Electrical Contractor Business Plan Leave a comment

Opportunity

Problem

The population in Richmond is growing. With more people come the need for more apartments and stores, in other words, new construction. Skilled electricians are needed to wire everything in new construction.

Solution

Premiere Electric is a new electrical contracting firm that Robin has started to serve the former Gardner and Miller customers, as well as expand her services to new customers in the tri-county area.

Market

There is a lot of competition in the market for electrical contracting services. There are very few large firms that employ 20 or more electricians. The remainder are small firms with less than three full-time electricians. Premiere Electric’s current niche is its relationship with ex-customers of Gardner and Miller. However, this won’t be enough to grow in a competitive marketplace.

Robin is now able to focus on data, communication, electrical installation, and maintenance. This allows her to reduce her direct competitors, which are two large electrical contractors that have bid on the most important projects in the region. Though one day, Premiere Electric plans to be a force in the area’s largest projects, an opportunity exists now for new customers whose smaller projects are not being pursued aggressively by Robin’s competitors.

Competition

There are many Richmond electric contractors: Frazier Electrical and Above Code Electric. Feild Electric company, Prism Industries and Langhorne Electric to name a few.

All of them advertise many years experience, training and customers who trust them. The electrical contractor enters the home of the customer. They must be capable of doing excellent work and not invading the privacy of their customers.

Why Us

Premiere Electric’s mission to offer customers high-quality electrical services is its goal. Robin is a person-oriented service provider that offers quick and convenient service. Premiere Electric can also install wireless voice or data systems and intelligence systems in any size facility. Robin is able to ship major parts quickly (most cases within an overnight time frame) and minimize downtime for Premiere Electric customers.

Expectations

Forecast

At the moment, she has $100,000 worth of business with former Gardner and Miller customer. Robin believes she can take a large share of this business and build on it. As her sales increase, she will be the sole employee of the company.

Financial Highlights by Year

Financing is Required

We will receive $62,000. Robin will invest $40,000 and we will get a $22,000 long term loan.