AIA Contract Documents Provide Bolster with the Framework for Ongoing Success
Bolster is a data-driven design-build firm on a mission to empower homeowners and eliminate risk from major home renovations through radical transparency. Bolster supports New Yorkers using powerful technology and professional customer service to receive the best possible renovation experience: a beautiful home at a fixed-price cost.
In 2013 Bolster launched their bonded-contractor marketplace model using ACD Contract Documents as their guide. The management team at Bolster felt they had all the key ingredients, including people and resources, but needed help developing the framework for the unique contracts that would guide their projects. Bolster leadership saw the potential of their business model and the way it could revolutionize the renovation space but needed a sturdy contract to guide them. They looked to ACD, and the rest is, as they say is history,
Out of those efforts came the opportunity to work on several high-profile projects that launched the Bolster business to another level. “At the time, we didn’t have the in-house resources to draft a complex document of this type, but we knew ACD had one we could model. They graciously gave us access to their legal personnel. In turn, we drafted a document that has become the framework for some of our most visible projects and the foundation for our ongoing success.
Gaining the Trust of Customers
A home renovation is a risky proposition as homeowners are trusting contractors with their most valuable asset: their home. When it goes well, and most times it does, it’s wonderful, as an environment undergoes a transition and new life enters the home. As the start date looms, owners begin wondering about many things. From budgets to materials to missed deadlines and beyond, the natural inclination for an owner is to worry.
“We understand the anxiety a homeowner feels when it comes to renovation. It’s their home, and a project of that size and scope typically represents a large financial commitment on their part. Aside from our track record, our contracts with a framework provided by ACD are the strongest tool we use to ease customer fears. They provide clarity and transparency on how the project will be managed from inception through completion.”
Increased Revenues and Profits
Regardless of the industry, New York City is one of the toughest markets in the nation. It’s the big stage and one where only the strong survive. Those who pass the test can do so by paying attention to details and operating with integrity. Not only is this the formula for survival, but it’s also a recipe for success.
“Over the past five years, the value of our contracts has increased by an astounding 80%. This type of growth can’t be overemphasized, given the circumstances we’ve all been working and living in. The surge we’re seeing in this area directly results from our trusting ACD to help us build documents that connect with our customers. I might also add that aside from the increased value of our contracts, we’ve also seen efficiency follow a similar trend.”
Raising the Client Profile
Higher-end clients typically result in more complex projects and increased revenues and profits. Before leveraging the expertise at ACD, Bolster already had a reputation for quality custom renovations. The philosophy has always been to offer each client the highest level of service regardless of financial status. The market, including high-earning executives and entrepreneurs, was watching, resulting in Bolster landing several lucrative renovation opportunities.
“We treat every project like it’s a high-profile opportunity. It’s part of our approach, and it’s what has helped us continue to thrive. But we understand that some are more lucrative than others. As we continue growing, the volume of higher-profile, lucrative projects increased exponentially. The trajectory of our business and the value of the projects they’re bringing have both soared since meeting ACD.”
ACD Offering Something for Everyone
Businesses and their needs aren’t linear and sometimes require willing, flexible providers to accommodate and help them grow. This was the case when Bolster approached ACD. They were looking for a unique service solution that would allow them to appeal to and address an underserved need of their target audience. “Our request was out-of-the-box, but so was ACD’s response. Instead of turning us away, they listened and saw the viability of the business model we were in the process of creating. Their willingness to do that made and continues to make all the difference.”