business plan for electrical company pdf

Free Electrical Business Plan PDF Download | Electrical Shop Business Plan

How to Start an Electrical Business - Free Electrical Business Plan PDF Download

Are you considering starting an electrical business and are in need of an electrical business plan? if yes, you'll find this free book to be extremely helpful.

This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

Don’t Start a New Electrical Business Unless You Watch This Video First!

Checklist for Starting a Business: Essential Ingredients for Success

If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!

Here’s a Valuable Free Gift for You This is a high quality, full blown business plan template complete with detailed instructions and all related spreadsheets. You can download it to your PC and easily prepare a professional business plan for your business. Click Here! To get your free business plan template

The Single Most Important Ingredient for Business Success

The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.

Sounds exaggerated? Listen to this...

According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.

This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.

Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.

"Why Invent Mediocrity, When You Can Copy Genius?"

That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate it. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?

[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]

Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful Internet based information business. I'm also the author of numerous books, mostly in the area of small business management.

I've been involved in small business for the past 31 years of my life, as a business coach, manager of a Electrical firm, a seminar leader and as the owner of five successful businesses.

During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of. You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.

Here's what you'll discover in the 'How to Start a Electrical Business' book:

Success Tip: Setting Goals

Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.

Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.

Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.

Click here! to download your Electrical Business Plan book for free (PDF version)

Management Skills Video: How to Become a Great Manager and Leader

Learn how to improve your leadership skills and become a better manager and leader. Here's how to be the boss people want to give 200 percent for. In the following video you'll discover 120 powerful tips and strategies to motivate and inspire your people to bring out the best in them.

For more insightful videos visit our Small Business and Management Skills YouTube Chanel .

Here're other free books in the "how to start a business" series that may interest you:

Here's a Sample 'Executive Summary' for a Electrical Business plan :

COMPANY NAME ADDRESS CITY, STATE, ZIP CODE Tel.  Fax: Email:

COMPANY NAME is an Electrical Sub-Contractor, primarily doing commercial, industrial, medical and residential. COMPANY NAME offers value engineering for energy evaluation & efficiency. The purpose of the company's plan is to grow in the fields mentioned above as well as branch out into Nevada, Arizona & New Mexico. COMPANY NAME also wants to further the company's market share in the solar/energy and the service industry.

1.1 Objectives

1. To fund growth of existing business & increase market share of our service business 2. Expand into the field of energy/solar 3. With additional capital the ability to bid larger projects.

1.2 Mission

COMPANY NAME 's sole purpose is to establish a profitable and well managed company while at the same time designing to please the local residents with excellent service in California.  COMPANY NAME’s near future plans are to grow the company's electrical contracting business in California and other states such as Nevada, Arizona and New Mexico.  The company will seek to provide these services in the timeliest manner and with an ongoing comprehensive quality control program to provide 100% customer satisfaction.

1.3 Keys to Success

1.  Servicing and maintaining our existing client base 2.  Having employees that understand and implement our high standards 3.  Reliability and communication with clients from beginning of each job to end.

COMPANY NAME is in the city of Orange and has been in the county of Orange since 1994, servicing Los Angeles, Riverside, San Bernardino and San Diego counties. We provide electrical contracting services to a wide range of clients, including owners and general contractors, mainly in the medical field. COMPANY NAME's current corporate office is at [INSERT ADDRESS].   The company's corporate office is a 4,650 sq ft concrete tilt up building. This corporate office houses all administrative operations, with warehouse space used for inventory and service vehicles. All of the work is done at many off-site locations.

2.1 Company Ownership

COMPANY NAME is a privately held C Corporation where OWNER’S NAME is president & secretary and CO-OWNER’S NAME is Vice President.

2.2 Company History

In 2006 and 2007 COMPANY NAME experienced a decrease in sales due to California budget cuts for the company's voice and data division that had provided services to Employment Development Departments.   The decrease in sales was also due to existing clients who were very slow in paying for services rendered.  COMPANY NAME had also made the decision to focus more on the medical field and their primary client base. The company had cut ties with three general contractors and proceeded to establish new contacts within the medical field. The year of 2008 was a great year and COMPANY NAME was on track to double sales; however the economy was starting to slow. 2009 was a respectable year, however, again, due to the economy COMPANY NAME re-evaluated again to expand into solar/energy industry.

Table: Past Performance

3.0 Services

COMPANY NAME 's products are: 1) Design build which is based on a per square foot price. 2) Contract work which is specific to a certain set of blueprints/drawings. 3) Service work that is based on an hourly rate.

