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Remodeling Business Plan Template
Remodeling business plan for starting your own building company
Whether it’s about increasing one’s property value or boosting one’s lifestyle, remodeling is the way to go. Remodeling is a type of business that can be started with simple services at the residential level. And can be expanded to performing complicated renovations needed by commercial buildings and businesses.
No matter how large or how small your startup is, you would have to create a remodeling business plan for remodeling. Creating a comprehensive business plan before you open a remodeling business will help you in:
- Recognizing the latest trends
- Acquiring the right expertise
- Avoiding troublesome situations
- Efficiently manage finances
To help you in creating a business plan that covers all the essential aspects, we’re providing a sample business plan of a startup ‘Model-It Solutions’.
2.1 the business.
Model-It Solutions will be a registered, licensed, and insured remodeling business startup based in Buffalo, New York. The business will comprise expert contractors, architects, and engineers to enhance the aesthetic and comfort level of residential as well as commercial structures.
Simply put, we build what you dream!
2.2 Management of Remodeling business
As a business owner, you can’t rest after setting up a remodeling company. You have to be proactive in organizing and analyzing various business operations. In the case of a remodeling business, you need efficient management to complete given projects in time. To make sure that clients get the work done according to their expectations, you have to properly manage communication, finances, and resources among various channels.
2.3 Customers of Remodeling business
Exploring who are going to be your customers is extremely important. Before you search for how to start a remodeling company, you should identify your customers.
The target customers of Model-It Solutions will be the homeowners, construction firms , contractors, and government agencies. To turn them into our potential customers, we will be taking effective steps.
2.4 Business Target
Our major targets are:
- To maintain a customer return rate of 20% throughout our service years
- To maintain a CSAT score of above 85%
3.1 company owner.
Anna Huston will be the owner of Model-It Solutions. Anna is an MBA. After completing her education at Stanford University, she started working in Skanska.
But 5 years into the service, she decided to start a remodeling business of her own.
3.2 Why the remodeling business is being started
Anna always remained a woman of creative ideas. After serving in a multinational firm, she decided to move to her hometown and serve people with her talent. She realized that the remodeling business has never-ending scope in the years to come as people keep thinking of bringing improvement to their property.
3.3 How the remodeling business will be started
Step1: Plan your business
As the first step, Anna studied various business plan examples for remodeling company to make a business plan for remodeling. From analyzing the market shares to creating a financial plan, Anna put everything on her business plan.
Through this remodeling business plan sample you can study the business’ requirements, balance sheets, personnel plan, and other aspects of Model-It Solutions.
Step2: Define your brand
The second step after creating a remodeling business plan is to get your business registered. You will have to acquire the required licenses and permits. Moreover, this is the time when you have to physically establish your business office.
Step3: Hire the staff
The third step is to conduct interviews and tests to hire the most competent employees.
Step4: Get ready to promote & market
The next step is to promote your services and competitive aspects to reach your target customers. This step also involves the strategy you will adopt to gain and retain your client base.
Step5: Establish a web presence
In this age, people use Google to find the right service provider whenever they need any service. Therefore, it has become essential that you establish a strong social media and web presence.
Anna decided to hire a professional IT expert to create a website for Model-It Solutions. The website will also enable users to make online bookings. Moreover, the website will also keep a record of repeat customers so that Anna could evaluate her business performance time-to-time.
Our startup expenses including costs of all the things we could need for the startup are given below:
Before exploring how to start your own remodeling business, you should decide your services. Deciding your services even before the launch can help you in identifying the ways through which you can facilitate your customers.
To give you a notion of services you can provide as a remodeling firm, we are enlisting the services provided by Model-It Solutions in this remodeling business plan template.
- Full House Remodeling: Our primary service will be to do the whole house remodeling. In this, we will work to redesign an old building to fulfill modern needs such as increasing the living space or making the interior/ exterior more appealing.
Depending on the clients’ needs we will remodel their kitchen, laundry, bath, deck, and more. We also install sidings, flooring, new windows and doors, cabinets, and whatever else our customers would need.
- Handyman Remodeling: This service will include doing minor changes in homes such as installing a modern lighting system, carpeting, painting the walls and cabinets, installing wallpapers, and doing small repairs.
- Historic Home Remodeling: Our third service will be to remodel historic and significant architectural buildings without affecting their historic aspects.
- Individual Structural Re-design: We will offer the services of adding/ removing the bathroom, room, kitchen, and laundry, installing a staircase, modern roofing, etc.
Marketing Analysis of Remodeling Business
Marketing analysis is an important part of a remodeling contractor’s business plan as it enables the business owner to keep pace with the demands of their customers. Through efficient marketing analysis, you can recognize remodeling domains that have high demand. Moreover, this part also gives you a clear idea of your customers before you open a remodeling business.
5.1 Market Trends
According to a report by IBISWorld, remodeling businesses have seen a growth rate of 1.7% in the past five years. More than 455 thousand remodeling companies are operating throughout the United States. The market size, according to the same outlet, is reported to be £97 billion.
The market stats are quite satisfying and the growth rate also indicates that there is still room for other startups to join the venture. If you want to ensure that you get customers from the very beginning of your startup, you should study the market trends of individual locations. That will help you locate an area where competition is low and people who need remodeling service are greater in number.
5.2 Marketing Segmentation
Identifying your customers before investigating how to write a business plan for remodeling is necessary. Dividing the wide populations into distinct groups can help you in recognizing their demands. And thus enabling you to plan ways to fulfill their expectations.
The groups that were identified by Model-It Solutions as potential customers are given below:
5.2.1 Real Estate Owners: Our primary customers will be the people who own any sort of building. They can need our services in two cases:
- They want to enhance the interior design / exterior for themselves.
- They want to remodel the property to increase its value so that it could be sold at a greater price.
In any of the cases, we’ll go to all extents to make sure they are happy and satisfied with our remodeling services. For them, we’ll provide full property remodeling services as well as individual services like installing new cabinets and remodeling the kitchen, etc.
5.2.2 Contractors & Construction Companies: The second group of our target customers will include contractors and construction companies. They will need our services whenever they get some project or even when they are building some structure from scratch.
5.2.3 Government Agencies : Our third category comprises government agencies who will be needing us to remodel structures of historic, artistic, and cultural importance – in a way that their integrity and historic aspects are maintained.
The detailed market analysis of our potential customers is given in the following table:
5.3 Business Target
Anna set her business financial and other goals before starting a remodeling company. She realized that by doing so, she would be able to provide a direction to her resources and talent.
The business targets of Model-It Solutions are
- To earn a net profit of £24k per month by the end of the first year
- To lower the costs of our operations by 5% by the end of the 3 years by improving our techniques and methods
5.4 Product Pricing
The prices of our services will be lesser than those of our competitors. It is because we want to capture as many customers as possible in the initial phases of our startup.
A remodeling business plan is incomplete unless you include in it, the ways to capture the attention of your target audience. In this marketing plan for remodeling business we are enlisting the exclusive sales strategy plan of Model-It Solutions.
6.1 Competitive Analysis
Anna realized that hundreds of remodeling firms are already operating in Buffalo. Therefore, she decided to come up with distinct features to outperform her business rivals.
The competitive aspects of Model-It Solutions are:
- We are highly client-oriented. We will always be willing to amend the remodeling designs as per our clients’ wants and needs.
- Our workers are highly skilled and highly collaborative.
- We provide online booking and payment facilities to our customers.
- Our repeat customers will be offered several discounts.
- Our prices are lower than our competitors, so you can easily try our services for a minor/ major task.
6.2 Sales Strategy
To get introduced to our target customers, we will:
- Advertise our startup through local newspapers, Google Local ads service, and social media
- Keep our prices lower than our competitors
- Establish a strong web presence using SEO techniques
- Provide a 25% discount to our repeat customers on every second visit
6.3 Sales Yearly
6.4 sales monthly, 6.5 sales forecast, personnel plan.
While writing a business plan for remodeling, you should also define your employees, their job responsibilities, and requirements. It will enable you to judge the applicants on a definite criterion when you are going through the hiring phase.
7.1 Company Staff
Anna will manage the business herself. However, she’ll hire the following staff:
- 1 Co-Manager
- 1 Architect to design/ remodel complicated projects
- 2 Contractors to implement remodeling designs
- 5 Field Workers to work as laborers
- 1 Accountant to maintain financial records
- 1 Technician to maintain the machinery
- 1 IT Expert to manage the company’s website, online record, and social sites
- 1 Driver to provide transportation
7.2 Average Salary of Employees
In the last part of your business plan, you should analyze your estimated cash flows. Before you make a remodeling business plan, you should have a clear idea of how much amount you intend to spend on which aspect of your business. Moreover, you should also have a plan to achieve your business goals by optimizing your profits.
In this business plan sample, you can explore the financial projections, break-even analysis, business ratios, gross margins, and other financial estimations done by Model-It Solutions to gauge its progress and business value.
However, while you go through this financial plan, remember, its projections are based on the assumption that there will be no major recession in the coming 5 years.
8.1 Important Assumptions
8.2 brake-even analysis, 8.3 projected profit and loss, 8.3.1 profit monthly, 8.3.2 profit yearly, 8.3.3 gross margin monthly, 8.3.4 gross margin yearly, 8.4 projected cash flow, 8.5 projected balance sheet, 8.6 business ratios.
Download Remodeling Business Plan Template in pdf
OGS capital professional writers specialized also in themes such as engineering consulting , HVAC business plan, real estate flipping business plan , architecture firm business plan etc.
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than £1.5 billion in funding, and they can do the same for you.
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Renovation Business Plan Template & Guidebook
Are you ready to get your renovation business up and running? With the right plan in place, you can create a thriving business that resonates with customers and provides numerous growth opportunities. The #1 Renovation Business Plan Template & Guidebook is the perfect tool to help you prepare and put together a professional plan for success! This comprehensive guidebook will provide step-by-step instructions, expert tips, and all the necessary resources you need to create your business plan and make sure it is implemented with precision.
Get worry-free services and support to launch your business starting at $0 plus state fees.
- How to Start a Profitable Renovation Business [11+ Steps]
- 10+ Best & Profitable Renovation Business Ideas 
- 25 Catchy Renovation Business Names Business Names:
How to Write a Renovation Business Plan in 7 Steps:
1. describe the purpose of your renovation business..
The first step to writing your business plan is to describe the purpose of your renovation business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.
It also helps to include a vision statement so that readers can understand what type of company you want to build.
Here is an example of a purpose mission statement for a renovation business:
The purpose of our company is to offer high-quality, customer-oriented renovation services that are tailored to meet the individual needs of our clients. We strive to inspire and create vibrant, personalized spaces that reflect the values and lives of our customers while delivering on time and on budget.
2. Products & Services Offered by Your Renovation Business.
The next step is to outline your products and services for your renovation business.
When you think about the products and services that you offer, it's helpful to ask yourself the following questions:
- What is my business?
- What are the products and/or services that I offer?
- Why am I offering these particular products and/or services?
- How do I differentiate myself from competitors with similar offerings?
- How will I market my products and services?
You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.
3. Build a Creative Marketing Stratgey.
If you don't have a marketing plan for your renovation business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals.
A good marketing plan for your renovation business includes the following elements:
- Who is your target market?
- What do these customers have in common?
- How many of them are there?
- How can you best reach them with your message or product?
- Who are your current customers?
- Where did they come from (i.e., referrals)?
- How can their experience with your renovation business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?
Product or service description
- How does it work, what features does it have, and what are its benefits?
- Can anyone use this product or service regardless of age or gender?
- Can anyone visually see themselves using this product or service?
- How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?
- Which companies are competing with yours today (and why)?
- Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
- What specific advantages does each competitor offer over yours currently?
- Which marketing channel do you intend to leverage to attract new customers?
- What is your estimated marketing budget needed?
- What is the projected cost to acquire a new customer?
- How many of your customers do you instead will return?
Form an LLC in your state!
4. Write Your Operational Plan.
Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations.
In it, you should list:
- The equipment and facilities needed
- Who will be involved in the business (employees, contractors)
- Financial requirements for each step
- Milestones & KPIs
- Location of your business
- Zoning & permits required for the business
What equipment, supplies, or permits are needed to run a renovation business?
Equipment: Safety gear, power tools, demolition tools, hand saws, screwdrivers, hammers, ladders, drills, sanders, paint mixers, measuring tape. Supplies: Drywall sheets, nails & screws, sealants & caulks, drop cloths and tarps. Permits: Depending on location and scope of work some permits may be required (building permit). Check with local regulations to get information on the specific permit types needed.
