Are you about starting an architectural company? If YES, here’s a complete sample architectural firm business plan template & feasibility report you can use for FREE to raise money.
Okay, so we have considered all the requirements for starting an architectural business. We also took it further by analyzing and drafting a sample architectural service marketing plan template backed up by actionable guerrilla marketing ideas for architectural firms. So let’s proceed to the business planning section.
All over the word the real estate business is such that have done so well in terms of patronage and it isn’t a news that those in the architectural line are one of the people who makes erecting buildings possible. It is for this reason that a lot of people are known to throng into the trade from all parts of the world. It is indeed a great business to delve into as well as live on.
One of the first steps to take in starting the business is to first of all be sure that you are conversant with the trade. You may want to consider studying an architectural related course in school so that you can learn all the basic ropes that have to be learnt.
Thereafter, you will need other researches to pull through. Run a feasibility research on the industry in general; speak with experts and what have you. As you plan to launch out in trade, you will also need to write a good and detailed business plan.
This might pose a threat especially if you do not know a thing about drawing up a plan. This is where working with a template comes to play Here is a sample Architectural business plan for your use:
A Sample Architectural Firm Business Plan Template
1. Industry Overview
Architects play a major role in the construction industry, as a matter of fact, architects are responsible for the planning and designing of residential, institutional, recreational, commercial and industrial buildings and structures by applying their knowledge of design, construction procedures, zoning regulations, building codes and building materials et al.
Hence, the architectural services industry is made up of firms who primarily engaged in planning and designing residential, institutional, leisure, commercial and industrial buildings and structures by applying knowledge of design, construction procedures, zoning regulations, building codes and building materials.
A close watch shows that he Architectural Services industry has finally begun to experience steady recovery from the economic downturn, although revenue remains below the industry’s 2007 peak due to the prolonged effects of the market crash of the real estate industry.
On the other hand, the construction market has recently shown sign of recovery, with the values of both residential and nonresidential construction rising over the last five years. Furthermore, firms’ cost-cutting efforts during the economic downturn have improved profit margins, even as the industry’s workforce has once again begun to expand.
Going forward, environmentally friendly design will increase in importance to architecture firms as downstream construction markets continue to improve and the industry proceeds with its recovery. The Architectural Services industry is indeed a large industry and pretty much active in countries such as United States of America, United Kingdom, France, Italy, Holland, Switzerland, Japan, China, Germany, and Canada et al.
Statistics has it that in the united states of America alone, there are about 80,948 registered and licensed Architectural Services firm responsible for employing about 217,640 and the industry rakes in a whooping sum of $38 billion annually.
The industry is projected to enjoy 2.9 percent annual growth. It is important to state that there is no establishment in this industry that has a lion market share. Over and above, the Architectural Services industry is characterized by many small-scale consultants, often individual proprietors and partners who operate in narrow geographic markets.
Although a majority of industry establishments do not have a payroll, non – employers generate only about 10.0 percent of the industry revenue. The fragmented nature of this industry is also evident when comparing the size of enterprises that have employees.
IBISWORLD projected that in 2016, an estimated 67.4 percent of firms with a payroll have fewer than five employees and only 1.0 percent of firms have more than 100 workers. The industry’s low level of concentration means that no firm holds a dominant position in the market.
It was also estimated that the four largest players in this industry account for less than 5.0 percent of the total revenue to be generated in the industry in 2016
One thing is certain about starting an architectural firm, if you are able to conduct your market research and feasibility studies, you are more likely not going to struggle to secure clients because there are always individuals, constructions companies and corporate organization who would want to hire your services from time to time.
Lastly, as an architectural firm, you can afford to partner with other firms that are into construction and building services. You can partner with construction companies, you can partner with real estate firms and you can partner with the government et al.
The bottom line is that, if you have a robust network and you are well positioned, you can indeed maximize your architectural services business.
2. Executive Summary
Kent De Clark® Architectural Firm, LLP is a registered and licensed architectural services firm that will be based in New York City – New York.
The firm will handle all aspect of architectural design related services; services such as planning and designing residential, institutional, leisure, commercial and industrial buildings and structures by applying knowledge of design, construction procedures, zoning regulations, building codes and building materials and other related tax return preparation services.
We are aware that to run a standard architectural services firm can be demanding which is why we are well trained, certified and equipped to perform excellently well. Kent De Clark® Architectural Firm, LLP is a client – focused and result driven architectural services firm that provides broad- based services at an affordable fee that won’t in any way put a hole in the pockets of our clients.
We will offer a standard and professional architectural design services to all to our individual clients, and corporate clients at local, state, national, and international level. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they hire our services.
At Kent De Clark® Architectural Firm, LLP, our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in the architectural services industry
Kent De Clark® Architectural Firm, LLP will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Our plan is to position the business to become the leading brand in the architectural services industry in the whole of New York City – New York, and also to be amongst the top 20 architectural firm services businesses in the United States of America within the first 10 years of operations.
