business plan for fit out company

How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

Table of Contents

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

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Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business. 

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry.

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What Is a Business Plan?

Understanding business plans, how to write a business plan, common elements of a business plan, the bottom line, business plan: what it is, what's included, and how to write one.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

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A business plan is a document that outlines a company's goals and the strategies to achieve them. It's valuable for both startups and established companies. For startups, a well-crafted business plan is crucial for attracting potential lenders and investors. Established businesses use business plans to stay on track and aligned with their growth objectives. This article will explain the key components of an effective business plan and guidance on how to write one.

Key Takeaways

• A business plan is a document detailing a company's business activities and strategies for achieving its goals.
• Startup companies use business plans to launch their venture and to attract outside investors.
• For established companies, a business plan helps keep the executive team focused on short- and long-term objectives.
• There's no single required format for a business plan, but certain key elements are essential for most companies.

Investopedia / Ryan Oakley

Any new business should have a business plan in place before beginning operations. Banks and venture capital firms often want to see a business plan before considering making a loan or providing capital to new businesses.

Even if a company doesn't need additional funding, having a business plan helps it stay focused on its goals. Research from the University of Oregon shows that businesses with a plan are significantly more likely to secure funding than those without one. Moreover, companies with a business plan grow 30% faster than those that don't plan. According to a Harvard Business Review article, entrepreneurs who write formal plans are 16% more likely to achieve viability than those who don't.

A business plan should ideally be reviewed and updated periodically to reflect achieved goals or changes in direction. An established business moving in a new direction might even create an entirely new plan.

There are numerous benefits to creating (and sticking to) a well-conceived business plan. It allows for careful consideration of ideas before significant investment, highlights potential obstacles to success, and provides a tool for seeking objective feedback from trusted outsiders. A business plan may also help ensure that a company’s executive team remains aligned on strategic action items and priorities.

While business plans vary widely, even among competitors in the same industry, they often share basic elements detailed below.

A well-crafted business plan is essential for attracting investors and guiding a company's strategic growth. It should address market needs and investor requirements and provide clear financial projections.

While there are any number of templates that you can use to write a business plan, it's best to try to avoid producing a generic-looking one. Let your plan reflect the unique personality of your business.

Many business plans use some combination of the sections below, with varying levels of detail, depending on the company.

The length of a business plan can vary greatly from business to business. Regardless, gathering the basic information into a 15- to 25-page document is best. Any additional crucial elements, such as patent applications, can be referenced in the main document and included as appendices.

Common elements in many business plans include:

• Executive summary : This section introduces the company and includes its mission statement along with relevant information about the company's leadership, employees, operations, and locations.
• Products and services : Describe the products and services the company offers or plans to introduce. Include details on pricing, product lifespan, and unique consumer benefits. Mention production and manufacturing processes, relevant patents , proprietary technology , and research and development (R&D) information.
• Market analysis : Explain the current state of the industry and the competition. Detail where the company fits in, the types of customers it plans to target, and how it plans to capture market share from competitors.
• Marketing strategy : Outline the company's plans to attract and retain customers, including anticipated advertising and marketing campaigns. Describe the distribution channels that will be used to deliver products or services to consumers.
• Financial plans and projections : Established businesses should include financial statements, balance sheets, and other relevant financial information. New businesses should provide financial targets and estimates for the first few years. This section may also include any funding requests.

Investors want to see a clear exit strategy, expected returns, and a timeline for cashing out. It's likely a good idea to provide five-year profitability forecasts and realistic financial estimates.

2 Types of Business Plans

Business plans can vary in format, often categorized into traditional and lean startup plans. According to the U.S. Small Business Administration (SBA) , the traditional business plan is the more common of the two.

• Traditional business plans : These are detailed and lengthy, requiring more effort to create but offering comprehensive information that can be persuasive to potential investors.
• Lean startup business plans : These are concise, sometimes just one page, and focus on key elements. While they save time, companies should be ready to provide additional details if requested by investors or lenders.

Why Do Business Plans Fail?

A business plan isn't a surefire recipe for success. The plan may have been unrealistic in its assumptions and projections. Markets and the economy might change in ways that couldn't have been foreseen. A competitor might introduce a revolutionary new product or service. All this calls for building flexibility into your plan, so you can pivot to a new course if needed.

How Often Should a Business Plan Be Updated?

How frequently a business plan needs to be revised will depend on its nature. Updating your business plan is crucial due to changes in external factors (market trends, competition, and regulations) and internal developments (like employee growth and new products). While a well-established business might want to review its plan once a year and make changes if necessary, a new or fast-growing business in a fiercely competitive market might want to revise it more often, such as quarterly.

What Does a Lean Startup Business Plan Include?

The lean startup business plan is ideal for quickly explaining a business, especially for new companies that don't have much information yet. Key sections may include a value proposition , major activities and advantages, resources (staff, intellectual property, and capital), partnerships, customer segments, and revenue sources.

A well-crafted business plan is crucial for any company, whether it's a startup looking for investment or an established business wanting to stay on course. It outlines goals and strategies, boosting a company's chances of securing funding and achieving growth.

As your business and the market change, update your business plan regularly. This keeps it relevant and aligned with your current goals and conditions. Think of your business plan as a living document that evolves with your company, not something carved in stone.

University of Oregon Department of Economics. " Evaluation of the Effectiveness of Business Planning Using Palo Alto's Business Plan Pro ." Eason Ding & Tim Hursey.

Bplans. " Do You Need a Business Plan? Scientific Research Says Yes ."

Harvard Business Review. " Research: Writing a Business Plan Makes Your Startup More Likely to Succeed ."

Harvard Business Review. " How to Write a Winning Business Plan ."

U.S. Small Business Administration. " Write Your Business Plan ."

SCORE. " When and Why Should You Review Your Business Plan? "

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The Fit-Out Construction Process and Various Fit-Out Categories

The process of preparing an interior space for occupation, commonly known as “fit-out construction,” plays a crucial role in commercial building development. Unlike traditional construction methods where interior spaces are left bare, fit-outs provide flexibility for occupants to determine the necessary refurbishments.

Essentially, fit-out construction involves the installation of key elements like floors, ceilings, partitions, and furnishings. Beyond aesthetics, it includes essential building services such as cabling, wiring, internet connectivity, and communication setups. This strategic approach not only shapes the overall look of the establishment but also ensures the smooth integration of vital services for optimal functionality.

Distinguishing Between Fit-Outs and Renovations

It’s common for people to mix up fit-outs and renovations, often using the terms interchangeably. However, despite their close connection, each serves a unique purpose with distinct processes.  

To shed light on these terms, let’s consider the context of fit-out construction, using an office as an example.

Understanding Office Fit-Outs  

An office fit-out entails the transformation of an empty space into a functional office setup. This involves the installation of structural elements such as window placements, door fittings, heating, plumbing and ventilation systems.

Understanding Office Renovations

In contrast, an office renovation primarily focuses on the interior design aspects. This encompasses the features required to impart a professional appearance to the space. Renovation revolves around enhancing aesthetics, involving activities like painting, upgrading furniture, and incorporating decor elements. Typically, the process of office renovation extends over a more prolonged period compared to a fit-out construction.

Exploring Various Types of Fit-Out Construction

Fit-out construction for commercial spaces include distinct categories, namely Category A, Category B, and Shell-Core fit-outs. Familiarizing yourself with the nuances of each category is essential for making well-informed decisions during the fit-out process:  

Shell-Core Fit-Out  

In this scenario, the building’s structural framework is already established, awaiting the fit-out phase. Despite the exterior appearing complete, crucial elements like power infrastructure, interior partitions, lighting, and heating are yet to be integrated.  

Opting for a shell and core fit-out provides businesses with the flexibility to develop the space to their precise requirements. This option is particularly beneficial for expansive enterprises occupying significant areas.

Category A Fit-Out

A Category A fit-out characterizes a commercial space ready for leasing, presenting a fundamental functional unit with essential utilities like electrical wiring and plumbing fixtures already in place.  

Typically, a Category A fit-out involves the installation of essential features such as:  

– HVAC systems  

– Fire protection systems  

– Toilets  

– Grid ceiling  

– Electrical outlets  

– Raised access floors  

While the space is operationally sound, it lacks the additional design elements necessary to optimize it for its intended purpose. Post this initial construction phase, businesses proceed to implement a Category B layout. Enhancing your understanding of these fit-out variations ensures a seamless decision-making process for your commercial space.

Category B Fit-Out  

With fit-out construction, Category B emerges as a dedicated solution that caters to the distinct requirements and image of your business. Unlike Category A, Category B focuses on enhancing the aesthetic appeal of the space by incorporating features and systems beyond the basics.

Within this fit-out phase, considerations extend to window treatments, furniture integration, lighting fixtures, flooring additions, partitioning, painting, and branding elements. This comprehensive approach ensures that your workspace is not only functional but also reflects a personalized and business-specific touch.

In the optimization of fit-out construction, the key phrase “fit-out construction” seamlessly intertwines with the need for a space that resonates with your company’s culture, work ethos, team dynamics, and protocols. It’s an opportunity to infuse creativity and align the design with your unique business style, crafting a compelling brand image that elevates your professional environment.  

Considerations Before Initiating a Fit-Out Construction Project  

Efficient planning and preparation are pivotal in the realm of commercial fit-out construction. Prior to commencing any project, take into account several crucial factors that can significantly impact the success of the project:  

Thorough Cost Evaluation

Before initiating a fit-out construction venture for commercial spaces, it is imperative to ensure that the initial quotation provided by the interior design entity is all-encompassing, leaving no room for unforeseen expenses. Take the time to scrutinize the quotation, verifying its coverage of essential components such as design briefs, technical plans, building assessment, project management, material delivery, and the construction process. A comprehensive quote aids in effective budgeting, shielding the company from unexpected spikes in the final costs.  

Align Design with Branding

Harmonize the new office design with the company’s brand elements, including colors, appearance, culture, values, and vision. The design should extend from other marketing collateral, ensuring a consistent impression for clients across various touchpoints, whether they are walking into the office, perusing brochures, exploring the company’s website, or visiting social media pages.

Optimize Service System Designs

Craft the fit-out design to optimize the efficiency of various workplace systems, catering to staff needs. This includes ensuring a reliable HVAC system for optimal office temperature, sufficient lighting, ample power sockets, and other essential elements. Consult employees to gather vital information about the commercial space before finalizing the layout with the designer.  

Streamline IT and Telecom Migration

Disruptions in communication, such as internet and telephone services, can be significant challenges during a workplace transition. To mitigate such disruptions, enlist the expertise of a trustworthy fit-out specialist to devise a robust migration plan for the communication system. A smooth migration process ensures uninterrupted client communication even when the business is transitioning to new offices.  

Ensure Legal Compliance

The new fit-out design must adhere to all government regulations, encompassing areas such as fire safety, electrical setups, workspace adequacy, and health standards. Complying with these regulations reduces the risk of employee illnesses, injuries, and accidents, while also shielding the company from potential legal complications.  

Incorporate Expansion Opportunities

While not always feasible, it is prudent to design an office space that accommodates potential expansion in the future. Allowing for additional equipment and furniture as the business grows ensures flexibility and eliminates the need for relocation, resulting in cost savings.

Commercial Fit-Out Simplified Process

Embarking on a fit-out construction for your business need not be overwhelming. The collaborative effort of your team and experienced professionals in construction and design can make the process seamless. Here’s a straightforward guide to follow when transforming your new business space:  

Assemble Your Fit-Out Team:

Choose individuals within your organization who possess organizational skills, creativity, numerical acumen, and decision-making ability. This diverse team should collectively:  

   – Identify optimal workspace configurations for employees  

   – Set and communicate the budget effectively  

   – Determine the required space and plan for future growth  

Building Exploration and Assessment:

Decide whether to stay in your current building or explore new opportunities. Seek advice from peers and consider the potential for growth. If opting for a new commercial space, enlist a reputable property agent’s assistance.  

Legal Guidance:

Engage a legal team to compare leases, initiate negotiations, and finalize the old lease if relocating. They will also handle all legal aspects of the fit-out project.  

Select a Fit-Out Partner:

Thoroughly research and choose a fit-out company that can provide all the necessary services. Streamlining with a single partner is crucial for a smoother process.  

Design Blueprint:

Collaborate with an office interior designer to finalize the design and scope of work. Communicate specific needs, including branding and operational efficiency.  

Pre-construction Planning:

Plan with your fit-out partner to ensure minimal disruptions to ongoing business operations during the construction phase.  

Initiate Fit-Out:

Maintain constant communication with the team once the fit-out begins, allowing for effective implementation of any changes to the plan.  

Dilapidations:

If moving to a new location, plan with your fit-out partner to restore the previous space as required by the building management.  

Smooth Migration:

When ready to move to the new office, enlist a reputable company to facilitate the migration process seamlessly. Choosing an all-in-one fit-out company, including migration services, is vital from the project’s outset.

Ongoing Maintenance:

After the move, prioritize the maintenance of essential systems such as fire, hydraulic, and security. Any necessary adjustments can be addressed during routine maintenance.

Following these steps ensures a well-organized and efficient fit-out construction process for your business space.

Pitfalls to Dodge in Fit-Out Construction

A fit-out project demands careful consideration and a keen eye for detail. Numerous businesses find themselves entangled in avoidable mistakes during the fit-out process. Let’s delve into the key blunders and how to sidestep them for a successful fit-out construction:  

Haste in Project Planning

One of the cardinal sins in fit-out construction is hastily bypassing the planning phase. This can lead to a subpar fit-out, resulting in wasted resources and a constant need for renovations.  

Hire a fit-out specialist to meticulously craft a plan that maximizes limited space, stretching your budget while maintaining top-notch quality.

Dysfunctional Spatial Design

Craft a layout plan that harmonizes current needs with future business plans.  

Consider the perspective of both employees and visitors, ensuring the office space is not only functional but also aesthetically pleasing. Address every facet, from the working area to access to communal spaces like conference rooms, reception, and break areas.  

Inadequate Financial Planning

A cornerstone of successful fit-out construction is a well-thought-out budget that accommodates unforeseen changes in costs.

Define your financial framework and operate within its confines. Collaborate with a fit-out expert to empower your budgeting efforts and anticipate potential cost fluctuations.  

Ignoring Future Business Growth

Ensure your fit-out design allows for future expansion needs. Opt for flexible, contemporary designs over permanent fixtures, and communicate long-term corporate plans to your fit-out specialist for seamless integration.

Blindly Imitating Other Designs

While drawing inspiration from other fit-out designs is acceptable, outright replication may not capture the same essence, especially across different sectors.

Infuse your company’s core values, goals, and achievements into the fit-out design to distinguish yourself in the competitive landscape.  

Overlooking Landlord Regulations

Failure to fully comprehend landlord regulations and restrictions can significantly impact project costs and timelines. Address issues such as operational hours upfront to prevent project delays.

Prior to kickstarting the fit-out project, engage in thorough discussions with the landlord or their representative, ensuring alignment on project conduct.

Neglecting Lighting and Ventilation

Poorly lit and inadequately ventilated spaces can adversely affect health and productivity. Prioritize a fit-out design that incorporates large windows for ample natural light and airflow. Seek advice from your fit-out expert on eco-friendly office designs to attract clients and conserve energy.

Forgetting Employee Input

Considering that employees spend a substantial amount of time in the office, their input is invaluable when shaping the fit-out design. Consult with them to identify preferences and priorities, ensuring a workspace that meets both functional and personal needs.

The Right Fit-Out Construction Service for Optimal Outcomes

Choosing the right fit-out construction service is crucial for the success of your business. A well-executed fit-out guarantees efficient operations, enhanced employee productivity, and a pleasing atmosphere for customers within your business space.

It’s important to understand that this is more than just a routine renovation; it’s about shaping the public perception of your business. Therefore, allocating a practical budget for this endeavor is essential to achieve the most favorable outcomes.  

What is fit-out construction?

Fit-out construction involves customizing and enhancing the interior of a commercial space to meet specific functional and aesthetic requirements.

Why is fit-out important for businesses?

A well-planned fit-out is crucial for creating an efficient workspace, boosting employee productivity, and leaving a positive impression on customers.

How long does a typical fit-out project take?

The duration varies based on the size and complexity of the project, but it usually ranges from a few weeks to a few months.

Can I customize the design according to my brand?

Yes, fit-out construction allows for personalized design choices to align with your brand identity and business objectives.

What factors influence the cost of a fit-out project?

The project cost is influenced by factors such as the size of the space, the level of customization, choice of materials, and specific requirements unique to your business.

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How to Write a Business Plan in 9 Steps (+ Template and Examples)

Every successful business has one thing in common, a good and well-executed business plan. A business plan is more than a document, it is a complete guide that outlines the goals your business wants to achieve, including its financial goals . It helps you analyze results, make strategic decisions, show your business operations and growth.

If you want to start a business or already have one and need to pitch it to investors for funding, writing a good business plan improves your chances of attracting financiers. As a startup, if you want to secure loans from financial institutions, part of the requirements involve submitting your business plan.

Writing a business plan does not have to be a complicated or time-consuming process. In this article, you will learn the step-by-step process for writing a successful business plan.

You will also learn what you need a business plan for, tips and strategies for writing a convincing business plan, business plan examples and templates that will save you tons of time, and the alternatives to the traditional business plan.

Let’s get started.

What Do You Need A Business Plan For?

Businesses create business plans for different purposes such as to secure funds, monitor business growth, measure your marketing strategies, and measure your business success.

1. Secure Funds

One of the primary reasons for writing a business plan is to secure funds, either from financial institutions/agencies or investors.

For you to effectively acquire funds, your business plan must contain the key elements of your business plan . For example, your business plan should include your growth plans, goals you want to achieve, and milestones you have recorded.

A business plan can also attract new business partners that are willing to contribute financially and intellectually. If you are writing a business plan to a bank, your project must show your traction , that is, the proof that you can pay back any loan borrowed.

Also, if you are writing to an investor, your plan must contain evidence that you can effectively utilize the funds you want them to invest in your business. Here, you are using your business plan to persuade a group or an individual that your business is a source of a good investment.

2. Monitor Business Growth

A business plan can help you track cash flows in your business. It steers your business to greater heights. A business plan capable of tracking business growth should contain:

• The business goals
• Methods to achieve the goals
• Time-frame for attaining those goals

A good business plan should guide you through every step in achieving your goals. It can also track the allocation of assets to every aspect of the business. You can tell when you are spending more than you should on a project.

You can compare a business plan to a written GPS. It helps you manage your business and hints at the right time to expand your business.

3. Measure Business Success

A business plan can help you measure your business success rate. Some small-scale businesses are thriving better than more prominent companies because of their track record of success.

Right from the onset of your business operation, set goals and work towards them. Write a plan to guide you through your procedures. Use your plan to measure how much you have achieved and how much is left to attain.

You can also weigh your success by monitoring the position of your brand relative to competitors. On the other hand, a business plan can also show you why you have not achieved a goal. It can tell if you have elapsed the time frame you set to attain a goal.

4. Document Your Marketing Strategies

You can use a business plan to document your marketing plans. Every business should have an effective marketing plan.

Competition mandates every business owner to go the extraordinary mile to remain relevant in the market. Your business plan should contain your marketing strategies that work. You can measure the success rate of your marketing plans.

In your business plan, your marketing strategy must answer the questions:

• How do you want to reach your target audience?
• How do you plan to retain your customers?
• What is/are your pricing plans?
• What is your budget for marketing?

How to Write a Business Plan Step-by-Step

1. create your executive summary.

The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans . Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.

Generally, there are nine sections in a business plan, the executive summary should condense essential ideas from the other eight sections.

A good executive summary should do the following:

• A Snapshot of Growth Potential. Briefly inform the reader about your company and why it will be successful)
• Contain your Mission Statement which explains what the main objective or focus of your business is.
• Product Description and Differentiation. Brief description of your products or services and why it is different from other solutions in the market.
• The Team. Basic information about your company’s leadership team and employees
• Business Concept. A solid description of what your business does.
• Target Market. The customers you plan to sell to.
• Marketing Strategy. Your plans on reaching and selling to your customers
• Current Financial State. Brief information about what revenue your business currently generates.
• Projected Financial State. Brief information about what you foresee your business revenue to be in the future.

The executive summary is the make-or-break section of your business plan. If your summary cannot in less than two pages cannot clearly describe how your business will solve a particular problem of your target audience and make a profit, your business plan is set on a faulty foundation.

Avoid using the executive summary to hype your business, instead, focus on helping the reader understand the what and how of your plan.

View the executive summary as an opportunity to introduce your vision for your company. You know your executive summary is powerful when it can answer these key questions:

• Who is your target audience?
• What sector or industry are you in?
• What are your products and services?
• What is the future of your industry?
• Is your company scaleable?
• Who are the owners and leaders of your company? What are their backgrounds and experience levels?
• What is the motivation for starting your company?
• What are the next steps?

Writing the executive summary last although it is the most important section of your business plan is an excellent idea. The reason why is because it is a high-level overview of your business plan. It is the section that determines whether potential investors and lenders will read further or not.

The executive summary can be a stand-alone document that covers everything in your business plan. It is not uncommon for investors to request only the executive summary when evaluating your business. If the information in the executive summary impresses them, they will ask for the complete business plan.

If you are writing your business plan for your planning purposes, you do not need to write the executive summary.

2. Add Your Company Overview

The company overview or description is the next section in your business plan after the executive summary. It describes what your business does.

Adding your company overview can be tricky especially when your business is still in the planning stages. Existing businesses can easily summarize their current operations but may encounter difficulties trying to explain what they plan to become.

Your company overview should contain the following:

• What products and services you will provide
• Geographical markets and locations your company have a presence
• What you need to run your business
• Who your target audience or customers are
• Who will service your customers
• Your company’s purpose, mission, and vision
• Information about your company’s founders
• Who the founders are
• Notable achievements of your company so far

When creating a company overview, you have to focus on three basics: identifying your industry, identifying your customer, and explaining the problem you solve.

