How To Estimate Construction Costs

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. If you’re in the construction business, a key to your success will be estimating and managing costs. Doing so will ensure that your jobs are profitable. The following contributed post is entitled, How To Estimate Construction Costs.

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If you are considering renovating your property, there are costs around every corner. Particularly if it is a large property which requires a lot of work, there is much to be done to budget your renovation without missing anything out. Working out the costs of labor, materials and time constraints takes organization and time, as well as patience and professional consultation. Here are some criteria to consider when planning construction work on your property!

The Nature of the Renovation

All renovations are unique in their needs, and in order to find an accurate estimate, you will first need to understand the nature of the renovation you want to undergo. Carefully plan what exactly needs to be done for the renovation, and the desired effect you want to achieve. In order to do this accurately, it is best you consult a contractor who can explain all that would need to be done for each stage of the renovation and how much it might cost.

The Materials

Many people are surprised by the cost of raw materials needed for a large renovation. Depending on the type of wood, metal and other materials you will need for the renovation, you may be charged less for a bulk amount of the material, and may be given discounts or deals based on the contractor you go through. Wood costs and the amount of wood needed are shown using Lumber Takeoffs which are professionally estimated by experts. This will give you the best accuracy for understanding how much material you will need, and how much it will all eventually cost.

Manpower

Of course, any construction work will need manpower to implement it. Your contractor will help estimate how many construction workers you will need to complete the renovation, and for how long they will need to work. Manpower is a significant part of the operation which is often included in the price of construction, depending on the company you use.

Collateral Budget

In any construction work, things go awry that were unexpected. Perhaps the right materials are not available at a certain time, or something like the COVID-19 pandemic comes along and shuts the place down. Whatever it may be, your budget needs to include some money for collateral costs which you did not plan for. Without it, you could be stuck halfway through a construction project with no way of finishing it. This can be a nightmare scenario for any property owner who just wants to get the job done.

Conclusion

Construction costs do not have to sneak up on you when you least expect. While this happens much of the time, with proper organization and professional consultation, you can get an accurate estimate of your renovation costs which doesn’t leave you surprised and disappointed when the time comes to pay up.

Smart Strategies to Grow Your Construction Business

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. A business sector that will likely endure is the construction sector. A with any business though, you have to have a strategy for growth. The following contributed post is entitled, Smart Strategies to Grow Your Construction Business.

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Do you want to expand your existing construction business or get through the first year of the new operation? If you’re not sure quite where to start, these strategies are ones to consider:

Create a Client Prospect List

Let’s say that someone calls your business asking for a quote. Ask for their contact details, including their name and their preferred method of contact, such as email or phone.

Add them to your list of prospects, along with setting up an email list on your website. At the same time, put a contact form on your list so that it’s easy for people to reach you. Also, when you are networking at events, ask those who you speak with if you add them to your email list.

Then, send weekly updates of value to the list, such as industry news or an award your company recently earned. Customize messages and offers, as appropriate, all with the strategy to build long-term relationships that can increase sales over time.

Finance Equipment

The right equipment is essential to the growth of your business, but you might not be at a point yet where you can afford to purchase new or upgrade the existing equipment. In this case, equipment financing can be a great way to stay competitive in your industry, whether you need bulldozers, forklifts, tractors, or other type of gear.

If you decide to buy used heavy equipment, ensure it has clear title, and test and inspect it before purchase, if possible, to ensure it’s in good condition. Get heavy equipment keys and key sets for OEM and aftermarket ignitions from a reputable seller too.

Strengthen Your Website

Take a serious look at your website. Is it responsive (mobile-friendly), and does it have an intuitive design? If not, then it’s time for an update.

Also, make sure that you have photos of completed construction projects you have completed on the website to showcase your team’s abilities. Photographs can often be more powerful than words. Make sure too that your site indicates clearly how to contact you and what is the best way to place an order so that the visitor can take that initial step.

Call Monitoring

By looking at the inbound and outbound calls your employees are making, you can boost customer levels dramatically. Call recordings can indicate where you need to invest in staff training to get more leads, as well as how to grow your repeat customer rates.

Of course, always be transparent with your team that calls are monitored and have them explain that at the start of any phone conversations. Call monitoring can help strengthen relationships with customers.

You might see more up-selling successes down the road, too, as you build brand loyalty. If sales training courses are needed, it is well worth the investment.

