Course
Wake Tech Contractor's Academy
Name
SEF-3001BE3
Available Classes
Not currently offered.
Description Course Outline Requirements Intended Audience More Details
Intended Audience
This course is open to anyone interested in learning about the business of Contracting with the government especially in construction contracting. It is particularly well-suited for haulers, contractors, framers, landscapers, etc. Current and prospective Wake Tech students are encouraged to participate. Will also connect to the Wake Tech MSEA Program.
Description
Wake Tech Contractors Academy is an 8-week program preparing service and product providers with the insight and basic know-how to become certified trade partners with the government at all levels and learn basic best practices to conduct that commerce through an intensive course that will prepare them to compete for government contracts. The program will also implement a core curriculum of Entrepreneurial Education by utilizing the Kauffman Fast Trac Curriculum as featured in the current offered Launch Programs. Finally, there will also be a significant component of the program focus on best practices for getting certified as a Historically Underutilized Business at the College, Local, State, and Federal level, expecting the participants to be adequately prepared to gain certifications upon completion. This course is the successor to a very successful seminar series that has existed at Wake Tech since 2019.
Course Objectives
  1. Upon Completion, contracting students will be better prepared to manage the process of conducting business with a governmental firm regardless of level(Local/City/State/Fed). They will also have a basic understanding of critical aspects of running a small business successfully.
Outline of Instruction
  1. ~Contrcting Basics (Local/City/State/Fed)
    ~Understanding Market Research: where to locate information; how to apply this to my business
    ~The Value of Networking: How to Network and follow up to build ongoing business relationships
    ~Money Management: During this hands-on, highly interactive session, we will review the primary parts of your profit & loss statements and your cash flow statement. You will be taking a close look at your business profit & loss, calculating your profit margin, and analyzing your ability to pay your vendors/employees/subcontractors. We will also be completing the dollar bill activity to help you understand how each piece of your business works together.
    ~The Cost of Doing Business
    Understanding how to appropriately price and bid a job can be challenging. This second hands-on week will be taking a close look at the cost of doing business and will provide you with a formula to help you calculate how much you should be charging for a job.
    We will calculate overhead, expenses, personnel, and how to calculate margins, mark-up and ensure that you are making money on your jobs.
    ~Products/Services: Getting Started- understanding the procurement process; Requirements for submitting a successful proposal/bid/request for information
    ~Construction: "The Nuts & Bolts of Construction Management” Topics include public bidding requirements, post-bid analysis, bid package manual review, project documentation, submittal review, quality control, supply chain management, purchase orders, project accounting, etc.
    ~Products/Services: Submitting the Perfect RFB; will also include a “hands-on” activity to demonstrate the best way to submit RFP, RFB, etc.
    ~Construction: The Nuts & Bolts of Construction Management" Continued
    ~How to get a Loan for my Business: understanding creditworthiness, collateral, etc.
    ~Establishing Relationships to Grow Your Business
    ~UVP
Contact Hours
20
CEU's
No
Industry Standard, State, or National Certification
No
CE to CU Articulation
No
Prerequisites
NONE
Text and Supplies Needed
Students will need a computer to complete web-based training
Clinical Site/Special Facilities
N/A
Requirements for Successful Completion of this Course
  1. Attendance 90% or above
  2. Participation
Accreditation/Special Approval Requirements
N/A
Intended Audience
This course is open to anyone interested in learning about the business of Contracting with the government especially in construction contracting. It is particularly well-suited for haulers, contractors, framers, landscapers, etc. Current and prospective Wake Tech students are encouraged to participate. Will also connect to the Wake Tech MSEA Program.
Specific Industry or Business Support Needs
Industry or Job Titles Related to training Outcomes for Employment
  • Subcontractor
  • Contractor
Related Courses
Course Contact Information
Christopher Weeks
cweeks2@waketech.edu
919-335-1004