5. Management & Organization of Your Renovation Business.
The second part of your renovation business plan is to develop a management and organization section.
This section will cover all of the following:
- How many employees you need in order to run your renovation business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
- The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
- How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!
6. Renovation Business Startup Expenses & Captial Needed.
This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.
Typically, expenses for your business can be broken into a few basic categories:
Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a renovation business varies based on many different variables, but below are a few different types of startup costs for a renovation business.
Running & Operating Costs
Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.
Marketing & Sales Expenses
You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your renovation business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.
7. Financial Plan & Projections
A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your renovation business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses.
Here are some steps you can follow to devise a financial plan for your renovation business plan:
- Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
- Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
- Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
- Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
- Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
- Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.
Frequently Asked Questions About Renovation Business Plans:
Why do you need a business plan for a renovation business.
A business plan is important for any business, including a renovation business. It will help you create a roadmap for success, set goals and objectives, secure financing, and organize and manage the various aspects of your business. Creating a comprehensive business plan will also ensure that you have a well-defined strategy for reaching your goals and objectives.
Who should you ask for help with your renovation business plan?
It is a good idea to consult a professional business advisor or accountant for help in creating a renovation business plan. A lawyer may also be able to provide valuable advice and guidance on legal issues and regulations that may apply to your business.
Can you write a renovation business plan yourself?
Yes, it is possible to write a renovation business plan yourself by first researching other renovation businesses and the industry, then gathering information about the renovation business you want to start, such as services you plan to offer, your target market and customer base, marketing and pricing strategies, financial projections, and the steps you will take to reach your goals. Once all of that information is compiled, you can use templates or worksheets to organize your data into a comprehensive business plan.
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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.
Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.
From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.
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From Start to Finish: How to Start a Successful Remodeling Business
Learn how to build a successful remodeling business from scratch with our comprehensive, expert guide.
If you have been considering opening your own remodeling company, you are probably wondering how to get started. In this guide, we walk through the steps of how to start your own remodeling business.
This article details the different types of home remodeling businesses such as a kitchen remodeling business or a bathroom remodeling company. It explains what type of professionals are most successful at starting their own home remodeling business, the licenses and certifications required as well as the estimated costs of starting a remodeling business.
Click on a link below to jump to the section you're most interested in:
Who should start a remodeling business?
How much does it cost to start a remodeling business?
- How to start a remodeling business step-by-step
When should you start a remodeling business?
Where should you start a remodeling business?
Other tips to remember when starting a remodeling business
Skilled remodelers who find their niche have the potential to run a growing and profitable business. Homes represent the biggest investment for most people and so they are
highly motivated to make them as comfortable, energy efficient and on trend as possible. With the encouragement of DIY shows and social media, they take on many projects themselves. But most homeowners lack the time and aptitude to unravel the more complex projects, and need the help of pros.
In the U.S. alone, the remodeling industry is huge, and has grown 50 percent in the last decade. But before you take the plunge, consider whether you are ready to take on the challenge of starting your own business. Besides having the experience, skills and tools needed to take on your own remodeling business, you will need to know how to run a company.
The advantages of owning your own remodeling business means you will be able to set your own schedule, help customers increase the value of their homes and enter a market that is growing. However, running a business is hard work, and running a remodeling business is even harder considering the physical labor involved. Besides being self-starters and knowledgeable about the construction business, the most successful remodeling business owners have strong communication skills to help them successfully deal with subcontractors and clients, the bread and butter of any remodeling company.
Learn more here about What Do Remodelers Do?
The cost of starting your remodeling business will depend on what equipment you already have available as well as the size of the company you plan to start.
If you already have the tools and vehicle, overall startup costs can be as low as $5,000 to cover setting up a name, licenses and permits, printing business cards, getting insurance, and creating a website.
If you need to buy tools and a vehicle, even if you are starting a small remodeling business, the startup costs can range from $50,000 to $70,000. And, if you decide to open a physical office outside of your home, figure in the cost of rent, utilities and computer equipment. Starting a larger company that offers more major renovations and includes staff requires six-figures capital to begin.
What does it take to start a remodeling business?
With the cost considerations and length of time it takes to start a remodeling business in mind, let’s walk through each step of opening a remodeling business:
Step 1: Conduct Market Research
Knowing the construction landscape in your area will help your business be more successful and help you nail down your specialty. Do research to determine who your potential clients are, as well as your competitors. This will help you know how to reach your customers and choose the services to offer.
- Research the Competition What type of remodeling services are other companies in the region offering? Look into the other businesses in the area and see if there is a gap in the market that your company can fill.
- Determine Your Ideal Client Conduct research to identify the type of client you are seeking.
- Assess the Potential Demand for Services: Does your ideal client match up with the demographics of the community where you plan to open your business? If not, determine what type of services are needed there or find an area where your services might be more in demand.
Step 2: Choose Your Remodeling Name & Niche
Armed with your marketing research, it’s time to pick your specialty and business name:
- Decide Your Niche Perhaps you may decide to specialize in kitchen remodeling, sunrooms, or outdoor spaces. Maybe you want to be more of a generalist.
- What Services Will You Offer This may include tile work, plumbing, painting, cabinet installation, fixture installation, and more. Narrowing down your products will help you be able to communicate the type of work you do in marketing materials and to clients.
- Pick a Name The name of your business should convey your services and mission so the clients know immediately that they are contacting the right company for their project. Here are some things to consider when deciding on a name
- Brainstorm many first Make a list and narrow it down later.
- Make it easy to pronounce and spell.
- The name should be relevant to the services you offer
- Keep it simple, but catchy. The best remodeling company names are not overcomplicated. You want your home remodeling business name to be easily understood and recognizable.
- Use keywords such as remodeling when coming up with remodeling business name ideas.
- Don’t paint yourself in a corner Avoid remodeling business names that are geographically specific so that you allow for future expansion in both region and services.
- Run your top remodeling business name candidates through a search on the US Patent and Trademark Office website to make sure they are available, and conduct a domain search to make sure they are not already taken.
Step 3: Develop Your Remodeling Business Plan
In the rush to start a new remodeling business, it is tempting to hurry your business plan, or skip it completely. But having a map to follow will lead to a more successful company. Here are the typical components of a business plan:
- Executive Summary A short recap of what will be included in the plan.
- Company Description This details the name of your company, size and type of services it will offer
- Target Market A remodeling business plan includes a description of the type of clients your business is seeking to serve as well as their geographic location, and other demographics.
- Market Analysis What did you discover during your market research and why did you decide on this particular clientele and product offerings? This section provides those details.
- Marketing & Sales Strategies Sketch out how you plan to reach your target audience and start filling your sales pipeline with leads.
- Financial Projections Detail the revenue streams and how your company plans to make a profit. Also, include in this section the percentage profit anticipated in the first year of business, and how it will grow five years out in the future.
Step 4: Choose Your Remodeling Business Entity
To protect yourself and your business, you will need to legally form your business before you open your doors. That means picking your business structure and forming a business entity. The type of structure you pick can also impact your ability to get business loans and seek investors, if that is a route you are considering. Here are the most common ways remodeling businesses are structured:
- Sole Proprietorship Business owners who choose this structure are in the business alone and have less protection from putting their personal finances at risk in cases of liability.
- LLC A limited liability company provides remodeling business owners a stronger legal shield because it limits the amount of liability because the members of a LLC are generally not personally liable for business debts and liabilities.
- Corporation This is one of the most complicated business structures and may be necessary if you plan to seek investors or go public with your company.
Step 5: Register Your Remodeling Business
No matter what type of business structure you choose, you will need to register your remodeling business with the state where you plan to locate it. Registering a sole proprietorship is as simple as registering a DBA Doing Business As name. An LLC register is a more complex process and requires filing articles of corporation, and other documents.
You also will need to get an EIN or Employer Identification Number to use when filing federal and any applicable state taxes. Check with your state to learn the specific requirements.
Step 6: Get Remodeling Licenses and Permits
Starting a business requires obtaining several licenses and permits from the federal government, state and even local government. These include a permit from the Occupational Safety and Health Administration, and other industry-specific licenses.
To learn which type of licenses are required check the websites of the state, local and county governments of where your business is registered. Professional groups such as the Small Business Administration can also provide guidance. And, you may also want to seek professional legal advice.
Step 7: Get Remodeling Business Insurance
Protect yourself from financial risks by purchasing insurance for a remodeling contractor. The most common type is general liability insurance to cover possible liabilities. If you have employees, you will likely be required to also acquire workers compensation insurance. Again, check to find out what type of insurance you will need before you open your remodeling business.
Step 8: Set Up Your Remodeling Business Finances
The bottom line of your remodeling business is assuring that it will be profitable. That means setting up your finances, determining how you will fund the business, deciding how much you will charge and setting up your accounting processes. Here are some steps to take:
- Secure Financing If you are lucky enough to have money saved for your business, you may decide to self- fund your business. But there are many other ways to secure capital to start a remodeling business without money. These include bank loans, government grants, Small Business Administration loans, and more. You may also decide to tap friends and family who are willing to invest in you, or use crowdfunding to kick start your business.
- Set Up Accounts It is crucial to separate your personal and business finances to avoid confusion and make it easier to file your federal, state and local taxes. Check out the various rates and services offered by banks to decide which one will work best for your business. Also consider what type of credit card you will use for your purchases.
- Accounting How will you handle the accounting of your business? There are various software services available as well as professional accountants who can help you along the way. Consider how you will track your expenses, create a budget and assure that you have all the documentation necessary to file your tax returns when the time comes.
- Pricing Before you open your doors, determine how much you will charge for your services. Research competitive rates in your area, and figure out how much you will need to price your services in order to cover expenses and make a profit.
Learn More These resources can help you with tips of how to overcome the challenges of getting your financing ducks in a row:
- Construction Billing Methods
- How to Price Construction Jobs
- Guide to Construction Budgeting
- How to Track Construction Time
Step 9: Build a Strong Remodeling Brand
The old adage about having an elevator pitch still runs true. Successful pros are able to articulate in a few sentences the values of their remodeling company and the services it offers.
Your brand conveys what your business stands for so take some time to list your values, goals and services. Then, use the information to write your elevator pitch and create the public-facing tone and message of your remodeling business. Do you want a logo? Is there a one-line catch phrase that summarizes your company that you want to add to your website and other promotional materials?
For more tips, check out How to Brand Your Construction Business
Step 10: Market Your Remodeling Services
Now that you have created and refined your brand, it is time to get the word out about your new remodeling business.
Here are just a few ways to let people know about your remodeling venture:
- Use Social Media The great thing about social media marketing is that it is essentially free, and where your potential customers are. Start by picking just one or two social media platforms, and post regularly. Photographs of projects, your team members, and more, are all great fodder for posts.
- Create a Website Having an online presence is no longer just an option these days. It is a prerequisite to success. While word of mouth is still strong in the remodeling business, searching the web is where homeowners turn when they are seeking a pro. A quality website with professional-looking photos, and information about your mission, services and team builds brand awareness and credibility.
- Networking Attend events, conferences and join professional industry organizations to make connections with your community and others in the remodeling business.
- Leverage Client Reviews There is nothing like a proven track record to turn the heads of new clients. Make it easy for your customers to deliver five-star reviews and consider starting a referral program. Post the testimonials on social media and make them prominent on your business website.
Marketing does not have to be a mystery. Learn more about how to fill your sales pipeline with a steady stream of clients:
- Social Media for Construction Businesses
- How to Do Email Marketing for Construction
- How to Increase Sales in Construction
- Networking in Construction
- How to Advertise Construction Business
- How to Get Construction Leads
Running your own remodeling business is filled with rewards. You are your own boss, you can channel your creativity and skills into the areas you determine, and a remodeling career can be profitable.
It is also not without its challenges as you compete with big box store services and a rising number of DIYers. Before you take the plunge, consider if you have taken all the steps discussed in this article to help assure your venture into entrepreneurship will be a successful one.
Location. Location. Location! Where to lay down your business roots is an important consideration. Using the market research you conducted regarding competitors and the type of services clients are seeking in a particular region can help you decide where the best place is to open your doors. Some pros also consider the regulations, tax costs, and other expenses of particular geographic areas, which can vary widely.
As you advance in your journey of starting your first remodeling business, here are a few other reminders to help you be successful:
- Follow up on Leads Eventually, you will be able to be more particular about which clients to take on, but at the start, build a strong reputation by checking out every lead.
- Build a Strong Online Presence When homeowners search online for remodelers, greet them with a website that makes them want to learn more.
- Get Estimating Right Accurate estimates are one of the most important ways to assure you make a profit and avoid costly change orders down the road. Invest in the time and resources to perfect your proposal-making skills.