COMPANY NAME will focus on four main markets within the industry such as: MEDICAL This field is a viable source of business now and due to ever changing technology a great source of future business that will sustain us long term. SERVICE There will always be a need for service and this is an area that we have never taped into and believe there is great potential. COMMERCIAL/INDUSTRIAL This has been the company's main focus; COMPANY NAME has built great long term relationships with building owners who now look for our guidance in directing their energy improvements. SOLAR/ENERGY We feel we always need to look at new trends and stay ahead of change in our approach to long term sustainability.

How to Organize Paperwork for Business

We must all be efficient and productive in today's business world. Being organized helps you handle tasks quickly so that you have more time and space to do what you truly want to do.

1. One-time mail system.

Have an In Box on your desk for new mail/information. Look at your mail once a day. Review each piece of mail once to decide whether to do it, delegate it or dump it. If it adds value to your business or is required for doing business, do it or delegate it. If not, then dump it. If you keep it, then categorize it using the A, B, C system. Use your time wisely.

2. Categories for performing your work.

Set up desk trays labeled A, B, and C. Items in category A must be handled today. Category B items must be handled this week. Category C items are generally filing that must be kept because they have some value, such as invoices, tax returns, and statements.

3. Prioritize your work within categories A and B.

Sort the categories into 1, 2, and 3. A1 must be done NOW, it is "hot" or "urgent." A2 can be done this AM. A3 can be done by the end of the day. B1 is done on Monday. B2 done by Wednesday. B3 done by the end of the week. Make the decision once, then do the work.

Set a day and time each week for filing. Don't let it stack up. Give yourself space to work.

5. Purge your files on a regular schedule.

For example, purge files every six months. Send these documents to storage. This gives you more space to work.

6. Storing records.

Store documents in boxes. Mark the contents of each box. For instance, clients A-F2013. Mark the destruction date on the box, D = June 02. Base your destruction date on the legal requirements for your industry.

7. Toss out stored documents on a regular schedule.

For example, two times per year, visit the storage area and remove boxes that are beyond the destruction date. Depending on your industry, they may need to be shredded rather than put in the trash.

8. Color code your records.

For example, clients with first names beginning with A-F are in Orange folders; G-K Yellow; L-P Blue; Q-Z Green. This will save you time when you are searching for a file. You can also apply this to AP, AR, Payroll, and Taxes. This can also be done by year. For example, 2012 AP is blue; 2013 AP is purple.

9. Hot files.

Put a red cover on files that you consider "hot." These could be urgent projects, legally or financially sensitive, or important VIP clients. Keep these visually at your fingertips.

10. Use out guides.

If you work with other people and share files, create a check-out system so that files are not lost. Put the file name, taken-by name, and date on a card and place it in an out guide box. When you can't find what you want, check the box to see if your co-worker is using the file. Be sure to remove the card from the box when you return the file.

Copyright © by Bizmove Free Business Guides. All rights reserved.

Electrical Contractor Business Plan Template

Written by Dave Lavinsky

Electrical Contractor Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their electrical contracting businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an electrical contractor business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an Electrical Contractor Business Plan?

A business plan provides a snapshot of your electrical contractor business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for an Electrical Contracting Business

If you’re looking to start an electrical contractor business, or grow your existing electrical contractor business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your electrical contractor business in order to improve your chances of success. Your electrical contracting business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Electrical Contractor Businesses

With regards to funding, the main sources of funding for an electrical contractor business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the electrical contractor will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for electrical contractor businesses.

Finish Your Business Plan Today!

How to write a business plan for an electrical contracting business.

If you want to start an electrical contracting business or expand your current one, you need a business plan. Below are the details for each section of your electrical contractor business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of electrical contractor business you are operating and its status. For example, are you a start-up, do you have an electrical contractor business that you would like to grow, or are you operating a chain of electrical contractor businesses?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the electrical contractor industry. Discuss the type of electrical contractor business you are operating. Detail your direct competitors. Give an overview of your target market. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of electrical contractor business you are operating.

For example, you might operate one of the following types of electrical contractor businesses:

• Commercial Electrical Contractor : this type of electrical contractor business will focus on developing outdoor spaces such as college campuses, parks, gardens and more.
• Residential Electrical Contractor: this type of electrical contractor business collaborates with homeowners to design and/or install electrical and electronic systems.
• Industrial Electrical Contractor: this type of electrical contractor business works on large projects for manufacturers or warehouse facilities.

