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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.

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.

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

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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

Where Can I Get a Construction Business Plan PDF?

You can download our free construction business plan template PDF here . This is a sample construction business plan template you can use in PDF format.

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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 and permits.

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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How to Write a Construction Company Business Plan

Learn how to create a successful business plan for your construction company, from defining your goals to analyzing the industry and crafting effective strategies.

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Start Your Construction Business!

Are you planning to start your own construction company? Having a well-crafted business plan is essential for success. A construction business plan outlines your goals, strategies, and financial projections, serving as a roadmap for your company’s future. In this article, we’ll guide you through the process of creating a construction business plan, step by step. Let’s dive in and get your construction company off to a strong start.

What is a construction company business plan?

A construction company business plan is a robust document that outlines the goals, strategies, and financial projections of your construction business. It serves as a blueprint to plan your company’s operations and helps you make informed decisions. A well-written business plan provides clarity, identifies potential challenges, and sets a clear path to success.

No two businesses will have the same business plan, and construction companies are no exception. When creating your business plan, you’ll need to customize everything to your needs. That said, there are a few basic steps you can build from. Let’s walk through those. 

Create a branded cover page

To start your construction business plan, create a professional and branded cover page. This page should include your construction company name , logo , and contact information. By presenting a visually appealing cover page, you create a positive first impression and set the tone for the rest of your plan.

Executive Summary

The executive summary is a brief overview of your construction company and its objectives. This section should capture the reader’s attention and highlight the key points of your business plan. Include information about your company’s mission, vision, target market, and competitive advantage. Keep it concise, engaging, and persuasive.

Company Overview

Provide a detailed description of your construction company. Discuss its legal structure, ownership, history, and location. Explain your company’s values, goals, and the types of construction projects you specialize in. Highlight any unique selling propositions that differentiate your company from competitors. Paint a clear picture of who you are and what you bring to the construction industry.

When writing the company overview section of your construction business plan, it’s important to provide a full picture of your company. Start by discussing the legal structure of your construction business, whether it’s a sole proprietorship , partnership , limited liability company (LLC), or corporation . Explain the ownership structure and provide background information about the founders and key team members.

You can also highlight other features that make you unique, including your expertise in the field, your specialties, your goals, and so on. This section should ultimately give readers a clear look at your company’s background and aspirations.

Industry Analysis

Conduct a thorough analysis of the construction industry to identify opportunities and challenges. Research and analyze your target market , including the demographics and needs of your potential customers. Assess the local construction market and study the competition. Highlight what sets your company apart from others in the industry, such as specialized expertise, innovative approaches, or exceptional customer service.

Since the construction industry is dynamic and competitive, making a thorough industry analysis is crucial for success. Start by researching and understanding your target market. Identify the demographics, characteristics, and preferences of your potential customers. Consider factors such as age, income, location, and specific construction needs they may have. This analysis will help you tailor your services and marketing strategies to meet their requirements effectively.

Next, assess the local construction market. Study the current trends, growth patterns, and market demand in your area. Identify any niche markets or underserved segments that present opportunities for your construction business. Determine the size and scope of the market and project future growth prospects based on economic indicators and construction forecasts. Identify your key competitors and strategize how you’ll set yourself apart from them to set yourself up for success.

Services Offered

Outline the services your construction company offers. Describe the different types of construction projects you plan to undertake, such as residential, commercial, or industrial. Emphasize your expertise and the value you provide to clients. Explain how your services meet the needs of your target market. Showcase any unique or niche services that give you a competitive edge.

The services offered section of your construction business plan is where you highlight the range of construction projects your company handles. By clearly outlining your construction services, showcasing your expertise, and emphasizing the value you offer, you’ll instill confidence in potential clients and set the foundation for successful project acquisition.

We can help!

Writing a construction business plan may seem daunting, but with ZenBusiness, it’s easier than ever. Our business plan template provides a structured framework to guide you through the process, and you can customize it to fit your construction business. Additionally, our LLC formation service or corporation formation service can help you get started with your business quickly and efficiently. We offer robust support down the road, too, such as getting an EIN number and maintaining a registered agent . Our expertise can help you hit the ground running, allowing you to focus on growing your construction company.

Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.

Construction Business Plan FAQs

How do i start a construction business plan.

To start a construction business plan, begin by clearly defining your company’s goals, target market, and unique value proposition. Conduct thorough research on the construction industry, including market trends, competition, and customer needs. Outline the key sections of your business plan, such as the executive summary, company overview, industry analysis, services offered, marketing plan, operations plan, and financial analysis. Gather relevant data and information to support your plan, and make sure that your goals and strategies are realistic and achievable.

What should a construction business plan include?

A construction business plan should include essential sections that provide a clear roadmap for your company’s success. These sections typically include an executive summary, company overview, industry analysis, services offered, marketing plan, operations plan, and financial analysis. The specifics in each section will vary from one construction company to another, but the basic components are the same.

What type of construction business is most profitable?

The profitability of a construction business depends on various factors, including market demand, location, competition, and specialization. However, certain types of construction businesses tend to be more lucrative. For example, commercial construction, such as office buildings, shopping centers, and hotels, can be highly profitable due to the larger scale and‌ higher project budgets. Specialized niches, such as green or sustainable construction, luxury residential projects, or infrastructure development, can also offer higher profit margins.

Ultimately, identifying and capitalizing on market opportunities, differentiating your business with unique expertise or services, and delivering exceptional value to clients are key factors in achieving profitability in the construction industry.

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7 Steps to Start Your Own Construction Business

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Construction is one of the top industries for startups; however, it also has one of the highest rates of failure. 63.6% of construction companies close within the first five years, whether due to a lack of business knowledge and experience, lack of finances or lack of planning. 1 You don’t have to be one of them.

Researching your market, drafting a concrete plan for how you’ll run your business and getting help can ensure that you have a strong foundation to grow your business on. It can also help you avoid the pitfalls that so many new construction companies run into. So where do you start?

1. Research Your Local Market

Your first question should be whether a construction company is even a viable option in your area. After all, if the construction market is already oversaturated and customers are happy with the current local companies, it might be hard to get a foothold in the industry, let alone create a successful business.

So start with market research. You’ll want to know how many local construction companies are already operating in your area, what they specialize in, how much they charge, and what their reputation is. Coupled with this, you should also have a similar understanding of your potential customer base — how many of them are there, their median age and status, their interests, etc. Knowing these things can help you develop a better business plan and give you a competitive edge for when you finally step out onto the playing field.

Where to Find Construction Market Research

One of the first and probably easiest places you can start your market research is with the U.S. Small Business Administration (SBA). They offer a wide range of free resources that provide hard data on customers and business markets. For example, with the SBA you can look up the demographics of your audience (age, gender), their employment statistics, their spending habits, and more. You can also look into the production and sales statistics of your market.

While it’s a great starting point, the SBA offers more of a general overview, and you might want more specific information. This is where local industry publications can help you flesh out your research.

You can find most local publications by typing your city name + “construction industry publications” into Google. This should pull up a list of publications or direct links to some of the construction magazines in your area. From there, you can either page through their digital issues or, if those are unavailable, set up a subscription. These magazines will be full of ads and articles about local companies and the state of the construction industry around you.

Doing Your Own Construction Market Research

Lastly, one of the best ways to gauge your potential consumer base, is to speak with them directly. To get direct customer feedback, try using surveys or questionnaires, focus groups, or individual interviews. Depending on your approach and your contacts, this can be both time consuming and possibly costly. Whether you’re reaching out to your network or doing paid market research, you want to make sure that you have a good idea of what you want to ask before you start. Consider general questions like:

  • how often they hire contractors in your trade
  • their biggest issues with contractors
  • what’s most important to them when hiring a contractor

These answers can give you a good amount of insight into how you should craft your business plan.

2. Write Your Business Plan

After you feel you have a good understanding of your local market, you can begin drafting a business plan. This is one of the most important documents you’ll create when first starting out as it can help you keep your business on track and increase your likelihood of success. This plan is also what you’ll give to lenders to help source funding, which means it’s incredibly important to be detailed and put all that market research to good use.

Putting Together a Construction Business Plan

Standard business plans will include the following:

  • How you’ll structure and manage the business
  • What kind of services you’ll provide
  • What types of jobs you’ll bid on
  • Who your target market is
  • The number of employees you’ll have starting out
  • How you plan to market yourself
  • The initial estimated cost of starting and maintaining the business
  • How much you expect to make in your first year and other important KPIs

However, as a contractor you’ll also want to consider your construction accounting processes in your business plan. For example, how will you perform billing? Some clients may want a fixed lump sum price, whereas others may wish to see a time-and-material breakdown. Net 30 billing terms can be customary, but will you offer discounts to incentivize faster payments?

You should also think about whether you plan to operate as a cash or accrual business and whether you’ll recognize revenue by completed contract or a percentage of completion. If you aren’t sure what would work best for you, connect with a construction CPA. They can talk with you about some of these important business considerations.

Getting Help With Your Business Plan

Don’t let the idea of a business plan intimidate you — you’re the expert in your business, and there’s always help available. If no one within your company has formal writing experience and you’d feel more comfortable with a professional drafting the document, you can hire someone to help.

Nationally and locally, there are also multiple programs you can contact for guidance. SCORE is a nonprofit mentorship program partnered with the SBA. They enable you to work with one or several mentors both online and in-person. Through the SBA you can also access the Small Business Development Center (SBDC) list, which contains all the SBDCs in your state. They offer a variety of free business consulting services and low-cost training.

Finally, there are also specific organizations aimed at helping women, minorities, and veterans get their new businesses off the ground.

3. Register Your Business

Once you have your business plan together, it’s important to register your business to make it a legal entity, which can provide personal liability protection, legal benefits, and tax benefits. Registering your business is usually as simple as registering the name of your company with state and local governments. However, as not every state may provide them automatically, you should also take the extra step to register your business on the federal level to get your federal tax ID or Employer Identification Number (EIN). This will also allow you to trademark your business name and logo with the United States Patent and Trademark Office .

4. Find the Right Licenses & Permits

After you’ve registered your business, it’s time to get your licenses and permits in order. Depending on your state, the location of your business, the size of your company, and even the type of construction you plan to do, you’re likely going to need some type of license or permit to operate legally — on both the federal and state level.

Federal law requires permits for certain business practices, from transportation to drilling and mining. For example, there are special permits required for oversize/overweight vehicles. That means that if you’ll be transporting building materials, prefabricated walls, or equipment you could need a permit. For federal permits and licenses you can simply select your business activity on the federal licenses and permits page on the SBA website.

On the state level, your location is the main factor in license and permit requirements. However, you’ll first need to check local zoning ordinances. According to the SBA, zoning ordinances “can restrict or entirely ban specific kinds of businesses from operating in an area,” and while “you might have fewer zoning restrictions if you base your business out of your home. . . zoning ordinances can still apply even to home-based businesses.” 2 So make sure your chosen location is viable before you start checking which permits and licenses the county and city require.

Once you have the OK on your location, you can check which permits and licenses you need through your state’s website or the local county courthouse.

Without the correct license or permits, your construction company may not only be looking at hefty fees and tax penalties but also the possibility of governmental closure.

5. Secure Insurance & Liabilities

While you’re considering licenses and permits, you should also start thinking about insurance for you and your employees. Given the dangerous nature of many construction jobs, making sure you’re covered in case of an injury is vital. Accidents happen, and it’s important for any construction business owner to make sure they fully understand all the possible liabilities involved. Even if you aren’t ready to commit to a complete contingency plan at the start, you should at least have a realistic idea of what it would look like for your company if something were to happen.

At the very least, most states and construction contracts will require you to carry valid workers’ compensation insurance. But you may find you need general liability insurance, professional liability insurance, auto insurance, and builder’s risk insurance as well. So the sooner you start planning, the better it will be for you.

6. Get the Funding You Need

Finally, you want to make sure you have the money to finance your new business. If you aren’t able to use your own savings, you can secure funding elsewhere in a variety of ways. These include private lenders, bank loans, government loans, credit unions, or government funding programs. The USA.gov site offers a full list of sites where you can find loans and grants that will work for you.

On top of basic financing, you should also think about how you’re going to ensure funding for your projects. Remember that construction has notoriously low profit margins. The irregularity of construction billing cycles means that cash flows are incredibly important for your business. Many projects will require a disproportionate amount of costs at the beginning of the project. Cash receipts may not come for a while. So while you can front the money yourself for material and equipment costs, you may run into a problem when a client is late on paying or outright refuses to. Instead, it may be better to use the draw process where you ask for money for any project up front and bill consistently and proactively as the job progresses.

To be safe, you may want to have an emergency cash fund to draw from if you encounter any problems.

