Are you going to write a construction business plan? here is a sample SWOT analysis for a construction company to help you develop a competitive strategy.
Economic analysis of a business plan for construction
Starting a construction business isn’t the same as starting a mom-and-pop business on a street corner in downtown Los Angeles; this is a really serious business, so critical economic analysis should be done to ensure that the risks and other threats associated with starting or investing in a business are mitigated.
If you are considering starting a construction business, your concern shouldn’t be limited to buying and equipping offices or hiring the best workers in the industry; You should also be interested in how to attract investors who can receive the funds necessary for the successful implementation of projects, as well as how to provide shareholders / partners with good returns for their money.
Finally, it’s important to note that heavy construction machinery and equipment can be expensive, and a good thing about construction machinery and equipment is that it can be rented. But you need to make sure you do a detailed economic analysis to find out whether leasing or purchasing the right construction equipment and machinery will benefit you in the short or long term.
Example of a SWOT analysis of a construction business plan
To survive in the business world as a construction company, you need to know not only how to complete standard projects, but also how to work online. with the key people who matter; the decision-makers who can decide to whom the project is entrusted and all that. We know it will be a bit difficult to compete with construction companies based in the United States, especially since we are new to the industry.
To position our company well for its growth and competitiveness in the construction industry, we have hired Dr. Joe White, a renowned human resources and business consultant in the United States of America, to help us conduct the SWOT analysis.
It is important that we know our strengths, weaknesses and the opportunities we can exploit in the industry, as well as the threats we are likely to face. With this, we will be able to define strategies that will not only help us survive in the industry, but also build a brand of global construction. Here is a summary of the results of the SWOT analysis carried out on behalf of the construction company Shannon Berg:
Shannon Berg construction company can confidently boast of a knowledgeable and experienced management team, considered one of Michigan’s best hands.
Although we are a new construction company, our President and Board of Directors are eminent individuals in the United States of America who have served the United States government in various positions; we are a construction company with the right network for the type of business we do.
Being a new construction company can be seen as a weak point, it is normal for clients to think twice before entering into construction contracts with newcomers to the industry. Another weakness that we face in the industry is that we may not have the financial strength to do business as we should. We need a huge financial base to be able to buy the latest heavy construction equipment.
Our business concept, mission and vision place us at the forefront of the industry. We will start small to build trust in Grand Rapids, Michigan, and there will be plenty of opportunities there just because we are well positioned to work with state government and the highly organized private sector.
Typically, in the construction industry, pre-existing construction companies and start-up construction companies are exposed to threats from government policies, the global economic downturn and unforeseen natural disasters (disasters that can lead to failures).
These are the threats we’ll likely face as a newcomer to a construction company in Grand Rapids, Michigan. Another threat that we are likely to face is the emergence of a large construction company in a place where our activity is widely represented.