This might look too tall a dream but we are optimistic that this will surely be realized because we have done our research and feasibility studies and we are enthusiastic and confident that New York City – New York is the right place to launch our architectural services firm before sourcing for clients from other cities in The United States of America.
Kent De Clark® Architectural Firm, LLP is founded by Kent De Clark and Willy Brian, his business partner for many years. The organization will be managed by both of them since they have adequate working experience to manage such business.
Kent De Clark has well over 5 years of experience working at various capacity within the architectural services industry in the United States of America.
Kent De Clark is a graduate of Columbia Graduate School of Architecture, Planning, and Preservation Columbia University and Willy Brain graduated from Yale School of Architecture, Yale University. They both have the required experience and qualifications to build a world class architectural firm.
3. Our Products and Services
Kent De Clark® Architectural Firm, LLP is going to offer varieties of services within the scope of the architectural services industry in the United States of America. Our intention of starting our architectural services firm is to favorably compete with leading players in the architectural services industry both in the United States of America and in the world at large.
We are well prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition. Our business offering are listed below;
- New project architectural services
- Renovation and rehabilitation architectural services
- Basic designing
- Providing construction phase services
- Planning and providing predesigned services
- Interior designing and providing building fit-out services
- Construction project management
- Planning and predesigned
- Feasibility studies
- Landscape and urban design
- Building and Facility restoration
- Building architectural design services
- Other architectural design services consulting and advisory related services
4. Our Mission and Vision Statement
- Our vision is to build an architectural services brand that will become the number one choice for both smaller businesses and corporate clients in the whole of New York City – New York. Our vision reflects our values: integrity, service, excellence and teamwork.
- Our mission is to position our architectural services firm to become the leading brand in the architectural services industry in the whole of New York City – New York, and also to be amongst the top 20 architectural services firms in the United States of America within the first 10 years of operations.
Our Business Structure
Normally we would have settled for two or three staff members, but as part of our plan to build a standard architectural services firm in New York City – New York, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent, honest and hardworking employees to occupy all the available positions in our firm.
The picture of the kind of architectural services business we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around New York City – New York as long as they are willing and ready to work with us to achieve our business goals and objectives.
Below is the business structure that we will build Kent De Clark® Architectural Firm, LLP;
- Chief Executive Officer
- Architects
- Admin and HR Manager
- Marketing and Sales Executive
- Accountant
- Customer Care Executive/Front Desk Officer
5. Job Roles and Responsibilities
Chief Executive Office:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Architects
- Responsible for creating building designs and highly detailed drawings both by hand and by using specialist computer-aided design (CAD) applications
- Responsible for liaising with construction professionals about the feasibility of potential projects
- Responsible for working around constraining factors such as town planning legislation, environmental impact and project budget
- Works closely with a team of other professionals such as building service engineers, construction managers, quantity surveyors and architectural technologists
- Applies for planning permission and advice from governmental new build and legal departments
- Responsible for writing and presenting reports, proposals, applications and contracts
- In charge of choosing the materials to be used and specifying the requirements for the project
- Adapts plans according to circumstances and resolving any problems that may arise during construction
- Responsible for making sure the project is running according to schedule and budget
- Plays a part in project and team management
- Travels regularly to building sites, proposed locations and client meetings
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Design job descriptions with KPI to drive performance management for clients
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Oversee the smooth running of the daily office activities.
Marketing and Sales Executive
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of relevant projects.
- Writes winning proposal documents, negotiate fees and rates in line with company policy
- Responsible for handling business research, marker surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company
Accountant
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- create reports from the information concerning the financial transactions recorded by the bookkeeper
- Prepares the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the company
Client Service Executive/Front Desk Officer
- Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
- Receives parcels/documents for the company
- Distributes mails in the organization
- Handles any other duties as assigned my the line manager
6. SWOT Analysis
Kent De Clark® Architectural Firm, LLP engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a well – structured architectural services firm that can favorably compete in the highly competitive architectural services industry.
Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Kent De Clark® Architectural Firm, LLP. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Kent De Clark® Architectural Firm, LLP
- Strength:
Our core strength lies in the power of our team; our workforce. We have a team that can go all the way to give our clients value for their money; a team that are trained, qualified and equipped to pay attention to details and to deliver excellent architectural designs. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.
- Weakness:
As a new architectural services firm, it might take some time for our organization to break into the market and gain acceptance especially from big corporate clients in the already saturated architectural services industry; that is perhaps our major weakness. So also we may not have the required cash to give our business the kind of publicity we would have loved to.
- Opportunities:
The opportunities in the architectural services industry is massive considering the number of construction and real estate companies who can’t do with key services provided by only the architectural industry. As a standard and well – positioned architectural service firm, we are ready to take advantage of any opportunity that comes our way.
