Opportunity
Problem
Richmond’s population is increasing. There is a greater demand for apartments and shops, so new construction is essential. For new construction, skilled electricians must be able to wire everything.
Solution
Premiere Electric is Robin’s brand new electrical contracting business. She started it to serve her former Gardner and Miller clients, and also to expand her services for new customers in the tricounty area.
Market
The market for commercial electrical contracting services is very fragmented and crowded. 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 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 focus on data and communication reduces her competition to the two largest electrical firms that bid for the largest projects in the local area. 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 their employees boast many years of training and experience. 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’s mission to offer customers high-quality electrical services is its goal. Robin emphasizes personal service and provides quick and easy service. Premiere Electric’s technological expertise allows us to install voice and data wireless systems as well as intelligence systems at any size facility. Robin has strong relationships with vendors who can ship major parts quickly (on an overnight schedule in most cases), minimising downtime for Premiere Electric’s customers.
Expectations
Forecast
There is currently $100,000 in business with former Gardner and Miller clients. Robin believes she has the potential to capture the majority of that business and continue to grow her base. As the only employee in the company, she will initially be hired. However, as her sales grow, she will also hire additional electricians.
Financial Highlights by Year
You will need financing
We will be getting $62,000. Robin will invest $40,000, and we will receive a $22,000 loan over the long-term.
