How do you know when it’s time to build?
There could be a few subtle signs, such as not having room for additional inventory, not having space for additional employees, not having a door for your customers to walk through. You may need to expand. Or, you may be ready for your first owned, not rented, location.
You feel ready, but are you? Are you sure?
Building takes planning and, unless this isn’t your first rodeo, you may not be completely sure you’ve thought of everything.
No sweat. Since this isn’t our first rodeo, we thought of it for you. We have compiled a list of questions to ask yourself (and hopefully answer) as you begin the building process.
So, are you ready to start building? Completing these eight questions will help you answer that confidently.
- Do I have the approval of all interested parties?
- Can plans begin and be completed without interruption?
- What is the “open for business” date I need?
- When will construction have to start to meet this deadline?
- Is financing available?
- Can interim/construction financing be arranged? If so, what are my sources?
- Can long-term financing be arranged? If so, what are my sources?
- Do we need help in obtaining financing? If so, what are my resources.
By having a clearly mapped out plan for your project, you’ll hit fewer snags and complications along the way. Answering these questions before even starting will get you on the right track to finally having that inventory room, that work room, and that door you can – if you so desire – decorate with a loud bell.
Check back over the next few weeks as we tackle this ongoing series and outline the questions you’ll want to answer at each step of the building process.
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