UBC Graduate Research

Bigfoot Consulting Amaya, Emma; Arias, Carlos; Tutumlu, Emrah; Arbulu, Ricardo; Negraeff, Darren Apr 22, 2008

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 UBC Social Ecological Economic Development Studies (SEEDS) Student ReportCarlos Arias, Darren Negraeff, Emma Amaya, Emrah Tutumlu, Ricardo ArbuluBIGFOOT CONSULTINGMBA 500April 22, 20089191260University of British Columbia Disclaimer: “UBC SEEDS provides students with the opportunity to share the findings of their studies, as well as their opinions, conclusions and recommendations with the UBC community. The reader should bear in mind that this is a student project/report and is not an official document of UBC. Furthermore readers should bear in mind that these reports may not reflect the current status of activities at UBC. We urge you to contact the research persons mentioned in a report or the SEEDS Coordinator about the current status of the subject matter of a project/report”.   BIGFOOT CONSULTING             Emma Amaya Carlos Arias Emrah Tutumlu Ricardo Arbulu Darren Negraeff      Version 2.0  2Executive Summary  The B.C. Government and local governments have started different initiatives aimed to reduce the environmental impacts of buildings.  Currently, the city of Vancouver is developing a green building strategy (GBS) that will be implemented in several phases and will pursue a mandatory regulated green building strategy for most new development in the city.i  Similarly, the B.C. Government is proposing a B.C. Green Building code for early 2008 which will address, among other things, new provisions of green building regulationsii.  It is foreseeable that in the near future the government will require that all new building construction follow certain green building guidelines which will result in an increasing demand for green building services.  This increased demand will generate an opportunity for companies that can offer expertise in this field, as this type of new construction will require additional capacities or expertise that medium and small developers do not possess at this point in time.   Bigfoot Consulting will offer green consulting services to satisfy the underserved demand for green building expertise.  Currently the competition is quite fragmented and recent entrants have not been able to meet current excess demand.  Competitors offer either specialized niche consulting or a more comprehensive range of services, and range from well-established architectural firms to new ventures.  Bigfoot will provide a comprehensive range of green consulting services targeted to individuals (B2C) and to development teams in the construction industry pursuing green building standards (B2B) in the GVRD.  Bigfoot will differentiate itself from its competition by leveraging UBC’s 11 years of experience in green building and sustainable community planning, and will draw on the qualified personnel pool that the Sustainability Office currently possesses.  Importantly, Bigfoot will offer UBC’s own green building standard, REAP, for the first time to the off-campus development market.   3Bigfoot will require a $50,000 budget from UBC in order to cover short-term costs and the addition of one salaried consultant to operate under this business plan.  Based on the economic forecast and estimated market share, Bigfoot can expect to certify 18 projects to the REAP standard in the first year and generate net income before taxes of $122,025.  This represents a profit margin of 40% in Bigfoot’s first year of operations.                       4Table of Contents  1 THE GREEN BUILDING INDUSTRY AND THE BIGFOOT CONCEPT................................................. 5 1.1 INDUSTRY .................................................................................................................................................... 5 1.2 THE COMPANY AND THE CONCEPT .............................................................................................................. 6 1.3 THE SERVICES OFFERED .............................................................................................................................. 6 1.3.1 REAPTM  (Residential Environmental Assessment Program).................................................................. 7 2 MARKET RESEARCH AND ANALYSIS ...................................................................................................... 7 2.1 MARKET SIZE AND TRENDS ......................................................................................................................... 7 2.2 ECONOMIC FORECAST AND ESTIMATED MARKET SHARE ............................................................................ 8 2.3 SECONDARY MARKET RESEARCH................................................................................................................ 9 2.4 PRIMARY MARKET RESEARCH................................................................................................................... 10 2.4.1 Green Attitude and green intentions .................................................................................................... 10 2.4.2 Home ownership and green renovations.............................................................................................. 10 2.4.3 UBC: Sustainable or Green? ............................................................................................................... 11 2.5 CUSTOMERS............................................................................................................................................... 12 2.5.1 Targeted Market Segments................................................................................................................... 12 3 BUSINESS STRATEGY.................................................................................................................................. 13 3.1 COMPETITOR ANALYSIS ............................................................................................................................ 13 3.2 COMPETITIVE ADVANTAGES...................................................................................................................... 13 3.3 OVERALL MARKETING STRATEGY............................................................................................................. 14 3.3.1 Value Proposition................................................................................................................................. 15 3.3.2 Pricing.................................................................................................................................................. 15 3.3.3 Advertising and the Marketing Calendar ............................................................................................. 15 3.4 ENTRY AND GROWTH STRATEGY .............................................................................................................. 16 4 IMPLEMENTATION...................................................................................................................................... 18 4.1 DEVELOPMENT STATUS AND TASKS .......................................................................................................... 18 4.2 DIFFICULTIES AND RISKS........................................................................................................................... 18 4.3 PRODUCT IMPROVEMENT AND NEW PRODUCTS......................................................................................... 19 5 OPERATIONS.................................................................................................................................................. 19 5.1 THE CONSULTANT-CLIENT RELATIONSHIP ................................................................................................ 19 5.2 CORPORATE SOCIAL RESPONSIBILITY........................................................................................................ 20 5.3 REGULATORY AND LEGAL ISSUES ............................................................................................................. 20 6 MANAGEMENT TEAM................................................................................................................................. 20 6.1 ORGANIZATION.......................................................................................................................................... 20 6.2 KEY MANAGEMENT PERSONNEL AND COMPENSATION ............................................................................. 21 7 THE ECONOMICS OF THE BUSINESS ..................................................................................................... 22 7.1 REVENUE STRUCTURE ............................................................................................................................... 22 7.2 EXPENSES .................................................................................................................................................. 