"Right-Size" Your Building Project Budget and Size

How big can (or should) your building project be?

What's the budget, and what do you get for that investment?

Do you build a new building or lease an existing space?

Figuring out the right size and right budget for projects is almost always the first step, and it's tricky, because there's no "right" place to start. Some clients have specific budgets, specific buildings, or other clear anchors for us to develop a project around, and others are much less anchored to anything specific. 

There's no one piece of information that works alone or as a specific formula as to how big a facility should be or how much to spend, because nothing makes perfect sense on its own, it's all relative to other considerations.

For example, even with the same budget or size as a goal, the piece of real estate you're plugging into will be the determining factor as to how far your dollar gets you. Some spaces need a ton of work, and will eat up your budget. Some spaces are spotless, but cost a lot in rent. Neither is "wrong", but it has to work for you.

On the other hand, the way that you operate and program your building space will have a HUGE impact on what a certain demographic market will produce, so it's simply not one piece of data or another that will give you the answer.

This is why we balance the pieces, before we do any drawings, because if we can define the ballpark for the game we're playing, it creates the context for everything that comes next.

I find we can bracket projects by going bottom-up with a shopping list/ wish list, and top-down from a budget cap (which can come from access to capital, business model limitations, or whatever else is a controlling factor).

This understanding gives us a filter to look at real estate, construction costs, assess  building conditions, and many other considerations that help us understand how far our investment will go, and add up to the "right-size" equation.

This is playing the game in building development. We can set up the pieces easily enough, but once things start moving, that's when we get into the weeds...

In this video, we dive into the process of 'right-sizing' your building project.

Learn how to:

Align your goals with a practical budget.

Balance bottom-up and top-down budgeting approaches.

Factor in key considerations like market conditions, risk tolerance, and emotional limits.

Connect your building investment to your long-term business success.

Whether you're a new entrepreneur or an established business, this guide will help you make informed decisions that set the stage for a successful project.

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More in the video.

If you liked this content, and you're committed to moving your project forward in the next 6-12 months, then go ahead and get in contact with me here;
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If you liked this content, and you're committed to moving your project forward in the next 6-12 months, then go ahead and get in contact with me here;
https://www.chrisryanstudio.com/contact

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