- Prioritize Building a Strong Team As you add employees, focus on creating a skilled team that reflects your brand, and values. Investing in training can help assure that everyone is on the same page.
- Choose a Remodeling Business Software Technology can make your business life easier by helping you organize and manage leads, speed up your business processes and assure that you have the latest high tech tools that clients expect.
Seek out a software that is easy to use, includes powerful takeoff and estimating tools, makes it easy to collaborate with clients, is mobile-friendly so you can work from anywhere. Make sure it tools like 3D floor planner to impress clients with your presentations. Sign up for a free trial of Houzz Pro to explore our home remodeler business software
Yes, starting a remodeling business is not as simple as picking a name and opening your doors. But with careful planning and determination, you can build a business that will grow and thrive for years to come. You will be well along the way if you do your homework, create a solid business plan, learn the legal requirements and invest in marketing and branding. Best of luck!
Learn more about How to Grow a Construction Business.
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How to Start a Remodeling Business
If you're wondering how to start your own home renovation business, this guide on starting a remodeling business is best for you..
Are you considering starting a renovation company but are concerned about the amount of competition? Don’t worry about it.
There’s plenty of opportunity in the remodeling and home renovation world for contractors who accomplish as little as $100,000 in total volume per year and work their way up.
In this article, we’ll go over some of the steps you’ll need to do to get started in the remodeling business.
We’ll also go over some helpful hints for starting and growing a remodeling business in this industry.
So, if you’re considering to change career and becoming a contractor, keep reading!
Step 1. Decide on a specialty
All general contractors specialize in one or two services and then subcontract out the rest of the work. Which services you plan to fulfill yourself and which services you plan to contract out to subs should be addressed in your remodeling business plan.
For example, you may want to start remodeling your kitchen and bathroom, but you will only be able to do the tile work yourself. You’d have to hire others to do the electrical, plumbing, cabinetry, and finishing work. The amount of work you need to sub out will determine how big or small projects you can take on.
Larger projects usually mean more money, but if you have to contract out a lot of work, you may lose more money than you gain.
Step 2: Make a budget plan ahead of time
Home renovation businesses, in contrast to construction businesses, which are typically large corporations, are easier to manage financially. However, don’t expect everything to go smoothly. With so many other entrepreneurs in your field doing the same work as you, the most important thing you can do is make sure you have enough money to cover your initial costs.
This budget should include the wages of your employees (direct labor), overhead expenses (the total cost of all the tools you’ll need to complete the job), and direct materials (pretty self-explanatory). When you’ve figured out all of your upfront costs, it’s time to look into financing options.
Make appointments with several banks to see if they can provide you with some reasonably priced business loans. Additionally, look into government grants for small businesses. Even if you don’t qualify for one right now, knowing what options you have in the future is beneficial.
If you’re just offering your time and skills as a part-time re modeler, the start-up cost will be around $50,000 to $75,000 , as you’ll need a full set of tools, a vehicle to transport tools and supplies, and the necessary licencing and insurance to operate in your state and locality. If you are starting a remodeling business providing major renovation services, you’ll need $250,000 to $500,000 in start-up capital, as you’ll need to buy your first few orders of materials and hire staff before your customer pays you for the job.
Step 3: Your remodeling business name
Choosing the right business name is crucial and difficult. If you run a sole proprietorship , you should consider using a different remodeling business name than your own.
When registering a business name, we recommend conducting the following research:
- The business records of your state
- Platforms for social media
- Records of federal and state trademarks
- The availability of a web domain.
Step 4. Create a legal business entity
- Sole Proprietor
- C Corporation
- General Partnership
Find out how to form an llc yourself
Learn about llc formation, including information on registered agents, naming rules, business licenses, and more.
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- Minnesota LLC
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Step 5. Acquire the required licenses and insurances
You may discover that your state requires you to obtain a contractor’s licence if you Google how to start a remodeling business. You might be able to skip this step if you’re only doing finishing and cosmetic work. If you plan to make any structural changes to homes or buildings, install roofing or siding, or perform electrical or plumbing work, you will need to be properly certified.
In addition, you should purchase general liability insurance. Even if some states don’t require it for all contractors, it’s a good idea to have one in case something goes wrong and the homeowner or business owner decides to blame you.
For example, if you remodel a bathroom and the pipes burst two weeks later, you may be liable for property damage. General liability insurance could protect you from having to pay for a priceless heirloom out of your own pocket if one of your employees steals from a homeowner.
Ready to Protect Your Remodeling Business
Let us help you with your business insurance needs.
- General business liability insurance
- Medical insurance
- Term life insurance
- Workers’ Comp
- Surety bonds
- Commercial auto
Step 6. Make friendship with subcontractors and suppliers
People who provide you with the materials you need for your home renovation business, as well as your collaborators, should be treated as family. Despite the fact that it is a business partnership, it should be built on mutual trust and support.
The most important rule to follow is that you should always pay your suppliers and collaborators on time. Your company will rely on them just as much as it will rely on your own abilities.
For example, you could use online invoicing to speed up the payment process and your company’s workflow. These practical tools not only help with workflow, but they also help with cash flow, resulting in smooth and quick business collaboration. If you need invoice templates, visit our invoice template page to download the professional free invoice templates.
Many new businesses can be found in the home renovation market. While becoming a successful business owner in this field will take a lot of time and effort, there is plenty of room for (both personal and professional) growth. As a result, take the plunge and start your own remodeling business.
Step 7. Create a business bank account and a credit card for it
Personal asset protection necessitates the use of dedicated business banking and credit accounts. When your personal and business accounts are mixed, your personal assets (such as your home, car, and other valuables) are put at risk if your company is sued. This is referred to as piercing your corporate veil in business law.
Furthermore, learning how to build business credit can help you obtain business credit cards and other financing in your business’s name (rather than your own), lower interest rates, and increase credit lines, among other benefits.
Open a bank account for your business
- Separates your personal assets from your company’s assets, which is necessary for personal asset protection.
- Makes accounting and tax filing easier.
Create a net 30 account
Get a credit card for your remodeling business.
- Put all of your business expenses in one place to separate personal and business expenses.
- Build your company’s credit history, which will come in handy if you need to raise money in the future.
Step 8. Set up a phone system for your business
Getting a business phone is one of the most effective ways to keep your personal and professional lives separate and private. That isn’t the only advantage; it also aids in the automation of your business, provides legitimacy to your company, and makes it easier for potential customers to locate and contact you.
Wise business plans offer a variety of features for businesses, including Toll-free numbers, Coverage in US and Canada, team messaging and more. Try our business phone services today.
Step 9: Promote your expertise
Your company will require excellent marketing in order for people to be aware of and use the services you provide. One of the things you should do in the first few months of your remodeling business is market it.
You can advertise your business by handing out flyers, putting up billboards, or using the internet. Putting your brand on Craigslist is the best way to market today. You’ll get more leads and make more money if you use online marketing.
Tips for Growing a Remodeling Business
Here are some tips for contractors on how to handle increased demand and expand their remodeling business during a recession.
1. Keep your money safe
2. keep your lien rights safe, 3. carefully select remodeling clients, 4. make a precise bid, 5. keep track of your financial results, 6. don’t use your cash flow as a source of funding, 7. set up proper deposit and billing schedules, 8. make invoicing and payment collection more efficient, 9. learn the fundamentals of accounting, 10. make a backup plan , 11. examine the length of your sales cycles, 4 key success factors.
- Possessing a high success rate in the past (including completed prior contracts): Companies with a strong reputation for having the financial, managerial, and technical capacity for remodeling projects attract potential clients. Successful remodeling companies can show a portfolio of previous work and testimonials from happy clients.
- Workforce that is multi-skilled and adaptable: Reputable tradespeople and subcontractors are available on a project-by-project basis for successful remodeling companies.
- Controlling costs effectively: Successful remodeling businesses maintain tight cost controls and have access to low-cost input materials to maintain competitive pricing.
- Product promotion which effective: To generate publicity and new contracts, successful remodeling companies have a strong marketing department.
The highlights of our recently developed remodeling business plan
Market analysis summary: remodeling business plan.
Over the five years to 2020, operators in the Commercial Property Remodeling industry have benefited from increased demand as a result of falling office rental vacancy rates and rising consumer spending, at least through 2019.
Furthermore, in recent years, rising corporate profits have prompted businesses to renovate commercial properties, boosting demand for industry services.
As a result, IBISWorld expects industry revenue to grow at a 4.4% annualized rate to $35.8 billion over the forecast period. However, the spread of COVID-19 (corona virus) has brought the global economy and, with it, industry activity to a halt in 2020.
Industry revenue is expected to fall in 2020 due to expected decreases in the value of private nonresidential construction and corporate profit. At the same time, due to the rise in stay-at-home orders, office rental vacancies have increased. As a result, revenue growth is expected to slow by 11.3% in 2020.
Product and Services
Interior room additions and alterations will account for 22.3 percent of industry revenue in 2020, according to industry contractors. Interior room alterations and additions are required for all downstream markets, including office buildings, commercial buildings, and other structures.
When businesses relocate, commercial property contractors, for example, renovate their office interiors. Removing walls, doors, and other interior infrastructure can also help industry operators expand warehouses and other facilities.
Over the last five years, demand for interior alterations and additions has risen in tandem with a rise in commercial construction spending.
You’ll need to keep track of your material suppliers’ accounts, pay your crews on time, and keep your vehicles and tools in good working order. Fortunately, you can keep your office space to a minimum.
Owners of residential and commercial properties who want their property professionally renovated and are willing to pay a reasonable price for labor and materials. Large businesses that require renovations may have more space, allowing you to charge a higher rate.
Customers pay you for labor and materials for their renovation, which is how your remodeling business makes money. As part of your trade, you are responsible for providing your own tools. Paint, hardware, lumber, flooring, and other supplies, on the other hand, are purchased at wholesale prices and then charged to your customer at a premium. Your hourly labor costs will be determined by your level of expertise, the type of job you’re doing, and local labor rates.
The size and complexity of the job will determine your rates. Rates range from $45 to $85 per hour, with the possibility of lower or higher rates. To ensure that your client is getting a good deal, you should conduct a thorough competitive analysis. Between $3,000 and $15,000 is the average cost of a renovation project.
The standard markup on materials is 15%. A one-man company with multiple crews can earn around $20,000 per year working part-time, while a large contractor with multiple crews can earn in the seven figures when they complete multiple large jobs throughout the year.
Providing high-quality work that completely satisfies your customers is the most effective way to increase business and profit. For a successful remodeling business, you’ll need to make sure that quality control and customer service are always top priorities.
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How to Start a Home Renovation Business
If you are passionate about home improvements, starting a home renovation, repair, or re-construction business can be an exciting and rewarding venture. There’s nothing quite like being your own boss while doing something meaningful and fulfilling. Play your cards right, and you’ll also get to make a decent income and career out of it.
The home renovation space is teeming with lucrative opportunities. Many homeowners will pay top dollar for room additions and improvements, bathroom and kitchen makeovers, landscaping , roofing and flooring, décor, HVAC services , and more. The US home remodeling market grew to $340 billion in 2020. And it could reach $450 billion by 2027, with the Do-It-For-Me (DIFM) segment taking a 60+ percent market share.
So, where do you begin? Starting any business calls for careful planning and finessing. Even a small contracting business has several moving parts. And it’s your job to put everything together that makes the business work.
This is more than a guide on how to start a home renovation business. It will take you through all the necessary steps, worthy considerations, and pitfalls to avoid when establishing a home remodeling business.
Let’s get started.
Step-by-Step Guide to Starting a Home Remodeling Business
Before you make any moves toward starting your own home contractor business, it’s important to understand what you’re getting into. Get the lay of the land and learn what to expect. So, take a step back and ask yourself the following questions:
- Why am I getting into the business?
- How will I be involved in the business?
- What will I sell?
- Where will I sell and to whom?
- What unique value does the business bring to the market?
- Who are my potential competitors?
- Is my idea financially feasible?
- What will it take to make the venture work?
- How big can the business really get?
- What challenges lay ahead?
Conduct some rough preliminary research into the home remodeling scene in your target area or market. You need a good picture of the market’s size, dynamics, and potential competitors. Find out what consumers want, what they’re getting, and how much they’re paying for it. After that, you can identify the market holes or niches that your business could fill. Then build your business model and unique selling points from there.
Going into any business also requires the right mindset. For starters, check your expectations, anticipate challenges, and set realistic and achievable goals.
With that in mind, here are steps to start a remodeling business.