If you are stuck when creating your company overview, try to answer some of these questions that pertain to you.

• Who are you targeting? (The answer is not everyone)
• What pain point does your product or service solve for your customers that they will be willing to spend money on resolving?
• How does your product or service overcome that pain point?
• Where is the location of your business?
• What products, equipment, and services do you need to run your business?
• How is your company’s product or service different from your competition in the eyes of your customers?
• How many employees do you need and what skills do you require them to have?

After answering some or all of these questions, you will get more than enough information you need to write your company overview or description section. When writing this section, describe what your company does for your customers.

The company description or overview section contains three elements: mission statement, history, and objectives.

• Mission Statement

The mission statement refers to the reason why your business or company is existing. It goes beyond what you do or sell, it is about the ‘why’. A good mission statement should be emotional and inspirational.

Your mission statement should follow the KISS rule (Keep It Simple, Stupid). For example, Shopify’s mission statement is “Make commerce better for everyone.”

When describing your company’s history, make it simple and avoid the temptation of tying it to a defensive narrative. Write it in the manner you would a profile. Your company’s history should include the following information:

• Founding Date
• Major Milestones
• Location(s)
• Flagship Products or Services
• Number of Employees
• Executive Leadership Roles

When you fill in this information, you use it to write one or two paragraphs about your company’s history.

Business Objectives

Your business objective must be SMART (specific, measurable, achievable, realistic, and time-bound.) Failure to clearly identify your business objectives does not inspire confidence and makes it hard for your team members to work towards a common purpose.

3. Perform Market and Competitive Analyses to Proof a Big Enough Business Opportunity

The third step in writing a business plan is the market and competitive analysis section. Every business, no matter the size, needs to perform comprehensive market and competitive analyses before it enters into a market.

Performing market and competitive analyses are critical for the success of your business. It helps you avoid entering the right market with the wrong product, or vice versa. Anyone reading your business plans, especially financiers and financial institutions will want to see proof that there is a big enough business opportunity you are targeting.

This section is where you describe the market and industry you want to operate in and show the big opportunities in the market that your business can leverage to make a profit. If you noticed any unique trends when doing your research, show them in this section.

Market analysis alone is not enough, you have to add competitive analysis to strengthen this section. There are already businesses in the industry or market, how do you plan to take a share of the market from them?

You have to clearly illustrate the competitive landscape in your business plan. Are there areas your competitors are doing well? Are there areas where they are not doing so well? Show it.

Make it clear in this section why you are moving into the industry and what weaknesses are present there that you plan to explain. How are your competitors going to react to your market entry? How do you plan to get customers? Do you plan on taking your competitors' competitors, tap into other sources for customers, or both?

Illustrate the competitive landscape as well. What are your competitors doing well and not so well?

Answering these questions and thoughts will aid your market and competitive analysis of the opportunities in your space. Depending on how sophisticated your industry is, or the expectations of your financiers, you may need to carry out a more comprehensive market and competitive analysis to prove that big business opportunity.

Instead of looking at the market and competitive analyses as one entity, separating them will make the research even more comprehensive.

Market Analysis

Market analysis, boarding speaking, refers to research a business carried out on its industry, market, and competitors. It helps businesses gain a good understanding of their target market and the outlook of their industry. Before starting a company, it is vital to carry out market research to find out if the market is viable.

The market analysis section is a key part of the business plan. It is the section where you identify who your best clients or customers are. You cannot omit this section, without it your business plan is incomplete.

A good market analysis will tell your readers how you fit into the existing market and what makes you stand out. This section requires in-depth research, it will probably be the most time-consuming part of the business plan to write.

• Market Research

To create a compelling market analysis that will win over investors and financial institutions, you have to carry out thorough market research . Your market research should be targeted at your primary target market for your products or services. Here is what you want to find out about your target market.

• Your target market’s needs or pain points
• The existing solutions for their pain points
• Geographic Location
• Demographics

The purpose of carrying out a marketing analysis is to get all the information you need to show that you have a solid and thorough understanding of your target audience.

Only after you have fully understood the people you plan to sell your products or services to, can you evaluate correctly if your target market will be interested in your products or services.

You can easily convince interested parties to invest in your business if you can show them you thoroughly understand the market and show them that there is a market for your products or services.

How to Quantify Your Target Market

One of the goals of your marketing research is to understand who your ideal customers are and their purchasing power. To quantify your target market, you have to determine the following:

• Your Potential Customers: They are the people you plan to target. For example, if you sell accounting software for small businesses , then anyone who runs an enterprise or large business is unlikely to be your customers. Also, individuals who do not have a business will most likely not be interested in your product.
• Total Households: If you are selling household products such as heating and air conditioning systems, determining the number of total households is more important than finding out the total population in the area you want to sell to. The logic is simple, people buy the product but it is the household that uses it.
• Median Income: You need to know the median income of your target market. If you target a market that cannot afford to buy your products and services, your business will not last long.
• Income by Demographics: If your potential customers belong to a certain age group or gender, determining income levels by demographics is necessary. For example, if you sell men's clothes, your target audience is men.

What Does a Good Market Analysis Entail?

Your business does not exist on its own, it can only flourish within an industry and alongside competitors. Market analysis takes into consideration your industry, target market, and competitors. Understanding these three entities will drastically improve your company’s chances of success.

You can view your market analysis as an examination of the market you want to break into and an education on the emerging trends and themes in that market. Good market analyses include the following:

• Industry Description. You find out about the history of your industry, the current and future market size, and who the largest players/companies are in your industry.
• Overview of Target Market. You research your target market and its characteristics. Who are you targeting? Note, it cannot be everyone, it has to be a specific group. You also have to find out all information possible about your customers that can help you understand how and why they make buying decisions.
• Size of Target Market: You need to know the size of your target market, how frequently they buy, and the expected quantity they buy so you do not risk overproducing and having lots of bad inventory. Researching the size of your target market will help you determine if it is big enough for sustained business or not.
• Growth Potential: Before picking a target market, you want to be sure there are lots of potential for future growth. You want to avoid going for an industry that is declining slowly or rapidly with almost zero growth potential.
• Market Share Potential: Does your business stand a good chance of taking a good share of the market?
• Market Pricing and Promotional Strategies: Your market analysis should give you an idea of the price point you can expect to charge for your products and services. Researching your target market will also give you ideas of pricing strategies you can implement to break into the market or to enjoy maximum profits.
• Potential Barriers to Entry: One of the biggest benefits of conducting market analysis is that it shows you every potential barrier to entry your business will likely encounter. It is a good idea to discuss potential barriers to entry such as changing technology. It informs readers of your business plan that you understand the market.
• Research on Competitors: You need to know the strengths and weaknesses of your competitors and how you can exploit them for the benefit of your business. Find patterns and trends among your competitors that make them successful, discover what works and what doesn’t, and see what you can do better.

The market analysis section is not just for talking about your target market, industry, and competitors. You also have to explain how your company can fill the hole you have identified in the market.

Here are some questions you can answer that can help you position your product or service in a positive light to your readers.

• Is your product or service of superior quality?
• What additional features do you offer that your competitors do not offer?
• Are you targeting a ‘new’ market?

Basically, your market analysis should include an analysis of what already exists in the market and an explanation of how your company fits into the market.

Competitive Analysis

In the competitive analysis section, y ou have to understand who your direct and indirect competitions are, and how successful they are in the marketplace. It is the section where you assess the strengths and weaknesses of your competitors, the advantage(s) they possess in the market and show the unique features or qualities that make you different from your competitors.

Many businesses do market analysis and competitive analysis together. However, to fully understand what the competitive analysis entails, it is essential to separate it from the market analysis.

Competitive analysis for your business can also include analysis on how to overcome barriers to entry in your target market.

The primary goal of conducting a competitive analysis is to distinguish your business from your competitors. A strong competitive analysis is essential if you want to convince potential funding sources to invest in your business. You have to show potential investors and lenders that your business has what it takes to compete in the marketplace successfully.

Competitive analysis will s how you what the strengths of your competition are and what they are doing to maintain that advantage.

When doing your competitive research, you first have to identify your competitor and then get all the information you can about them. The idea of spending time to identify your competitor and learn everything about them may seem daunting but it is well worth it.

Find answers to the following questions after you have identified who your competitors are.

• What are your successful competitors doing?
• Why is what they are doing working?
• Can your business do it better?
• What are the weaknesses of your successful competitors?
• What are they not doing well?
• Can your business turn its weaknesses into strengths?
• How good is your competitors’ customer service?
• Where do your competitors invest in advertising?
• What sales and pricing strategies are they using?
• What marketing strategies are they using?
• What kind of press coverage do they get?
• What are their customers saying about your competitors (both the positive and negative)?

If your competitors have a website, it is a good idea to visit their websites for more competitors’ research. Check their “About Us” page for more information.

If you are presenting your business plan to investors, you need to clearly distinguish yourself from your competitors. Investors can easily tell when you have not properly researched your competitors.

Take time to think about what unique qualities or features set you apart from your competitors. If you do not have any direct competition offering your product to the market, it does not mean you leave out the competitor analysis section blank. Instead research on other companies that are providing a similar product, or whose product is solving the problem your product solves.

The next step is to create a table listing the top competitors you want to include in your business plan. Ensure you list your business as the last and on the right. What you just created is known as the competitor analysis table.

Direct vs Indirect Competition

You cannot know if your product or service will be a fit for your target market if you have not understood your business and the competitive landscape.

There is no market you want to target where you will not encounter competition, even if your product is innovative. Including competitive analysis in your business plan is essential.

If you are entering an established market, you need to explain how you plan to differentiate your products from the available options in the market. Also, include a list of few companies that you view as your direct competitors The competition you face in an established market is your direct competition.

In situations where you are entering a market with no direct competition, it does not mean there is no competition there. Consider your indirect competition that offers substitutes for the products or services you offer.

For example, if you sell an innovative SaaS product, let us say a project management software , a company offering time management software is your indirect competition.

There is an easy way to find out who your indirect competitors are in the absence of no direct competitors. You simply have to research how your potential customers are solving the problems that your product or service seeks to solve. That is your direct competition.

Factors that Differentiate Your Business from the Competition

There are three main factors that any business can use to differentiate itself from its competition. They are cost leadership, product differentiation, and market segmentation.

1. Cost Leadership

A strategy you can impose to maximize your profits and gain an edge over your competitors. It involves offering lower prices than what the majority of your competitors are offering.

A common practice among businesses looking to enter into a market where there are dominant players is to use free trials or pricing to attract as many customers as possible to their offer.

2. Product Differentiation

Your product or service should have a unique selling proposition (USP) that your competitors do not have or do not stress in their marketing.

Part of the marketing strategy should involve making your products unique and different from your competitors. It does not have to be different from your competitors, it can be the addition to a feature or benefit that your competitors do not currently have.

3. Market Segmentation

As a new business seeking to break into an industry, you will gain more success from focusing on a specific niche or target market, and not the whole industry.

If your competitors are focused on a general need or target market, you can differentiate yourself from them by having a small and hyper-targeted audience. For example, if your competitors are selling men’s clothes in their online stores , you can sell hoodies for men.

4. Define Your Business and Management Structure

The next step in your business plan is your business and management structure. It is the section where you describe the legal structure of your business and the team running it.

Your business is only as good as the management team that runs it, while the management team can only strive when there is a proper business and management structure in place.

If your company is a sole proprietor or a limited liability company (LLC), a general or limited partnership, or a C or an S corporation, state it clearly in this section.

Use an organizational chart to show the management structure in your business. Clearly show who is in charge of what area in your company. It is where you show how each key manager or team leader’s unique experience can contribute immensely to the success of your company. You can also opt to add the resumes and CVs of the key players in your company.

The business and management structure section should show who the owner is, and other owners of the businesses (if the business has other owners). For businesses or companies with multiple owners, include the percent ownership of the various owners and clearly show the extent of each others’ involvement in the company.

Investors want to know who is behind the company and the team running it to determine if it has the right management to achieve its set goals.

Management Team

The management team section is where you show that you have the right team in place to successfully execute the business operations and ideas. Take time to create the management structure for your business. Think about all the important roles and responsibilities that you need managers for to grow your business.

Include brief bios of each key team member and ensure you highlight only the relevant information that is needed. If your team members have background industry experience or have held top positions for other companies and achieved success while filling that role, highlight it in this section.

A common mistake that many startups make is assigning C-level titles such as (CMO and CEO) to everyone on their team. It is unrealistic for a small business to have those titles. While it may look good on paper for the ego of your team members, it can prevent investors from investing in your business.

Instead of building an unrealistic management structure that does not fit your business reality, it is best to allow business titles to grow as the business grows. Starting everyone at the top leaves no room for future change or growth, which is bad for productivity.

Your management team does not have to be complete before you start writing your business plan. You can have a complete business plan even when there are managerial positions that are empty and need filling.

If you have management gaps in your team, simply show the gaps and indicate you are searching for the right candidates for the role(s). Investors do not expect you to have a full management team when you are just starting your business.

Key Questions to Answer When Structuring Your Management Team

• Who are the key leaders?
• What experiences, skills, and educational backgrounds do you expect your key leaders to have?
• Do your key leaders have industry experience?
• What positions will they fill and what duties will they perform in those positions?
• What level of authority do the key leaders have and what are their responsibilities?
• What is the salary for the various management positions that will attract the ideal candidates?

Additional Tips for Writing the Management Structure Section

1. Avoid Adding ‘Ghost’ Names to Your Management Team

There is always that temptation to include a ‘ghost’ name to your management team to attract and influence investors to invest in your business. Although the presence of these celebrity management team members may attract the attention of investors, it can cause your business to lose any credibility if you get found out.

Seasoned investors will investigate further the members of your management team before committing fully to your business If they find out that the celebrity name used does not play any actual role in your business, they will not invest and may write you off as dishonest.

2. Focus on Credentials But Pay Extra Attention to the Roles

Investors want to know the experience that your key team members have to determine if they can successfully reach the company’s growth and financial goals.

While it is an excellent boost for your key management team to have the right credentials, you also want to pay extra attention to the roles they will play in your company.

Organizational Chart

Adding an organizational chart in this section of your business plan is not necessary, you can do it in your business plan’s appendix.

If you are exploring funding options, it is not uncommon to get asked for your organizational chart. The function of an organizational chart goes beyond raising money, you can also use it as a useful planning tool for your business.

An organizational chart can help you identify how best to structure your management team for maximum productivity and point you towards key roles you need to fill in the future.

You can use the organizational chart to show your company’s internal management structure such as the roles and responsibilities of your management team, and relationships that exist between them.

5. Describe Your Product and Service Offering

In your business plan, you have to describe what you sell or the service you plan to offer. It is the next step after defining your business and management structure. The products and services section is where you sell the benefits of your business.

Here you have to explain how your product or service will benefit your customers and describe your product lifecycle. It is also the section where you write down your plans for intellectual property like patent filings and copyrighting.

The research and development that you are undertaking for your product or service need to be explained in detail in this section. However, do not get too technical, sell the general idea and its benefits.

If you have any diagrams or intricate designs of your product or service, do not include them in the products and services section. Instead, leave them for the addendum page. Also, if you are leaving out diagrams or designs for the addendum, ensure you add this phrase “For more detail, visit the addendum Page #.”

Your product and service section in your business plan should include the following:

• A detailed explanation that clearly shows how your product or service works.
• The pricing model for your product or service.
• Your business’ sales and distribution strategy.
• The ideal customers that want your product or service.
• The benefits of your products and services.
• Reason(s) why your product or service is a better alternative to what your competitors are currently offering in the market.
• Plans for filling the orders you receive
• If you have current or pending patents, copyrights, and trademarks for your product or service, you can also discuss them in this section.

What to Focus On When Describing the Benefits, Lifecycle, and Production Process of Your Products or Services

In the products and services section, you have to distill the benefits, lifecycle, and production process of your products and services.

When describing the benefits of your products or services, here are some key factors to focus on.

• Unique features
• Translating the unique features into benefits
• The emotional, psychological, and practical payoffs to attract customers
• Intellectual property rights or any patents

When describing the product life cycle of your products or services, here are some key factors to focus on.

• Upsells, cross-sells, and down-sells
• Time between purchases
• Plans for research and development.

When describing the production process for your products or services, you need to think about the following:

• The creation of new or existing products and services.
• The sources for the raw materials or components you need for production.
• Assembling the products
• Maintaining quality control
• Supply-chain logistics (receiving the raw materials and delivering the finished products)
• The day-to-day management of the production processes, bookkeeping, and inventory.

Tips for Writing the Products or Services Section of Your Business Plan

1. Avoid Technical Descriptions and Industry Buzzwords

The products and services section of your business plan should clearly describe the products and services that your company provides. However, it is not a section to include technical jargons that anyone outside your industry will not understand.

A good practice is to remove highly detailed or technical descriptions in favor of simple terms. Industry buzzwords are not necessary, if there are simpler terms you can use, then use them. If you plan to use your business plan to source funds, making the product or service section so technical will do you no favors.

2. Describe How Your Products or Services Differ from Your Competitors

When potential investors look at your business plan, they want to know how the products and services you are offering differ from that of your competition. Differentiating your products or services from your competition in a way that makes your solution more attractive is critical.

If you are going the innovative path and there is no market currently for your product or service, you need to describe in this section why the market needs your product or service.

For example, overnight delivery was a niche business that only a few companies were participating in. Federal Express (FedEx) had to show in its business plan that there was a large opportunity for that service and they justified why the market needed that service.

3. Long or Short Products or Services Section

Should your products or services section be short? Does the long products or services section attract more investors?

There are no straightforward answers to these questions. Whether your products or services section should be long or relatively short depends on the nature of your business.

If your business is product-focused, then automatically you need to use more space to describe the details of your products. However, if the product your business sells is a commodity item that relies on competitive pricing or other pricing strategies, you do not have to use up so much space to provide significant details about the product.

Likewise, if you are selling a commodity that is available in numerous outlets, then you do not have to spend time on writing a long products or services section.

The key to the success of your business is most likely the effectiveness of your marketing strategies compared to your competitors. Use more space to address that section.

If you are creating a new product or service that the market does not know about, your products or services section can be lengthy. The reason why is because you need to explain everything about the product or service such as the nature of the product, its use case, and values.

A short products or services section for an innovative product or service will not give the readers enough information to properly evaluate your business.

4. Describe Your Relationships with Vendors or Suppliers

Your business will rely on vendors or suppliers to supply raw materials or the components needed to make your products. In your products and services section, describe your relationships with your vendors and suppliers fully.

Avoid the mistake of relying on only one supplier or vendor. If that supplier or vendor fails to supply or goes out of business, you can easily face supply problems and struggle to meet your demands. Plan to set up multiple vendor or supplier relationships for better business stability.

5. Your Primary Goal Is to Convince Your Readers

The primary goal of your business plan is to convince your readers that your business is viable and to create a guide for your business to follow. It applies to the products and services section.

When drafting this section, think like the reader. See your reader as someone who has no idea about your products and services. You are using the products and services section to provide the needed information to help your reader understand your products and services. As a result, you have to be clear and to the point.

While you want to educate your readers about your products or services, you also do not want to bore them with lots of technical details. Show your products and services and not your fancy choice of words.

Your products and services section should provide the answer to the “what” question for your business. You and your management team may run the business, but it is your products and services that are the lifeblood of the business.

Key Questions to Answer When Writing your Products and Services Section

Answering these questions can help you write your products and services section quickly and in a way that will appeal to your readers.

• Are your products existing on the market or are they still in the development stage?
• What is your timeline for adding new products and services to the market?
• What are the positives that make your products and services different from your competitors?
• Do your products and services have any competitive advantage that your competitors’ products and services do not currently have?
• Do your products or services have any competitive disadvantages that you need to overcome to compete with your competitors? If your answer is yes, state how you plan to overcome them,
• How much does it cost to produce your products or services? How much do you plan to sell it for?
• What is the price for your products and services compared to your competitors? Is pricing an issue?
• What are your operating costs and will it be low enough for you to compete with your competitors and still take home a reasonable profit margin?
• What is your plan for acquiring your products? Are you involved in the production of your products or services?
• Are you the manufacturer and produce all the components you need to create your products? Do you assemble your products by using components supplied by other manufacturers? Do you purchase your products directly from suppliers or wholesalers?
• Do you have a steady supply of products that you need to start your business? (If your business is yet to kick-off)
• How do you plan to distribute your products or services to the market?

You can also hint at the marketing or promotion plans you have for your products or services such as how you plan to build awareness or retain customers. The next section is where you can go fully into details about your business’s marketing and sales plan.

6. Show and Explain Your Marketing and Sales Plan

Providing great products and services is wonderful, but it means nothing if you do not have a marketing and sales plan to inform your customers about them. Your marketing and sales plan is critical to the success of your business.

The sales and marketing section is where you show and offer a detailed explanation of your marketing and sales plan and how you plan to execute it. It covers your pricing plan, proposed advertising and promotion activities, activities and partnerships you need to make your business a success, and the benefits of your products and services.

There are several ways you can approach your marketing and sales strategy. Ideally, your marketing and sales strategy has to fit the unique needs of your business.

In this section, you describe how the plans your business has for attracting and retaining customers, and the exact process for making a sale happen. It is essential to thoroughly describe your complete marketing and sales plans because you are still going to reference this section when you are making financial projections for your business.

Outline Your Business’ Unique Selling Proposition (USP)

The sales and marketing section is where you outline your business’s unique selling proposition (USP). When you are developing your unique selling proposition, think about the strongest reasons why people should buy from you over your competition. That reason(s) is most likely a good fit to serve as your unique selling proposition (USP).

