modular home business plan

How to Start a Profitable Modular Home Dealership Business [11 Steps]

By Nick Cotter Updated Feb 02, 2024

Business Steps:

1. perform market analysis., 2. draft a modular home dealership business plan., 3. develop a modular home dealership brand., 4. formalize your business registration., 5. acquire necessary licenses and permits for modular home dealership., 6. open a business bank account and secure funding as needed., 7. set pricing for modular home dealership services., 8. acquire modular home dealership equipment and supplies., 9. obtain business insurance for modular home dealership, if required., 10. begin marketing your modular home dealership services., 11. expand your modular home dealership business..

Starting a modular home dealership requires a solid understanding of the market to ensure your business aligns with customer needs and industry trends. Proper market analysis will provide valuable insights into your potential customer base, competition, and market dynamics. Here are key points to consider:

• Analyze current market trends in the modular home industry, including growth rates, customer preferences, and technological advancements.
• Identify your target demographic by considering factors such as income level, geographic location, and lifestyle preferences.
• Examine the competitive landscape to understand the offerings and strategies of existing modular home dealerships.
• Assess the economic climate and how factors like interest rates, housing market conditions, and construction costs could impact your business.
• Investigate local and regional regulations that may affect the modular home business, such as zoning laws and building codes.
• Consider the supply chain for modular homes, including the availability of manufacturers and the reliability of transportation infrastructure.
• Gather feedback from potential customers through surveys or focus groups to validate your business concept and refine your offerings.

Are modular home dealership businesses profitable?

Yes, modular home dealership businesses can be profitable. Modular homes are becoming increasingly popular due to their affordability and energy efficiency, allowing dealerships to make a profit. Additionally, many dealerships also offer financing options, which can also be a source of income.

Embarking on the journey of starting a modular home dealership necessitates a solid foundation, and crafting an effective business plan is an indispensable part of that process. Here's a guideline to help you draft a comprehensive business plan that will pave the way for a successful dealership.

• Define your business objectives, including short-term and long-term goals.
• Analyze the market to identify your target audience and competition.
• Detail the modular home products you intend to offer, including manufacturers and customization options.
• Outline your marketing strategy to reach potential customers and build brand awareness.
• Develop an organizational structure, including key management roles and staffing requirements.
• Project financials, incorporating startup costs, pricing strategy, projected sales, and break-even analysis.
• Identify the location of your dealership, considering visibility, accessibility, and proximity to target markets.
• Discuss partnerships with manufacturers and suppliers to ensure quality and timely delivery of homes.
• Consider legal and regulatory requirements specific to modular home dealerships and how you will comply.
• Include an appendix with any additional charts, graphs, or research that supports your business plan.

How does a modular home dealership business make money?

A modular home dealership business makes money by selling pre-fabricated homes and installed options. Additionally, they offer customers custom options for their home, such as flooring and structural design. They also offer financing options, allowing customers to purchase homes when they otherwise may not have been able. An example of a target audience for a modular home dealership business would be first-time home buyers looking for convenience and affordability in the home buying process.

Creating a brand for your modular home dealership is crucial in differentiating your business and attracting customers. Your brand should reflect the unique value proposition of your modular homes, resonate with your target audience, and be consistent across all marketing materials and customer interactions. Here are some essential steps to guide you in developing your modular home dealership brand:

• Define your brand mission and values: Articulate what your dealership stands for and what principles guide your business practices.
• Identify your target audience: Understand the demographics, preferences, and needs of your potential customers to tailor your brand messaging effectively.
• Choose a memorable brand name: Select a name that is easy to remember, reflects the essence of your business, and stands out in the marketplace.
• Design a distinctive logo and visual identity: Develop a logo and a set of visual elements that represent your brand and can be used consistently on your website, business cards, and promotional materials.
• Create a compelling brand message: Craft a clear and persuasive message that communicates the benefits of choosing your modular homes and the unique features that set your dealership apart.
• Ensure brand consistency: Keep your brand's visual and messaging elements consistent across all platforms, from your website to social media and physical signage, to build recognition and trust.
• Engage with your community: Position your brand as a community player by participating in local events, sponsoring activities, and collaborating with local businesses.

How to come up with a name for your modular home dealership business?

Naming a modular home dealership business can be a fun and creative process that can help shape your business's brand. Start by understanding the message you want your name to convey. Consider what sets your business apart from competitors and focus on words that capture the spirit of your company. Brainstorm with family, friends, or colleagues for ideas and narrow down your list to favorites. Once you have a list of potential names, do some research to make sure the name is available to use legally and check for any potential connotations it might carry. Taking some time and thought into coming up with a name for your modular home dealership business will help give your business a strong brand identity.

Formalizing your business registration is a crucial step in establishing your modular home dealership. This legal step ensures your business complies with all local, state, and federal regulations and allows you to operate lawfully. Here's how you can proceed:

• Choose a Business Structure: Decide on a business entity such as an LLC, corporation, partnership, or sole proprietorship, each with its own legal and tax implications.
• Register Your Business Name: Register your business name with the appropriate state authorities, and make sure it's unique and not already in use.
• Obtain an EIN: Apply for an Employer Identification Number (EIN) from the IRS for tax purposes, especially if you plan to have employees.
• Register for Taxes: Register with state and federal authorities to obtain the necessary tax identification numbers for sales tax, payroll tax, and any other applicable taxes.
• Get Required Licenses and Permits: Secure any specific licenses or permits required for a modular home dealership in your jurisdiction, such as a dealer's license, zoning permits, or construction-related permits.
• File Formation Documents: Submit the necessary formation documents to your state's business filing agency, along with any required fees.
• Open a Business Bank Account: Set up a bank account specifically for your business to keep finances separate from personal accounts.

Resources to help get you started:

Explore critical resources designed specifically for modular home dealership entrepreneurs to gain insights on market trends, enhance operational efficiency, and derive strategic business growth advice:

• Modular Home Builders Association (MHBA): Offers insights into industry standards, networking opportunities, and educational resources to promote best practices in modular home construction and sales. http://www.modularhousing.com
• Builder Magazine: Provides industry reports, design trends, and business strategies relevant to home builders and dealers, including those specializing in modular homes. https://www.builderonline.com/
• Modular Today: An online guide offering reviews, price information, and advice on selecting manufacturers and understanding the modular home market. http://www.modulartoday.com
• Housing Innovation Alliance: Hosts webinars, roundtables, and workshops focused on innovation in housing, including modular and prefab homes, contributing to operational and strategic development. https://housinginnovationalliance.com/
• Green Building Advisor: Provides resources on sustainable building practices, an increasingly important aspect of modular home construction, for builders looking to improve their environmental impact. https://www.greenbuildingadvisor.com/

Starting a modular home dealership requires careful consideration of regulatory requirements to operate legally and successfully. Obtaining the necessary licenses and permits is a crucial step that varies by location and the specifics of your business. Follow these general guidelines to ensure you're compliant:

• Research local zoning laws to ensure that your dealership location is permitted to sell modular homes.
• Contact your city or county's business license department to apply for a general business license.
• Check with your state's housing authority or similar regulatory body to find out about specific licenses required for selling prefabricated homes.
• Apply for a sales tax permit through your state's department of revenue if you are required to collect sales tax on the homes you sell.
• Consider obtaining a dealer bond, which may be required to protect customers against wrongful business practices.
• Ensure that all displayed modular home models comply with the HUD code or relevant state and local building codes.
• Stay updated on continuing education requirements that may be necessary to keep your dealership license current.

What licenses and permits are needed to run a modular home dealership business?

In order to open and run a modular home dealership business, you will need a variety of licenses and permits. Depending on your location, the exact requirements may vary, but the most common types of permits and licenses include a business license, zoning or land use permit, building permit, sales tax license, health department permit for food facilities, environmental protection permit for hazardous waste storage and disposal, and any additional permits that may be required by local or state regulations.

Starting a modular home dealership requires financial organization and security, which means setting up a dedicated business bank account and obtaining necessary funding. A separate account will help you manage finances effectively and is crucial for keeping personal and business expenses distinct. Here's how to approach these vital steps:

• Research banks that offer business banking services and compare their fees, services, and customer support to choose the one that best fits your business needs.
• Prepare the required documentation to open a business bank account, which typically includes your business license, EIN, incorporation documents, and ownership agreements.
• Develop a solid business plan outlining your dealership's financial projections and funding requirements to present to potential lenders or investors.
• Explore various funding options, such as small business loans, lines of credit, SBA loans, or seeking out investors who are interested in the modular home industry.
• Consider crowd-funding platforms or partnerships with manufacturers for alternative funding solutions that may offer more favorable terms or industry-specific advantages.
• Ensure any funding agreements are clear, transparent, and documented to avoid future legal or financial complications.

