Nobody breaks ground on a building project expecting it to be a money pit, but if you’re not careful, the hole you dig can become just that.
Financial security can make or break a business - it’s something we know first-hand at Shaw-Lundquist. In our 42 years of business we have never taken out a traditional bank loan. That’s a feat not many successful companies can boast! As a second generation, family-owned general contracting company, we are committed to the growth small business, and want to provide you with a few fundamental tips to building revenue for your business.
Plan Your Projects Thoroughly
Timing is everything in construction management. Delays can eat up your budget in no time. Keeping that in mind, you have to plan for potential risk that could throw off your project’s schedule. Weather, long lead times, material selection, and industry trends are just a few factors that could cause critical delays in your projects.
Accurate and upfront preconstruction and estimating services will eliminate risks that often cause construction delays. Developing a detailed preconstruction plan for the project should be standard on all of your projects, as it will minimize unforeseens and surprises during construction. Every project is unique, so working with your team to anticipate any issues that could arise will keep your construction plan in-tact.
Having a good plan in place for the construction phase will also benefit your project. A project specific Quality Control Plan will ensure that all work during construction is of the highest quality. The plan is a great guideline for all trades on-site to follow throughout the project. A properly designed and implemented Quality Control Plan will eliminate expensive and timely re-work.
Efficiently using your resources is a great way to save serious dough especially when you have multiple projects going at once. When more than one job requires use of the same equipment you might resort to renting another piece of machinery, or determine it would be more cost effective to buy an additional one. Don’t make costly decisions that some planning on the front end can prevent. Use a master project calendar to schedule what will be needed, when, and for which projects. This will help prevent expensive double-booking issues and will maximize your return on investment.
There’s typically a rise in construction projects from June to October. According to the law of supply and demand, your material costs will be higher. It’ll pay off to plan your project avoiding times of high demand. You’ll likely pay less for materials when the demand is lower and essentially boost your budget. Pay attention to industry trends and plan for your projects accordingly.
Leave It to the Experts
If they can get the job done more efficiently, take advantage of another company’s expertise! Throughout your project there’s a host of opportunities to save by working with an expert, such as outsourcing project coordination to a general contractor like Shaw-Lundquist. As a second-generation firm, our team understands the ins and outs of commercial construction and we’re experts at managing construction projects. We can help you save money from project initiation to project completion.
Whether you’re launching into a new construction project or simply want to streamline your existing processes, we hope these pointers help! Our proven experience and expertise can be the leverage that propels your company ahead of the competition. Give us a call
today to learn how we can move your project towards better financial security.