Are you thinking of starting a new construction company? The construction industry is competitive, and with the increase in technology use and move towards more sustainable materials, you need to be willing to change and adapt for your business to succeed.
1. Cost Estimating Software
The first thing every new construction company needs to do is invest in cost estimating software. Construction estimating software is a collection of programs, processes, and information that is used to calculate the total cost of each building project.
With the software, you will be able to quickly and accurately bid on projects using an estimating tool. Planning your construction projects is easier with cost estimating software. With the software’s basic estimating tool, you will be able to add quickly, edit, and share your price proposals with potential clients. The software allows you to plan your budget on existing and future projects. You will also be able to maintain existing buildings with schedules and detailed costs.
Costing estimating software helps you to avoid redesign on your construction projects. With the ability to quickly build square foot models of potential construction projects, you will be able to align designs with clients’ needs and budgets, with verification of costs and line by line estimates. Construction estimating software allows quarterly cost updates; follow price trends, and set alerts when something changes.
Through cost estimating software, you will have access to cloud-based estimating software 24/7 on desktop or mobile device. You can pin frequently-used items and search the database by keyword while receiving automatic quarterly cost updates. Access to the cloud-based database will also allow you to follow price trends and set alerts when something changes.
2. Sustainable Materials
Another trend in the construction industry that new companies need to incorporate to succeed is the use of sustainable materials. Sustainable materials are made from recycled products and resources that can be replenished in a short amount of time. They are often referred to as green building products because construction companies re-use recycled materials that would otherwise be discarded.
Some examples of sustainable materials and their use include:
Bamboo
- Fast-growing plant can be replenished quickly
- Versatile material that can be used in sustainable buildings
- Mostly used as flooring or to reinforce concrete
Cork
- Harvesting cork only requires the removal of bark from the tree
- Does not require the whole tree to be cut down
- Often used as flooring in buildings
Reclaimed Lumber
- Taken from old structures, treated, resized and used on other projects
- Preserves timber and forests of trees
- Saves energy because fewer resources are used to harvest, treat, and transport new lumber
Some other innovations using sustainable construction materials have included homes being constructed using bales of straw. Building structures have been made entirely out of rubber tires. And you can build structures using glass bottles or cans.
3. Construct Modular and Prefabricated Buildings
New construction companies should be taking advantage of modular and prefabricated buildings. The use of the aforementioned has increased in popularity the past few years. It is predicted to continue to grow by 6.9 percent per year and hit $157 billion by 2023, driven by affordable material costs. Moreover, projects can be completed 30-50% sooner than traditional building.
Modular buildings can coincide with site and foundation work at the job site. Using prefabricated buildings and modular construction will help to reduce material waste by taking advantage of what is already there on a construction site. Modular buildings provide flexibility for construction companies by allowing for the parts of the building to be dismantled and relocated for new use or re-purpose materials. Also, with modular construction, you don’t have to worry about weather delays since most of the construction occurs inside a factory.
The new technology has allowed buildings to get taller; the average size of modular projects has tripled in size to an average of 200,000 square feet. For example, the 21-story citizenM New York Bowery Hotel in NYC: this 100,000 square food hotel has 300 modular guest rooms, rooftop bar, lounge, and co-working space.
A Final Note
In order to succeed in the construction industry, you need to keep up with technology and emerging trends. The three things mentioned in the article will help you start your new construction business.
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