Setting the right pricing strategy for your modular home dealership is crucial to ensure a competitive edge while maintaining profitability. It's important to consider various factors such as market demand, competition, cost of goods, and your target customer base. Here are some guidelines to help you determine your pricing:

• Analyze the Competition: Research what other modular home dealerships are charging. Ensure your prices are competitive but also reflect the quality and value of the homes you offer.
• Cost-Plus Pricing: Calculate the total cost of each modular home, including purchase, transportation, and setup costs, then add a reasonable markup to establish a profit margin.
• Value-Based Pricing: Price your homes based on the perceived value to the customer. Consider the design, customization options, and any additional services that enhance the home's value.
• Dynamic Pricing: Be flexible with your pricing strategy to accommodate market trends, seasonal demand, and promotional offers.
• Discounts and Financing Options: Offer promotional discounts or partner with financial institutions to provide attractive financing options, thus making your homes more accessible to a range of buyers.
• Consult with Suppliers: Work closely with your suppliers to negotiate the best prices for the homes, which can enable more competitive pricing for your customers.

What does it cost to start a modular home dealership business?

Initiating a modular home dealership business can involve substantial financial commitment, the scale of which is significantly influenced by factors such as geographical location, market dynamics, and operational expenses, among others. Nonetheless, our extensive research and hands-on experience have revealed an estimated starting cost of approximately $302000 for launching such an business. Please note, not all of these costs may be necessary to start up your modular home dealership business.

Starting a modular home dealership requires not just a keen business sense, but also the right equipment and supplies to ensure smooth operations. From office essentials to display models, there's a range of items you'll need to procure. Here's a list of the basic equipment and supplies to consider for your dealership:

• Office Equipment: Desks, ergonomic chairs, computers, printers, and telephones for efficient administrative work.
• Software Solutions: CRM and inventory management software to track leads, sales, and modular home options.
• Display Models: One or two modular home units for customers to tour, which will require a significant investment.
• Signage and Marketing Materials: High-quality signs, brochures, and promotional items to attract and inform customers.
• Land or Showroom Space: A location to showcase the display models and conduct business, ideally in a high-traffic area.
• Safety Gear: Hard hats, safety vests, and boots for you and your staff to use during site visits.
• Transportation: A reliable vehicle, possibly with towing capability, for site visits and meetings with manufacturers and clients.
• Utility Tools: Basic tools for minor repairs or adjustments to the display models or office space.

List of software, tools and supplies needed to start a modular home dealership business:

• Computer and software: $1,000-$2,000
• Commercial modular home dealer license: $50-$1,000
• Business cards and promotional materials: $200-$1,000
• Construction equipment and tools: $5,000-$20,000
• Showroom design and furnishings: $5,000-$25,000
• Office space rental (optional): $500-$2,500/month
• Vehicles (optional): $20,000-$50,000
• Advertising and marketing services: $500-$2,500/month
• Inventory of modular home models: Varies greatly depending on the size of the dealership and current market conditions.
• Insurance for facility and vehicles: Varies greatly depending on the size of the dealership and current market conditions.

Securing the right business insurance is a crucial step in safeguarding your modular home dealership against potential risks. The coverage you choose will protect your assets, employees, and the homes you sell. Here's a guide to help you navigate the complexities of obtaining suitable business insurance:

• Assess your risks: Evaluate the unique risks associated with your dealership, such as property damage, accidents, or liability claims, to determine the types of coverage you need.
• Shop around: Contact multiple insurance providers to compare coverage options and premiums. Look for insurers who specialize in policies for the construction or real estate industry.
• Consider comprehensive coverage: Typical policies to consider include general liability insurance, property insurance, commercial auto insurance, workers' compensation, and professional liability insurance.
• Review state requirements: Ensure your dealership complies with state regulations by verifying the minimum insurance requirements for businesses in your area.
• Work with an agent: Consider consulting with an insurance agent who can provide personalized advice and help you navigate the specific needs of your modular home dealership.

Starting a modular home dealership involves not just setting up shop but also ensuring that potential customers are aware of the services you offer. A focused marketing strategy is crucial for attracting clients and establishing your presence in the market. Here are some steps to begin marketing your modular home dealership services:

• Develop a strong brand identity that reflects the quality and reliability of your modular homes, including a professional logo and a cohesive color scheme.
• Create a user-friendly website showcasing your modular home designs, with high-quality images, virtual tours, and detailed information about each model.
• Utilize social media platforms to engage with your audience, share customer testimonials, and post updates about new designs and offers.
• Network with local real estate agents and attend home and garden shows to increase visibility and create partnerships that can refer clients to your dealership.
• Invest in targeted online advertising campaigns using SEO and PPC to drive traffic to your website and generate leads.
• Offer promotions or incentives for first-time buyers or referrals to encourage word-of-mouth marketing and repeat business.

As your modular home dealership begins to gain traction, expanding your business is the next strategic step to increase your market reach and profitability. Consider these key points to effectively grow your dealership and establish a stronger presence in the modular home industry.

• Explore partnerships with more manufacturers to diversify your inventory and offer a wider range of home designs to customers.
• Invest in marketing and sales strategies to target new demographics and geographic areas, potentially opening new locations.
• Utilize customer feedback and market research to identify trends and customer preferences, tailoring your offerings to meet demand.
• Implement advanced technology for virtual tours and customizations, enhancing the customer experience and streamlining sales processes.
• Consider offering additional services such as financing, insurance, or full-service land preparation and installation to create a one-stop-shop experience.
• Regularly train your staff on the latest industry developments and customer service practices to ensure high-quality interactions and service.
• Reinvest profits into the business to fund expansion activities, and explore external financing options if necessary to support growth.

Modular Home Coach

Gary Fleisher, Modular Construction Industry Observer and Information Gatherer

16 Steps to Successfully Opening a New Modular Factory in This Post-COVID-19 World

• May 26, 2021

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One Response

Right on AGAIN Gary! If any of the aspiring mod plant builders you mention plan marketing their product be it, East of the Rockies and North on South Carolina..that's my "own …back yard-market"; So Gary, just suggest they call me. I'd enjoy helping them detail the demographic…Bill

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How To Write a Business Plan for Modular Tiny Home Manufacturing

By henry sheykin, resources on modular tiny home manufacturing.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan
• SWOT Analysis
• Business Model
• Marketing Plan

Welcome to our blog post on how to write a business plan for modular tiny home manufacturing! As the demand for affordable and eco-friendly housing solutions continues to rise, the modular home industry has experienced significant growth in recent years. According to a report by Grand View Research, the global modular construction market is expected to reach $207.3 billion by 2025, growing at a CAGR of 6.9%. This presents a lucrative opportunity for entrepreneurs looking to capitalize on the market's potential.

So, how can you successfully navigate the modular tiny home manufacturing industry and establish a thriving business? In this article, we will guide you through 9 essential steps to help you develop a comprehensive business plan for your venture. From conducting market research and defining your target market to crafting a mission statement and developing a sales and marketing strategy, we will provide you with a checklist to ensure that you cover all the necessary aspects of starting a modular tiny home manufacturing company.

With the right strategies and a focus on offering customizable and sustainable homes, you can position your business as a leader in the industry. By following our step-by-step guide, you'll be equipped with the knowledge and tools to revolutionize the housing industry and provide individuals and families across the United States with affordable, sustainable, and functional living spaces.

Conduct Market Research

Before starting a modular tiny home manufacturing business, it is crucial to conduct thorough market research to gain valuable insights into the industry and make informed decisions. Market research involves gathering and analyzing relevant data about the housing market, customer preferences, and industry trends. Here are some steps to help you conduct effective market research:

• Identify your target market: Determine the specific group of individuals or organizations that are most likely to purchase modular tiny homes. Consider factors such as demographics, income levels, and geographic location.
• Analyze market demand: Assess the current demand for modular tiny homes in your target market. Look for indications of growth, such as increasing interest in sustainable living solutions or a lack of affordable housing options.
• Study the competition: Research existing modular tiny home manufacturers and analyze their offerings, pricing strategies, and customer feedback. This will help you identify gaps in the market that you can capitalize on and differentiate your business.
• Understand customer preferences: Conduct surveys, interviews, or focus groups to gather insights into what potential customers value in modular homes. This could include factors like design flexibility, energy efficiency, or specific amenities.
• Explore industry trends: Stay updated on the latest developments and trends in the modular housing industry. This could involve researching advancements in sustainable building materials, emerging design trends, or innovative construction techniques.

Tips for Conducting Market Research:

• Use a combination of qualitative and quantitative research methods to gain a comprehensive understanding of the market.
• Utilize online resources, industry reports, and market research databases to access relevant data.
• Engage with potential customers through social media platforms and online forums to gather insights and feedback.
• Consider partnering with market research firms or consultants to conduct in-depth studies and analysis.