23 7.3 INVESTMENTS ............................................................................................................................................ 23 7.4 FINANCIAL PERFORMANCE......................................................................................................................... 23 8 CRITICAL RISKS, PROBLEMS, AND ASSUMPTIONS........................................................................... 24 APPENDICES ............................................................................................................................................................ 25  5 1 The Green Building Industry and the Bigfoot Concept 1.1 Industry  In 2006, the green building market in Canada was valued at $70 billion.  That figure is expected to exceed $74 billion by 2009iii.  The non-residential sector accounts for approximately $20 billion with residential accounting for $50 billion.  In total, the environmental impact of all of the buildings in Canada is quite substantial.  Buildings account for: 38% of total Canadian energy usage; 30% of total Canadian greenhouse gas emissions; and 40% of raw material usage globally.iv   As a result, people have become more concerned about the environment and have increasingly focused their disposable income on more environment friendly products, such as hybrid cars and green buildings.  In North America, the importance of green building has been one of the fastest growing markets – especially so after the U.S. and Canada Green Building councils established the LEED™ Certification program in 2001v.  So far, government buying has been the major driver of increased green building activity, followed by commercial use buildings (refer to exhibit 1.1); however, government has also been creating incentives for sustainable building practices in the private sector.  The Vancouver City Council approved a requirement that LEED™ Gold level be achieved in all new civic buildings.  This means that new buildings must show 30% energy consumption improvementvi.  It is not surprising, then, that B.C. is the center of the green building market in Canada.  For example, 26 out of 40 Canadian LEED™ registered buildings are in British Columbia, and the University of British Columbia has developed a new green building rating system called REAPvii.   61.2 The Company and the Concept Bigfoot Consulting is targeting the growing green building industry in British Columbia by providing consulting expertise in designing and implementing green building best practices.  Bigfoot will be formed by a group of professionals with proven experience in successful green building projects and with accredited credentials on LEED™  and REAP green building rating systems.  As a green building consulting firm, Bigfoot’s mission is to provide cost-effective green solutions to homeowners and property development firms.  Bigfoot will provide both the LEED™  system, which is already well known and established, as well as the REAP green building system, which is applicable to residential buildings of all sizes and was initially introduced to meet the gap in standards for standard to residential buildings under four stories. The name Bigfoot Consulting Services is a derivation designed to invoke curiosity at first glance.  Ecological footprint is a concept that refers to the total environmental impact a human contributes during his or her normal activities.  Thus, Bigfoot Consulting aims to reduce the environmental impact of buildings by making them greener, healthier, and more energy efficient.  This name also lends itself to marketing campaigns given that the mythical creature ‘Bigfoot’ is supposed to exist in the Pacific Northwest.  “Does your house have a Bigfoot?  We can help.” 1.3 The Services Offered Bigfoot will offer mainly three kinds of services: non-technical consulting and workshops on green building practices for homeowners; technical consultancy in green building rating systems such as LEED™ and REAP systems for property developers and the construction industry; residential green buildings certifications based on the REAP system.  Services on green building consulting offered by Bigfoot would address the whole life cycle of the building project.  Bigfoot’s professionals will collaborate with their expertise to provide specification reviews and design assessments; set feasible green goals to attain specific REAP or LEED™  level of  7certifications; prepare, coordinate and submit documentation to the green building rating systems; energy assessment and modeling to determine the impact of green building initiatives before implementing those ones; and finally, consulting services on issues in water and energy efficiency, indoor air quality, materials and resources (see exhibit 1.3) 1.3.1 REAPTM  (Residential Environmental Assessment Program)  The majority of the green building rating systems available in the market which are used to certificate the overall green performance of a residential or institutional building,  are    challenging  and costly to adopt.  REAP is an inexpensive, simple and practical environmental assessment method designed to fill the framework gap left by LEED™ , and represents an alternative option to the architect and developer. 2 Market Research and Analysis 2.1 Market Size and Trends  Green building has been the most important environmental issue in the North America for the last ten years.  According to the Canadian Green Building Council, registered LEED™ projects doubled from 2005 to 2006, from 171 buildings to 333 buildingsviii.  In Canada there are 437 registered and 60 certified LEED™ projects as of February 2007ix.  Most of those buildings are governmental (institutional); however CaGBC has been trying to increase the number of residential green buildings.  By 2012 CaGBC expects to have certified 100,000 commercial and 1 million residential homesx.  More locally, in 2005, the total value of GVRD green building permits was $120 million (representing approximately 2 percent of all of the building permits by value)xi.  By 2010, this figure is expected to increase to 5 to 10% of total permit valuesxii.    8A recent survey shows that a majority of the architects, engineers and contractors who serve the green building market do so because they claimed that they expected an increase in their income from green buildingxiii.  Consulting services range from 2-4% percent of the overall construction costs.  In Vancouver there are 12 green building consulting companies that serve the development teams in the design and construction of green buildings. 2.2 Economic Forecast and Estimated Market Share The number of building permits issued in a city is a leading indicator of its construction activity (see exhibit 2.2).  Since 2004, permits obtained in the Greater Vancouver Regional District have been climbing year-over-year.  In 2004, the number of permits grew by 32% from $3.7 billion to $4.8 billion.  In 2005 and 2006, growth slowed to 17%.  For the first seven months of 2007, growth kept pace at 16% year-over-year.  Building permits declined in August due to the civic workers strike in Vancouver, and because of the one-time nature of this event, the months affected by the strike are not included in this forecast. Bigfoot’s future sales depend on four variables: total construction activity, percentage of buildings using green practices, percentage of development expenses that go to green consultancy and certifications, and Bigfoot’s market share.  In order to assess the firm’s viability in different scenarios, a sensitivity analysis shows three different outcomes based on different assumptions for each of these variables. For all the scenarios it is assumed that the total expense for green certifications and consultancies is around 1% of the development expenses.xiv  All scenarios are based on the premise that a 5% of market share is achievable on the first year based on the fact that this is an underserved market and that the consultant hours the firm will have available will allow it to serve that market share.  9The worst-case scenario assumes that the total level of building activity is going to stabilize for the next three years, that the percentage of buildings that take environmental impact into account stays constant at 6% (2006 level), and that the firm’s market share stays constant during the period at 6%.  The moderate scenario assumes that the total level of building activity is going to increase by 5% per annum for the next three years, that the percentage of buildings that take environmental impact into account grows by 1% per year (starting with 6% in 2008), and that the firm’s market share grows by 1% per year during the period starting at 6% in 2008.  The best-case scenario assumes that that the total level of building activity is going to increase by 10% per annum for the next three years, that the percentage of buildings that take environmental impact into account grows by 2% per year (starting with 6% in 2008), and that the firm’s market share grows by 2% per year during the period starting at 6% in 2008. 