jeff Sturgeon covers business in the Roanoke and New River valleys of Virginia. Phone: (540) 981-3251. Email: [email protected] Mail: 210 Church Ave., Roanoke, VA 24011.
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Amazon Pauses Construction on 2nd Headquarters in Virginia
Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company’s history and the its shifting plans around remote work
This artist rendering provided by Amazon shows the next phase of the company's headquarters redevelopment to be built in Arlington, Va. Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company’s history and shifting landscape of remote work. The Seattle-based company is delaying the beginning of construction of PenPlace, the second phase of its headquarters development in Northern Virginia, said John Schoettler, Friday, March 3, 2023, Amazon’s real estate chief, in a statement. (NBBJ/Amazon via AP) Uncredited
NEW YORK (AP) — Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company’s history and its shifting plans around remote work .
The Seattle-based company is delaying the beginning of construction of PenPlace, the second phase of its headquarters development in northern Virginia, Amazon’s real estate chief John Schoettler said in a statement. He said the company has already hired more than 8,000 employees and will welcome them to the Met Park campus, the first phase of development, when it opens this June.
“We’re always evaluating space plans to make sure they fit our business needs and to create a great experience for employees, and since Met Park will have space to accommodate more than 14,000 employees, we’ve decided to shift the groundbreaking of PenPlace (the second phase of HQ2) out a bit,” Schoettler said.
He also emphasized the company remains “committed to Arlington” and the local region, which Amazon picked — along with New York City — to be the site of its new headquarters, known as HQ2, several years ago. More than 230 municipalities had initially competed to house the projects. New York won the competition by promising nearly $3 billion in tax breaks and grants, among other benefits, but opposition from local politicians, labor leaders and progressive activists led Amazon to scrap its plans there.
In February 2021, Amazon said it would build an eye-catching, 350-foot Helix tower to anchor the second phase of its redevelopment plans in Arlington. The new office towers were expected to welcome more than 25,000 workers when complete. Amazon spokesperson Zach Goldsztejn said those plans haven't changed and the construction pause is not a result — or indicative of — the company's latest job cuts, which affected 18,000 corporate employees.
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The layoffs were part of a broader cost-cutting move to trim down Amazon's growing workforce amid more sluggish sales and fears of a potential recession. Meta, Salesforce and other tech companies — many of which had gone on hiring binges in the past few years — have also been doing the same.
Amid the job cuts, Amazon has urged its employees to come back to the office. Last month, Amazon CEO Andy Jassy said the company would require corporate employees to return to the office at least three days a week, a shift from from the prior policy that allowed leaders to make the call on how their teams worked. The change, which will be effective on May 1, has ignited some pushback from employees who say they prefer to work remotely.
Goldsztejn said the company is expecting to move forward with what he called pre-construction work on the construction in Virginia later this year, including applying for permits. He said final timing for the second phase of the project is still being determined.
When Virginia won the competition to land HQ2, it did so less with direct incentives, and more with promises to invest in the regional workforce, particularly a graduate campus of Virginia Tech that is under construction just a couple of miles from Amazon’s under-construction campus in Crystal City.
Still, there were significant direct incentives. The state promised $22,000 for each new Amazon job on the condition that the average worker salary for those new jobs is $150,000, annually. Those incentives were about $550 million for 25,000 projected jobs.
Arlington County also promised Amazon a cut of its hotel-tax revenue on the theory that hotel occupancies would increase significantly once Amazon builds out its campus. That incentive, projected initially at about $23 million, is dependent on how many square feet of office space Amazon occupies in the county.
Suzanne Clark, a spokeswoman for the Virginia Economic Development Partnership, said state officials are not concerned about Amazon filling its commitments. The total of 8,000 workers now employed at the new headquarters is already running about 3,000 ahead of what was expected at this point, she said.
She said no incentive money has been paid out yet to Amazon. The company is scheduled to submit its first application for payment on April 1, which will be based on the job creation from 2019 through 2022. Amazon would then receive its first grant payment on or after July 1, 2026.
In a statement, Democratic U.S. Rep. Don Beyer, who represents the district, called on the company to “promptly update leaders and stakeholders about any new major changes in this project, which remains very important to the capital region.”