Target Market and Target Audience

Plans on how to get your products or services to your target market and how to get your target audience to buy them go into this section. You also highlight the strengths of your business here, particularly what sets them apart from your competition.

Before you start writing your marketing and sales plan, you need to have properly defined your target audience and fleshed out your buyer persona. If you do not first understand the individual you are marketing to, your marketing and sales plan will lack any substance and easily fall.

Creating a Smart Marketing and Sales Plan

Marketing your products and services is an investment that requires you to spend money. Like any other investment, you have to generate a good return on investment (ROI) to justify using that marketing and sales plan. Good marketing and sales plans bring in high sales and profits to your company.

Avoid spending money on unproductive marketing channels. Do your research and find out the best marketing and sales plan that works best for your company.

Your marketing and sales plan can be broken into different parts: your positioning statement, pricing, promotion, packaging, advertising, public relations, content marketing, social media, and strategic alliances.

Your Positioning Statement

Your positioning statement is the first part of your marketing and sales plan. It refers to the way you present your company to your customers.

Are you the premium solution, the low-price solution, or are you the intermediary between the two extremes in the market? What do you offer that your competitors do not that can give you leverage in the market?

Before you start writing your positioning statement, you need to spend some time evaluating the current market conditions. Here are some questions that can help you to evaluate the market

• What are the unique features or benefits that you offer that your competitors lack?
• What are your customers’ primary needs and wants?
• Why should a customer choose you over your competition? How do you plan to differentiate yourself from the competition?
• How does your company’s solution compare with other solutions in the market?

After answering these questions, then you can start writing your positioning statement. Your positioning statement does not have to be in-depth or too long.

All you need to explain with your positioning statement are two focus areas. The first is the position of your company within the competitive landscape. The other focus area is the core value proposition that sets your company apart from other alternatives that your ideal customer might consider.

Here is a simple template you can use to develop a positioning statement.

For [description of target market] who [need of target market], [product or service] [how it meets the need]. Unlike [top competition], it [most essential distinguishing feature].

For example, let’s create the positioning statement for fictional accounting software and QuickBooks alternative , TBooks.

“For small business owners who need accounting services, TBooks is an accounting software that helps small businesses handle their small business bookkeeping basics quickly and easily. Unlike Wave, TBooks gives small businesses access to live sessions with top accountants.”

You can edit this positioning statement sample and fill it with your business details.

After writing your positioning statement, the next step is the pricing of your offerings. The overall positioning strategy you set in your positioning statement will often determine how you price your products or services.

Pricing is a powerful tool that sends a strong message to your customers. Failure to get your pricing strategy right can make or mar your business. If you are targeting a low-income audience, setting a premium price can result in low sales.

You can use pricing to communicate your positioning to your customers. For example, if you are offering a product at a premium price, you are sending a message to your customers that the product belongs to the premium category.

Basic Rules to Follow When Pricing Your Offering

Setting a price for your offering involves more than just putting a price tag on it. Deciding on the right pricing for your offering requires following some basic rules. They include covering your costs, primary and secondary profit center pricing, and matching the market rate.

• Covering Your Costs: The price you set for your products or service should be more than it costs you to produce and deliver them. Every business has the same goal, to make a profit. Depending on the strategy you want to use, there are exceptions to this rule. However, the vast majority of businesses follow this rule.
• Primary and Secondary Profit Center Pricing: When a company sets its price above the cost of production, it is making that product its primary profit center. A company can also decide not to make its initial price its primary profit center by selling below or at even with its production cost. It rather depends on the support product or even maintenance that is associated with the initial purchase to make its profit. The initial price thus became its secondary profit center.
• Matching the Market Rate: A good rule to follow when pricing your products or services is to match your pricing with consumer demand and expectations. If you price your products or services beyond the price your customer perceives as the ideal price range, you may end up with no customers. Pricing your products too low below what your customer perceives as the ideal price range may lead to them undervaluing your offering.

Pricing Strategy

Your pricing strategy influences the price of your offering. There are several pricing strategies available for you to choose from when examining the right pricing strategy for your business. They include cost-plus pricing, market-based pricing, value pricing, and more.

• Cost-plus Pricing: This strategy is one of the simplest and oldest pricing strategies. Here you consider the cost of producing a unit of your product and then add a profit to it to arrive at your market price. It is an effective pricing strategy for manufacturers because it helps them cover their initial costs. Another name for the cost-plus pricing strategy is the markup pricing strategy.
• Market-based Pricing: This pricing strategy analyses the market including competitors’ pricing and then sets a price based on what the market is expecting. With this pricing strategy, you can either set your price at the low-end or high-end of the market.
• Value Pricing: This pricing strategy involves setting a price based on the value you are providing to your customer. When adopting a value-based pricing strategy, you have to set a price that your customers are willing to pay. Service-based businesses such as small business insurance providers , luxury goods sellers, and the fashion industry use this pricing strategy.

After carefully sorting out your positioning statement and pricing, the next item to look at is your promotional strategy. Your promotional strategy explains how you plan on communicating with your customers and prospects.

As a business, you must measure all your costs, including the cost of your promotions. You also want to measure how much sales your promotions bring for your business to determine its usefulness. Promotional strategies or programs that do not lead to profit need to be removed.

There are different types of promotional strategies you can adopt for your business, they include advertising, public relations, and content marketing.

Advertising

Your business plan should include your advertising plan which can be found in the marketing and sales plan section. You need to include an overview of your advertising plans such as the areas you plan to spend money on to advertise your business and offers.

Ensure that you make it clear in this section if your business will be advertising online or using the more traditional offline media, or the combination of both online and offline media. You can also include the advertising medium you want to use to raise awareness about your business and offers.

Some common online advertising mediums you can use include social media ads, landing pages, sales pages, SEO, Pay-Per-Click, emails, Google Ads, and others. Some common traditional and offline advertising mediums include word of mouth, radios, direct mail, televisions, flyers, billboards, posters, and others.

A key component of your advertising strategy is how you plan to measure the effectiveness and success of your advertising campaign. There is no point in sticking with an advertising plan or medium that does not produce results for your business in the long run.

Public Relations

A great way to reach your customers is to get the media to cover your business or product. Publicity, especially good ones, should be a part of your marketing and sales plan. In this section, show your plans for getting prominent reviews of your product from reputable publications and sources.

Your business needs that exposure to grow. If public relations is a crucial part of your promotional strategy, provide details about your public relations plan here.

Content Marketing

Content marketing is a popular promotional strategy used by businesses to inform and attract their customers. It is about teaching and educating your prospects on various topics of interest in your niche, it does not just involve informing them about the benefits and features of the products and services you have,

Businesses publish content usually for free where they provide useful information, tips, and advice so that their target market can be made aware of the importance of their products and services. Content marketing strategies seek to nurture prospects into buyers over time by simply providing value.

Your company can create a blog where it will be publishing content for its target market. You will need to use the best website builder such as Wix and Squarespace and the best web hosting services such as Bluehost, Hostinger, and other Bluehost alternatives to create a functional blog or website.

If content marketing is a crucial part of your promotional strategy (as it should be), detail your plans under promotions.

Including high-quality images of the packaging of your product in your business plan is a lovely idea. You can add the images of the packaging of that product in the marketing and sales plan section. If you are not selling a product, then you do not need to include any worry about the physical packaging of your product.

When organizing the packaging section of your business plan, you can answer the following questions to make maximum use of this section.

• Is your choice of packaging consistent with your positioning strategy?
• What key value proposition does your packaging communicate? (It should reflect the key value proposition of your business)
• How does your packaging compare to that of your competitors?

Social Media

Your 21st-century business needs to have a good social media presence. Not having one is leaving out opportunities for growth and reaching out to your prospect.

You do not have to join the thousands of social media platforms out there. What you need to do is join the ones that your customers are active on and be active there.

Businesses use social media to provide information about their products such as promotions, discounts, the benefits of their products, and content on their blogs.

Social media is also a platform for engaging with your customers and getting feedback about your products or services. Make no mistake, more and more of your prospects are using social media channels to find more information about companies.

You need to consider the social media channels you want to prioritize your business (prioritize the ones your customers are active in) and your branding plans in this section.

Strategic Alliances

If your company plans to work closely with other companies as part of your sales and marketing plan, include it in this section. Prove details about those partnerships in your business plan if you have already established them.

Strategic alliances can be beneficial for all parties involved including your company. Working closely with another company in the form of a partnership can provide access to a different target market segment for your company.

The company you are partnering with may also gain access to your target market or simply offer a new product or service (that of your company) to its customers.

Mutually beneficial partnerships can cover the weaknesses of one company with the strength of another. You should consider strategic alliances with companies that sell complimentary products to yours. For example, if you provide printers, you can partner with a company that produces ink since the customers that buy printers from you will also need inks for printing.

Steps Involved in Creating a Marketing and Sales Plan

1. Focus on Your Target Market

Identify who your customers are, the market you want to target. Then determine the best ways to get your products or services to your potential customers.

2. Evaluate Your Competition

One of the goals of having a marketing plan is to distinguish yourself from your competition. You cannot stand out from them without first knowing them in and out.

You can know your competitors by gathering information about their products, pricing, service, and advertising campaigns.

These questions can help you know your competition.

• What makes your competition successful?
• What are their weaknesses?
• What are customers saying about your competition?

3. Consider Your Brand

Customers' perception of your brand has a strong impact on your sales. Your marketing and sales plan should seek to bolster the image of your brand. Before you start marketing your business, think about the message you want to pass across about your business and your products and services.

4. Focus on Benefits

The majority of your customers do not view your product in terms of features, what they want to know is the benefits and solutions your product offers. Think about the problems your product solves and the benefits it delivers, and use it to create the right sales and marketing message.

Your marketing plan should focus on what you want your customer to get instead of what you provide. Identify those benefits in your marketing and sales plan.

5. Focus on Differentiation

Your marketing and sales plan should look for a unique angle they can take that differentiates your business from the competition, even if the products offered are similar. Some good areas of differentiation you can use are your benefits, pricing, and features.

Key Questions to Answer When Writing Your Marketing and Sales Plan

• What is your company’s budget for sales and marketing campaigns?
• What key metrics will you use to determine if your marketing plans are successful?
• What are your alternatives if your initial marketing efforts do not succeed?
• Who are the sales representatives you need to promote your products or services?
• What are the marketing and sales channels you plan to use? How do you plan to get your products in front of your ideal customers?
• Where will you sell your products?

You may want to include samples of marketing materials you plan to use such as print ads, website descriptions, and social media ads. While it is not compulsory to include these samples, it can help you better communicate your marketing and sales plan and objectives.

The purpose of the marketing and sales section is to answer this question “How will you reach your customers?” If you cannot convincingly provide an answer to this question, you need to rework your marketing and sales section.

7. Clearly Show Your Funding Request

If you are writing your business plan to ask for funding from investors or financial institutions, the funding request section is where you will outline your funding requirements. The funding request section should answer the question ‘How much money will your business need in the near future (3 to 5 years)?’

A good funding request section will clearly outline and explain the amount of funding your business needs over the next five years. You need to know the amount of money your business needs to make an accurate funding request.

Also, when writing your funding request, provide details of how the funds will be used over the period. Specify if you want to use the funds to buy raw materials or machinery, pay salaries, pay for advertisements, and cover specific bills such as rent and electricity.

In addition to explaining what you want to use the funds requested for, you need to clearly state the projected return on investment (ROI) . Investors and creditors want to know if your business can generate profit for them if they put funds into it.

Ensure you do not inflate the figures and stay as realistic as possible. Investors and financial institutions you are seeking funds from will do their research before investing money in your business.

If you are not sure of an exact number to request from, you can use some range of numbers as rough estimates. Add a best-case scenario and a work-case scenario to your funding request. Also, include a description of your strategic future financial plans such as selling your business or paying off debts.

Funding Request: Debt or Equity?

When making your funding request, specify the type of funding you want. Do you want debt or equity? Draw out the terms that will be applicable for the funding, and the length of time the funding request will cover.

Case for Equity

If your new business has not yet started generating profits, you are most likely preparing to sell equity in your business to raise capital at the early stage. Equity here refers to ownership. In this case, you are selling a portion of your company to raise capital.

Although this method of raising capital for your business does not put your business in debt, keep in mind that an equity owner may expect to play a key role in company decisions even if he does not hold a major stake in the company.

Most equity sales for startups are usually private transactions . If you are making a funding request by offering equity in exchange for funding, let the investor know that they will be paid a dividend (a share of the company’s profit). Also, let the investor know the process for selling their equity in your business.

Case for Debt

You may decide not to offer equity in exchange for funds, instead, you make a funding request with the promise to pay back the money borrowed at the agreed time frame.

When making a funding request with an agreement to pay back, note that you will have to repay your creditors both the principal amount borrowed and the interest on it. Financial institutions offer this type of funding for businesses.

Large companies combine both equity and debt in their capital structure. When drafting your business plan, decide if you want to offer both or one over the other.

Before you sell equity in exchange for funding in your business, consider if you are willing to accept not being in total control of your business. Also, before you seek loans in your funding request section, ensure that the terms of repayment are favorable.

You should set a clear timeline in your funding request so that potential investors and creditors can know what you are expecting. Some investors and creditors may agree to your funding request and then delay payment for longer than 30 days, meanwhile, your business needs an immediate cash injection to operate efficiently.

Additional Tips for Writing the Funding Request Section of your Business Plan

The funding request section is not necessary for every business, it is only needed by businesses who plan to use their business plan to secure funding.

If you are adding the funding request section to your business plan, provide an itemized summary of how you plan to use the funds requested. Hiring a lawyer, accountant, or other professionals may be necessary for the proper development of this section.

You should also gather and use financial statements that add credibility and support to your funding requests. Ensure that the financial statements you use should include your projected financial data such as projected cash flows, forecast statements, and expenditure budgets.

If you are an existing business, include all historical financial statements such as cash flow statements, balance sheets and income statements .

Provide monthly and quarterly financial statements for a year. If your business has records that date back beyond the one-year mark, add the yearly statements of those years. These documents are for the appendix section of your business plan.

8. Detail Your Financial Plan, Metrics, and Projections

If you used the funding request section in your business plan, supplement it with a financial plan, metrics, and projections. This section paints a picture of the past performance of your business and then goes ahead to make an informed projection about its future.

The goal of this section is to convince readers that your business is going to be a financial success. It outlines your business plan to generate enough profit to repay the loan (with interest if applicable) and to generate a decent return on investment for investors.

If you have an existing business already in operation, use this section to demonstrate stability through finance. This section should include your cash flow statements, balance sheets, and income statements covering the last three to five years. If your business has some acceptable collateral that you can use to acquire loans, list it in the financial plan, metrics, and projection section.

Apart from current financial statements, this section should also contain a prospective financial outlook that spans the next five years. Include forecasted income statements, cash flow statements, balance sheets, and capital expenditure budget.

If your business is new and is not yet generating profit, use clear and realistic projections to show the potentials of your business.

When drafting this section, research industry norms and the performance of comparable businesses. Your financial projections should cover at least five years. State the logic behind your financial projections. Remember you can always make adjustments to this section as the variables change.

The financial plan, metrics, and projection section create a baseline which your business can either exceed or fail to reach. If your business fails to reach your projections in this section, you need to understand why it failed.

Investors and loan managers spend a lot of time going through the financial plan, metrics, and projection section compared to other parts of the business plan. Ensure you spend time creating credible financial analyses for your business in this section.

Many entrepreneurs find this section daunting to write. You do not need a business degree to create a solid financial forecast for your business. Business finances, especially for startups, are not as complicated as they seem. There are several online tools and templates that make writing this section so much easier.

Use Graphs and Charts

The financial plan, metrics, and projection section is a great place to use graphs and charts to tell the financial story of your business. Charts and images make it easier to communicate your finances.

Accuracy in this section is key, ensure you carefully analyze your past financial statements properly before making financial projects.

Address the Risk Factors and Show Realistic Financial Projections

Keep your financial plan, metrics, and projection realistic. It is okay to be optimistic in your financial projection, however, you have to justify it.

You should also address the various risk factors associated with your business in this section. Investors want to know the potential risks involved, show them. You should also show your plans for mitigating those risks.

What You Should In The Financial Plan, Metrics, and Projection Section of Your Business Plan

The financial plan, metrics, and projection section of your business plan should have monthly sales and revenue forecasts for the first year. It should also include annual projections that cover 3 to 5 years.

A three-year projection is a basic requirement to have in your business plan. However, some investors may request a five-year forecast.

Your business plan should include the following financial statements: sales forecast, personnel plan, income statement, income statement, cash flow statement, balance sheet, and an exit strategy.

1. Sales Forecast

Sales forecast refers to your projections about the number of sales your business is going to record over the next few years. It is typically broken into several rows, with each row assigned to a core product or service that your business is offering.

One common mistake people make in their business plan is to break down the sales forecast section into long details. A sales forecast should forecast the high-level details.

For example, if you are forecasting sales for a payroll software provider, you could break down your forecast into target market segments or subscription categories.

Your sales forecast section should also have a corresponding row for each sales row to cover the direct cost or Cost of Goods Sold (COGS). The objective of these rows is to show the expenses that your business incurs in making and delivering your product or service.

Note that your Cost of Goods Sold (COGS) should only cover those direct costs incurred when making your products. Other indirect expenses such as insurance, salaries, payroll tax, and rent should not be included.

For example, the Cost of Goods Sold (COGS) for a restaurant is the cost of ingredients while for a consulting company it will be the cost of paper and other presentation materials.

2. Personnel Plan

The personnel plan section is where you provide details about the payment plan for your employees. For a small business, you can easily list every position in your company and how much you plan to pay in the personnel plan.

However, for larger businesses, you have to break the personnel plan into functional groups such as sales and marketing.

The personnel plan will also include the cost of an employee beyond salary, commonly referred to as the employee burden. These costs include insurance, payroll taxes , and other essential costs incurred monthly as a result of having employees on your payroll.

3. Income Statement

The income statement section shows if your business is making a profit or taking a loss. Another name for the income statement is the profit and loss (P&L). It takes data from your sales forecast and personnel plan and adds other ongoing expenses you incur while running your business.

Every business plan should have an income statement. It subtracts your business expenses from its earnings to show if your business is generating profit or incurring losses.

The income statement has the following items: sales, Cost of Goods Sold (COGS), gross margin, operating expenses, total operating expenses, operating income , total expenses, and net profit.

• Sales refer to the revenue your business generates from selling its products or services. Other names for sales are income or revenue.
• Cost of Goods Sold (COGS) refers to the total cost of selling your products. Other names for COGS are direct costs or cost of sales. Manufacturing businesses use the Costs of Goods Manufactured (COGM) .
• Gross Margin is the figure you get when you subtract your COGS from your sales. In your income statement, you can express it as a percentage of total sales (Gross margin / Sales = Gross Margin Percent).
• Operating Expenses refer to all the expenses you incur from running your business. It exempts the COGS because it stands alone as a core part of your income statement. You also have to exclude taxes, depreciation, and amortization. Your operating expenses include salaries, marketing expenses, research and development (R&D) expenses, and other expenses.
• Total Operating Expenses refers to the sum of all your operating expenses including those exemptions named above under operating expenses.
• Operating Income refers to earnings before interest, taxes, depreciation, and amortization. It is simply known as the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization). Calculating your operating income is simple, all you need to do is to subtract your COGS and total operating expenses from your sales.
• Total Expenses refer to the sum of your operating expenses and your business’ interest, taxes, depreciation, and amortization.
• Net profit shows whether your business has made a profit or taken a loss during a given timeframe.

4. Cash Flow Statement

The cash flow statement tracks the money you have in the bank at any given point. It is often confused with the income statement or the profit and loss statement. They are both different types of financial statements. The income statement calculates your profits and losses while the cash flow statement shows you how much you have in the bank.

5. Balance Sheet

The balance sheet is a financial statement that provides an overview of the financial health of your business. It contains information about the assets and liabilities of your company, and owner’s or shareholders’ equity.

You can get the net worth of your company by subtracting your company’s liabilities from its assets.

6. Exit Strategy

The exit strategy refers to a probable plan for selling your business either to the public in an IPO or to another company. It is the last thing you include in the financial plan, metrics, and projection section.

You can choose to omit the exit strategy from your business plan if you plan to maintain full ownership of your business and do not plan on seeking angel investment or virtual capitalist (VC) funding.

Investors may want to know what your exit plan is. They invest in your business to get a good return on investment.

Your exit strategy does not have to include long and boring details. Ensure you identify some interested parties who may be interested in buying the company if it becomes a success.

Key Questions to Answer with Your Financial Plan, Metrics, and Projection

Your financial plan, metrics, and projection section helps investors, creditors, or your internal managers to understand what your expenses are, the amount of cash you need, and what it takes to make your company profitable. It also shows what you will be doing with any funding.

You do not need to show actual financial data if you do not have one. Adding forecasts and projections to your financial statements is added proof that your strategy is feasible and shows investors you have planned properly.

Here are some key questions to answer to help you develop this section.

• What is your sales forecast for the next year?
• When will your company achieve a positive cash flow?
• What are the core expenses you need to operate?
• How much money do you need upfront to operate or grow your company?
• How will you use the loans or investments?

9. Add an Appendix to Your Business Plan

Adding an appendix to your business plan is optional. It is a useful place to put any charts, tables, legal notes, definitions, permits, résumés, and other critical information that do not fit into other sections of your business plan.

The appendix section is where you would want to include details of a patent or patent-pending if you have one. You can always add illustrations or images of your products here. It is the last section of your business plan.

When writing your business plan, there are details you cut short or remove to prevent the entire section from becoming too lengthy. There are also details you want to include in the business plan but are not a good fit for any of the previous sections. You can add that additional information to the appendix section.

