How to Write a Business Plan for a Construction Company – ThomasNet News

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Career & Workforce
Chad Brinkle
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Many contractors know how to build a home or office space, but not all know how to build a company and make it grow. More contractors are becoming aware of this and need financing from the right people to develop their business.
To do this, you need a solid business plan that investors can get behind. The document should hold the basic elements of a business plan, such as the executive summary, identity, and income projection.
However, the elements that will make it stand out are the specifics of the construction industry. Creating a business plan helps you see the direction of your business and identify long-term goals.
Experts say that a good business plan should be 15 to 20 pages long. However, some insist on going for 30 to 50 pages while others, less than 15 pages. Experts agree that the length of the business plan is subject to change depending on the target audience. 
Remember that lenders and investors often need more details to make an educated decision. On the other hand, smaller business plans are easy to change and update to fit various companies.
The basic business plan elements you should never skip — including for construction businesses — include:   
Single-use business plans are best for one purpose, such as getting funding for your business. You then keep the plan and never use it again. However, live business plans remain in use, updated a few times every year.
Depending on your goals and growth, you can have both for your construction business. However, it is best to tailor one business plan to a specific purpose instead of using it for multiple objectives.
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