Draft a Solid Business Plan
A business plan is a formal document that serves as a roadmap for your new business. It’s a dynamic guide that describes how to structure, run, and grow the enterprise. Business planning essentially fleshes out your business idea and represents it as a digestible and actionable blueprint. This should help you get an overview of the renovation business and spot its potential strengths and challenges.
There are generally two ways to write a business plan. One, you can draft a comprehensive traditional business plan detailing every aspect of the business. But for a small home improvement business, it’s better to keep things simple at first with a lean business plan. This type of business plan is more compact and concise. It covers just the core business elements in a few short pages.
These are the key components you should include in your lean business plan:
- Business overview – Give a general description of the business model.
- Key activities – Outline the home renovation services you’ll be offering and your role in the business. Will you be doing the work yourself or contracting outsourced professionals?
- Resources available – What key resource will your home renovation business leverage? It could be your skills and expertise in the home improvement industry, a capable labor force, construction/renovation equipment, or a proprietary asset.
- Value proposition – Explain the unique value your business brings to the consumers. These are your unique selling points (USP), the attractive qualities that distinguish you from competitors.
- Customer segments – Narrow down your target customers. Your ideal customer might be a fresh homeowner looking to turn their new house into a home. Or anyone wanting to raise their property’s value for an upcoming appraisal or sale.
- Revenue streams – Paint a picture of how the business will make money remodeling homes.
- Cost structure – Design a cost structure fitting your business model and its services. More importantly, set an affordable and competitive price point.
- General financial plan – Work out what it’ll cost to launch and run the business, how you’ll get the money, and what the cash flow will look like.
- Goals and objectives – You should have a clear vision for your new business. How far do you want to take it?
Pick a Name and Get Registered
Choose a catchy name for your business and get it registered in your state. However, there’s much more to registering a new business than simply picking a killer name.
First, you have to choose a business structure under which to register your home remodeling venture. There are several business structures to choose from. But sole proprietorship and LLC (limited liability company) are the best structures for a small home renovation business.
Registering a Sole Proprietorship
A sole proprietorship is a business that’s owned and controlled by one person. It’s also the simplest of all business structures. To register a sole proprietorship, you can either put up your own name or pick a fictitious name by filing a DBA (“doing business as”). Registering an LLC
Unlike a sole proprietorship, an LLC separates your personal and business identities, legally speaking. That means you won’t be personally liable for the business’s legal or financial obligations, such as debts and lawsuits. However, registering an LLC is a lot more involved than a sole proprietorship.
With an LLC, you’ll have to nominate (depending on your state) a “registered agent” to submit and receive legal papers on your behalf. You’ll also have to file two documents: Articles of Organization (also known as Certificate of Formation or Certificate of Organization) and an LLC Operating Agreement, though this is not required in every state.
In either case, you also need an Employer Identification Number (EIN) to hire workers, file federal taxes, open a business bank account, and apply for business permits. The federal government also requires every business with employees to have unemployment, workers’ comp, and disability insurance. Remember, business insurance laws vary from state to state. But compulsory or not, insurance is essential in the home renovation business. So, consider insuring your business anyway.
Learn more about business structures and registration in this article by the SBA.
Secure the Necessary Permits and Licenses
Every business needs a license in order to operate anywhere in the country. Business licenses are issued by local government agencies, usually the city or municipal office. But a license only allows you to do business. You’ll also need various business permits to carry out home renovation projects in specific states, cities, municipalities, or zones.
The permit requirements for your home contractor business will depend on its specialization and location. You may also need temporary work permits for specific projects. But generally, most states and cities require builders and contractors to have a professional license/certificate, health and safety permits, and general contractor permits. Check with your local industry and government authorities to see the permits you’ll need.
Nail Down the Business Logistics and Resources
By this stage, you already have a fundamental business framework. Now is the time to gather all the resources you’ll need to get going. This will obviously depend on your business model, size, and service scope. Top-of-the-list items might include:
- Funding – Get the funds to start and run the business until it can stand on its own. You can bootstrap the venture or apply for financing from banks or alternative lenders.
- Labor – Start hiring subcontractors, handypersons, project managers, etc., if needed. But you don’t have to make permanent hires right away. It’s safer and more cost-efficient to hire staff on a contract basis at first.
- Suppliers – Find the best suppliers for any construction, plumbing, or electrical materials you’ll need for various home renovation projects. Remember to consider reliability and quality above pricing when selecting suppliers.
- Assets – Acquire all the equipment, machinery, and tools you’ll need to start work (specialized construction equipment, vehicles, hand tools, etc.). Buy what you can afford and hire the more expensive machinery, such as trucks and power tools, only when needed. These assets can also include the tools needed to run a business, like an estimating and invoicing app, or setting up a template in Excel.
Define Your Remodeling Business Brand
Branding is a way of setting your business apart from its competitors. It’s a means for customers to identify and associate with your business. Branding also forms the basis for marketing. Anything that identifies your business is part of your branding, from its name and logo to USPs.
However, there’s more to branding than just the business name and logo. Branding extends beyond mere recognition to the customers’ perception of the business. Customers prefer to engage with the businesses they trust, and you can build that trust through strong branding.
Your brand should represent what your renovation business stands for, expressing its qualities, strengths, values, and personality. In other words, instill customer confidence through your business’s presentation. Make assurances, quality guarantees, and value-added advantages part of your business identity.
Once everything is set up, you can start a rigorous marketing campaign. Focus your marketing efforts on spreading brand awareness and generating leads to score your first customers. That means presenting your brand to the relevant audiences and getting people excited about signing up for your home remodeling services. You can do this in any number of ways.
Here are some proven marketing ideas worth trying out:
- Create a website and optimize it for local search within your service area.
- Get your business on social media: Facebook, YouTube, Instagram, Nextdoor, Twitter, and LinkedIn.
- Involve yourself in local community activities.
- Brand your vehicles, machinery, and work sites.
- Cold pitch to homeowners using direct mail.
- Hand out flyers and branded merchandise at local gatherings and events.
- Get your business listed in local and online directories.
- Join various home remodeling and construction groups/associations to build your credibility and leverage their advertising muscle.
- Consider taking out paid ads in local publications and on the internet.
- Entice first-time customers with irresistible home renovation discounts and offers.
Avoid These 8 Rookie Mistakes
Fundera calculates that about 20% of small businesses fail in their first year. Meanwhile, about half never make it past five years. Worryingly, start-ups in the construction industry have relatively low survival rates. Only 35% of small construction businesses make it through their fifth year.
These grim figures are not meant to scare or discourage you from starting your home renovation venture. In business, failure is always an opportunity to learn, even the failures of others. And there’s a lot you can learn from failed businesses when starting your own. On that note, here are some of the costly mistakes that can easily run you out of business as a home improvement contractor:
Starting with Too Little Cash
Running out of cash is one of the top reasons many small start-ups fail. Don’t underestimate your business’s financial needs. Ensure you have enough capital to begin with and avoid unnecessary purchases or drawing money out of the business during its infancy.
Underestimating the Competition
Understand your competitors before going up against them. The home improvement sector is often a highly crowded commercial space. So, carefully gauge the possibility of carving out a niche for your business. Check whether your value proposition and unique selling points are a match for what’s already available in your target market.
Lacking a Solid Business Plan
Starting any business without a solid plan is like wandering blindly into dangerous waters. A good business plan lays out a clear path to your goals, sets up contingencies around potential obstacles, and puts guardrails to keep the business on track to success.
Ignoring Customer Satisfaction
Praise for home renovation businesses largely spreads through word of mouth and referral from past clients. Therefore, customer satisfaction is a big part of passive marketing. Plus, happy customers are more likely to contract your business again in the future. The rules of customer satisfaction are pretty simple: work on customer service, promise and deliver, and never compromise quality.
Doing Everything Yourself
A contractor business doesn’t have to be a one-man show. Besides, you surely can’t expect to juggle every aspect of the business yourself. Don’t hesitate to seek wise counsel, outside financing, subcontractors, and labor whenever you need it. Surround yourself with people and resources that support your enterprise.
Setting the Wrong Price
Writing price estimates for home renovation services is a delicate balancing act between competing and profiting. The trick is to set a price that not only best represents the value of your services but also fairs well against competitors’ benchmarks.
Poor Project Management
Develop an efficient project management strategy that prevents delays, cost overruns, and poor-quality delivery even when handling multiple projects at a time. Also, accept only the projects you’re sure can be completed in time and within budget.
Focusing on Rapid Growth
This may seem counterintuitive, but rapid growth can lead to all sorts of problems. Expanding too fast can deplete your cash reserve faster than the business can replenish it and introduce sudden risks, choices, or opportunities you were not prepared to handle. Aim for homogenous and organic growth that’s more sustainable and manageable.
Running your own home renovation business can be rewarding and liberating. However, these rewards and freedom come with great responsibility. It takes a lot just to start a business, let alone run it for years and years. But although it may be challenging, it becomes easier once you break everything down and take it one step at a time.
Once you’re ready to get started, use this guide for help and let Joist save you time, win more jobs, and get paid faster with quicker remodeling estimates , professional invoices, and payment tracking.
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How to write a business plan for your home renovation company.
Starting a home renovation company is a great idea as it allows you to offer professional renovation services to homeowners, updating and refreshing the look of their homes.
It also provides an opportunity to increase the value of their homes, making it a great investment for them in the long run.
However, prior to launching your home renovation company, you must have a comprehensive business plan.
Creating a business plan before starting a home renovation company can help ensure that your venture is successful by providing a clear outline of your company's goals, budget, timeline, and resources needed. Additionally, it can help identify potential risks and ensure that your projects are completed within the allocated budget.
In short, a good business plan will help ensure the profitability of your home renovation company .
What should be included in the business plan of a home renovation company? What's the ideal arrangement for the structure? What metrics should be considered for the financial assessment? What strategies can I use to expedite the creation of a comprehensive business plan?
The article you're reading will cover all these questions and provide answers!
One last thing: starting your business plan from scratch is not required.
Instead, you can download our business plan for a home renovation company and adapt it to suit your business needs.
Preparing a business plan for a home renovation company
Do you require a business plan for your home renovation company.
Yes, you need a business plan for your home renovation company.
Establishing a strong business plan will afford you the chance to:
- get familiar with the home renovation market
- grasp the pulse of the industry's new trends
- highlight what makes a home renovation company viable
- understand homeowners' renovation goals and design preferences to create personalized and stunning living spaces
- find a unique value proposition for your house remodeling endeavors
- examine competitor market share
- identify strategic advantages for your home renovation company
- find a business model that will make you profitable
- design and implement a robust and strategic action plan for business advancement
- identify and manage risks specific to a home renovation company, including construction delays, budget overruns, and contractor reliability
- establish the solid business case of your company
Our team has created a business plan for a home renovation company that is designed to make it easier for you to achieve all the elements listed.
How to organize a business plan for a home renovation company?
A business plan includes a wide array of relevant data and metrics. It must be presented in a structured format, to make it easy to read and digest.
When we designed our business plan for a home renovation company , we made sure to set it up correctly.
The structure is divided into 5 sections: Opportunity, Project, Market Research, Strategy, and Finances.
1. Market Opportunity
The opening section is referred to as "Market Opportunity."
Discover important data and figures about the home renovation market in this section, helping you understand market trends and consumer preferences.
We keep this section updated to ensure fresh data.
2. Project Presentation
In the "Project" section, you can present your home renovation company, describing the types of renovations you specialize in (e.g., kitchen, bathroom, whole-house), design and remodeling expertise, quality materials, project management, client collaboration, and the unique value proposition that transforms houses into dream homes with functional and aesthetic enhancements.
At the end of this section, provide a brief introduction about yourself and your expertise in home renovations.
Explain your commitment to transforming living spaces, your range of renovation services, and how you plan to provide exceptional home renovation solutions to clients. Highlight your attention to detail, your skilled team of contractors, and your dedication to delivering beautiful and functional homes that exceed clients' expectations through your home renovation company.
Our business plan has written material. Adapt it to suit your concept precisely.
3. Market Research
Then, we reach the "Market Research" section.
This section describes the target audience for your home renovation company.
It includes a comprehensive analysis of competitors in the home renovation industry and emphasizes your company's unique renovation services and competitive advantages.
A tailored SWOT analysis is provided as well.
Within the "Strategy" section, a 3-year development plan is outlined, specifying the necessary initiatives to make your home renovation company highly profitable.
Additionally, you'll find a marketing strategy, a risk management approach, and a Business Model Canvas tailored to a home renovation company in this section.
Finally, you'll arrive at the "Finances" section, which presents the financial metrics and calculations for your company.
How to make the Executive Summary for a home renovation company?
The Executive Summary provides a condensed preview of the business plan of your home renovation company.