7. Grow Your Business

One of the greatest contributing factors to longevity in the industry is customer loyalty and reputation. Your aim is to walk away from every project and client on good terms. The best way to do this is to be honest and communicative. As much as possible, be upfront with your clients from the beginning about how long a project is going to take. Update them throughout so they understand when problems arise.

You should also have a clear project timeline in your contracts — including contingency time for unexpected delays due to weather, equipment, etc. You may also want to include terms of payment, a claims for extra work clause and an estimate on the scope of the work. Everything you discuss with your client should be in writing, no verbal-only deals. This is the best way to protect not just you and your company, but your client as well.

The more accountable and open you are with clients, the more likely they are to use you again. And more than that, the more likely they are to recommend you to others. That can set you up for a snowball-effect of success.

Conclusion: Don’t Go It Alone

Starting a construction business isn’t the simplest process, but countless generations of contractors know how rewarding it can be. Contractors are naturally resourceful and hardworking and continually find ways to make their businesses work. At the same time, construction has some of the highest closure rates for companies in their first five years. So the biggest challenge is starting on a strong foundation and staying successful.

That’s why the best advice anyone can give you if you’re looking to start your own construction business is this:  Don’t go it alone. Join industry associations, network and get help from professionals like construction-specific CPAs and utilize construction accounting software . Partner with people that will give you the resources and support to help your hard work translate into real success.

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How to Write a Construction Company Business Plan (12 Steps)

You are starting a construction business. You own a construction company. Do either of those statements sound like you? If so, you need a construction company business plan. Building a construction company is hard work, but you don’t reach success on hard work alone. You also need strategic planning, an in-depth understanding of the competition, and a way to finance your business. These are all things that construction business plans address. In this post, we take a deep dive into how to write a business plan for a construction company. Read on to learn everything you need to know.

Why Do You Need a Business Plan for Your Construction Company?

Before you get too deep into “how” to write a home-building business plan, it’s helpful to understand “why” you should write one. There are three main considerations here: competition, growth, and financing.

Competition

The 50 U.S. construction companies with the highest annual revenue all made more than $1.5 billion in 2020 , with the highest-grossing company topping $14.4 billion. This is the level thousands of construction companies in the U.S. and around the world are trying to reach, and the fight to get there is fierce. With that in mind, you need to understand your competition. This is a primary purpose of a construction company business plan. You probably already know who your competitors are, but you need to do market research and write it all down. A construction or general contractor business plan will force you to do that.

Illustration #01

Like it or not, if you’re not growing, you’re more than likely dying in the construction industry. And your financial backers will want to see that you intend to grow. That means you need to have a plan for growth — how to achieve it and how to manage it when it happens.

How are you going to fund the expansion of your business? How will you get the initial capital to buy equipment? There are plenty of questions related to finances when you’re building a construction company. And any large or small construction company business plan will answer them and help you get the financing you need in the process.

Two Types of Information to Include in a Construction Business Plan

The information you include in your commercial or residential construction business plan will fall into two categories: industry information and general business information. Both are important to your business for different reasons. Perhaps the most important reason to include thorough information in your business plan is that it demonstrates your knowledge of the industry and business in general to the investors and banks who will read the plan when considering you for a loan. See below to learn more.

Industry information:

What do you know about the construction industry that others don’t? In other words, what makes your approach to your construction business different from the rest? This is what investors in your business will want to know as they try to gauge your chance of success. Don’t rely on empty buzzwords here — words like friendly, service, reliable, and the like. These are fine words, but you need to be more specific. How does what you know about the construction industry make you capable of running a successful construction business? Make sure those points are clear in your construction company business plan.

General business information:

In addition to your expertise in home building, you need to demonstrate some knowledge of general business practices. That means construction business plans need to have detailed information on the basic running of the business, the plan to get construction jobs, cash flow, corporate taxes, and similar items.

How to write a construction business plan

A business plan for a construction company is not a single page of text. It’s a complex, multi-part document that requires a lot of information. While not all construction company business plans are the same, most of them have a similar format. They include 12 key sections, which we explore in more detail below.

Executive Summary

Your executive summary is your introduction. It needs to summarize the rest of the document but not go into too much detail. Try to limit the executive summary section to a single page if at all possible, and cover topics like the following:

  • The reason you are starting a construction company
  • Your goals for the business
  • Where you plan to operate and offer residential construction services
  • Your estimated business expenses and profits
  • How your home building business will fit into the existing market

Again, don’t go into too much detail here. The details will come later in the business plan. Just hit the high points.

Company Description

The second part of your construction business plan will echo some of the points you raised in the executive summary, but it will go into deeper detail. In the company description section, the takeaway point for a reader should be why you think your business will be successful. To that end, you need to describe any specialties you or your business partners have, any special positioning you can achieve within the market, and any revenue streams or reduced expenses that can make you more competitive. You will also need to describe the existing competition here. Who are your competitors, how successful are they and why do you expect to outperform them? These are all questions your company description should answer.

Operational Plan

You will get into even more detail in this section. But instead of focusing on who you are and what your business will be, you will use the operational plan section to describe how your business is going to run day in and day out. You’ll need to cover a few key areas: Technology: List and describe the pieces of technology and equipment you will use in the operation of your construction business. This can include initial construction equipment purchases and office technology like computers, programs, and even home design software .

Bidding processes: How do you plan to bid on residential construction jobs? This is an important part of generating revenue for your construction company, so it needs to be described in detail in your business plan.

Production schedules: When you get a home-building job, you are instantaneously on a tight schedule. As you know, it takes a lot to take a home from paper to real life, and the logistics behind that process are complex and unforgiving. So, make sure your business plan demonstrates your knowledge of production schedules and, more specifically, how you plan to structure your company’s production schedules.

Inventory partners: Being willing to build homes is one thing, but having the right partnerships in place to get the job done is entirely another. Which vendors and suppliers will you work with? Why? Do you have any existing relationships that could prove beneficial to your business? Answer these and any related questions in your operational plan.

Market and Competition

You’re probably not going to be the first construction company in town. Who else is already established in your intended service area? How successful are they? Your construction company’s business plan needs to contain an in-depth analysis of the competition you’re going to face, as well as the market for residential construction services in the place you plan to operate. The reason why is simple. You need to know who your competitors are so you can see what they’re doing and look for ways to grab some market share from them. And you need to know whether people want the service you are going to provide. This section will cover all of that — for both your knowledge and that of your financial backers.

Illustration #2

Construction is a service, but it contains within it multiple related services that you can choose to offer or not offer to your customers. This is going to be an important part of your business plan — starting a construction business without a list of services you will provide is like opening a store without knowing what you’re going to sell inside it. So, make a list. Here are some of the construction-related services you may want to consider:

  • Residential construction
  • Commercial construction
  • Home design
  • Landscape work

Sales & Marketing

You may not be a marketer at heart, but you’re going to have to have a plan to market your construction business and bring in home-building jobs. The sales and marketing plan you write in your business plan should be as detailed as possible. Include information on the following subtopics:

  • Your marketing budget
  • Your company’s marketing assets, such as a website
  • Advertising plans (such as billboards, newspaper ads, and search engine advertising)
  • Whether and how you plan to leverage social media
  • Loss leader plans, such as offering free home design consultations
  • How you will measure the success of your marketing efforts

In addition to marketing, this section of your construction company business plan will need detailed information on your sales processes. Will you have dedicated salespeople? How will your sales team get leads? Will salespeople be paid on commission? Answer these questions and more.

Managers can make or break a construction business. These are the leaders of your company — the ones who will define the path your business follows and bear the responsibility for the successes and failures you have along the way. That’s why this is an essential part of your home-building business plan. Management may shift over time, but at the start, you need to have a good idea of who’s going to be in charge of what. You will also need to include an explanation of why you have chosen these people, who they answer to, and what you are planning to pay them.

For financial backers, this is going to be one of the most important sections of your business plan. They want to know how you plan to manage the money they may give you so they have an idea of whether this is a sound investment. Give them as much detail as possible. Cover everything from your revenue projections and operational costs to employee wages and the price of your services. Wherever possible, you need to include exact figures based on hard data and research instead of soft estimates based on your own beliefs. Remember — lenders and investors have a head for numbers, so they will immediately notice if you’ve left something important out.

The funding section of a business plan for a construction company is an extension of the finance section, but it’s not the same thing. This is where you describe how you plan to obtain the money you need to start, run, and expand the business. The audience reading your business plan will hopefully play a part in the funding — that’s the whole idea, anyway — but you need to convince them that you will be able to use their funds wisely to generate revenue. Be specific about how much startup funding you’re going to need and why. Go into detail about how you will repay a loan or generate returns for investors. Describe how initial funding will be used in your business — to buy equipment, hire talented employees, market your business, and so on. With these bases covered, you will set yourself up to receive the funding you need to get this business off the ground.

Financial Projections

You’re hoping for a bright future for your new construction company. That’s a given. But you need to show that bright future with the financial projections in your business plan. Include projections for revenue, expenses, and profits for five years out from your starting date. Don’t just say you plan to bring in $100 million by the fourth quarter of year three — show the numbers behind how you’ll get there. You will be able to reference the information from the other sections of your business plan to support your projections.

Funding Request

If you need investments or a loan to start your construction business, you need to include in your business plan a specific funding request. This is where you ask for the money you need. Here again, you need to provide some detail:

  • How much money do you currently have for the business?
  • How much are you contributing alongside the investment or loan you are seeking?
  • What assets do you already own, and what assets do you still need to acquire?

Many of the facts and claims you have made in other sections of your construction company business plan will have supporting information or related documents that won’t quite fit. The appendix is where you include those references. Any extra information that could help financial backers understand your proposed business should be included here. And don’t worry — this section will not likely be read in its entirety, so you can include everything. In general, more information in a business plan is better than less.

Final Thoughts

Writing a construction company business plan is a big task, but if you break it down into small steps, you can get it done. From the executive summary to the appendix, your business plan needs to demonstrate your ability to achieve success in the residential construction industry. With your business plan written and your company started, you’ll need to get home-building jobs and please your clients. Cedreo can help with that. Our home building software can help you quickly create 3D home designs to help clients visualize the project and make them much more likely to close the deal with you. Interested? Learn more about our home building software here, or contact us for more information.

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How to Write a Successful Construction Business Plan That Sets You Up for Success

by: Daniel Quindemil

What if I told you there was a “copy and paste” formula that any construction business can follow and be successful?

Seriously…. there is…

Before I started I AM Builders, I helped grow a Commercial Construction Company from a $0 to $7,000,000 per year company.

I initially started I AM Builders to be an estimating firm. But as time went on I realized there was a big problem in the construction industry…. Contractors know how to build, but no one teaches them how to grow a company.

As a side a note: we specialize in estimating projects for busy contractors . If you ever need help estimating projects, we can prepare your entire estimate and bid for you and we can walk you through all strategies to help you close. Learn more about our estimating service for Contractors and Subcontractors .

Every entrepreneur wants to write a business plan. And yes, in most businesses you need a business plan to get financing, venture capital money, etc.

But construction is the only industry where you can start a business with zero financing become a million-dollar business almost overnight.

And guess what….. it doesn’t take a fancy business plan.

When I walked into Caroni, they were a drywall labor company and had just starting getting their first GC jobs. We didn’t know how to grow a construction business .

We started trying out different ways to get leads, estimating strategies, negotiations strategies….

We tried it all….

And after all was said and done, the secret to growing a construction business can be summarized in these three steps.

This is your business plan.

5 Pillars of a Contractor Business Plan

1. develop a system to get a ton of potential projects and client leads, 2. develop an estimating team that can bid jobs fast, 3. develop a follow-up system to negotiate and close sales.

4. Set Up Project Management Systems to Keep Everything Running Smoothly

5. Build Your Field Team and Perform an Outstanding Job on Every Single Project

Before you start… do this.

Here are some questions to ask yourself:

  • What do you want your reputation to be?
  • How do you want to handle your bidding process?
  • How much time do you have for your construction company?

Next, it’s time to get some specific goals.

Too many contractors are only caught up with their jobs and the busyness of their daily schedules that they never sit down and think, “ what am I working toward ?”

This is why it’s important to get into the specifics and have clear goals on what to achieve.

For more info on how to prepare detailed goals and targets read this post: Grow Your Construction Business in 3 Months .

After helping over 1200 contractors grow their company, we’ve concluded that there are 5 steps to creating an effective business plan.

Let’s get into each one.

1. Determine Your Lead Generation Strategy

How are you getting your leads?

Before doing any work on the field, before estimating the job, before even getting the job , you need to capture the lead for the job.

That’s why it’s the first step in this list.

So the question is, how do you capture leads? Well, the first thing you should probably do is educate yourself deeply on this specific topic alone. Lucky for you, we have an article on how to get more jobs for you to dive into.

