One of the biggest challenges of any commercial construction project is keeping within budget. With so many different aspects of a project — from property costs to the final touches — expenses add up quickly. In fact, money-related concerns are often the biggest source of stress when turning a lifelong dream for your business into a reality. You can help keep expenses manageable by following some smart strategies throughout the construction process. Here are 8 cost-effective strategies for commercial construction projects:
1. Proper Planning & Design
Saving money starts in the initial planning phase! Proper planning and design of your commercial construction project allows you to create a blueprint for all aspects of the job. During this stage, you’ll want to differentiate between essential needs and optional wants, as well as the difference in cost between each. Determine which aspects are worth the additional money and which aren’t. Elect for enhancements that make sense financially and fit with the overall vision of your business.
2. Efficient Property Management
Optimizing project management and efficiency is a crucial part of successful commercial construction projects. The process of building your business should be a well-oiled operation that runs smoothly with minimal speed bumps along the way, helping you to stay away from unwanted extra expenses. As part of this strategy, Horner Building Company utilizes state-of-the-art technologies to help streamline the operation, reduce waste and address the unique challenges of construction.
3. Finding the Right Contractor
You wouldn’t trust just anyone to build your family’s home. The same applies to your business! There’s an endless list of construction companies out there, which makes choosing the right one paramount. Your choice of contractor could be the difference between success and failure when it comes to commercial construction projects. Do your due diligence when searching for someone to handle your project and make sure they align with your project’s objectives, budget, timeline and vision.
4. Clear Communication
Effective and precise communication is required throughout the commercial construction process. Open lines of communication allows all parties to flourish in a harmony that ensures the job is completed successfully. This starts with making sure everyone is aligned as far as the job’s goals, timeline and budget, helping to prevent any delays or misunderstandings. Foster a collaborative culture that enhances problem-solving and innovation while simultaneously building trust among all team members.
5. Budget Management
Effective financial strategies are another vital part of successful commercial construction projects. Start with setting a realistic budget before creating specific contingency plans should something go wrong. A realistic budget should account for the project’s scope, potential risks and conditions of the current construction market. Reserve funds and set them aside as part of your contingency plan. Regularly compare your budget with actual expenses to ensure you’re staying within the budget you’ve allocated for your project.
6. Constant Monitoring & Re-Evaluation
Meticulous planning is only the start of a successful project. Keeping on top of things is just as important. Quality control measures should be in place to meet the standard while remaining flexible enough to take care of any unforeseen challenges. Regular quality control checks are a way to ensure that every phase of the project aligns with your vision established in the planning stages. Constant re-evaluation is a great way to identify areas of improvement as your build progresses.
7. Efficiency in Sourcing Materials
The sourcing of construction materials significantly impacts both the expenses and timeline of the project. Savings can be found if you know the right places to look! Purchasing in bulk and locally is a great way to snag some savings while simultaneously supporting the local community. Horner Building Company is the authorized builder and distributor for Kirby Building Systems in East Tennessee. One of the top manufacturers of metal buildings in the United States, Kirby offers custom-engineered, high-quality metal building systems perfect for many commercial construction projects.
8. Experience Matters
The best way to navigate the sometimes choppy waters of commercial construction is by going with an experienced construction company. Horner Building Company has been helping to develop East Tennessee for years! Through our experience on a multitude of projects, we’ve seen a lot. We’ve been there, done that, so to speak, making us uniquely prepared to handle any issues that may arise. No matter the project, our team is here to help you build the business you’ve always dreamed about one day owning! By going with an experienced team like Horner, you can avoid hefty unexpected costs that pop up when mistakes are made.
Follow these cost-effective strategies for commercial construction projects to make sure you get the most out of your money! Learn more about how Horner Building Company is the top choice for your commercial construction project in the Smokies!
