An important part of planning for a business is to identify the specific market you will serve within your industry. Michael Parker understood that he had a lot of competition in general construction and ultimately carved out a niche for which he is now a recognized expert.
A career that began in 1982 as a carpenter Working in construction since 1992, Michael became an approved contractor for federal agencies. He had an abundance of projects, working at properties such as Willow Grove Naval Air Station and Dover Air Force Base, on projects with the Army Corps of Engineers and for federal housing agencies bringing housing up to code.
But in seeking growth opportunities for the business, in 2005 Michael turned his focus to a specific niche: residential, commercial, industrial and government disaster recovery services, specializing in fire damage restoration and water damage restoration.
“Our broad experience in all types of construction and renovation lets us provide a full range of services that minimize recovery time. Fire and water damage are all-encompassing and restoring a property requires knowledge on all aspects of construction including lead abatement, drywall and flooring, masonry, window and door installation, rough and finish carpentry, kitchen and bath installation and painting.
The volume of work dropped dramatically with the onset of the COIVD-19 pandemic and revenue declined by almost half. Governmental agencies were shut down and other customers stopped releasing new projects to bid. Like so many other companies, Parker Construction had to reduce staff.
Michael turned to True Access Capital for a relief loan for working capital to cover salaries, accounts payable and general expenses.
“I really liked working with True Access,” said Michael. “I like the way they look out for the smaller business owner. The staff is friendly and thorough in helping you fill out all the documents. I worked with Lorenzo and he was very helpful.”
Managing through COVID was difficult, Michael said, but his 20 years of experience in the trades provided him the expertise and business management tools to weather the pandemic.
Now that business is picking up, Michael continues to look for new opportunities. He is counting on his core staff and their combined 125 years of experience in carpentry and other specialties. He has built the company into a multi-faceted operation with expertise in Construction Management, General Contracting, Design Build and General Carpentry services, so the company growth opportunities are nearly endless.