Next, you need to sign up for lead generation services like iSqft and Bluebook to consistently get the opportunity to bid on jobs. They both serve as the lead generation tool and the bidding tool as well, so it’s a 2-in-1 deal.

If you want more details on these lead gen services and a few other ones, check out this article .

After investing in these lead gen services you’ll have potential jobs coming in guaranteed, but there’s also another strategy you can take to get more leads.

It involves building a Select 12 Cluster (S12C). An S12C is essentially a list of 12 potential clients that you handpick and focus on that will provide you with a steady stream of business.

For example, if you’re a general contractor you would do a quick Google search for developers in your area,

GCs near me example

Then you would pick 12 of them and either send out personalized emails, give them all a call, or visit their offices.

But you’re not just going to introduce yourself, remember that goal is to let them know you exist. Not any other contractor… but you . Stand out from other contractors, display authority and give value by helping them with their jobs, or by giving potential clients advice. This goes a long way in developing a relationship with everyone in your S12C.

The main idea with the S12C is to put your horse blinders on and laser focus on 12 ideal clients and develop relationships with them so they can start using you as the go-to when they need work with your trade.

So just to recap:

  • Invest in lead generation services
  • Set up and develop a S12C

After securing leads consistently and reliably, it’s time to have a specific plan to bid and estimate those jobs.

2. Establish Your Bidding and Estimating Process

The second step after getting leads is to have a system that bids and estimates those jobs for you at lightning speed so you can focus most of your time on selling the job.

There’s 3 options for you to consider:

  • Hire an in-house estimator to work full-time.
  • Hire an estimating service to handle each individual project.
  • Do the whole thing yourself.

If you choose to do it yourself, it will prove to be really tough to expand your business when you’re so deep in it all day. Plus, imagine working for 1 and a half days straight to estimate a project, only to find out your potential client just used you for better pricing (they really do this). Successful contractors are ones that know how to build a team , how to lead them , and how to sell jobs to bring in business.

In other words, delegate as much as possible so you can focus on the thing that really brings in revenue, selling jobs.

So if you’re estimating jobs yourself as a one-man show, then delegate that task as soon as possible, otherwise, you won’t ever be able to effectively grow.

Let’s say you finally decide to hire an estimator to work in your office. The average salary of an estimator is $81,219/Yr, according to Indeed . Then after payroll taxes and insurance (26%), you’re looking at over $102,000 a year!

Which translates to about $8,500/Mn and $2125/Wk. If you want to bid 10 average-sized projects a month, that means you’re paying your estimator $850 per project!

To save money, time, and effort to manage an extra employee(s), the best option is to outsource your estimating to a reliable firm that can produce accurate pricing and only work on a per-project basis, so you only pay when there’s a project to bid, instead of having to pay an estimator full-time whether they’re hard at work or not.

3. Create a Sales Team that Closes Jobs

After you have leads coming in and you’re bidding those jobs at lightning speed without doing the tedious work, it’s time to dedicate most of your time to sell the job.

There are many strategies to closing jobs, but as a whole, it involves investing in the client .

Investing in a client means giving , being patient, and then asking when the time is right. You can give to the client through automatic follow-up or manual follow-up.

Automatic follow-up means using a Customer Relations Manager (CRM) to systematically contact specific people at specific times. It’s a software you can also use it to send mass emails with similar pitches to different clients in your area.

Manual follow-up involves a lot of calling and talking to people. This is on your own time, that’s why it’s called “manual” follow-up.

Before bidding a project, be sure to meet your potential client in person to:

  • See if they’re someone you want to work with
  • Get them to know who you are and what you bring to the table

If someone knows who you are, gets calls from you now and then where you genuinely help them out with any problems or ask how they’re doing…

Who do you think they’re most likely to pick for the job?

This is why it’s critical for contractors to have a S12C where they focus on 12 specific clients and get 80% of their work from them.

It’s ideal for the owner of the construction company to be the main salesperson but if there’s just not enough time in the day (we understand), then hire 1-2 Account Managers who’s entire job consists of talking to potential clients, following up with previous ones, and being the main form of communication between your company and the outside.

4. Set Up Project Management Systems

At this point you’ll have leads pouring in, you’ll be estimating those jobs on autopilot, and you’ll be selling the projects. It’s only a matter of time before you suddenly have a couple projects to work on, and the hard work really begins. This is where you need to understand how to manage subcontractors .

As stated above, the owner of a construction company, or any company for that matter, should focus on leading teams and selling. That’s it. Being on the job site all day stressing and pulling your hair out is not going to bring in new business. Unless you truly love being on the field, you need to delegate everything to seasoned professionals.

But before you go running around and delegating everything, you need to set up a system to manage all your projects so your contracting business can be a coordinated, smooth-oiled machine that pumps out only quality work.

You’re going to need 3-4 software to help you manage your fieldwork:

Bid Management Software

This is what you’re going to use to bid out jobs and keep track of your bids. It’s quick, it’s easy, and it’s a whole lot better than handing people estimates all day and having to remember due dates off the top of your head. If you want to check out some bidding software go take a look at SmartBid and Quick Bid .

Project Management Software

This is software for people on the field to be in constant communication with one another. One of the first steps in professionalizing a construction company is to get a project management software that helps all the workers, supervisors, project managers, and superintendents all be on the same page all the time. Some great P.M.S are CoConstruct , Buildertrend , and Procore .

Accounting Software

It always helps to have all your finances done automatically and as hands-off as possible. Let an accounting software manage all your finances so you can focus most of your effort on bringing in revenue by selling jobs. QuickBooks is the cream of the crop here but Zipbooks and Stripe are also great alternatives.

Estimating Software

This is optional because if you outsource your estimating to qualified estimating firms, then spending money on estimating software won’t be necessary. But if you want to hire estimators in-house or want to do a mix of in-house and out-house estimating, then you’re without a doubt going to need a takeoff and estimating software that can help you be as accurate and as quick as possible. We use Planswift in our office but Bluebeam is also great as well.

You can find software packages that include all-in-one packages like Procore, Corecon, or Buildertrend that include everything you need to professionalize your construction business. The pricing will reflect that, but it’s a necessary investment for your construction company.

5. Found a Field Operations Team

Now that you have project management systems set up, it’s time to create a field operations team. Keep in mind this is only for people in the field , not in the office.

Every construction company is different, some may choose to subcontract work instead of hiring workers and training them, and then others may lease workers from other companies.

So first understand how you want your company to operate, then the next step is to understand the roles of a steamrolling field operations team and how to find the right people for the job.

General Superintendent

This is the main field operations manager. He/she is the one overseeing all the projects a company is currently working on. A general superintendent needs to be comfortable under pressure, an effective leader that gets people to work, and able to raise their voice from time to time.

Project Superintendent

There are the overseers of single projects. They put all their attention on a single job to make sure it runs well. They need to have a deep understanding of construction, their workers, and be on top of their game even when under pressure.

This is the next subdivision in the field. Larger jobs typically get broken up into multiple sections and while they’re all being managed by the project superintendent, the foreman is the one managing specific sections or trades.

Skilled laborers are the true engine behind the construction job. These are the people on the field doing the actual work. Hiring workers is relatively simple but be sure not to fall in the trap of hiring cheaper labor to save money because the reality is all the mistakes they make end up costing more than if you would have hired workers a bit more expensive.

Hire people, train them, and let them train other workers.

We’re not going to have a project manager on the list because they’re not typically on the field but a good project manager will be in the field often to help the superintendent run the job.

That’s how you set up a strategical business plan that set’s you up for success.

Construction can be a tough industry, but a great plan on how you’re going to run your business and even better execution on that plan can make your life a lot easier.

We hope you enjoyed this piece and got some real value from it. Feel free to comment below your $0.02.

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Writing Your Construction Business Plan: The Definitive Guide

A construction business plan is an important document that showcases your company’s objectives and your strategies for growth.

Whether your construction business is a startup or a more established enterprise, you may find yourself in a situation where you need to develop and present a construction business plan.

If you’ve never written one before, you’re probably confused on where to start. Even if you have created a construction business plan in the past, it’s helpful to catch up with modern expectations and trends. Here’s what you need to know about writing your construction business plan—and if you’re creating one to obtain financing, why you might not always need one.

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What Is a Construction Business Plan?

A construction business plan is a formal description of your business goals and how you plan on achieving those objections. It’s essentially an overview of your entire business and a roadmap of the strategies you’ll implement to achieve the next level of growth.

A construction business plan can be used to strategize and think through the next phases of growth. You may also be required to present a business plan in order to secure funding from a bank.

When You Might Need a Construction Business Plan

Many construction businesses will create a business plan for one of two reasons – either you want to strategize the next phases of growth, or you’re looking to secure financing.

In many ways, a construction business plan is like a blueprint—it allows you to assess your situation, define your next moves, and think through ideas before initiating them. It also helps you evaluate the feasibility of different decisions and test their outcomes.

By walking through possible scenarios, you’ll gain insight into your goals and avoid possible pitfalls. Ultimately, a construction business plan can help you execute your next steps with confidence.

Construction companies will also create a business plan when they are applying for financing . Many lenders, especially banks, require a formal construction business plan as part of the application process.

Lenders want to know that their money will be put to good use and that any activities your business pursues will be profitable. By reviewing your construction business plan, among other factors such as your credit score, company history, financials, and more, lenders are able to mitigate their risk.

Not all lenders will make you draw up and submit a formal construction business plan. While this is a common requirement for traditional lenders and banks, online lenders are much more accommodating.

What to Include in a Construction Business Plan

If you’re applying for financing with a traditional lender or bank, know that your chances of approval will rely heavily on your construction business plan. That’s why it’s incredibly important to include all the information lenders will be looking for. Make sure you have the following:

  • Executive summary: This easily skimmable section should be at the top of your construction business plan. It should contain a brief summary of your business plan and your overall objective.
  • Company overview: You want to give lenders a short history and description of your business. Mention your main clients, construction services, and any accomplishments you’re proud of.
  • Market analysis: Discuss your target market’s demographics, key elements of the construction industry, as well as an overview of your top competitors. Be sure to include specific information about your location.
  • Business goals and strategy: Outline your business objectives and how you plan on achieving your goals. Make sure to include how you plan to incorporate the lender’s funds for your next stage of growth. Include details about your marketing strategy, costs, pricing, sales projections, and more.
  • Internal organization and management: Make sure to include information about your construction company’s international organization and management structure. Mention key employees, partners, and outside advisors. Financials: Traditional lenders won’t approve your business for financing if you don’t have sound financials. Incorporate your company’s income statements, balance sheets, cash flow statements, expenditures, and potential earnings over the next few years.

How to Write Your Business Plan

If you’ve never written a construction business plan before, the process may seem daunting. It helps if you consult team members or other business advisors before you send it in.

You may also want to double check information with your accountants, legal team, or other relevant staff members. As you work to write your business plan, make sure to define the following:

  • Construction services: Do you focus on residential, commercial, or industrial enterprises? Pinpoint your exact offerings.
  • Business goals: Do you hope to secure an upcoming project? Are you looking to upgrade your equipment? Or maybe, you want to branch out into new markets or offer new services. Outline exactly what your business goals are.
  • How you plan to use the lender’s funds: Clearly outline how you plan to use the money you receive from the lender. Will you upgrade your equipment? Put the funds towards a bid and hire additional workers?
  • Funding request: You’ll also have to detail how much money you’ll need, terms you’re hoping for, and how you plan to pay back the funds you’re borrowing.
  • Project requirements: Make sure to include how much labor, equipment, and materials you will need to complete your project and reach your goal. Incorporate costs, completion timelines, permits, licenses, and other relevant information.
  • Profitability indicators: How do you know your business objectives will be profitable? Have your competitors had similar ventures and been successful? Do you have an advantage over others within the construction industry? Are there positive market trends you have the opportunity to take advantage of? Discuss these factors in detail.

Construction Company Business Loans

Don’t Stress About Your Construction Business Plan

A construction business plan can prove invaluable if you’re charting the course of your company’s growth. But if you’re only creating one to check a box on a loan application, remember that not all lenders will require you to take on the monumental task of creating a formal proposal—especially as your business rapidly grows.

Writing up a construction business plan can be time-consuming and tedious. If you’d prefer to direct your attention towards more pressing business activities, make sure to consult with National.

National Business Capital helps businesses secure financing by giving them access to a platform of online lenders – and doesn’t require a business plan . Even better, our Business Financing Advisors can help you obtain the funds you need based on qualifications and terms that work for you.