2.3 Secondary Market Research  A recently conducted survey shows that 53% of Canadians have never heard of the term “sustainability”xv.  Moreover, 70% of the respondents were not able to define sustainability.  Different people inferred different meanings, showing that the market is not yet well defined in terms of a global consciousness as to what sustainability really means.  However, after defining the meaning of sustainability for respondents, 80% claimed that sustainability must be the top priority for Canada as a nation.  Additionally, 90% of Canadians were afraid of the increasing consumption of natural resources and an increasing output of greenhouse gases and waste products are threatening the future welfare of their childrenxvi.  The business community is getting behind green building.  A recent survey shows that 60% of managers believe that green buildings provide benefits for their firms, such as increased productivity, employee satisfaction and less absenteeism xvii.  67% of the surveyed CEOs can  10identify cost benefits of green buildings and 75% of respondents claimed that increasing energy costs will increase the popularity of green buildings among corporations.  Furthermore, 15% of the respondents believe that sustainability is a competitive advantage for their firm, therefore it follows that a green building could, in and of itself, represents a competitive advantage for a corporation, other things being equalxviii.   2.4 Primary Market Research 2.4.1 Green Attitude and green intentions Our survey shows that 51% of respondents believe that living a green life as a consumer is ‘somewhat important’ while 40% believe it is ‘very important’ (n=72, for all figures, see exhibit 2.4).  This varies somewhat with regard to actual green intentions, a question designed to measure willingness to pay in general for a greener product or service.  58% are willing to give up a small amount of money to be green (undefined) and 15% are willing to give up a significant portion of time and money to live greener.   2.4.2 Home ownership and green renovations 43% of respondents owned their own residence and 34% of that group are planning a major renovation in the next 2 years.  Of the 57% who rent their residence, 52% are planning to purchase a residence in the next 2 years.  In a purchasing or renovation decision, 26% of respondents cite green features to be very important, while 58% say they are somewhat important.  Given identical houses or renovation projects, only 4% of respondents show no willingness to pay more for the greener option.  4% are willing to spend less than 1% more, 36% are willing to spend between 1 and 3% more, 22% are willing to spend between 3 and 5% more, and 22% are willing to spend between 5 and 10% more, and 10% of respondents would spend more than 10% of the purchase price of the home or renovation.  Overall, this shows a high  11willingness to pay for greener features, whether in a purchasing or renovation decision.  Therefore, green features represent high marketability.   Similarly, when considering the length of time for energy savings to pay back a project, results were surprisingly positive.  In aggregate, 93% of respondents expect that the project pay for itself in 1 – 6 + years (27% 1-2 years, 31% 2-4, 21% 4-6, 15% 6 + years).  The two most important features in evaluating any purchasing decision were energy and water efficiency.   On the actual expenditure side, respondents are willing to pay a significant amount in order to achieve 30% energy savings annually (14% would spend less than $1,000; 42% between $1,001 and $2,500; 28% $2,501 and $5,000; 17% between $5,001 and $10,000).  While respondents show a need to pay for this expertise, they are less generous in the service fees they would pay for that advice, showing that 49% would part with up to $100, 21% up to $250, and 14% up to $500.  This indicates support at Bigfoot’s recommended rate of $120/hr.  2.4.3 UBC: Sustainable or Green? The purpose of these questions was to measure whether a name including UBC would add value to the branding of the green consulting firm.  The survey shows that the Vancouver public does not particularly associate UBC with green standards and sustainability.  38% agree that UBC is known for these values while 62% disagree (refer to exhibit 2.4 for reasons given).  The survey also shows that the Vancouver public is not more likely to purchase a product or service if UBC was involved in its creation.  Here we see evenly split results (50-50), and so again there is a question of whether using the UBC name and image would add any value to the green consulting firm.   122.5 Customers Bigfoot Consulting will offer its services to two different market segments: the first is the establishments contained in the Construction of Buildings (NAICS 236) category according to the North American Industry Classification year 2002xix.  Thus, customers belonging to this group would be real estate developers, architects, and general contractors.  Due to the volume of business and revenue expected from this group, this will be the most important customer base.  The second group of targeted customers, which will be engaged in phase I of the implementation strategy and fully targeted in phase II, are homeowners undertaking renovations and who want to apply green building principles and techniques in an effort to pollute less and to enjoy energy savings in the long term (see exhibit 2.5) 2.5.1 Targeted Market Segments Geographic Segmentation: Bigfoot Consulting will provide its services primarily to customers and their construction/renovation projects located within Greater Vancouver Regional District (GVRD) which consists of 21 municipalities.  Demographic segmentation: Bigfoot’s customers are homeowners or are in the market to buy a residence and are generally family-oriented.  Also, customers include developers that are looking to differentiate their products by appearing greener and environmentally concerned. Psychographic segmentation: There is a strong appetite for living more greenly in Vancouver.  Customers and end-users of green building are willing to pay more for greener products and services, including primary residences and renovations. Behavioural segmentation: Bigfoot targets customers and end-users who seek energy cost savings and healthier living styles.  This includes the government and institutional users, who may enjoy economies of scale in introducing energy savings.   133 Business Strategy 3.1 Competitor Analysis The Vancouver market for green consulting services is highly fragmented, with many players vying for market dominance (see exhibit 3.1).  The market segments naturally into two groups – larger project design and consultation (commercial and large residential buildings) and smaller projects (single-family homes, smaller apartment complexes).  In the first category, two architectural heavyweights dominate the market: Morrison Hershfield and Busby Perkins + Will.  As such, neither firm is significantly involved in our primary target market. In the residential green consulting sector, the market segments naturally into two clusters: those firms offering comprehensive services and those that fit a niche sector.  In the former group, Recollective, Lighthouse Sustainable Building Centre and eKos offer the greatest array of services while reSource Rethinking Building Inc. also offers help to clients with REAP.  All four firms in this sector have LEED™ accredited professionals. In the niche sector, the competition is varied and each firm appears satisfied to avoid competing with each other as much as possible – however, they are competing on the fringe with some of the comprehensive firms above.  The least offered services across the entire sector are REAP consulting, full feasibility studies and costing, green marketing and promotion of existing or new projects, and energy audits of new or existing residences.  This under-serviced cross-section of services appears to offer the greatest opportunity to a potential entrant.   3.2 Competitive Advantages The competitive advantage of Bigfoot Environmental Solutions is three-fold: first, we have a unique intellectual asset in the form of the REAP green building rating system.  The  14certification process is owned by UBC and while other firms can help consult to its requirements, only UBC can certify a building to REAP standards.  REAP is also more user (designer) friendly and cost efficient.   Second, while Bigfoot is the front-end of the consulting firm, UBC is its backbone, and the UBC name stands for trust, openness, and honesty – three virtues that do not coexist in Bigfoot’s primary competition.   Last, Bigfoot Consulting can draw on 11 years of experience in green building and sustainable community planning that the UBC Sustainability has acquired.  