For small businesses, construction and renovation projects can be a massive undertaking – oftentimes, they’re costly, they’re time-consuming and they take a great deal of planning in order to ensure their success. But according to Jennifer Wilson, owner and director of business development at Southern Construction, LLC, there are a few major steps you can take to help your small business’s next commercial construction project go off without a hitch.
Step #1: Know exactly how much money you’re willing to spend.
Many small-business owners, Wilson explains, meet with contractors and immediately request a budget before plans are developed. Unfortunately, it’s not that simple. “There’s more pre-work to construction than people understand,” Wilson says.
Creating a thorough plan for your project is an excellent start, but first it’s essential to know precisely how much money you’re willing to spend. If possible, meet with your lending institution and prequalify for a loan or if you are financing with cash, set a limit and stick to it. A well-thought-out budget coupled with an intricate project plan makes it that much easier for a commercial contractor to create a bid that meets your demands without taking a heavy financial toll.
Step #2: Know exactly what you want and, develop an in-depth plan.
Construction doesn’t have to be your forte in order for you to develop a thorough plan for your commercial construction project, even if you’re a small business. Wilson recommends seeking out a firm to help you create a plan that explores every element of the project, from square footage to hardware selection. Many commercial construction companies can provide design-build services such as creating CAD drawings, architectural plans, a scope of work and specifications for your commercial project. Once the project design is complete, the same company can execute the construction. Everything is completed in-house from start to finish.
Step #3: Consider any special requests.
Oftentimes, Wilson says, details that might seem minor to a business owner pop up once the project is already underway. And just as often, these details can play a major role in how the project is approached from the contractor’s standpoint. For example, if your property can only be accessed during certain times or if you’re seeking renovations in a shared space, it’s of the utmost importance to incorporate these details into your preliminary plans, so they don’t throw a wrench into the project down the line.
Step #4: Research contractors before getting bids, and make sure they’re commercial experts.
Only licensed commercial contractors can perform commercial construction. That’s why you should always thoroughly vet the contractors you’re considering before pursuing bids. Check your state’s board for contracting to make sure your contractor holds a current commercial license.
Beyond licensing, commercial contractors separate themselves by having adequate insurance coverage. A good rule of thumb is to make sure your commercial contractor carries the proper insurance such as general liability, worker’s compensation and commercial automobile. All commercial contractors should be able to provide a current insurance certificate showing this coverage.
Step #5: Set up a Bid Review Meeting
A bid is a proposal. You should receive a formal bid where the contractor proposes to do certain tasks to complete your construction project. Before you accept a bid from the contractor, set up a meeting to discuss the project. Make sure the contractor has included every aspect of your project in the bid. Talk about potential situations that could require changes. A face-to-face meeting before you accept a bid from a construction company will ease your mind and clear up any confusion.
Planning a construction project for your New Orleans-area small business? Explore Southern Construction’s past work for a taste of their expertise, and reach out to the company today to begin planning your project.