Are you planning a big commercial construction project? It's a big undertaking that will have a major impact on your business both during and after construction. The best way to get through it with as few hiccups as possible is by having the right team in place.
Who should be on your business construction team? Here are five key people.
Lawyer. There can be a lot of city zoning and permit issues with a big construction project as well as contracts that need to be completed. For these and other things that will pop up unexpectedly during all phases, you should talk with your company's lawyer before embarking on the project. You may also need to work with an attorney in the firm who has more experience with commercial construction.
Commercial Lender. Securing a commercial construction loan for a construction project is one of the first and biggest challenges for many businesses. Work with a construction loan lender as early in the planning as possible. You may need time to boost your business and/or personal credit score, put together the documents needed for the loan, and go through the qualification steps.
Internal Manager. No matter what project manager the construction company assigns to your work, you need an internal manager as well. This will be the point person for the builders to work with, the person that employees or others should ask questions of, and the person who will keep things updated and on time.
Marketing Department. This big change within your business needs to be handled properly so that it enhances business rather than takes away from it. Bring your marketing or advertising department into the team early so they can begin preparing a marketing campaign around it. Think about the impact that this project will have on existing orders and processing or services during construction, future customer pools, expansion into new markets, or efficiency.
Accountant. One of the (or even the first) people that should be on your construction project team is your company's accountant. This is the person who can help you build a budget for the new work, fund it, qualify for commercial construction loans, and determine how long it will take to make back your money.
While there are many more people who will undoubtedly be involved in your big building project, these five core members are key to managing your budget, securing financing, and keeping things running smoothly. With them on board, you'll see better results quicker.