By conducting thorough market research, you will be equipped with the necessary knowledge to develop a successful business plan and make informed decisions regarding product offerings, pricing strategies, and marketing approaches. It will also help you identify and capitalize on opportunities to differentiate your modular tiny home manufacturing company in a competitive market.

Define Your Target Market

Defining your target market is a crucial step in developing a successful business plan for your modular tiny home manufacturing company. By identifying and understanding your target market, you can tailor your products, services, and marketing strategies to meet the specific needs and preferences of your potential customers.

Identify the demographics: Start by determining the key demographics of your target market, such as age, income level, location, and lifestyle. This information will help you create buyer personas and better understand the specific characteristics of your potential customers.

Consider psychographics: In addition to demographics, it's important to consider the psychographics of your target market. This includes their values, interests, behaviors, and motivations. Understanding the psychographics of your customers will enable you to align your brand messaging and marketing efforts effectively.

Analyze market segments: Take a closer look at the modular tiny home market to identify potential segments that align with your business goals. For example, you could focus on eco-conscious individuals looking for sustainable housing solutions or young professionals seeking affordable yet stylish homes.

Tips for defining your target market:

• Conduct surveys or interviews to gather valuable feedback and insights from your target audience.
• Research industry trends and market reports to identify emerging opportunities within your target market.
• Engage with potential customers through social media platforms and online forums to gather firsthand knowledge of their preferences and needs.
• Consider employing the services of a professional market research firm to conduct a comprehensive analysis of your target market.

Analyze Competition

Conducting a thorough analysis of your competition is essential for the success of your modular tiny home manufacturing business. By understanding what other companies in the industry are offering and how they are positioning themselves, you can identify gaps in the market and develop strategies to differentiate your business.

Start by researching existing modular home manufacturers and builders in your target market. Look at their product offerings, pricing, and overall brand positioning. Pay attention to the types of customization options they provide, the quality of their homes, and any unique features or sustainable practices they incorporate.

Tips for Analyzing Competition:

• Visit competitors' websites and take note of their design styles, materials used, and customer testimonials.
• Attend trade shows and expos to observe the latest trends and developments in the modular home industry.
• Read customer reviews and ratings to gain insights into the strengths and weaknesses of your competitors.
• Engage in mystery shopping to experience the customer journey and evaluate the level of service provided by your competitors.
• Identify potential partnerships or collaborations with complementary businesses that can enhance your value proposition.

Based on your analysis, identify areas where you can differentiate your business from the competition. This could involve offering unique customization options, using innovative sustainable materials, or providing exceptional customer service. By highlighting these unique selling points, you can position your business as a leader in the modular tiny home industry and attract a distinct customer base.

Remember, analyzing competition is an ongoing process. Continuously monitor the market and adapt your strategies accordingly to stay ahead of the competition and meet the evolving needs of your target audience.

Determine Your Unique Selling Proposition

Identifying your unique selling proposition (USP) is essential in setting your business apart from competitors and attracting customers. Your USP is the factor that makes your modular tiny home manufacturing company stand out in the market. It is the reason why customers should choose your products over others.

To determine your USP, consider the following:

• Research customer needs: Understand what your target market is looking for in modular homes. Identify the key features or benefits that customers value the most.
• Analyze the competition: Study your competitors' offerings and identify gaps or areas where you can differentiate yourself.
• Focus on sustainability and customization: Emphasize your company's commitment to sustainability by using eco-friendly materials and incorporating energy-efficient features. Highlight your ability to offer a wide range of design options and sizes, allowing customers to personalize their homes according to their preferences and needs.
• Highlight quality and affordability: Position your company as a provider of high-quality modular homes at competitive prices. Emphasize the value customers receive by choosing your products.
• Offer exceptional customer service: Provide outstanding customer support throughout the home buying process, offering guidance and assistance to ensure customer satisfaction.

Tips for Determining Your Unique Selling Proposition:

• Carry out surveys or interviews with potential customers to gather insights into their needs and preferences.
• Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis to identify your company's unique strengths that can be leveraged as a selling point.
• Monitor industry trends and stay updated on the latest advancements in sustainable and modular construction techniques to keep your offerings innovative.
• Continuously seek customer feedback and adapt your USP based on their changing needs and market demands.

Identify The Legal And Regulatory Requirements

When starting a modular tiny home manufacturing company, it is crucial to understand and comply with the legal and regulatory requirements that govern your industry. By identifying these requirements early on, you can ensure that your business operates legally and avoids potential penalties or legal issues in the future.

Here are some key considerations to keep in mind:

• Business Licenses and Permits: Research the licenses and permits required to operate a modular home manufacturing business in your location. This may include general business licenses, manufacturing permits, zoning permits, and environmental permits.
• Building Codes and Regulations: Familiarize yourself with the building codes and regulations that apply to modular homes in your area. These codes ensure safety and quality standards are met during the construction process. It is essential to comply with these regulations to avoid legal issues or delays in obtaining necessary approvals.
• Employment Laws: Understand the labor laws and regulations that apply to your business. This includes hiring practices, minimum wage requirements, worker safety regulations, and other employment-related obligations.
• Environmental Regulations: Given the focus on sustainability in the tiny home industry, it is crucial to be aware of environmental regulations. Ensure that your manufacturing processes align with environmental standards and consider using sustainable materials and energy-efficient features.
• Contracting and Insurance: Be familiar with the legal requirements for contracts, warranties, and insurance coverage. Consult with an attorney to draft contracts and ensure that you have appropriate insurance coverages to protect your business and customers.

Tips for Identifying Legal and Regulatory Requirements:

• Consult with professionals: Seek advice from lawyers, accountants, or industry experts who can guide you through the specific legal and regulatory requirements for modular home manufacturing.
• Research local regulations: Regulations can vary depending on your location, so thoroughly research regional and municipal requirements related to manufacturing and construction.
• Stay updated: Keep abreast of any changes or updates in regulations to ensure ongoing compliance for your business.
• Maintain documentation: Keep records of permits, licenses, and other legal documentation to demonstrate compliance with regulations if required.

Develop A Pricing Strategy

Developing a pricing strategy for your modular tiny home manufacturing business is crucial in determining the profitability and competitiveness of your products. Consider the following key points when developing your pricing strategy:

• Set clear profit goals: Clearly define your profit goals and determine the level of profitability you aim to achieve. This will guide your pricing decisions and help you align your prices with your desired financial objectives.
• Consider cost factors: Take into account the various costs associated with manufacturing modular tiny homes, including materials, labor, overhead expenses, and any licensing or certification fees. Understanding your costs will enable you to set competitive prices that cover your expenses while still offering value to your customers.
• Evaluate market demand: Analyze the demand for modular tiny homes in your target market and determine the price sensitivity of potential customers. Conduct market research to identify the price range that aligns with the affordability expectations and purchasing power of your target audience.
• Position your pricing: Position your pricing in a way that reflects the value and unique selling proposition of your modular homes. Consider factors such as customization options, sustainability features, durability, and energy efficiency. Highlight these selling points and justify your prices accordingly.
• Monitor competition: Stay aware of your competitors' pricing strategies and pricing levels. While it's important to differentiate your products and establish their value, you also need to remain competitive within the market. Pricing above or below the established norms can have a significant impact on your market position and customer perception.

Tips for Developing Your Pricing Strategy:

• Consider offering tiered pricing options to cater to customers with different budget ranges and preferences.
• Regularly review and update your pricing strategy based on changes in costs, market trends, and consumer demands.
• Consider offering promotional pricing or discounts during special events or seasons to attract customers.
• Implement efficient inventory management practices to minimize carrying costs and ensure optimal pricing.
• Communicate the value and benefits of your modular homes to customers effectively, reinforcing their confidence in your pricing.