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How To Write a Winning Construction Company Business Plan + Template

Business Plan-TB

Creating a business plan is essential for any business, but it can be especially helpful for construction company businesses who want to improve their strategy or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you will accomplish it. To create an effective business plan, you must first understand the components essential to its success.

This article provides an overview of the key elements that every construction company business owner should include in their business plan.

Download the Ultimate Construction Business Plan Template

What is a construction company business plan.

A construction company business plan is a formal written document describing your company’s business strategy and feasibility. It documents the reasons you will succeed, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Construction Company Business Plan?

A construction company business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Construction Company Business Plan

The following are the key components of a successful construction company business plan:

Executive Summary

The executive summary of a construction company business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

  • Start with a one-line description of your construction company
  • Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your construction business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your construction firm, mention this.

You will also include information about your chosen construction company business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a construction company business plan. Conduct thorough market research to determine industry trends and document the size of your market. Questions to answer include:

  • What part of the construction industry are you targeting?
  • How big is the market?
  • What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a construction company business’ customers may include:

  • Businesses (e.g., office complexes, restaurants, retail stores)
  • General contractors
  • Other construction companies

As you conduct your customer analysis, keep in mind that your target customers may not be aware of your company or product right away. You will need to have a marketing strategy to reach them and get them interested.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or construction company services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

  • Product/Service : Detail your product/service offerings here. Document their features and benefits.
  • Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
  • Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
  • Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your construction company business via word-of-mouth.

Operations Plan

This part of your construction company business plan should include the following information:

  • How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
  • What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present. Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a construction company business include reaching $X in sales. Other examples include hiring a certain number of employees, signing up a certain number of customers, or completing a certain number of projects.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific construction industry. Include brief biography sketches for each team member. Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). This includes the following three financial statements:

Income Statement

Your income statement should include:

  • Revenue : how much revenue you generate.
  • Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
  • Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Construction Company

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

  • Assets : All of the things you own (including cash).
  • Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
  • Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Construction Company

Cash Flow Statement Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

  • Cash Flow From Operations
  • Cash Flow From Investments
  • Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup construction business.

Sample Cash Flow Statement for a Startup Construction Company

Finish with an appendix section which will include:

  • Your complete financial projections
  • A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
  • Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your construction company. It not only outlines your business vision but also provides a step-by-step process of how you will accomplish it.

A well-written business plan is an essential tool for any construction company. The tips we’ve provided in this article should help you write a winning business plan for your construction company.  

Finish Your Construction Business Plan in 1 Day!

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BUSINESS STRATEGIES

How to start a construction business

  • Nirit Braun
  • 11 min read

How to start a construction business

If you have a passion for building, enjoy working with your hands and have a knack for project management, starting a construction business can be a fulfilling and lucrative venture. In this guide, we'll walk you through the process of establishing your own construction business, promoting it through various media channels and building a business website . We’ll also provide you with valuable insights to help you succeed in the industry.

What is a construction business?

A construction type of business focuses on offering a wide range of construction services, such as new construction, remodeling, renovations and repairs. Construction companies typically work on projects that involve building structures, installing infrastructure or providing specialized construction services. These projects can range from small residential renovations to large commercial construction projects.

Starting a construction business requires careful planning, preparation and strategic execution. Here are seven essential steps to guide you through the process:

Define your construction business concept

Develop a business plan

Obtain the necessary licenses and permits

Secure financing or capital

Acquire equipment and establish supply chains

Build a reliable network of subcontractors and suppliers

Establish efficient project management systems

01. Define your construction business concept

Determine the type of construction business you want to establish. Consider the types of projects you want to specialize in, such as residential, commercial or industrial construction (or if you'd smaller projects, check out how to start a handyman business ). Define your target market, geographical area of operation and the unique value proposition you offer to clients.

02. Develop a business plan

Create a comprehensive business plan that outlines your goals, target market, competitive analysis, marketing strategies, financial projections (including how much it costs to start a business) and operational plans. When creating a construction business plan , it should include:

Executive summary : A concise overview of your construction business, its mission and key differentiators.

Market analysis: Research and analyze your target market, competition and industry trends.

Services and specializations: Detail the construction services you offer and any specialized expertise or niche areas you focus on.

Marketing and sales: Define your marketing strategies, including how you will promote your business, attract clients and build a strong brand presence.

Financial projections: Create a financial forecast that outlines startup costs, ongoing operating expenses , revenue projections and profitability analysis.

Operations and management: Describe the organizational structure of your business, key roles and responsibilities and your project management approach.

Once you've written your business plan, write a concept statement to outline your vision.

how to start a construction business, business plan

03. Obtain the necessary licenses and permits

Research the licensing and permitting requirements for your construction business in your area and register your business. This may include obtaining a contractor's license, business registration, insurance coverage and permits for specific construction activities. Ensure compliance with all legal obligations to operate ethically. Before that, select a unique and memorable name for your business using a business name generator . Once you've finalized your business name, make sure to register your business and proceed with obtaining the necessary licenses and permits to establish a strong foundation for your construction business's success and growth.

Be inspired: Construction business name ideas , Contractor business name ideas

how to register your construction business

If you're looking to start a construction business in a specific state, here are some helpful resources:

How to start a business in Massachusetts

How to start a business in Florida

How to start a business in California

How to start a business in Arizona

How to start a business in Texas

How to start a business in Washington

How to start a business in Utah

How to start a business in Michigan

How to start a business in North Carolina

04. Secure financing or capital

Assess your financial needs and explore financing options to raise money for your business. Funding options may include:

Personal savings: Consider bootstrapping from personal savings or investments to contribute to the startup costs of your construction business.

Business loans: Apply for business loans from banks, credit unions or other financial institutions that cater to small businesses.

Investors: Seek potential investors who are interested in supporting construction businesses and are willing to provide capital in exchange for equity or a return on investment.

Equipment financing: If you require specialized construction equipment, consider equipment financing options that allow you to acquire the necessary machinery while spreading out the cost over time.

05. Acquire equipment and establish supply chains

Determine the construction equipment and tools you'll need to operate your business efficiently. This may include heavy machinery, power tools, safety equipment and vehicles. Research reputable suppliers, compare prices and establish relationships with reliable vendors to ensure a steady supply of materials, equipment and other construction necessities.

06. Build a reliable network of subcontractors and suppliers

Identify and build relationships with subcontractors and suppliers who can complement your construction services. This includes tradespeople, such as plumbers, electricians, carpenters and suppliers of construction materials. Establish a network of trusted professionals who can contribute to your projects and ensure timely completion with high-quality workmanship.

07. Establish efficient project management systems

Develop effective project management systems and processes to ensure smooth business operations and successful project execution. This includes:

Project planning: Define project scopes, create detailed timelines and allocate resources effectively.

Communication: Establish clear channels of communication between your team, subcontractors, suppliers and clients to facilitate seamless collaboration and ensure everyone is on the same page.

Cost management: Implement robust cost estimation and tracking systems to monitor project expenses, ensure profitability and avoid cost overruns. You'll need to really understand the cost of starting a business in your chosen industry and then stick to your budget.

Quality control: Set and enforce quality standards to deliver construction projects that meet or exceed client expectations. Regularly inspect work in progress and ensure compliance with industry standards and building codes.

Safety measures: Prioritize safety on construction sites by implementing proper safety protocols, providing training to your team and maintaining a safe working environment.

By following these steps, you'll be on your way to starting your construction business. In the next section, we'll explore strategies for effectively managing and promoting your construction business for long-term success.

Is a construction business profitable?

A construction business can be profitable but success depends on various factors including the type of construction, market conditions, competition, project management, financial management, and your ability to deliver quality work on time and within budget. Some of the main factors affecting how profitable a construction business is include:

If there is a consistent demand for construction services, ranging from residential and commercial projects to infrastructure development and renovations.

In areas experiencing population growth and urbanization, there is a higher demand for residential and commercial properties, leading to increased construction activity and more work for construction businesses.

Public infrastructure projects funded by governments can provide a steady source of work for construction businesses, especially during periods of economic stimulus.

Securing contracts for large-scale projects or ongoing maintenance services can provide stable revenue streams.

Focusing on a specific niche within the construction industry (such as green building, energy efficiency, or historic restoration) can position your business as an expert in that area and attract clients seeking specialized services.

Construction can be cyclical, with periods of high demand during economic booms. Adapting your business strategy to capitalize on these cycles can lead to increased profitability.

Offering additional services like project management, design-build, and consulting can increase your revenue per project.

Establishing ongoing maintenance contracts with clients for repairs, upkeep, and facility management can provide a consistent revenue stream.

Success in the construction industry requires strong project management skills, effective financial management, a commitment to quality work, and a focus on customer satisfaction. A well-defined business plan, thorough risk assessment, and a proactive approach to addressing challenges are crucial for building a profitable construction business. Don't forget to factor in any potential tax liabilities, including corporate tax if relevant.

Tips for managing a construction business effectively

Managing a construction business requires a combination of operational expertise, strategic decision-making and effective leadership. Here are the essential steps to manage your construction business effectively:

Build a strong team: Assemble a team of skilled professionals who share your commitment to quality and client satisfaction. Hire experienced project managers, tradespeople, estimators and administrative staff who have expertise in the construction industry. Invest in ongoing training and development programs to enhance the skills of your team members and foster a culture of continuous improvement.

Streamline operations and processes: Develop streamlined processes and workflows to improve efficiency and productivity. Utilize project management software and technology solutions to automate administrative tasks, track project progress and ensure effective communication across all project stakeholders. Regularly review and optimize your operational procedures to eliminate bottlenecks and enhance project delivery.

Prioritize safety and risk management: Safety should be a top priority in construction projects. Implement comprehensive safety programs and protocols to protect your team members, subcontractors and clients. Conduct regular safety training, inspections and audits to ensure compliance with industry standards and regulations. Mitigate project risks by identifying potential hazards and implementing appropriate risk management strategies.

Foster strong client relationships: Building strong relationships with your clients is essential for the success of your construction business. Establish open lines of communication, provide regular project updates and address any concerns promptly. Deliver projects on time, within budget and to the client's satisfaction to build trust and secure repeat business and referrals.

Continuously adapt and improve: The construction industry is constantly evolving, with new technologies, materials and regulations emerging. Stay informed about industry trends and advancements and be willing to adapt your processes and services accordingly. Continuously seek feedback from clients, subcontractors and team members to identify areas for improvement and implement changes that enhance your business's performance.

Tips for promoting your construction business

Promoting your construction business effectively is crucial for attracting clients, building your brand and increasing opportunities. Here are six tips to help you promote your construction business successfully:

Make a website : Establish a professional online presence by creating a site using a website builder like Wix . Use your site to showcase your construction services, highlight your portfolio of completed projects and include client testimonials or case studies. Feature your expertise in different types of construction, such as residential, commercial or industrial to attract the right clients. Make it easy for visitors to contact you for inquiries or project consultations.

Utilize social media platforms: Leverage popular social media platforms like LinkedIn, Facebook and Instagram to promote your construction business. Share engaging content, such as project updates, before-and-after photos, construction tips and industry news. Engage with your audience, respond to comments and messages promptly and establish your expertise in the construction industry. Collaborate with complementary businesses, such as architects, interior designers or real estate agents to expand your reach and tap into their networks.

Network with industry professionals: Build relationships with architects, engineers, real estate developers and other professionals in the construction industry. Attend industry events, join networking groups and participate in trade shows or conferences. Establishing connections with industry influencers and potential clients can lead to collaboration opportunities and project referrals.

Showcase your expertise through content marketing: Demonstrate your knowledge and expertise by creating informative and valuable content. Write blog posts, create video tutorials or host webinars that address common construction challenges or provide insights into industry trends. Share this content on your website, social media platforms and professional networks to establish yourself as a trusted authority in the construction industry.

Leverage online reviews and testimonials: Encourage satisfied clients to leave reviews or testimonials on platforms such as Google My Business, Yelp or industry-specific directories. Positive reviews and testimonials provide social proof of your construction business's quality and reliability, influencing potential clients' decisions. Monitor and respond to reviews to show your commitment to customer satisfaction.

Create a distinct brand identity: Utilize Wix's logo maker to unlock your creativity and design a one-of-a-kind logo that truly embodies the essence of your construction services and sets you apart from the competition. This unique logo will be featured across all your digital assets, leaving a lasting impression on your target audience.

Examples of successful construction businesses to inspire you

Promoting your construction business involves multiple elements, from effective marketing and networking to establishing a captivating online presence. Just like these thriving construction companies, you can create an engaging website and connect with your clients online to enhance your brand.

M Construction Services Co. demonstrates its dedication to high-quality services through a visually appealing website. Their site showcases a series of badges verifying its top-rated and elite services, spanning roofing, siding and more.

