Approximately 10 years or more is needed for healthcare practice owners to prepare to retire.1 As doctors become owners of their practice, they may not yet be thinking about retirement, however succession planning should start very early as part of their business plan and then adjusted as time goes on and retirement becomes more than a thought.
Revealing the Past: The Importance of Property Surveys
If you’re looking to purchase a property or building for your business, most financial institutions require you to have a property survey to qualify for their loans. Some owners who use a cash transaction don’t always get a property survey, but if they did, they could prevent many issues by knowing all the details and history about their property.
How Economies of Scale Works in Construction
Ray is the owner of a large corporation with his operation spanning over two locations. When he outgrew his initial office, he got a great deal on a warehouse that was easily adaptable to expand his business. Now, after years of hard work and smart decisions, he’s outgrowing both locations and has decided that it will be more efficient for his operation to all be under one roof. But speculating on the costs involved, Ray is wondering if this is the best decision for his company right now? What Ray may not be considering is economies of scale. With his building being bigger, the duration of the project longer, and the fixed fees being the same, he can benefit from the efficiencies that his Design-Builder will experience, which will lower the square footage cost.
Precast Concrete Wall Panel Options for Construction Efficiency
Precast Concrete Wall Panel Options for Construction Efficiency
Construction efficiency is a critical factor that can significantly impact timelines and overall project success. The combination of precast concrete wall panels and structural steel and insulation offers a powerful solution to achieve efficiency when needed in construction projects. Wall panel system construction is gaining popularity due to its labor and time savings to erect a building envelope. Precast concrete walls with conventional steel roof framing are one option to use on a large commercial building. Made of a variety of concrete materials, walls are poured in an indoor, controlled environment to the specs of your building’s needs, as specified by your Architect or Engineer (A/E). Each 10,000+ lb. (approximate) panel and other precast parts are then transported on a large truck bed to your building’s site to be put in place by a crane, assembled by a crew that welds/connects them to structural steel and then caulks the gaps to create an energy efficient, structurally sound, quickly installed building envelope ready for your interior buildout.
The Role of Economic Development Agencies for Business Prosperity
In the modern world, Economic Development Agencies (EDAs) are playing a critical role in helping cities, states, and even countries reach their economic potential. Economic growth is what makes communities thrive by expanding a tax base and offering a quality of life for residents through employment, commerce, infrastructure, and entertainment. Business owners can benefit from EDA services and incentives to expand or start their business. The EDAs work with private funds, local foundations, schools, and government to name a few to match incentives that will keep or bring economic growth to their region.
SBA 504: Funding Business Growth with Less Capital
This blog is intended for small business owners who are looking to grow their business. Have you had a net worth under $15M and an average net income less than $5M for the past 2 years? Do you own your building or want to own your building? Are you still with me? If so, there’s a less risky way to fund your business growth, and the best part is that it’s meant to keep capital in your business so that you can support economic growth in your community.
You Risk Paying Twice When Sub-Contractors Don’t Pay Their Bills
Liens Can Wreak Havoc on Funding
By Brian Stadler, Wolgast CEO
If you haven’t built a building in the last couple of years, you may be surprised when your banker tells you that they want to hire a Title Company to handle all of your payments to not only the General Contractor, but also directly to the General Contractor’s second tier Sub-Contractors. On top of that, that they expect you, the owner, to guarantee to the Bank and the Title Company that the project will be lien-free during construction.
Benefits of Building an Athletic Fieldhouse for Your School
School Districts require a lot of coordination to make their multi-sports programs work seamlessly. For a while now, adding an auxiliary gymnasium onto the school building or a wrestling practice room that can double as a cheerleading practice space, has been the answer to make room for all teams to have needed practice space. Now, School Administrators are discovering that Athletic Fieldhouses, if they have space within their campus, are a better choice because they offer more flexibility for students and their community.
Preparing Your Business for a New Buyer
Bruce has owned his business for more than 30 years and he’s ready to retire. He is five years under the retirement age and has no interested children to take over this operation. He has poured his blood and sweat into his business for most of his life. Bruce has a few options. He can close the doors, walk away, and lay off his staff of 25, he can sell the business and the building to an interested party and use the money to supplement his retirement savings, or he can find someone who wants to buy the business and then lease the building to him or her, keeping rental income for continual cash flow.
What Are Design-Build Services?
Design-Build Construction is a project delivery method in which a building owner forges a single contract with one entity for architectural/engineering design services and construction services. Known as the Design-Builder, the entity becomes the single-source that is responsible for designing, hiring subcontractors, coordinating the schedule and building the structure on the client’s behalf. Wolgast offers a phased approach to identifying a client’s building scope, budget, schedule, final design, construction and warranty.