Businesses also use the appendix section to include supporting documents or other materials specially requested by investors or lenders.

You can include just about any information that supports the assumptions and statements you made in the business plan under the appendix. It is the one place in the business plan where unrelated data and information can coexist amicably.

If your appendix section is lengthy, try organizing it by adding a table of contents at the beginning of the appendix section. It is also advisable to group similar information to make it easier for the reader to access them.

A well-organized appendix section makes it easier to share your information clearly and concisely. Add footnotes throughout the rest of the business plan or make references in the plan to the documents in the appendix.

The appendix section is usually only necessary if you are seeking funding from investors or lenders, or hoping to attract partners.

People reading business plans do not want to spend time going through a heap of backup information, numbers, and charts. Keep these documents or information in the Appendix section in case the reader wants to dig deeper.

Common Items to Include in the Appendix Section of Your Business Plan

The appendix section includes documents that supplement or support the information or claims given in other sections of the business plans. Common items you can include in the appendix section include:

• Additional data about the process of manufacturing or creation
• Additional description of products or services such as product schematics
• Additional financial documents or projections
• Articles of incorporation and status
• Backup for market research or competitive analysis
• Bank statements
• Business registries
• Client testimonials (if your business is already running)
• Copies of insurances
• Credit histories (personal or/and business)
• Deeds and permits
• Equipment leases
• Examples of marketing and advertising collateral
• Industry associations and memberships
• Images of product
• Intellectual property
• Key customer contracts
• Legal documents and other contracts
• Letters of reference
• Links to references
• Market research data
• Organizational charts
• Photographs of potential facilities
• Professional licenses pertaining to your legal structure or type of business
• Purchase orders
• Resumes of the founder(s) and key managers
• State and federal identification numbers or codes
• Trademarks or patents’ registrations

Avoid using the appendix section as a place to dump any document or information you feel like adding. Only add documents or information that you support or increase the credibility of your business plan.

Tips and Strategies for Writing a Convincing Business Plan

To achieve a perfect business plan, you need to consider some key tips and strategies. These tips will raise the efficiency of your business plan above average.

1. Know Your Audience

When writing a business plan, you need to know your audience . Business owners write business plans for different reasons. Your business plan has to be specific. For example, you can write business plans to potential investors, banks, and even fellow board members of the company.

The audience you are writing to determines the structure of the business plan. As a business owner, you have to know your audience. Not everyone will be your audience. Knowing your audience will help you to narrow the scope of your business plan.

Consider what your audience wants to see in your projects, the likely questions they might ask, and what interests them.

• A business plan used to address a company's board members will center on its employment schemes, internal affairs, projects, stakeholders, etc.
• A business plan for financial institutions will talk about the size of your market and the chances for you to pay back any loans you demand.
• A business plan for investors will show proof that you can return the investment capital within a specific time. In addition, it discusses your financial projections, tractions, and market size.

2. Get Inspiration from People

Writing a business plan from scratch as an entrepreneur can be daunting. That is why you need the right inspiration to push you to write one. You can gain inspiration from the successful business plans of other businesses. Look at their business plans, the style they use, the structure of the project, etc.

To make your business plan easier to create, search companies related to your business to get an exact copy of what you need to create an effective business plan. You can also make references while citing examples in your business plans.

When drafting your business plan, get as much help from others as you possibly can. By getting inspiration from people, you can create something better than what they have.

3. Avoid Being Over Optimistic

Many business owners make use of strong adjectives to qualify their content. One of the big mistakes entrepreneurs make when preparing a business plan is promising too much.

The use of superlatives and over-optimistic claims can prepare the audience for more than you can offer. In the end, you disappoint the confidence they have in you.

In most cases, the best option is to be realistic with your claims and statistics. Most of the investors can sense a bit of incompetency from the overuse of superlatives. As a new entrepreneur, do not be tempted to over-promise to get the interests of investors.

The concept of entrepreneurship centers on risks, nothing is certain when you make future analyses. What separates the best is the ability to do careful research and work towards achieving that, not promising more than you can achieve.

To make an excellent first impression as an entrepreneur, replace superlatives with compelling data-driven content. In this way, you are more specific than someone promising a huge ROI from an investment.

4. Keep it Simple and Short

When writing business plans, ensure you keep them simple throughout. Irrespective of the purpose of the business plan, your goal is to convince the audience.

One way to achieve this goal is to make them understand your proposal. Therefore, it would be best if you avoid the use of complex grammar to express yourself. It would be a huge turn-off if the people you want to convince are not familiar with your use of words.

Another thing to note is the length of your business plan. It would be best if you made it as brief as possible.

You hardly see investors or agencies that read through an extremely long document. In that case, if your first few pages can’t convince them, then you have lost it. The more pages you write, the higher the chances of you derailing from the essential contents.

To ensure your business plan has a high conversion rate, you need to dispose of every unnecessary information. For example, if you have a strategy that you are not sure of, it would be best to leave it out of the plan.

5. Make an Outline and Follow Through

A perfect business plan must have touched every part needed to convince the audience. Business owners get easily tempted to concentrate more on their products than on other sections. Doing this can be detrimental to the efficiency of the business plan.

For example, imagine you talking about a product but omitting or providing very little information about the target audience. You will leave your clients confused.

To ensure that your business plan communicates your full business model to readers, you have to input all the necessary information in it. One of the best ways to achieve this is to design a structure and stick to it.

This structure is what guides you throughout the writing. To make your work easier, you can assign an estimated word count or page limit to every section to avoid making it too bulky for easy reading. As a guide, the necessary things your business plan must contain are:

• Table of contents
• Introduction
• Product or service description
• Target audience
• Market size
• Competition analysis
• Financial projections

Some specific businesses can include some other essential sections, but these are the key sections that must be in every business plan.

6. Ask a Professional to Proofread

When writing a business plan, you must tie all loose ends to get a perfect result. When you are done with writing, call a professional to go through the document for you. You are bound to make mistakes, and the way to correct them is to get external help.

You should get a professional in your field who can relate to every section of your business plan. It would be easier for the professional to notice the inner flaws in the document than an editor with no knowledge of your business.

In addition to getting a professional to proofread, get an editor to proofread and edit your document. The editor will help you identify grammatical errors, spelling mistakes, and inappropriate writing styles.

Writing a business plan can be daunting, but you can surmount that obstacle and get the best out of it with these tips.

Business Plan Examples and Templates That’ll Save You Tons of Time

1. hubspot's one-page business plan.

The one-page business plan template by HubSpot is the perfect guide for businesses of any size, irrespective of their business strategy. Although the template is condensed into a page, your final business plan should not be a page long! The template is designed to ask helpful questions that can help you develop your business plan.

Hubspot’s one-page business plan template is divided into nine fields:

• Business opportunity
• Company description
• Industry analysis
• Target market
• Implementation timeline
• Marketing plan
• Financial summary
• Funding required

2. Bplan’s Free Business Plan Template

Bplans' free business plan template is investor-approved. It is a rich template used by prestigious educational institutions such as Babson College and Princeton University to teach entrepreneurs how to create a business plan.

The template has six sections: the executive summary, opportunity, execution, company, financial plan, and appendix. There is a step-by-step guide for writing every little detail in the business plan. Follow the instructions each step of the way and you will create a business plan that impresses investors or lenders easily.

3. HubSpot's Downloadable Business Plan Template

HubSpot’s downloadable business plan template is a more comprehensive option compared to the one-page business template by HubSpot. This free and downloadable business plan template is designed for entrepreneurs.

The template is a comprehensive guide and checklist for business owners just starting their businesses. It tells you everything you need to fill in each section of the business plan and how to do it.

There are nine sections in this business plan template: an executive summary, company and business description, product and services line, market analysis, marketing plan, sales plan, legal notes, financial considerations, and appendix.

4. Business Plan by My Own Business Institute

My Own Business Institute (MOBI) which is a part of Santa Clara University's Center for Innovation and Entrepreneurship offers a free business plan template. You can either copy the free business template from the link provided above or download it as a Word document.

The comprehensive template consists of a whopping 15 sections.

• The Business Profile
• The Vision and the People
• Home-Based Business and Freelance Business Opportunities
• Organization
• Licenses and Permits
• Business Insurance
• Communication Tools
• Acquisitions
• Location and Leasing
• Accounting and Cash Flow
• Opening and Marketing
• Managing Employees
• Expanding and Handling Problems

There are lots of helpful tips on how to fill each section in the free business plan template by MOBI.

5. Score's Business Plan Template for Startups

Score is an American nonprofit organization that helps entrepreneurs build successful companies. This business plan template for startups by Score is available for free download. The business plan template asks a whooping 150 generic questions that help entrepreneurs from different fields to set up the perfect business plan.

The business plan template for startups contains clear instructions and worksheets, all you have to do is answer the questions and fill the worksheets.

There are nine sections in the business plan template: executive summary, company description, products and services, marketing plan, operational plan, management and organization, startup expenses and capitalization, financial plan, and appendices.

The ‘refining the plan’ resource contains instructions that help you modify your business plan to suit your specific needs, industry, and target audience. After you have completed Score’s business plan template, you can work with a SCORE mentor for expert advice in business planning.

6. Minimalist Architecture Business Plan Template by Venngage

The minimalist architecture business plan template is a simple template by Venngage that you can customize to suit your business needs .

There are five sections in the template: an executive summary, statement of problem, approach and methodology, qualifications, and schedule and benchmark. The business plan template has instructions that guide users on what to fill in each section.

7. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers two free business plan templates, filled with practical real-life examples that you can model to create your business plan. Both free business plan templates are written by fictional business owners: Rebecca who owns a consulting firm, and Andrew who owns a toy company.

There are five sections in the two SBA’s free business plan templates.

• Executive Summary
• Company Description
• Service Line
• Marketing and Sales

8. The $100 Startup's One-Page Business Plan

The one-page business plan by the $100 startup is a simple business plan template for entrepreneurs who do not want to create a long and complicated plan . You can include more details in the appendices for funders who want more information beyond what you can put in the one-page business plan.

There are five sections in the one-page business plan such as overview, ka-ching, hustling, success, and obstacles or challenges or open questions. You can answer all the questions using one or two sentences.

9. PandaDoc’s Free Business Plan Template

The free business plan template by PandaDoc is a comprehensive 15-page document that describes the information you should include in every section.

There are 11 sections in PandaDoc’s free business plan template.

• Executive summary
• Business description
• Products and services
• Operations plan
• Management organization
• Financial plan
• Conclusion / Call to action
• Confidentiality statement

You have to sign up for its 14-day free trial to access the template. You will find different business plan templates on PandaDoc once you sign up (including templates for general businesses and specific businesses such as bakeries, startups, restaurants, salons, hotels, and coffee shops)

PandaDoc allows you to customize its business plan templates to fit the needs of your business. After editing the template, you can send it to interested parties and track opens and views through PandaDoc.

10. Invoiceberry Templates for Word, Open Office, Excel, or PPT

InvoiceBerry is a U.K based online invoicing and tracking platform that offers free business plan templates in .docx, .odt, .xlsx, and .pptx formats for freelancers and small businesses.

Before you can download the free business plan template, it will ask you to give it your email address. After you complete the little task, it will send the download link to your inbox for you to download. It also provides a business plan checklist in .xlsx file format that ensures you add the right information to the business plan.

Alternatives to the Traditional Business Plan

A business plan is very important in mapping out how one expects their business to grow over a set number of years, particularly when they need external investment in their business. However, many investors do not have the time to watch you present your business plan. It is a long and boring read.

Luckily, there are three alternatives to the traditional business plan (the Business Model Canvas, Lean Canvas, and Startup Pitch Deck). These alternatives are less laborious and easier and quicker to present to investors.

Business Model Canvas (BMC)

The business model canvas is a business tool used to present all the important components of setting up a business, such as customers, route to market, value proposition, and finance in a single sheet. It provides a very focused blueprint that defines your business initially which you can later expand on if needed.

The sheet is divided mainly into company, industry, and consumer models that are interconnected in how they find problems and proffer solutions.

Segments of the Business Model Canvas

The business model canvas was developed by founder Alexander Osterwalder to answer important business questions. It contains nine segments.

• Key Partners: Who will be occupying important executive positions in your business? What do they bring to the table? Will there be a third party involved with the company?
• Key Activities: What important activities will production entail? What activities will be carried out to ensure the smooth running of the company?
• The Product’s Value Propositions: What does your product do? How will it be different from other products?
• Customer Segments: What demography of consumers are you targeting? What are the habits of these consumers? Who are the MVPs of your target consumers?
• Customer Relationships: How will the team support and work with its customer base? How do you intend to build and maintain trust with the customer?
• Key Resources: What type of personnel and tools will be needed? What size of the budget will they need access to?
• Channels: How do you plan to create awareness of your products? How do you intend to transport your product to the customer?
• Cost Structure: What is the estimated cost of production? How much will distribution cost?
• Revenue Streams: For what value are customers willing to pay? How do they prefer to pay for the product? Are there any external revenues attached apart from the main source? How do the revenue streams contribute to the overall revenue?

Lean Canvas

The lean canvas is a problem-oriented alternative to the standard business model canvas. It was proposed by Ash Maurya, creator of Lean Stack as a development of the business model generation. It uses a more problem-focused approach and it majorly targets entrepreneurs and startup businesses.

Lean Canvas uses the same 9 blocks concept as the business model canvas, however, they have been modified slightly to suit the needs and purpose of a small startup. The key partners, key activities, customer relationships, and key resources are replaced by new segments which are:

• Problem: Simple and straightforward number of problems you have identified, ideally three.
• Solution: The solutions to each problem.
• Unfair Advantage: Something you possess that can't be easily bought or replicated.
• Key Metrics: Important numbers that will tell how your business is doing.

Startup Pitch Deck

While the business model canvas compresses into a factual sheet, startup pitch decks expand flamboyantly.

Pitch decks, through slides, convey your business plan, often through graphs and images used to emphasize estimations and observations in your presentation. Entrepreneurs often use pitch decks to fully convince their target audience of their plans before discussing funding arrangements.

Considering the likelihood of it being used in a small time frame, a good startup pitch deck should ideally contain 20 slides or less to have enough time to answer questions from the audience.

Unlike the standard and lean business model canvases, a pitch deck doesn't have a set template on how to present your business plan but there are still important components to it. These components often mirror those of the business model canvas except that they are in slide form and contain more details.

Using Airbnb (one of the most successful start-ups in recent history) for reference, the important components of a good slide are listed below.

• Cover/Introduction Slide: Here, you should include your company's name and mission statement. Your mission statement should be a very catchy tagline. Also, include personal information and contact details to provide an easy link for potential investors.
• Problem Slide: This slide requires you to create a connection with the audience or the investor that you are pitching. For example in their pitch, Airbnb summarized the most important problems it would solve in three brief points – pricing of hotels, disconnection from city culture, and connection problems for local bookings.
• Solution Slide: This slide includes your core value proposition. List simple and direct solutions to the problems you have mentioned
• Customer Analysis: Here you will provide information on the customers you will be offering your service to. The identity of your customers plays an important part in fundraising as well as the long-run viability of the business.
• Market Validation: Use competitive analysis to show numbers that prove the presence of a market for your product, industry behavior in the present and the long run, as well as the percentage of the market you aim to attract. It shows that you understand your competitors and customers and convinces investors of the opportunities presented in the market.
• Business Model: Your business model is the hook of your presentation. It may vary in complexity but it should generally include a pricing system informed by your market analysis. The goal of the slide is to confirm your business model is easy to implement.
• Marketing Strategy: This slide should summarize a few customer acquisition methods that you plan to use to grow the business.
• Competitive Advantage: What this slide will do is provide information on what will set you apart and make you a more attractive option to customers. It could be the possession of technology that is not widely known in the market.
• Team Slide: Here you will give a brief description of your team. Include your key management personnel here and their specific roles in the company. Include their educational background, job history, and skillsets. Also, talk about their accomplishments in their careers so far to build investors' confidence in members of your team.
• Traction Slide: This validates the company’s business model by showing growth through early sales and support. The slide aims to reduce any lingering fears in potential investors by showing realistic periodic milestones and profit margins. It can include current sales, growth, valuable customers, pre-orders, or data from surveys outlining current consumer interest.
• Funding Slide: This slide is popularly referred to as ‘the ask'. Here you will include important details like how much is needed to get your business off the ground and how the funding will be spent to help the company reach its goals.
• Appendix Slides: Your pitch deck appendix should always be included alongside a standard pitch presentation. It consists of additional slides you could not show in the pitch deck but you need to complement your presentation.

It is important to support your calculations with pictorial renditions. Infographics, such as pie charts or bar graphs, will be more effective in presenting the information than just listing numbers. For example, a six-month graph that shows rising profit margins will easily look more impressive than merely writing it.

Lastly, since a pitch deck is primarily used to secure meetings and you may be sharing your pitch with several investors, it is advisable to keep a separate public version that doesn't include financials. Only disclose the one with projections once you have secured a link with an investor.

Advantages of the Business Model Canvas, Lean Canvas, and Startup Pitch Deck over the Traditional Business Plan

• Time-Saving: Writing a detailed traditional business plan could take weeks or months. On the other hand, all three alternatives can be done in a few days or even one night of brainstorming if you have a comprehensive understanding of your business.
• Easier to Understand: Since the information presented is almost entirely factual, it puts focus on what is most important in running the business. They cut away the excess pages of fillers in a traditional business plan and allow investors to see what is driving the business and what is getting in the way.
• Easy to Update: Businesses typically present their business plans to many potential investors before they secure funding. What this means is that you may regularly have to amend your presentation to update statistics or adjust to audience-specific needs. For a traditional business plan, this could mean rewriting a whole section of your plan. For the three alternatives, updating is much easier because they are not voluminous.
• Guide for a More In-depth Business Plan: All three alternatives have the added benefit of being able to double as a sketch of your business plan if the need to create one arises in the future.

Business Plan FAQ

Business plans are important for any entrepreneur who is looking for a framework to run their company over some time or seeking external support. Although they are essential for new businesses, every company should ideally have a business plan to track their growth from time to time.  They can be used by startups seeking investments or loans to convey their business ideas or an employee to convince his boss of the feasibility of starting a new project. They can also be used by companies seeking to recruit high-profile employee targets into key positions or trying to secure partnerships with other firms.

Business plans often vary depending on your target audience, the scope, and the goals for the plan. Startup plans are the most common among the different types of business plans.  A start-up plan is used by a new business to present all the necessary information to help get the business up and running. They are usually used by entrepreneurs who are seeking funding from investors or bank loans. The established company alternative to a start-up plan is a feasibility plan. A feasibility plan is often used by an established company looking for new business opportunities. They are used to show the upsides of creating a new product for a consumer base. Because the audience is usually company people, it requires less company analysis. The third type of business plan is the lean business plan. A lean business plan is a brief, straight-to-the-point breakdown of your ideas and analysis for your business. It does not contain details of your proposal and can be written on one page. Finally, you have the what-if plan. As it implies, a what-if plan is a preparation for the worst-case scenario. You must always be prepared for the possibility of your original plan being rejected. A good what-if plan will serve as a good plan B to the original.

A good business plan has 10 key components. They include an executive plan, product analysis, desired customer base, company analysis, industry analysis, marketing strategy, sales strategy, financial projection, funding, and appendix. Executive Plan Your business should begin with your executive plan. An executive plan will provide early insight into what you are planning to achieve with your business. It should include your mission statement and highlight some of the important points which you will explain later. Product Analysis The next component of your business plan is your product analysis. A key part of this section is explaining the type of item or service you are going to offer as well as the market problems your product will solve. Desired Consumer Base Your product analysis should be supplemented with a detailed breakdown of your desired consumer base. Investors are always interested in knowing the economic power of your market as well as potential MVP customers. Company Analysis The next component of your business plan is your company analysis. Here, you explain how you want to run your business. It will include your operational strategy, an insight into the workforce needed to keep the company running, and important executive positions. It will also provide a calculation of expected operational costs.  Industry Analysis A good business plan should also contain well laid out industry analysis. It is important to convince potential investors you know the companies you will be competing with, as well as your plans to gain an edge on the competition. Marketing Strategy Your business plan should also include your marketing strategy. This is how you intend to spread awareness of your product. It should include a detailed explanation of the company brand as well as your advertising methods. Sales Strategy Your sales strategy comes after the market strategy. Here you give an overview of your company's pricing strategy and how you aim to maximize profits. You can also explain how your prices will adapt to market behaviors. Financial Projection The financial projection is the next component of your business plan. It explains your company's expected running cost and revenue earned during the tenure of the business plan. Financial projection gives a clear idea of how your company will develop in the future. Funding The next component of your business plan is funding. You have to detail how much external investment you need to get your business idea off the ground here. Appendix The last component of your plan is the appendix. This is where you put licenses, graphs, or key information that does not fit in any of the other components.

The business model canvas is a business management tool used to quickly define your business idea and model. It is often used when investors need you to pitch your business idea during a brief window.

A pitch deck is similar to a business model canvas except that it makes use of slides in its presentation. A pitch is not primarily used to secure funding, rather its main purpose is to entice potential investors by selling a very optimistic outlook on the business.

Business plan competitions help you evaluate the strength of your business plan. By participating in business plan competitions, you are improving your experience. The experience provides you with a degree of validation while practicing important skills. The main motivation for entering into the competitions is often to secure funding by finishing in podium positions. There is also the chance that you may catch the eye of a casual observer outside of the competition. These competitions also provide good networking opportunities. You could meet mentors who will take a keen interest in guiding you in your business journey. You also have the opportunity to meet other entrepreneurs whose ideas can complement yours.