ANJ Construction LLC has been supporting the construction, property maintenance, real estate and restoration industries since 1975. The company is committed to providing clear and concise communication, as well as maintaining other foundational pillars that set it apart from other players in its industries.

T&A Construction is a family-owned business in Portland, Oregon that's dedicated to providing exceptional and personalized services. T&A works on both residential and commercial projects, offering everything from flooring installation to fencing.

Why start a construction business? Top benefits to consider

Construction is a large industry, accounting for roughly 4.3% of U.S. gross domestic product (GDP) . And, the market size of the U.S. construction industry was valued at $2.8 trillion in 2022. Starting a business in this industry offers plenty of opportunities:

Construction industry growth: The construction field is expected to grow 4% from 2021 to 2031 , resulting in an estimated 252,900 new jobs. As population and urbanization increase, so does the need for residential and commercial spaces, creating a steady stream of construction projects.

Entrepreneurial freedom: Starting a construction business allows you to be your own boss and have control over your work. You can choose the projects you want to work on, set your rates and build a team that aligns with your vision and values.

Creative expression and problem-solving: Construction projects involve creative problem-solving and craftsmanship. As a construction business owner, you have the opportunity to bring architectural designs to life, solve construction challenges and create functional and aesthetically pleasing structures.

Financial potential: The construction industry can be financially rewarding. Successful construction businesses can generate substantial revenue through their services. As your reputation grows, you can command higher rates for your expertise, quality workmanship and efficient project management.

Diverse project opportunities: The construction industry offers a wide range of project opportunities. You can work on residential construction, commercial buildings, infrastructure projects or specialize in a specific niche, such as green building or historic renovations. This allows you to diversify your portfolio and cater to different client needs.

Contribution to the built environment : Construction businesses play a crucial role in shaping the built environment. By delivering quality construction services, you contribute to the development and improvement of communities, creating spaces where people live, work and interact.

Challenges of running a construction business

While starting a business has numerous benefits, it also comes with its own set of challenges:

Intense competition: The construction industry is highly competitive, with many established companies and contractors. Standing out from the competition and securing clients requires a strong reputation, exceptional project management skills and delivering high-quality workmanship.

Licensing and regulations: The construction industry is subject to various licensing and regulatory requirements. Depending on your location, you may need to obtain the necessary licenses, permits and insurance coverage to operate legally. Compliance with safety regulations and building codes is essential to ensure the integrity and safety of your construction projects.

Project management and coordination: Running a successful construction business requires effective project management skills. You need to coordinate multiple subcontractors, manage timelines and budgets, and ensure seamless communication between various stakeholders. Overseeing multiple projects simultaneously can be challenging without proper planning and organizational systems in place.

Seasonal and economic factors: The construction industry can be influenced by seasonal and economic factors. Construction activity may fluctuate depending on the time of year and economic conditions. Adapting to these variations and managing cash flow during slower periods is essential for the financial stability of your business.

How much money should you have to start a construction business?

The amount of money you need to start a construction business will vary depending on the size and scope of your business, as well as the location and type of construction you plan to do. However, you can expect to spend at least a few thousand dollars to get started. Some of the startup costs you may incur include licenses and permits, insurance, equipment and marketing.

What is the most profitable construction business to own?

The most profitable construction business to own will vary depending on a number of factors, including the location of the business, the type of construction the business specializes in and the overall economic climate. However, some of the most profitable construction businesses include:

Specialty contractors: Specialty contractors focus on a specific type of construction, such as electrical, plumbing or HVAC. Specialty contractors can often charge higher rates than general contractors because they have specialized skills and knowledge.

Commercial contractors: Commercial contractors build and renovate commercial buildings, such as offices, retail stores and warehouses. Commercial construction projects can be large and complex, which can lead to higher profits.

Industrial contractors: Industrial contractors build and renovate industrial facilities, such as factories, power plants and refineries. Industrial construction projects are often very large and complex, which can lead to even higher profits than commercial construction projects.

Is construction a good business to start?

Construction can be a good business to start, but it's important to do your research and understand the risks involved. The construction industry is cyclical, which means that profits can fluctuate depending on the overall economy. Additionally, construction projects can be complex and expensive, and there is always the risk of delays and cost overruns.

However, if you are willing to put in the hard work and take on the risks, construction can be a rewarding business. Construction businesses can be very profitable, and there is a high demand for construction services, especially in growing areas.

Other business ideas you might be interested in

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Growing a construction company is much more difficult and taxing than completing projects. 

From acquiring a new project to meeting deadlines, managing the budget, and many more things in between- you will find yourself drowning in responsibilities when you start a construction company.

A construction business plan can come to your rescue in such burdensome situations. If prepared well, it can become a reference point for your company as it continues to grow.

Confused about how to write a business plan?

Well, this article will serve you perfectly. It will help you understand the contents of the business plan and offer a sample template for your construction company.

So let’s build a solid construction company business plan with this detailed guide.

Let’s dive right in.

Key Takeaways

  • Venture into the market by conducting thorough industry and market analysis.
  • Widen the scope of your service offerings to cater varying needs of your target audience.
  • Create a detailed operations plan to get thorough guidance in your business operations.
  • Conduct a SWOT analysis to identify your competitive edge over the competitors.
  • Determine your marketing strategies to launch your business and get it popular amongst your target market.
  • Define your business objectives, goals, and mission values to create a foundation for essential business policies.
  • Account for various project costs, operating costs, and office expenses to form realistic cash-flow projections.

Why do you need a construction company business plan?

Apart from the fact that investors and banks would ask for a business plan when you seek funding, here are a few more reasons you need a business plan.

  • A business plan offers a roadmap to your business. It acts as a guiding block that has answers to all your how, when, where, and what.
  • It helps in determining the exact target market for your business and formulating strategies to cater accordingly.
  • There are millions of construction companies competing in the industry. You can identify your strengths through a business plan and design a competitive edge to stand apart.
  • A well-rounded plan prepares you for emergencies that may arise in your business by making a plan for every situation.
  • A whole lot of business processes repeat every day. A business plan helps bring consistency by establishing SOPs for various business activities.

And of course, you get your desired funding with a solid business plan that vouches for the potential of your construction company.

Key components of a construction business plan

Writing a business plan gets much easier with a structurally defined flow. Well, let’s have a look at key components that a construction company business plan must have.

Executive Summary

A brief summary of an entire business plan that will encourage the readers to read further.

Company Overview

A brief company description including every detail from company structure to its mission statement and future goals.

Market Analysis

A thorough analysis of the construction industry and your target market. It also includes sections for competitor analysis, future market trends, and scope of growth.

Construction Services

Outline the construction services that your company will offer. Highlight any additional services that will make you a distinct player.

Marketing and Sales Strategy

It includes a strategic plan to achieve success through marketing and sales. Determine the best course of action for your business.

Management Team

Introduce key personnel in managerial and leadership roles. Discuss their roles, qualifications, experience, and expertise.

Operations Plan

A detailed plan that streamlines the everyday operations right from construction methods to hiring employees.

Financial Plan

A financial plan highlights the prominent figures and key reports of your construction company by making necessary financial projections.

Let’s dive further into these topics and get a detailed understanding of writing your business plan.

Related Construction Company Resources

  • Construction Company Marketing Plan
  • Key Stats for the Construction Sector
  • Start-up Cost For Construction Company
  • How to Start a Construction Business

A step-by-step guide to creating a construction company business plan

A poorly written plan serves no purpose. However, with this step-by-step guide, you will uncover every detail that goes into making a fantastic and purpose-serving business plan.

1. Get a business plan template

Writing a comprehensive business plan is taxing and time-consuming. But if you do it well, you will have a guidebook for running your construction company.

Now, there is a lot that needs to be considered, planned, and accounted for as you start writing the plan. Even if you closely follow a construction business plan outline, there are higher chances of you losing track or getting stuck at certain sections.

This is why you need a business plan template to give a solid structure to your business idea. With industry-relevant examples and a guide, the Upmetrics business plan template is easy to edit and customize.

Whether you own a general contracting firm or specialize in residential construction or specialty trades- we have plenty of construction-related templates for you to choose from.

Say goodbye to boring templates

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Plans starting from $7/month

construction business planning services

2. Write an executive summary

The executive summary is a concise yet insightful description of your entire business plan.

This one-page document summarizes the most important questions that a reader might have and offers a peek into what they are about to uncover. Investors take a brief glance at your executive summary before deciding whether to proceed further or not.

An executive summary must outline the following details of your construction business in persuasive consecutive paragraphs.

  • The exact business opportunity
  • The target market
  • The problem and the solution to it
  • Products and services offered by you
  • Market size and growth potential
  • Financial highlights
  • Management team

Maintain a personal storytelling tone while writing this section and encapsulate every minute detail that can make a difference.

But wait, don’t start writing yet. Write your executive summary only after you are done writing an entire plan. This will help you summarize effectively.

3. Prepare a company overview section

This section of a business plan will focus entirely on the details of your construction company.

From the type of construction company to the construction company’s goals- everything in this section is about your company description.

To begin with, highlight the type of construction business you will start. For instance, a residential construction company, general contracting company, industrial construction company, or specialty trade construction.

Clarify, if this will be a new business or an extension of existing business. If the business is already operating, offer a brief description of the business history.

After that, highlight the business structure of your construction company. Are you going to be a sole trader or start a limited liability company (LLC) or a limited partnership firm? The business structure you choose will decide how the finances and taxes will work in your business.

Now, this section is your chance to weave magical stories around your construction company. Present the mission statement, company’s objectives, and future goals over here.

For instance,

Mission statement : Syncore aims to become a trusted name for sustainable residential construction projects in Arizona by 2028. With our commitment to the highest quality standards, we will penetrate the market with our premium budgeted solutions.

Business goals :

  • Onboarding and signing 15 construction projects in a span of 6 months.
  • Generating revenue of $2 million by 2025.

Like this, you will write this entire section in parts by offering a brief overview of your construction business.

4. Conduct a competitive and market analysis

In this section of a business plan, you begin with industry analysis and then narrow it down to your particular market segment. This is important to show your potential investors that there are promising opportunities in this market.

Using market research practices determine the target market for your construction business. Create a buyer persona to identify what your ideal customer will look like.

Further, highlight your competitors in this competitive construction industry. Using SWOT analysis and PESTEL, determine the strengths and weaknesses of competing construction companies. In this section, you will also highlight your strengths to gain a competitive edge over existing players.

Don’t limit your market study to merely understanding the current scenarios. Extend the research and identify future trends and growth possibilities in your targeted market.

If you are a residential construction company focused on sustainable building practices, you must include the following details in your market analysis section.

  • How large is the construction industry?
  • What segment of the construction market will you capture?
  • Who will avail of the construction services?
  • What is the spending capacity of your target customers?
  • Who are the top competing construction companies?
  • What are the emerging trends in the industry and how will you leverage those?
  • What is the growth potential of your target market?

Focus on quality market research as this will form the base of your further projections and strategies.

industry analysis construction company business plan

This screenshot of the construction business plan example highlights only the market size for HDFL construction. You can also include details like competitors analysis, growth potential, and market trends here.

5. Describe your construction service offerings

What construction services will you offer your potential clients?

Offer a detailed answer to this question, as you write a business plan section for service offerings.

Overall, this section should highlight every service offering that will bring you money. This could include services like,

  • General contracting services
  • Design and Engineering
  • Construction
  • Renovation and remodeling
  • Project management
  • Specialty services i.e. concrete work, HVAC installation, Roofing services
  • Maintenance and repairs

Offer a brief understanding of these service offerings and highlight construction jobs you will specialize in. For instance, remodeling of kitchen and bathroom.

Now, will your construction company sell any construction materials for profit? If so, include details for that as well.

It’s important to consider the breadth of your service offerings to keep the customers coming back.

Overall, this section is your chance to prove to potential investors that your services can stand solid in the competitive construction industry.

6. Propose marketing and sales strategies

According to the IBIS world report , there are more than 3,787,470 construction businesses in the USA. Starting a construction company will add one more to this list, but hey- How do you wish to make a brand that your target audience can recall easily?

All the market assessment and understanding of your potential clients will come in handy at this stage as you make your marketing plan and sales strategies.

Take an opportunity to lay out your sales plan in this section. If you have existing customers, explain how you plan to retain them.

After you are done making your sales strategies, touch the marketing aspect.

Firstly, identify the way you want your brand to be recognized- as an ordinary construction firm, a luxury construction company, a sustainable solutions firm, or an affordable construction company. This will help you make a marketing plan.

Your marketing strategy should answer the following questions:

  • Which marketing channels will you use-  Online, offline, or a mix of both?
  • How will you generate more leads?
  • Online marketing methods- search engines, social media, Email marketing, content marketing, etc.
  • If you are going to be utilizing social media platforms- which ones?
  • How much will you budget for paid ads?
  • Will you use billboards, pamphlets, and newspaper advertisements to market your business?

