Specialties - Projects Finders 1/2
Finders is one of the very important and high revenue maker specialties at Emircon! In fact, 60% of Emircon's revenues come from Finders.
It is about maintaining the market under the microscope, stay up to date with development and construction projects revealed across the U.A.E.,
maintain a strong relationship and proper account management with contractors and sub-contractors, and maintain a well defined database for
suppliers and manufacturers of products and services that are relevant to those projects.
At Emircon, Finders are now a days focusing mainly on the civil development sector; that's all about constructions taking place across the country. The way it works is fantastically in harmony with the current market situation in the U.A.E where since over 5 years and until the next decade, the demand is higher than the supply and therefore, quality is what end users look for in most cases.
Finders are to maintain existing and keep creating new tight relationships and proper account management with major contractors
and subcontractors. When a main contactor is looking for suppliers and service providers to do MEP work such as electromechanical or
air-conditioning, Finders will then identify these projects, evaluate them, and select the proper resource(s) to fulfill the required job depending upon
the size of the project and the resource's efficiency in meeting a project's size and deadline.
Once a project is identified, Finders will contact certain suppliers and inform them about the opportunity. In addition to that, email shots about certain projects will be sent to suppliers. If a supplier is interested in one of the opportunities, the supplier should then reply to the sender requesting participation in the project to which an Emircon finder will evaluate, and reply with the required documents to sign as part of the Finder's agreement. Supplier will then commit to comply with the terms and conditions to secure the finder's fee.
Once the initial communication is established with regards to the selected project, a Finder will set a meeting with the interested supplier, negotiate the process for proposing, sign the finder's agreement, reveal the end user details and proceed to the next phase. Next, Finder will set and lead meetings between both the buyer and the seller. When such contact is established, Finder will then work on coordinating between both parties to help close the deal and earn the commission fee. Finder will also help following up on meeting delivery deadline and payment fulfillment terms.
It is important to note that just like Business Brokers, Finders are not liable for any sort of warranty and cannot perform buying and purchasing operations nor can they sign contracts on behalf of any parties. However, Finders can represent suppliers and their offers, negotiate prices and do what is necessary to close a deal.
A question may be raised and that is: What is the purpose of a finder when a supplier can have access to end user? Ironically, the answer to that is a never ending story however and in a simplified way, just like the case of selling or buying a business, if there was no value for a Finder, a Finder would not even exist. The value that Finders add in linking sellers and buyers consists mainly in matching the puzzle pieces.
Although the business is remarkably booming in this part of the world and chances to take projects are high, many companies working as subcontractors for instance, failed to meet delivery deadlines or in some other cases made an initial mistake by undertaking a project that turned out to be bigger than their capacity, in many cases these kinds of errors led to a complete shutdown of the business and owners faced severe penalties.