Growing Your Construction Company

From improving client communication to building a stronger online presence, your construction business now has insights into ways to grow and evolve. Now you have to create a business plan that details what steps you will take and when so that you stay on track. Wishing you all the best with your organization.

Top Advice on How to be Successful Running a Construction Business

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. One sector of business is construction and it comes with it’s own set of caveats and nuances. The following contributed post is entitled, Top Advice on How to be Successful Running a Construction Business.

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Are you looking to run a construction business? Maybe even start a new one from scratch? Does the thought of actually doing seem quite scary? Of course, it would! Starting anything new let alone a construction business can be a quite daunting task. So, with all this in mind, how can one run a construction business, and do so successfully? This article hopefully will shed some light on the tips and the advice needed to do just that!

Find and Manage the Suppliers of your Business

This is a given with any business that requires physical products or manufacturing. When it comes to construction, there are many different lanes to choose from. Residential buildings, office buildings, small shelters and big. Or, if you are big enough large scale building developments like Airports, stadiums and huge skyscrapers. All of these different lanes and projects require a different level of relationship with your supplier. For example, if there are pieces of equipment needed such as Floor Cranes for a project, bulk orders may sit better with one supplier than another, who may prefer small bespoke orders. All of these things need to be taken into account if you are planning to, or are running a construction company.

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Politics and the Economy have a Massive Impact

These events can alter to a huge degree to health and the growth of both the construction industry and the housing industry, which has a huge impact on construction on its own. If there are huge changes coming from the political realm, parties pledging huge construction projects, or huge improvements or additions to housing projects, then your business could be able to capitalise on this. However, if the opposite occurs, such as economic downturn, or a reversal of previously promised housing or construction projects then your company take the brunt of the impact from this scenario. For example, the third runway at Heathrow has been tossed and turned by many consecutive Governments. However, when Theresa May gave it the green light and it passed the house, work had begun on how and who would carry out this work. Then a year later, the court deems it unethical due to the environmental impact, so once again the project is shunted. These events can really make an impact on a construction company, so make sure you
spread out and keep up a line of clients to steady your books.

Have your Legal Obligations Met

This is a given with any business, but as a construction company, there are many different legal entities that are at play. One of the main ones is with the very nature of construction and using huge equipment like cranes and machinery, to the tools and the handheld tools that can also cause some catastrophic damage to anyone who may get injured by one. Companies such as Hasbrook & Hasbrook are there to help anyone who may be injured whilst at work, but as a business, you have an obligation to keep everyone who works at your business safe, so keeping up your legal obligations Is of utmost importance.

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Find your Niche

Again, as like any other business finding your lane and discovering your niche is something you need to do right from the get-go. It helps you in many future decisions you and your business will need to take, from things like what clients to take on, and what paths you want to go down in the future to expand and grow. This is the aim at the end of the day, to find the pathway for your business to go, and to keep going down that path and expanding and growing and learning lots of new things to take forward.

It also helps you with your marketing activity. How are you going to market your business? What are your strengths? What are you selling? All of these things collectively make up your marketing mix, so not knowing what your niches are and what you are good at is not a great mix for success, and may achieve quite the opposite. So, get that niche down and find out who you exactly marketing too.

Are you a small, medium, or large scale business?

Some construction companies that are huge national corporations obviously have some benefits and power that a smaller business wouldn’t have, just down to their size and their influence. Some smaller businesses have benefits that a larger business wouldn’t have, for example being more flexible and agile. Decisions are faster than in a huge business, as there are far fewer layers of management to communicate through. When it comes to future planning and decisions you need to make for your business, make sure you know the size of the business and the real power it has. Evaluate the strengths of your business, and outline the weaknesses. When fighting with the competition in a very saturated market, see what weaknesses the big player has over you, and the strengths that you hold over them. Play to those, as these will be the major factor in your success in the construction industry. Like many of these tips, this method and thought process will also make success in many other fields much more likely, so take heed!

Master the Art of Gaining new Clients

Speaking to People and Networking

Networking is one of the best ways to gain leads for your business, and there are several reasons for this. Firstly, it’s personal. You can go directly and talk to people, often from the same area of expertise or people who are going to network primarily to find someone to help them. Then, when you find someone who is looking for something that you can do, then you can really talk and build a relationship with them right there and then. Then, if all goes well, and you have exchanged contact details, you can start talking about what each other wants and then start the business negotiation and hopefully gain a long term client.

