Property development companies are those companies that develop housing and commercial buildings to be made available for the market. In Singapore, you will be able to find a lot of real estate properties that needs to be developed and sold. Establishing your own property company there might not be such a bad idea if you have the means to start it up.
Property Development Business Startup
- You must have extensive knowledge about property development. Attend seminars, trainings, or take a short course in a college that will teach you about real estate and business management.
- Make a business proposal for a time period; say, for 2 to 5 years of operations. Business proposals contains details about startup costs, licenses that you need to have, fees, business permits, and the number of workers you need to employ. State how you will be able to breakeven with your startup costs and to gain profits.
- If you run short with your capital for startup, apply for loans at various credit institutions. However, make sure that you apply for those who will only charge you for low interest rates. You can also opt to apply for business loan grants.
- Determine the services you are going to offer to your clients; services include roofing and repair or installation of heaters.
- Hire employees based on the services you will be offering. Make sure that you hire those that are skilled enough to do the specific job.
- Hire a certified public accountant to monitor all your finances and to do the payroll as well. The information you will get from the statements the accountant makes will be vital for your management.
- Create a price for your services. Prices should be based on the cost of the supplies, transportation cost, and labor. Make prices that are competitive; do not price your services too high so you can attract customers.