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.
Posts about Good for Business (3)
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.
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.
All-Inclusive Vacation in Construction Land
Recently, while I was on my first all-inclusive vacation in the Caribbean, I realized how much more relaxing and enjoyable it was to know up front what the costs would be and all the activities that were available as part of the resort’s package. I didn’t have to spend my time making separate plans for a hotel, meals, transportation, or entertainment because the package covered it all. With all that was included, I had more than enough options to create an affordable and enjoyable vacation without the hassle of budgeting for my next meal or entertainment and I felt that I was getting way more for my travel budget.
Your Business Plan and Your Building
A critical element of your business plan is a realistic budget for anticipated expenses, along with possible revenue streams. One of the biggest expenses of a business to factor into the budget is the building cost.
Five of the Best Reasons for a Commercial Building Renovation
Commercial Renovation to Stay Put
Whether you really like your building the way that it is, your location is part of your long-term plan, or financially speaking a new building is out of the question, these are all good reasons to stay where you are. However, I’d like to share with you a few of the best reasons to consider renovating your current facility.
1) Improve traffic to your business – we have seen it time and again that renovating a commercial space peaks the interest of people in your community. It also provides additional promotional opportunities because having a renovated space to talk about creates a steady and interesting social media topic. Whether you’re a doctor, restaurant, or a school, you consistently want to attract new people to your space, right? Sharing your remodel should help gain and/or keep followers to communicate the benefits of your services.
Your Building Envelope’s Role in Saving You Money
Keeping your building’s protective barrier, or better known as its envelope, intact, leak free, and in good repair is a great way to avoid spending your hard earned profits on energy costs or damages. The envelope entails any part of your building structure that keeps outside elements from coming inside when closed. This includes your roof, EIFS, windows, doors, walls, and even floors which can leak and make your HVAC work harder, or worse let water in to damage your structure and/or office equipment, or cause harmful microbial growth.
Future of Net Zero Energy Buildings for Michigan Business Owners
We hear about energy efficiency, greenhouse gases, renewable energy, and carbon emissions more frequently these days, but maybe not as popular is Net Zero Energy Building or Net Zero Energy Building Ready. These aren’t new concepts, but with the flurry of attention on energy savings, we wanted to check into the current status for Michigan Commercial Building Owners. Since the Michigan Energy Code (2015) was adopted in 2017 in Michigan, how far are our Commercial Building owners from achieving Net Zero Energy Building Ready?
Protecting Your Investment from Vehicle-into-Building Crashes
Without proper obstruction, motorists accidentally drive their cars into buildings 60 times a day in the U.S., causing damage and loss to businesses and homeowners.
5 Tips to Hosting Your Best Ground Breaking Ceremony
What Is a Groundbreaking Ceremony?
Groundbreaking ceremonies are an excellent way to start off your building project. With the need for content creation the way that it is these days, a ceremony is a sure-fire way to bring excitement and attention to your future building and business.