This is a substantial resource to draw in with respect to the competition at market (see Exhibit 3.2) 3.3 Overall Marketing Strategy Bigfoot Consulting will initially position itself as a UBC-certified, green consulting firm that offers both REAP and LEED™ consulting assistance to GVRD property development.  In this way, the team hopes to leverage the UBC name as a source of trust for Bigfoot Consulting while limiting some of the negative association of academia as Bigfoot Consulting is positioned as an efficient, fast-moving, professional green consulting service.  Maintaining the primacy of the Bigfoot logo over the UBC logo in advertising demonstrates the positioning advantage as it relates to both brands.  As the growth strategy progresses through phase III, the UBC logo is reduced in size and positioned toward the by-line as a stamp of approval.    By offering consulting support for the LEED™ standard, Bigfoot establishes a point of parity with its competition.  The REAP green building system establishes a point of difference between Bigfoot and the competition.  153.3.1 Value Proposition Drawing on 11 years of green building experience, our solutions provide our customers with energy savings while reducing their ecological footprint.  Bigfoot offers the convenience of one-stop shopping, including REAP, a cost effective, proven certification process that provides better value and a truer environmental standard than other residential green building rating systems. 3.3.2 Pricing  Part of Bigfoot’s strategy is to keep pricing simple.  While primary market research shows that there is support for $80 - $200 per hour on the B2C side pricing of green building consulting, Bigfoot will charge a flat rate of $120 per hour (measured in 15 min portions).  This is based on the idea that enough useful energy efficiency advice can be dispensed to a homeowner in one to two hours to reduce his or her energy spend by a significant percentage annually.  The Lighthouse Sustainable Building Centre demonstrates support for this price level by offering its Home Spa Treatment, which includes a home visit for $200 plus an hourly charge.  On the B2B side, the market shows support for green technical consulting fees of up to $150 per hour.  LEED™ certification shows that a rule of thumb for design of a green building is in the $1,500 to $2,000 range, per LEED™ point required.  That means that a LEED™ silver rating would cost approximately $75,000xx.  By contrast, most REAP projects require far fewer consulting hours.  REAP certification will be offered for all new residential buildings for $5,000 without any performance levels. 3.3.3 Advertising and the Marketing Calendar By designing advertising campaigns in-house the consultants will fill non-consulting support, non-revenue generating hours.  It will be a primary function of the consultants to  16improve the marketed message to both the B2B and B2C markets continuously.  In this way Bigfoot will avoid costly advertising design expenditures.    Highlights of the marketing calendar include a January press release (please refer to exhibit 3.3.3) to be sent to all development professionals in the Lower Mainland, detailing the new name and product offering of Bigfoot Consulting, along with available promotional material.  In February, Bigfoot will attend the BC Construction and Home Reno Show in Vancouver and offer an information booth detailing the benefits of REAP and greening your own home.  To follow this up, Bigfoot will sponsor and largely produce a Greening Your Home guide insert in a weekend edition of The Vancouver Sun during March.  In April, Bigfoot deploys an internet ad campaign featuring Google AdSense, following this with medium magazine advertising (see appendix 5) in the months of May and June.  July and August are dedicated to due diligence for a Bigfoot Green Supplier Network that gathers all available information pertaining to suppliers in one resource.  Distribution follows bi-annually to the subscribers of the Bigfoot Solutions free quarterly newsletter, which itself offers syndicated green news.  Eventually, the newsletter will become a source of advertising revenue to Bigfoot Consulting.  “Are you a Bigfoot?” launches in selected VSB schools in September, followed by a guest lecture series in October in conjunction with the SO.  Last, in November Bigfoot will attend the Construct Canada conference and offer a REAP booth to spread news of its GVRD successes with the certifications in 2008.  Year-end marketing review and strategic planning occurs in December, where Bigfoot will review its core positioning strategy to be synonymous in people’s minds with green building practices. 3.4 Entry and Growth Strategy Bigfoot Consulting will enter the green building market in three phases in order to limit financial risks early in its existence and to prove up the market depth and potential for  17profitability (see exhibit 3.4).  In phase I, the target market for Bigfoot is primarily REAP certification for off-campus, residential development, with green building consulting services as a secondary offering to both large and small potential customers.  Alison Alosio, currently the advisor of Sustainable Buildings for the UBC Sustainability Office, will run the day-to-day operations as manager of Bigfoot, in addition to offering both REAP and LEED™ consulting services.  Bigfoot will add one green consulting professional in order to meet anticipated demand and for future growth potential, particularly in home green consulting services.  Advertising and promotion in this phase is limited to important trade and convention shows as well as limited internet and print deployment.  Bigfoot will operate under the Sustainability Office in the University Building Services building during phase I.    Phase II is triggered when both phase I professionals achieve 60% revenue-generating consulting hours by capacity over any one month period, and as long as Bigfoot is profitable after one year.  In phase II, the strategy calls for Bigfoot to relocate off campus in order to brand position itself as distinct from UBC.  The B2B and B2C markets are targeted equally at this juncture, and another LEED™ professional is hired to meet increased demand.  Alison will train this new hire in REAP assessment in order to increase B2B potential customers.  Advertising and promotional budget is increased in order to generate requisite growth targets for Phase III.  In this stage, the REAP certification process and REAP green consulting are separated, with the actual certification process routing through the SO and consulting work done entirely by Bigfoot.  This step is required in order to ensure the quality and independence of the REAP certification and governing body from the consulting revenue generating arm of UBC, now Bigfoot Consulting.  Phase III is implemented when all phase II professionals achieve 60% revenue-generating consulting hours by capacity over any one month period, and as long as Bigfoot remains  18profitable.  Phase III of growth requires adding a fourth green consulting professional as anticipated demand is exceeded in the B2C offering of services.  Full marketing deployment occurs in Phase III and Bigfoot is operated as a distinct, for-profit entity under the purview of the SO at UBC. 4 Implementation  4.1 Development Status and Tasks Bigfoot’s products that are aimed to the construction industry (green consulting expertise, LEEDTM support, and REAP certification) are fully developed and are therefore available to potential off-campus customers immediately.  However, a product that will need to be developed, and in which Bigfoot’s proposed personnel have not had any experience, is green consulting targeted to homeowners.  Expertise on this matter will have to be acquired before launching the company (if this segment market wants to be pursued.)  Thus, it would be ideal if the new hire in phase I possesses experience or knowledge on this field; otherwise extensive training will be required with the subsequent potential delay on the offer of this service.  4.2 Difficulties and Risks There are some potential problems that might arise in certain phases of the implementation:   Phase I – First, the current LEED™ certified consultant is overloaded with in-campus projects (or previous commitments) and thus is unable to commit consulting time to Bigfoot off-campus customers.  Second, due to a restricted budget, the Sustainability Office at UBC cannot allocate the required resources for the new hire and therefore Bigfoot cannot formally be launched to compete in the green building consulting industry. Phase II – Due to a shortage of LEED™ certified experts, Bigfoot is unable to hire an appropriate candidate.  BC has the second largest number of LEED™ certified people (641) in  19Canadaxxi; however if the trend on demand for green building expertise continues to grow at the current rates we could soon see an even greater shortage of qualified consultants.  This would imply that Bigfoot would have to hire an uncertified individual pursuing his LEED™ certification as a career path.  