How Do you Start a Construction Project?
Your business is booming, and you’re looking for a way to physically keep up with your growth. It’s time for a new building, and you know it, but where should you start?
Many business owners and operators know that the need for expansion to a new location or improvements on an existing building are necessary, but few truly understand the time it takes to revamp a whole structure or build a new one from the ground up.
Since your business is different from all the rest, a generic time frame will not be able to accurately predict the time it will take to finish the project. Typically, estimated completion dates can range from 3 months to a year and a half, depending on the type of work and the size of the job.
For any construction project there are several factors to consider:
- Will you lease an existing structure, or will you be building a new one?
- Do you have a new general location in mind?
- If the structure exists, is it in good repair?
- If you’re building a new structure, does the location you’ve chosen meet the criteria for the type of building you desire?
- Have you factored in the time it will take for an architect to come up with plans for the building before construction can begin?
Lease vs. Buy
Both the choice to lease an existing structure and to build a new one have their merits and drawbacks. Leasing eliminates to need to build from nothing, but will most likely require modification of the building, especially if extensive repairs are necessary. It’s possible to transform a drive-through fast food restaurant into a satellite bank branch, but is the transformation as desirable as erecting a new building specifically designed to suit the bank’s needs? Building from scratch allows for custom design, but may require significantly more time to complete than remodeling. In this decision, a business should carefully consider all the options available.
For additional help, download our free Lease v. Buy forecasting tool!
Selecting a New Location
Deciding on a new location requires a great deal of time and forethought. Researching demographics, market trends, and traffic past the area are all wise moves when determining where to go. Sandwiching a business space between two busy, one-way streets heading opposite directions and a railway crossing that impedes traffic often doesn’t necessarily make as much sense as relocating somewhere less highly traveled. Building an enormous structure to accommodate more stock can be a great asset, but only if it doesn’t reduce parking space or accessibility to your clientele. Willingness to compromise in one direction or another sometimes becomes the greater asset in those types of situations.
Finding an Architect
Finding and employing an architect who has the skill to translate what you want for your business structure from your vision to the plans can be a daunting task. Researching architectural firms to find the perfect fit takes time, and that’s time spent before anything is laid out on paper. Maybe you’re lucky enough to have recently seen the finished work of a tremendous architect, but chances are you will spend some serious time asking around, searching online, and making phone calls to find the right craftsman for your job. Once that’s accomplished, drawing of the blueprints can begin.
Obviously, the planning required to embark on a major construction project dictates that it won’t happen overnight, but talking to a professional general contracting firm is a great place to start.
Contact us today to learn more about what it takes to realize your construction ideals.
Or call us at 405.601.2700 x 104