Starting a facilities management business can get you on the path to a secure financial future but it's important to plan out the business in detail before you start. We offer a few secrets to develop the business successfully.
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Wondering how to start a facilities management business? We take you step-by-step from start to success.
Facilities Management Company
Get a few contracts with local office buildings and your facilities management startup will be off and running.
Getting a Handle on the Facilities Management Industry
The facilities management field is a deliberately broad business category, encompassing a diverse range of multidisciplinary specialties and job functions. Facility management companies provide maintenance and/or management services for commercial and industrial buildings. However, the scope of provided services varies widely, from daily maintenance tasks to the implementation of sophisticated environmental management systems.
Given the breadth of the industry, startup entrepreneurs in facilities management need to quickly assess their capabilities and identify the specializations they can deliver to clients. While some startups launch as full facilities management providers, others choose to focus on safety, maintenance, fire prevention, security, environmental compliance or other sub-fields as a gateway to the industry.
Guidelines for Facility Management Startups
Many facility management entrepreneurs dream about owning a large management corporation that caters to a high profile client list. Dreaming big is a good thing for entrepreneurs . . . But the most important thing is getting your foot in the door and getting your business off the ground as quickly as possible.
Start small. In the facility management business, there is absolutely nothing wrong with starting small. For example, instead of holding out for a management contract with a major entertainment venue, launch your business with a handful of local office buildings. As your business grows, you will learn valuable lessons and establish a reputation that makes it easier to land larger clients.
Hire strategically. While it might be nice to have an authority on green building management on your staff, a more strategic hiring approach might be to hire an individual who has above average skills in multiple management disciplines so the hire can be deployed on multiple types of job sites.
Build a portfolio. Income is great, but every client you acquire should have strategic value for your portfolio. It takes time and effort to identify, target and secure specific clients in your market. However, the payoff will be a client portfolio that demonstrates an increasing scope of responsibilities and a robust client list that can be mined for referrals.
How to Write an Effective Facilities Management Company Business Plan
A business plan isn't just another startup formality. It's a core business document that will guide your facilities management business's decisions and activities on a go-forward basis.
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