Let’s now assume that you have closed on the property and have received approval for special use during the due diligence period of the conditional purchase agreement. It is now time to complete your site plans, seek site plan approval, tighten your costs, close your loan, start construction and prepare for operations.
Complete Your Plans/Equipment Layouts and Mechanical and Electrical Drawings
It is now time to tighten down your drawings completely. You, your car wash advisor, the supplier team, and the architect will pour over the drawings refining them to reflect your exact needs and specifications. It is imperative that you incorporate the requirements for properly placed and supported equipment. You will need complete plans to get your site plan permit approved. Include all structures, such as canopies, and all signs, including monuments and wall signs. This is also the time to begin your value engineering process. Value engineering is an organized approach to the identification and elimination of unnecessary costs that do not affect the quality of the product. This process demands thorough review of equipment systems.
Sub Contractor Bid Packages
Your architect or GC needs to prepare sub-contractor bid packages, which can be sent out to multiple bidders in an effort to create competition for the work to lower your acquisition cost. Your GC should organize your budgets and draw requests in accordance with commercial construction divisions.
Based on your budget, you will need to prepare a sworn budget statement. This document will be used to fund your loan initially and then will be continually updated and referenced as your construction proceeds. You must also be prepared for closing costs. See the sample closing cost worksheet in this section.
Your GC should prepare a construction schedule most often in gantt chart format. If time is of the essence, include contract language that provides incentive for staying on schedule and penalties for delays. Time is money. You begin paying interest as soon as your loan is funded.