Business developments are currently on the rise, both in major city centers and on the outskirts. But regardless of its size, a business development is a project to be taken seriously and requires careful planning.
If you are well prepared and make wise choices, you will reap the benefits and your buyers or tenants will be happy. On the other hand, if you are in a hurry, the risks are great. Making a mistake can be costly, not to mention the risk of compromising your reputation and complicating future funding.
In short, you need to be well prepared, well surrounded and, above all, not to skip any steps.
Break down your project
Throughout your development, your best ally is a detailed and appropriate project plan. By its nature, it must be comprehensive. But all these details can make it a complex document for the layperson. To help you organize everything, write a clear initial plan that describes all parts of the project:
- Preliminary budget and cost-benefit analysis;
- Land purchase;
- Project design;
- Determination of timelines (and phases if necessary);
- Project construction;
- Development of a marketing plan;
- Sale or lease.
By breaking down each of the above points, you will know exactly what needs to be done and in what order to complete your project. Do not hesitate to consult the professionals around you to make sure you haven’t forgotten anything. Your architect, designer, construction contractor and other advisors have the expertise to help and guide you. Put them to work!
Define a timetable
The key to the success of your project: define a realistic and achievable timetable. Although it may seem tempting to complete a development as quickly as possible, it is rather a trap to avoid. You could end up with a project that does not meet construction standards or with poor finishing touches. As a result, you will have difficulty leasing or selling the development once it is completed.
By having a detailed and realistic timetable, you have a solid tool to estimate each of the elements of your project. You have an overall picture and can determine which tasks can be carried out simultaneously and which must be done consecutively.
To elaborate a business development, you will need to call upon the talent and expertise of many professionals. You will probably need to research and perhaps even accompany contractors to ensure that the site is running smoothly. It is therefore essential to appoint a person who will oversee the project full-time and who will make sure it stays on track. This way, contractors will know exactly who to contact if necessary and to whom they should report.
The most successful commercial projects are those that have been carefully planned and developed before work begins on the site. Of course, no one is immune to the unexpected and you must be prepared for changes along the way. However, without a clear plan and method of execution, your entire business development could be jeopardized.
Why choose us?
Since 1993, business development has been Protech Construction’s specialty. Although we are mainly active in the Greater Montreal area, we serve a clientele from all over Quebec.
We are always ready to listen to our customers and offer tailor-made solutions according to your specific needs. We accompany you from the moment the project idea emerges until final delivery, offering advice and expertise that will guarantee its success.
To meet and exceed your expectations, you must surround yourself with an efficient team and state-of-the-art equipment. This is exactly what you get with Protech. Let us surprise you!