Exlore Further

• 12 Key Elements of a Business Plan (Top Components Explained)
• 13 Sources of Business Finance For Companies & Sole Traders
• 5 Common Types of Business Structures (+ Pros & Cons)
• How to Buy a Business in 8 Steps (+ Due Diligence Checklist)

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

The Complete Guide To Office Fit Outs

Welcome to our comprehensive pillar post, where we dive into the essential aspects of transforming your office workspace into a dynamic, efficient, and inspiring environment. Whether you’re planning a commercial design and fit out , considering an office refurbishment, or seeking to enhance employee well-being, this guide is your go-to resource.

In today’s rapidly evolving business landscape, the office plays a crucial role in fostering productivity, collaboration, and employee satisfaction. It’s not just about aesthetics but also about aligning your workspace with your organisation’s goals and the needs of your workforce.

Through this guide, we’ll explore a wide range of topics, each representing a key chapter that offers valuable insights and practical tips from industry experts. From understanding the fundamentals of commercial design and fit outs to incorporating sustainability, employee well-being, and post-COVID-19 considerations, we have you covered.

Join us on this journey as we explore the following chapters:

• What Is a Commercial Design and Fit Out? – Discover the essentials of commercial design and fit outs and how they can transform your workspace.
• Key Things to Consider in Your Workspace Design – Uncover the key considerations that drive effective workspace design and their impact on employee productivity.
• The Top 5 Things to Consider During an Office Refurbishment – Gain insights into the critical aspects of successfully refurbishing your office space.
• Why Should You Care About Sustainable Workplace Design? – Explore the benefits of integrating sustainability practices into your workplace design.
• Modern Office Design Post-COVID-19: Opinions From a Workplace Design Company – Understand the evolving trends and modern considerations in office design following the COVID-19 pandemic.
• How to Influence Psychology in the Workplace – Learn how workspace layout, lighting, and acoustics can positively impact employee well-being and productivity.
• Benefits of Turnkey Office Design – Discover the advantages of a turnkey approach that streamlines the design, planning, and construction phases of your project.
• What Do Employees Want From Their Office Space? – Understand the importance of employee input and collaboration when designing a workspace that aligns with their needs.
• Collaborative Working Spaces – Explore the benefits and design strategies for creating collaborative environments that foster innovation and teamwork.
• How Much Does an Office Fit Out Cost? – Gain insights into the factors influencing the cost of an office fit out and budget allocation considerations.
• A Step-by-Step Guide to CAT B Office Fit Outs – Follow a comprehensive step-by-step approach to successfully execute CAT B office fit outs.

Looking for more information? Click on each header to check out the expanded posts, where we dive into each of these areas one-by-one in more detail, offering practical advice and expert insights to guide you through every stage of your office fit out journey.

What Is a Commercial Design and Fit Out?

A commercial design and fit out involves the strategic process of transforming an office space to align with the organisation’s goals. It optimises workflow, space utilisation, and employee well-being.

To begin, a comprehensive assessment of the existing space is conducted, considering layout, functionality, and brand identity. Clear objectives are established, and a project timeline is created. Collaboration among stakeholders ensures a cohesive approach.

The benefits of a well-executed commercial design and fit out are significant. It enhances employee engagement, productivity, and satisfaction by creating a functional and visually appealing environment. It maximises the potential of the workspace to meet specific requirements.

By understanding the fundamentals of commercial design and fit outs, you can embark on your transformational journey with confidence. Discover how this process can elevate your office space and support your organisation’s success.

Finished project – Resolution Interiors Project

Key Considerations During Your Early Workspace Planning

Creating a well-designed workspace is crucial for enhancing productivity, collaboration, and employee satisfaction. When planning your workspace design, several key factors should be considered.

• Functionality : Prioritise functionality by understanding the specific needs and activities of your team. Consider areas for focused work, collaboration, meetings, and relaxation.
• Flexibility : Embrace flexibility to accommodate evolving work styles and preferences. Incorporate modular furniture, movable partitions, and adaptable spaces to cater to changing needs.
• Ergonomics : Pay attention to ergonomics to promote employee well-being and reduce the risk of injuries. Provide adjustable desks, supportive chairs, and proper lighting to create a comfortable working environment.
• Brand Identity : Reflect your brand identity through the design elements, colours, and materials used in the workspace. This helps create a cohesive and engaging atmosphere that aligns with your company culture.
• Technology Integration : Integrate technology seamlessly into your workspace design. Consider power outlets, charging stations, video conferencing facilities, and ergonomic solutions for technology devices.
• Biophilic Design : Incorporate elements of nature, such as plants, natural light, and outdoor views, to improve employee well-being, creativity, and overall satisfaction.

By considering these key aspects during your workspace design, you can create an environment that fosters productivity, collaboration, and employee happiness. A well-designed workspace positively impacts your organisation’s culture and performance, making it a worthwhile investment.

The Top 5 Things to Consider During an Office Refurbishment

When embarking on an office refurbishment project, there can be a lot to keep track of. Partnering with a design and fit out team will resolve this, but you should still take time to prepare for what’s involved . Here are the top five things to keep in mind:

• Needs Assessment : Start by conducting a thorough assessment of your current office space. Identify pain points, inefficiencies, and areas that need improvement. Consider factors such as layout, storage, lighting, acoustics, and overall functionality.
• Budget Planning : Set a realistic budget for your refurbishment project. Consider not only the cost of materials and construction but also additional expenses such as furniture, equipment, and professional services. Prioritise the areas that require the most attention within your budget constraints.
• Design and Layout : Work with an experienced design team to develop a well-thought-out layout that maximises space utilisation and reflects your brand identity. Consider factors such as open vs. closed spaces, collaborative areas, breakout zones, and private workspaces.
• Employee Involvement : Engage your employees throughout the refurbishment process. Seek their input on their needs, preferences, and ideas. Involving them in decision-making fosters a sense of ownership and ensures that the new office space meets their requirements.
• Timing and Minimising Disruptions : Plan the refurbishment timeline carefully to minimise disruptions to daily operations. Consider phased renovations, temporary workspaces, or after-hours construction to maintain productivity. Communicate the project timeline to employees and stakeholders to manage expectations.

By considering these top five factors during your office refurbishment, you can create a revitalised workspace that enhances productivity, collaboration, and employee satisfaction. A well-executed refurbishment project can transform your office into a more functional, inspiring, and enjoyable environment for everyone.

Functional Workplace Design Can Incorporate Pods & Booths For Privacy

The Power of Sustainable Workplace Design

Incorporating sustainable design principles into your workplace is not only beneficial for the environment but also for your business. Here’s why you should care about sustainable workplace design:

• Reducing Costs and Environmental Risks : Sustainable design practices, such as energy-efficient lighting, smart HVAC systems, and water-saving fixtures, can significantly reduce operational costs and resource consumption. By optimising energy and water usage, you can lower utility bills and minimise your environmental footprint.
• Elevating Your Brand Image : Demonstrating a commitment to sustainability can enhance your brand image and attract eco-conscious clients, partners, and employees. A sustainable workplace showcases your corporate values and positions your company as a responsible and forward-thinking organisation.
• Meeting Sustainability Initiatives : Many companies today are prioritising sustainability as part of their Environmental, Social, and Governance (ESG) initiatives. Embracing sustainable workplace design helps you align with these broader sustainability goals and comply with industry standards and regulations.
• Employee Wellbeing and Productivity : Sustainable design features, such as natural light, improved air quality, and biophilic elements, have been shown to enhance employee wellbeing and productivity. A green and healthy workplace promotes employee satisfaction, reduces absenteeism, and boosts creativity and innovation.
• Future-Proofing Your Workplace : Sustainable design is forward-thinking and adaptable. It considers long-term environmental impacts, resource conservation, and resilience. By implementing sustainable practices now, you future-proof your workplace against changing regulations and increasing environmental awareness.

By embracing sustainable workplace design, you can create an environmentally friendly, cost-effective, and employee-centric workspace that aligns with your business objectives and values. Invest in sustainable practices to create a positive impact on both your organisation and the planet.

Modern Office Design Post-COVID-19

The COVID-19 pandemic reshaped the way we work, emphasising the significance of modern office design in promoting health, safety, and productivity.

Following the pandemic, workers are looking for more flexible and agile workspaces . This can be achieved through modular furniture and versatile layouts to accommodate changing needs and to integrate the growing demand for hybrid working.

Alongside this, look to include Dedicated Collaborative Spaces . These designated areas support teamwork while maintaining collaboration, and can even include technology solutions to accommodate virtual collaboration through the likes of Zoom and Microsoft Teams.

Ultimately, workers are more keen than ever to have spaces that are comfortable and work for them. Promoting this through biophilic design is a great way to make a space feel homely. Integrate natural elements, such as natural light, greenery, and outdoor access, to enhance employee wellbeing.

By embracing modern office design principles post-COVID-19, you can create a safe, adaptable, and employee-centric workspace that promotes collaboration, productivity, and wellbeing in the new era of work. Prioritise the evolving needs and expectations of your workforce to stay ahead of the curve.

How to Influence Psychology in the Workplace

The design of a workspace can significantly impact the psychological well-being and productivity of employees. Here are key factors to consider when shaping a psychologically supportive workplace:

• Colour Psychology: Choose colours that evoke desired emotions and promote focus, creativity, or relaxation. For example, blue can enhance productivity, while green can foster a sense of calmness.
• Lighting: Incorporate natural light as much as possible, as it positively affects mood, energy levels, and productivity. Use adjustable lighting solutions to create the right ambiance for different tasks and activities.
• Noise Control: Implement acoustic treatments, sound-absorbing materials, and design layouts that minimise noise distractions. Provide quiet zones and designated areas for collaborative activities to accommodate different work styles.
• Biophilic Design: Integrate nature-inspired elements such as plants, natural textures, and views of outdoor spaces. Biophilic design has been shown to reduce stress, enhance creativity, and increase overall well-being.
• Ergonomics: Ensure ergonomic furniture and equipment are provided to support proper posture, comfort, and reduce the risk of musculoskeletal issues. Adjustable desks, supportive chairs, and ergonomic accessories contribute to employee well-being.
• Personalisation: Allow employees to personalise their workspace, which can increase a sense of ownership, comfort, and satisfaction. Encourage the display of personal items, artwork, or plants to create a more personalised and inspiring environment.

By considering these psychological aspects in workplace design, you can create an environment that fosters employee engagement, well-being, and productivity, ultimately contributing to a positive work experience for your team.

Sustainable workplace design can promote staff wellbeing

Benefits of Turnkey Office Design

Turnkey office design offers a comprehensive solution that manages the entire process, from initial planning to final implementation. It is always recommended to partner with specialists who offer a complete service, including the planning, design and build stages.

Here are some of the key benefits of opting for a turnkey approach for your office fit out project:

Streamlined Project Management:

With a turnkey service, you have a single point of contact overseeing the entire project. This ensures seamless coordination between different stakeholders, minimising delays and communication issues.

Time and Cost Efficiency:

Turnkey providers have the expertise and resources to efficiently manage the project, saving you time and reducing costs. They can handle everything from space planning and procurement to construction and installation, eliminating the need for multiple contractors.

Expertise and Experience:

Turnkey providers specialise in office design and have extensive experience in delivering successful projects. They understand the latest industry trends, regulations, and best practices, ensuring your office design is optimised for functionality and aesthetics.

Customisation and Flexibility:

A turnkey service allows for a high level of customisation to meet your specific requirements. The provider works closely with you to understand your vision and objectives, creating a tailored solution that aligns with your brand identity and work culture.

Reduced Stress and Hassle:

By entrusting your office design project to a turnkey provider, you can alleviate the stress and burden of managing the project yourself. They take care of all the details, allowing you to focus on your core business operations.

Accountability and Support:

With a turnkey service, you have a dedicated team responsible for the entire project. They take accountability for the project’s success and provide ongoing support, ensuring any issues or concerns are promptly addressed.

By opting for a turnkey office design solution, you can streamline the process, save time and costs, and benefit from the expertise and support of professionals who will guide you from concept to completion, resulting in a functional and inspiring workspace.

What Do Employees Want from Their Office Space?

Creating an office space that caters to the needs and desires of employees is essential for fostering a productive and engaging work environment . We’ve touched on how to adapt your workspace to your team and workers post COVID-19. But, there are some things that workers are universally asking for from their employers:

• Comfortable and Ergonomic Furniture: Employees appreciate comfortable seating and adjustable desks that promote good posture and minimise discomfort.
• Adequate Space and Layout: A well-designed office provides enough space for movement, collaboration areas, and breakout zones to accommodate various work styles and activities.
• Natural Light and Proper Lighting: Ample natural light and well-planned artificial lighting systems contribute to a positive atmosphere, enhance mood, and support productivity.
• Noise Control and Acoustics: Employees value a quiet environment that allows them to concentrate and focus. Incorporating sound-absorbing materials and designated quiet zones can help minimise distractions.
• Personalisation Opportunities: Allowing employees to personalise their workstations with personal items and decor elements creates a sense of ownership and boosts morale.
• Collaborative Spaces: Designating areas for collaboration, brainstorming, and informal meetings encourages teamwork, creativity, and innovation among employees.

By addressing these factors in your office design, you can create a workspace that prioritises employee well-being, collaboration, and productivity, leading to a positive and fulfilling work environment.

Collaborative Working Spaces For Offices

As you’ve probably seen throughout this post, collaboration is a key term in modern day office design. In today’s dynamic work environment, collaboration plays a crucial role in driving innovation and achieving business goals. But how can you implement design features that promote teamwork and communication?

Open Plan Layout:

An open plan office promotes communication and collaboration by removing physical barriers and facilitating easy interaction among team members.

Flexible and Agile Furniture:

Incorporating movable furniture and modular workstations allows for easy reconfiguration of space to accommodate different collaborative activities and group sizes.

Dedicated Collaboration Zones:

Designating specific areas for collaborative work, such as meeting rooms, huddle spaces, and breakout areas, encourages spontaneous discussions, brainstorming sessions, and idea sharing.

Technological Integration:

Equipping collaboration spaces with modern technology, such as video conferencing systems, interactive displays, and collaborative software, facilitates virtual collaboration and remote teamwork.

Comfort and Amenities:

Creating comfortable and inviting collaborative spaces with ergonomic seating, whiteboards, projectors, and access to refreshments ensures that employees can collaborate effectively for extended periods.

Creative and Inspiring Environment:

Incorporating elements of design, such as vibrant colours, artwork, and plants, stimulates creativity and encourages out-of-the-box thinking.

Privacy Considerations:

Balancing the need for collaboration with individual privacy is important. Providing private meeting rooms or enclosed spaces for confidential discussions or focused work helps maintain a productive and comfortable work environment.

Promoting Collaboration Culture:

Beyond physical spaces, fostering a culture of collaboration through team-building activities, cross-functional projects, and encouraging open communication enhances the effectiveness of collaborative working spaces.

By designing collaborative spaces that prioritise flexibility, technology integration, comfort, and privacy considerations, organisations can create an environment that fosters collaboration, encourages innovation, and drives business success.

Combining different hangout zones promotes collaboration

How Much Does an Office Fit Out Cost?

Determining the cost of an office fit out is a complex process that depends on various factors. We won’t disservice you by throwing out numbers and guesses, instead let’s look at some of the key factors that govern cost.

If you want more of an insight into the costs of a fit out, please read the complete Maximising Your Office’s Potential guide, where we go into more detail.

For now though, here are some key factors that may affect the cost of a fit out project:

• Project Objectives: The scope and scale of your office fit out project will significantly impact the cost. Clearly define your project objectives and identify the specific works that need to be conducted.
• Space Size and Layout: The size and layout of the office space influence the overall cost. Larger spaces with intricate layouts may require more materials, labour, and time, resulting in higher costs.
• Design and Finishes : The level of design complexity and the finishes you choose, such as flooring, lighting, fixtures, and furniture, will affect the overall cost. Higher-end finishes and customised elements tend to increase expenses.
• Mechanical and Electrical Requirements: If your office fit out involves modifications to the mechanical and electrical systems, such as HVAC upgrades or rewiring, it can significantly impact the budget.
• Compliance and Regulations: Meeting building codes, permits, and regulations may involve additional costs, such as obtaining necessary approvals and conducting inspections.
• Specialist Requirements: If your business has specialised requirements, such as technology infrastructure, data centres, or specialised equipment installations, these factors will contribute to the overall cost.

To obtain an accurate cost estimate for your office fit out, engage with a reputable design and fit out specialist early on in the planning process. They can provide valuable insights, conduct a thorough assessment of your requirements, and help you develop a budget that aligns with your project goals.

A Step-by-Step Guide to Cat B Office Fit Outs

Undertaking a Cat B office fit out project can be an exhilarating but challenging undertaking. Without the right assistance, the fit out process can be quite intimidating. From the initial planning and design stages to the actual construction and project management, there are numerous aspects to consider.

Thankfully, there are companies dedicated to guiding businesses through every step of the fit out journey, ensuring a seamless process from beginning to end.

At Resolution Interiors, when working on a fit out project with our clients we break down the process as:

• The Consultation
• Concept Design
• Project Capture
• Design Development
• Pre-Construction
• The Construction

For more information about each of these steps and what is involved take a look at the complete guide to Maximising Your Office’s Potential or read the complete step-by-step process.

Conclusion –

Embarking on an office fit out project is a significant undertaking that requires careful consideration and strategic planning. Throughout this pillar post, we have explored various aspects of office fit outs, from understanding the concept and key considerations to incorporating sustainability, employee well-being, and collaborative spaces into the design.

By partnering with a reputable design and fit out company like Resolution Interiors , businesses can benefit from industry-leading expertise and ongoing support.

With comprehensive services that encompass the entire fit out journey, from initial planning and design to construction and project management. This turnkey approach ensures a streamlined and efficient process, resulting in a workspace that aligns with your business objectives and enhances productivity.

Looking To Find Out More?

Download ‘Maximising Your Office’s Potential: The Complete Design & Fit Out Guide For Workspaces’ today! This complete guide expands on all of these points offering you more insights into planning, budget, and design considerations helping you maximise the potential of your new space.

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Office Fit Out Checklist – A Complete Step-by-Step Guide

Jerry Hubble - Head of Projects

7 minute read

So you’ve decided that it’s time to give your business a new lease of life by updating your office space. Whether you plan on staying in the same location or relocating altogether, there is a wide range of options and opportunities waiting for you. It’s important to look at the bigger picture and brainstorm your hopes and aspirations for the transformation with the help of a professional fit-out company . From office furniture, space planning and paint schemes to more logistical matters such as budget, timeframe and health and safety there is plenty to consider. A fit-out checklist will make this process a breeze so that no stone is left unturned and you’ve taken all aspects into consideration. This is your work environment as well as that of your teams, so dedicate some time to assess how this will benefit everyone in the long run.

Why do you need a new office?

Pinpoint your goals.

Do you walk into your current office and feel uninspired or that it’s dated? There are a number of reasons why investing in a new office has its advantages, but they have to be personal to you and the business. This could include a new injection of funding which allows you to update the technology in the office, or introduce break-out and meeting areas, entertainment spaces, as well as conference rooms. By pinpointing your goals you’re justifying the decision to move forward with a fit-out that will bring plenty of benefits. From enhancing productivity and creativity to improving the well-being of your workforce, impressing new clients or reflecting new branding within the office space. There are heaps of advantages to putting your project plan into action.

Staying or relocating?

Depending on your circumstances will determine whether you are staying put in your current office or moving to a new one that is in need of refurbishment. There are a number of reasons for relocation such as whether or not the space is fit for purpose, your current office doesn’t comply with safety regulations, or you need to move to a different area to meet new needs and requirements of the business such as an acquisition or an increase in staff numbers. To move things along smoothly then a commercial property agent will be a great help when searching for a new place that ticks all the boxes.

Legal & Logistics Considerations

Before any contractors step foot into your office, you need to look at both legal and logistical considerations so that you don’t run into any trouble. Whilst the fit-out company will likely have their own insurance it’s worth taking out your own Public and Product Liability Insurance, Professional Indemnity Insurance and Employers’ Liability Insurance so that you’re covered by all angles. Also, ensure that the refurbishment is compliant with essential rules and regulations. This includes being subject to the Equality Act (2010) and investigating if there is asbestos in the building. Your chosen contractor will be able to advise on these matters but they do change from project to project, so professional guidance is key.

Office Owner/Landlord

Before even contemplating an office fit-out it’s essential to find out from the office owner or landlord if it’s acceptable to undertake major renovations. Improvements such as fresh paint, new carpet or the installation of sectional walls could be against your current contract which you wouldn’t want to break as this could result in not only a bad relationship but legal action too. It needs to be clear in writing what you are and are not allowed to do within the building and if there are restrictions in place, then a potential relocation could be the right choice for you.

Safety Compliance

As mentioned above, there are a number of important considerations to take on board when it comes to legal matters and safety compliance. We don’t want anyone to get hurt during the process, whether that’s your workforce or the project team, therefore taking health and safety seriously is key. Get up-to-date with the latest regulations and see to any potential hazards such as loose items, broken furniture, exposed wires and lifted carpets that people may trip over. Have your electrical items been Pact tested and do you need to revise exit routes in case of a fire?

Set a Budget

It’s no secret that refurbishments can be quite costly. That’s why setting a realistic and affordable budget that won’t stretch the bank is a must. Do your research into different companies who have a respectable reputation, but also look around for costings for furniture, materials and equipment. Put together a spreadsheet of how much you’re prepared to spend in each department and have a reserve fund on standby if you need any additional work completed at the time.

Click here to find out what your fit – out will cost

Appointing a project manager or project team

Selecting an efficient and effective project management team and project leader will be the difference between a successful transformation and a failed one. Look online for reviews of different businesses or get word-of-mouth recommendations from fellow companies that have gone through a similar process. You want an office fit-out company that is transparent and innovative, will stick to the budget and deliver results on time. They’ll have their finger on the pulse with regard to legal matters and logistics whilst having an eye for detail and design.