Estimate The Initial Investment And Funding Needed

Estimating the initial investment and funding needed for your modular tiny home manufacturing business is a crucial step in the business planning process. It will help you determine the financial requirements and make informed decisions regarding your startup's funding sources. Below are the key factors to consider when estimating the initial investment and funding needed:

• Business Location: The cost of acquiring or leasing a suitable manufacturing facility plays a significant role in determining the initial investment. Consider factors such as rent, utilities, and maintenance expenses when estimating these costs.
• Equipment and Machinery: Investing in the necessary tools, equipment, and machinery for modular home construction is vital. Prioritize identifying the specific equipment needed and research their costs from reputable suppliers.
• Raw Materials: Determine the type and quantity of raw materials required for constructing modular homes. This will help you estimate the initial investment needed to purchase materials, such as sustainable building materials, insulation, wiring, plumbing, and finishing materials.
• Staffing and Training: Assess the number of employees required for operations, including skilled workers such as architects, designers, engineers, and construction workers. Consider the costs of recruitment, salaries, benefits, and ongoing training.
• Permits and Licenses: Research and allocate funds for obtaining the necessary permits, licenses, certifications, and insurance policies required to operate a modular tiny home manufacturing business. These legal and regulatory requirements may vary based on your location.
• Marketing and Advertising: Develop a comprehensive marketing and advertising strategy to promote your products and attract customers. Allocate funds for creating a professional website, digital marketing campaigns, print materials, trade shows, and other advertising channels.
• Contingency Fund: It is essential to set aside a portion of your initial investment for unexpected expenses and emergencies. Building a contingency fund will provide a safety net in case of cost overruns or unforeseen circumstances.
• Obtain multiple quotes and compare prices from different suppliers to ensure you get the best value for your equipment and material purchases.
• Consider alternative funding options such as small business loans, grants, venture capital, or crowdsourcing platforms to supplement your initial investment.
• Prepare a detailed financial forecast and cash flow analysis to demonstrate the feasibility and profitability of your modular tiny home manufacturing business to potential investors or lenders.

Estimating the initial investment and funding needed for your modular tiny home manufacturing business will provide you with a clear picture of the financial requirements, allowing you to plan effectively and secure the necessary resources to turn your business idea into a reality.

Create A Sales And Marketing Strategy

Once you have developed your modular tiny home manufacturing business plan, it's essential to create a sales and marketing strategy to effectively promote your products and attract customers. This strategy will outline the steps you will take to reach your target market, communicate your unique selling proposition, and generate sales. Here are some key components to consider when creating your sales and marketing strategy:

• Identify your target audience: Clearly define the demographics and characteristics of your ideal customers. This will help you tailor your marketing efforts and messaging to resonate with your target market.
• Build a strong online presence: In today's digital age, having a robust online presence is crucial. Create a user-friendly website that showcases your modular tiny homes, offers detailed information about your products and services, and includes high-quality images and videos. Utilize search engine optimization (SEO) techniques to increase your website's visibility in search engine results.
• Establish a social media presence: Engage with your target audience on platforms such as Facebook, Instagram, and LinkedIn. Share visually appealing content, customer testimonials, and informative articles related to sustainable living and modular homes. Use social media advertising to expand your reach and drive traffic to your website.
• Incorporate email marketing: Develop a newsletter or email campaign to stay connected with potential leads and previous customers. Provide valuable content, such as tips for sustainable living or updates on new design options, to keep your audience engaged and interested in your modular homes.
• Collaborate with industry influencers: Identify influential individuals or organizations in the housing and sustainability industry and establish partnerships or collaborations. This could involve guest blogging, sponsoring events, or co-hosting webinars to leverage their audience and gain credibility in the market.
• Offer incentives, such as discounts or referral programs, to encourage customers to spread the word about your modular tiny homes.
• Attend trade shows or local events focused on sustainable living or home construction to showcase your products and connect with potential customers.
• Monitor your online reputation and respond promptly to customer inquiries and reviews to build trust and demonstrate excellent customer service.
• Regularly analyze and measure the effectiveness of your marketing efforts using metrics such as website traffic, conversion rates, and social media engagement. Adjust your strategy accordingly to optimize results.

Craft A Mission Statement And Company Objectives

A mission statement is a concise statement that defines the purpose and goals of your company. It encapsulates your company's values and aspirations, serving as a guiding principle for decision-making and strategic planning. Crafting a compelling mission statement is crucial as it helps your team and potential investors understand the purpose and direction of your business.

When formulating your mission statement, consider the following:

• Focus on the unique value proposition of your modular tiny home manufacturing business.
• Highlight your commitment to sustainability, affordability, and customer satisfaction.
• Keep it concise, conveying your vision in a few sentences.
• Incorporate inspiring language that motivates and engages stakeholders.

Company objectives, on the other hand, are specific, measurable, achievable, relevant, and time-bound (SMART) goals that help you work towards your mission. These objectives should be aligned with your overall business strategy and reflect the desired outcomes you want to achieve.

In setting company objectives, consider the following:

• Establish both short-term and long-term objectives.
• Ensure your objectives are realistic and attainable.
• Monitor and evaluate your progress regularly.
• Align objectives with different aspects of your business, such as financial, operational, and marketing goals.

By crafting a clear and compelling mission statement and setting achievable company objectives, you provide a roadmap for your business. These key elements will guide your decision-making process, inspire your team, and attract potential customers who resonate with your values and aspirations.

In conclusion, developing a business plan for a modular tiny home manufacturing company requires careful research, analysis, and strategic planning. By following the nine steps outlined in this checklist, entrepreneurs can successfully navigate the process and establish a thriving business in the growing market for affordable and sustainable housing solutions. With a focus on meeting customer needs, complying with legal requirements, and implementing innovative manufacturing techniques, entrepreneurs can contribute to revolutionizing the housing industry and providing functional living spaces for individuals and families across the United States.

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How to Start a Custom Home Building Business

A career owning and operating a custom home building business is exciting. It’s also challenging. Most importantly, it’s rewarding. How many lines of work let you help people realize the home of their dreams? 

Like any other company, a custom home building business has to start somewhere.  

Opening your own custom home company is a large undertaking. It takes a lot of courage, too -- not everyone has the dint and determination to run their own business. 

By taking a thorough and measured approach to starting a custom home business, you’ll enjoy a long and engaging career. 

Starting a Custom Panelized Home Building Business: What it Takes 

Just like building a custom home, there’s a lot that goes into launching your custom home building business. The steps you take in the early days forming your company set you up for future success. To lay the foundation for a home building business that thrives, you’ll need to: 

• Write a business plan 
• Obtain licenses and permits
• Secure finances and create a budget
• Get insurance 
• Form an LLC 
• Set up an office or showroom
• Hire a staff
• Establish a list of subcontractors 
• Do your homework

1. Write a Business Plan

Most entrepreneurs know what they want -- to run a business that does more than just pay the bills. Their company not only provides a living and a sense of pride, but also is poised for longevity. 

Creating a business plan lays a solid foundation for any fledgling company. A business plan puts your vision for your company to paper, giving you a tangible roadmap for your goals. 

Business plans don’t have to be lengthy, in-depth documents full of charts, revenue forecasts, or projections. It can be as simple as a one-sheet giving a brief overview of your company and its goals . Be aware -- if you’re planning to get a loan to start your business, most lenders require a detailed overview of your new company and plans for its future. 

2. Secure Financing and Create a Budget 

Starting a home building company isn’t free. There are plenty of start-up costs you’ll need to cover until your business begins generating revenue:

• Renting or purchasing a space
• Buying equipment
• Paying utilities
• Employee salaries 
• Legal fees 
• Insurance 
• Marketing 

Unless you’ve saved up money, you’ll likely be headed to a bank or other financial institution for startup capital. Your lender will want to see a detailed budget of your anticipated costs for your first year of operation and at least the 3 years after that. The lender will also take a deep dive into your personal finances to make sure you’re a good candidate for a loan. 

With a budget in-hand, you’ll know exactly what expenses to anticipate and the revenue you’ll need to generate to meet them. 

3. Obtain Licenses and Permits 

Going into business for yourself is not simply a matter of opening up shop. At the very least, your company will need to be registered with the county it’s established in. If your custom home building company is one that completes actual construction work, you’ll likely need additional licenses and permits to operate.

Required licenses and permits vary by state and municipality . Your local code enforcement office is a great resource to learn about the forms you’ll need to complete to operate.   4. Get Insurance 

Insurance protects you and your company from those “what ifs.” Should the unforeseen happen, you won’t have to worry about losing your company or falling into financial ruin.   5. Form an LLC

An LLC -- limited liability company -- is a business classification. Through this designation, small businesses get the same legal protections as a large corporation. Practically speaking, establishing your custom home building business as an LLC provides a layer of protection between your company and your personal assets . That means any debts, liens, or lawsuits filed against your company stay there.

There are certain instances -- such as fraud -- where LLC protections for your personal assets don’t apply. And different states have different rules about what an LLC designation means for your business. Consult with a lawyer before forming your LLC.   6. Set up an office or showroom

There’s something to be said for walking into an office or showroom. 

For potential clients, going to a brick-and-mortar location gives the impression of legitimacy -- they’re not walking into someone’s house and sitting at their kitchen table to talk about their next home. That’s not to say a custom home building company can’t be run out of the owner’s home. Some do, but have a separate part of their house reserved strictly for business. 

Having a dedicated space for your business gives you plenty of room for:

• Client meetings
• A small library of custom home floor plans
• Building material samples
• Storing information for your custom home builder marketing plans

7. Hire a Staff

Custom home building businesses have two components: sales and project management. Both are equally important and deserve the right attention. As custom home construction projects are large undertakings, it’s best to have a support system of employees at the ready. 

