Business Plan Vee See Construction Company, Inc. Marjorie L. Herter
Jan 05, 2016
Business Plan
Vee See Construction Company, Inc.
Marjorie L. Herter
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Mission Statement
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Vee See Construction Company, Inc. builds environments where people work, play, heal, learn, and worship in Metropolitan Chicago.
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Company Description
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As a general contractor for 60 years, Vee See Construction is positioned primarily in the public sector claiming federal, state, and local governmental units as our clients. We provide tenant improvements for our private sector clients.
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Vision
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Capitalizing on our strengths, we will construct projects for both private and public sector clients to provide a steady work stream to keep our core field employees.
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Core Purpose
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We provide general contracting services with at-risk self-performed work.
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Core Values
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Exceptional Quality in Construction Details
Empowerment of Employees Ethical Governance Experience-Enhanced
Knowledge
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Goals/Objectives
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Near Term - 2007– Complete $4 million profitable
work by August 15, 2007– Complete an additional $1
million profitable work by December 31, 2007
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Near Term - 2007 (Con’d)– Achieve a Safety Incidence Rating of
0– Maintain a WC Experience Mod.
</= .87– Hire an Administrative Assistant
Near Term - 2008– Complete $5 million profitable work
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Long Term– Plan for permanent work backlog – Hire a superintendent with “other
trade” experience
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Competitive Advantages
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Multi-disciplined management team
Hands-on jobsite approach by management team
Carpentry self-performed Undesirable, no-glory work Experience with agency
regulatory requirements
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Strong administrative skills Quality construction Reliable, dependable,
accessible
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Areas for Improvement
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Improve the baseline schedule (for profitability & customer satisfaction)
Target jobs to be low bidder - to get the contract
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Ask more questions– CM projects: define scope
– Hard bid projects: develop relationships with architects
– Negotiated projects: instill trust and develop relationships
Build more and better relationships with subcontractors
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Marketing Plan
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2006: 96% Hard Bid sales; 4% Private Negotiated work
Market mix of 75% Hard Bid/25% Negotiated for 2009
By 2010, 50% Hard Bid/50% Negotiated
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Marketing Strategies & Tactics
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Direct mail piece to 20 prospects every month
Follow up with Rules You Should Know before Building Your Important Project
Mail newsletter tertiary Hire VP Sales & Marketing by Jun
2008
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Pricing Strategies
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Break even GM by August 15
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Budget/ProForma
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The Team
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Marjorie L. Herter– President,Secretary,Sole Director– 41 years construction experience– M.B.A., 1979– Certified Construction Associate– Certified – OSHA Construction
Health & Safety– Licensed Mason, City of Chicago:
Concrete & Brick Masonry
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The Team
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Co
ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards
Mimi Schaller, Chief Estimator & Project Manager– 31 years construction experience
– administrative and estimating operations
– A.A., 1977
Bidding Volume v Awards
0
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45
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55
60
65
70
1986
1987
1988
1989
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1991
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2001
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Vo
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e in
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9.00
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ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards
The Team
Bidding Volume v Awards
0
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1986
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Vo
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Co
ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards
Rodney T. Henley, Superintendent– 21 years construction experience
– field operations– Member, Carpenters’ Local #1
since 1984– Certified – OSHA Construction
Health & Safety
Bidding Volume v Awards
0
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1986
1987
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2001
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Vo
lum
e in
MIL
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0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
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Co
ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards
The Team
Bidding Volume v Awards
0
5
10
15
20
25
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65
70
1986
1987
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2001
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Vo
lum
e in
MIL
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0.00
1.00
2.00
3.00
4.00
5.00
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7.00
8.00
9.00
Co
ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards
James R. Herter, Estimator & Project Manager– 12 years construction experience
- field and estimating operations
Bidding Volume v Awards
0
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1986
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Vo
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Co
ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards
Organization Chart
Bidding Volume v Awards
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Vo
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0.00
1.00
2.00
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4.00
5.00
6.00
7.00
8.00
9.00
Co
ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards
Bidding Volume v Awards
0
5
10
15
20
25
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35
40
45
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55
60
65
70
1986
1987
1988
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Vo
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0.00
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Co
ntr
acts
in
MIL
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NS
Bidding Volume
Contract Awards
History
Bidding Volume v Awards
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Vo
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e in
MIL
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0.00
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Co
ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards
Established January 2, 1947– Vergil & Siebert Herter, partners
Incorporated March 20, 1968– Vergil C. Herter, President– Siebert C. Herter, Vice President– Marjorie L. Herter, Secretary
Bidding Volume v Awards
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1986
1987
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Vo
lum
e in
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0.00
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9.00
Co
ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards
Estimating History
Bids v Awards
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ntr
acts
in
MIL
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Bidding Volume
Contract Awards
Bidding Volume v Awards
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10
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45
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ntr
acts
in
MIL
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NS
Bidding Volume
Contract Awards
Opportunities
Bidding Volume v Awards
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1986
1987
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e in
MIL
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Co
ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards
Problems & Opportunities– Many large contractors are
shifting risk by becoming Construction Managers
– More owners are buying into the CM project delivery method
– Opportunities for backlog work in Trade Packages are more available with larger CM work
Bidding Volume v Awards
0
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1986
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Co
ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards
Competition
Bidding Volume v Awards
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1987
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in
MIL
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NS
Bidding Volume
Contract Awards
Increased competition – Larger companies downsizing – Start up companies squeezing
into the middle market
Strengths
With a focus on scheduling and coordinating projects for timely
completion, quality in the construction details is assured with our self-performance of carpentry
work
Bidding Volume v Awards
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ntr
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in
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Bidding Volume
Contract Awards
TTM Revenues
Sales ($K) -- Trailing 12 Months (TTM) Chart
0
1000
2000
3000
4000
5000
J-05
F-05
M-05
A-05
M-05
J-05
J-05
A-05
S-05
O-05
N-05
D-05
J-06
F-06
M-06
A-06
M-06
J-06
J-06
A-06
S-06
O-06
N-06
D-06
Month - Year
Ro
llin
g A
nn
ua
l To
tal S
ale
s $
K
Bidding Volume v Awards
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1986
1987
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ntr
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in
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Bidding Volume
Contract Awards
Ratio Analysis & Industry Comparison
Ratios 1996 1997 1998 1999 2000
RMA Industry Comparisons 2000-01 2001 2002
Current 1.13 2.02 1.18 1.49 1.30 1.6 1.52 1.48Quick 1.13 2.01 1.16 1.40 1.13 1.4 1.50 1.31Sales/Receivables 8.62 9.44 2.17 11.76 2.70 10.5 16.35 6.46Sales/Working Capital 43.13 6.40 11.65 21.30 9.62 9.1 13.55 18.18Sales/Total Assets 4.35 2.81 1.67 6.10 2.02 4.3 4.20 4.76Avg. Months in Backlog 1.53 8.63 23.14 0.39 30.68 n/a 11.28 1.70Avg Backlog to Working Capital 5.49 4.60 22.46 0.70 24.61 n/a 9.32 2.57Return on Equity -36.3% 18.6% 40.3% 0.6% 1.0% 37.4% 4.3% -28.1%Gross Profit 3.6% 2.5% 13.9% 5.9% 11.6% 13.9% 9.9% 10.7%Profit Before Taxes -3.1% 3.2% 3.8% 0.3% 0.1% 2.3% 0.4% -3.8%
Bidding Volume v Awards
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1986
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Co
ntr
acts
in
MIL
LIO
NS
Bidding Volume
Contract Awards