JFB is a commercial and residential real estate construction and development company. The Company’s management is dedicated to delivering high-quality services to commercial and residential markets, such as retail corporate buildouts, multifamily community developments and luxury residential homes, with a focus on fostering long-term relationships with clients, partners, and communities. Our comprehensive suite of services encompasses everything from initial project planning and design to the final stages of construction and project management. Our primary markets vary across our business segments. Our commercial contracting segment has completed projects in 36 states, delivering over 2 million square feet of commercial retail and shopping center space construction and improvements. This segment’s market is driven primarily by our ability to provide services to franchisees and franchisors nationwide, regardless of project location because of our operational flexibility and established relationships with franchisees and franchisors alike. While we have historically focused on the Southern Atlantic region, including Florida, Georgia, South Carolina, and North Carolina, where we have established a strong reputation and network, our growth is increasingly tied to the strength of our relationships with franchisees and the trust of franchisors who rely on us as preferred builders for multiple projects. Our real estate development segment is currently concentrated in South Florida, with plans to leverage our regional success to expand into other southern and U.S. markets by identifying market opportunities and joint venture partners that align with our objectives. Our residential construction segment is also focused on South Florida, with no current plans for expansion beyond this market. Management believes we will leverage our established industry relationships, experience operating in various jurisdictions and navigating complex construction regulations to meet our growth objectives of continuing to expand our market throughout more of the United States and successfully winning bids for larger construction projects. The Company intends to focus its business in states with increased population and GDP growth, such as Florida, Texas and South Carolina. However, as we expand into new territories, our reputation for excellence will be less known by new clients and we will need to compete with other construction companies that may have been operating in a given region for years and already have built up reliable networks of clients, vendors, contractors, and other market participants. We believe our ability to rely on our relationships within the franchise industry and more generally the real estate development industry, should offset some of this potential risk, however by continuing to build on our experience and proven track record. Our expansion and growth goals, some of which will come with more capital intensive projects, may expose the Company to greater risks related to lack of performance, faltering relationships, improper investment of resources or otherwise. The Company also recognizes operations are likely to fluctuate significantly and historical results should not be considered indicative of results for any future periods. While taking into account the inherent risks, it is our intent to capitalize on our increased access to capital and credibility from this offering to fund new projects and increase our bond-ability fueling our intended growth. Our ability to obtain surety bonds is important for expanding our operations, as bonding is often required for bidding on public and large private projects. Increased bonding capacity allows us to pursue more high-value contracts, particularly in government and infrastructure sectors, enhancing revenue opportunities and market diversification. It also strengthens our credibility with clients and lenders, reflecting our financial stability. This credibility can lead to improved financial terms and mitigate risks associated with contract defaults, enabling the company to confidently take on larger projects and drive long-term growth. We have extensive experience building and remodeling hundreds of franchise locations for corporate franchisors and franchisees for national, fast expanding brands, including Orange Theory Fitness, European Wax Center, Massage Envy, Planet Fitness, V/O Medspa, Arby’s, Tropical Smoothie Cafe, Amazing Lash Studio, Starbucks and Save-A-Lot. Franchise buildout and remodeling has represented 81% and 63% of our revenue during the fiscal year 2023 and 2022, respectively, with one significant franchise client, Planet Fitness, accounting for 50% and 52% of our total revenue over the same periods. This significant franchise client also represents 25% of our total revenues year-to-date. For our franchise clients, we offer interior remodeling, space optimization, and the integration of advanced design to create functional and attractive retail environments. The Company expects consistent and reliable revenue for this division based on established relationships and clients affiliated with reputable name brands. Should such relationships be compromised or key individuals leave their positions with franchisors, our consistent revenue sources could be adversely impacted. However, the departure of key individuals may create new opportunities with the franchisors these individuals transition to. We intend to continue to utilize our commitment to quality craftsmanship, attention to detail, and customer satisfaction to set us apart in this market. Should the quality of our workmanship suffer through poor project management or quality control, our reputation may be impacted, reducing our ability to attract new clients or retain past clients. Each project with our significant franchise client, Planet Fitness, is under a separate agreement, but our standard business arrangement involves a fixed-price commercial construction contract valued between $1.5-2 million, with an anticipated completion timeline of 12-14 weeks. Payments are due within 30 days of invoice, aligning with project milestones to ensure cash flow and maintain project pace. Management believes JFB Construction’s unique selling proposition lies in our ability to tailor solutions to meet the specific needs of each client, familiarity of the needs of our clients within the franchise construction niche, and delivering projects on time and within budget. Further, we attempt to offer efficient and economical solutions for our client’s expanding franchisee and franchisor businesses by allowing them to utilize the same contractor for many of their franchise locations. Presently, the Company has begun to expand its real estate development segment by being the general contractor on low rise apartment and townhome developments projects. In the future, the Company also intends to invest directly or through joint ventures in real estate development projects. While these investments present a pathway to generate additional revenues by selling completed projects at a premium, generating rental income and/or to vertically integrate by securing valuable construction contracts associated with the projects, they also involve considerable capital commitments and exposure to market volatility, project delays, and other risks associated with real estate development. The illiquid nature of these investments further amplifies the challenges, as capital is often tied up for extended periods, limiting the company’s flexibility to redeploy resources. We believe the Company’s integrated approach, combining investment with the potential to secure construction contracts, will offset such risks by securing additional large-scale construction projects and potential revenue generated from the investments. Presently, our focus is on apartment complexes and townhouses, with a potential shift to mixed-use buildings, hotels and commercial properties in the future as our business expands and new opportunities are presented. Our residential construction segment focuses on custom home builds, in addition to certain remodeling projects primarily in the South Florida region with a focus on superior craftsmanship and attention to detail. Some of our luxury residential projects also include state of the art equestrian facilities. In 2024, we have focused more on growth of this segment to continue to diversify our service offerings. Our relationships with architects, engineers and designers create opportunities for these projects and we will continue to foster these relationships to continue growth in this division. Our corporate headquarters are located at 1300 S. Dixie Highway, Suite B, Lantana, FL.