Arlington County Board Chair Christian Dorsey said during a news briefing Friday that Amazon hasn't earned any of the performance-based incentives and it has not received any funds from the county. He said it’s unclear how long the delay might be, but it's “not really disappointing” since officials there had initially projected the buildout to be completed by 2035. Amazon had previously said it planned to complete the project by 2025.
“Amazon is still very much committed — as we understand it — to certainly fulfilling all of their plans and obligations within the window that was envisioned when they struck the deal to come here,” Dorsey said.
Dorsey shared the company notified him about the pause in advance of releasing the information to the public. He said Amazon didn't provide a reason for the delay, but it wasn’t challenging to guess it was tied to the economic uncertainty in the county.
“They are really trying to take a pause and think about this consciously. And make decisions that not only make sense in light of current conditions but expected future conditions.”
Barakat reported from Falls Church, Virginia.
Copyright 2023 The Associated Press . All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Tags: Associated Press , business , Virginia , Washington , technology
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Amazon pauses construction on second HQ
Amazon is pausing construction of its second headquarters in Virginia following the biggest round of lay-offs in the company’s history and its shifting plans around remote work.
The Seattle-based company is delaying the beginning of construction of PenPlace, the second phase of its headquarters development in northern Virginia, Amazon’s real estate chief John Schoettler said in a statement. He said the company has already hired more than 8,000 employees and will welcome them to the Met Park campus, the first phase of development, when it opens this June.
“We’re always evaluating space plans to make sure they fit our business needs and to create a great experience for employees, and since Met Park will have space to accommodate more than 14,000 employees, we’ve decided to shift the groundbreaking of PenPlace (the second phase of HQ2) out a bit,” Schoettler said.
Schoettler also emphasised the company remains “committed to Arlington” and the local region, which Amazon picked - along with New York City - to be the site of its new headquarters, known as HQ2, several years ago. More than 230 municipalities had initially competed to house the projects. New York won the competition by promising nearly US$3 billion in tax breaks and grants, among other benefits, but opposition from local politicians, labour leaders and progressive activists led Amazon to scrap its plans there.
In February 2021, Amazon said it would build an eye-catching, 350-foot Helix tower to anchor the second phase of its redevelopment plans in Arlington. The new office towers were expected to welcome more than 25,000 workers when complete. Amazon spokesperson Zach Goldsztejn said those plans haven’t changed and the construction pause is not a result - or indicative of - the company’s latest job cuts, which affected 18,000 corporate employees.
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The lay-offs were part of a broader cost-cutting move to trim down Amazon’s growing workforce amid more sluggish sales and fears of a potential recession. Meta, Salesforce and other tech companies — many of which had gone on hiring binges in the past few years — have also been doing the same.
Amid the job cuts, Amazon has urged its employees to come back to the office. Last month, Amazon CEO Andy Jassy said the company would require corporate employees to return to the office at least three days a week, a shift from the prior policy that allowed leaders to make the call on how their teams worked. The change, which will be effective on May 1, has ignited some pushback from employees who say they prefer to work remotely.
Goldsztejn said the company is expecting to move forward with what he called pre-construction work on the construction in Virginia later this year, including applying for permits. He said final timing for the second phase of the project is still being determined.
When Virginia won the competition to land HQ2, it did so less with direct incentives, and more with promises to invest in the regional workforce, particularly a graduate campus of Virginia Tech that is currently under construction just a couple of miles from Amazon’s under-construction campus in Crystal City.
Still, there were significant direct incentives. The state promised US$22,000 for each new Amazon job on the condition that the average worker salary for those new jobs is US$150,000, annually. But those incentives — about US$550 million for 25,000 projected jobs — are not supposed to be paid out until 2024 at the earliest. Goldsztejn, the Amazon spokesperson, said the company “has not received any incentives to date related to the construction of HQ2 and the 8,000 jobs that we’ve created in Arlington since 2018.”
Arlington County also promised Amazon a cut of its hotel-tax revenue on the theory that hotel occupancies would increase significantly once Amazon builds out its campus. That incentive, projected initially at about US$23 million, is dependent on how many square feet of office space Amazon occupies in the county.
The county said in a statement it “values the ongoing partnership” it has with Amazon throughout the creation of the second headquarters, which it noted has always been a multiyear project.