Keep it short and clear, with a maximum of 2 pages. Focus on the key aspects.
The purpose of this document is to make the reader want to read your business plan.
In the Executive Summary of your home renovation company, provide answers to these questions: what is your company about? who is your target market? are there other home renovation companies in the area? what funding do you require ?
How to do the market analysis for a home renovation company?
The market study of your home renovation company helps you understand external factors such as homeowner demands for remodeling services, competition within the construction industry, and emerging trends in home improvement.
By conducting a thorough market study, a home renovation company can understand homeowner preferences, offer professional renovation services, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a loyal customer base, increased project contracts, and a prominent position in the local home renovation industry.
Here is what we've put in the "Market Research" section of our business plan for a home renovation company :
- interesting data points and market insights about home renovation projects, including popular remodeling trends, home improvement costs, and ROI
- a list of potential audiences for a home renovation company
- the competitive analysis
- the competitive advantages to target for a home renovation company
- the SWOT analysis for a home renovation company
The key points of the business plan for a home renovation company
What's the business model of a home renovation company, business model of a home renovation company.
A home renovation company involves improving or remodeling existing residential properties. The business model can vary depending on the scope and scale of the projects undertaken. Revenue is generated through project contracts or fees charged based on the complexity of renovations and materials used.
The business model focuses on assessing client needs, providing design and construction expertise, sourcing quality materials, managing project timelines and budgets, and ensuring client satisfaction with the completed renovations. Success depends on building a strong reputation, establishing relationships with suppliers and subcontractors, delivering high-quality work, and effective project management.
Business model vs Business plan
Please don't mix up the terms "business plan" and "business model."
A business model is a blueprint for how a company operates and makes money.
In a business plan, you articulate your business model through a framework known as the Business Model Canvas.
Rest assured, there is a Business Model Canvas (already completed) in our business plan for a home renovation company .
How do you identify the market segments of a home renovation company?
Segmenting the market for your home renovation company involves dividing your potential customers into different groups based on their renovation needs, project scope, and preferences.
These categories may include factors such as kitchen renovations, bathroom renovations, full house remodeling, or customers seeking specific design styles or features (e.g., eco-friendly, smart home technology).
By segmenting your market, you can offer a range of renovation services and solutions that cater to each segment's specific requirements. For example, you might specialize in kitchen renovations and offer design and installation services for customers looking to transform their kitchen space, provide bathroom remodeling solutions that cater to different design preferences and functional needs, offer comprehensive services for customers seeking full house renovations or additions, or focus on incorporating eco-friendly and sustainable features or smart home technology into renovation projects.
Market segmentation allows you to effectively target your marketing efforts, showcase your expertise in specific renovation areas, and deliver personalized and high-quality renovation experiences that meet the unique needs and preferences of each customer segment.
In the business plan for a home renovation company , you will find a complete market segmentation that allows you to identify your potential customers effectively.
How to conduct a competitor analysis for a home renovation company?
Undoubtedly, you won't be the only home renovation company in your market. There are other contractors and companies offering renovation services to homeowners.
Include a thorough evaluation of your competitors' strengths and weaknesses in your business plan to gain an edge.
Recognize their weaknesses (such as poor project planning, inadequate contractor management, or limited construction expertise).
Why should you focus on these elements? Well, these weaknesses can hinder the success of home renovation projects. By addressing these aspects, you can offer comprehensive renovation services, provide skilled contractors and designers, and deliver quality workmanship and timely project completion, establishing your home renovation company as a trusted and preferred choice for transforming and enhancing living spaces.
It's what we call competitive advantages—focus on nurturing them to gain a competitive edge.
Here are some examples of competitive advantages for a home renovation company: innovative and creative designs, efficient project management, skilled and reliable contractors, quality materials and finishes, personalized customer service, positive client reviews and satisfaction, on-time and on-budget completion.
You will find all these elements in our business plan for a home renovation company .
How to draft a SWOT analysis for a home improvement company?
A SWOT analysis can help identify internal strengths and weaknesses, as well as external opportunities and threats, to create a plan for successful home renovation.
As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a home renovation company .
The strengths for a home renovation company
S represents Strengths in SWOT, referring to the company's internal factors that contribute to its positive performance.
For a home renovation company, potential strengths could include budgeting, organization, communication, and problem-solving.
The weaknesses for a home renovation company
When we use the "W," we mean Weaknesses, which are the areas or aspects of the company that can be improved.
For a home renovation company, potential weaknesses could include inadequate budgeting, lack of skilled labor, inadequate materials, and poor communication.
The opportunities for a home renovation company
When we refer to the "O" in SWOT, we mean Opportunities, which are the external chances or possibilities for the company's success.
In the case of a home renovation company, potential opportunities could include replacing outdated appliances, remodeling a kitchen or bathroom, adding a deck or patio, and installing new flooring.
The threats for a home renovation company
The letter "T" in SWOT signifies Threats, highlighting the potential roadblocks or harmful factors that the company needs to consider.
When it comes to a home renovation company, potential threats could include budget overruns, delays in construction, unsatisfactory workmanship, and unexpected costs.
How to elaborate a marketing strategy for a home improvement company?
Creating a marketing strategy allows entrepreneurs to identify their unique selling points and communicate them effectively to their target audience.
A home improvement company can connect with homeowners in need of renovation or remodeling services by developing an effective marketing approach that showcases the company's expertise in various home improvement projects, high-quality craftsmanship, and satisfied customer testimonials.
Homeowners won't choose your home improvement company without effective marketing; showcasing your expertise in renovations, quality craftsmanship, and customer satisfaction is necessary.
Have you considered implementing creative marketing initiatives for your home improvement company? Organize home renovation seminars or DIY workshops, showcase before-and-after transformations on your website or social media, and partner with local home decor or hardware stores for cross-promotion.
Don't stress if you're not naturally inclined towards marketing and communication.
Actually, there is an exhaustive marketing strategy, tailored to the industry, in our business plan for a home renovation company .
How to build a solid financial plan for a home improvement company?
A solid business plan must include financial data to provide an accurate assessment of the company's potential success.
When constructing your business plan, it is crucial to incorporate revenue projections for your home renovation company.
The revenue forecast needs to be coherent and easily understandable.
Our financial plan for a home renovation company is straightforward and equipped with automated checks, enabling you to validate and adjust your assumptions easily. This way, we make sure you're building solid financial projections.
Without a doubt, you'll need to come up with a basic budget for starting your home renovation company. Make certain to include all expenses without exception - you can find them all listed in our financial plan!
The break-even analysis is an essential component of your financial plan, as it provides an indication of whether your home renovation company will be profitable or not.
Make this exercise 10x easier by using our financial plan for a home renovation company .
- Choosing a selection results in a full page refresh.
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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:
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.
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
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.
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.
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.
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
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.
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:
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.
Demographic profile of target market.
The precise demographics for Milwaukee, Wisconsin are:
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
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 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.
VB Residential Construction Company will be able to offer the following advantages over their competition:
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.
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.
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.
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.
The following will be the operations plan for VB Residential Construction Company.
- 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.
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.
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:
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%
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.
Other Business Plan Templates
Food Truck Business Plan Template
Event Venue Business Plan Template
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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Construction Company Business Plan
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.
- 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.
A brief summary of an entire business plan that will encourage the readers to read further.
A brief company description including every detail from company structure to its mission statement and future goals.
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.
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.
Introduce key personnel in managerial and leadership roles. Discuss their roles, qualifications, experience, and expertise.
A detailed plan that streamlines the everyday operations right from construction methods to hiring employees.
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.
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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.
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.
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
- 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.
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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
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 facade renovation company?
Creating a business plan for a facade renovation company is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.
This guide is designed to provide you with the tools and knowledge necessary for creating a facade renovation company business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.
We have a lot to cover, so let's get to it!
In this guide:
Why write a business plan for a facade renovation company?
- What information is needed to create a business plan for a facade renovation company?
- What goes in the financial forecast for a facade renovation company?
- What goes in the written part of a facade renovation company business plan?
- What tool can I use to write my facade renovation company business plan?
Understanding the document's scope and goals will help you easily grasp its structure and content. Before diving into the specifics of the plan, let's take a moment to explore the key reasons why having a facade renovation company business plan is so crucial.
To have a clear roadmap to grow the business
Small businesses rarely experience a constant and predictable environment. Economic cycles go up and down, while the business landscape is mutating constantly with new regulations, technologies, competitors, and consumer behaviours emerging when we least expect it.
In this dynamic context, it's essential to have a clear roadmap for your facade renovation company. Otherwise, you are navigating in the dark which is dangerous given that - as a business owner - your capital is at risk.
That's why crafting a well-thought-out business plan is crucial to ensure the long-term success and sustainability of your venture.
To create an effective business plan, you'll need to take a step-by-step approach. First, you'll have to assess your current position (if you're already in business), and then identify where you'd like your facade renovation company to be in the next three to five years.
Once you have a clear destination for your facade renovation company, you'll focus on three key areas:
- Resources: you'll determine the human, equipment, and capital resources needed to reach your goals successfully.
- Speed: you'll establish the optimal pace at which your business needs to grow if it is to meet its objectives within the desired timeframe.
- Risks: you'll identify and address potential risks you might encounter along the way.
By going through this process regularly, you'll be able to make informed decisions about resource allocation, paving the way for the long-term success of your business.
To maintain visibility on future cash flows
Businesses can go for years without making a profit, but they go bust as soon as they run out of cash. That's why "cash is king", and maintaining visibility on your facade renovation company's future cash flows is critical.
How do I do that? That's simple: you need an up-to-date financial forecast.
The good news is that your facade renovation company business plan already contains a financial forecast (more on that later in this guide), so all you have to do is to keep it up-to-date.
To do this, you need to regularly compare the actual financial performance of your business to what was planned in your financial forecast, and adjust the forecast based on the current trajectory of your business.
Monitoring your facade renovation company's financial health will enable you to identify potential financial problems (such as an unexpected cash shortfall) early and to put in place corrective measures. It will also allow you to detect and capitalize on potential growth opportunities (higher demand from a given segment of customers for example).
To secure financing
Whether you are a startup or an existing business, writing a detailed facade renovation company business plan is essential when seeking financing from banks or investors.
This makes sense given what we've just seen: financiers want to ensure you have a clear roadmap and visibility on your future cash flows.
Banks will use the information included in the plan to assess your borrowing capacity (how much debt your business can support) and your ability to repay the loan before deciding whether they will extend credit to your business and on what terms.
Similarly, investors will review your plan carefully to assess if their investment can generate an attractive return on investment.
To do so, they will be looking for evidence that your facade renovation company has the potential for healthy growth, profitability, and cash flow generation over time.
Now that you understand why it is important to create a business plan for a facade renovation company, let's take a look at what information is needed to create one.
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Information needed to create a business plan for a facade renovation company
Drafting a facade renovation company business plan requires research so that you can project sales, investments and cost accurately in your financial forecast, and convince the reader that there is a viable commercial opportunity to be seized.
Below, we'll focus on three critical pieces of information you should gather before starting to write your plan.
Carrying out market research for a facade renovation company
As you consider writing your business plan for a facade renovation company, conducting market research becomes a vital step to ensure accurate and realistic financial projections.
Market research provides valuable insights into your target customer base, competitors, pricing strategies, and other key factors that can significantly impact the commercial success of your business.
Through this research, you may uncover trends that could influence your facade renovation company.
You might find that people may be more likely to choose a more modern, contemporary design for their facade renovation projects. Additionally, you could discover that homeowners may be more willing to invest in higher-end materials for their renovations, in order to ensure a lasting, durable result.
Such market trends play a significant role in forecasting revenue, as they offer valuable data about potential customers' spending habits and preferences.
By incorporating these findings into your financial projections, you can present investors with more accurate information, helping them make informed decisions about investing in your facade renovation company.
Developing the sales and marketing plan for a facade renovation company
As you embark on creating your facade renovation company business plan, it is crucial to budget sales and marketing expenses beforehand.
A well-defined sales and marketing plan should include precise projections of the actions required to acquire and retain customers. It will also outline the necessary workforce to execute these initiatives and the budget required for promotions, advertising, and other marketing efforts.
This approach ensures that the appropriate amount of resources is allocated to these activities, aligning with the sales and growth objectives outlined in your business plan.
The staffing and equipment needs of a facade renovation company
Whether you are at the beginning stages of your facade renovation company or expanding its horizons, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is vital to ensure your business's success.
To achieve this, both the recruitment and investment plans must align coherently with the projected timing and level of growth in your forecast. It is essential to secure appropriate funding for these plans.