Keep in mind the marketing channels where you can find your potential customers. For instance, you are more likely to find conversions through Email campaigns than social media campaigns, if you are finding clients for commercial construction.

All in all, in this section you have to draw potential investors’ attention with your sales and marketing strategy.

7. Introduce your management team

Everyone is aware of the cutthroat competition in the construction industry. Knowing that you need an able team to transform your business plan into a successful venture.

After laying out your marketing strategy, it’s time to introduce the key management and leadership team to your business plan.

It’s okay to brag about the talented individuals you have in your company. From construction heads to project managers, highlight the achievements, experience, and expertise of these people and prove their asset-worthiness for your company.

Also, draw the hierarchical map to give potential investors an idea of your organizational structure.

This is your time to prove that you have both the means and manpower to run a successful company.

8. Outline your operational plan

You may know construction, but do you know how to run a construction business?

As someone said, “ Seamless operations are the silent engine of extraordinary business achievements”

Before even taking the first project, it’s important to define operations and SOPs for different business activities. Make it so thorough that it can act as a guidebook whenever a problem arises in your construction company.

As you write a business plan for this section, focus on answering the following questions:

  • What construction materials will you use?
  • What will be the supply chain process in your construction company?
  • Who will oversee the project management on site?
  • What will be the timeline for completing projects?
  • What will be health and safety protocols for construction workers?
  • What will be the process of construction work?
  • How will the communication flow within an organization?
  • What technologies and equipment will you use?
  • How will you ensure quality work?
  • How will you hire employees?
  • What accounting software will you use?

This is just a general gist of questions that can help you prepare this section. Consider it as a living document that will undergo various changes as the business commences and grows.

A thorough operations plan will lay a clear groundwork for running a company. Moreover, it will instill investors’ faith in your ability to run a construction company.

9. Create a financial plan

Writing a sound financial plan is a challenge but nothing that your determined mind can’t handle.

Whether you plan to raise funds or get bank loans, you need a sound financial plan. Investors will analyze this section and only if they find your business financially viable, will they invest.

In this section, you will make financial projections and estimates for your construction company. This includes forecasting sales, estimating startup costs , projecting overhead costs, and making a pricing plan.

Using the startup costs projection, determine how much funding is essential to start your own construction company.

Also, prepare different reports like income statements, cash flow statements, balance sheets, and break-even analyses using the projections made earlier.

To make a financial plan more relevant, consider various progressive and aggressive situations.

Lastly, prepare graphs, charts, and diagrams to make this section visually appealing and easy to grasp.

Now, stop. Don’t start writing a financial plan yet. You need a financial forecasting tool from Upmetrics to help you with projections and calculations of cash flow, sales, revenue, and everything else. Simply enter the data and it will make detailed and precise calculations for you.

Trust us, you don’t want to scratch your heads writing the entire plan from ground level.

And that’s it! With all this information you pretty much know everything that a construction business plan must have.

Construction Industry Highlights 2023

Now that you are almost set to open a construction company, here are a few industry statistics that might interest you.

  • Market size : The US construction market sector was valued at 1.8 trillion US dollars in 2022.
  • Growth of the virtual construction market : The global BIM market is 7.9 billion US dollars . North America is projected to be a market leader capturing 30% of this market.
  • Rise in prefabrication and modular construction : Healthcare facilities followed by hotels/motels and educational institutions are most likely to avail of modular construction facilities.
  • Major concerns : The leading concerns encircling the construction industry are inflation and supply chain disruptions faced by nearly 90% of constructors.
  • Sustainable and green building : There is a continuous increase in demand for sustainable and green building solutions. As for 2021, the green building market in the USA was reported to be approximately 83 billion dollars .
  • Growing investment in smart cities : According to IDC, the investment in smart cities is expected to grow to 203 billion dollars by 2024.

From sustainability to tech-centric processes, the construction industry is making huge shifts in trends. Both, small businesses and large have to evolve according to changing times to keep themselves relevant.

Download a sample construction business plan

Facing difficulty writing a business plan? Well, we have a perfect resource for you.

Download the Upmetrics sample business plan template. Our template offers step-by-step instructions and prompts to ease the entire plan writing process. It’s designed to meet modern market needs and is perfectly detailed with construction-relevant examples.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

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A lot of us struggle when it comes to translating our ideas into a solid business plan. But not with Upmetrics.

Upmetrics is an intuitively designed business planning app with more than 400+ sample business plans . Our business planning tool features AI assistance that will transform your business writing process. Not only that, it allows you to design, collaborate, and share your business plan in real-time with your team.

So what are you waiting for?

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Frequently asked questions, what kind of market research should i include in my construction business plan.

The market research for your construction business plan must include the following details:

  • The market size of your targeted market, i.e. commercial construction, residential construction, etc.
  • The target audience of your services and their buyers’ persona
  • Top competing firms and companies offering similar services
  • Emerging trends in your market
  • Growth potential for your firm

Is a SWOT analysis necessary for a construction company business plan?

Absolutely yes. There are more than a billion construction companies in the USA itself. Starting another business won’t guarantee success unless you have a business that can withstand the dynamic competitive environment. SWOT analysis will make you aware of the company’s strengths, weaknesses, and the opportunities it can avail

What are the initial startup costs for a construction company?

It is possible to start a construction company with as little as $10,000. However, if you plan to set up a mid-sized construction company, expect to spend anywhere around $50,000-$250,000 on getting a basic setup. This includes accounting for licenses, insurance, office setup, construction materials, and payroll for the initial months.

Can I get government grants for a construction business?

Yes, you can apply for government grants to start your construction business. Check the local, federal, and state regulations to see which grants are applicable to your business. Check the eligibility and apply accordingly.

How often should I update my construction business plan?

A business plan is a living document that can guide you toward success if mapped properly. Ideally, you should update your business plan every 4-6 months to make it relevant. Set aside time to do so as a renewed plan will offer deep and meaningful insight into your business goals.

About the Author

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Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to Write a Business Plan for a Construction Contractor?

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  • September 14, 2022
  • Small Businesses

construction business planning services

Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) for your construction contractor company, you will need to prepare a solid business plan.

In this article we go through, step-by-step, all the different sections you need in the business plan of your construction contractor business. Use this template to create a complete, clear and solid business plan that get you funded.

1. Construction Business Executive Summary

The executive summary of a business plan gives a sneak peek of the information about your business plan to lenders and/or investors.

If the information you provide here is not concise, informative, and scannable, potential lenders and investors will lose interest.

Though the executive summary is the first and the most important section, it should normally be the last section you write because it will have the summary of different sections included in the entire plan.

Why do you need a business plan for a construction business?

The purpose of a business plan is to secure funding through one of the following channels:

  • Obtain bank financing or secure a loan from other lenders (such as a SBA loan )
  • Obtain private investments from investment funds, angel investors, etc.
  • Obtain a public or a private grant

How to write an executive summary for a construction business?

Provide a precise and high-level summary of every section that you have included in the business plan of your construction business. The information and the data you include in this segment should grab the attention of potential investors and lenders immediately.

Also make sure that the executive summary doesn’t exceed 2 pages in total: it’s supposed to be a summary for investors and lenders who don’t have time to scroll through 40-50 pages, so keep it short and brief.

The executive summary usually consists of 5 major sub-sections:

  • Business overview : start by introducing your proposed construction firm, where it will be located, the types of construction services you will offer, and the pricing strategy you want to implement. Also mention what sets you apart from other construction contractors in the area
  • Market analysis : summarise the market where you will operate and provide a brief about your target market, target audience, spending capability, etc. Also give certain data points about the construction industry in the area where you want to operate (size and growth), as well as an overview of the main competitors, etc
  • People : introduce your construction business’ management and employee structure. Provide a brief (no more than a couple of sentences each) of the knowledge and experience of the team. Also, mention how the company will be structured (management roles and reporting lines)
  • Financial plan: how much profit and revenue do you expect in the next 5 years? When will you reach the break-even point and start making profits? You can include here a chart with your key financials (revenue, gross profit, net profit )
  • Funding ask : what loan/investment/grant are you seeking? How much do you need? How long will this last?

construction business planning services

2. Construction Contractor Business Overview

In this segment of the business plan, you will provide details about your proposed construction firm.

You must answer here some important questions that potential investors and lenders often ask about your business and operations. Here are some examples of questions you must answer:

  • What is the rationale behind your opening a construction business today?
  • In which location will you operate and why?
  • What type of services will you offer?
  • Are there specific types of services that you specialize in?
  • What will be your pricing strategy and why?
  • What will be the legal structure of your company?

a) History of the Project

Any business overview must start with explaining the history of the project. There are 2 components here:

  • Passion & experience of the business owner
  • Rationale behind starting a construction business today

Passion & experience

Displaying your passion is a must, but in the construction business, you must have ample experience, too. You must reveal your experience. For instance, you may have worked as a subcontractor responsible for designing beautiful buildings for large construction companies. At the same time, you were also responsible for overlooking and managing the design execution.

Is there a certain problem (or perhaps, a set of problems) that your construction firm will try to solve when it comes into existence? For example, there may be a steady rise in demand for state-of-the-art and elegant commercial buildings because of an increasing influx of international companies.

Unfortunately, there may be only a few construction companies capable of executing such projects with precision, and you want to fill in the gap.

construction business planning services

b) Business Model

This section of the Business Overview should explain the model you want to adopt for your construction business. For example:

  • Who will be your target audience (homeowners, commercial entities, government, etc.)?
  • How big is the market and is there enough demand for your services?
  • What type of services are you going to offer?

What are the different construction contractor companies?

You may choose one of the following:

  • Commercial construction
  • Residential construction
  • Institutional construction
  • Infrastructure construction
  • Industrial construction
  • Energy & utilities construction

Typically, construction businesses do not operate in multiple niches at once, and even if they do, they are usually large corporations. Thus, make sure to select your niche properly after evaluating your expertise and experience.

No matter what you select, you must ensure that there is enough demand for the type of construction firm you want to open and the range of services you will offer.

c) Construction Services

This is the segment where you will outline the type of construction services you will offer. Make sure that you are precise and list the most important services that you want to offer to potential clients.

Some services that you may offer include:

  • Residential home building
  • Repairs and renovations
  • Commercial building
  • Deck building, etc.

If you want to start as a subcontractor, you may offer your services in areas like:

  • Exterior painting
  • Tile work, etc.

construction business planning services

d) Pricing Strategy

This is where you will provide an overview of your pricing strategy. For instance, you may charge higher than your competitors because exceptional craftsmanship, high-quality materials, etc.

Similarly, you may decide to charge lower than your competitors because you have years of relationship with suppliers who will supply raw materials at say, a 15% discount over the prevailing market rates.

Pricing table

While it may not be possible to provide a proper pricing table for all services that you will offer, it is still a great idea to provide a table that gives an overview of your pricing structure.

Consider providing a pricing range for your services. For example:

  • Flooring : $15 to $45 per square foot depending on the material used
  • Drywall Installation : $1.50 to $3.50 per square foot, etc.

However, don’t go into extreme details because potential investors are not interested in the nitty-gritty of your pricing. They just need the big picture to assess the profitability, because they will tie your pricing strategy with your financial projections later on.

construction business planning services

e) Company Legal Structure

Finally, your business overview section should specify what type of business structure you want. Is this a corporation or a partnership (LLC)? Who are the investors? How much equity percentage do they own? Is there a Board of Directors? If so, whom? Do they have experience in the industry?

3. Construction Industry Market Overview

A complete understanding of the market where you want to operate is important for the success of your business. That’s also something you must showcase in your business plan.

For example, if there is a high demand for residential and commercial construction companies but you want to focus on industrial construction despite a very small market size, it may not be a great business decision.

Therefore, you must cover here 3 important areas:

  • Industry size & growth : how big is the construction business industry in your area? What is its growth rate (or decline rate) and what are the factors contributing to its growth or decline?
  • Competition overview : how many competitors are there? What type of customers do they serve? What type of projects do they specialize in? How do they compare vs. your business? How can you differentiate yourself from them?
  • Customer analysis : who is your target audience? What type of construction services do they need? 

a) Construction Industry Size & Growth

How big is the construction contractor industry in the us.

The construction industry is one of the largest sectors in the US: there were over 733,000 construction contracting firms in 2022 employing about 7.5 million workers!

The same year, the industry was worth about $1.9 trillion: that’s an average annual turnover of $2,600,000 per company!

In terms of new residential constructions, there were 991,000 and 390,000 building permits granted in 2020 alone for single and multi-family buildings respectively.

construction business planning services

How big is the construction contractor industry in your area?