“We’re confident Amazon remains committed to the second phase of the project – PenPlace – and its benefits to the community,” it said.
Amazon had previously said it planned to complete the project by 2025.
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Construction of $10B high-speed train connecting Southern California, Las Vegas begins
Brightline high-speed train would travel up to 200 mph between california, nevada.
FOX Business Flash top headlines for March 3
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Developers have struck a labor deal for the construction of a bullet train planned for rapid transit between Southern California and Las Vegas.
Brightline, the construction company tasked with constructing the high-speed train system, has partnered with the High-Speed Rail Labor Coalition.
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Residential homes stand in the city of San Bernardino, California. (Jonathan Alcorn/Bloomberg via Getty Images / Getty Images)
"Our nation’s first high-speed rail system will be operated and maintained by union labor, a statement of the strength of the American workforce," Brightline Holdings CEO Mike Reininger said.
The system will depart from San Bernardino, California, and have stops in Victor Valley, Hesperia, Apple Valley, Rancho Cucamonga and the Las Vegas Strip .
LAWYERS SUED BY LENDING COMPANY; SAYS SHE USED MILLIONS FOR LAS VEGAS GAMBLING
Generated image of planned Brightline bullet train. (Brightline)
Reininger continued, "As the most shovel-ready high-speed rail project in the United States, we are one step closer to leveling the playing field against transit and infrastructure projects around the world, and we are proud to be using America's most skilled workers to get there."
Brightline West is a planned 218-mile train system spanning from Southern California to Las Vegas that will boast trains capable of reaching speeds upwards of 200 miles an hour.
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Panoramic view of Las Vegas strip at night in Nevada. The Strip is home to the largest hotels and casinos in the world. (iStock)
The Brightline West system will not connect directly to Los Angeles, but will utilize the existing Metrolink infrastructure for transport to San Bernardino.
The $10 billion project is expected to create 35,000 jobs and hopes to complete the train system by 2027.
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Amazon pauses construction in Virginia on its second headquarters
The Associated Press
This artist rendering provided by Amazon shows the next phase of the company's headquarters redevelopment to be built in Arlington, Va. Amazon is pausing construction of its second headquarters there following the biggest round of layoffs in the company's history and the shifting landscape of remote work. NBBJ/Amazon via AP hide caption
This artist rendering provided by Amazon shows the next phase of the company's headquarters redevelopment to be built in Arlington, Va. Amazon is pausing construction of its second headquarters there following the biggest round of layoffs in the company's history and the shifting landscape of remote work.
NEW YORK — Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company's history and shifting landscape of remote work.
The Seattle-based company is delaying the beginning of construction of PenPlace, the second phase of its headquarters development in Northern Virginia, said John Schoettler, Amazon's real estate chief, in a statement. He said the company has already hired more than 8,000 employees and will welcome them to the Met Park campus, the first phase of development, when it opens this June.
Amazon Drops Plans For New York Headquarters
"We're always evaluating space plans to make sure they fit our business needs and to create a great experience for employees, and since Met Park will have space to accommodate more than 14,000 employees, we've decided to shift the groundbreaking of PenPlace (the second phase of HQ2) out a bit," Schoettler said.
He also emphasized the company remains "committed to Arlington" and the local region, which Amazon picked - along with New York City - to be the site of its new headquarters several years ago. More than 230 municipalities had initially competed to house the projects. New York won the competition by promising nearly $3 billion in tax breaks and grants, among other benefits, but opposition from local politicians, labor leaders and progressive activists led Amazon to scrap its plans there .
Amazon will send workers back to the office under a hybrid work model
In February 2021, Amazon said it would build an eye-catching, 350-foot Helix tower to anchor the second phase of its redevelopment plans in Arlington. The new office towers were expected to welcome more than 25,000 workers when complete. Amazon spokesperson Zach Goldsztejn said those plans haven't changed and the construction pause is not a result - or indicative of - the company's latest job cuts, which affected 18,000 corporate employees.
Tech companies have been cutting jobs
The job cuts were part of a broader cost-cutting move to trim down its growing workforce amid more sluggish sales and fears of a potential recession. Meta, Salesforce and other tech companies — many of which had gone on hiring binges in the past few years — have also been trimming their workforce.
