Business plans for sidewalk repair are used by contractors and construction companies that specialize in residential sidewalks to secure financing. Whether your business is already underway or you're hoping to get started in this space from scratch, you will need a document that concisely describes the service suite and looks at the market conditions for the service. In most major metropolitan areas, city engineers will cite homeowners whose properties are in need of sidewalk replacement, which generates a steady stream of potential income for the contractors who make these repairs. In fact, it greatly reduces the marketing cost and increases conversions for repair companies. If you operate in an area like this, simply describe:
• The number of homes by size/type/value in the target region
• The frequency of city inspections, if known
• The prevalence of competing businesses
• The value of this industry year over year
• The strengths and weaknesses of the largest players in this space
The market research can be a challenge because these companies are not likely to be forthcoming about their projects, but you can learn a lot online and by using business intelligence databases like Manta or Dun & Bradstreet (though some of the best reports are “paid” reports). Another great challenge, for many entrepreneurs, is making a convincing financial pro forma. Can you show how you will spend the seed capital, and what your average contract will be worth? When will you hit break-even, and what profitability will you expect within 3 years? Call MasterPlans if you need assistance – we can write this entire plan for you! (877) 453-2011.