- Threat:
Some of the threats that we are likely going to face as an architectural service firm operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing / spending power.
There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.
7. MARKET ANALYSIS
- Market Trends
The architectural services industry is indeed a very large industry and of course it is one industry that works for businesses basically within the real estate industry and construction industries.
It means that to survive as an architectural firm, you would need to network with major players in the aforementioned industries and not ignoring government because in most countries of the world, the government at all level are the major players in the construction industry.
It is a bit challenging for new entrant to come into this industry; the primary barrier to the entry for new establishment is the stiff registration requirements applicable in most countries not just the United States of America.
As a matter of fact, architectural firms cum Architects must comply with local licensing criteria set out by registration boards and professional associations to obtain registration in their country or the state they want to operate from. This usually requires applicants to hold an accredited tertiary qualification before they can undertake written tests of skills, knowledge and abilities; and often to gain practical experience working with a local architect’s office.
A close watch of happenings in the architectural services industry shows that over the last five years, global investment into commercial building developments collapsed, leading to faltering demand for the industry’s services, particularly in the United States, Europe and Japan.
However, growth in emerging economies mitigated some of the industry’s declines. In the coming years, rising business sentiment will boost investment in building construction and for architectural design services. In addition, rising demand for environmentally friendly building will provide growth opportunities for operators.
8. Our Target Market
The demographic and psychographics composition of those who need the services of architectural services providers cuts across both small businesses and large corporations.
Kent De Clark® Architectural Firm, LLP will initially serve small to medium sized business, from new ventures to well established businesses and individual clients, but that does not in any way stop us from growing to be able to compete with the leading architectural service firms in the United States.
As a standard and licensed architectural service firm, Kent De Clark® Architectural Firm, LLP offers a wide range of financial consulting services hence we are well trained and equipped to services a wide range of clientele base.
Our target market cuts across businesses of different sizes in both the construction and the real estate industries. We are coming into the industry with a business concept that will enable us work with the small businesses and bigger corporations in and around New York City – New York and other cities in the United States of America.
Below is a list of the businesses and organizations that we have specifically design our products and services for;
- Construction Companies
- Real Estate Firms
- Individuals
- Households
- Blue Chips Companies
- Corporate Organizations
- Religious Organizations
- Hotels and Restaurants
- The Government (Public Sector)
Our Competitive Advantage
The level of competitions in the architectural services industry depends largely on the location of the business and of course the business model. If you can successfully create a unique brand identity for your architectural services firm or carve out a unique market, you are likely going to experience less competition.
For instance if you are one of the few architectural service firms in your locations that has the most qualified and experienced architects under your payroll, you are likely going to have a competitive advantage over your competitors.
We are quite aware that to be highly competitive in the architectural services industry means that we should be able to deliver consistent quality designs and services, our clients should be able to pay for our services and we should be able to meet the expectations of clients.
Kent De Clark® Architectural Firm, LLP might be a new entrant into the architectural services industry in the United States of America, but the management staffs and owners of the business are considered gurus. They are people who are core professionals and licensed and highly qualified architects and design experts in the United States. These are part of what will count as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (start – ups architectural services firm) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Kent De Clark® Architectural Firm, LLP is established with the aim of maximizing profits in the architectural services industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign retainer – ship with most of our clients especially government clients.
Kent De Clark® Architectural Firm, LLP will generate income by offering the following architectural services for construction companies, real estate firms, and the government and for corporate organizations et al;
- New project architectural services
- Renovation and rehabilitation architectural services
- Basic designing
- Providing construction phase services
- Planning and providing predesigned services
- Interior designing and providing building fit-out services
- Construction project management
- Planning and predesigned
- Feasibility studies
- Landscape and urban design
- Building and Facility restoration
- Building architectural design services
- Other architectural design services consulting and advisory related services
10. Sales Forecast
One thing is certain, there would always be construction companies, real estate firms, and the government and for corporate organizations et al who would need the services of professional architectural services providers.
We are well positioned to take on the available market in New York City – New York and other key cities in the United States of America and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond New York City to other cities in New York and other states in the U.S.
We have been able to critically examine the architectural services market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in New York City – New York.
Below are the sales projection for Kent De Clark® Architectural Firm, LLP, it is based on the location of our business and the wide range of architectural related services that we will be offering to our clients;
- First Fiscal Year-: $250,000
- Second Fiscal Year-: $450,000
- Third Fiscal Year-: $1 million
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are mindful of the fact that there is stiffer competition amongst architects and architectural service providers and other related building design service providers in the United States of America, hence we have been able to hire some of the best business developer to handle our sales and marketing.
Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization.
We will also ensure that our excellent designs and job deliveries speaks for us in the marketplace; we want to build a standard and world – class architectural service firm that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).
