Introduction
Creating a small business requires preliminary insight into various business characteristics essential for the organization’s success. Establishing a private company can prove to be especially beneficial to an individual knowledgeable of the primary traits of such economic involvement (Burns 99). In this work, a personal business plan for a small company constructing various buildings for disadvantaged individuals will be presented, and the key strategies for its foundation will be discussed.
Executive Summary
The private business proposed will provide its customers with construction services, such as the creation of small buildings for personal use. The working area chosen is incredibly lucrative as it presents the clients with suitable homes and is focused on individuals belonging to a disadvantaged group. The target audience for my business includes community members who are economically, socially, or physically restrained. The team I have chosen for my company will be comprised of a CEO, marketing, and construction specialists.
The business’s headquarters will be located in the USA, and the first agency will be opened in my local town. I hope to create a company that will entail private construction workers and thus provides efficient services for its clients. Initially, my financial resources will consist of my savings. As the organization size increases, extra financing options and sources will be required for the next advancements.
Company Description
The services distributed by my organization will include the construction of small buildings by certified construction workers. My business will primarily serve disadvantaged individuals who need living arrangements but are unable to afford them due to their social standing. The proposed company can serve as a link between such construction enthusiasts and customers needing professional help, solving various issues connected to creating credible housing for disadvantaged clientele.
Several competitive advantages can benefit my company in the early stages. First of all, I plan to gather marketing experts who can help establish a connection between the clients and the freelance workers (Burns 100). Efficient strategies will be applied by the experts to appeal to possible customers and investors (Burns 101). A human resources employee will manage the communication between construction professionals, the marketing team, and the clientele.
Organization and management
Developing the company structure is essential for its future success. I will create a C Corporation to be taxed separately and be eligible for corporate taxation of potential revenue. I believe it will be beneficial for my company to be in a general partnership to be able to attract other partners who might be interested in this project. Sharing the responsibilities might prove necessary as the range of possible issues is exceptionally high.
The roles in my company will be divided by function. One of the most critical departments will be led by a marketing specialist, who will be in charge of promoting my organization’s services to both potential employees and clients. Another essential division for my company is related to construction processes. This team will be responsible for finding a relevant construction site and creating a suitable project given the geographical region and workforce available. Finally, a human resources professional will be required to manage the interactions between employed freelance workers, managerial personnel, and the company’s clients.
Service
The services provided by my organization will range depending on the freelance workers available at a certain moment. In general, the enterprise will be responsible for choosing a suitable construction site and employing professionals who will build the required structure. The life cycle of the final product will start with the process of assessing the needs of the disadvantaged individuals and finding a location credible for subsequent construction. After the future building’s characteristics have been ascertained, workers for this project will be hired. The rights to the constructed property will belong to the general partners. The copyright details will be included in the contracts between the construction team and the organization.
Funding request
To provide the materials necessary for the building’s creation, it is necessary to accumulate significant financial resources. As a disadvantaged individual, I will be eligible for the financial support provided to the owners of a disadvantaged business. The company partners will be required to be socially or economically restrained, thus qualifying for this program. However, the funding needed will be substantial, as various issues can arise during the construction process. To cover the costs of such difficulties and stay financially viable, assistance from the government will also be necessary. Potentially, in the next five years, my organization will be able to achieve the goals presented and construct at least 100 different dwellings for disadvantaged individuals.
Financial Projections
I have several economic expectations related to my company’s growth. The business proposed possesses an exceptionally high potential of becoming stable and affluent within the first year. I believe that the initial stage of my organization’s growth will require this amount of time to attain significant profit and begin generating desired revenue. Considering the state of the market and the demand for freelance working options, the predicted outcomes can be certainly achieved (Burns 159). Implementing construction professionals can create a demand for such employees and supply my business with the necessary amount of workforce. Given the financial support, my company can become highly successful and achieve the goals outlined.
Conclusion
To conclude, the main points regarding the creation of a small construction business company have been discussed in this work. The proposed plan entails various characteristics of a future organization, such as its services location, target customers, and potential employees. It will be necessary to hire construction specialists and marketing professionals to ascertain possible building areas and present the clients with sustainable living arrangements. Moreover, extensive financial support will be required for the overall success of this project.
Reference
Burns, Paul. Entrepreneurship and Small Business. Palgrave Macmillan Limited, 2016.