Amazon's Grand Search For 2nd Headquarters Ends With Split: NYC And D.C. Suburb
Amid the job cuts, Amazon has urged its employees to come back to the office. Last month, Amazon CEO Andy Jassy said the company would require corporate employees to return to the office at least three days a week, a shift from from the prior policy that allowed leaders to make the call on how their teams worked. The change, which will be effectively on May 1, has ignited some pushback from employees who say they prefer to work remotely.
Goldsztejn said the company is expecting to move forward with what he called pre-construction work on the construction in Virginia later this year, including applying for permits. He said final timing for the second phase of the project is still being determined. The company had previously said it planned to complete the project by 2025.
Amazon pauses construction on 2nd headquarters in Northern Virginia
Action News On Demand
NEW YORK -- Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company's history and its shifting plans around remote work.
The Seattle-based company is delaying the beginning of construction of PenPlace, the second phase of its headquarters development in northern Virginia, Amazon's real estate chief John Schoettler said in a statement. He said the company has already hired more than 8,000 employees and will welcome them to the Met Park campus, the first phase of development, when it opens this June.
"We're always evaluating space plans to make sure they fit our business needs and to create a great experience for employees, and since Met Park will have space to accommodate more than 14,000 employees, we've decided to shift the groundbreaking of PenPlace (the second phase of HQ2) out a bit," Schoettler said.
He also emphasized the company remains "committed to Arlington" and the local region, which Amazon picked - along with New York City - to be the site of its new headquarters, known as HQ2, several years ago. More than 230 municipalities had initially competed to house the projects. New York won the competition by promising nearly $3 billion in tax breaks and grants, among other benefits, but opposition from local politicians, labor leaders and progressive activists led Amazon to scrap its plans there.
In February 2021, Amazon said it would build an eye-catching, 350-foot Helix tower to anchor the second phase of its redevelopment plans in Arlington. The new office towers were expected to welcome more than 25,000 workers when complete. Amazon spokesperson Zach Goldsztejn said those plans haven't changed and the construction pause is not a result - or indicative of - the company's latest job cuts, which affected 18,000 corporate employees.
The layoffs were part of a broader cost-cutting move to trim down Amazon's growing workforce amid more sluggish sales and fears of a potential recession. Meta, Salesforce and other tech companies - many of which had gone on hiring binges in the past few years - have also been doing the same.
Amid the job cuts, Amazon has urged its employees to come back to the office. Last month, Amazon CEO Andy Jassy said the company would require corporate employees to return to the office at least three days a week, a shift from from the prior policy that allowed leaders to make the call on how their teams worked. The change, which will be effective on May 1, has ignited some pushback from employees who say they prefer to work remotely.
Goldsztejn said the company is expecting to move forward with what he called pre-construction work on the construction in Virginia later this year, including applying for permits. He said final timing for the second phase of the project is still being determined.
When Virginia won the competition to land HQ2, it did so less with direct incentives, and more with promises to invest in the regional workforce, particularly a graduate campus of Virginia Tech that is under construction just a couple of miles from Amazon's under-construction campus in Crystal City.
Still, there were significant direct incentives. The state promised $22,000 for each new Amazon job on the condition that the average worker salary for those new jobs is $150,000, annually. Those incentives were about $550 million for 25,000 projected jobs.
Arlington County also promised Amazon a cut of its hotel-tax revenue on the theory that hotel occupancies would increase significantly once Amazon builds out its campus. That incentive, projected initially at about $23 million, is dependent on how many square feet of office space Amazon occupies in the county.
Suzanne Clark, a spokeswoman for the Virginia Economic Development Partnership, said state officials are not concerned about Amazon filling its commitments. The total of 8,000 workers now employed at the new headquarters is already running about 3,000 ahead of what was expected at this point, she said.
She said no incentive money has been paid out yet to Amazon. The company is scheduled to submit its first application for payment on April 1, which will be based on the job creation from 2019 through 2022. Amazon would then receive its first grant payment on or after July 1, 2026.
In a statement, Democratic U.S. Rep. Don Beyer, who represents the district, called on the company to "promptly update leaders and stakeholders about any new major changes in this project, which remains very important to the capital region."