After getting a clear picture of the construction business industry in the US as a whole, narrow down to your location.

It’s likely that you won’t find the number anywhere (at least not for free). In that case, you can use our guide to estimate the TAM, SAM, and SOM for your business. Here is an example of how to do it:

We already know that the average annual turnover of a construction firm in the USA in 2022 was $2,600,000. Therefore, if the location where you will operate has a total of 20 construction companies, the construction business industry in the area is approximately $52 million.

construction business planning services

How fast is the construction business industry growing in your area?

Next on our list is market growth: is the industry growing or declining in your area?

US market growth can be a great addition to your business plan, yet it doesn’t necessarily help to assess the industry in your area of service. For example, the industry might be growing in the US, but declining in your region for a number of reasons.

As you likely won’t find this information online, you can instead rely on the number of construction contractor companies in the area.

For example, if the region had only 18 construction businesses in 2018 and 20 in 2022, you can assume that the average growth rate of the construction contractor industry in your area is about 5% per year.

b) Construction Contractor Competition Overview

Studying your competitors’ business models is vital. As such, we strongly recommend you do some research and create a comparative table summarizing their businesses, the type of construction services they offer, etc.

Here is a sample table that you can use:

Construction Business SWOT Analysis

SWOT stands for Strength, Weakness, Opportunities, and Threats. This analysis will help lenders and investors better understand how you compare vs. competitors as well as the overall risk and reward profile of your business.

Here is a sample that you can use as a reference:

  • Strengths : 10 years of experience as a subcontractor under a nationally reputed construction company; multiple successful construction designs under the belt with the most prominent ones being the commercial green building with 40% glass work for deep sunlight penetration and solar energy utilization; ability to acquire discounted construction material; etc.
  • Weaknesses : no direct clients, no initial brand reputation
  • Increased demand for residential buildings because of the increasing population in the area
  • Increased demand for commercial construction because of increased business opportunities
  • Harsh weather conditions force homeowners to repair their homes
  • Existing players expanding their services
  • Strong seasonality – contracts and products drop significantly during the winter months which can lead to cash flow shortfall in the short-term

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c) Customer Analysis

This is the sub-section where you will provide a detailed analysis of your target audience. For instance, you may want to start with residential construction, but soon want to expand your operations into commercial construction.

Some important points that you must include in your customer analysis include:

  • Who are your customers: individuals or businesses?
  • What type of construction services do they need (new vs. remodeling)?
  • What type of construction companies do they prefer (expensive, low-cost, established, new players, etc.)?

4. Sales & Marketing Strategy

This is the segment where you outline your customer acquisition strategy. Try to answer the following questions:

What is your Unique Selling Proposition (USP)?

  • What are the different marketing strategies you will use?
  • How do you intend to track the success of your marketing strategy?
  • What is your CAC or customer acquisition cost?
  • What is your marketing budget?
  • What introductory promos and offers do you intend to provide for attracting new customers?

What marketing channels do construction businesses use?

A few marketing channels that construction businesses typically use are:

  • Signages, vehicle branding
  • TV and radio ads
  • Print ads (newspapers, specialized magazines, flyers, etc.)
  • Email marketing
  • Word of mouth, recommendations

It is not necessary to use all channels. Instead, you can start by focusing on a few of them, and include other marketing strategies later.

construction business planning services

In other words, how do you differentiate yourself vs. competitors? This is very important as you might need to win customers from competitors.

A few examples of USPs are:

  • Low-cost leader : you may have a special partnership with a large construction material supplier that can allow you to underbid your competitors, thereby allowing you to offer low-cost construction services 
  • Time commitment : you may have excellent project management skill that allows you to complete constructions projects within the estimated time, and hence, prevent unwanted delays and frustrations that eventually lead to increased construction cost
  • Quality guarantee : you may offer a quality guarantee for a long duration that none of your competitors provide

5. Management & People

You must address two things here:

  • The management team and their experience / track record
  • The organizational structure : different team members and who reports to whom?

Small businesses often fail because of managerial weaknesses. Thus, having a strong management team is vital. Highlight the experience and education of senior managers that you intend to hire to oversee your construction business.

Describe their duties, responsibilities, and roles. Also, highlight their previous experience and explain how they succeeded in their previous roles.

It is also important that you explain how their experiences and qualifications help you in implementing the construction business you are proposing. If they have certain experiences that will play a key role in the success of your construction business, mention that. 

For example, your General Project Manager may have years of experience in labor relations, cost control, and project supervision in a leading construction company. 

Organization Structure

Even if you haven’t already hired a general project manager, office manager, administrative assistant, quality control officer, architect, and other relevant staff members, you must provide a chart of the organizational structure defining hierarchy and reporting lines.

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6. Financial Plan

The financial plan is perhaps, with the executive summary, the most important section of any business plan for a construction contractor company.

Indeed, a solid financial plan tells lenders that your business is viable and can repay the loan you need from them. If you’re looking to raise equity from private investors, a solid financial plan will prove them your construction contractor company is an attractive investment.

There should be 2 sections to your financial plan section:

  • The startup costs of your company
  • The 5-year financial projections

a) Startup Costs

Before we expand on 5-year financial projections in the following section, it’s always best practice to start with listing the startup costs of your project.

For an construction contractor company, startup costs are all the expenses you incur before you start making sales. These expenses typically are limited especially for small businesses and include:

  • The lease deposit (if you rent an office and/or warehouse for your equipment)
  • Machines, vehicles
  • Construction equipment, tools, etc.
  • License & permits, business insurance, etc.

Of course, the startup costs depend on a number of factors, like the size of your business (employees), the services you plan to offer (which will dictate what equipment you may need), etc.

b) Financial Projections

In addition to startup costs, you will also need to build a solid 5-year financial model in the business plan of your construction company.

Note that your financial projections should be built using a spreadsheet (e.g. Excel or Google Sheets) and presented in the form of tables and charts in your business plan.

As usual, keep it concise here and save details (for example detailed financial statements, financial metrics, key assumptions used for the projections) for the appendix instead.

Your financial projections should answer at least the following questions:

  • How much revenue do you expect to generate over the next 5 years?
  • When do you expect to break even?
  • How much cash will you burn until you get there?
  • What’s the impact of a change in pricing (say 10%) on your margins?
  • What is your average customer acquisition cost?

You should include here your 3 financial statements (income statement, balance sheet and cash flow statement). This means you must forecast:

  • The number of contracts (customers) over time ;
  • Your expected revenue ;
  • Operating costs to run the business ;
  • Capex (cost to buy the equipment and vehicles, etc.)

When projecting your financials, make sure to sensitize sales volume (customers), pricing as well as the expenses (inventory, salaries, etc.). Indeed, a small change in these assumptions may have a significant impact on your revenues, and most importantly, your profits.

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7. Use of Funds

This is the last section of the business plan of your construction contractor company. Now that we have explained what your business model is, what type of services you offer, how you get customers, etc., this section must now answer the following questions:

  • How much funding do you need?
  • What financial instrument(s) do you need: is this equity or debt, or even a free-money public grant?
  • How long will this funding last?
  • Where else does the money come from? If you apply for a SBA loan for example, where does the other part of the investment come from (your own capital, private investors?)

If you raise debt:

  • What percentage of the total funding the loan represents?
  • What is the corresponding Debt Service Coverage Ratio ?

If you raise equity

  • What percentage ownership are you selling as part of this funding round?
  • What is the corresponding valuation of your business?

Use of Funds

Any business plan for a construction contractor company should include a clear use of funds section. This is where you explain how the money will be spent.

Will you spend most of the loan / investment in paying your employees’ salaries and the COGS (inventory)? Or will it cover mostly the cost for acquiring the equipment and machines?

For the use of funds, we also recommend using a pie chart like the one we have in our financial model template where we outline the main expenses categories as shown below.

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Best construction business to start.

Best construction business to start

The construction industry is one of the top industries for startups, but it has a high failure rate. For example, 63.6% of construction businesses collapse within five years, and even more fail within the first two years. 

While contractors are generally great at constructing, most need to gain the know-how to run a successful business. Many contractors are experts but must learn how to win projects and get more leads. 

There are multiple reasons why construction startups fail, including poor planning and lack of funding. Therefore, it is essential to research your market and create a solid business plan before venturing into construction. Below are some of the best construction businesses to start. 

Table of Contents

Types of construction businesses

There are five main types of construction businesses: residential construction, commercial construction, industrial construction, infrastructure construction, and specialized construction. 

Residential construction 

Residential construction involves building, repairing, and remodeling structures to house people, supplies, and equipment. For example, residential construction produces townhomes, apartments, condos, dormitories, nursing homes, garages, and utility sheds. The installation and repair of utilities such as electricity and water around residential buildings also fall under residential construction. 

Tiny single-family residential houses are typically designed and built by builders. However, larger residential housing projects may require architects, interior designers, and a construction company. 

Commercial Construction

Commercial construction, like residential construction, involves building new structures and repairing and maintaining existing structures. However, commercial construction produces larger structures for public use, such as skyscrapers, sports arenas, hospitals, project schools, retail stores, shopping centers, stadiums, and hospitals. 

Commercial construction may be commissioned by private owners and companies or local and national governments. 

Industrial construction

Industrial construction requires high specialization and technical planning, design, and construction skills. This type of construction typically produces industrial structures such as warehouses, factories, and hydroelectric and nuclear power plants. Industrial corporations or large for-profit firms generally commission industrial buildings. 

Industrial construction also includes designing, installing, and maintaining mechanical components for industrial structures and buildings. Industrial construction focuses on functionality rather than style, as these buildings must meet specific industry standards. For example, industrial buildings typically have special conveyance requirements to support manufacturing functions and floor plans allowing smooth foot traffic. 

Specialized construction

This type of construction requires highly technical expertise or new technology that a limited pool of specialized contractors can only provide. Specialized construction projects include elevators, silos, hoppers, and tanks. 

Infrastructure construction

The fourth type of construction is infrastructure construction. Infrastructure construction is commissioned by government agencies or large private corporations due to public interest. 

Examples of structures produced by infrastructure construction include roads, railways, communication systems, bridges, transit systems, highways, pipelines, drainage systems, and tunnels.

Factors to Consider Before Starting a Construction Business:

Construction is a unique business niche and very profitable if done correctly. Below are some factors you need to consider before starting a construction business.

Market research

Market research

Find out if a construction business is a viable option in your market. If the market is saturated and customers are happy with existing companies. 

Conduct market research to determine the number of construction companies in the area, their specialty, pricing, and reputation. In addition, try to understand your potential customer base, including their demographics and interests. The above information will be valuable when developing a business plan. 

You can start market research with the US Small Business Administration (SBA), which offers free complex data on business markets and customers. For example, using SBA, you can learn about your audience’s demographics, spending habits, and employment status. You will also get market production and sales data. 

For more specific information, take a look at local industry publications. Local industry publications are available online via Google. Typing the name of your city + “construction industry publications” will generate direct the relevant magazines. You can either comb through their digital issues or subscribe. 

Consider collecting feedback from your potential customer base directly. You can use questionnaires and surveys, individual interviews, or focus groups. Some approaches are more time-consuming and costly than others, so figure out what you need to ask before starting the process. 

Ask how often they hire contractors, their biggest challenges, and the main factors they consider when hiring a contractor. 

Business plan

Your new business needs the plan to guide you from your starting point to where you want to be as a construction business. Your business plan should outline your target market, services, business structure, number of employees, marketing plans, the initial estimated cost of starting the business, expected returns, KPIs, and accounting processes. 

Target Audience

Determine who your target audience is and learn more about them. Collect data about your audience’s demographics, spending habits, income, and interests. Understanding your audience will help you know how to market to them.

Budget and funding

What will be the initial cost of starting your business? Create a budget and secure funding for your business. If possible, use credit and not your savings. The construction industry relies heavily on cash flow, so you will need to remain liquid in case of any emergencies. 

Only start a business once you have enough money to fund it. Several ways to secure funding include bank loans, credit unions, private lenders, government loans, and government funding programs. You can find suitable loans and grants on USA.gov .

Apart from the initial costs of setting up your business, ensure you have enough funding for future projects. Construction has low-profit margins and irregular billing cycles, requiring constant cash flows. 

Most projects cost money to start, and paying for these out of pocket can land you in trouble if the client cannot or does not pay you. Instead, insist on upfront payment for projects and charge clients whenever costs arise. This drawback policy allows you to maintain an emergency fund in case of payment delays. 

Legal Requirements

Before registering your business, consider the local and federal legal requirements of setting up a business like yours. The state, location, size, and type of your business will determine the licenses and permits you need. In addition, special permits are required for specific business practices like mining, drilling, and transportation of heavy vehicles. You can check the requirements on the SBA’s federal licenses and permits page.