At minimum, your company should have a home dealer and a project manager on staff. They’ll work in tandem with clients through each step of the custom home building process. 

A home dealer meets with prospects and handles most of the up-front work with a client, such as:

• Selling a home package
• Answering client questions
• Understanding clients’ needs and wants
• Orchestrating floor plan development 

Once a client commits to a floor plan, a project manager takes over to organize and oversee the development and construction of a home. This extends to clients who act as their own general contractors. 

With a home dealer and project manager working together, your company is able to service more clients and build more homes. 

8. Establish a List of Subcontractors

Whether your custom home building company is one that manages projects or builds homes, having a diverse list of dependable subcontractors is essential. 

While all home projects have similar construction elements that most general contractors can handle, some elements require specialized labor. It’s not uncommon for custom home builders to hire subcontractors to handle jobs that need a certain level of expertise, such as:

• Installing a foundation
• Electrical wiring
• Creating custom shower enclosures 

With a bullpen of subcontractors, you’re ready to tackle custom home projects no matter what it takes to build them.

9. Do Your Homework 

Those looking to build a custom home want to work with someone well versed in making their project a reality. Nothing drives a client away faster than a custom home builder who can’t answer their questions.  

Doing your homework before opening your doors allows you to truly be a resource to clients. 

A successful -- and reputable -- custom home builder understands their local housing market and the factors that impact home construction, such as material or land prices. They’re also experts on the types of home packages available -- they can speak to all the details of a custom home build and the choices the client needs to make. 

How Barden Helps Your Custom Home Building Business  

Joining the Barden Building Products family as one of our Independent Dealers takes some of the pressure off launching a new business. 

Barden has worked with many new custom home businesses as they started up, giving them the support and tools to succeed. 

As one of our independent dealers, Barden provides you with: 

• Mentorship 
• Marketing materials and funding
• Networking opportunities through our dealer network 
• Reports on market conditions and housing trends 

As a partner to your business, Barden works with you to build a company poised for long-term success.

Start a Custom Home Building Business

Entering the custom home building industry is a big step for anyone. Successful companies don’t just happen -- they start with spending the time to lay the right groundwork .

By taking a thorough approach and getting everything you’ll need to operate lined up ahead of time, you’ll hit the ground running when you open. And you’ll be able to focus on what matters most: running a company to be proud of. 

Learn more about how Barden Building Products helps you start a custom home business.  Download our e-book, Becoming a Barden Independent Dealer: A Blueprint for Success:

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BUSINESS PLAN FOR GREEN MODULAR HOUSING

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Andrew Hoffman , Rebecca Henn

Building and Environment

Mohamed Osmani

Salmiah Aziz

A house that is manufactured in factory processes and produced in a module (as a unit) is defined as Modular Construction System (MCS). It was also known as Modern Method of Construction (MMC) or Offsite Fabrication (OSF) in the construction industry in other developed countries. In Malaysia, the MCS or Volumetric Modules building was categorised as an innovative method in Industrialised Building Systems (IBS) classification. It was considered to promote a solution to the construction industry in enhancing a better productivity and quality objectives. Hence, it seemed to achieve and satisfied the sustainable issues of the housing industry. From the previous research findings such as availability of reliable manufacturers, sustained and durable materials, accessibility to site, factory location, best transportation routes and management, user perception, authority approval, manufacturing and production cost are the outstanding issues that challenged the adoption of modular construction system in Malaysia. This paper is a division of current research on modular design for an affordable home. The adoption of a new method (MCS) was anticipated to promote a new paradigm and way forward for IBS industry to solve its current problems that it has to face in the construction industry. It was expected that the adoption of modular construction into IBS was the avant-garde to produce more affordable home in future. The data and information presented in this paper was gathered from the reviews of the available relevant literature related to MCS and IBS in Malaysia. This paper suggested an analysis of the initial findings for MCS issues to be searched and explored in depth in Malaysia context. This paper also recommended a conclusion that green and sustainability agenda in affordable housing construction are underpinned by design " combinatorial concept " of MCS.

Eric Johan Tijssen

Building Research & Information

James Barlow , David M Gann , Ritsuko Ozaki

바카라사이트순위〃〃GCN333。COM〃〃당구대회일정

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Modular Homes

Explore 1,000’s of modular homes, view 3D home tours, and get pricing from local builders.

When it comes to buying a home, the real estate industry is full of options. If you’re in the market to purchase a home, or considering building one, you may be aware that modular homes are a popular option. Simply put, modular homes have sections that are built in a factory, rather than being fully built on a home site. These parts are then transported to the site and assembled by a builder.

Modular homes – also often known as factory-built, prefabricated, or systems-built homes – still only represent about 1.5% of all single family homes in the U.S. But more and more, the interest in modular housing is growing among American homebuyers. This is because modular homes offer both the flexibility to modify and create custom floor plans, as well as all the modern amenities, features, and design styles you’d expect in traditional homes.

Remember, a modern modular home offers just as much, if not more, freedom and customization as a site-built home. Far from being a detriment, being factory-built is one of the greatest benefits of modular construction!

Fact Vs Myth

What does a modular home cost.

If you’re looking to purchase a new modular home, you should know what to expect when it comes to price. Some factors to consider are base price, the cost of customization, as well as the fees associated with delivery, installation, permits, and more. Click “Learn More” to read our comprehensive walkthrough of pricing out the total cost of a typical modular home.

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Classic Series DW

The shoreline 1024-76-4-32.

4 Beds | 2 Baths | 2,160 sq. ft. | 72’x30′

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Russellville, AL 100+ floor plans available

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The shoal creek cs-3241.

3 Beds | 2 Baths | 1,980 sq. ft. | 66’x32′

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Bear Creek, AL 30+ floor plans available

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Let us find you the perfect loan for the perfect home. Finding the right modular home loan doesn’t have to be a struggle, and being able to compare qualified lenders has never been easier. We make it simple for you to find the right lender who will help you and your family with modular home financing.

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Hiperformance design for all sizes of modular homes., nationwide homes—more than just modular homes.

We don’t just build modular homes. We build HiPerformance systems-built homes.

HiPerformance homes include: HiPerformance Construction , HiPerformance Design and HiPerformance Green.

The benefits of building high performance modular homes with modular construction are ease and efficiency that is greater than site-built counterparts. Our high performance design offers a no-compromise approach that result in high-quality modular homes built for long-term living with lower utility costs.

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Nationwide HiPerformance modular homes are backed with over 60 years of experience. Experience you can build on.

Mobile Home Park Business Plan Template

Written by Dave Lavinsky

Mobile Home Park Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their mobile home park companies.

If you’re unfamiliar with creating a mobile home park business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write a mobile home park business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Mobile Home Park Business Plan?

A business plan provides a snapshot of your mobile home park business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.  

Why You Need a Business Plan for a Mobile Home Park

If you’re looking to start a mobile home park business or grow your existing mobile home park company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your mobile home park business to improve your chances of success. Your mobile home park business plan is a living document that should be updated annually as your company grows and changes.  

Sources of Funding for Mobile Home Park Businesses

With regards to funding, the main sources of funding for a mobile home park business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for mobile home park companies.

Finish Your Business Plan Today!

How to write a business plan for a mobile home park.

If you want to start a mobile home park business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your mobile home park business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of mobile home park business you are running and the status. For example, are you a startup, do you have a mobile home park business that you would like to grow, or are you operating a chain of mobile home park businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the mobile home park industry.
• Discuss the type of mobile home park business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of mobile home park business you are operating.

For example, you might specialize in one of the following types of mobile home park businesses:

• Retiree or age restricted: This type of mobile home park caters to the needs and preferences of senior adults and usually has a minimum age requirement for residents.
• Family-friendly: This type of mobile home park caters to families and may have amenities that appeal to kids such as a playground or a pool.
• Budget or low cost: This type of mobile home park caters to people looking for the lowest price or those who wish to live a minimalist lifestyle. These parks typically have less amenities, but offer cheaper prices than other options.
• Luxury: This type of mobile home park caters to people looking for a high-end, designer mobile home. These parks are often located in more expensive areas.
• Pet-friendly: This type of mobile home park caters to pet owners and may include pet-friendly amenities such as a dog park.

In addition to explaining the type of mobile home park business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of mobile homes rented or sold, the number of parks opened, and reaching $X amount in revenue, etc.
• Your legal business structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the mobile home park industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the mobile home park industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your mobile home park business plan:

• How big is the mobile home park industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your mobile home park business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your mobile home park business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of mobile home park business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.  