Arlington County Board Chair Christian Dorsey said during a news briefing Friday that Amazon hasn't earned any of the performance-based incentives and it has not received any funds from the county. He said it's unclear how long the delay might be, but it's "not really disappointing" since officials there had initially projected the buildout to be completed by 2035. Amazon had previously said it planned to complete the project by 2025.
"Amazon is still very much committed - as we understand it - to certainly fulfilling all of their plans and obligations within the window that was envisioned when they struck the deal to come here," Dorsey said.
Dorsey shared the company notified him about the pause in advance of releasing the information to the public. He said Amazon didn't provide a reason for the delay, but it wasn't challenging to guess it was tied to the economic uncertainty in the county.
"They are really trying to take a pause and think about this consciously. And make decisions that not only make sense in light of current conditions but expected future conditions."
Barakat reported from Falls Church, Virginia.
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Proposed plan to ‘ban’ new roads sparks controversy among drivers: ‘Our approach for the last 70 years is not working’
“We are also investing in real alternatives.”
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Photo Credit: iStock
It feels impossible to drive anywhere without seeing a construction project filling up part of the road. A new highway here or a bypass over there — it seems our streets are ever-expanding.
That’s why it’s shocking to hear that one country has decided to stop building new roads entirely. In a surprising move, Wales has scrapped nearly all plans for new major road projects in an effort to curb pollution.
As Time reports , the Welsh government established a panel in 2021 to review the impact of its road projects. The projects consisted of everything from bypasses and highways to new bridges and major expansions, mostly designed to help with traffic.
Overall, the panel only approved 15 projects to move forward. The others were scrapped completely or postponed indefinitely.
With Wales’ goal of becoming net zero by 2050, the panel concluded that more roads would lead to more private vehicle use — fueling more demand for new roads. Personal vehicle use is a huge factor in overall carbon pollution, considering a typical car produces over 100,000 pounds of carbon pollution yearly.
“Round and round we go, emitting more and more carbon as we do it, and we will not get to Net Zero unless we stop doing the same thing over and over,” Lee Waters, Wales’ Deputy Climate Change Minister, recently told the Welsh parliament.
This does not mean Wales will never have a new road or will stop investing in its transportation. Instead, the panel recommended a strict set of rules for new projects, including that they must either: support a shift to public transport, walking, or cycling; improve safety through small-scale change; help the Welsh Government adapt to the impacts of the changing climate; or provide connections to jobs and areas of economic activity in a way that maximizes public transport.
“Let me be very clear at the outset, we will still invest in roads. In fact, we are building new roads as I speak, but we are raising the bar for where new roads are the right response to transport problems,” Waters said . “We are also investing in real alternatives, including investment in rail, bus, walking, and cycling projects.”
Like many large, headline-grabbing initiatives, the project has had its fair share of criticism. Residents have shown dissatisfaction through road-blocking protests and op-eds in the Welsh press.
However, Welsh officials are standing firm, reasserting that while major change isn’t easy, it is necessary.
“Our approach for the last 70 years is not working … This decade, Wales has to make greater cuts in emissions than we have in the whole of the last three decades combined,” Waters said . “Greater cuts in the next 10 years than the whole of the last 30 — that’s what the science says we need to do if we are to future-proof Wales.”
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Amazon pauses construction on 2nd headquarters in Virginia
Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company’s history and the its shifting plans around remote work
NEW YORK -- Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company’s history and its shifting plans around remote work.
The Seattle-based company is delaying the beginning of construction of PenPlace, the second phase of its headquarters development in northern Virginia, Amazon ’s real estate chief John Schoettler said in a statement. He said the company has already hired more than 8,000 employees and will welcome them to the Met Park campus, the first phase of development, when it opens this June.
“We’re always evaluating space plans to make sure they fit our business needs and to create a great experience for employees, and since Met Park will have space to accommodate more than 14,000 employees, we’ve decided to shift the groundbreaking of PenPlace (the second phase of HQ2) out a bit,” Schoettler said.
He also emphasized the company remains “committed to Arlington” and the local region, which Amazon picked — along with New York City — to be the site of its new headquarters, known as HQ2, several years ago. More than 230 municipalities had initially competed to house the projects. New York won the competition by promising nearly $3 billion in tax breaks and grants, among other benefits, but opposition from local politicians, labor leaders and progressive activists led Amazon to scrap its plans there.
