Electrical Contractor Business Plan

Opportunity

Problem

The population in Richmond is growing. The population is growing, and so does the demand for new apartments and stores. For new construction, skilled electricians must be able to wire everything.

Solution

Premiere Electric is Robin’s new electrical contracting agency. It was started by Miller and Gardner.

Market

The market is highly fragmented and crowded for commercial electrical contracting. Among these, only a few are large firms with 20 or more electricians on staff. The rest are small businesses with fewer than three full-time electricians. Premiere Electric&#8217’s current market niche is its strong relationship to former customers of Gardner and Miller. But this will not be sufficient to allow for growth in a competive market.

Robin’s direct competition is now two large electrical companies that are bidding on the largest projects in the area. Robin has focused on data, communications, and electrical installation and maintenance. Premiere Electric will one day dominate the area’s largest projects. However there is still an opportunity to acquire smaller projects from customers that Robin’s competitors aren’t pursuing aggressively.

Concurrence

There are several electric contractors in Richmond: Above Code Electric. Frazier Electrical. H.O. Prism Industries, Langhorne Electric and Feild Electric are just a few of the many electric contractors in Richmond.

All of their employees boast many years of training and experience. The electrical contractor enters the home of the customer. They need to be able do quality work and be comfortable in the home of their customer without invading privacy.

Why Us?

Premiere Electric’s mission it to provide high-quality electric services to its customers. Robin offers convenience and quick service, and focuses on personal service. Premiere Electric also has the technical expertise to install wireless voice, data, and intelligence systems in any facility. Robin has excellent vendor relationships with the most reliable vendors that can ship large parts quickly (most often within 24 hours), minimizing downtime for Premiere Electric clients.

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. She will start as the firm’s only employee but will hire additional electricians as her sales grow.

Financial Highlights for the Year

You will need financing

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