Networking events are also good to get your name out there in the world of construction or whatever industry you work within, and then this leads to word of mouth, which this article will delve into more deeply later.

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The Internet and Social Media

Another way to get customers and project leads as a business is to simply browse the web. Today, most companies have an online presence. Platforms for finding projects and leads that you can bid on such as online tenders can also be a good alternative. Using social media is also something that you can do, for free, to get your message out there. Or, if you are in the place to be able to invest in social media marketing, boosting posts and getting some targeted adverts may also be a good idea! You can share what you have done, the building projects that your company have completed in the past, the plans for projects in the future and behind the scenes looks at your construction processes. All of this content gets people online interested and look into your business more closely. Also not many construction businesses today utilise their power on social media, so if you do so, this gives your business some competitive leverage over older and more backwards companies when it comes to their marketing practices.

Master Word of Mouth

Word of mouth, as it said was going to mentioned once more in more detail, and here goes! Word of mouth is great because once again its a free piece of marketing, that if done right, can garner you, new clients, forever! If more happy clients leave your business, then they will tell others who then come and then leave happy and tell more and so on and so on. It is a proven method and its a method that you should apply to your business!

The benefit of being a construction business is that you are creating something physical, and most likely long-lasting. The more and more work you complete the more and more people are going to be exposed to the work that you have completed. Therefore, the more word of mouth and admiration you will get for the work you have completed. So, keep that word of mouth marketing strong!

Hire the Right People!

This is another given when it comes to the world of business in general, hire the right people! No business will ever succeed or has succeeded when the wrong people have taken the helm.

You need people who are committed and have a great skill set that suits the projects and the suit the needs to the clients that you work for. This mixed with great leadership and teamwork will be the perfect foundations for a successful construction company!

So, that concludes this small article on how to run a successful construction business, and be successful in the construction industry. It is harder than it looks in many ways, but then in some ways, the answers are easy and in plain sight. You just need to work hard, and find them!

Benefits Of Self-Erecting Crane Hire For Businesses

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. In most modern countries, construction is a major business. Depending up what’s being built, a construction crane may be required. Thus, owing a crane for hire business could prove to be very lucrative. The following contributed post is entitled, Benefits Of Self-Erecting Crane Hire For Businesses.

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The majority of construction companies opt to hire canes rather than purchase them. This is of little surprise. After all, it proves to be much more cost-efficient to go down this route. Furthermore, the hassle is minimised because you do not have to deal with crane storage or maintenance either. In addition to this, when you consider the wealth of different construction tasks performed in the current day, you see why the same crane cannot be utilised for every task. For example, if you are in a busy and awkward setting you may require a mini crawler. Nevertheless, no matter what type of crane you purchase there is one quality you should always look out for and this is the ability to self-erect. Read on to discover the benefits you will reap if you opt to hire self-erecting cranes…

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• Small footprint – One of the main reasons businesses like utilising self-erecting cranes is because of the fact that they sit on a very small footprint. They also don’t need much when it comes to foundations either.
• Silent operation – In addition to this, most self-erecting cranes tend to run virtually silently. This is extremely beneficial when working in areas that have high populations. You will be able to get on with the task at hand whilst causing little disturbance to anyone in the area, especially those that are working as well.
• Fit into tricky spaces – Another way in which self-erecting cranes can make your task easier is because they have the capacity to fit into tight areas.
• Quick and easy mobilisation – Efficiency is enhanced dramatically because these types of cranes do not take very long to set up. In fact, most people find that they can have their crane working on-site within a mere one hour of its arrival. This ease of mobilisation is something which is highly sought after by companies today.
• Cost efficiency – Self-erecting cranes also present you with the possibility to lower costs as well. There are several ways in which this is the case. One example is the fact that you will take advantage of low siting costs. In addition to this, you don’t need to worry about any reinstatement costs either.
• Accuracy – These cranes present you with perfect accuracy via delivering materials to the exact spot required.
• Improved health and safety – Another benefit people tend to overlook is the fact that they will benefit from enhanced health and safety on their site. This is because there is a lot less manual handling involved in the operation of the equipment, making it much easier for your site safety plans. This is extremely important because as you know; it is your duty to ensure you provide a working environment which is as safe as it can possibly be.

To conclude, when you take these seven important benefits into consideration it is quite easy to see why so many construction companies opt to hire self-erecting cranes time and time again. There are no real disadvantages associated with going down this route.