Check local zoning ordinances for a state license and permit requirements to ensure your chosen location is viable. If your site is feasible, check the state’s website or visit your local courthouse for license and permit requirements. The correct licenses and permits will keep you away from heavy fees and tax penalties, and possible closure. 

Steps to start a construction business

  • Identify your niche - you will likely appeal more to potential customers with a very targeted niche business. For example, carve out a niche for your construction business to improve your chances of success. 
  • Choose a business structure - you can register your business as a sole proprietorship, partnership, LLC, or corporation. Most construction business owners choose the LLC  business structure to shield them from debts and liabilities. 
  • Register your business - register your business to make it a legal entity. Business registration ensures personal liability protection as well as tax and legal benefits. Once you have registered your business name with the local and state governments, you can acquire an Employer Identification Number (EIN) or a Federal tax ID . A federal tax ID allows you to trademark your logo and business name. 
  • Obtain necessary licenses and permits - once your business is registered, obtain the required state and federal permits to enjoy legal and tax benefits. 
  • Establish a brand and marketing strateg y - establish your brand (name, logo, colors, and way of doing business) and develop a plan to market your new business. 

Challenges faced by construction businesses

Challenges faced by construction businesses

Construction businesses face harsh challenges, especially during inception. Some of the challenges are:

Competition 

Construction is a harsh industry with stiff competition from large, established businesses. Unfortunately, this level of competition acts as an entry barrier for small businesses, and most new companies fail within the first 2-5 years. 

Economic factors

Economic factors such as cost overruns, cashflow issues, high insurance premiums, and increasing prices of raw materials make it difficult for construction businesses to make profits. 

90% of construction projects experience at least 30% cost overruns due to poor planning and cost estimations, payment delays, or design changes. Cost overruns lower profit margins, shortages, and a blow to the company’s reputation. 

Cash flow issues also cause construction challenges. Construction businesses require steady cash flow to run. Projects will be completed on time if employees, vendors, suppliers, and subcontractors are paid on time. 

High insurance premiums are another economic challenge for construction businesses. High premiums cripple small construction businesses. 

Finally, the rising cost of raw materials and construction land has increased the overall cost of doing construction business. Due to this price volatility, many small construction businesses need help to make decent profits. 

Safety regulations

Safety is a significant issue problem in the construction industry. The construction industry records more deaths than any other industry in the US. This problem has persisted for years, and it is time for businesses to prioritize the safety of workers. 

The average time an injured or ill worker requires from work is ten days. In 2016, there were 82,760 construction accidents, 26,010 of which required at least 31 days away from work. This means that at least one-third of accidents and injuries result in employees requiring time off. Time spent away from work translates to reduced productivity for the business. 

Regular training is critical to keep workers safe. There can always be a little safety training. However, safe work practices must be enforced. Companies with robust safety programs are more efficient. 

Labor shortage

The skilled labor shortage is one of the most significant challenges in construction. The labor shortage has been an issue since before the Great Recession in 2008 when many construction workers were permanently laid off or left the industry. 

Older construction workers are retiring faster than they can be replaced, as the younger generation seems uninterested in construction. Over the last decade, there has been an 8% decline in construction workers aged 25-54. 

The recent pandemic further exacerbated the labor shortage as millions of construction workers lost jobs, and some left the industry. Since construction relies heavily on skilled manual labor, these shortages significantly affect businesses. 

Technology disruptions

Technology has disrupted many industries, and construction is no exception. However, the traditional brick-and-mortar industry is notorious for the slow adoption of new technology. As a result, construction companies that cannot adapt fast are at risk of extinction.

Available technology includes estimating technology, cloud-based software, IoT, mobile wearable devices, BIM, and telematics. While these technologies can improve efficiency and productivity, they are too costly for smaller businesses that use traditional methods. 

Technology is fast becoming a critical part of the construction, and some companies are riding that wave early. Companies incorporating new technologies into their project workflows create a sustainable competitive advantage. However, the majority are hesitant and, therefore, less efficient.

Tips for running a successful construction business

  • Hiring and managing employees - focus on attracting and retaining high-quality talent. Building a reliable, experienced team is a good investment for a new construction business. Remember, your team is the foundation of your company.
  • Building a solid network - establish meaningful relationships with customers, suppliers, vendors, subcontractors, and workers to benefit from word of mouth and referrals.
  • Embracing technology - adopt relevant new technology as it emerges to reduce reliance on outdated manual systems and improve operational efficiency.
  • Quality control and customer satisfaction - maintain a high quality of services and collect regular feedback from customers to ensure they are satisfied. Set customer expectations early and deliver on all your promises. 
  • Continuous learning and improvement - stay up-to-date with market trends to ensure you deliver the best services possible. 

Conclusion 

The construction industry has numerous opportunities for prospective business owners. However, conducting market research and determining your specialty is essential before venturing into the industry. Consider important factors such as market research, business plan, target audience, budget and funding, and legal requirements before launching your new construction business. Anticipate challenges even as you begin your new venture. 

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Construction Company Business Plan

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The objectives and tactics of a construction company are described in a business plan for a construction company. For the creation of your business plan, use this Construction Company Business Plan Template.

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Created by:

​ [Sender.FirstName] [Sender.LastName] ​

​ [Sender.Company] ​

INTRODUCTION

This business plan is for a construction company that will offer a wide range of services to residential, commercial, and industrial clients. The company will be owned and operated by [Sender.FirstName] [Sender.LastName] , who has (insert number) years of experience in the construction industry.

COMPANY DESCRIPTION

​ [Sender.Company] will be located in [Sender.City] , [Sender.State] and will serve the surrounding area. The company will be registered as a(n) (LLC/Corporation) and will have (insert number) employees at the start, including the owner. The company will offer a range of services, including new construction, renovations, and repairs for residential, commercial, and industrial clients. The company will also offer project management and design services.

MARKET ANALYSIS

The construction industry is expected to grow at a rate of (percentage) over the next five years. The demand for construction services is driven by population growth, economic development, and the need to update and improve existing buildings. [Sender.Company] will target residential, commercial, and industrial clients in the [Sender.City] area, focusing on high-quality workmanship and customer satisfaction.

MARKETING STRATEGY

​ [Sender.Company] will use a combination of traditional and digital marketing techniques to reach potential clients. This will include advertising in local newspapers and industry publications, as well as utilizing social media platforms and email marketing to promote services and specials. The company will also rely on word-of-mouth referrals from satisfied customers.

​ [Sender.Company] will have a team of skilled contractors and tradespeople who will be responsible for completing projects promptly and professionally. The company will have a project manager who will oversee all projects and ensure that they are completed to the highest standards. The company will maintain a well-stocked warehouse with a variety of construction materials and equipment to ensure that projects can be completed efficiently.

FINANCIAL PLAN

​ [Sender.Company] will generate revenue through the sale of construction services to residential, commercial, and industrial clients. The company will also generate revenue through the sale of construction materials and equipment. The company will have operating expenses, including payroll, rent, utilities, and insurance. The company expects to generate (Amount) in revenue in the first year, with a projected growth rate of (Percentage) per year.

​ [Sender.Company] is well-positioned to take advantage of the growing demand for construction services in the [Sender.City] area. With a team of experienced contractors, a focus on high-quality workmanship, and a commitment to customer satisfaction, the company is confident that it will be successful in the competitive construction market.

​ [Client.FirstName] [Client.LastName] ​

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Building Construction Business Plan

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Concrete Installation

The Concrete Installation system can be adapted to almost any construction requirement that calls for forming. The company’s expert staff has the capability to design and manufacture any custom component or accessory item that may be required to complete the formwork package.

Owners, developers, construction managers, general contractors, and concrete subcontractors have realized substantial savings in labor and material costs by using structural contours construction methods, systems and equipment. Applications include commercial and residential structures, bridges, educational projects, recreational projects, civil projects, tunnels, utility projects, environmental projects, and virtually every other type of concrete construction.

Concrete Installation’s formworks will offer major advances, complete adaptability, and high strength-to-weight ratio, and all at cost effective prices. Assembly will be quick and easy. During form use, maintenance will be minimal. Concrete Installation will recommend, as a safety precaution, occasional inspection for bolts and nuts that may have loosened from handling.

The required formwork drawings that Concrete Installation will furnish to the contractor eliminate all guesswork. The company will specify the order of assembly and erection including the location of the strongbacks and joists, the location and actual loading of the form ties, location of all accessories and advise clients of the maximum allowable rate of concrete placement.

Accident prevention is the cornerstone of Concrete Installation’s safety commitment. The company will strive to eliminate foreseeable hazards which could result in personal injury or illness; at Concrete Installation, health and safety will not be compromised. Concrete Installation will sell its services clients in the area of commercial construction.

3.1 Applications

The following applications are uses for Concrete Installation’s services.

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The Capital Improvement Program (CIP) budget is a six-year financial plan for the acquisition, development, construction, addition, and/or renovation of public facilities, infrastructure, and capital equipment.

For Loudoun County Public Schools, a CIP budget is prepared by the Superintendent in the fall of each year.  The recommended capital budget is presented to the School Board for review and action.  Following School Board adoption, the capital budget is forwarded to the County Administrator for inclusion in the County's Proposed Fiscal Plan.  The Board of Supervisors adopts an annual Fiscal Plan each spring.  Authority to spend public funds for identified capital projects is held by the Board of Supervisors and authorized as a part of the annual Fiscal Plan. 

Details on specific, active LCPS construction projects can be found on the LCPS Division of Construction Services webpage .

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  • Due to a lack of a quorum, the December 5 public hearing and work session has been canceled.  The capital budgets public hearing has been rescheduled for Tuesday, December 12, during the regularly School Board meeting.    
  • Advance speaker sign-up will be available for the December 12 capital budgets public hearing.  Walk-up registration for persons who wish to speak at the hearing will also be accepted on December 12, between 3:00 p.m. and 3:30 p.m. at the LCPS Administration Building (near the entrance to the School Board Meeting Room).  Persons registering on-site will be added to the end of the list of pre-registered speakers.    

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Diageo wins planning permission for new €200m brewery in Co Kildare

Company says construction of brewery in littleconnell will begin in early 2024, following withdrawal of appeal that stalled the project.

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The facility will brew most of Diageo's lagers and ales including Rockshore, Harp, Hop House 13, Smithwick’s, Kilkenny and Carlsberg

An Bord Pleanála has given the green light to drinks giant Diageo to construct its planned €200 million brewery for Newbridge, Co Kildare.

With the appeals board granting planning permission to the project on Monday, the new brewery for Littleconnell is to provide a big jobs boost to the Kildare area, with up to 1,000 jobs during the 20-month construction period, and the creation of a further 70 jobs when operational.

The new facility, which will operate 24 hours a day, will brew lager and ales including Rockshore, Harp, Hop House 13, Smithwick’s, Kilkenny and Carlsberg. Reports last week indicated Diageo is planning to sell off most of its beer portfolio. The company said at the time it does not comment on market speculation.

[  Cantillon: Is Diageo about to call time on its Irish ales and lagers?  ]

In a statement on Monday, Diageo said that it expects to commence construction work on the project “in early 2024″.

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A spokeswoman for Diageo said that the company welcomes “the decision by An Bord Pleanála to grant planning permission for Ireland’s first purpose-built, carbon-neutral brewery in Kildare”.

She said: “This €200 million investment by Diageo in Ireland will support the growth of our beer brands while meeting our targets to be net zero by 2030.

“The benefits of this project are compelling and we expect work to commence in early 2024,” she added.

Kildare County Council had granted planning permission for the project back in March but the brewery plan was stalled after a man at the centre of RTÉ Investigates allegations concerning pay-offs to objectors in the planning system, John Callaghan, appealed the decision through his Sustainability 2050 entity, while a separate appeal by a John Lynch from Athy, Co Kildare was also lodged with the appeals board.

Mr Callaghan withdrew his appeal on November 23rd and confirmed last week that no financial inducement was sought or offered in connection with the withdrawal of his appeal.

[  Objector to Diageo’s planned Newbridge brewery says no financial inducement sought  ]

In an interview, Mr Callaghan said that he never had a meeting with Diageo or anyone representing Diageo concerning the Sustainability 2050 appeal in connection with the brewery plan.

This was confirmed by a spokeswoman for Diageo who said last week “we have not had contact of any kind with the individuals behind Sustainability 2050 either directly or indirectly”.

The John Lynch appeal remained “live”.

An Bord Pleanála has twice deferred a decision on the appeal due to the backlog in cases it is currently dealing with. In September, Diageo warned that the project is time sensitive “and further delays will jeopardise the rationale for this €200 million investment in Ireland”.

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Gordon Deegan is a contributor to The Irish Times

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