In February 2021, Amazon said it would build an eye-catching, 350-foot Helix tower to anchor the second phase of its redevelopment plans in Arlington. The new office towers were expected to welcome more than 25,000 workers when complete. Amazon spokesperson Zach Goldsztejn said those plans haven't changed and the construction pause is not a result — or indicative of — the company's latest job cuts, which affected 18,000 corporate employees.
The layoffs were part of a broader cost-cutting move to trim down Amazon's growing workforce amid more sluggish sales and fears of a potential recession. Meta, Salesforce and other tech companies — many of which had gone on hiring binges in the past few years — have also been doing the same.
Amid the job cuts, Amazon has urged its employees to come back to the office. Last month, Amazon CEO Andy Jassy said the company would require corporate employees to return to the office at least three days a week, a shift from from the prior policy that allowed leaders to make the call on how their teams worked. The change, which will be effective on May 1, has ignited some pushback from employees who say they prefer to work remotely.
Goldsztejn said the company is expecting to move forward with what he called pre-construction work on the construction in Virginia later this year, including applying for permits. He said final timing for the second phase of the project is still being determined.
When Virginia won the competition to land HQ2, it did so less with direct incentives, and more with promises to invest in the regional workforce, particularly a graduate campus of Virginia Tech that is under construction just a couple of miles from Amazon’s under-construction campus in Crystal City.
Still, there were significant direct incentives. The state promised $22,000 for each new Amazon job on the condition that the average worker salary for those new jobs is $150,000, annually. Those incentives were about $550 million for 25,000 projected jobs.
Arlington County also promised Amazon a cut of its hotel-tax revenue on the theory that hotel occupancies would increase significantly once Amazon builds out its campus. That incentive, projected initially at about $23 million, is dependent on how many square feet of office space Amazon occupies in the county.
Suzanne Clark, a spokeswoman for the Virginia Economic Development Partnership, said state officials are not concerned about Amazon filling its commitments. The total of 8,000 workers now employed at the new headquarters is already running about 3,000 ahead of what was expected at this point, she said.
She said no incentive money has been paid out yet to Amazon. The company is scheduled to submit its first application for payment on April 1, which will be based on the job creation from 2019 through 2022. Amazon would then receive its first grant payment on or after July 1, 2026.
In a statement, Democratic U.S. Rep. Don Beyer, who represents the district, called on the company to “promptly update leaders and stakeholders about any new major changes in this project, which remains very important to the capital region.”
Arlington County Board Chair Christian Dorsey said during a news briefing Friday that Amazon hasn't earned any of the performance-based incentives and it has not received any funds from the county. He said it’s unclear how long the delay might be, but it's “not really disappointing” since officials there had initially projected the buildout to be completed by 2035. Amazon had previously said it planned to complete the project by 2025.
“Amazon is still very much committed — as we understand it — to certainly fulfilling all of their plans and obligations within the window that was envisioned when they struck the deal to come here,” Dorsey said.
Dorsey shared the company notified him about the pause in advance of releasing the information to the public. He said Amazon didn't provide a reason for the delay, but it wasn’t challenging to guess it was tied to the economic uncertainty in the county.
“They are really trying to take a pause and think about this consciously. And make decisions that not only make sense in light of current conditions but expected future conditions.”
Barakat reported from Falls Church, Virginia.
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Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs
- Delay affects three office towers, ‘Helix’ conference center
- Move coincides with biggest job cuts ever, remote work reality
Amazon.com Inc. is pausing construction on its sprawling second headquarters near Washington, a decision that coincides with the company’s deepest ever job cuts and a reassessment of office needs to account for remote work.
John Schoettler, Amazon’s real estate chief, confirmed the pause in a statement to Bloomberg News. Schoettler said the company remains committed to Arlington, Virginia, where by 2030 Amazon has committed to spend $2.5 billion and hire some 25,000 workers. But the construction moratorium will delay the online retailer’s full arrival at its biggest real estate project, and could create headaches for local developers, as well as construction and service workers banking on Amazon’s rapid expansion.
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Easily complete your construction business plan! Download the construction business plan template (including a customizable financial model) to your computer here<- Financial Highlights VB Residential Construction Company is seeking $200,000 in debt financing to launch its construction business.