What Works In The World Of Construction

Two key focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. The construction business is a world all in its own. There are distinct keys to succeeding and distinct keys to failing. The following contributed post is entitled, What Works In The World Of Construction.

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If you are thinking of starting your own construction business, there are a lot of things you will want to consider in order to make the most of it that you possibly can. In many respects, a construction business is like any other kind of business, and knowing that will enable you to focus on some of the major elements in the right way. However, there are also a number of things which are unique to construction itself, and which you will need to think about in order to ensure that you can make construction work as well as possible. In this article, we will look at some of the things that really work in the world of construction which you will want to consider for your own business in order to see that it is as successful as possible.

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The Right Tools

Something that can be said for running a construction business is that you need to know how to focus on the smaller elements as much as the larger, and in many respects these small things are the kind that you are going to need to look into most of all. One perfect example of the kind of smaller thing that really matters is the tools and equipment that your people are using. You need to make sure that everything, from the aerospace cutting tools to the plant you use, is as close to perfect for the job at hand as you can possibly get. As long as your employees have the right tools, everything will be considerably easier, and you will find that this has a strong knock-on effect for your business as a whole.

Connections

You can easily say that having the right connections is something that works well for any kind of business, and it is especially true when it comes to construction. One of your major difficulties is always going to be finding contracts, and that is just something that is so much easier if you are able to speak to as many people as possible within the world of construction itself. Hopefully, you have been a part of that world yourself for a long time, so you will already have some connections you can get started with, but you should aim to never stop networking either. As long as you can keep your connections going strong, you will find that it is much more likely you will get all the contracts you need to keep your business afloat.

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Safety

Without a clear focus on safety, running this kind of business is always going to be difficult to get right. Not only is it a legal concern, but it’s also a moral one – and ultimately, if you cannot keep your people as safe as possible then you will not be able to keep your business going strong either. So make sure that you are aware of all of the possible things you need to consider if you hope for your business to remain safe and legal at all times.

What Construction Companies Should Know For Future Success

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. The construction sector is a key aspect of the economy. It is impacted by other sectors and it impacts other sectors. The following contributed post discuss some potential things that can happen in 2019 and is entitled, What Construction Companies Should Know in 2019.

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If you’re in the construction industry, staying up to date with trends that could turn things around is a must. Many industries change year on year, so here we’re going to be talking about what construction companies should know in 2019. Let’s get right into it:

Green Technology Is Becoming More Popular Than Ever In Construction
People are beginning to realize that something has to be done about the planet. We are fast using up resources, so being as eco friendly as possible is essential, especially when the construction industry accounts for about 20% of global emissions.

You will find that more and more buildings and plans are incorporating green technology into the construction process, and this is great because green construction is a way of building projects in an environmentally responsible and resource-efficient way. A focus is being put on environmentally friendly buildings and focusing on the longevity of the building, which can only be a good thing for the future of our planet.

Sustainable construction can include the preservation of the environment, an efficient use of resources, with an eye to social progress and culture. Even making small changes and considerations, such as ensuring the natural light is able to reach the middle of the building, thereby reducing electrical costs can help.

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Better Safety Equipment
There has been a rise in standards in safety over the last few years, and careless construction working just won’t do. There are a high number of accidents and deaths associated with the construction industry, so a push for better safety equipment has been inevitable. Now, we are finally getting somewhere. There are smart work boots that can connect to Wi-Fi, send their GPS coordinates, and will even tell if users have fallen or are tired. Things like this will eventually be commonplace.

Project Management Solutions
Project management solutions are a huge trend this year. Today, you’ll find that there are many more — and better — construction software options than there were a few years ago. You are able to keep all documents related to the project in one location, which can help subcontractors and contractors get paid at the end of a project, amongst other things. You can even pay attention to the more minute details, such as how many pipe clamps you have or need.

Augmented Reality
Augmented reality is set to change many industries, including construction, for the better. Just one way it will do this is by providing more accuracy and clarity. Workers will be able to use AR to show the entire project before it even starts, saving a lot of time and money. Details will be finalized before the project has even begun, making for a more more efficient project overall.

Self-healing Concrete
Self-healing concrete being used on roads, buildings and homes could become the norm. When self healing concrete comes into contact with air and water, it then produces an outer protective layer. Overall, this will save the construction industry a lot of time and enable them to create safer and more durable buildings for us.

