Putting up a commercial building requires time, concentration, accuracy and determination because it is a project that will be in place for several years. Emmanuel Kyambadde, a physical planner, says before constructing a commercial building, you have to:
Construction demands commitment from any entrepreneur. “Even if you hire a project manager to oversee the job, you will still need to be involved in daily decision-making, and that will mean more time away from daily operations,” Namuli says. He adds that you have to consider other scenarios such as renting office space, buying another building or renovating existing space. When in doubt, find a financial advisor or consultant to help evaluate your situation.
“Once you have carefully determined your objectives, you can also recruit engineers, architects and interior designers to help find the right solution for you,” Kyambadde says.
He says another important factor to consider is your long-term needs. If the building you want will be able to accommodate your growth down the road.
Make the right plans
He says to have the right plans, a bank advisor can help you determine the affordability of your project, how much money you will need from start to finish and the right financing solutions for your needs. “It is advisable to start with a good business plan so that you can make realistic revenue forecasts,” Kyambadde says, adding that you have to get your building permit in order. Once you have made the decision to build, the next step is to be sure that you have satisfied all local rules with the right permit.
“It is wise to do this as early as possible, since building without a permit is obviously not an option, rules can vary greatly depending on whether you’re building new premises, changing existing premises, changing the appearance of a building or changing its use,” Kyambadde says .
Get a good architect or designer
Kyambadde says one should not be discouraged by the high cost of professional building designers, entrepreneurs. Some people may decide not to hire a good architect or designer and end up having shoddy work.
“Experts should be hired to ensure buildings are both functional and efficient. In a manufacturing plant, for example, you need to be sure your building and design can accommodate your equipment,” Kyambadded says.
He adds that entrepreneurs should watch out for prices that seem too good to be true, always carry out thorough research. One should have an emergency plan because it is not always possible to predict costs, so be sure to cover extra costs with an emergency plan.
“Even if you have affixed price contract price things like additional landscaping costs, electrical and plumbing modifications to accommodate equipment and moving costs can be overlooked,” Mr Kyambadde says.
If you plan to get a loan, do not wait until the last minute to see your bank about your financing needs, get your bank involved from the beginning to avoid any inconvenience.
Choose the right contractor
A competent contractor is essential. However, do not just look at how much they charge for their service, consider quality as well.. “Ensure the firm is licensed, financially stable and willing to provide references and guarantees on the work done. Ask if your contractor can provide maximum price guarantees to protect you from cost overruns,” Kyambadde says.
He adds that you have to determine whether your contractor has expertise in constructing sustainable buildings. Be sure to obtain references from satisfied customers, along with full information on any past legal disputes.
Avoid making last-minute changes
Once the construction of the building is underway, one of the most common mistakes is to make last-minute changes.
“Never make quick decisions on the spot, because they could cause delays and budget overruns.”
Failure to follow the rules
Sometimes entrepreneurs think they can get whatever they want because they have money even if they have not followed the proper procedures.
Getting fake experts
Entrepreneurs sometimes get coned
By fake experts: Fake experts can put up a website explaining what they are doing when they are misleading people.
Sometimes when the entrepreneurs are behind schedule, they try to put pressure on the builder. This may lead to collapse of the building.