A facade renovation company might incur staffing costs for their team of professional painters, carpenters, and masons, as well as the cost of purchasing the necessary tools and equipment such as paint brushes, sanders, and ladders. They may also need to rent or purchase specialized tools, such as pressure washers and scaffolding, to complete the job. In addition, the company may need to purchase or lease vehicles to transport workers and materials to the job site.
To create a financial forecast that accurately represents your business's outlook, remember to factor in other day-to-day operating expenses.
Now that you have all the necessary information, it's time to dive in and start creating your business plan and developing the financial forecast for your facade renovation company.
What goes into your facade renovation company's financial forecast?
The financial forecast of your facade renovation company's business plan will enable you to assess the growth, profitability, funding requirements, and cash generation potential of your business in the coming years.
The four key outputs of a financial forecast for a facade renovation company are:
- The profit and loss (P&L) statement ,
- The projected balance sheet ,
- The cash flow forecast ,
- And the sources and uses table .
Let's look at each of these in a bit more detail.
The projected P&L statement
The projected P&L statement for a facade renovation company shows how much revenue and profit your business is expected to make in the future.
A healthy facade renovation company's P&L statement should show:
- Sales growing at (minimum) or above (better) inflation
- Stable (minimum) or expanding (better) profit margins
- A healthy level of net profitability
This will of course depend on the stage of your business: numbers for a startup will look different than for an established facade renovation company.
The projected balance sheet of your facade renovation company
Your facade renovation company's forecasted balance sheet enables the reader of your plan to assess your financial structure, working capital, and investment policy.
It is composed of three types of elements: assets, liabilities and equity:
- Assets: represent what the business owns and uses to produce cash flows. It includes resources such as cash, equipment, and accounts receivable (money owed by clients).
- Liabilities: represent funds advanced to the business by lenders and other creditors. It includes items such as accounts payable (money owed to suppliers), taxes due and loans.
- Equity: is the combination of what has been invested by the business owners and the cumulative profits and losses generated by the business to date (which are called retained earnings). Equity is a proxy for the value of the owner's stake in the business.
Your facade renovation company's balance sheet will usually be analyzed in conjunction with the other financial statements included in your forecast.
Two key points of focus will be:
- Your facade renovation company's liquidity: does your business have sufficient cash and short-term assets to pay what it owes over the next 12 months?
- And its solvency: does your business have the capacity to repay its debt over the medium-term?
The cash flow forecast
A projected cash flow statement for a facade renovation company is used to show how much cash the business is generating or consuming.
The cash flow forecast is usually organized by nature to show three key metrics:
- The operating cash flow: do the core business activities generate or consume cash?
- The investing cash flow: how much is the business investing in long-term assets (this is usually compared to the level of fixed assets on the balance sheet to assess whether the business is regularly maintaining and renewing its equipment)?
- The financing cash flow: is the business raising new financing or repaying financiers (debt repayment, dividends)?
As we discussed earlier, cash is king and keeping an eye on future cash flows an imperative for running a successful business. Therefore, you can expect the reader of your facade renovation company business plan to pay close attention to your cash flow forecast.
Also, note that it is customary to provide both yearly and monthly cash flow forecasts in a business plan - so that the reader can analyze seasonal variation and ensure the facade renovation company is appropriately funded.
The initial financing plan
The initial financing plan - also called a sources and uses table - is an important tool when starting a facade renovation company.
It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).
Having this table helps understand what costs are involved in setting up the facade renovation company, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).
Now that the financial forecast of a facade renovation company business plan is understood, let's focus on what goes into the written part of the plan.
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The written part of a facade renovation company business plan
The written part of the business plan is where you will explain what your business does and how it operates, what your target market is, whom you compete against, and what strategy you will put in place to seize the commercial opportunity you've identified.
Having this context is key for the reader to form a view on whether or not they believe that your plan is achievable and the numbers in your forecast realistic.
The written part of a facade renovation company business plan is composed of 7 main sections:
- The executive summary
- The presentation of the company
- The products and services
- The market analysis
- The strategy
- The operations
- The financial plan
Let's go through the content of each section in more detail!
1. The executive summary
The first section of your facade renovation company's business plan is the executive summary which provides, as its name suggests, an enticing summary of your plan which should hook the reader and make them want to know more about your business.
When writing the executive summary, it is important to provide an overview of the business, the market, the key financials, and what you are asking from the reader.
Start with a brief introduction of the business, its name, concept, location, how long it has been in operation, and what makes it unique. Mention any services or products you plan to offer and who you sell to.
Then you should follow with an overview of the addressable market for your facade renovation company, current trends, and potential growth opportunities.
You should then include a summary of your key financial figures such as projected revenues, profits, and cash flows.
Finally, you should detail any funding requirements in the ask section.
2. The presentation of the company
The second section in your facade renovation company's business plan should focus on the structure and ownership, location, and management team of the company.
The structure and ownership part provides an overview of the legal structure of the business, who the owners are and how much each has invested and owns. If you are seeking financing it is important that the reader gets a clear picture of which legal entity is receiving the funds, and who controls the business.
The location part should give an overview of the premises from which the company is operating, and why that location is of particular interest (catchment area, accessibility, amenities nearby, etc.).
When describing the location of your facade renovation company, you may want to emphasize the potential for growth in the local market. You could point out that the area is located near an expanding population center, with a strong economy and favorable business environment. You might highlight the proximity to other successful businesses, as well as the availability of skilled workers. Additionally, you could mention the access to transportation networks, which could make it easier for your facade renovation company to expand its reach. By emphasizing the potential for growth, you could make a compelling case to a third party financier.
Finally, you should introduce the management team. Explain each member's role, background, and experience.
It is also important to emphasize any past successes that the members of the management team have achieved, and how long they've been working together, as this will help potential lenders or investors understand why they should trust in their leadership.
3. The products and services section
The products and services section of your business plan should include a detailed description of what your company offers, who are the target customers, and what distribution channels are part of your go-to-market.
For example, your facade renovation company could offer a range of services such as facade painting, repair and maintenance, and insulation installation. Facade painting could help to refresh the exterior of a building, while repair and maintenance could help to fix any existing damage. Insulation installation could help to keep a building warm and reduce energy bills. These services could help to restore the aesthetics of a building, while also making it more energy-efficient.
4. The market analysis
When presenting your market analysis in your facade renovation company business plan, you should detail the customers' demographics and segmentation, target market, competition, barriers to entry, and any regulations that may apply.
The goal of this section is to help the reader understand how big and attractive your market is, and demonstrate that you have a solid understanding of the industry.
You should start with the demographics and segmentation subsection, which gives an overview of the addressable market for your facade renovation company, the main trends in the marketplace, and introduces the different customer segments and their preferences in terms of purchasing habits and budgets.
The target market section should follow and zoom on the customer segments your facade renovation company is targeting, and explain how your products and services meet the specific needs of these customers.
For example, your target market might include homeowners who live in established neighborhoods who are looking to update their homes. These homeowners are more likely to have the funds available to invest in a full renovation, and they are more likely to be looking for a high-end, quality product. They may want to increase the value of their homes, or just want to make an aesthetic improvement to their property.
Then comes the competition subsection, where you should introduce your main competitors and explain what differentiates you from them.
Finally, you should finish your market analysis by giving an overview of the main regulations applicable to your facade renovation company.
5. The strategy section
When you write the strategy section of your facade renovation company business plan, remember to cover key elements such as your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.
In the competitive edge subsection, elaborate on what makes your company stand out from competitors. This becomes especially important if you're a startup, aiming to carve a place for yourself amidst established players in the marketplace.
The pricing strategy subsection should demonstrate how you plan to maintain profitability while offering competitive prices to attract customers.
Outline your sales & marketing plan, detailing how you'll reach out to new customers and retain existing ones through loyalty programs or special offers.
For the milestones subsection, outline your company's achievements to date and your main objectives for the future, complete with specific dates to set clear expectations for progress.
Lastly, the risks and mitigants subsection should address the main risks that could affect your plan's execution. Explain the measures you've put in place to minimize these risks, assuring potential investors or lenders.
Your facade renovation company faces many risks, including those related to safety and financial loss. Safety risks may include potential hazards to workers on the job site, such as falling objects or slips and falls. Financial loss could occur due to a failure to complete the job in the agreed-upon timeframe, or due to a failure to meet the agreed-upon quality standards. These risks could lead to a loss of reputation and decreased revenue if not managed properly.
6. The operations section
The operations of your facade renovation company must be presented in detail in your business plan.
The first thing you should cover in this section is your staffing team, the main roles, and the overall recruitment plan to support the growth expected in your business plan. You should also outline the qualifications and experience necessary to fulfil each role, and how you intend to recruit (using job boards, referrals, or headhunters).
You should then state the operating hours of your facade renovation company - so that the reader can check the adequacy of your staffing levels - and any plans for varying opening times during peak season. Additionally, the plan should include details on how you will handle customer queries outside of normal operating hours.
The next part of this section should focus on the key assets and IP required to operate your business. If you depend on any licenses or trademarks, physical structures (equipment or property) or lease agreements, these should all go in there.
You may have key assets such as design plans and tools for the facade renovation process. Additionally, you might have intellectual property such as the company logo and process patents. These two assets could be integral to the success and growth of your facade renovation business.
Finally, you should include a list of suppliers that you plan to work with and a breakdown of their services and main commercial terms (price, payment terms, contract duration, etc.). Investors are always keen to know if there is a particular reason why you have chosen to work with a specific supplier (higher-quality products or past relationships for example).
7. The presentation of the financial plan
The financial plan section is where we will include the financial forecast we talked about earlier in this guide.
Now that you have a clear idea of the content of a facade renovation company business plan, let's look at some of the tools you can use to create yours.
What tool should I use to write my facade renovation company's business plan?
In this section, we will be reviewing the two main solutions for creating a facade renovation company business plan:
- Using specialized online business plan software,
- Outsourcing the plan to the business plan writer.
Using an online business plan software for your facade renovation company's business plan
The modern and most efficient way to write a facade renovation company business plan is to use business plan software .
There are several advantages to using specialized software:
- You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
- You are guided through the writing process by detailed instructions and examples for each part of the plan
- You can access a library of dozens of complete business plan samples and templates for inspiration
- You get a professional business plan, formatted and ready to be sent to your bank or investors
- You can easily track your actual financial performance against your financial forecast
- You can create scenarios to stress test your forecast's main assumptions
- You can easily update your forecast as time goes by to maintain visibility on future cash flows
- You have a friendly support team on standby to assist you when you are stuck
If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .
Hiring a business plan writer to write your facade renovation company's business plan
Outsourcing your facade renovation company business plan to a business plan writer can also be a viable option.
Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.
However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.
From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).
You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.
The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.
For these reasons, outsourcing the facade renovation company business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.
Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.
Why not create your facade renovation company's business plan using Word or Excel?
I must advise against using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write your facade renovation company business plan. Let me explain why.
Firstly, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is highly technical and requires a strong grasp of accounting principles and financial modelling skills. It is, therefore, unlikely that anyone will fully trust your numbers unless you have both a degree in finance and accounting and significant financial modelling experience, like us at The Business Plan Shop.
Secondly, relying on spreadsheets is inefficient. While it may have been the only option in the past, technology has advanced significantly, and software can now perform these tasks much faster and with greater accuracy. With the rise of AI, software can even help us detect mistakes in forecasts and analyze the numbers for better decision-making.
And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.
Moreover, software makes it easier to compare actuals versus forecasts and maintain up-to-date forecasts to keep visibility on future cash flows, as we discussed earlier in this guide. This task is cumbersome when using spreadsheets.
Now, let's talk about the written part of your facade renovation company business plan. While it may be less error-prone, using software can bring tremendous gains in productivity. Word processors, for example, lack instructions and examples for each part of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they don't handle formatting for you.
Overall, while Word or Excel may seem viable for some entrepreneurs to create a business plan, it's by far becoming an antiquated way of doing things.
- Having an up-to-date business plan is key to maintaining visibility on your future cash flows.
- A business plan has 2 parts: a financial forecast highlighting the expected growth, profitability and cash generation of the business; and a written part which provides the context needed to interpret and assess the quality of the forecast.
- Using business plan software is the modern way of writing and maintaining business plans.
We hope that this guide helped you to better understand how to write the business plan for a facade renovation company. If you still have questions, do not hesitate to contact us.
Also on The Business Plan Shop
- How to write a 5 years business plan
- Business plan myths
Know someone who owns or wants to start a facade renovation company? Share this article with them!
Founder & CEO at The Business Plan Shop Ltd
Guillaume Le Brouster is a seasoned entrepreneur and financier.
Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.
Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.
Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.
Published on 28 Sep 2023 , last update on 28 Sep 2023 , as per our editorial standards .
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5 Tips to Write a Successful Business Plan
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Whether you’re a seasoned business owner or a new entrepreneur, a business plan is crucial to the success and growth of your business, but it can feel like an overwhelming task.
A business plan should act as a “compass,” according to Danielle Langton, a business strategist and coach based in Austin, Texas. It can help you maintain focus as you navigate the market, silence internal and external distractions, and secure business financing .
A well-written business plan will also create confidence, clarity, direction and alignment for a business owner and their team. To help you navigate the process, two business advisors share their best tips for writing a business plan.
1. Think big picture
Rather than diving into a 60-page business plan template, start by conceptualizing your business, recommends Oren Shani, a certified business advisor at Accion Opportunity Fund, a nonprofit community development financial institution based in California.
For new businesses, that means thinking about what differentiating value you bring to the market and how to turn that value into revenue, says Shani. For operating businesses, Langton says, it means understanding what worked the previous year and what didn’t.
Once you have this “bird’s-eye view,” you can more easily narrow down your action steps, which will vary based on your business, says Shani. “A lot of businesses find that they don’t need that 60-pager,” he says, noting that some businesses really only need a one-page mini-plan, or “lean plan.”
2. Factor in your lifestyle
Langton’s main advice to her clients is to prioritize the balance between business and their personal lives. Understanding and outlining your priorities outside of the business gives you clarity on how you can spend time with your business, which can ultimately make you a more efficient and effective business owner. “As you are creating a living,” she asks her clients, “are you actually also enjoying the life that it is providing, or are you just so focused on the revenue?”
To create this clarity, she recommends starting with your “nonnegotiables,” or things that you aren’t willing to sacrifice in your daily life to run your business. From there, you can build what your ideal week looks like and work your business schedule around that.
3. Make the time
As for actually sitting down to write your business plan , consider both your schedule and how you work best. For those who prefer to focus on one task at a time, Langton suggests setting aside a week, even blocking the time on your calendar if you’re having trouble making it a priority. Consider a change of scenery to clear any mental blocks or provide extra inspiration.
However, if feeling overwhelmed has kept you from starting in the first place, Shani advises against compartmentalizing. Getting something on paper, even if it’s just a bulleted list to start, is more effective than waiting for a free day with no distractions, he says. Plus, working on your business plan while running your business can provide benefits too, as real-time analysis can enhance your strategy as you go.
Langton adds that perfectionism and business plans don’t go hand in hand, especially for new business owners.
4. Embrace the living business plan
Whether you’re a new business owner or 20-year veteran, a business plan is never truly done, according to both Shani and Langton. As your understanding of your business, the market, and your customer base changes and adapts, so should your business plan.
The lengthiest part of the business plan process is the learning, rather than actually getting it on paper, says Shani. Every time a sale is made or not made, for instance, a business owner should seek to understand why or why not. This will help them identify their customers’ purchasing behaviors and how their customers engage with the business’s brand and products.
For some business owners, a monthly or quarterly cadence to check in, reprioritize and shed the things that aren’t working may make the most sense. Others may find it more useful to revisit their plan when there are new insights or significant changes to the market, such as new regulations, nearby real estate developments or fresh competitors, says Shani.
5. Leverage your busy season
For business owners expecting an upcoming holiday rush , this can be good news for your business plan, in addition to your bottom line. Leaning in during your busy season can be one of the best ways to collect data about your business, and capitalizing on that information at the end of the year can set you up well for the next, says Langton.
Not everything has to be buttoned up by the first of the year, but making observations and mental notes now will set you up to make meaningful updates to your business plan in January, she says.
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An Effective Business Plan Can Plot the Course for Small Business Success
December is National Write a Business Plan Month. The SBA encourages you to mark the occasion by learning how to put together an efficient, high-quality plan that will increase your chances of small business success in the year ahead.
You wouldn’t try to find a new destination without mapping the route first. By the same logic, you don’t want to start a business without a plan to guide your path. A business plan can help you navigate all the roadblocks that come with getting your business up and running.
Which Type of Business Plan Should You Choose?
While some business plans may be more effective than others, there’s technically no wrong way to write one. Every business is different, and the type of plan you choose should ultimately boil down to your unique needs and goals. The two most common types of business plans are traditional and lean startup.
A traditional business plan might be right for you if:
- You’re detail-oriented.
- You want a comprehensive plan.
- You plan to request financing from traditional sources.
A traditional business plan is a great way to show you’ve done your homework, which is why it’s the preferred method of many lenders and investors. While a traditional plan may take more time to write, the extra effort is worth it in the long run. The more thorough you are, the better you’ll be able to answer questions about what your company is, how it will stack up to competitors, and why it will be a financial success. You don’t have to stick to a set structure, but the following nine sections should be included in a traditional business plan: executive summary and company description; market analysis; organization and management structure; service or product line description; marketing and sales strategy; and funding requests and financial projections.
A lean startup plan might be right for you if:
- You want to explain or start your business quickly.
- Your business is relatively simple.
- You plan to regularly change and refine your business plan.
The lean startup format is ideal for entrepreneurs who want to keep things high-level and adaptable. At their core, lean startup plans focus on only the most important details — making them a viable streamlined alternative. Lean startup business plans can take as little as an hour to write and are typically only one page. By sticking to the following basics, expressed through visual tradeoffs and fundamental facts, you leave a lot of room to fill in the blanks later: partnerships, activities, and resources; value propositions; customer experience, target market, and channels; and cost structure and potential revenue streams.
Regardless of which route you choose, the SBA is here to help. Our Business Planning Guide is easy to use and contains templates you can follow. Our “How to Write a Business Plan” course, offered through the SBA Learning Center, will show you how to plan, outline, and develop your own business plan. Of course, if you prefer a more hands-on option, an SBA resource partner is standing by. Learn more at sba.gov .
About the author
U.s. small business administration.
Comment construire le business plan d'une entreprise de rénovation ?
Le démarrage d'une activité de rénovation représente une idée d'entreprise qui donne envie à certains individus. Toutefois, il est important de commencer par la rédaction d'un bon business plan. Ce document offre l'occasion d'élaborer une stratégie de développement pour votre entreprise de rénovation. Il permet de réfléchir, par exemple, au budget, au business model, aux estimations de revenus, aux tendances du secteur et aux bénéfices futurs de votre activité de rénovation. Aussi, le business plan de votre entreprise de rénovation constitue un outil sérieux dans le cadre d'une demande de financement auprès d'un investisseur. Que faut-il inclure dans le business plan d'une entreprise de rénovation ? Quelles sont les différentes parties du business plan ? Comment estimer le chiffre d'affaires de votre entreprise de rénovation ? Quels sont les ratios comptables à analyser dans ce document ? Comment analyser le seuil de rentabilité d'une entreprise de rénovation ? Cet article répond à ces questions. Enfin, sachez que, avec le soutien de notre équipe d’experts, le marché est constamment surveillé et étudié. Des données sont collectées, étudiées et résumées. N’attendez plus et téléchargez le pack complet pour créer une entreprise de rénovation (business plan, étude de marché, prévisionnel financier et executive summary) pour profiter de tous ces avantages.
La rédaction du business plan d’une entreprise de rénovation
Faut-il rédiger un business plan pour une entreprise de rénovation .
L'établissement d'un business plan pour votre entreprise de rénovation donne la possibilité de : - identifier les derniers chiffres concernant le marché de la rénovation - synthétiser les changements survenus dans le secteur - présenter les facteurs de réussite d'une entreprise de rénovation - identifier vos segments de marché ainsi que leurs attentes - réfléchir à une proposition de valeur pour votre activité de rénovation - analyser les entreprises de rénovation concurrentes - réfléchir à des avantages concurrentiels pour le projet - présenter, à travers d'un canevas, le modèle économique de votre projet - élaborer un plan de développement sur le long terme (en plusieurs étapes) - étudier les risques liés à la gestion d'une entreprise de rénovation - prouver la future rentabilité de votre projet à une institution bancaire Nos analystes ont veillé à mettre sur pied un business plan pour une entreprise de rénovation , qui respecte l'ensemble de ces finalités.
Que retrouve-t-on dans le business plan d'une entreprise de rénovation ?
Un business plan présente un nombre important d'informations, de variables et d'analyses. Toutefois, il est impératif de bien les regrouper afin d'avoir un plan d'affaires propre et carré. C'est ce que nous avons fait dans notre business plan pour une entreprise de rénovation , qui se divise en cinq parties distinctes. La première partie est celle qui fait référence à l' “Opportunité de Marché” . Dans cette partie, on va présenter les chiffres et les analyses du marché de la rénovation. Ces données sont mises à jour régulièrement. Cette partie du business plan permet aussi de présenter les dernières avancées notables (par exemple : portes et fenêtres high-tech, plans de rénovation 3D, rénovation écologique, rénovation clé en main ou encore devis en ligne automatique et gratuit). Pour finir, on liste les critères qui permettent à un projet de rénovation d'être couronné de succès. La seconde partie concerne la “Présentation de l'Entreprise” . Elle permet de présenter les contours de votre entreprise de rénovation (Quelle est la zone d'intervention de l'entreprise ? Quels sont les délais de réalisation ? Quelles sont les spécialités de l'entreprise de rénovation ? etc.). Cette partie évoque aussi la proposition de valeur d'une entreprise de rénovation. Finalement, on y trouve la présentation du porteur de projet (la personne qui a fait naître cette aventure entrepreneuriale). Vient ensuite la partie appelée “Étude de Marché” , qui permet d'identifier les segments de marché de votre entreprise de rénovation. On y présente également les concurrents à travers une analyse concurrentielle. Cette partie comprend un SWOT, un outil permettant d'identifier les forces et les faiblesses de votre entreprise de rénovation, tout en révélant les opportunités et les menaces de l'environnement. La partie que nous appelons “Stratégie” , va, elle, nous permettre de dévoiler une stratégie contenant des mesures qui permettront à votre entreprise de devenir rentable. On y présente, entre autres, un plan marketing qui donnera lieu à une croissance du chiffre d'affaires. Enfin, le business plan se conclut par une partie “Finances” , qui permet de dévoiler la stratégie financière détaillée de votre entreprise de rénovation.
Comment rédiger l'Executive Summary d'une entreprise de rénovation ?
Afin de réussir l'Executive Summary (aussi appelé "résumé exécutif") de votre entreprise de rénovation, il faut respecter certains points. Premièrement, ce document devra être court, deux pages maximum. En réalité, il est l'introduction du business plan de votre entreprise de rénovation. De plus, il doit être pédagogique, c'est-à-dire qu'il doit permettre de convaincre son lecteur que votre activité de rénovation constitue un projet d'entreprise maîtrisé. Evitez les fautes de syntaxe et indiquez les atouts de votre projet (par exemple : présence d'un portfolio de vos réalisations sur votre site web, détention du certificat RGE, formule clé en main ou encore présence d'un dispositif de demande de devis gratuit en ligne). Votre Executive Summary doit respecter une certaine structure. Vous pouvez vous inspirer de celle de notre business plan adapté à une entreprise de rénovation , présentée plus haut dans l'article.
Comment établir l'étude de marché d'une entreprise de rénovation ?
L'étude de marché de votre entreprise de rénovation permet d'appréhender des facteurs extérieurs à votre projet d'entreprise, tels que les indicateurs de marché, les dernières innovations et tendances ou encore les particularités des concurrents. Chaque idée d'entreprise doit commencer par une bonne étude de marché. Comment bien la rédiger ? Il faut, pour cela, synthétiser un certain nombre d'éléments. Voici les éléments présents dans la partie "Étude de Marché" de notre business plan pour une entreprise de rénovation : - les derniers chiffres du marché de la rénovation - les innovations notables dans le secteur - les segments de marché de votre activité de rénovation - l'analyse des entreprises de rénovation concurrentes - des exemples d'avantages compétitifs - la matrice SWOT d'une entreprise de rénovation
Les éléments essentiels du business plan d'une entreprise de rénovation
En quoi consiste le modèle économique d'une entreprise de rénovation .
