Your custom home builder business plan will become your roadmap to success.
Over the next few years, your well-written, thoughtful, realistic home builder business plan will help you to:
- Outline your business goals and mission
- Clarify these goals — and define some strategies — for your staff
- Attract new investors
- And gain access to working capital and loans
The US Small Business Administration (SBA) says it best, “You’ll use your business plan like a GPS for how to structure, run, and grow your new business. It’s a way to think through and detail all the key elements of how your business will run.”
Your home builder business plan will be a critical document. Today, the AtlasRTX team is here to discuss five steps you should take to write an outstanding paper. Your first step is to tally up your current assets.
This is like creating a list before heading to the big box home builder supply store. You can only buy supplies to start a building project once you know what’s on hand. From there, you can create a list of needs.
1. Identify Your Assets
Your list of assets should include more than cash. Assets are also:
- Real property (both land and commercial structures)
- Vehicles and heavy equipment
- Tools
- Staff
- Office systems
- Professional licenses and certifications
- Accounts receivable (money owed to you)
- And even insurance policies
Banks and investors need to know what you’re worth, and these assets help define a value for your organization. Starting with an asset list will clarify your shortcomings and needs.
2. Identify Your Needs
Every home-building organization exists to generate income. Naturally, your business needs ongoing income and growth from year to year.
Financial institutions need to know how you will spend future funds. Will you have access to more collateral in the form of new work trucks or a crane? What about updated office equipment or expensive software?
When creating your new home construction business plan, consider your organization’s current status and the growth you hope to achieve.
You may need:
- More staff or highly specialized employees
- A better phone system
- Updated electronics
- Updated office furniture
- A remodeled lobby
- Advertising funds
You can move to step three once you identify your needs for the next few years.
3. Develop Your Goals for the Next 3 to 5 Years
Now that you know what you have and need, developing goals on paper is easy.
Your home builder business plan should outline your goals and develop a rough plan to accomplish them.
You may need to:
- Increase overall revenue by increasing total sales
- Improve your reach by advertising new regions
- Improve community goodwill and reputation by hosting some events
- Build a better, more interactive website to improve customer relationships
Every organization is unique, but these are some ideas to get you started. Now, it’s time to get writing.
4. Draft Your Home Builder Business Plan
It’s time to write!
Your first home builder business plan draft can include all sorts of wishes, aspirations, and pie-in-the-sky notions. Go ahead and write them; get them out of your head and onto paper. (You will edit them out later.)
We’ve linked free templates below if you need help writing your draft.
Finally, it’s time to edit.
5. Edit Your Home Builder Business Plan
Proofread your custom home builder business plan closely, and ask someone you trust to proofread it, too. Remove any goals that seem too lofty or unrealistic.
Be sure to spell-check your document, then print and reread it. Watch out for clunky wording, and check your math and numbers closely. A misplaced decimal point or missing comma will look unprofessional.
Finally, it’s time to print the final version. Use high-quality, heavyweight paper and put your document in a presentation folder for that final touch of professionalism. You’ve worked hard on this document, so make sure it’s presented with the care it deserves.