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other mobile home park businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes other types of communities, apartment complexes, condominiums, etc. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of mobile home park business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you make it easier for your customers to obtain your product or service?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a mobile home park business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of mobile home park company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide luxury mobile home units, budget units, or fully furnished units?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your mobile home park. Document where your company is situated and mention how the site will impact your success. For example, is your mobile home park located close to public transportation, on the outskirts of city limits, or in a rural or secluded area? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your mobile home park marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your mobile home park business, including answering calls, showing units, billing tenets and collecting rent, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to acquire your Xth tenent, or when you hope to reach $X in revenue. It could also be when you expect to expand your mobile home park business to a new city.  

Management Team

To demonstrate your mobile home park business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing mobile home park businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a mobile home park or successfully running a small rental business.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will your mobile home park have 10 units, and will you expect to maintain a 70% capacity on average? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your mobile home park business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a mobile home park business:

• Cost of land, units, equipment, and supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your location lease or a list of amenities you provide.  

Writing a business plan for your mobile home park business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will understand the mobile home park industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful mobile home park business.

Mobile Home Park Business Plan FAQs

What is the easiest way to complete my mobile home park business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your mobile home park business plan.

How Do You Start a Mobile Home Park Business?

Starting a mobile home park business is easy with these 14 steps:

• Choose the Name for Your Mobile Home Park Business
• Create Your Mobile Home Park Business Plan
• Choose the Legal Structure for Your Mobile Home Park Business
• Secure Startup Funding for Your Mobile Home Park Business (If Needed)
• Secure a Location for Your Business
• Register Your Mobile Home Park Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Mobile Home Park Business
• Buy or Lease the Right Mobile Home Park Business Equipment
• Develop Your Mobile Home Park Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Mobile Home Park Business
• Open for Business

Learn more about how to start your own mobile home park business .

Don’t you wish there was a faster, easier way to finish your Mobile Home Park business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.  

Click here to see how a Growthink business planning advisor can create your business plan for you.  

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The Definitive Guide to Building Modular

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Find out how much modular homes really cost to build. Watch our informative video on price per square foot costs for a prefab home. This article is part of our Definitive Guide to Building Modular.  When asking how much a modular home will cost to build, many different sources will give you many different answers. Some […]

Building Stronger With Modular Construction

The general impression on modular homes used to be that they were created with inferior workmanship, but since the industry has evolved over the past few decades, modular homes have become known increasingly not only for their affordability, but also for their superior construction quality. This is due to a few major factors: access to […]

Green Living With Modular Homes

Since modular builders typically waste less raw material and manufacture and ship in massive amounts, the construction of a modular home is almost always more environmentally friendly than the construction of a similar site-built home. Where modular homes really shine though is in their ongoing energy efficiency.

Why Modular Construction Really IS Faster

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Guide to the Best Cheap Cell Phone Plans in 2024

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

The cheapest cell phone plans are typically prepaid, which means you only commit to the month(s) of service you pay for upfront. There’s usually no credit check to sign up and you have many choices.

What’s more is that these cheaper cell phone plan providers typically run on one or more of the three nationwide networks (those from Verizon, T-Mobile and AT&T). 

Cheaper plan, same nationwide coverage, what’s the catch?

Prepaid plans tend to come with fewer perks (e.g., that Disney+ or Netflix subscription you probably don’t need), can have less access to live customer service, and sometimes the fine print suggests network speeds may be slowed in favor of postpaid plan customers. Plus, an overwhelming number of options can make it challenging to choose a cheap plan in 2024. 

We’re here to help you map out the cheap cell phone plan landscape. We evaluated plans offered by popular cell phone service providers, considering brand ownership, nationwide network affiliation and monthly plan prices before taxes and fees.

When choosing a plan, lots of catchy marketing and fine print make it a windy road. But if you explore the options, you’ll likely save money with a prepaid plan.

Note: Most prices in the lists below are before taxes and fees.

Cheap(er) cell phone plans from Verizon, T-Mobile and AT&T

If you want to buy cell phone service directly from one of the big three wireless companies — Verizon, T-Mobile or AT&T — try one of their prepaid plans to save over a single-line postpaid plan.

Big three prepaid plans

Each offers a set of prepaid plans with unlimited talk and text and varying levels of data. Plans with a set amount of data run the lowest.

AT&T prepaid: Unlimited talk and text, 5GB of data for $30 per month. Notable: If you order online, you avoid a $15 activation fee. Some plans are eligible for automatic payment discounts, which vary by plan and may be higher with limited-time promotion deals.

T-Mobile prepaid: Unlimited talk and text, 10GB of data for $40 per month. Notable: T-Mobile prepaid plans don’t come with autopay discounts, but they do include other benefits like scam-blocking features and deals for discounts on food, gas and entertainment.

Verizon prepaid: Unlimited talk and text, 15GB of data for $35 per month (with an autopay discount). Notable: Verizon prepaid customers get a $5 per month loyalty discount after three months of service on eligible monthly plans. The discount grows to $10 per month after nine months of service.

You may have to hunt around for the “prepaid” section of these cell phone companies’ websites to bypass the flagship plans and get to cheaper stuff.

Cheap cell phone plans from brands owned by the big three

Each of the big three carriers has introduced or acquired competing sub-brands in the prepaid wireless space. Confusion aside, more competition means more opportunities for you, the consumer, to lower your cell phone bill .

Consider these popular options that are owned by the big three national carriers. 

But wait, there’s more 

Total by Verizon and Connect by T-Mobile are two lesser-known wireless spinoffs that may be worth a look. The latter boasts a $10-a-month plan that includes 1,000 minutes of talk time, 1,000 texts and 1GB of data.

Cheap cell phone plans from brands that resell network service

Wireless service brands not acquired or started by Verizon, AT&T or T-Mobile typically purchase and resell service on one or more of the big three’s nationwide networks.

Consider these options.

*Mint Mobile won’t be on its own much longer: In 2023, T-Mobile announced plans to acquire the budget carrier. Mint Mobile says the option for a $ 15-a-month plan will remain.

But wait, there’s more

There are too many more to list, actually. A few other cheap cell phone plan options that might be worth a look: Ting and Tello, as well as Ultra Mobile (which also will be acquired by T-Mobile, along with Mint, and makes a similar promise to retain its pricing). As well, you can explore whether you're eligible for the federal Lifeline program, which provides discounted phone service for low-income households .

Things to consider

With so many choices available, how do you decide which plan is right for you?

While the best plan is one that will fit into your budget , consider other factors, too. For instance, how much data do you use each month and how many lines will you need? Are there times when you’d like to use your phone outside the U.S.?

Assessing your data and usage goals, along with your budget, will help you narrow the many choices into a few that will work best for you.

How to switch plans and keep your number

Perhaps the most daunting factor in jumping to a new plan is the fear of losing your original phone number. But the Federal Communications Commission notes that consumers staying in the same geographic area can take their number to a new service provider, and sets rules on charges and speed of service.

Many providers are making this easy now. For example, Mint Mobile offers detailed instructions for how to switch from all the major carriers while keeping your number intact. Likewise, Consumer Cellular also states that it is easy to bring your number with you, though you’ll need to wait to cancel your existing plan until the transfer process is complete.

The bottom line: Read the fine print from your existing provider and the one you’re switching to before taking any action. The odds are good that you’ll be able to carry your phone number over, but you’ll need to follow each provider’s instructions.

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Create images with your words – Bing Image Creator comes to the new Bing

Mar 21, 2023 | Yusuf Mehdi - Corporate Vice President & Consumer Chief Marketing Officer

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Last month we introduced the new AI-powered Bing and Microsoft Edge, your copilot for the web – delivering better search, complete answers, a new chat experience and the ability to create content. Already, we have seen that chat is reinventing how people search with more than 100 million chats to date. We’ve seen people use chat in a variety of ways, from refining answers to complex questions to using it as a form of entertainment or for creative inspiration. Today we’re taking the chat experience to the next level by making the new Bing more visual.

We’re excited to announce we are bringing Bing Image Creator, new AI-powered visual Stories and updated Knowledge Cards to the new Bing and Edge preview. Powered by an advanced version of the DALL∙E model from our partners at OpenAI, Bing Image Creator allows you to create an image simply by using your own words to describe the picture you want to see. Now you can generate both written and visual content in one place, from within chat.

We know from research that the human brain processes visual information about 60,000 times faster than text , making visual tools a critical way people search, create and gain understanding. Based on Bing data, images are one of the most searched categories – second only to general web searches. Historically, search was limited to images that already existed on the web. Now, there are almost no limits to what you can search for and create.

For those in the Bing preview, Bing Image Creator will be fully integrated into the Bing chat experience, rolling out initially in Creative mode. By typing in a description of an image, providing additional context like location or activity, and choosing an art style, Image Creator will generate an image from your own imagination. It’s like your creative copilot. Just type something like “draw an image” or “create an image” as a prompt in chat to get creating a visual for a newsletter to friends or as inspiration for redecorating your living room.

