Eco builder | A chat with Ben Pollard of Pollard Builders in Portland
Founded: January 2008
Employees: Pollard and five independent contractors
Startup costs: $10,000
Projected revenue, year one: $250,000
Projected revenue, year two: $400,000
Contact: 773-0764
www.pollard-builders.com
What is the mission of Pollard Builders?
We build new homes and additions and remodel existing homes in as ecologically sustainable a manner as possible. We manage our affairs with the utmost emphasis on ethics and integrity and we create a safe and socially responsible workplace.
How is your company financed?
Through a combination of organic growth and personal savings. Just that as we bring money in we’re putting it into the business, basically. The income generated by the company is invested directly into tools and equipment that allow us to grow.
So you started with personal savings, you didn’t get any loans?
You can start a business with a tool belt and a hammer. I had some money of my own that I used to buy tools. I started building in 2005 and at that time I didn’t invest a lot of money, I bought some tools and a tool belt and a truck and as it grew I bought more tools. So I would say [I started the company] through a combination of revenue from projects and personal savings.
How do you market your business?
Primarily through word of mouth. I have found many of my best customers through word of mouth, through personal acquaintances or their friends. I also display a company sign at my job sites, which has led to new customers and new projects. We have a website which we plan to develop in the future to be our primary marketing tool and we are involved in local organizations such as the U.S. Green Building Council and Habitat for Humanity of Greater Portland. We also recently attended our first trade show at the Going Green Expo in Saco, which generated several promising leads. Because this was my first trade show, one of the event organizers offered me a free newspaper advertisement in the program guide, which appeared in the Portland Phoenix [newspaper]. I’m also grateful for my graphic designer, Martha Cooper, my best friend’s younger sister, whom I’ve known since I was five. Martha designed my company logo, business cards, site sign, truck lettering, print advertisements and is working on the website.
What has been the greatest challenge in starting your business?
I could say the greatest challenge is narrowing it down to one challenge. There’ve been several major challenges. I would say the single greatest challenge in starting my business has been learning to accurately estimate the cost of projects. It’s important for a construction company owner to know how much a project will cost in advance; however, as I’ve managed more projects, I’ve gained experience and knowledge, which has allowed me to estimate the cost of future projects more accurately. We are committed to staying under the budgets that we present to customers, so in some cases I have endured financial losses on projects due to inaccuracy on my estimating. However, the experience gained made it worthwhile and I consider the losses to be part of the tuition I have paid to learn to become a successful construction company manager.
Is there a lot of competition in this industry? How do you stay competitive?
Yes, the construction industry is very competitive and we do our best to compete by delivering a very high quality product for very reasonable and moderate costs. We work hard and use our time and materials efficiently. We also mark up our costs only 10% to cover our profit and overhead, which was suggested to me by my grandfather, who was involved in real estate development, but is more of a profit margin from a bygone era, where today many builders mark up their costs 20-25% to cover their profit and overhead.
What are your goals for the future of your business?
We would like to build many new custom homes and additions for clients in the greater Portland area and we would also like to help homeowners remodel their existing houses to make them more energy-efficient. We also plan to get involved in sustainable real estate development, for example, by purchasing a 50-acre parcel of land and donating 45 acres to a local land trust and creating an ecologically sensitive and energy-efficient multi-home subdivision on the remaining five acres.
Interview by Mercedes Grandin
New Entrepreneurs profiles young businesses, 6-18 months old. Send your suggestions and contact information to editorial@mainebiz.biz.
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