Develop a detailed interior plan

When collaborating with a company for your office fit-out project, they’ll be able to provide a dedicated interior design team who will discuss your desires and requirements for how you want to office fit-out plan to look. From where you’ll place tables and chairs to artwork, lighting, furniture and important aspects such as plug sockets, they’ll be able to present a comprehensive and detailed interior plan that will make the process easier to digest.

Picking out new furniture is one of the many exciting parts when fitting out an office. From colour schemes to materials, unique shapes and styles, you’ll be able to select from a wide range of manufacturers that will be able to cater for every area in the office from the meeting room to the kitchen and reception.

Whether you’ve got plenty of natural light coming through to the office or you’re in need of bright and vibrant lighting that won’t give your workforce a headache, investing in decent and energy-efficient lighting is vital. Shop around and get feedback from your team about what will help improve working conditions in the office environment.

IT & Equipment

If you’re starting fresh and buying the latest IT and equipment, your budget will play a part in this and how much you can purchase. From new computers to kitchen accessories, touch screens and entertainment, this is your chance to invest in exciting technology that will boost the productivity of your team.

It’s something that probably isn’t a top priority for your refurbishment but if you are carrying out an office relocation or your adding additional areas to your current space, think about how much storage you’ll need. This could be for a range of items such as stationary, merchandise, files and that essential tea and coffee!

Pick an established office fit-out company

Researching which office fit-out company you’re going to bring on board for this project is essential. Look at their portfolio, list of services and pricing structure to ensure you’re on the same page and that they’ll deliver on your checklist.

Make your move

At Cobus Spaces we provide the ultimate office fit-out for clients across the country. We are renowned for delivering outstanding results time and time again and businesses trust us to innovate their workspace. We truly take on board your wants and needs and produce awe-inspiring ideas paired with the finest materials and manufacturers. Make the first move by contacting our team to see how we can assist you with your office fit-out.

Speak to our team to find out how we can transform your office.

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Things To Know Before Establishing A Fit Out Company

Starting a fit out company can be a lucrative venture, given the growing demand for commercial and residential space transformations. However, launching a fit out business requires careful planning and a deep understanding of the industry. Find here key considerations to keep in mind before establishing a fit out company Dubai :

Industry knowledge and expertise:

A strong foundation in the fit out industry is vital. This includes understanding design principles, construction techniques, and project management. Gaining experience in the field, whether through previous employment or education, will help you steer the complexities of fit outs. Knowledge of industry trends, materials, and regulations is also essential for providing high-quality services.

Business plan and strategy:

Developing an inclusive business plan is vital for the success of your fit out company. Your plan should outline your business goals, target market, competitive analysis, services offered, pricing strategy, and financial projections. A well-thought-out strategy will guide your operations and help you attract clients, secure funding, and achieve long-term success.

Legal and regulatory requirements:

Understanding and complying with legal and regulatory requirements is vital. This includes registering your business, obtaining the necessary licenses and permits, and ensuring adherence to local building codes and safety regulations. You may also need insurance coverage, such as liability insurance and workers’ compensation, to protect your business and employees.

Market research and target audience:

Conduct thorough market research to identify your target audience and understand their needs. Determine whether you will focus on residential, commercial, or both types of fit outs. Understanding your market will help you tailor your services, marketing strategies, and pricing to attract and retain clients effectively.

Financial management:

Effective financial management is essential for running a successful fit out company. This includes budgeting for start-up costs, managing cash flow, and setting up accounting systems. Be prepared for initial expenses such as equipment, materials, marketing, and salaries. Having a clear financial plan will help you manage resources and ensure profitability.

Building a network:

Networking is vital in the fit out industry. Building relationships with suppliers, subcontractors, architects, and real estate agents can provide valuable resources and opportunities for collaboration. Attend industry events, join professional associations, and engage with clients to establish a strong network.

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The Fit-Out Construction Process and Different Types of Fit-Outs

“Fit out” refers to the process of making an interior space ready for occupation. As a common practice, when constructing commercial buildings, the spaces inside are left bare for the occupants to determine the level of refurbishment needed (or fitting out).

Ideally, fit-outs allow the business to plan and create how the establishment will look like.

In building preparation, fit-out refers to activities such as the installation of the floors, ceilings, partitions, and furnishings. Additionally, building services such as cabling, wiring, internet connectivity, and communication arrangements may also fall under the fitting out process.

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What Is An Office Fitout?

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The Fit-Out Construction Process and Different Types of Fit-Outs

January 23, 2020

Ideally, fit-outs allow the business to plan and create how the establishment will look like.

In building preparation, fit-out refers to activities such as the installation of the floors, ceilings, partitions, and furnishings. Additionally, building services such as cabling, wiring, internet connectivity, and communication arrangements may also fall under the fitting out process.

Fit Out vs. Renovation: What’s the Difference?

Often, people confuse fit-outs with renovations, and most times, the two are used interchangeably. However, while they’re closely related, both have distinctive purposes and procedures.

To easily understand these two terms, let’s take the example of an office fit-out.

What is an Office Fit-Out?

This involves taking an empty space and transforming it into a usable office set up. This means putting up structural features like window placements, door fittings, heating, plumbing, and ventilation.

What is an Office Renovation?

Office renovation has more to do with the interior design aspects of the office. These are the features needed to give the space a professional look. Ideally, renovation is more about revamping a space to give it more aesthetics. This may include painting, adding better furniture, and including some décor items. Generally, an office renovation takes longer than a fit-out process.

What are the Different Types of Fit-Outs?

Commercial fit-outs are classified into three major categories – Category A, Category B, and Shell-Core fit-outs. To make a more informed decision when fitting out a commercial space, you need to understand what each category involves:

Shell and Core Fit-Out

Here, the framework of the building is already in place waiting for the fitting out process. From the outside, the envelope of the building may appear done, however, it’s missing several components such as power, interior walls, lighting, and heating.

A shell and core fit-out allows a business to custom fit a space to its specifications. This is suitable for large companies taking up a lot of space.

Category A Fit-Out

Category A fit-out is typically what is found in a commercial space that’s ready for renting. This is a basic functional unit with some utilities such as electrical wiring and plumbing fixtures already in place.

Usually, a Category A fit-out will involve installing features such as:

• Electrical outlets
• Raised access floors
• HVAC systems
• Fire protection systems
• Grid ceiling

Basically, the space is functional but lacks the secondary features of design that’ll make it fit for its intended use. From this building phase, a business moves in and implements a Category B layout.

Category B Fit-Out

Category B fit-out is the layout that takes into account your business needs and image. This fit-out involves installing features and systems lacking in Category A. In other words, Category B is the aesthetic design fit-out phase where the space is made to be more specific to the business.

This phase may involve window treatments, adding furniture, installing the lighting, adding some flooring, partitioning, painting, and branding.

For best results, Category B should be inspired by the company’s culture, work ethics, team size, and protocols. This is the stage to tap into your creativity and business style to create a compelling brand image.

Things to Consider Before You Start a Fit-Out Project

Commercial fitting out requires a lot of planning and preparation. Before starting any project, consider the following important factors:

Comprehensive Price Estimate

Before conducting a commercial office fit-out project, confirm that the initial quote received from the interior design company is comprehensive and eliminate any additional expenses. Take time to review the quote, making sure it covers the following:

• Design briefs
• Technical plans
• Building assessment
• Project management
• Material delivery
• Construction

With a comprehensive quote, the company can budget for the whole project effectively and never fall victim to sudden increases in the final costs.

A Design That Matches the Branding

The new office design should match the brand colors, appearance, culture, values, and vision of the company. It should be an extension of other marketing and advertising materials. That way, the clients get the same impression when they walk into the office, read the brochures, browse the company’s website, or visit its social media pages.

Efficiency of the Service System Designs

Design the fit-out in a way that different systems within the workplace operate efficiently to match the staffs’ needs (including reliable AC system for optimal office temperature, adequate lighting system, enough sockets, and so on).

Here are some systems to consider before finalizing the layout with the designer:

• The type of data cabling required
• Lighting and lux levels
• Position of power outlets and switches
• Number of data points required
• Number of power outlets required
• Air conditioning units
• Air conditioning to server rooms and server racks
• Ventilation, the position of mechanical registers, and return air grills

Talk to the employees to ensure you have all the crucial information about the commercial space.

Migrate IT and Telecoms

Communication necessities such as the internet and telephone can greatly get disrupted when moving from one workplace to another. Depending on the business, any slight communication disruption may result in inconveniencing or losing several clients.

This can be avoided by hiring a reliable fit-out specialist to create a solid migration plan for the communication system. A seamless migration process ensures that clients can email, text, or call even when the business is moving into new offices.

Legal Compliance of the New Space

The new design has to comply with all government requirements, which cover areas such as:

• Fire alarm and extinguishers
• Safe electrical setups
• Ample working space
• Efficient and comfortable working environment
• Health and hygiene

Compliance with the above lowers the risk of illnesses, injuries, and accidents to the employees. The company also avoids unnecessary lawsuits .

Built-in Opportunity to Expand the Space

Though not always possible, it’s important to design an office that’ll allow more equipment and furniture to accommodate more clients as the business expands in the future. With room for expansion, the business avoids the need to relocate, saving more money.

Commercial Fit-Out Steps to Follow

The whole fit-out process may be daunting. It requires the input of both employees and construction and design experts. Utilize the following steps when fitting out a new business space:

Select the Fit-Out Team

Choose the right people within the business to manage and oversee the fit-out project. For this project, pick individuals who are organized, creative, good with numbers, and able to make decisions. With the team:

• Determine what will work in the workspace and what’s right for the employees
• Set and communicate the budget
• Establish how much space is needed
• Make contingency for future growth and expansion where necessary

Ideally, the team members should be from different departments of the company to ensure the fit-out project caters to everyone’s needs in the new space.

Building Search and Appraisal

If the business has to choose between staying in the current building or moving somewhere else, consult widely to make a more beneficial choice. Staying could be more affordable, but moving out might offer more opportunities for future growth and expansion.

If looking for a new or more suitable commercial space, choose a highly recommended property agent to assist you.

Engage a Legal Team

This team will not only help you to compare leases and start the negotiation process but also be in charge of finalizing the old lease if the business is moving out . They will also take care of all other legal requirements of the project.

Choose a Relocation or Fit Out Partner

Research, evaluate, and select the best relocation or fit-out company for the project. Since it’s difficult to juggle multiple suppliers, ensure the selected fit-out partner can offer every service the business needs.

Design Development

Discuss with the office interior designer and finalize the design and scope of work for quoting. While at it, communicate all the needs including branding and efficiency of operations.

Carry Out Pre-construction Planning

The business still has to run even when the project will be taking place. Discuss and plan with the fit-out partner on how there will be minimal disruptions.

Start the Fit-Out Process

Once the fit-out process begins, maintain communication with the team such that any change of plan can get implemented effectively.

Dilapidations

If moving to a new place, the previous building management will most likely require the business to leave the space as it was initially. So, plan with your fit-out partner to have this implemented too.

When ready to move to the new office, hire a reputable company to make the migration process as seamless as possible. That’s why choosing an all-round fit-out company that can offer all the services, including migration, is important during the initial stages of the project.

Ongoing Maintenance

Once the business moves, ensure the fire systems, hydraulic systems, security systems, and so on are in excellent condition. Any necessary adjustment required after moving in can always take place during maintenance.

8 Fit-Out Mistakes You Should Avoid

Fitting out requires a lot of patience and attention to detail. The following are some of the fit-out mistakes that many businesses make:

1. Rushing Through Planning

Skipping or rushing through the planning stage will result in a poorly done fit-out which is a waste of money and time. It’ll be prone to structural setbacks and the need for regular refurbishment.

Get a fit-out expert to do the planning for the best results. They’ll make use of the limited space and stretch the budget, without compromising on the quality.

2. Dysfunctional Layout Design

Work with a layout plan that incorporates both the present and future plans of the business.

Envision the office, not from an individual point of view, but that of the employees and visitors. Think of the needs of your business and create a presentable outlook and a pleasant working environment.

Aim at creating a dynamic, professional, and functional space by attending to every aspect of the office needs. Besides the working area, don’t forget about the space and access to the conference room, reception, and break room.

3. Inappropriate Budgeting

Creating a comprehensive budget is a priority to businesses seeking to improve their fit-out.

Determine your financial blueprint and work within its limits. The aim is to achieve a cost-efficient fit-out that makes provisions for unexpected changes in price and other factors. Get a fit-out expert to help you with the budgeting.

4. Failing to Consider Future Business Plans

Ensure the fit-out design can accommodate future expansion needs. Instead of permanent wall fixtures, business owners could consider contemporary designs for their offices.

Additionally, share the long-term corporate plans with the fit-out expert and ensure they incorporate it into their designs.

5. Replicating Other Office Designs

Getting inspiration from other fit-out designs is fine. However, replicating it may not bring out the same aura, especially if the businesses are in different sectors.

Incorporate the company’s core values, goals, and achievements on the fit-out design to stand out from the competition.

6. Assuming the Landlord

Not being fully acquainted with the landlord’s regulations and restrictions could negatively impact the project costs and duration. Restrictions such as operating during specific working hours could significantly affect the project’s progress.

Before starting the fit-out project, discuss the designs and other project details with the landlord or their representative. Make sure there’s an agreement on how the project will be conducted.

7. Inadequate Lighting and Airflow

Staying in a poorly lit room with insufficient ventilation could negatively affect a person’s health . Consequently, exposing employees to poorly lit rooms with inadequate airflow hinders their productivity and performance.

A good fit-out design should incorporate the use of large windows to allow sufficient airflow and natural light. Additionally, the fit-out expert should be able to advise on other environmentally friendly designs for the office. This will help attract clients and save energy.

8. Not Consulting Employees

Since employees spend most of their time in the office, it’s vital to keep them in mind when coming up with the fit-out design. Consult them on what to include and what to prioritize on the design.

Find a Good Fit-Out Construction Company for the Best Results

A fit-out can make or break a business. It ensures that systems are working efficiently, employees are productive, and customers enjoy the ambiance in the business premises.

This is not a simple renovation – it’s the image the business portrays to the public. As a result, be sure to set aside a reasonable budget for this project for the best results.

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Fit-Out in Construction: Tailoring Spaces to Meet Specific Needs

Table of contents, introduction.

In the construction industry, the term “fit-out” refers to the process of making interior spaces suitable for occupation by completing the necessary finishes, fixtures, and furnishings. It is a crucial phase in the development of commercial and residential properties, as it involves transforming a bare shell into a functional and aesthetically pleasing environment. This article explores the concept of fit-out in construction, its different types, and the importance of careful planning and execution in achieving successful fit-out projects.

Understanding the Fit-Out Process

Types of fit-outs.

Fit-outs can be categorized into several types based on the extent of work required:

• Shell and Core: Involves the completion of basic building infrastructure, including the main structure, cladding, and external works.
• Category A (Cat A): Includes basic finishes and installations such as raised floors, suspended ceilings, and basic mechanical and electrical services.
• Category B (Cat B): Involves the customization of the space to meet the specific requirements of the occupant, including final finishes, partitions, furniture, and equipment.

Stages of Fit-Out

The fit-out process typically involves several stages, from initial planning and design to construction and final handover. This includes:

• Design and Planning: Developing detailed plans and specifications that align with the client’s needs and budget.
• Construction: Executing the fit-out work according to the approved designs, including the installation of finishes, fixtures, and systems.
• Commissioning and Handover: Ensuring that all installations are functioning correctly and that the space is ready for occupation.

The Importance of Fit-Out in Construction

Customization and functionality.

A well-executed fit-out allows for the customization of spaces to meet the specific needs and preferences of the occupants. It ensures that the space is not only visually appealing but also functional and conducive to the intended use, whether it be an office, retail store, or residential unit.

Enhancing Property Value

Investing in a high-quality fit-out can significantly enhance the value of a property. It can attract tenants or buyers, generate higher rental or sale prices, and contribute to the overall marketability of the space.

Fit-out is an essential component of the construction process, as it transforms empty spaces into functional and personalized environments. Whether it’s a Cat A or Cat B fit-out, careful planning, design, and execution are crucial to achieving a successful outcome. By tailoring spaces to meet specific needs, fit-out projects not only enhance the functionality and aesthetics of interior spaces but also add value to the property, making them a key consideration in the construction and development of commercial and residential properties.

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Fit-Outs: Various Types And Construction Process

Fit-out describes the steps to get an indoor area ready for use. The extent of interior remodelling (or "fitting out") is typically left up to the tenants of newly constructed commercial buildings.

Fit-outs allow businesses to visualise and plan the final look of their locations. Floor and ceiling installations, wall construction, and furniture assembly are all examples of fit-out tasks. Cabling, internet access, wiring, and communication systems are all examples of building services that may be included in the fitting-out process.

Difference Between Fit-Out And Renovation

Renovation and Fit-Out are two terms that could be easily mistaken for one another. Both phrases refer to related concepts but are used for different goals and involve different actions.

Renovating is the process of repairing a previously occupied building so it can be used again. It's necessary when an occupied location loses its relevance and functionality over time. 

Alterations can be both functional and aesthetically pleasing. Some examples of things that could be updated are the flooring, the lighting, the paint, the plumbing, the electrical outlets, the furniture, and the decorations.

Fit-Out refers to enhancing the usability of a place that is otherwise ready for occupancy. Adapting the brand-new building's interior to the needs of its commercial tenants is essential. Window and door fixtures, furniture, electrical services, flooring, internet connectivity, wiring, and brand identity might be installed throughout the Fit-Out process.

Different Types Of Fit-Out

Fit-Outs fall into one of three broad categories depending on the state of construction of the building and the tenant's desired interior specifications.

Shell And Core

The shell and core of a building are the first part of the Fit-Out process, typically completed by the landlord's contractor. Construction refers to making a building's fundamental structural elements instead of its interior fittings. The following elements make up both the shell and the core:

• The Basic and Organisational Structure
• External cladding
• External Work and Envelope
• Primary plant
• Finished public spaces like restrooms, lobbies, and receptions
• Ramps, elevators, and parking lots
• Landscaping
• Walkways and Barricades
• Fire, electrical, plumbing, and mechanical safety

The developer constructs the shell, and the tenant makes necessary modifications to suit their needs.

Cat A is the second phase of the Fit-Out process, after Shell and Core, and it entails finishing the rented space to an acceptable level. In other words, you're starting from scratch by installing only the bare necessities. The landlord, engineer, tenant, and local code reviewers work together to have the space ready for the tenant to move in. Tenant Improvements (TIs) are the work they do during the Fit-Out process. The following items are typically installed as part of Cat A:

• Exposed or Suspended Ceilings
• Main Distribution of Power to Every Floor
• Suspended or Recessed Lighting
• Higher Access Floors
• Air Conditioning
• Completely decorated and lined perimeter walls
• Standard Interior Finishes
• Simple Systems for Fire and Protection
• Fundamental Electrical and Mechanical Services

All of these steps are necessary before the house may be fully furnished. Cat A Fit-Out may be carried up in full or in part by the landlord or developer, depending on the complexity of the tenant's needs.

Cat B is the final phase of the Fit-Out, and it entails finishing the Fit-Out of the interior space to the tenant's specifications. The aesthetic design fit-out phase, or Category B, is when all the finishing touches are added, and the space is added to the code. Adding dividers, conference rooms, foyers, kitchens, and furnishings allows for customisation. Cat B is frequently misunderstood as a form of remodelling. However, its main parts are things like:

• Partitioning
• Finishes for Doors and Floors
• Fully equipped kitchens and joinery
• Furniture and Workstations
• Conference and Meeting Spaces
• Breakout Areas
• Particular Lighting
• Technology & Audio Visual Hardware
• Branding elements, including signage and specialist finishes
• Modifications to Cat A Mechanical Designs
• Detailing of Design

The Category B Fit-Out process needs to be carried out considering the organisation's established norms, values, and procedures. Your brand's image is being formed at this point, so put your best creative and managerial foot forward.

A Comprehensive Guide To Fit-Out Construction Procedures

Activities before construction.

For any building project to succeed, the groundwork laid in the pre-construction phase must be solid. At this point, the focus is on providing the business owner and the service provider with a trustworthy and comprehensive data source. Data of this nature enables the project team to make informed judgements on the services' timeliness, cost, and quality.

Space Plans, Interior Design, And Site Inspection

These pre-construction processes will aid in implementing realistic timelines, budgeting, and planned structures of the property by providing insight into the constraints of the project. These procedures include looking at the site itself, figuring out how to deal with garbage, checking on the current infrastructure, and reviewing the building codes. This is done before any construction begins so that everyone involved knows the project has a good chance of being safe and fulfilling its intended purpose.

The planning and design of physical spaces will also occur here. One of the best chances to affect and gratify the building's occupants lies in its design. Thus, it's important to focus on perfecting it. Functional features require thoughtful space division and layout. In this stage, professionals review and evaluate the plan's practicality on the project during design coordination meetings with consultants. As more specifications are created during these discussions, time and money are optimised as the process progresses.

Finances, Licences, And Permits

To prevent financial loss, cost overruns, overpaying, and the inability to execute the project, the project team and the clients should carefully consider determining the probable fit-out construction cost. These numbers help define how far we can go financially without going over our heads. They are also a foundation for contractors to base their bids on. 

These tasks may include but are not limited to, commissioning, assembling a design team, defining specifications, obtaining bids, creating a design, and finalising a contract.

The construction process can only move on with the required permits and licences. Permits for everything from building construction to plumbing, water use, electricity, emergency management, and safety are frequently required.

Activities During Construction 

The building process has now reached the "work" phase. Timelines for each step of the process and necessary permissions must be included in the contractor-provided schedule.

Meetings, Supervision, And Actual Work

In addition, holding regular meetings can facilitate open dialogue between all stakeholders discussing the construction process's current state. Site development, design-related issues, health and safety, and other concerns will be reviewed during these gatherings to ensure a smooth construction process.