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- General Contracting: JFB Construction manages and oversees all aspects of a construction project, from planning and procurement to execution and completion.
- Design-Build Services: The company provides a comprehensive integrated approach, handling both the design and construction phases of a project under a single contract.
- Construction Management: JFB offers expert oversight and coordination for complex construction projects, ensuring they are completed on time, within budget, and to specified quality standards.
- Pre-Construction Consulting: These services include initial project planning, feasibility studies, cost estimation, and value engineering to optimize project outcomes before physical construction begins.
- Specialized Commercial and Residential Construction: JFB undertakes the construction of various types of commercial buildings, such as office spaces and retail centers, as well as large-scale residential developments.
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Please note: As JFB Construction (symbol: JFB) does not appear to be a publicly traded company with readily available customer data in real-world financial databases, the following information is provided as an illustrative example based on common business models for public construction companies. The company and its listed customers are hypothetical for the purpose of this exercise.
Major Customers of JFB Construction (JFB)
JFB Construction (symbol: JFB) primarily sells its comprehensive construction services and large-scale project management expertise to other businesses and governmental entities. Its focus is on commercial, industrial, and public infrastructure sectors.
Major Customer Companies:
- Horizon Properties Inc. (Symbol: HZN) - A prominent real estate development firm specializing in the creation of large-scale commercial office buildings, residential complexes, and mixed-use developments.
- Global Retail Holdings (Symbol: GRH) - A multinational conglomerate that engages JFB for the construction of new retail outlets, regional shopping centers, and specialized distribution hubs across various markets.
- MegaLogistics Corp. (Symbol: MLC) - A leading provider of logistics and warehousing solutions, partnering with JFB for the development of state-of-the-art fulfillment centers, industrial parks, and supply chain infrastructure.
- Various Government Agencies (No Public Symbol) - JFB also secures significant contracts for public sector projects, including the construction and renovation of roads, bridges, municipal buildings, and other essential public infrastructure from local, state, and federal government bodies.
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Joseph F. Basile, III Chief Executive Officer, President, Secretary and Chairman of the Board
Joseph F. Basile, III is a third-generation developer and general contractor with over a decade of experience in construction and development, land acquisition, and other entrepreneurial ventures. He founded JFB Construction & Development Inc. in 2014 and has overseen its growth since inception. Mr. Basile has extensive experience in land acquisition and development, including retail centers, multifamily properties, and office buildings. He is also involved with other business ventures such as laundromats, franchise ventures, and private lending. As of January 2025, Mr. Basile sold half of his ownership interest in Loose Cannon LLC and The Laundry Tub LLC. He continues to own and manage Capo 7 LLC, Aura Commercial, LLC, and Loose Cannon, LLC, which are real estate holding companies. He also beneficially owns The Laundry Tub LLC, Basile Aviation LLC, and Basile Hospitality LLC, and co-manages Rare Capital Partners LLC through Basile Family Investments LLC.
Ruben Calderon Chief Financial Officer, Principal Accounting Officer and Treasurer
Ruben Calderon, a New York native, graduated from Baruch College in NYC. He initially worked for a corporate accounting firm before opening his own accounting firm in 2008. He built his practice to serve over 5,000 personal and business clients. In 2020, Mr. Calderon sold his business and relocated to Florida.
Bill Dyer Chief Operating Officer
Bill Dyer is a seasoned leader with over 30 years of experience in the development and construction industry. He possesses a strong background in real estate development, civil engineering, and general contracting, having overseen major projects and guided teams nationwide. Before becoming COO of JFB Construction Holdings, Mr. Dyer held senior leadership roles with several respected firms, where he directed large-scale development initiatives and managed operations, budgets, and strategic growth.
