Structural Insulated Panels (SIP’s) are a building material that consists of a foam core
sandwiched between structural facings. SIP’s act as a replacement for traditional materials in the house
building process and offer many benefits to builders and residents of houses that are built with the
material. For builders, SIPs remove multiple steps in the building process like traditional framing,
insulation and drywalling. Future residents will benefit from increased energy efficiency within their
house.

 

Riverview Homes is looking to become a player in the SIP industry by supplying SIP’s for an
initial project in Northern Ontario. The business is looking to order SIP's from a supplier in China, import
the SIP's to a storage facility in Northern Ontario, cut the appropriate windows and doors into the SIP's,
and ultimately supply a builder with enough SIP's to build 50+ potential homes. While this is a singular
project to start, the capital that would be obtained through supplying SIP's for this project could
potentially help to fund further business supplying SIP's to more contractors throughout Ontario which
would be a huge win for Riverview Homes. The best-case scenario for this venture is to become a
leading supplier of SIP's throughout Canada years down the road. When entering a new business
venture like this SIP project, it is important to ensure that all business elements are thoroughly thought
through before spending money on the project. The aim of this report is to give an overview of the
business as a whole and assess the feasibility of the project. If Riverview Homes can complete this initial
project and supply the SIP's to the Northern community, additional SIP projects and more financial
benefits are most certainly in the future for Riverview Homes. This report will outline a plan to ensure
that this initial SIP request can be completed while mitigating risks.

 

 

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THERMAPAN is a manufacturer of SIP's based out of Ontario.

What is their strategy?
They offer quotations based off the floor plan for the build which can be submitted on their website.

What products do they offer?
- Exterior Wall Panels
- Foundation Panels
- Frost Wall Panels
- Roof & Ceiling Panels
- Floor Panels
- Nailbase Panels

How do they support builders?
Given the nature of the SIP industry, there is a learning curve for contractors to use the technology.
Since this is the case, it is important for suppliers to provide contractors with some sort of educational
material that shows how to install the SIP's. Thermapan offers multiple different resources to their
contractors as a way of supporting the installation process.
- SIP Science Video Series
- Installation Manuals
- Installation Videos & Pictures

Key Takeaways: Thermapan does a great job of educating their customers about their product and how
to use their product. As mentioned, there is a learning curve to this technology which needs be
addressed by brands selling the technology.

TITAN WALL SIP'S
Titan Wall is the most similar competitor to Riverview Homes. The business operates out of Alberta and
they develop, supply, and customize MgO SIP's.

What is their strategy?
It seems like Titan Wall has a similar business strategy for SMART-SIP. The company has been contacted
to try to get further information about the business model, but at first glance it seems like Titan Wall
imports MgO SIP's into Canada and then resells the SIP's at a higher price while also providing
customization options to its customers. The Titan Wall website outlines a couple of use cases for the
panels. One of the builds was for a cannabis production facility and another was for a bigger industrial
facility as well. Titan Walls strategy for providing quotes to their customers is quite simple. Customers
are able to submit a form with their name, phone #, and some brief details about their project. The
company will then reply to the request and discuss the quote further.
What products do they offer?

Titan Wall sells MGO SIP's as is, or customized to specifications.

How do they support their builders?
The Titan Wall website does not provide any support to builders. Compared to Thermapan who has
videos, manuals, and other support for builders.

As mentioned, Titan Wall has trademarked their SIP panels as Titan MGO Insulated Panels. This adds a
layer of uniqueness to their brand.

Website – The main form of marketing that Titan Wall uses is their website. When I search specific terms
about MgO SIP's in Canada the Titan Wall website appears in the search results.

Blog – The Titan Wall website also has a blog that has some information about different projects that
they have completed. The blogs also discuss SIP technology and its history.

Key Takeaways: Titan Wall has a unique brand of MgO SIP’s that they sell which helps to differentiate
them from other competitors. Their business model is incredibly similar to the model that is being
proposed for Riverview Homes.