Electrical, cabling, mechanical, plumbing, sanitary, drainage, and fire safety services are all part of what fit-out companies do during this stage. Appointed staff will regularly monitor the construction site to ensure the project is on track for a timely completion.

Construction And Architectural Projects

Architectural interiors such as walls, floors, ceilings, and accent systems are installed as part of this procedure.

Included are the provision and installation of an array of electrical components such as lighting fixtures, power outlets, and wiring.

Mechanical 

All mechanical configuration and ancillary services are included, as well as the supply and installation of air cooling equipment and the relocation of existing systems.

Structured Cabling 

Voice and data nodes, wireless Internet, and equipment terminations are all examples of the IT infrastructure that can be supplied and set up for a business.

Sanitary And Plumbing

Wet-point plumbing, drain, including water supply, and vent.

Fire Safety

Covering the building with all necessary fire safety and alarm systems.

Auxiliary Works

In this stage, auxiliary tasks connected to principal crafts are applied to assist the functioning of the offices.

Furnishing Works

Includes steps including obtaining interior design criteria, creating a place for the client's branding, creating architectural interiors, and supplying furniture and accent items according to the client's preferences to create a comfortable and functional working environment.

Activities After Construction

Payment Settlement

All outstanding bills, including those for construction-related alterations, utilities, and administration, must be paid in full before the building can be used. Those bills must be paid as soon as possible after work is finished.

Blueprints As-Built And Occupancy Permits

Final paperwork and occupancy permits are handled. The purpose of these surveys is to catalogue the features of the finished structure for later use and comparison with the blueprints.

Commissioning And Testing

Testing and commissioning aim to identify problems with the office's infrastructure, most notably with the installed machinery and tools. Before handing over the keys, it's important to ensure the workplace is in good order.

Site Turn-Over

The construction is complete at this point, and the project is handed off to the operations and maintenance staff so the occupants can use it.

The customer receives a one-year guarantee on service.

The installation and maintenance of a functional structure is a significant business transformation. Workplaces must adapt to the changing economic climate by investing in the tools and technology employees need to do their jobs effectively. Make today the day you start working with a fit-out contractor to create a spectacular interior for your place of business.

Fit-Out Mistakes To Avoid

Fitting out calls for meticulous planning and hours of labour. Some common missteps that firms make throughout the fit-out process include:

Quick Preparation

Ignoring or hurrying the planning stage will lead to a badly executed fit-out, squandering financial resources and time. It will require frequent renovations and is vulnerable to structural setbacks. For the greatest outcomes, get the planning done by a fit-out specialist. Without sacrificing quality, they will stretch the budget and make the most of the little available space.

Unusual Layout Concepts

Use a floor plan that considers the company's current and future needs. Imagine the workplace from the employees' and visitors' perspectives rather than your own. Create a professional appearance and a relaxing workplace space by considering your business needs. Create a stimulating, expert, and practical workplace by seeing every detail. Consider the availability of space in the meeting room, cafeteria, lobby, and office.

Inadequate Financial Planning

Businesses who want to upgrade their fit-out should focus on developing a detailed financial plan. Get a handle on your budget and stick to it. The goal is a cost-effective renovation that accounts for the possibility of unforeseen increases or decreases in certain variables. Consult a professional fit-out company for budget advice.

Disregarding Future Business Plans

Make sure there's room for growth in the layout you create for the fit-out. Modern designs offer an alternative to installing fixed wall fixtures, which could be an option for business owners.

In addition, you should brief the fit-out specialist on the company's long-term goals and objectives and see to it that they factor into the final designs.

Copying Other Office Designs

It's acceptable to draw ideas from other interior design fit-outs. However, a carbon copy wouldn't have the same impact if the businesses were in different industries. Make the fit-out design reflect the company's mission, values, and successes to differentiate yourself from competitors.

Assuming The Landlord

It could increase the time and money needed to complete the project if you need to become more familiar with the landlord's rules and requirements. The project's development may be adversely affected by constraints such as operating only during normal business hours.

Before beginning construction, please consult with the landlord or their representative on the fit-out plans. Get everyone on the same page about how to complete the job.

Insufficient Airflow And Lighting

A person's health could suffer if they stayed in a room without proper lighting and air circulation. Consequently, putting workers in low-quality lighting and ventilation reduces their efficiency and effectiveness. Large windows are essential for optimal ventilation and lighting in any fit-out design. The fit-out specialist should also have suggestions for additional eco-friendly workplace concepts. Customers will be attracted, and energy will be conserved.

Employees Not Consulted

Most of a person's working life is spent in an office. Thus, it's important to design with them in mind. Discuss the design's features and priorities with them.

Fit-outs are the steps that are taken to get an indoor space ready for use. Tenants of newly built commercial buildings are usually in charge of these steps. They help businesses see and plan how their spaces will look when they're finished, including putting in floors and ceilings, building walls, and putting together furniture. The process can be split into three broad categories: Shell and Core, Category A, and Category B.

In Shell and Core, the landlord's contractor builds the shell, and in Category A, the rented room is finished to a satisfactory level. During the Fit-Out process, work called Tenant Improvements (TIs) is done. TIs include things like exposed or suspended ceilings, main power to every floor, suspended or recessed lighting, higher access floors, air conditioning, fully decorated perimeter walls, standard interior finishes, simple fire and safety systems, and basic electrical and mechanical services.

Category B is the last part of the Fit-Out process. It includes putting the finishing touches and the tenant's requirements. Partitioning, finishes for floors and doors, fully equipped kitchens and joinery, furniture and workstations, conference and meeting rooms, breakout areas, special lighting, technology and audiovisual hardware, branding elements, changes to Cat A mechanical designs, and design details are all part of this.

During the pre-construction phase, you give the business owner and service provider accurate and complete information that they can use to make smart decisions about the services' quality, cost, and speed. Space plans, interior design, and site inspections are all very important for making sure that realistic timelines, budgets, and planned building structures are followed. Planning and designing physical places is also very important. During meetings with consultants to coordinate the design, professionals look over the plan and decide if it is practical.

During the building phase, fit-out companies do many things, such as mechanical, electrical, plumbing, sewage, drainage, and fire safety services. A smooth building process is ensured by regular meetings and supervision. Fit-out companies install architectural interiors, electrical components, mechanical configuration, structured cabling, sanitary and plumbing, fire safety, auxiliary works, and finishing works.

After the building is done, any outstanding bills must be paid, blueprints must be taken care of, and occupancy permits must be collected. Before handing over the keys, testing and commissioning are done to find any problems with the office's equipment. When the project is turned over to operations and support staff, it is called "site turnover," and the customer is given a one-year guarantee.

Fit-out is a big change for businesses, and they need to make sure their workers have the tools and tech they need to do their jobs well. During the fit-out process, mistakes to avoid include not planning ahead enough, rushing through the process, coming up with strange layout ideas, not planning your finances well enough, not thinking about your future business plans, copying other office designs, assuming the landlord, not giving the space enough air flow and lighting, and not talking to your workers.

Businesses should carefully plan their layouts, make specific financial plans, think about their future business plans, avoid copying other office designs, talk to the landlord or their representative, and make sure there is enough lighting and airflow. Businesses can make a flexible and useful workplace that reacts to the changing economy by working with a fit-out contractor.

Content Summary

• Fit-out transforms an indoor space, making it ready for use.
• Fit-out tasks include wall construction, ceiling installations, and furniture assembly.
• Fit-outs also encompass cabling, internet access, and communication systems.
• Renovation restores a previously used building, whereas fit-out prepares a new one.
• Flooring, lighting, and paint are common renovation elements.
• Fit-out enhances a location's usability, adapting new interiors for commercial tenants.
• Fit-out processes involve window and door fixtures, wiring, and brand identity.
• Fit-outs can be categorised into Shell and Core, Category A, and Category B.
• Shell and Core involve basic structural elements and external work.
• Elements in Shell and Core include fire safety, walkways, elevators, and parking.
• Category A Fit-Out prepares the rented space with basic amenities.
• Cat A incorporates air conditioning, fire systems, and power distribution.
• Category B Fit-Out is about interior aesthetics and customisation.
• Cat B includes partitioning, fully-equipped kitchens, and technology installations.
• Category B also focuses on branding elements and architectural detailing.
• Pre-construction phase sets the foundation for successful fit-out.
• Pre-construction includes site inspections, space plans, and interior design.
• Practical space division and layout are critical in the design stages.
• Determining probable fit-out costs is essential for budgeting.
• All required permits and licences are essential for construction progression.
• Activities during construction involve supervision, meetings, and actual work.
• Fit-out companies handle electrical, cabling, mechanical, and plumbing during construction.
• Architectural interiors, like walls and floors, are installed during this phase.
• The electrical component involves lighting fixtures and power outlets.
• Mechanical aspects cover air cooling equipment and systems' relocation.
• Structured cabling addresses IT infrastructure needs, such as wireless internet.
• Sanitary and plumbing tasks focus on water supply and drainage.
• Fire safety ensures the building is equipped with alarm systems.
• Furnishing works bring out interior design criteria and architectural interiors.
• Activities post-construction involve payment settlements and warranty provisions.
• As-built blueprints and occupancy permits are essential paperwork.
• Testing identifies potential issues with installed machinery and tools.
• Site turnover indicates the completion of the construction phase.
• Fit-out mistakes can lead to structural setbacks and financial losses.
• Hurrying the planning stage might result in a poorly executed fit-out.
• Opt for a functional floor plan that caters to current and future needs.
• A professional appearance boosts employee morale and brand image.
• Inadequate financial planning can escalate renovation costs.
• The fit-out design should accommodate the business's growth and future plans.
• Copying designs from other offices might not resonate with your brand's identity.
• Landlord's requirements are crucial to avoid project delays.
• Ensuring optimal ventilation and lighting is essential for employee well-being.
• Eco-friendly fit-out designs conserve energy and attract customers.
• Consulting employees ensures the design caters to their preferences.
• Fit-outs, when done right, optimise space and boost business productivity.
• Collaborating with a fit-out specialist ensures the best use of space and budget.
• An effective fit-out reflects the company's mission, values, and vision.
• Avoid copying competitors; instead, customise fit-outs for uniqueness.
• Regular consultations and meetings streamline the fit-out construction process.
• Invest in fit-outs to keep workplaces updated with the latest technologies and designs.

Frequently Asked Questions About Fit-Outs

What is fit-out project management.

A fit-out project typically involves renovating or refurbishing the internal areas of the premises to suit your business needs. This would generally involve some construction work that substantially changes the layout of the workspace.

What Is The Difference Between A Fit-Out And A Renovation?

If you recently purchased or leased a space with only basic structural elements or finishes, you need fit-out construction to transform it into a customised office space. You need a renovation project if you own or occupy a finished space that needs a design overhaul.

What Is The Difference Between Base Build And Fitout?

Base construction or 'base build' refers to the works done by speculative office building developers to erect the 'basic' elements. Once the building is let to tenants, they are given responsibility or the fit out of the interior, making interior spaces suitable for occupation.

Why Is Interior Fit-Out Important?

For an office, good design will make it more focused and efficient. When a space is well-designed, it doesn't just look good. Great design goes beyond decorating and luxury furniture to ensure that everything in the room serves a function.

What Is Hard Fitout Vs Soft Fitout?

A fit-out is the process of making an interior space suitable for occupation. A 'hard' fit-out includes walls, joinery, appliances, flooring, data and electrical works, while a 'soft' fit-out typically includes furniture and furnishings.

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7 kinds of software for fit out companies you need to try

29.01.2022 | 5 min read | Written by Alexandra Hasek

Interior fit out companies today are faced with several emerging challenges today. Whether it is the rising price of materials, changing ideas about what office spaces are for, or accommodating new trends in design, adaptation is vital. These challenges are complex, but they become easier to manage when you use software for fit out companies.

By deploying technology that is tailored to the interior fit out industry, running your projects becomes smoother and more efficient. Software for fit out companies can help:

• Avoid unnecessary repeat work
• Improve communication and collaboration across sites
• Reduce unnecessary spend
• Minimise waste

There are many technology businesses providing software for fit out companies. Let’s explore the different software types available to get a feel for what is out there.

Related reading: Find out more about what PlanRadar can do for snagging . 

7 kinds of software for fit out companies

The following seven kinds of software can help businesses that offer interior fit outs with different aspects of their work. We have categorised software for fit out companies according to major themes, and provided examples of brands providing each kind of tech.

Interior design software

Designing interior fit outs was traditionally a paper-based activity. However more and more fit out businesses are using software that allows them to rapidly build up floor plans.

Using design software for fit out companies, you are able to create accurate 2D and 3D models of your floor plan. You can then populate the plan with realistic fixtures and fittings (the software often has libraries of partitions, furniture, flooring and even things like wall art and indoor plants). This software can also generate a BIM model that is used on the site. And some design technologies even generate fully interactive virtual reality environments so customers can explore the design for themselves.

Examples of design software for fit out companies: RoomSketcher , SketchUp , ArchiCAD .

Project management software for fit out companies

If your fit out company is working on multiple projects across several sites with different timeframes and subcontractors, project management software is incredibly helpful. It allows you to track project progress, schedule tasks , manage subcontractors, communicate across sites and do things like snagging . Project management software can also produce handover documentation , and help with aftercare for the client.

Example of project management software for interior fit outs: PlanRadar

Case study: How one fit out company uses software on its projects

Take-off software

Take-off software is very useful when it comes to costing your interior fit outs. Once you have completed a BIM or CAD model of the floor plan, take-off software then analyses the design and provides an estimate of the entire project’s costs for things like wiring, studs, joints, plumbing, flooring, lighting and even labour. This makes producing a quote for interior fit outs a lot faster.

Examples of take-off software: Stack , Square TakeOff , PlanSwift

Suggested reading: The difference between Cat A and Cat B fit outs

Timesheet management

Many office fit out companies will be working with several subcontractors across multiple sites. Relying on paper timesheets to track where all staff are, and how many hours they’ve worked is extremely complex. In other words, this is where timesheet software for fit out companies can help.

The technology allows subcontractors to digitally sign in and out of sites and record working hours reliably and consistently in a single place. That also provides transparency, ensures prompt and fair payment, and reduces potential disputes.

Examples of timesheet management software: Clockify , Hubstaff

When office landlords or tenants contract an office fit out company to refurbish or upgrade their working environment, they often request regular updates on the progress of the project – in terms of completion level, financials, or health and safety reporting .

Traditionally, interior fit out businesses would have to compile all this information manually, but software for fit out companies can automate the process. By reviewing which tasks have been completed, and analysing project spending data, the software can generate reports that are delivered to clients on a regular basis.

Examples of reporting software for fit out companies: PlanRadar

Recommended reading: What makes a great commercial fit out?

Floor plan creation

Interior fit out businesses often refer to the original blueprint of a building when they are working on a new design. But sometimes – and especially in older office buildings – a reliable or accurate blueprint is simply not available (or is not accessible in a digital format).

And this is where modern floor plan creation technologies come in. Using little more than a smartphone camera, this software can quickly build up an accurate estimate for the size of the office space and turn it into a blueprint your designers can start working on.

Examples of floor plan creation: CamToPlan ( Android / iPhone ), magicplan , Locometric .

Equipment and materials management

Interior fit out businesses are often working across multiple sites with equipment and materials in many locations. This can make it difficult to know how much inventory you have and whether you are running low. This is also where tool and material tracking software can help. These apps can provide a real time inventory, so you know exactly where all materials and equipment are currently held and how much of them you have.

Examples of equipment and materials inventory software: SiteSense , Sortly

Are you using software for fit out companies yet?

As the examples above show, there is a growing range of digital technology that interior fit out businesses can use to improve how they work, minimise waste and save time and money. So, which software for fit out companies could work for you?

Keep learning: 7 reasons fit out software is essential for your projects

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Fit-Out Firm Power List 2023: The fit-out firms you need to know this year

The fit-out firm power list shines a light on the companies that bring design projects to life.

Back once more for 2023, the Fit-Out Firm Power List shines a light on the companies that bring incredible design projects to life.

Below, we profile 25 of the region’s leading fit-out firms in alphabetical order.

A&T GROUP INTERIORS

The fit-out and construction works specialists operate in the UAE and Saudi Arabia For more than a decade, A&T has provided premium quality interior fit-out and turnkey solutions, completing more than 300 fit-out projects along the way. Clients include renowned architects, interior designers and hospitality consultants and projects include restaurant, hotel, office, retail and residential properties. A&T operates from Dubai and Riyadh in KSA and has senior management present in both locations. Some major works in the past 12 months have included the new Talabat Regional HQ in Dubai. The futuristic 100,000 sq ft workspace is housed in a three-storey mall building. It’s the largest office in the region, accommodating almost 2,000 employees. The HQ features a futuristic design with a variety of contemporary and functional workspaces that encourage creative development. The fit-out features open spaces, innovation pods, wireless digital walls, and even a vertical-height garden, which are all in line with Talabat’s branding. Delivered in Q4 2022, this project marks an important milestone in Talabat’s expansion of its tech operations and collaborative efforts. At Dubai’s Address Fountain Views, A&T also worked on F.R.N.D.S Grand Café. The 15,000 sq ft restaurant offers a touch of glitz and glamour with a nod to the roaring ‘20s and modern Art Deco-inspired design. It includes extravagant crystal chandeliers, a floating marble table, and a five-metre tall bas-relief carving by world-renowned artist VHILS. Other projects include Eva Beach House on Palm Jumeirah. Designed by Segment Architect & Design, it was furnished with full interior fit-out works by A&T. Spread over 9,200 sq ft, the boho-chic restaurant showcases cream and neutral colors, bespoke decorative lighting, and native-style wooden accents. Meanwhile, the new Ecos Hotel in Al Furjan is a 30,000 sq ft property with 314 guest rooms, an all-day dining spot, a rooftop pool, a gym, a laundry room, business hubs and a dedicated coffee bar. A&T successfully aligned the client’s budget with their practicality concerns and delivered a visually dynamic ambience. Tareq Khalafawi, CEO and co-founder, said: “A&T experienced great success in 2022 by forging long-term relationships with our suppliers and clients. Our top priority is to ensure that we meet and exceed our client’s expectations by working collaboratively with them as partners to achieve successful project outcomes. We approach challenges and obstacles as opportunities to grow and learn.As a company, we firmly believe that our people are our greatest assets. We focus on investing in human capital, as we seek out talented individuals who can contribute to the company’s growth and success. At the same time, we are vigorously expanding our operations in Saudi Arabia by establishing a competent team and seeking long-term partnerships to ensure continued success.” Looking forward, the Group is working on two exciting hospitality projects. The two beach clubs promise to “offer an unparalleled experience to visitors” and Khalafawi is excited to be a part of the projects that he says will set a new benchmark for beach clubs in Dubai. He added: “With our expertise and attention to detail, we are confident that these beach clubs will become the go-to destination for those who seek a luxurious and unforgettable experience in Dubai.” 804 API World Tower, Sheikh Zayed Road, PO Box 184432, Dubai, [email protected], www.atginteriors.com , (+971 4 396 4121).

AL TAYER STOCKS

The fit-out firm behind Museum of the Future, Al Tayer has helped bring to life what many call the world’s most beautiful building. Al Tayer, then, had a lot to live up to ensuring the interior followed suit. Since being established in 1998, Al Tayer has maintained continual growth, with zero debt. Its Abu Dhabi HQ is set for expansion and the company is also looking to Saudi Arabia, being prequalified with all the major development companies. The Kingdom’s entertainment sector will be its initial focus, as well as blue-chip commercial office fit-outs.

ALEC FITOUT

ALEC FITOUT, a part of the ALEC Group, specialises in the fit-out and refurbishment of five-star hotels and resorts, cultural, immersive, and luxury mixed-use developments in the MENA region. In 2023, Saudi Arabia will be a major focus market for ALEC FITOUT, with the company currently working on large-scale projects in the country. Following the success of the Saudi Arabia Pavilion at Expo 2020, the company is wel-placed to succeed in Saudi. There is also a continued focus on fit-out markets in Qatar and Egypt.

ARKI Group comprises a range of different business, from being a glass supplier, to flooring, to a long-standing fit-out firm as well. ARKI has been around since 1998, based in the UAE and spending that time understanding the demands of the market. With a keen commitment to sustainability and a firm understanding of client demands, ARKI has successfully delivered projects such as Emirates NBD at Expo Dubai and the rather futuristic looking Emirates NBD within Emirates Towers.

Baumat is a huge player in Saudi Arabia, employing more than 1,400 staff directly, with more than 2,000 taking into account manpower suppliers.

The firm is known to be a complete design and fit-out firm that completes fast-track projects in record time, thanks to a dynamic and flexible company workflow structure. However, Baumat never strays away from its core values and principles of high quality, durability, and attention to detail.

Baumat is a strategic partner to several holding groups in Saudi Arabia and has recently handed over several commercial projects, such as Muvi Cinemas and The St. Regis hotel in Riyadh, as well as government projects, many of which are highly confidential.

One of the high-profile projects coming up in 2023 is a state-of-the-art rehab and long-term care facility hospital in Al Ahsa compromising around 300 rooms.