In this case, our projected financial analysis would be materially different as Bigfoot would have to incur the extra cost of professional development until the new hire becomes LEED™ certified. 4.3 Product Improvement and New Products We are going to provide consulting for both LEED™ and REAP.  LEED™ is currently the market leader and well-known green building rating system for mostly commercial buildings and residential buildings over four floors.  However, recently there is a plot rating system for homes called LEED™ for Homesxxii.  In the future we may adopt this rating system depending on the demand.  So far REAP can meet the demand for homes from one floor to skyscrapers and commercial buildings.  Because REAP has smoother process to apply and get the certification than LEED™, we will focus on REAP for the residential market. 5 Operations 5.1 The Consultant-Client Relationship  Whenever possible, Bigfoot will assign one consultant only to a client to work with through the consulting process.  Project specifications and optimal output are discussed and agreed upon before the relationship is formalized.  All consultants will be rigorously trained in communication policies to ensure that Bigfoot’s output matches the client’s expectations of the green building consulting. Bigfoot Consulting will strengthen its competitive advantage through relationship building.  Once a project has been completed, the consultant will keep in contact with the  20developer and will periodically review city files in order to find which new developments permits has been granted to existing clients. 5.2 Corporate Social Responsibility Besides the environmental benefits that Bigfoot Consulting will bring through its consulting business, we will attempt to grow the green services market through promotional strategies that help all participants in the market as well as the community at large.  To achieve this, Bigfoot will carry out marketing campaigns that educate Vancouver’s youth in the need to live greener lives and reduce their ecological footprint. 5.3 Regulatory and Legal Issues  Green building is one of most important subjects for the City of Vancouver.  The City of Vancouver has been trying to create incentives for green housing construction and in 2005 published a report discussing the environmental impact created by non-green buildings.  In July 2004, the city of Vancouver council created a policy that new civic buildings greater than 500 square meters are required to have LEED™ Gold certification.  In 2005, The City of Vancouver Council approved that Southeast False Creek Athlete’s Village is required LEED™  Gold and LEED™  Silver for the any other buildings in the areaxxiii.  The City of Vancouver has a long-term commitment to improve the environmental quality in the new buildings which will affect a huge amount of new buildings in the future.  This bodes well for Bigfoot Consulting. 6 Management Team 6.1 Organization The organization of the new consulting firm will be similar to a model usually used for business consulting firms.  The consulting title: Business Consulting: A Guide to How it Works and How to Make it Work, provides a framework for the Bigfoot consulting model. xxiv  21When implementing the working policies in a consulting firm, it is vital to achieve a high utilization rate of the consultants working hours, ensuring that 60% of the consultants’ salaried time is revenue generating.  In order to achieve this, a base of full time consultants will be required.  These consultants will be compensated on a full-time basis.  The required compensation for consulting professionals with LEED™ certification is between $70,000 and $100,000.  Most have a background in engineeringxxv.   Bigfoot will have a core of 3-4 salaried consultants.  In addition to the full-time consultants, Bigfoot will also need a set of part-time consultants.  These part-time consultants can be final-year electrical engineering students, some of whom may have LEED™  certification, and all of whom will be trained at UBC on the REAP evaluation system.  6.2 Key Management Personnel and Compensation Alison Alosio will start as the manager of Bigfoot.  In phase II or III, Bigfoot will appoint a Manager with previous experience in managing consulting firms.  The Manager will report on a bi-weekly basis to the Sustainability Office (refer to exhibit 6.2 for organizational chart.) In order to attract new hires without stressing the initial budget, we will use financial incentives for consultants based on three aspects: the firm’s earnings; the amount of business they bring into the firm; and customer satisfaction.  These incentives effectively align the consultants’ objectives with the firms’ objectives.  The efficacy of this compensation scheme is based on the fact that the consultants have a high level of control over the outcomes that determine the firm’s overall performance. Earnings are included in the calculation because, being a small firm, each consultant results will have a big impact on the firm’s result.  Also, this compensation will foster teamwork  22and will generate appreciation for the highest achievers (by creating a larger pay increase for everyone) instead of envy. The bonus is based on the amount of business brought to the firm is perfectly aligned with the firm’s interest as long as the consultants do not become push-sellers.  The balance between selling the required services and not overselling the client will be achieved through the client satisfaction bonus, which will depend on the results of the satisfaction surveys regularly sent to clients.  (Clients will be encouraged to fill the small surveys by receiving firm’s items like pens, calculators, etc) 7 The Economics of the Business 7.1 Revenue Structure Bigfoot’s revenues will be generated from the sale of consulting hours and REAP certifications.  The main source of revenues is going to be the green building consulting services, which is currently underserved, and REAP will offer a secondary revenue stream.  The sales volume from the certification stream will not determine the firm’s survival.  However, if REAP gains traction in the market, can outgrow the consulting operation and eventually become the company main business.  (See all financial statements in exhibit 7.1). Consultants working hours will be of three types: billable hours, non-billable hours (hours dedicated to support services and professional development), and hours dedicated to actual REAP certification.  Even though REAP projects are not charged by the hour, it takes approximately twelve hours to complete a REAP certification.xxvi For the first quarter, consulting billable hours and REAP hours are expected to start at a level of 35% of the consultants working time.  Based on consulting industry standards an efficient level of billable hours is 60%, as the remaining time is usually required in non-billable  23work.  Given that the company is serving an underserved market, it is reasonable to assume that the company will operate close to full capacity (60% of hours are billable) after a few months.  Serving an underserved market should reduce the effect of seasonality on demand.    7.2 Expenses Bigfoot’s main expenses are personnel salaries and benefits, which represent 78% of first year expenses.  REAP and LEED™ professionals receive a salary including benefits of $80,000 annually, whereas green building consultants receive remuneration of $60,000xxvii.  Salary expenses increase as personnel is added in each growth phase. 7.3 Investments Bigfoot will require $50,000 capital for start-up from UBC in order to cover short-term costs and the addition of one salaried consultant to operate under this business plan.  An initial investment of $15,000 on computer and equipment is required in 2008.  During 2008 and 2009, the company will invest an additional $3,000 on computers.  The expected life of the computers is three years.  Profits will be disgorged to UBC as dividends annually. 7.4 Financial performance Bigfoot will be able to reach its breakeven point in the first quarter and should realize a profit of $5,555.  This will be possible because of the extremely low fixed cost structure and the high demand for its services.  The company will be able to payback the original loan of $50,000 in the third quarter. Bigfoot’s quality of earnings should be extremely high since there will not likely be accounts receivable nor accounts payable as a large percentage of business will be conducted in cash.  The net income before taxes for the first, second and third years are $122,025, $160,383 and $237,601 generating a profit margin of 40%, 37% and 40% respectively.  248 Critical Risks, Problems, and Assumptions  1. Construction and/or green building industry slow down.  Thus, the numbers provided and projected does not reflect the reality (way off).  Sales projection not achieved.  Depending at what stage of the project this happens, we’ll experience losses.  