Condominium project business plan files can be tough to wrap your arms around, but the best possible presentation will need to touch on all the details associated with your project. The business plan might not need to have schematics or floor plans ready (hey, it might be premature for that!), but showing that you have an area in mind, some potential architects or development partners identified, and a sense of the permitting and licensing matters required for ground-breaking is important. Your plan should also show a timeline of your proposed development, from the point of funding to first sale or occupancy. Even if it is tentative, a GAANT style chart can assist investors in seeing your vision for the condo properties. The plan should also address:
• The style of the properties
• The size of each and number of rooms/baths
• The planned occupancy dates
• The construction cost estimates, by phase
• The breakdown of sales versus rentals for the condos
The business plan for a condominium development can be difficult to piece together because it requires a market analysis on an industry that might be very changeable between the point of initial plan drafting and ground-breaking. Do you know that you'll have sufficient interest in the project to get the units sold or occupied? What does the Census Bureau research show is the current ration between tenants and unit owners in the target market? What sort of people do you envision selling to? Having a solid sense of the demographic profile and commonalities, as well as the income levels and family size of your typical buyer or renter, will be an important element in your marketing plan. List out the implementation strategy and try to identify your proposed sales channels individually, if applicable. Need assistance with this business plan? The experts at MasterPlans can help. Call a consultant on our team today at 877-453-2011.
If you are ready to go, or not sure what kind of plan you need, fill out the form below and we'll call you.