BW INTERIORS

BW Interiors is a well-established interior fit-out contractor operating in the GCC Region, with offices in Dubai and Abu Dhabi. The firm’s market-leading status is endorsed by the repeat business the company wins, as well as the industry awards they have achieved. The firm specialises in all types of interior fit out works, some of which are fully LEED certified, including hotels, restaurants, corporate offices, banks, airports, retail and commercial projects. BW has also expanded production facilities for export of bespoke joinery to Europe and the surrounding regions. One of the few companies to have its own joinery, marble and stone, electromechanical, glass and aluminium, metal works and upholstery divisions. Each division is able to produce its own drawings through their respective AutoCAD departments, which means the firm can maintain complete control over supply chain, program execution and quality standards alike. Managing Director Michael Melnick said: “I am extremely proud and congratulate the success of our team’s achievements during 2022. All our business targets and KPI’s were far exceeded which is testament to the trust and loyalty of our clients as well as the dedication, loyalty and hard work of our staff. In addition to this, we are very happy to welcome our Projects Director, Mike Whitworth, into the BW family who has proven to be a valuable asset to our management team. “Some significant achievements has been the delivery of several marquee F&B venues, least of which was the relocation of the world-famous Nobu restaurant from the ground floor to the top floor presidential suite at Atlantis, The Palm. The project included structural changes to the façade of the building, as well as the complete fit-out to the new Nobu standards, which has been highly endorsed by chef Nobu Matsuhisa himself. “Other projects include the execution of Josette at ICD Brookfield Place, Chic Nonna at the Index Tower end of the DIFC Boardwalk, Mayabay at Jumeirah Al Naseem, as well as several prestigious commercial and residential projects during the course of the year. Another significant achievement is our newly formed relationship with the Dubai Future Foundations for works at the Museum of the Future, amongst other projects they have commissioned us to execute. “With regards staff, we are pleased to be in the enviable position of being able to have had a full staff review where several promotions were made. A notable introduction to our operations has been to introduce yearly mental health workshops held by qualified professionals to engage with our labour ensuring that the difficulties that are sometimes experienced when working far from home are minimised. “Our investment in our staff’s progression and well-being is of paramount interest and importance to me personally and will continue into the future. “Our goals for next year are simple. We aim to continue to set the bar for quality execution of complex and bespoke projects whilst focusing on quality rather than quantity, all the while taking care of the well-being of our staff, all of whom we consider to be part of the BW family.” Other exciting work in 2022 included the refurbishment of COYA Dubai, the Spotify office expansion in Dubai Media City, LMR Partners Office in ICD Brookfield Place and ManCorp head office, Boulevard Plaza, Downtown Dubai, as well as some refurbishments at the Museum of the Future. Notable projects coming up in 2023 include the Carousel Bar, French and Japanese Restaurants at the upcoming Five Luxe Hotel in Dubai’s JBR, The Guild at ICD Brookfield Place, Millennium Capital Office, also at ICD Brookfield Place, Penthouse at the Burj Khalifa, among several others. BW Building, 3A Street, Al Quoz Industrial Area 1, PO Box 392871, Dubai, [email protected], www.bwinteriors.ae (04 339 2911).

One of the world’s leading providers of interior solutions, depa operates across the globe, delivering iconic projects such as the UAE’s Burj Al Arab, Burj Khalifa, Atlantis the Palm and Dubai Opera House.

Employing thousands of people worldwide, the firm has manufacturing facilities in Germany, Singapore, Egypt, UAE, Malaysia and China.

depa is also a multiple Commercial Interior Design Award-winner.

Since the interiors market has picked up after Covid, Emkay is embracing the new norms of expansion as the company ventures into different sectors in high-end luxury fit-out projects and. Success is a series of small wins and this was the pattern that Emkay started back in 2004 with a handful of projects efficiently completed one after the other. This led to an increasing number of satisfied clients and today, after 19 years of service in the interior contracting industry, Emkay stands strong with more than hundreds of reputed projects across the UAE and GCC. Michel Joseph Khoury heads up the firm as its managing director and Emkay has offices in Dubai’s Business Bay neighbourhood.

DESIGNSMITH

Designsmith is one of the most respected fit-out firms in the region, with more than 35 years of experience in the sector and more than 500 skilled artisans, project managers and enginners in the workforce. Operating out of a a headquarters in Dubai’s Al Quoz, the firm designs and builds projects for residential, F&B, retail, hospitality, corporate and wellness projects. Over the past year, Designsmith has worked on big projects such as the corporate office for the DFSA in DIFC, burger brand Pickl’s outlet in Sharjah and the Beauty for Less spa and salon in Dubai Green Community. Dhaval Sanganee, Designsmith’s CEO, said: “Our team has sucessfully delivered some of the most challenging projects partially because of the scale of operations and the unique solutions our growing team brings to the table. “We have also always consciously tried to include new material, technology and automated systems to our fitout projects to continue to push the boundaries on bringing these design to life.” Some exciting projects coming up include new contemporary Indian fine-dining restaurant Atrangi in the Jumeirah Al Qasr hotel and a health and wellness provider Kinesis Clinic in Emirates Hills. Sanganee added: “We are very proud of our growth in the last couple of years; the fit-out division of the studio has delivered some of the most innovative, challenging, and sustainable projects in the F&B, retail, hospitality and residential sectors. “The next growth phase will see us moving into a 200,000 sq ft factory and workspace in Al Quoz, the first of its kind in the UAE, with our build, joinery and furniture verticals under one roof. “Personally, it’s been so fulfilling and rewarding to see our fitout operations grow year on year. Now, more than ever, spaces reflect the brands or emotions they house and that’s how I see our scope of work; not just building spaces but delivering a unique client experience in each project.” Street 10, Al Quoz 1, Dubai, [email protected], www.designsmith.ae (050 762 1383).

DESIGN INFINITY

Specialising in interior turnkey fit-out, Design Infinity was established in Dubai in 2012. The company is owned and operated by a highly-experienced team of interiors specialists, who plan, design and build commercial interiors that are imaginative, practical and provide great value for all of its clients. Operating across the whole of the UAE, with plans to expand regionally, Design Infinity is run by managing partners Pratap Mendonca and Geetha Nayak and now has a team of more than 700. Over the past 12 months, the company has executed several successful projects across a range of industries. Highlights include projects for software firm Odoo, Saudi National Bank Headquarters, Thai restaurant Thiptara, telecom firm Airtel and many more. There have been other innovations, too. Design Infinity now offers complimentary LEED certification to clients and has established new signage, upholstery and lighting divisions. Design Infinity also offers two-year DLP (Defects Liability Period) to its clients and is the first interior design company in UAE to achieve Superbrand status. Mendonca said: “There were numerous achievements last year. We are the first interior company to offer complimentary LEED Certification for clients. “We also moved to a bigger joinery factory and started our own signage, upholstery and lighting division, and became the authorised dealer of furniture from The Global Furniture Group – Canada. We will now look at doing the same in other GCC countries.” Fellow managing partner Nayak added: “We are thankful for the accomplishments of Design Infinity. We added three more offices to our Dubai premises, our team strength rose to more than 700, and our goal is to increase our commitment towards sustainability. ’’ Ongoing high-profile projects for Design Infinity include work with Accor, Emaar Happiness Centre, DIFC, TECOM and the Central Bank of UAE, among others. Health and safety is of utmost importance to the organisation and the company has strong health, safety, quality and environment policies and practices in place. Hamsah Complex, O Block, Karama, design-infinity.com (04 379 5902).

Founded in Italy in 1969, Finasi has a long-lasting tradition in the world of interiors and a passion for delivering high-quality projects. Finasi in the UAE is part of the Gargash group of companies and is recognised as a turnkey solution provider for homeowners, designers, architects and developers. Finasi is expanding its joinery and metal workshops by double the size, and growing its design and build team to cater to the increased demand in the fit-out segment. The company is also expanding in East Africa with an office in Kampala to cater to the demand in the hospitality sector for joinery and furniture supplies. Meanwhile, Finasi’s Milan office is expected to grow in numbers as the company is expanding its reach with suppliers.

HAVELOCK ONE INTERIORS

Since 1998, Havelock One Interiors has established itself as a fit-out contractor and manufacturer of high-quality joinery, metal works, furniture and shop-fittings in the Middle East. It has operations across all GCC countries, covering seven offices and two factories in five markets – Bahrain, Kuwait, Qatar, Saudi Arabia and the UAE. Projects in the immediate future include Jumeirah and Raffles Hotels in Bahrain; Grand Hayat Hotel in Kuwait; Aquarium in Marassi Bahrain; Duty-Free Shopping headquarters in Abu Dhabi, as well as Burberry and Dolce & Gabbana stores in Qatar. The company also has several ongoing projects in Saudi, where it has just expanded its Riyadh office space to cover 806 sq m and relocated a few core team members to the capital to further improve its presence and service delivery in KSA.

HORTON INTERIORS

Established in 2012, Horton Interiors has rapidly grow over a decade andm in 2022, appointmented a new management team headed by managing director Douglas Drummond. Supporting his leadership are key executives, Abdelmouamine Bougandoura as operations director and Jerry George as finance manager. Business-wise, in the last 12 months, Horton Interiors has increased in size and turnover and has diversified its portfolio, which now includes education, healthcare, sporting facilities, residential, F&B, and corporate workplace projects.

INC SOLUTIONS

INC Solutions operates in three markets including the UAE, Saudi Arabia, and South Africa, with the hub of the Group located in Dubai. When it comes to design, the firm specialises in creating unique and innovative designs for hospitality, corporate, and commercial industries. INC Solutions have an in-house design team that works closely with clients to understand their needs and preferences, creating customised solutions that reflect their brand identity and style. Meanwhile, INC’s construction team and project managers have expertise in transforming empty spaces into functional and aesthetically pleasing environments. Their work involves everything from space planning and layout design to selecting materials, finishes, and furniture that come together to enhance the overall look and feel of the space. The firm also procures all furniture and fixtures directly from carefully chosen manufacturers across the world. INC offers a variety of flexible and cost-effective solutions to their clients that require furniture procurement and IT services. With expertise in end-to-end technology solutions and office interior design, INC adds value to companies of all sizes. The INC teams have long-established relationships with major vendors and can tailor their services to fit any budget, for both start-up and established organisations. Group CEO Sean Nicholson said: “Always delivering to the highest standards, INC’s success and growth over the last 15 years is built on being a united team, delivering work to the highest standards and quality. “Much like the UAE, from modest beginnings, we have grown to become a leader in our field, driven by ambition, hard work, and forward-thinking leadership. Our core values are fundamental to our success and are embedded in every employee from CEO to site supervisor.” INC is working on many exciting projects in the next 12 months. In the UAE there are projects for BNP Paribas at ICD Brookfield Place and AstraZeneca at Dubai Science Park. In Saudi, they include the office for software company Fortinet and the government’s Shareek office. Meanwhile, in South Africa, there’s the Cape Town V&A Waterfront and Pineapple Insurance’s head office.

Building 1, 404 Business Park, Dubai Hills, PO Box 211375 (04 392 9975).

INNER SPACE

Inner Space has been operating in the sector since 2004 and around 90 percent of the firm’s business comes from repeat customers or referrals.

Focusing on value-engineering, sustainability and pandemic protocols, Inner Space prides itself on delivering projects on time and within budget. The company has in-depth knowledge and expertise in transforming spaces for banks, automotive showrooms, broadcasting, public sector, hospitality, and kids’ play areas.

Inner Space is actively planning on expanding its business, particularly into Saudi Arabia and India.

www.innerspace.ae

A global company, ISG is a leading construction specialist also in the world of fit-outs as far as Dubai. One recent UAE job was the fit-out of Micro Suites at ICD Brookfield Place Dubai. The project involves the complete fit-out of two floors of services office spaces in the ICD Brookfield Place Building, one of the prime commercial real estate spaces which opened up in Dubai towards the end of 2020. The floors are split into a number of micro office spaces which are being leased out to various tenants as serviced office spaces.

KHANSAHEB INTERIORS

Khansaheb Interiors, led by general manager Ross Trivett, is a leading UAE contractor with an enviable reputation for high-quality fit-out. Khansaheb Interiors and Joinery has a team of 230 staff and 1,000 highly skilled operatives, along with in-house MEP and metal divisions.

PINNACLE INTERIORS

With Pinnacle Interiors’ commitment to excellence, the firm has been able to reshape the new normal and navigate the new concepts and desires of clients. Operating across the UAE, Pinnacle is able to assess and interpret the latest expectations providing informed decisions on sustainability, bespoke designs, furniture and finishes to effectively enhance a commercial office, a luxury residence, healthcare and retail facility or fine-dining F&B establishment. Pinnacle Interiors also restructures and promotes agile working to enrich exceptional designs, with a workforce providing expertise in sophisticated technology, quality, and elegance.

MOTIF INTERIORS

Motif Interiors is a multidisciplinary design and build company with more than 800 completed projects. The teams that make up the firm are adept at handling everything from concept through to authority approvals, construction and completion. Based on a 1,115 sq m office in Dubai’s Jumeirah Lakes Towers, the company recently celebrated its 10th anniversary. Currently, the team at Motif Interiors is working on a number of projects at Uptown Tower, the new DMCC flagship project near JLT that is due to launch this year.

RAM AND KPS

Founded in Dubai thirty years ago, the far-reaching RAM and KPS Group specialise in interior design and construction work. The Group’s remit includes design, costing, planning and execution in traditional and turnkey projects of every size. RAM and KPS’ expertise runs across a broad range of commercial sectors including offices, innovation hubs, retail, education, healthcare and hospitality. The Group operates across nine different countries and has offices in the UAE, Saudi Arabia, Lebanon, Egypt and France. Notable projects in the past 12 months include the fine-dining restaurant Nozomi in Riyadh and apartments in Al Jaddaf, Dubai. The Nozomi project was for client Al Moajil Hospitality Group, one of the major hospitality groups in Saudi Arabia. Nozomi now has branches in Jeddah and Khobar and Riyadh. The venue is 21,000 square feet over two floors, with 15m-high ceilings and a 23m-long and 14m-high rock wall, as well as an unsupported floating staircase, surrounded by more than 16,000 copper rods, to create a modern stalactite cave entrance. Speaking of the company’s continued progress, Saad Said, Managing Director, RAM Saudi Arabia said: “Successful teams are built and not born.” In Al Jaddaf, the project was for clients Dubai Holding Asset Management on the waterfront opposite Dubai Festival City. Work included demolishing and repurposing empty ground floor retail units within an existing residential property and turning them into 25 stunning one-, two- and three-bedroom apartments. The entire project was 66,000 sq ft and was needed to be completed within a tight timeframe. There were also 150 occupied apartments above the work space, meaning construction access to the location was highly restricted. It meant KPS has to meticulously plan every detail of the project and coordinate with the building owners and residents to schedule the noisy works at set times. To manage it, KPS used robotic demolition rather than traditional, manual demolition to reduce the noise and nuisance factor for existing residents Stephen Taylor, Managing Director, KPS UAE added: “With digitally connected construction, we can make everyone and everything work smarter.” Ram Contracting: 2nd floor, Al Faleh Center, Al Olaya Street, Riyadh, Saudi Arabia, [email protected], ramcc.com (+966 11 464 0949, ext 5060). KPS: Level 12A, Damac Business Tower, Business Bay, Dubai, [email protected] , kpsworld.com (+971 4 423 8100).

SUMMERTOWN INTERIORS

Operating out of Dubai’s Jebel Ali, Summertown Interiors covers the whole of the UAE. The company is celebrating its 25th anniversary, and since opening in 2007 as a wooden trading company, Summertown has transformed into a leading fit-out and design and build commercial contractor, delivering interior solutions for global Fortune 500 companies, government authorities, and local businesses in the corporate, healthcare, and education sectors.

The company was the pioneer fit- out contractor to occupy LEED Gold- certified interiors in the UAE and has also been awarded the LEED Gold certification for its HQ, operations and maintenance (under the LEED EBOM rating system).

One of the notable achievements for Summertown Interiors in 2022 was achieving the WELL Health-Safety Rating, one of a few private sector businesses in the region to earn the seal. The company’s ‘JOURNEY2030’ sustainability goals underscore its commitment to sustainability – the three goals are to are to deliver 100 percent sustainable projects, enhance happiness and wellbeing, and achieve zero waste to landfill.

Marcos Bish, Summertown’s founder and managing director, said: “As we celebrate our 25th anniversary of business, we are immensely proud of our journey and our achievements to date – none of which would have been possible without the support of our clients, suppliers, partners, and dedicated team.

“This year has started positively for Summertown, and we are excited to continue to deliver sustainable interiors in the ‘Year of Sustainability’. Everything we do is underlined by our mission to consistently deliver high-end interior projects on time and within budget, whilst helping companies to achieve their environmental goals, directly resulting in operational savings and a better workspace for employees.”

Over the past 12 months, Summertown has worked on notable projects including LinkedIn’s Middle East & North Africa Headquarters, which saw the refurbishment of two floors of LinkedIn’s MENA headquarters located in Business Central Tower, Dubai. Working closely with SAY studio, CBRE Project Management, and Cundall, Summertown said the fit-out was both challenging and rewarding, with bespoke joinery and creative design elements incorporated.

Summertown’s Matterport 3D scanning technology enabled the LinkedIn team to monitor progress virtually, ensuring a seamless fit-out process. The project met LEED and WELL Gold Certification standards. Meanwhile, The Supreme Council for Motherhood and Childhood (SCMC) design and build project focused on complementing the existing headquarters of the General Women’s Union constructed on the adjacent plot. SCMC’s goal for the 3,500 sq m space was to have a comfortable, harmonious workplace for adults and children. Promoting creativity and excellence in motherhood and childhood, as well as accommodating SCMC’s current team and any future expansion.

This year, there are exciting projects in Dubai and Abu Dhabi for Summertown, including a three-level workplace in the new DMCC tower

in JLT designed by Roar, and a new office for Emirates Development Bank Abu Dhabi. The company’s pipeline of projects includes several healthcare projects for Mediclinic and other global providers. Jebel Ali Free Zone, Dubai, PO Box 262807, [email protected] (04 805 3300).

SPACEWELL INTERIORS

Commercial interior design, fit-out works and furnishing firm Spacewell Interiors had a successful 2022 and is primed for an even better 2023. Operating out of Business Bay in Dubai, with a premises in Abu Dhabi, Spacewell worked on some big projects over the past 12 months, such as Ubisoft’s office in Abu Dhabi, Korn Ferry in Dubai and Mercury Payment, also in Dubai. The rest of the year is filled with projects, too.

SWISS BUREAU INTERIOR DESIGN

Swiss Bureau is a powerhouse of creatives with proven strengths as a general interior contractor. As one of UAE’s leading design and build companies, it has been defining the future of the workplace and its surrounding environment since 2003. Perhaps the most significant highlight to date for the company will be the completion of a 2,322 sq m office for Richemont & Cartier located in ICD Brookfield Place. Further strengthening its commercial and fit-out team, Swiss Bureau is also growing its headcount of quality surveyors, and project managers, and has a new commercial director, Aahad Sayed.

Since the company’s inception in 1987, THE FITOUT has established itself as one of the leading providers of high-end fit-out works. The company is planning to increase engagement with existing, new and prospective clients. Additionally, it will push more strongly for green building regulations to contribute to sustainability initiatives. Constantly seeking relevant growth opportunities, THE FITOUT is bidding for multiple projects in Saudi Arabia.

VERVE INTERIOR DESIGN

Established in 2017, Verve offers turnkey solutions in commercial interiors with special emphasis to design and build projects. In 2023 you will see Verve explore further into salvaging and reuse of materials to bring value to the clients’ needs. The fit-out firm looks to strengthen its portfolio in showrooms with the addition of new projects as the year goes on.

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Harris Plans to Ban Grocery ‘Price Gouging.’ What Does the Evidence Say?

Price increases when demand exceeds supply are textbook economics. The question is whether, and how much, the pandemic yielded an excess take.

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Vice President Kamala Harris’s economic agenda for her presidential campaign features an argument that blames corporate price gouging for high grocery prices.

That message polls well with swing voters. It has been embraced by progressive groups , which regularly point to price gouging as a driver of rapid inflation, or at least something that contributes to rapid price increases. Those groups cheered the announcement late Wednesday that Ms. Harris would call for a federal ban on corporate price gouging on groceries in an economic policy speech on Friday.

But the economic argument over the issue is complicated.

Economists have cited a range of forces for pushing up prices in the recovery from the pandemic recession, including snarled supply chains, a sudden shift in consumer buying patterns , and the increased customer demand fueled by stimulus from the government and low rates from the Federal Reserve. Most economists say those forces are far more responsible than corporate behavior for the rise in prices in that period.

Biden administration economists have found that corporate behavior has played a role in pushing up grocery costs in recent years — but that other factors have played a much larger one.

The Harris campaign announcement on Wednesday cited meat industry consolidation as a driver of excessive grocery prices, but officials did not respond on Thursday to questions about the evidence Ms. Harris would cite or how her proposal would work.

There are examples of companies telling investors in recent years that they have been able to raise prices to increase profits. But even the term “price gouging” means different things to different people.

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Reporting by Jeff Mason, Patrick Wingrove, Trevor Hunnicutt, Bhanvi Satija and Costas Pitas; Editing by Stephen Coates, Chizu Nomiyama and Nick Zieminski

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Jeff Mason is a White House Correspondent for Reuters. He has covered the presidencies of Barack Obama, Donald Trump and Joe Biden and the presidential campaigns of Biden, Trump, Obama, Hillary Clinton and John McCain. He served as president of the White House Correspondents’ Association in 2016-2017, leading the press corps in advocating for press freedom in the early days of the Trump administration. His and the WHCA's work was recognized with Deutsche Welle's "Freedom of Speech Award." Jeff has asked pointed questions of domestic and foreign leaders, including Russian President Vladimir Putin and North Korea's Kim Jong Un. He is a winner of the WHCA's “Excellence in Presidential News Coverage Under Deadline Pressure" award and co-winner of the Association for Business Journalists' "Breaking News" award. Jeff began his career in Frankfurt, Germany as a business reporter before being posted to Brussels, Belgium, where he covered the European Union. Jeff appears regularly on television and radio and teaches political journalism at Georgetown University. He is a graduate of Northwestern University's Medill School of Journalism and a former Fulbright scholar.

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