However; being a consulting firm most of the cost are variable (consulting wages), thus the highest fixed cost we could incur would be the lease agreement for the office space. 2. The residential construction industry, one of the targeted segments, is not engaged in green building practices as expected.  Market is not ready for this kind of services yet.  Even though the number of construction projects increases, the number of green building projects stays the same or even decreases.  3. Association with UBC makes it more difficult to initially attract and retain top consulting talent.  Public sector corporations are viewed as large and lethargic, very bureaucratic.  Also, salaries appear lower and less competitive, despite public-sector benefits including many holidays, etc.  We mitigate the risk by positioning Bigfoot as a private, sleek, and efficient for-profit arm of UBC. 4. New green building certifications arrive on the Canadian market in force and shrink expected market share for REAP certifications to off-campus development.  The potential risk is mitigated by immediately offering REAP to off campus customers. 5. Eventually, the REAP certification body and Bigfoot must be separated to ensure good optics and the independence of the certification and the consulting support.  While revenue generated from certification is accounted for in Bigfoot’s income statements, this might change if the separation permeates accounting policies, though the point is moot to UBC’s bottom line as the sole investor.  25Appendices Exhibit 1.1 – LEED™ Canada by building typesxxviii  Exhibit 1.3 – Segmentation of Services by Customer Category                             Customers  Construction Industry   Services Homeowners (undertaking renovations) Residential Projects Non-Residential Projects Green Consulting Expertise X X X LEEDTM Support  X X REAP Certification  X   Exhibit 2.3 – Construction Permits for GVRDConstruction Permits for GVRD012345671989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006$ billions  26Exhibit 2.4 – Primary Market Research    27 28  29         30Exhibit 2.5 – Customer Segmentation  Exhibit 3.1 – Green Building Consulting Services, Vancouver, 2007 Sector/ Competitor Architect Energy Audit LEED REAP Green Building Tours Home Environ-mental Assessment Full Feasi-bility Study New Project Reno-vation Comprehensive Residential          Brantwood Design and Consulting X  X     X X Resource Rethinking Building X  X X    X X eKos Building Solutions X X X   X  X X Recollective X X X  X  X X X Lighthouse Sustainable Building Centre  X X   X  X X Niche Residential          EcoTek Ecological Technological Technologies        X  Eco-Integration   X     X X Oasis Indoor Environmental Testing and Consulting      X   X JMH Home Environmental Solutions      X    Large Commercial          Morrison Hershfield Ltd X  X     X X Busby Perkins and Will X  X         Construction of Buildings (NAICS 236) Residential Building ConstructionNon -residential Building ConstructionIndustrial Commercial Institutional Homeowners undertaking renovationsB2C B2B Bigfoot Customers  31Exhibit 3.2 – Strategic Cluster Map                       One-stop Shopping High Y:   Experience + Expertise Low X: Product line offeredBigfoot/ UBC Busby Perkins and Will Recollective eKos   Lighthouse Sustainable Building Centre Specialty/limited Offering Morrison Hershfield Ltd. Brantwood Design EcoTek JMH reSource Rethinking Eco-Integration  32Exhibit 3.3.3 - Marketing Calendar for B2C and B2B or both    Jan Feb March Apr May June July Aug Sept Oct Nov DecMarketing Activity     Information packets to all developers, architects BC Construction and Home Reno Show (Feb 13-14) Greening your home guide, Vancouver Sun Full internet ad campaign (runs all year) Magazine ads in BC Business, Vancouver, BIV Magazine ads in BC Business, Vancouver, BIV Bigfoot Dealer Supplier Network Setup Bigfoot Dealer Supplier Launch Are you a Bigfoot?  At Vancouver Schools An Evening with Bigfoot at UBC Construct Canada Year End PlanningMarketing Material Coffee mugs, promo magnets REAP information, Greening your home reno booth Articles, ads, promotion material In house design of ads In house design In house design DD DD Leaflet handouts for kids to take home to Mom and Dad Distinguished Lecture Series, Guest Speakers TBA REAP booth  Expected Cost 1000 1500 2000 5000 2500 2500 1000 1500 1000 1000 2500 0 33         Marketing Exhibit 3.4 – Three-Phase Strategy Operations Products/ Services Phase III Growth Phase II Consolidation • REAP Certification • Green Building  Consulting services (REAP, LEED,  Municipalities, etc) Key Personnel  1 LEED certified consultant 1 green building consultant   Facilities UBC Campus Office Key Personnel  1 LEED certified consultant 2 green building consultant   Facilities Office off-campus Key Personnel  2 LEED certified consultant 2 green building consultant   Facilities Office off-campus Phase I  Entry Year two: profitable Capacity: 60% Year one: profitable Capacity: 60% • Low advertising (trade shows, industry magazines, workshops, etc) • Promotion of Bigfoot Consulting and its linkage to UBC  • Moderate advertising • Prioritize Bigfoot brand on promotions. Gradual dilution of linkage to UBC name  • Moderate/high advertising • Bigfoot brand name full marketing deployment (linkage with UBC name not use anymore) • REAP Certification • Green Building  Consulting services (REAP, LEED,  Municipalities, etc) • REAP Certification • Green Building  Consulting services (REAP, LEED,  Municipalities, etc)  34Exhibit 6.2 – Organizational Chart of Bigfoot Consulting  Manager (LEEDTM Certified) Alison A. LEEDTM Certified Consultant Green Building ConsultantGreen Building Consultant UBC Sustainability Office Bigfoot Consulting  35Exhibit 7.1 – Financial Statements for Bigfoot Consulting     Bigfoot Consulting        Forecasted Income Statement       For the year ending Dec 31, 2008Jan-March 08 April-Jun 08 Jul-Sept 08 Oct-Dec 08 AccumulatedRevenues:Consulting 40,320            63,360                51,840             56,200              211,720            REAP 10,000           20,000              45,000           15,000             90,000                    Total revenue 50,320            83,360                96,840             71,200              301,720             ExpensesSalaries and benefits 35,000            35,000                35,000             35,000              140,000            Office rent -                  -                     -                   -                    -                    Utilities -                  -                     -                   -                    -                    Telephone, cell,  internet, fax line 760                 510                     510                  510                   2,290                Insurance costs (liability) 600                 600                     600                  600                   2,400                Professional services 500                 -                     -                   -                    500                   Offices supplies 300                 300                     300                  300                   1,200                Business Licenses and permits 205                -                   -                 -                   205                   Business membership expenses 300                 300                     300                  300                   1,200                 Advertising and promotion 4,500              10,000                3,500               3,500                21,500              Travel expenses 450                450                   450                450                  1,800                Professional development -                  -                     -                   -                    -                     Miscellaneous 300                 300                     300                  300                   1,200                Other expenses 600                 600                     600                  600                   2,400                Depreciation 1,250              1,250                  1,250               1,250                5,000                        Total Expenses 44,765            49,310                42,810             42,810              179,695             Net operating income 5,555              34,050                54,030             28,390              122,025             Interest expenses -                  -                     -                   -                    -                     Net income 5,555             34,050              54,030           28,390             122,025            Paid dividends 50,000              Profit Margin 11% 41% 56% 40% 40%Break-even sales 179,695              36     Bigfoot Consulting        Forecasted Income Statement       For the year ending Dec 31, 2009Jan-March 09 April-Jun 09 Jul-Sept 09 Oct-Dec 09 AccumulatedRevenues:Consulting 69,120            92,329                77,760             