How To Write a Construction Business Plan Below are links to each section of a construction business plan: Executive Summary - The executive summary is the most important part of your business plan. It's where you explain what your business is and why it will be successful.
This is the standard construction company business plan outline which will cover all important sections that you should include in your business plan. Executive Summary Mission Statement Management and Personnel Marketing Financing Mission Statement, Goals, and Objectives Business Overview Mission Statement Goals & Objectives Goal 1 Goal 2
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Construction Business Plan Final Proposal in PDF Create a Construction Business Plan in 6 Steps: Step 1: Business Description Step 2: Goals and Objectives Step 3: Resources Needed Step 4: Strategies Step 5: Financial Statements Step 6: Review and Edit Final Thoughts General FAQs 1. What Is a Construction Business Plan? 2.
Here are the key areas to explore in your business plan. 1. Write your business summary 2. Decide on your business structure 3. Do your market analysis and competitor research - where do you fit in? 4. Crunch the numbers: What is coming in and going out? 5. Map out how you will win and keep customers 6. Form a strategy for winning jobs 7.
A business plan is a document that businesses use to guide their operations. It will help you establish goals for your construction company and plans to achieve those goals. A standard business plan for a construction company typically includes sections such as: Executive Summary Marketing Company Description Market Research Management
A Microsoft business plan template can help get you started. Business plan templates offer step-by-step instructions and prefabricated slides for your executive summary, company overview, financial plan, and more. You'll even find a business plan template for specific industries including business plan templates in Word for healthcare ...
Recently, Granite VP of Business Development Bill McGowan hosted a discussion on the Construction Manager/General Contractor (CM/GC) method of project delivery. This article from Mr. McGowan explains how this delivery method opens new avenues for addressing risk with owners and designers, and is showing its worth in the current environment of ...
Skyline's San Diego team specializes in life science and tenant improvement construction projects. We represent 35 years of experience building commercial interior projects throughout the Puget Sound region. Our team of local construction experts have built some of the most technical and complex commercial projects throughout the Chicagoland area.
Cocco Construction Company in Redwood City, CA | Photos | Reviews | 29 building permits. Recent work: Honey bear tree lot temp power pole. General Building, Earthwork And Paving License: 810991, 494065, 337317.
FGDA Construction Company, 1222 Carrie Lee Way, San Jose, CA (Owned by: Francisco De Alba Gutierrez) holds a General Building license according to the California license board. Their BuildZoom score of 101 ranks in the top 12% of 336,931 California licensed contractors. Their license was verified as active when we last checked.
Download the checklist. Download the word version of this checklist to print and tick off as you complete the steps. Starting a business checklist. docx · 0.07 Mb.
Oak Grove Plaza on Electric Road in Roanoke County has a new, local owner who plans significant improvements to the longtime commercial center. SCOTT P. YATES, The Roanoke Times. An aerial map ...
March 3, 2023, at 11:01 a.m. Amazon Pauses Construction on Second Headquarter in Virginia. FILE - The Amazon DTW1 fulfillment center is shown in Romulus, Mich., April 1, 2020. Amazon has closed ...
This artist rendering provided by Amazon shows the next phase of the company's headquarters redevelopment set for Arlington, Virginia. Amazon is pausing construction of its second headquarters in Virginia following the biggest round of lay-offs in the company's history and its shifting plans around remote work.
Brightline, the company behind the planned bullet train from Southern California to Las Vegas, has reached a labor agreement with the High-Speed Rail Labor Coalition.
NBBJ/Amazon via AP. NEW YORK — Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company's history and shifting landscape of ...
Action News On Demand. NEW YORK -- Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company's history and its shifting plans ...
The company earlier this year announced plans to cut 18,000 jobs. Amazon has paused construction on its second headquarters in Virginia, known as "HQ2," the company said Friday. The first phase of ...
In a surprising move, Wales has scrapped nearly all plans for new major road projects in an effort to curb pollution. As Time reports, the Welsh government established a panel in 2021 to review the impact of its road projects. The projects consisted of everything from bypasses and highways to new bridges and major expansions, mostly designed to ...
Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company's history and the its shifting plans around remote work. By HALELUYA ...
94.90. USD. +2.77 +3.01%. Amazon.com Inc. is pausing construction on its sprawling second headquarters near Washington, a decision that coincides with the company's deepest ever job cuts and a ...