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In the next month, I’ll be taking (and passing) the LEED certification test so I’ll be a certified “expert†on new construction green building practices and procedures.
I was approached yesterday by a friend of mine with a proposal and he's asked me to partner with him on a new business idea.
We live in an extremely high-priced real estate maket and in one of the highest income areas of the country.
The town I live in just passed a green building ordinance requiring all new construction to meet LEED silver standards. It also applies to any home remodels over $500k.
The plan is to form a team and sell our services “to the rich†and help them green their homes, either through minor or major rehabs, possibly even tear-down and rebuild.
My friend is a construction superintendent and I’ve spent the last four years working in development. We would also team with a “modern/green†architect to complete the team. Through my work in development, I have several contacts and connections with other architects, engineers and other people we would team to form each project team.
My question is this. This seems like a good idea “in theoryâ€, but how can I figure out if this is feasible? I’m willing to put in the blood, sweat and tears to make this happen, but I want to be sure we have a sound entrepreneurial premise.
I know green building is "in vogue" and is "hip" in the San Francisco area. I read an article this morning that said the green building industry is a $2 billion industry currently and projections are $25-30 billion in the next few years.
I realize now is not the best to ask people to spend extra money to be “green,†but I think if we could get even 1 or 2 clients and get the business going, once things clear up in a few years we’d be able to pick up many more clients. After building the consultant side of the business, the plan would be to leverage the profits and experience into developing new green/modern homes/apartments that we would sell or rent.
I’ve done a little research today to see what type of competition exists and I’ve been able to find a couple of companies that seem to offer some type of related service, but I think with our collective connections and expertise, we could “do it better†so to speak.
Any advice/suggestions/things to think about would be greatly appreciated!!
Best,
Sid23
I was approached yesterday by a friend of mine with a proposal and he's asked me to partner with him on a new business idea.
We live in an extremely high-priced real estate maket and in one of the highest income areas of the country.
The town I live in just passed a green building ordinance requiring all new construction to meet LEED silver standards. It also applies to any home remodels over $500k.
The plan is to form a team and sell our services “to the rich†and help them green their homes, either through minor or major rehabs, possibly even tear-down and rebuild.
My friend is a construction superintendent and I’ve spent the last four years working in development. We would also team with a “modern/green†architect to complete the team. Through my work in development, I have several contacts and connections with other architects, engineers and other people we would team to form each project team.
My question is this. This seems like a good idea “in theoryâ€, but how can I figure out if this is feasible? I’m willing to put in the blood, sweat and tears to make this happen, but I want to be sure we have a sound entrepreneurial premise.
I know green building is "in vogue" and is "hip" in the San Francisco area. I read an article this morning that said the green building industry is a $2 billion industry currently and projections are $25-30 billion in the next few years.
I realize now is not the best to ask people to spend extra money to be “green,†but I think if we could get even 1 or 2 clients and get the business going, once things clear up in a few years we’d be able to pick up many more clients. After building the consultant side of the business, the plan would be to leverage the profits and experience into developing new green/modern homes/apartments that we would sell or rent.
I’ve done a little research today to see what type of competition exists and I’ve been able to find a couple of companies that seem to offer some type of related service, but I think with our collective connections and expertise, we could “do it better†so to speak.
Any advice/suggestions/things to think about would be greatly appreciated!!
Best,
Sid23
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