72,000              311,209            REAP 25,000           25,000              50,000           20,000             120,000                  Total revenue 94,120            117,329              127,760           92,000              431,209             ExpensesSalaries and benefits 50,000            50,000                50,000             50,000              200,000            Office rent 6,200              4,650                  4,650               4,650                20,150              Utilities 450                 450                     450                  450                   1,800                Telephone, cell,  internet, fax line 815                 690                     690                  690                   2,885                Insurance costs (liability) 900                 900                     900                  900                   3,600                Professional services 808                 808                     808                  808                   3,231                Offices supplies 300                 300                     300                  300                   1,200                Business Licenses and permits 110                -                   -                 -                   110                   Business membership expenses 300                 300                     300                  300                   1,200                 Advertising and promotion 4,500              10,000                3,500               3,500                21,500              Travel expenses 788                788                   788                788                  3,150                Professional development 600                 600                     600                  600                   2,400                 Miscellaneous 300                 300                     300                  300                   1,200                Other expenses 600                 600                     600                  600                   2,400                Depreciation 1,500              1,500                  1,500               1,500                6,000                        Total Expenses 68,170            71,885                65,385             65,385              270,826             Net operating income 25,950            45,444                62,375             26,615              160,383             Interest expenses -                  -                     -                   -                    -                     Net income 25,950           45,444              62,375           26,615             160,383            Profit Margin 28% 39% 49% 29% 37%Break-even sales 270,826              37     Big foot Consulting        Forecasted  Income Statement       For the year ending Dec 31, 2010Jan-March 2010 April-Jun 2010 Jul-Sept 2010 Oct-Dec 2010 AccumulatedRevenues:Consulting 101,140            116,352              109,440           109,440            436,372            REAP 35,000            30,000              60,000           30,000             155,000                  Total revenue 136,140            146,352              169,440           139,440            591,372             ExpensesSalaries and benefits 70,000              70,000                70,000             70,000              280,000            Office rent 4,650                4,650                  4,650               4,650                18,600              Utilities 450                   450                     450                  450                   1,800                Telephone, cell,  internet, fax line 995                   870                     870                  870                   3,605                Insurance costs (liability) 900                   900                     900                  900                   3,600                Professional services 808                   808                     808                  808                   3,231                Offices supplies 300                   300                     300                  300                   1,200                Business Licenses and permits 110                 -                   -                 -                   110                   Business membership expenses 300                   300                     300                  300                   1,200                 Advertising and promotion 4,500                10,000                3,500               3,500                21,500              Travel expenses 1,181              1,181                1,181             1,181               4,725                Professional development 900                   900                     900                  900                   3,600                 Miscellaneous 300                   300                     300                  300                   1,200                Other expenses 600                   600                     600                  600                   2,400                Depreciation 1,750                1,750                  1,750               1,750                7,000                        Total Expenses 87,744              93,009                86,509             86,509              353,771             Net operating income 48,396              53,343                82,931             52,931              237,601             Interest expenses -                   -                     -                   -                    -                     Net income 48,396            53,343              82,931           52,931             237,601            Profit Margin 36% 36% 49% 38% 40%Break-even sales 353,771                       Bigfoot Consulting        Forecasted  Balance Statement       As of December 31, 2007 December 31, 2008 December 31, 2009 December 31, 2010Cash 35,000.00                 109,025.0                272,408.2                517,009.2                 Prepaid Expenses -                           Equipment 15,000.0                    18,000.0                    21,000.0                    21,000.0                    Accumulated depreciation -                           5,000.0-                     11,000.0                  18,000.0                   Total Assets 50,000.00                  122,025.00                304,408.23                556,009                     Retained Earnings -                            122,025.00                304,408.2                  556,009.2                  Capital Contribution 50,000.00                 Total Equity 50,000.00                  122,025.00                304,408.23                556,009                                  Bigfoot Consulting        Cash Flow Statement       For the Period Ending December 31, 2008 December 31, 2009 December 31, 2010Operating Activities:Net income 122,025                       160,383                   237601Depreciation fixed assets 5,000                          6,000                     7,000                       Cash Flow from Op. act. 127,025                       166,383                   244,601                    Investing activities:equipment 3,000-                           3,000.00-                  0Financing activities:Dividens Paid 50,000-                         0 0Net Cash Flow 74,025                        163,383                 244,601                           39  Sales Structure and use of employees time 2008Jan-March 08April-Jun 08Jul-Sept 08Oct-Dec 08 Accumulated Consultin g % hours Billed HoursRevenue% hours Billed HoursRevenue% hours Billed HoursRevenue% hoursBilled HoursRevenue Billed HoursRevenueREAP and LEED Green building Consultant35.0%16820,160       55%26431,680       45%21625,920       50%24028,800    888      106,560     REAP and Green Building Consultant35.0%16820,160       55%26431,680       45%21625,920       48%22827,400    876      105,160     Total336                40,320       528      63,360       432                51,840       468          56,200    1,764   211,720     REAP Certifications% hoursUsed HoursNum. cert.Revenue % hoursUsed HoursNum. cert.Revenue% hoursUsed HoursNum. cert.Revenue% hoursUsed HoursNum. cert.RevenueUsed HoursTotal Cert.RevenueREAP and LEED Green building Consultant2.5%1215,000         5.0%24210,000       12.5%60525,000       5.0%24210,000    120      1050,000       REAP and Green Building Consultant2.5%1215,000         5.0%24210,000       10.0%48420,000       2.5%1215,000      96        840,000       Total24                  2          10,000       48        4      20,000       108                9         45,000       36            3          15,000    216      1890,000       Total% hoursHoursRevenue % hoursHoursRevenue% hoursHoursRevenue% hoursHoursRevenueUsed HoursTotal CertRevenueREAP and LEED Green building Consultant37.5%18025,160       60.0%28841,680       57.5%27650,920       55.0%26438,800    1,008   10156,560     REAP and Green Building Consultant37.5%18025,160       60.0%28841,680       55.0%26445,920       50.1%24032,400    972      8145,160     Total360                