Bing Image Creator preview will also be available in Microsoft Edge, making it the first and only browser with an integrated AI-powered image generator. To use Bing Image Creator in Edge, simply click the Bing Image Creator icon in the sidebar to create your image or invoke from Bing chat in Edge.

At Microsoft, our teams are guided by our Responsible AI principles and the Responsible AI Standard to help them develop and deploy AI systems responsibly. To curb the potential misuse of Image creator, we are working together with our partner OpenAI, who developed DALL∙E, to deliver an experience that encourages responsible use of Image Creator. We have ensured OpenAI’s safeguards, plus additional protections, have been incorporated into Image Creator. For example, we have put controls in place that aim to limit the generation of harmful or unsafe images. When our system detects that a potentially harmful image could be generated by a prompt, it blocks the prompt and warns the user. We also make it clear that Image Creator’s images are generated by AI, and we include a modified Bing icon in the bottom left corner of each image to help indicate that the image was created using Image Creator. We continue to work closely with OpenAI to build, test and review mitigations for our integrations.

Since making the new Bing available in preview, we have been testing it with people to get real-world feedback to learn and improve the experience. People used it in some ways we expected and others we didn’t. In this spirit of learning and continuing to build new capabilities responsibly, we’re rolling out Bing Image Creator in a phased approach by flighting with a set of preview users before expanding more broadly. We will initially only include Image Creator in the Creative mode of Bing chat and our intention is to make it available in Balanced and Precise mode over time. We are also working on some ongoing optimizations for how Image Creator works in multi-turn chats. We continue to believe the best way to bring these technologies to market is to test them carefully, in the open, where everyone can provide feedback.

New AI-Powered Visual Stories and Knowledge Cards

To support the growing demand for more visual search experiences, we are also making Stories and Knowledge Cards 2.0 available to all Bing users. Stories provide a more engaging way to search and interact with content, offering images and short videos. Also new to Bing users today, Knowledge Cards 2.0 is an AI-powered infographic-inspired experience that provides fun facts and key information at a glance. It’s been updated to include interactive, dynamic content like charts, graphs, timelines, visual stories and more. With these updates and more coming, our goal is to deliver more immersive experiences in Bing and Edge that make finding answers and exploring the web more interesting, useful and fun.

Availability

Bing Image Creator integrated into Bing chat will begin to roll out to Bing preview users on both desktop and mobile starting today. For those not in the new Bing preview, the preview experience of Image Creator is now available at bing.com/create for Bing users around the world in English. We will add more language support over time.

Bing Image Creator is also available in Microsoft Edge from the Image Creator icon in sidebar for both desktop and mobile starting today for Edge users around the world in English. We will also soon integrate Image Creator into Edge from the new Bing button in chat mode in the preview version of Edge.

If you’re not yet in the new Bing preview, you can sign up for the waitlist today. We’re adding more people every day. Thanks for your continued feedback and we look forward to sharing more updates soon.

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Impresa Modular

Modular Homes in Moscow, Pennsylvania

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Get to Know Impresa Modular

As a seasoned leader in custom modular homes, at Impresa Modular we pride ourselves in the ability to design, engineer and build a truly custom crafted home. Our team of expert consultants achieves this while maintaining our core beliefs of quality, customer satisfaction, service and value. We offer hundreds of standard plans, but they are used as a mere starting point to be modified by customers to meet specific lifestyle and housing needs. More often we are exploiting our modern modular construction techniques to create truly custom homes for our happy customers.

Our modular homes combine the best practices of traditional, site-built construction with the technological, economic and environmental advantages of creating your custom home in a controlled environment. The component parts in any home (for example, a light or a floor truss) are manufactured in a controlled factory environment according to precise specifications and tested to ensure that they meet industry standards. Modular homes from Impresa Modular are no different – we build our homes using similar techniques. The modular construction process results in a home that is built better, greener, faster, and with a fraction of the headaches presented by traditional, on site construction.

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Popular House Plans In Moscow, Pennsylvania

Brookside 3 2.5 1789 sqft This home is perfect for any place with a view. With its gables, dormers and wrap around porch it has... --> Bayview MK 3 2.0 1437 sqft When you walk in the foyer of this home you will be in Awe of the Great Room with its... --> Riverside 2 2.5 1136 sqft This Awesome Tiny House Cabin has everything you need. It has a great open floor plan and a nice sized... --> Albany MK 3 2.5 1670 sqft The Albany has a U-shaped kitchen and is open to the dining room. The master bathroom has a garden tub... --> Bainbridge 3 2.0 1840 sqft Cross over into a life of comfort and class with the Bainbridge plan. You’ll gain an appreciation for its features... --> Barclay 3 2.5 1315 sqft Two words capture the Barclay design: just right. Its 3 bedrooms and 2.5 baths are situated for maximum convenience and... --> Carlsbad 3 1.5 1056 sqft The Carlsbad is a spacious house plan. This single-story home features an open-concept living area, dining room, and kitchen with... --> Appalachian 2 2.0 1007 sqft This home has conveniently placed the laundry space in the kitchen right new to the master bedroom. Kitchen flows right... --> Afton Villa 4 3.0 2760 sqft If you’re ready for a home with awesome style that raises the bar, consider the Afton Villa plan. It’s a... --> Ranch Chalet 3 2.0 1568 sqft The Ranch Chalet is a charming and spacious home design. With a total living area of 1,586 square feet, this... -->

A Way to Better Living With Modular Homes

Our modular homes combine the best practices of traditional, site-built construction with the technological, economic and environmental advantages of creating your custom home in a controlled environment. The component parts in any home (for example, a light or a floor truss) are manufactured in a controlled factory environment according to precise specifications and tested to ensure that they meet industry standards. Modular homes from Impresa Modular are no different – we build our homes using similar techniques. The modular construction process results in a home that is built better, greener, faster , and with a fraction of the headaches presented by traditional, on site construction.

Local Home Lots For Sale in Moscow, Pennsylvania

Planning your modular home.

Modular homes are built in a modern, climate controlled factory. Every module is can insure that your home gets the attention to detail that you require. Quality material is standard and the latest in building technology is used to construct your new home . Only after final inspection are the modules prepped for transport to your home site.

Site built construction just doesn’t stand up to the forces that modular construction is constructed to withstand. Strength is built right into our modular homes to guarantee it is flawlessly installed on the foundation at your home site. A modular home can consist of as few as two modules and be made up of as many as 15 or even more. Modular design flexibility means your home can be built in practically any style: Chalet, Cape Cod, Two Story, Arts and Crafts, Contemporary, etc. You can get all of the advantages modular construction offers over traditionally built homes with no need to give up the style you want or the exterior finish you want.  The only thing that separates a finished modular home from a site built home is the factory quality that was designed in. 

Custom Home Plans and Modular Construction

There is a difference between a customized home and a custom home. Some builders say they build custom homes but what they really mean is that you can choose one of their limited home plan offerings and move/remove a wall, or choose an optional kitchen or bath layout. That isn’t a custom home. A custom home begins by defining your style, how you live, and how you want your home to support you. Some of our prospective customers start with one of our standard home plans and then customize it to their specific needs. Others find a custom home plan from our house plan partner’s website, Architectural Designs, and then we “modularize” it and build their new custom home.

A good custom home builder is an advocate for the homeowner. The home builder has to work with architects, designers, subcontractors, inspectors, and the homeowner themselves. Impresa Modular is the most experienced and knowledgeable custom home builder in the country that exclusively uses modern modular construction to deliver our custom homes to our customers. We want to start to work with you as soon as possible in the process of building your new custom home. We believe that the sooner we get involved and start supporting you in the building process, the better chance we have of helping you to create a better design and to possibly do it in such a way that can save you money. We want to give you the full value that modular construction has to offer!

Find Your Custom Plan

Energy efficiency.

With today’s sophisticated computer modeling and the increased requirement for high performance, energy efficient custom homes ; modular construction is a natural fit to fill the need. Many areas call for the use of the HERS Index to measure energy efficiency of new homes. The HERS index is a scoring system developed by the Residential Energy Services Network (RESNET) in which a home built to the specifications of the HERS Reference Home scores a HERS Index of 100, while a net zero energy home scores a HERS Index of 0. The lower a home’s HERS Index, the more energy efficient it is in comparison to the HERS Reference Home. Modular homes can typically reach scores of 50 – 60 with little extra costs or changes to our normal building method.

Modern modular construction means less homeowner headaches. Indoor construction in a controlled environment means exterior finishes are done last, instead of first. We can build your new home from the inside out, as opposed to conventional construction which builds from the outside in. What this means to you is that the outside envelope of your new home can be fabricated to be highly air-tight. This just comes standard with modular homes and their construction process. Additional insulation, better sealants, and the use of modern materials are a couple of the reasons to decide-on the worry-free benefits of modular construction for your new home.