Le business model, ou modèle économique, d’une entreprise de rénovation consiste à effectuer des travaux de rénovation d’appartements, de maisons ou encore de locaux commerciaux. Une entreprise de rénovation intervient dans la « rénovation partielle » (remplacement, légère réfection, isolation, etc.) et dans la « rénovation complète » d'un bâtiment. Elle peut être spécialisée dans un type de rénovation comme la rénovation énergétique, les travaux de peinture ou encore les installations domotiques. Le modèle de pricing pour une entreprise de rénovation est celui de la facturation au m2 ou encore au tarif de la prestation. Généralement, dans un business plan, on explicite le business model d'un projet à l'aide d'un Business Model Canvas. Ce canevas donne l'opportunité de rapidement appréhender les contours de votre entreprise de rénovation, notamment les circuits de distribution, la structure de coûts, les ressources clés, etc. Notre business plan adapté à une entreprise de rénovation comprend bien un Business Model Canvas adapté à ce type d'activité.
Comment présenter les segments de clientèle d'une entreprise de rénovation ?
La segmentation du marché consiste simplement à séparer une base de clients en groupes d'individus qui partagent des caractéristiques communes. Dans votre cas, il faudra séparer les individus susceptibles de faire appel à vos services de rénovation. Pourquoi segmenter ? Cela permet de structurer la présentation de votre clientèle dans votre business plan. Ensuite, une telle approche vous aidera à atteindre votre cible avec plus d'efficacité (en répartissant l'offre et les messages de votre entreprise de rénovation en fonction des différents groupes par exemple). Les segments de marché possibles pour une entreprise de rénovation sont les propriétaires d'appartements et de maisons, les entreprises qui veulent rénover leurs locaux commerciaux ou encore les personnes qui souhaitent rénover leur terrasse. Dans notre business plan pour une entreprise de rénovation , vous retrouverez une étude des segments de marché complète, modifiable et adaptée à votre activité de rénovation.
Comment élaborer l'étude concurrentielle d'une entreprise de rénovation ?
Vous ne serez pas seul sur le marché de la rénovation. Il y a aussi les entreprises de rénovation concurrentes qui s'adressent aux mêmes clients. Votre business plan doit faire figurer une analyse de ces concurrents. Il faut détailler leurs caractéristiques majeures, ainsi que leurs avantages et leurs inconvénients. Présentez spécifiquement leurs lacunes (par exemple : l'absence d'un module de demande de devis, le non respect des délais de livraison, une offre de prestations limitée, des artisans peu qualifiés ou encore une tarification opaque). Pourquoi se concentrer sur ces points ? Ces éléments produisent certainement de l'insatisfaction chez les différents clients de ces entreprises de rénovation. Exploitez cette situation en créant des avantages concurrentiels pour votre activité de rénovation. Un avantage concurrentiel désigne tout ce qui permet à votre entreprise de rénovation de surpasser la concurrence. Voici quelques exemples d'avantages concurrentiels potentiels pour une entreprise de rénovation : - la proposition de devis personnalisés et gratuits - le respect des délais de livraison convenus - des artisans qualifiés et spécialisés dans différents domaines (plomberie, électricité, toiture, etc.) - une communication efficace avec les clients - des équipements et des outils adaptés à tous les types de travaux - des partenariats avec les agents immobiliers de la région - etc. Téléchargez notre business plan pour une entreprise de rénovation pour obtenir une étude de la concurrence prérédigée, ainsi qu'une liste d'avantages concurrentiels adaptée à cette activité.
Comment rédiger l'analyse SWOT d'une entreprise de rénovation ?
La matrice SWOT d'un projet représente un outil stratégique qui permet de regrouper les forces et les faiblesses d'une entreprise donnée, telle que votre entreprise de rénovation. Aussi, cette démarche aide à synthétiser les opportunités et les menaces potentielles. La matrice SWOT de votre entreprise de rénovation doit être synthétique et structurée. C'est un exercice compliqué pour les novices qui font souvent des SWOT décousues, peu pertinentes et illisibles. Or, à l'instar du Business Model Canvas, la SWOT a le mérite d'être une ressource synthétique présentant, en un coup d'œil, un grand nombre d'informations concernant votre entreprise de rénovation. Pour obtenir une matrice SWOT complète, rédigée et modifiable, téléchargez notre business plan pour une entreprise de rénovation .
Comment construire la stratégie marketing d'une entreprise de rénovation ?
Dans le business plan de votre entreprise de rénovation, vous devez établir un plan sur le long terme pour assurer le développement de votre activité. La stratégie marketing comprend l'ensemble des initiatives à mettre en œuvre pour attirer davantage de clients susceptibles de solliciter vos services de rénovation. À titre d'exemple, on peut citer la création d'un site web professionnel pour votre entreprise de rénovation. Ce dernier permettra à vos clients de vous trouver sur le web. Il devra rassembler les informations essentielles liées à votre activité de rénovation. Il faudra également travailler sur son référencement organique et, en particulier, sur certains mots clés afin que votre entreprise de rénovation apparaisse dans les résultats de recherche de Google. Pour être certain d'être en tête des résultats de recherche, vous pouvez également investir dans des campagnes Google Ads. Votre entreprise de rénovation devra également maintenir une certaine dynamique sur les différents réseaux sociaux. Le service Facebook Ads offre la possibilité de promouvoir votre entreprise de rénovation et ses offres auprès de publics ciblés. Il s'agit d'un moyen efficace d'obtenir de nouveaux clients. La commercialisation de votre entreprise de rénovation ne se fait pas uniquement en ligne. Il y a aussi les différents supports physiques. Par exemple, vous pouvez imprimer des supports publicitaires afin de gagner en visibilité. Enfin, vous avez la possibilité de nouer différents partenariats avec des entreprises (notamment celles qui s'adressent au même public) qui vous permettront de développer votre activité. Il existe beaucoup de techniques et de ressources marketing à explorer. Retrouvez-les dans notre business plan adapté à une entreprise de rénovation .
Les éléments financiers du business plan d'une entreprise de rénovation
Un business plan réussi doit inclure une démonstration financière complète. Il faudra, entre autres, établir des estimations du chiffre d'affaires de votre entreprise de rénovation. Bien entendu, il est essentiel que de telles estimations soient proches de ce qu'il adviendra. Notre prévisionnel financier pour une entreprise de rénovation comprend un système de vérification qui permet d'obtenir des prévisions et des estimations réalistes. Dans ce modèle financier, les tarifs des prestations et autres variables sont modifiables afin de pouvoir tester plusieurs scénarios. Par ailleurs, il faudra établir un budget de départ pour votre entreprise de rénovation. Cette partie du business plan comprendra tous les coûts de démarrage et les montants associés. L'étude du seuil de rentabilité constitue également une partie importante du business plan de votre rénovation. Elle permet de connaître le montant des recettes à réaliser pour atteindre le seuil de rentabilité. Cette analyse fournit également des indications sur les bénéfices futurs de votre entreprise de rénovation. I faudra également tenir compte des dépenses courantes de votre entreprise de rénovation. Par exemple, il y a le renouvellement et l'entretien des outils et du matériel de rénovation, le coût de l'entretien des véhicules ou encore les salaires du personnel (maçons, plombiers, charpentiers, électriciens, etc.). Pour finir, le niveau de performance de la stratégie financière de votre entreprise peut également être étudié grâce au soldes intermédiaires de gestion, au détail du BFR ainsi que les graphiques financiers. Bien entendu, tous ces tableaux, indicateurs et ratios financiers font partie intégrante de notre modèle financier adapté à une entreprise de rénovation .
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Remodeling Business Plan
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Executive Summary executive summary is a brief introduction to your business plan. It describes your business, the problem that it solves, your target market, and financial highlights.">
Introduction Comgate is a custom mill house specializing in creating architectural woodwork in the form of wall paneling, custom cabinets, and other products for the local residential market. After initial losses and several thin profit years of competitive bidding construction projects, Comgate is creating this business plan in order to bring its mission statement into clearer focus. Prior years were characterized by hectic efforts to bid as many jobs as possible. Margins were thin as pricing policy was “flexible” for fear that there would be insufficient work for production staff.
However, with the growth of sufficient sales, Comgate has the opportunity to create greater margins, increase efficiency, and improve overall profitability through long-overdue restructuring and focusing on our target market. These changes will assure more accuracy in pricing, billing, and tracking of costs for comparison purposes. Profits are expected to increase.
The Company Comgate’s mission is to compete profitably in the high-end residential market for custom woodwork within the state of Connecticut. It will emphasize custom work of the highest quality, and specialize in the most demanding needs of new and remodeled designer homes in the $3 to $15 million price range.
Products Comgate is engaged in custom architectural woodwork in the form of wall paneling, custom cabinets, molding, pilasters, radius units, circular staircases in special woods, elaborate dressing rooms, specialty kitchen work, etc. The recent addition of state-of-the-art CAD capability will help substantially to increase sales of higher-end products by targeting design professionals who are in a position to influence choices of subcontractors building “trophy” homes costing over $3 million. “Custom” is the key word at Comgate. The average home would not use our products. Custom woodworking of the type carried out by Comgate is made to order only. No finished goods are made up for stock. For this reason, there are rarely very long production runs.
The Market The industry is mature and well-represented. There are many mill shops in the same market area which are focused on specialty areas. One mill shop may concentrate on custom furniture and form special alliances with upholstery shops. Other mill shops may specialize in standard kitchen cabinetry. Comgate is targeting the highest end of the residential market ($3-$15 million homes). This work is less price-sensitive and relatively steady, even during economic valleys. The most critical competitive weapon which the company holds at the moment is its CAD capability. The program is especially formulated to suit the custom woodwork market, and is expected to make substantial in-roads into the chosen highest end residential market. Comgate should be able to set itself apart from the competition, and be able to fully utilize its recently expanded production capacity.
With greater and greater demand for high-end trophy home construction, coupled with the increasing difficulty of attracting and keeping skilled workers, Comgate is moving toward linking its CAD capability with the practices of design professionals that will allow the company to out-source certain simpler parts in a project to other mill shops, while keeping the more demanding work for itself. Being able to present another mill shop with exact detailed CAD drawings, together with precise dimensions and material lists, will allow Comgate to increase sales and profits, and to concentrate on the more challenging custom woodwork products.
Financial Projections The recent addition of over $110,000 in advanced new Computer Numerical Control (CNC) machinery, coupled with the building of an in-house industry-adapted Computer Aided Drafting (CAD) capability, will propel sales to nearly $800,000 by the end of Year 1, and $1.2 million by the end of Year 3. Profits will grow as well. A desire to shorten accounts payable in Year 2 to take advantage of all available trade discounts, together with rising receivables, will result in a short-term need for increased bank lines of credit of approximately $30,000.
Comgate’s mission is to compete profitably in the high-end residential market for custom woodwork within the state of Connecticut. We will emphasize on custom work of the highest quality, and specialize in the most demanding needs of new and remodeled designer homes in the $3 to $15 million price range.
1.2 Keys to Success
The most important keys to success in the contractors’ mill shop industry are:
- Avoid bidding projects which are likely to be awarded based primarily on price, projects being undertaken by those who are disreputable (no matter how badly the company needs work), projects which are too big (more than 20% of last year’s sales), or projects which do not fit the company’s niche market and thus unlikely to advance the company’s marketing strategy.
- Accurate take-off and listing.
- A clear understanding between the company and the client, in reference to quality and terms of payment.
- Correct calculation of material (including wastage) and labor required to complete the project.
- Correct application of overhead factors and profit margins, plus any special considerations.
- An administrative system supported by operating procedures that accurately tracks the job costing and compares the job as bid with the actual costs of completing the job. Constant adjustments to bid formulas.
- Reliable production staff that communicates well with administration to assure that the job is produced on time and as bid, making maximum efficient use of labor, materials, and available machinery.
Comgate’s major objectives are:
- Increase production. Given the new machinery and four production staff, full productive capacity has been carefully measured. The goal is to reach, on a monthly basis, 80% of this capacity in the last quarter of Year 1, 85% in Year 2, and 90% in Year 3. This 80% of capacity translates into monthly production of 342 feet of crown molding, 22 pilasters, 54 doors of various grades, and 77 linear feet of cabinets (or some equivalent combination of these items). This will result in monthly sales of $60,816.
- A much simpler task is to maintain site contract workers (six) at present, full employment levels will generate monthly revenue of $34,623 which (after expenses) nets the company $21,794.
- Continue efforts to bring the company’s in-house CAD capability to the attention of more design professionals, especially those in Hartford, New Haven, Stamford, Norwalk, and Shelton, as these are the areas with the greatest concentration of the chosen $3 to $15 million residential homes.
- Join the Connecticut Chapter of the American Society of Interior Designers (ASID) as an industry partner as well as the Connecticut Society of Architects (CSA). Get listed in their resource directories.
- Complete the planned administrative changes to ensure that all work is properly billed, in a timely manner, and to ensure that jobs are correctly tracked so as to facilitate later cost comparisons with bid prices.
- Work to complete an operations manual that has been started.
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