Millwork Service Business Plan and SWOT Analysis

Millwork Service Business Plan, Marketing Plan, How To Guide, and Funding Directory

The Millwork Service Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Millwork Service business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.

Your Business Planning Package will be immediately emailed to you after you make your purchase.

Product Specifications (please see images below):

  • Bank/Investor Ready
  • Complete Industry Research for the Industry
  • 3 Year Excel Financial Model
  • Business Plan (26 to 30 pages)
  • Marketing Plan (24 to 28 pages)
  • 425+ Page Funding Directory
  • PowerPoint Presentation
  • Loan Amortization and ROI Tools
  • Three SWOT Analysis Templates
  • How to Start a Business Guide
  • Easy to Use Instructions
  • All Documents Delivered in Word, Excel, and PowerPoint Format
  • Meets SBA Requirements

Finishing carpentry and millwork is an extremely important part of the real estate development and improvement process. These businesses are able to generate revenues not only from new constructions, but also when a homeowner a property owner wants to improve the internal appearance of their property. Millwork companies as well as finishing carpentry businesses are in strong demand especially in affluent areas where individuals can afford to have interior restorations at any given time. Given the specialized nature of this work, the barriers to entry are considered to be moderately high for a new millwork service. The startup costs associated with these businesses typically ranges anywhere from $50,000 to $200,000 depending on the equipment in the amount of vehicles that are going to purchased at the onset of operations. The gross margins from labor typically range anywhere from 50% to 90% depending on whether or not individuals are hired as contractors or as direct employees of the business. The gross margins from sales typically is around 70% to 95% depending on whether or not material sales are factored into the cost of goods sold or are directly incurred by the client.

Given that this is a contracting business that has a substantial amount of tangible assets, most financial institutions are willing to provide a strong degree of capital support for these businesses. Of course, a millwork service business plan is going to be required. This business plan should feature a three year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. As it relates to industry research, there are approximately 4,000 companies that provide millwork service and finishing carpentry to the general public. Each year these businesses generate about $45 billion revenue. As with any well-written business plan, a thorough demographic profile should be developed in regards to which types of homeowners and property owners will be targeted for the services. A second demographic analysis should also be developed in regards to developing ongoing relationships with general contractors, real estate investors, and real estate developers at will call on the business for the services. A competitive analysis is a was always included in these but business plans as well in order to ensure that the millwork service company is not launching operations in an overly saturated market.

A millwork service SWOT analysis should be produced as well in conjunction with the business plan and marketing plan. As it relates to strengths, millwork services and finishing carpentry contractors are typically in demand at all times in wealthier areas. The gross margins from sales are high, and the barriers to entry are high once a business is established.

For weaknesses, and certain markets a millwork service may experience declines in the revenue during times of economic recession. Additionally, the expenses regarding these businesses can be somewhat high given the large employee expense, insurance expense, and underlying marketing expenses associated with these businesses.

As it relates to opportunities, millwork services expand by simply hiring additional employees, expanding their scope of marketability, and by potentially acquiring companies operate in a substantially similar capacity.

Pertaining to threats, there is really nothing about these businesses it’s going to drastically change moving forward given the fact that these businesses have been around for decades and will continue to be in demand among property owners reels a developers.

A millwork service marketing plan also needs to be developed in order to ensure that people can very quickly find the business. Most importantly, expansive online presence should be developed in order to showcase previous work completed by the owner, contact information, pricing information, and displaying a substantial amount of imagery regarding the services that can be rendered to a homeowner or a property owner. This website should be mobile friendly and listed among all major search engines. Additionally, a presence on social media is extremely important given the fact that these businesses were are often provided referrals from people that have had successful experiences in the past. By maintaining a presence on FaceBook, Twitter, Instagram, and LinkedIn – people will be able to more quickly find the business when they require specialized millwork or finishing carpentry services. Additionally, these businesses will often take out full-scale advertisements in regional circulars pertaining to real estate sales, lifestyle magazines, and related publications.

For an entrepreneur that is experience with finishing carpentry or millwork, these businesses can be lucrative contracting companies. Given the economic stability of these businesses coupled with the large tangible asset base, there almost always able to secure ongoing capital for their ongoing development and expansion needs.