Modular Homes in Nearby Cities

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Modular home styles.

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What is Impresa Modular? Impresa Modular is a nationwide modular home provider that helps you build your new custom home and do it at the best value possible. How? By giving you access to our nationwide network of state-of-the-art facilities that lead the industry in modular home design and quality for custom home building in Pennsylvania. You can refine your search through our modular home plans in Moscow, Pennsylvania by price, style, number of bedrooms, number of bathrooms, type of home (Including Two Stories , Chalets , Ranches , Cape Cods , Cabins ), and more. Use our interactive pricing search tool to refine your search based on the estimated finished price of your new custom modular home in Moscow and across other nearby Moscow zip codes. See local new home trends and view our Moscow Moving Resource Guide to view demographics, local activities and information for local school districts. Contact your New Home Consultant to learn about Moscow mortgages from multiple lenders and mortgage brokers to finance your home purchase.

Ukraine war latest: Russia claims it has seized more villages - as Ukraine faces 'extremely dangerous' moment

Fighting is ongoing in Kharkiv, Ukraine's governor for the region has said - as Russia claims it has taken control of multiple villages in its surprise offensive. Lord Cameron has warned it is an "extremely dangerous" moment in the war.

Sunday 12 May 2024 14:30, UK

• More than 4,000 civilians have fled Kharkiv region after Friday morning's surprise attack by Putin's military  
• Russia claims to have captured another four villages in Kharkiv - bringing total to nine
• Cameron says new Russian offensive marks 'extremely dangerous' moment for Ukraine  
• At least seven killed after apartment collapse in Belgorod - Russian media
• Eyewitness: Deborah Haynes reports from town 'flattened' in offensive
• Analysis:  Russia's attack in Kharkiv region not a complete surprise - but the force of it is
• Live reporting by Jake Levison

We've now got footage showing the moment a 10-storey apartment block collapsed in Belgorod.

At least seven people have been killed and 17 more injured after the building was struck by a shot-down missile, Russian media says.

Russian officials say the missile was part of an aerial attack by Ukraine. The claims have not been verified.

Footage also shows emergency services continuing to search the rubble for survivors.

We're seeing photos for the first time of Ukrainian soldiers on the front line against Russia's offensive in Kharkiv.

Their military chief Oleksandr Syrskyi earlier insisted Ukrainian forces were doing all they could to contain the Russian threat, but admitted it was proving a challenge.

You can see the impact of that challenge in the images below, two of which show Ukrainian military paramedics treating a wounded service member.

They're near the town of Vovchansk, which has seen some of the most brutal fighting since the Russian attack began on Friday.

 Some more details now from the ongoing search of a collapsed apartment block in the Russian city of Belgorod.

At least seven are dead and 17 injured after the 10-storey block fell, according to Russian media.

Russian officials say the building was struck by a Soviet-era missile launched by Ukraine that was shot down by Russia.

Specifically, they claimed it was a "massive mile attack" with Tochka ballistic missiles and Adler and RM-70 Vampire (MLRS) multiple launch rocket systems.

They said the attack, which involved at least 12 missiles, took place at 8.40am GMT.

Later, as emergency services scoured the rubble for survivors, the roof of the block collapsed and people ran for their lives, Reuters reported, with dust and rubble falling behind them.

Russian claims of a Ukrainian attack have not been verified and Kyiv officials have not commented.

Ukrainian officials never acknowledge responsibility for attacks on Russian territory or the Crimean Peninsula.

You may have noticed the bulk of our reporting over the past two days has covered two regions: Kharkiv in Ukraine and Belgorod in Russia.

A lot has happened in both, but here's a summary of events: 

In Kharkiv:  Russian forces have launched a brutal offensive, leading to fighting in various villages along the northeastern border separating Ukraine and Russia. 

Russia's defence ministry claims its troops have seized nine villages. Ukrainian officials, who have not commented on these claims, say thousands of civilians have been evacuated from the region.

In Belgorod:   Russian media has reported at least seven people have died and 15 more are injured after a whole section of the 10-storey building fell.

The governor of Russia's Belgorod region said the incident is a consequence of continuous attacks by Ukraine over the weekend - though Ukraine has not commented on the unverified claims.

Cities on opposite sides of the border

On the surface, these are completely separate incidents happening right next to each other.

And while Ukraine hasn't commented on whether it's responsible for the latest incident in Belgorod, it's no secret the city has regularly been targeted by Ukrainian artillery, drones and proxies over the past year.

Belgorod is a logistics hub for Russian military activity and Kyiv has always denied targeting civilians. 

Military analysts have speculated these attacks in Belgorod could have led Russia to carry out its brutal offensive in Kharkiv.

President Putin has long promised to create a buffer zone to push Ukrainian forces out of artillery range, which would limit the attacks on this frontier town. 

It's a likely motive, our military analyst  Sean Bell  has said, as is stretching Ukraine's military and potentially looking to seize the whole of Kharkiv.

We're seeing images from the Russian city of Belgorod, where part of a multi-storey apartment building has collapsed.

Russian media has reported at least seven people have died and 15 more are injured after a whole section of the 10-storey building fell.

Local officials have blamed the incident on "massive shelling by the armed forces of Ukraine" - but these claims have not been verified and Ukrainian officials have not commented.

Just before Russia claimed its troops had seized another four villages in Kharkiv, Ukraine's military chief had given an update on Telegram.

Oleksandr Syrskyi insisted his forces were doing all they could to contain the Russian threat, but admitted it was proving a challenge.

"Units of the Defence Forces are fighting fierce defensive battles, the attempts of the Russian invaders to break through our defences have been stopped," he said.

"The situation is difficult, but the Defence Forces of Ukraine are doing everything to hold defensive lines and positions, inflict damage on the enemy."

Ukrainian officials have not commented on reports from Russia claiming it has captured the villages of Hatyshche, Krasne, Morokhovets and Oliinykove.

The Russian defence ministry claims troops have seized four more villages in the Kharkiv region - which would bring the total to nine.

The ministry yesterday declared they had taken the Ukrainian villages of Borysivka, Ohirtseve, Pylna and Strilecha, all of which are directly on the border with Russia's Belgorod region.

Russian officials said they had also captured another village, Pletenivka.

Now they've claimed four more: Hatyshche, Krasne, Morokhovets and Oliinykove.

Kyiv has not commented on the latest claims, but Ukrainian officials have remained adamant up until now that the country's troops are continuing to fight and prevent Russians from claiming more ground.

At least seven people have died after the partial collapse of an apartment building in the Russian city of Belgorod, Russia's Mash Telegram news channel has reported.

The revised number is up from earlier reports, which said three people had died.

Mash reported at least another 15 people had been injured.

Vyacheslav Gladkov, the regional governor, blamed the incident on "massive shelling by the armed forces of Ukraine".

The claims have not been independently verified and there has been no comment from Ukrainian officials.

A witness at the scene told Reuters news agency there were many ambulances and fire engines at the site.

"A whole section of a 10-storey building collapsed," the witness told Reuters on condition of anonymity. 

"I see several victims. Firefighters are sorting through the rubble."

Our defence editor  Deborah Haynes  says there are real fears the key city of Kharkiv could come under threat of a Russian takeover.

As it stands, fighting is ongoing near the northeastern border of the Kharkiv region.

The Russian defence ministry has already claimed its troops have taken five border villages and Ukrainian officials have said they are trying to claim more ground.

Ukraine officials and military analysts have been adamant Russia would struggle to seize Kharkiv - Ukraine's second largest city - having already failed to do so earlier in the war.

But Haynes says Russia's "ferocious assault" that started on Friday will stretch Ukraine's "already outgunned and undermanned" forces.

"There are real fears that if Ukraine is not able to repel this offensive... Russia could once again threaten this key city of Kharkiv," she says.

By  Deborah Haynes , security and defence editor

Russia has reopened a major front in its war with Ukraine in a move that will stretch Kyiv's already undermanned and outgunned forces as they wait for Western weapons.

The Russian military unleashed a ferocious barrage of artillery and airstrikes in the early hours of Friday morning as ground troops attempted the most significant incursion into northeastern Ukraine - territory that shares a long border with Russia - in two years.

Fierce fighting raged into the weekend in different locations along a 45-mile strip of the frontier in the Kharkiv region.

Moscow claimed to have seized five villages, while Volodymyr Zelenskyy, the Ukrainian president, said battles were taking place around seven villages.

In a sign of the seriousness of the challenge, Ukraine is deploying reserve forces to help repel the Russian assault and a senior commander has been appointed to lead the effort.

The timing of the attack could not be worse for Kyiv - which presumably is why Russia decided to act.

Read more here ...

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