Opportunity

Problem

Richmond is experiencing an increasing population. In other words, more people will need more apartments and stores. Skilled electricians are needed to wire everything in new construction.

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. Among these, only a few are large firms with 20 or more electricians on staff. The remainder are small firms with less than three full-time electricians. Premiere Electric&#8217’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.

Concurrence

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

All of their employees boast many years of training and experience. 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 it to provide high-quality electric services to its customers. Robin focuses on personalized service by offering convenience and rapid service. Premiere Electric can also install wireless voice or data systems and intelligence systems in any size facility. Finally, Robin has strong vendor relationships with the most service conscious vendors who are capable of shipping major parts rapidly (on an overnight timeline in most cases) minimizing the system down time for Premiere Electric customers.

Expectations

Forecast

The company has a total of $100,000 in business with former Gardner and Miller customers. Robin believes she is able to grab the lion&#8217s share of that and build upon it. She will begin as the only employee, but she will eventually hire more electricians as her business grows.

Financial Highlights by Year

Finance is required

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