4 Issues You Will Have To Build Around In Construction

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Construction is its own sector with it own set of nuances and considerations. If you’re working this sector or plan to, there some aspects to be aware of. The following contributed post is thus entitled, 4 Issues You Will Have To Build Around In Construction.

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When you are working in the construction industry, you need to be aware of some of the issues that you could end up facing. If you don’t know what these are, then it is going to be hard to prepare for them when the time comes, so it is a good thing that you have stumbled across this article! We are going to talk about four of the issues that you are going to have to build around in construction and how to do this.

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Keeping Connected To Mobile Workers

It is likely going to be the place that not all of your workers are going to be in the same place, at the same time. As such, you are going to need to find a way to stay connected to all of your workers, or else you aren’t going to know who is where, and doing what. This is an important issue that you are just going to have to navigate your way round, and you can do this by using something like Google Hangouts. This way, none of your employee’s personal information has to be shared with others, and you can all keep in touch when necessary.

Paying The Cost Of Business Equipment

Business equipment can cost you a lot of money, and it renting it isn’t going to make it much cheaper. Some companies like to rent the equipment as they believe that it is going to save them money. While this is going to be the case in the short term, it might have dramatic impacts on your finances in the long term. Buying your equipment may seem like a hefty bill now, but further, down the line you are going to thank yourself for putting all the money up at once.

Handling Waste Management And Removal

You are going to have to handle waste management and removal before you can even think about starting a project. There needs to be a plan in place long before you get your equipment set up, and that is why you need to look into hiring environmental consultants. They will be able to come up with a plan for you, tell you everything you need to know and help you in any way possible.

Running A Safe Environment

Safety needs to be your number one priority on the worksite at all times. It doesn’t matter what this means for you, if it means you have to pay a little extra to have safe working conditions, this is what you have got to do. Construction can be dangerous work, but it is your job to ensure that everything is as safe as you can before you let your employees set foot onto a site. Make sure that everyone has the correct safety equipment before they enter, and all your equipment is up to code.

We hope that you have found this article helpful, and now know about four of the issues that you are going to have to build around in the construction industry.

Construction of the Future – Where to Take Your Business Next

Two of the key areas of my focus of my blog are Financial Literacy/Money and Business/Entrepreneurship. A key sector of our economy is construction. It’s cyclical and is very competitive. It’s thus important to strategically know where to take you business. The following contributed post is thus entitled, Construction of the Future – Where to Take Your Business Next.

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The construction market has never been more competitive than it is right now. There are construction businesses popping up right, left and centre, ready to take your customers right underneath your nose. Just because construction relies on some old-school skills, it doesn’t mean the business should never progress. Here’s what you should be thinking about for the future of your construction business.

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Reset Your Goals

When it comes to business, goals should be newly set every year. The construction industry is no different. Perhaps your profit goals will change or maybe you intend on hiring more staff in the future. Whichever goals you set for your business, you need to make sure they are realistic. Every business wants to be successful but trying to run before you can walk could be the death of you. When you want to succeed, your goals should be based on proper research and the evidence of what you can and can’t do.

Find Your Niche

As a construction company, you won’t be able to offer everything. Therefore, it’s important to find a few niches where you can excel and deliver quality products to clients. For example, Ranger excel at rigging. Rather than trying to expand and offer more to your clients, try to focus on how you can better what you already do. Perhaps investing in the latest technology will help you to work quicker and take on more clients as a result.

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Take Work Off Your Plate

When there’s so much work to do, seeking out new contracts can distract you from fulfilling the ones you already have. Using a tendering professional could take your mind off getting new clients so you’re free to work on projects. Applying for big contracts isn’t an easy thing to do, so the more help you have the better. It also takes the pressure off beating the competition to the finish line. Tendering can be a massive weight off your shoulders.

Revolutionise Your Business

As mentioned above, investing in technology can be a great way to take your business to the next level. In fact, if you want to spark the interest of bigger and profitable clients, technology is your best friend. With things like project management software, construction apps and easier ways to stay in touch with clients, your job is made a lot easier. The construction industry is one of the biggest for clients that stay loyal for years, so the better relationship you can create with your clients with the use of technology, the more likely they are to stay.

Online Presence

Your clients aren’t searching through the phone books to find you anymore. If you want to get the right clients, you need to be online and visible. Every business, including those in the construction industry, needs a marketing strategy. Use social media often, consistently update your website and encourage clients to leave positive reviews where potential clients can see them.

Construction of the future is more convenient for both you and your clients, so continue to think outside the box.