Business Plan for Omega Construction Service (Essay Sample)

Business Plan for Omega Construction service
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Business Plan for Omega Construction service
I. Table of Contents
I. Table of Contents
II. Executive Summary
a. Summary of Major Business Plan Components
III. Company Overview
a. General Description of the Business
b. Business Location
c. Company History
IV. Missions, Goals, and Objectives
a. Mission Statement
b. Goals and Objectives
c. Values
d. Keys to Success
V. Organization
a. Management Summary and Strategy
b. Services Offered
c. Organizational Chart
d. Employee Roles and Job Descriptions
VI. Market Conditions
a. Background Industry Information
b. Region Specific Background Industry Information
c. Regional Competition
d. Current and Future Trends
VII. The Financial Plan
a. Startup Funding Description
b. Accounting Practices
c. Current Balance Sheet
d. Break-even Analysis
e. Projected Monthly Income Statement (One Year)
VIII. The Marketing Plan
a. Marketing Strategies
i. Promotional Strategies
ii. Public Relations
iii. Advertising
IX. The Safety Plan
II. Executive Summary
Mission Statement
The company aims at targeting commercial clients that will assure them of high profit margins and at the same time ensuring its affordability.
Goals and objectives
The company targets expansion to ensure that to ensure that it taps into the commercial contracting market and the office building market.
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III. Company Overview
Omega Construction services is a renowned firm that provides commercial facilities, homes and renovations. The company is responsible for handling the various aspects of your home or office structure’s build. This includes upkeep and maintenance, windows, roofing, dormers, extensions, interiors and concrete. The firm boasts of 15 years of quality and professionalism that goes beyond the expectations of the client. The company ensures that the client receives value for their investment from the inception to the handover stage. The company delivers top-notch services at price that is fair and honest. Time is also an important factor at Omega Construction.
Omega construction acts as an extension of their clients and it emphasizes on professional services and personal attention to ensure that their needs are met. This ensures that a level of professionalism is set out from the pre-construction face to the close-out of the project. The goal is to develop a mutual relationship with the clients based on reliability, trust, and quality service.
* General Description of the Business
Omega construction intends to venture into the construction business. The business is classified into two phases. This includes the pre-construction phase and the post-construction phase. Omega Construction aims at developing high quality and cost-effective facilities that are highly innovative for them to attain a competitive edge in the market. The firm is involved in construction from the inception and design phase of construction. It works hand in hand with the Clients design team to ensure that the client receives value for their money (ABRAMS, 2003, 29).  The pre-construction phase entails a review of drawings and scope of work to ensure that they understand what the project team requires. It also entails identifying the costly items, providing alternatives, as well as, identifying the budget constraints. Finally, it entails detailed planning of the construction phase.
The construction face involves ensuring that the objective of the client is met. The various aspects of the project are detailed with concise statements indicating the various challenges, cost-effective chances, as well as, detailed budgeting. This ensures that the entire project team is in the same page thus ensuring direction and correct pace. The main objective of this is to ensure that the project runs o budget and on time.
* Business Location
The company will be located in Minoa in New York with plans of expanding to other regions.
IV. Missions, Goals, and Objectives
* Mission Statement
Omega Construction intends to construct affordable housing facilities. This will be attained by establishing an honest and fair working relationship with the various stakeholders that are involved in the construction sector. This includes the new homeowners, sales people, and sub-contractors. This will ensure that an atmosphere where families and entrepreneurs can enjoy the satisfaction and pride that comes with designing their own facility.
* Goals and Objectives
Omega Construction plans to achieve various goals and objectives. This includes the expansion of the company to ensure that it taps into the office building and commercial contracting market. This is in an attempt to increase the local market share and increase the profit margins. It also intends to minimize cost and expand services by hiring a permanent painting team, an additional bookkeeper and accountant the members of staff. The final objective is to expand into other regions to expand the market share.
* Keys to Success
The local construction industry is one that has been experiencing a boom at the moment. This has acted as a wake-up call for the firm to come up with strategies that will act as the key to its success. For this to be realized, Omega Construction has to concentrate on various areas. This includes securing a minimum five construction projects that are on scale within a three year period. The next key is to expand the customer base by promotion in other regions to expand the profitability margins. The final key is to increase the revenues allocated to marketing by at least 15% (ABRAMS, 2003, 29).
Background Information
The Industry
The construction industry is comprised of establishments that are mainly involved in construction. This includes buildings and engineering projects such as roads. This also comprises the establishments that are engaged in dividing land for sale as construction projects and preparation of sites for upcoming projects.
The construction services offered include new projects, maintenance and upkeep, as well as, alterations. Construction companies are managed from fixed areas of business where they plan and coordinate work for the multiple construction projects in different locations. The requirements of the client are specified in prime contracts. The main contractor may then sub-contract various construction services especially those involving high level of expertise (GERSTEL, 2002, 91).
V. Organization
Omega Construction service is planned to be a partnership business. This partnership was established since the two business partners had a common interest. This was to explore viability of the business arrangement and a passion in offering top-notch construction services and professionalism. The partnership arrangement also allowed the most flexibility and minimal amount of financial engagement for both partners. Since the inception of the business, it has consistently been growing and it is projected to continue being successful (GERSTEL, 2002, 91).
The business will become a limited liability company. This will be important since it establishes the firm as a separate entity. This also ensures that the business will continue running regardless of what happens to the partners. This will be achieved by December 31, 2015. The partners will share the ownership rights of the business equally. They also intend to involve their spouses due to the essential role that they play in the administration of the company. This is also a move to ensure that the financial investments from both partners are protected.
¯ Management Summary and Strategy
The management strategy that is adopted by Omega Construction is detailed in the organizational chart. The firm aims at defining the employee and owner relationship to ensure that the various members of the team are aware of what is expected of them. The management has categorized the various stages and construction activities into 7 categories. This includes business management, estimating, project management, construction, engineering, equipment management and accounting.
The partners are well aware that they will perform well and work in a smart way if they make the crucial decisions as a team. The partners are adamant about professionalism to ensure that they achieve their mission and vision. The members of the management team are expected to bring on board a different and unique perspective to the business operations of Omega Construction.
* Services Offered
Omega Construction will offer a wide range of services that aims at involving the client to ensure that their projects are carried forward to completion. Emphasis will be laid on quality in terms of cost and time to ensure that high standards of professionalism are maintained. These services include design work, alterations and remodeling, carpentry, site preparation, and carpentry. It will also offer painting, plumbing and installation of utilities, as well as, exterior innovation and cement foundation services (GERSTEL, 2002, 91).
* Organizational Chart
The organizational chart for Omega Construction is expected to present the organizational structure for Omega Construction in a pictorial form. This will show the various positions of responsibility, as well as, the various lines of supervision and authority. This will play an essential role in ensuring that the Clients and members of the public can understand the structure of the company at a glance thus enhancing its marketability.
It is highly efficient since it defines the position of the individual employees within the overall company, identifies the supervisors, as well as, those they supervise. It also des...