50,320       576      83,360       540                96,840       504          71,200    1,980   18301,720     Sales Structure and use of employees time  2009Jan-March 09April-Jun 09Jul-Sept 09Oct-Dec 09 Accumulated Consulting % hours Billed HoursRevenue% hours Billed HoursRevenue% hours Billed HoursRevenue% hours Billed HoursRevenue Billed HoursRevenueREAP and LEED Green building Consultant40%192                23,040       52%251      30,121       45%216                25,920       45%216          25,920    875      105,001     Green Building Consultant40%192                23,040       54%259      31,104       45%216                25,920       40%192          23,040    859      103,104     Green Building Consultant40%192                23,040       54%259      31,104       45%216                25,920       40%192          23,040    859      103,104     Total576                69,120       769      92,329       648                77,760       600          72,000    2,593   311,209     REAP Certifications% hoursUsed Hoursum. cert.Revenue% hoursUsed HoNum. Revenue% hoursUsed HoursNum. ceRevenue% hoursUsed HourNum. ceRevenueUsed HoursTotal Cert.RevenueREAP and LEED Green building Consultant5%24                  2          10,000       5%24        2      10,000       10%48                  4         20,000       5%24            2          10,000    120      1050,000       Green Building Consultant5%24                  2          10,000       5%24        2      10,000       8%36                  3         15,000       3%12            1          5,000      96        840,000       Green Building Consultant3%12                  1          5,000         3%12        1      5,000         8%36                  3         15,000       3%12            1          5,000      72        630,000       Total60                  5          25,000       60        5      25,000       120                10       50,000       48            4          20,000    288      24120,000     Total% hoursHoursRevenue% hoursHoursRevenue% hoursHoursRevenue% hoursHoursUsed hoursRevenueREAP and LEED Green building Consultant45%216                33,040       57%275      4012155%264                45,920       50%24035,920    995      155,001     REAP and Green Building Consultant45%216                33,040       59%283      41,104       53%252                40,920       43%20428040955      143,104     Green Building Consultant43%204                28,040       57%271      36,104       53%252                40,920       43%204          28,040    931      133,104     Total636                94,120       829      117,329     768                127,760     648          92,000    2,881   431,209     Sales Structure and use of employees time 2010Oct-Dec 10Consulting % hours Billed HoursRevenue% hours Billed HoursRevenue% hours Billed HoursRevenue% hours Billed HoursRevenue Billed HoursRevenueREAP and LEED Green building Consultant46%219                26,260       52%250      29,952       45%216                25,920       50%240          28,800    924      110,932     Green Building Consultant45%216                25,920       50%240      28,800       50%240                28,800       45%216          25,920    912      109,440     Green Building Consultant45%216                25,920       50%240      28,800       50%240                28,800       50%240          28,800    936      112,320     REAP and LEED Green building Consultant40%192                23,040       50%240      28,800       45%216                25,920       45%216          25,920    864      103,680     Total843                101,140     970      116,352     912                109,440     912          109,440  2,772   436,372     REAP Certifications% hoursUsed HoursNum. ce rRevenue% hoursUsed HoNum. Revenue% hoursUsed HoursNum. ceRevenue% hoursUsed HourNum. ceRevenueHours UsedTotal CertRevenueREAP and LEED Green building Consultant5%24                  2          10,000       5%24        2      10,000       10%48                  4         20,000       5%24            2          10,000    120      1050,000       Green Building Consultant5%24                  2          10,000       3%12        1      5,000         5%24                  2         10,000       5%24            2          10,000    84        735,000       Green Building Consultant5%24                  2          10,000       3%12        1      5,000         5%24                  2         10,000       3%12            1          5,000      72        630,000       REAP and LEED Green building Consultant3%12                  1          5,000         5%24        2      10,000       10%48                  4         20,000       3%12            1          5,000      276      840,000       Total84                  7          35,000       72        6      30,000       144                12       60,000       72            6          30,000    552      31155,000     Total% hoursHoursRevenue% hou rHoursRevenue% hoursHoursRevenue% hoursHoursHours UsedRevenueREAP and LEED Green building Consultant51%243                36,260       57%274      39,952       55%264                45,920       55%264          38,800    1,044   160,932     REAP and Green Building Consultant50%240                35,920       53%252      33,800       55%264                38,800       50%240          35,920    996      144,440     Green Building Consultant50%240                35,920       53%252      33,800       55%264                38,800       53%252          33,800    1,008   142,320     REAP and LEED Green building Consultant43%204                28,040       55%264      38,800       55%264                45,920       48%228          30,920    3,048   143,680     Total927                136,140     1,042   146,352     1,056             169,440     984          139,440  3,048   591,372      Accumulated Jul-Sept 10April-Jun 1 0Jan-March 10 40  Endnotes                                                  i www.sustainablebuildingcentre.com/event/green_building_codes_and_policies ii BC Green Building Code Initiative, Information Bulletin,  No. B07-03 June 22, 2007   www.housing.gov.bc.ca/building/bulletins/B07_03_BC_Green_Building_Code.pdf iii Green Building in Canada: Overview   iv Green Building in Canada: Overview  http://www.cted.wa.gov/DesktopModules/CTEDPublications/CTEDPublicationsView.aspx?tabID=0&ItemID=1988&MId=877&wversion=Staging v  U.S Green Building Council http://www.usgbc.org/DisplayPage.aspx?CategoryID=1306 vi 2004 Policy Report – Green Building Strategy for Vancouver vii Why Build Green? November 2003, http://www.gvrd.bc.ca/buildsmart/building-green.htm viii www.greenalberta.ca/trends.php ix Forest Stewardship Council Canada http://www.fsccanada.org/woodmarket.htm x www.greenalberta.ca/trends.php xi DEVELOPING MUNICIPAL CODES & POLICIES TO ENCOURAGE GREEN DEVELOPMEN. Bennett, Rob. www.cascadiagbc.org/resources/presentation/greening-the-building-code-06-29-07/BennettGreenCode_062907.pdf.  Nov 20, 2007. xiiBooming Green Building Market Continues to Grow. Fisher, Jeanette Joy 2006  http://ezinearticles. com/?Booming-Green-Building-Market-Continues-to-Grow&id=179435 xiii Booming Green Building Market Continues to Grow. Fisher, Jeanette Joy 2006  http://ezinearticles. com/?Booming-Green-Building-Market-Continues-to-Grow&id=179435 xiv Analyzing the Cost of Obtaining LEED Certification, Northbridge Environmental Management Consultants 319 Littleton Road, Suite 208 Westford, MA 01886  http://www.cleanair-coolplanet.org/for_communities/LEED_links/AnalyzingtheCostofLEED.pdf xv Communicating Sustainability March 2006, James Hoggan + Associates Inc.   http://www.hoggan.com/sustainability.html xvi Communicating Sustainability March 2006, James Hoggan + Associates Inc.   http://www.hoggan.com/sustainability.html xvii http://web.ebscohost.com/ehost/detail?vid=1&hid=12&sid=e039ec96-e261-41af-a96d-d774c8e6586%40SRCSM1 xviii http://web.ebscohost.com/ehost/detail?vid=1&hid=12&sid=e039ec96-e261-41af-a96d-d774c8e6586%40SRCSM1 xix NAICS classifcation. http://stds.statcan.ca/english/naics/2007/naics07-class-search.asp?criteria=236.  November 15, 2007. xx Primary research phone interview with architect Carlos Aller, November 17, 2007.   xxi http://www.cagbc.org/leed_ap/directory.php.  November 20, 2007. xxii http://www.usgbc.org/DisplayPage.aspx?CMSPageID=147 xxiii City of Vancouver Policy Report Environment November 3, 2005 http://www.city.vancouver.bc.ca/ctyclerk/cclerk/20051103/documents/pe5.pdf xxiv Business Consulting: A Guide to How it Works and How to Make it Work by Gilbert Toppin and Fiona Czerniawska xxv Monster.com xxvi Interview with Allison Alosio, UBC Sustainability Office. xxvii Market salaries in  Canada for LEAD accredited professional range between $ 70 000 and $ 100 000 a year. Monster.ca xxviii The Green Building Development Shift, May 2007, Canada Green Building Council http://www.cec.org/pubs_docs/documents/index.cfm?varlan=ENGLISH&ID=2155 

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