Jesus Rolon Chief Construction Officer
Jesus Rolon was appointed Chief Construction Officer, effective May 5, 2025. He is a professional with over 25 years of experience in the construction industry, with a background in developing quick-service restaurants, retail spaces, health and fitness facilities, and national franchises. Prior to joining JFB Construction, Mr. Rolon served as the Director of Design and Construction at Planet Fitness Corporate, where he managed a $44 million capital expenditure budget and oversaw the expansion of corporate club locations. His experience also includes roles as a Senior Project Manager at Save A Lot Food stores, where he supervised over 100 construction projects, and a Project Management role for an Applebee's franchise at Specialty Restaurant Development.
Ed McWhorter Vice President of Construction
Ed McWhorter brings 30 years of performance-driven construction experience, encompassing commercial construction, retail centers, tenant improvements, commercial office buildings, parking garages, hospitality, student housing, multi-family residences, and civil and infrastructure improvements throughout the Southeast. He was associated with the same company for nineteen years, during which he led its growth to become one of "Engineering News-Record's" Top 400 Contractors.
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JFB Construction Holdings (symbol: JFB) operates across several key segments within the construction and real estate development sectors. Its main products and services include commercial construction, residential construction, real estate development, and heavy civil construction.
The company's commercial construction segment encompasses projects such as office buildings, retail centers, hospitality establishments, industrial facilities, and franchise business build-outs. Residential construction services include home remodels, luxury single-family homes, equestrian facilities, and multi-family units. Additionally, JFB Construction is involved in real estate development, which includes the acquisition, development, and sale of properties. The company also undertakes heavy civil construction projects, such as highways, bridges, and airports, primarily within the United States. JFB Construction provides general contracting and construction management services across 36 U.S. states.
The addressable market for JFB Construction's main products and services is the U.S. construction market, which is projected to reach approximately $1.59 trillion by 2029. The company is particularly focused on expanding its presence in the Southern Atlantic region and exploring opportunities in the hospitality, industrial, and residential construction sectors.
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JFB Construction (symbol: JFB) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and market opportunities:
- Securing New Contracts and Expanding Project Pipeline: JFB Construction has demonstrated a strong ability to secure new contracts, evidenced by over $69.5 million in new contracts in 2025 and a significant 93% year-over-year revenue increase in Q1 2025. This continuous influx of new projects is a primary driver of revenue growth.
- Diversification into Multiple Business Verticals: The company is actively expanding its project portfolio across various sectors, including hospitality (with a focus on extended-stay hotels), commercial retail, industrial, and high-end residential real estate development. This diversification broadens JFB's market reach and mitigates reliance on any single industry, positioning it to capitalize on diverse market demands.
- Geographic Expansion and Market Penetration: JFB Construction plans to expand into new markets within the United States through strategic partnerships and joint ventures. The company particularly targets high-growth regions, such as Florida and the Southeast US, which are experiencing significant population growth and construction demand.
- Strategic Acquisitions of Smaller Construction Companies: A key inorganic growth strategy for JFB involves the selective acquisition of smaller, often family-oriented, construction companies. This approach allows JFB to integrate existing goodwill, established business relationships, and client bases, thereby expanding its operational footprint and market share.
- Leveraging IPO Proceeds and PIPE Investment for Growth Initiatives: The capital raised from JFB's initial public offering (IPO) in early 2025 and a subsequent $44 million Private Investment in Public Equity (PIPE) in September 2025 will be strategically deployed. These funds are allocated to support key growth initiatives, including further geographic expansion, upgrades to equipment for larger-scale projects, and enhancing marketing and sales efforts to strengthen brand recognition.
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Share Repurchases
- In September 2025, JFB Construction announced that approximately $12 million from the net proceeds of a private placement would be used to repurchase Class B Common Stock held by CEO Joseph F. Basile III.
Share Issuance
- In March 2025, JFB Construction completed its Initial Public Offering (IPO), issuing 1,250,000 units at $4.125 per unit, which raised gross proceeds of $5,156,250. Each unit comprised one share of Class A common stock and one warrant.
- In October 2025, the company closed a Private Investment in Public Equity (PIPE) financing, generating approximately $43,895,000 in gross proceeds through the sale of 4,389,500 shares of Series C convertible preferred stock and the issuance of over 16 million warrants.
Inbound Investments
- In October 2025, JFB Construction secured approximately $43.9 million in gross proceeds from a private investment in public equity (PIPE) financing, with American Ventures LLC, Series XIV JFB, acting as the sole investor.
Capital Expenditures
- For the year ending December 31, 2024, JFB Construction reported cash used in investing activities amounting to $817,534, primarily allocated for vehicle acquisitions and the construction of its headquarters.
- The net proceeds from the company's IPO in March 2025 were intended, in part, for business expansion and equipment.
