Opportunity
Problem
Richmond is experiencing an increasing population. The population is growing, and so does the demand for new apartments and stores. New construction needs skilled electricians that can wire everything.
Solution
Premiere Electric is Robin’s new electrical contracting agency. It was started by Miller and Gardner.
Market
The market for commercial electrician services is fragmented and competitive. Only a few firms employing 20 or more electrical workers are represented. Rest are smaller firms employing fewer than three electricians. Premiere Electric’’s current niche lies in its strong relationship with Gardner and Miller’s customers. But, this is not enough for growth within a competitive market.
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. Premiere Electric has plans to become a force on the largest projects in the area, but there are still opportunities for customers with smaller projects that are not being pursued by Robin’s competitors.
Competition
There are many Richmond electric contractors: Frazier Electrical and Above Code Electric. Prism Industries, Langhorne Electric and Feild Electric are just a few of the many electric contractors in Richmond.
All of them have years of experience and training. They also boast customers who trust their work. Electrical contractors enter their customer’s home. They must be capable of doing excellent work and not invading the privacy of their customers.
Why Us?
Premiere Electric is committed to providing the best electrical services possible for its customers. Robin focuses on personalized service by offering convenience and rapid service. Premiere Electric is able to install any size wireless voice and data system, as well 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
Currently, there is $100,000 worth of business with former Gardner and Miller customers. Robin believes that she can grab the lion’s share and grow from this base. She will be the firm’s sole employee at first, but will soon hire additional electricians to grow her sales.
Financial Highlights Year-by-Year
Finance is required
We will be getting $62,000. Robin will make a $40,000 investment and we’ll get a $22,000 short term loan.