New: Get help from the Thomas Industrial Buying Concierge Service for free
Career & Workforce
Chad Brinkle May 06, 2022
Welcome to Thomas Insights — every day, we publish the latest news and analysis to keep our readers up to date on what’s happening in industry. Sign up here to get the day’s top stories delivered straight to your inbox.
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.
Get More Business Plans
Image Credit: Jat306 / Shutterstock.com
Career & Workforce
Career & Workforce
Career & Workforce
Career & Workforce
Career & Workforce
Career & Workforce
Career & Workforce
10 Types of PPE That Should Be on Your Essential List for a Safe Industrial Workplace [Checklist]
Career & Workforce
Career Website Helps Businesses Connect with Neurodiverse Job Seekers
Career & Workforce
7 Ways to Prevent Strikes in Manufacturing and Industry
Career & Workforce
How to Manage Differing Opinions in the Workplace
Career & Workforce
Elevator Pitch Examples for Students
Supply Chain
Business & Industry
Engineering & Design
Daily Bite
Daily Bite
Select From Over 500,000
Industrial Suppliers
Find and evaluate OEMs, Custom Manufacturers, Service Companies and Distributors.
Receive Daily
Industry Updates
Stay up to date on industry news and trends, product announcements and the latest innovations.
Search Over
6 Million Products
Find materials, components, equipment, MRO supplies and more.
Download 2D & 3D
CAD Models
10+ million models from leading OEMs, compatible with all major CAD software systems.
Copyright© 2022 Thomas Publishing Company. All Rights Reserved. See Terms and Conditions, Privacy Statement and California Do Not Track Notice. Website Last Modified December 5, 2022.
Thomas Register® and Thomas Regional® are part of Thomasnet.com. Thomasnet Is A Registered Trademark Of Thomas Publishing Company.
source