Our goal is to grow our architectural service firm to become one of the top 20 architectural service firms in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the New York City – New York, but also in other cities in the United States of America.
Kent De Clark® Architectural Firm, LLP is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our architectural services business by sending introductory letters alongside our brochure to construction companies, real estate firms, corporate organizations, households and key stake holders in New York City and other cities in New York.
- Promptness in bidding for architectural design contracts from the government, construction companies, real estate firms and other corporate organizations
- Advertise our business in relevant construction and real estate related magazines, newspapers, TV stations, and radio station.
- List our architectural services firm business on yellow pages ads (local directories)
- Attend relevant international and local finance and business expos, seminars, and business fairs et al
- Create different packages for different category of clients (start – ups and established corporate organizations) in order to work with their budgets and still deliver quality architectural design cum services to them
- Leverage on the internet to promote our architectural services firm
- Engage in direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
11. Publicity and Advertising Strategy
Any business that wants to grow beyond the corner of the street or the city they are operating from must be ready and willing to utilize every available means (both conventional and non – conventional means) to advertise and promote the business. We intend growing our business which is why we have perfected plans to build our brand via every available means.
We know that it is important to create strategies that will help us boost our brand awareness and to create a corporate identity for our architectural services firm business. Below are the platforms we will leverage on to boost our brand and to promote and advertise our business;
- Place adverts on community based newspapers, radio stations and TV stations.
- Encourage the use of word of mouth publicity from our loyal customers
- Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
- Ensure that we position our banners and billboards in strategic positions all around New York City – New York
- Distribute our fliers and handbills in target areas in and around our neighborhood
- Contact construction companies, real estate firms, and the government and corporate organizations et al by calling them up and informing them of Kent De Clark® Architectural Firm, LLP and the services we offer
- Advertise our business in our official website and employ strategies that will help us pull traffic to the site
- Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.
12. Our Pricing Strategy
Pay per design, project and hourly billing for architectural design services is a long – time tradition in the industry. However, for some types of architectural design services, flat fees make more sense because they allow clients to better predict service costs.
As a result of this, Kent De Clark® Architectural Firm, LLP will charge our clients a flat fee for many basic architectural design services et al.
At Kent De Clark® Architectural Firm, LLP we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises.
We are aware that there are some clients that would need regular access to architectural consultancy and advisory services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs. So also, we aware of government contracts, we will ensure that we abide by the bidding requirement for such contracts.
- Payment Options
The payment policy adopted by Kent De Clark® Architectural Firm, LLP is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Kent De Clark® Architectural Firm, LLP will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services.
13. Startup Expenditure (Budget)
When it comes to calculating the cost of starting an architectural firm, there are some key factors that should serve as a guide. Factor such as have printing machine you need in house or outsourcing your printing jobs to other services providers.
Besides, in setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.
As for the detailed cost analysis for starting an architectural services firm business; it might differ in other countries due to the value of their money. Below are some of the basic areas we will spend our start – up capital in setting up our architectural services firm;
- The total cost for hiring Business Consultant – $2,500
- The Amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000
- The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400
- The Total Fee for incorporating the Business in the United States of America – $750.
- The Cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $5,000
- Marketing promotion expenses for the grand opening of Kent De Clark® Architectural Firm, LLP in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- The cost for purchase of the required software applications (CAD Software, Architectural software, CRM software, and Accounting Software et al) – $10,500
- The Cost of Launching your official Website – $600
- Budget for paying at least three employees for 3 months plus utility bills – $10,000
- Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
- Miscellaneous: $1,000
Going by the report from the market research and feasibility studies conducted, we will need over one hundred and fifty thousand (150,000) U.S. dollars to successfully set – up a small scale but standard architectural services firm in the United States of America.
Generating Funding / Startup Capital for Kent De Clark® Architectural Firm, LLP
No matter how fantastic your business idea might be, if you don’t have the required money to finance the business, the business might not become a reality. No doubt raising start – up capital for a business might not come cheap, but it is a task that an entrepreneur must go through.
Kent De Clark® Architectural Firm, LLP is a business that will be owned and managed by Kent De Clark and his business partner Willy Brain. They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Kent De Clark® Architectural Firm, LLP is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our architectural design services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Kent De Clark® Architectural Firm, LLP will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner of our business strategy.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check:>Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress.
- Application for business license and permit: Completed
- Securing a standard office facility (renovation of the facility inclusive): Completed
- Purchase of All form of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founder: Completed
- Applications for Loan from our Bankers: In Progress.
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress.
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress.
- Purchase of the Needed software applications, furniture, office equipment, electronic appliances and facility facelift: In Progress.
- Creating Official Website for the Company: In Progress.
- Creating Awareness for the business (Business PR): In Progress.
- Health and Safety and Fire Safety Arrangement: In Progress.
- Establishing business relationship with vendors and key players in the industry: In Progress.