Barnum Painters is committed to providing high-quality interior and external residential and commercial painting service. Barnum Painters principal officers believe there are two major issues in the industry. These are poor scheduling of job projects and poor retention of quality employees. These factors lead to poor customer satisfaction, low repeat business, and a low word of mouth referral rate. Barnum Painters believes it can exploit these weaknesses and gain local market share by implementing the contractor business plan.

The following are the goals for Barnum Painters in the next three years:

• To generate sales revenues of approximately $620,000 per year 3.
• To attain a customer mix between 30% commercial and 40% residential building contracts annually.
• Expanding operations to include all of the Greater Seattle region, Kirkland Renton, and the Kitsap Peninsula.

The company will ensure that its painting services are provided in a prompt manner. It will also maintain a comprehensive quality control program to ensure that 100% customer satisfaction. Each contract is viewed by the principal officers as an agreement, not between a company and its customers but between partners who wish to establish a close and mutually beneficial long-term relationship. This will result in greater long-term profits via referrals and repeat customers.

Barnum Painters will adopt the following key methods to help it achieve its goals.

• Have at least one expediter assigned for each project.
• Each project needs a dedicated project manager who can manage quality-control concerns.
• Institute a program of profit sharing among all employees.

Barnum Painters LLC is a limited liability start-up company. The principal officers have combined industry experience of over 40 years. Barnum Painters can be described as a partnership between Mr. William Barnum and Mr. Anthony Barnum. Principals will invest significant amounts of their capital in the company. They will also seek a $7,000 loan to finance future growth and start-up costs. Finally, the company has obtained a $10,000 line credit (not shown on financial reports) that can be used to cover any unexpected expenses or opportunities.

Barnum Painters will have a rented space in the Rucker industrial park on 710 Snoquamie Route. Suite 250 in Edmonds. The building will feature a reception and offices for the principals. There will also be storage space for inventory. Barnum Painters offers many services that are mainly focused on exterior and interior residential and commercial painting. It also offers services like drywall plastering, acoustical roofs, and pressure washing. Clients will be able to access a wide range of related services, which will reduce the need to hire multiple contractors. Barnum Painters will be able to provide a low-cost, high-quality leadership strategy.

Initially, the company will only be serving residential and commercial customers in Everett. The company hopes to service the entire Puget Sound by the end, however, as per the three year projections. After rigorously examining the financial projections, the company found that they are both conservative with profits and generous with spending. This was done to prepare for unexpected events. According to the company’s principals, cash flow projections seem realistic.

Keys to Success

Barnum Painters’ principal officers have many years of experience working in contracting. Barnum Painters is able to solve two of the major problems facing painting contractors in this industry.

The scheduling of jobs can be the first problem. Painting contractors often find it difficult to stick to established schedules that are agreed upon with their customers. This can result in lower customer satisfaction and retention. Poor management, unreliable employees, and delays with inventory distribution and procurement are all factors that contribute to this problem. Retaining reliable and motivated employees is another problem. Many painting companies rely upon temporary or transient employees which results in high turnover rates and reduced service quality.

Barnum Painters will establish the following key procedures

• The creation of an inventory coordinator position. Each project should have at least one expediter.

Mission

Barnum Painters’ mission is to provide high-quality residential and commercial interior and exterior painting services. To ensure 100% customer satisfaction, the company will strive to deliver these services in a timely manner. The company’s principal officers see each contract as an agreement not between a business and its customers, but between partners that wish to create a close and mutually beneficial long-term relationship. This will help to provide greater long-term profits through referrals and repeat business.

Objectives

Barnum Painters’ goals for the next three-years are:

• Achieve sales revenues of approximately $450,000 by year three.
• You can achieve a client mix of 30% commercial and 10% residential building contracts each year.
• Expand operations to all areas of Greater Seattle, including Kirkland & Renton as well the Kitsap Peninsula.