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Since you need to secure large sums of capital to get a property to actually develop, showing that you have covered all bases is vital.
Used right, a business plan can help to really take your business ideas to a new level.
A property development firm is a business that carries a lot of risk, dependent on your skills in development.
As you look at your initial developments, keep the following in mind.
Adrien Goslett, CEO of RE/MAX, has recently stated that he anticipates “reinvestment (both local and foreign) in the country post-election if the fight against corruption continues and tough decisions are made”, and went on to say with hope that “[g]reater stability should lead to consumer confidence, and with that a more buoyant real estate market”.
The main reason that you need to have such detail and precision in your business plan is to build trust.
Most of the time, you will be trying to secure funding, earn licensing or various other factors that might come into play.
Discover your local competition, understand legislation, property taxes, and your potential target markets.
Without acquiring knowledge of the local property industry, its past and future, you will find it difficult to accurately build a business plan that is suitably aligned to your business objectives.
While our economy has been slow and volatile in past years, there is optimism for the future, which provides a good foundation of opportunity for emerging property development businesses in South Africa.
Are you in need of a property development business plan?