Your New Construction Commercial Building Project: Pre-Planning

Your New Construction Commercial Building Has the thought of beginning a new construction commercial building project for your company or portfolio been occupying your thoughts? You’ve got to admit; it’s exciting to think about. Creating your own professional space, painstakingly customized to every specification you’ve ever dreamed of? That’s definitely a proposition that makes the heart weak. BE SURE Of course, you know that undertaking a project of that scale demands a huge amount of resources. Those resources, in the form of time, money, focus and others, are resources that could otherwise be channeled directly into your business. That’s just one reason it’s important to be sure before you begin. NEW VS. EXISTING Why is new construction the best option, rather than buying or leasing an existing building and making modifications to suit your needs? Consider discussing your plans with a financial advisor or business consultant. They will be able to evaluate the situation from a purely professional perspective, and provide valuable, objective feedback. A GOOD BUSINESS PLAN The best way to set yourself up for success before building your own commercial property is to start with a good business plan. This will help you feel more confident as you move forward toward your goal, knowing your actions are based on solid, realistic revenue projections. It will also help you gain confidence with lenders, by demonstrating that your company’s financial security will not be jeopardized by a project of this magnitude. VIABILITY Now that your business plan is written, carefully evaluate the breadth of your needs. While it is important to manage money wisely and avoid needless overspending, it’s not most important. You need to realistically determine the scope of your short and long-term needs. Factoring in future growth is key. Failing to do so could be financially disastrous. SECURE FINANCING Not just any financing. Make sure it’s the right financing. This is the time to do your homework.  Make a decision based not only on the lender’s willingness to finance your project at the best terms. Consider what kind of partner they will be for you in this venture, and whether or not they offer the kind of support and services that will be helpful to you long-term. Watch for Part II in our next post. Contact Ark Construction If you’re planning or thinking about a New Construction Commercial Building, give us a call. At Ark Construction, we’ve got the reliable, professional experience you need for unique project. With more than 20 years delivering commercial construction and residential construction excellence to Nashville and the surrounding area, you know you can count on Ark Construction. Please give us a call today at 615-642-2181. We look forward to hearing from you. For more information about special offers and updates from Ark Construction, click here: http://www.clarksvilleconstructioncompany.com/