In addition to explaining the type of electrical contractor business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of customers served, number of positive reviews etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the electrical contractor industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the electrical contractor industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your electrical contractor business plan:

• How big is the electrical contractor industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your electrical contractor business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your electrical contractor business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: homeowners, businesses, general contractors, developers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of electrical contractor business you operate. Clearly, a homeowner would respond to different marketing promotions than a local government, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most electrical contractor businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target audience. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other electrical contractor businesses.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes in-house electricians and homeowners who do minor electrical work themselves. You need to mention such competition as well.

With regards to direct competition, you want to describe the other electrical contractor businesses with which you compete. Most likely, your direct competitors will be electrical contractors located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What types of projects do they specialize in?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide a wider array of services?
• Will you provide special discounts or perks for returning customers?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an electrical contractor business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of electrical contracting business that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to installing traditional electrical systems, will you also install smart home control systems or fire and security systems?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your electrical contractor company. Document your location and mention how the location will impact your success. For example, is your electrical contractor business located in a growing community with a booming construction sector, etc.  Discuss how your location might be the ideal location for your customers.

Promotions : The final part of your electrical contractor marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Reaching out to local websites
• Social media marketing
• Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your business operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your electrical contractor business, including marketing your business, working on current projects, prepare for upcoming projects, and overseeing the entire project.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to install your 500 th electrical system, or when you hope to reach $X in revenue. It could also be when you expect to expand your electrical contractor business to a new city.  

Management Team

To demonstrate your electrical contractor business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in managing electrical contractor businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in overseeing construction projects or successfully running their own electrical contractor businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you work on 1 project at a time or will you oversee multiple projects at any given time? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your electrical contractor business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing an electrical contractor business:

• Cost of equipment and supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or contracts for upcoming projects.  

Putting together a business plan for your electrical contractor business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the electrical contractor industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful electrical contractor business.

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Electrical Contracting Business Plan

Soaring demands, high-profit margins, and a recurring revenue model make starting an electrical contracting business a lucrative and rewarding profession.

The market for electrical contractors is highly saturated. If you want to capitalize on the opportunity and make a profitable business venture out of it, you need a detailed business plan that can help raise the funds.

Need help writing a business plan for your electrical contracting business? You’re at the right place. Our electrical contracting business plan template will help you get started.

Free Business Plan Template

Download our free electrical contracting business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write An Electrical Contracting Business Plan?

Writing an electrical contracting business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

• Introduce your Business: Start your executive summary by briefly introducing your business to your readers.This section may include the name of your electrical contracting business, its location, when it was founded, the type of electrical contracting business (E.g., residential contracting, commercial contracting, industrial contracting, maintenance and repair contracting), etc.
• Market Opportunity: Summarize your market research, including market size, growth potential, and marketing trends. Highlight the opportunities in the market and how your business will fit in to fill the gap.
• Products and Services: Highlight the electrical contracting services you offer your clients. The USPs and differentiators you offer are always a plus.For instance, you may include planning and designing, installation, maintenance, repairs, and upgrades as services and mention expertise in specialty systems and renewable energy installations as some of your USPs.
• Marketing & Sales Strategies: Outline your sales and marketing strategies—what marketing platforms you use, how you plan on acquiring customers, etc.
• Financial Highlights: Briefly summarize your financial projections for the initial years of business operations. Include any capital or investment requirements, associated startup costs, projected revenues, and profit forecasts.
• Call to Action: Summarize your executive summary section with a clear CTA, for example, inviting angel investors to discuss the potential business investment.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

• Residential contracting
• Commercial contracting
• Industrial contracting
• Specialty contracting
• Describe the legal structure of your electrical contracting company, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.
• Owners: List the names of your electrical contracting company’s founders or owners. Describe what shares they own and their responsibilities for efficiently managing the business.
• Mission Statement: Summarize your business’ objective, core principles, and values in your mission statement. This statement needs to be memorable, clear, and brief.
• Business History: If you’re an established electrical contracting service provider, briefly describe your business history, like—when it was founded, how it evolved over time, etc.Additionally, If you have received any awards or recognition for excellent work, describe them.
• Future Goals: It’s crucial to convey your aspirations and vision. Mention your short-term and long-term goals; they can be specific targets for revenue, market share, or expanding your services.

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

• Target market: Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.For instance, residential townships and homeowners would be an ideal target audience for a residential electrical contracting business.
• Market size and growth potential: Describe your market size and growth potential and whether you will target a niche or a much broader market.For instance, Electrical contracting is a 225-billion-dollar industry as a whole with huge growth potential. However, it’s crucial to define how narrow or broad you target your market to identify your SOM(serviceable obtainable market).
• Competitive Analysis: Identify and analyze your direct and indirect competitors. Identify their strengths and weaknesses, and describe what differentiates your electrical contracting services from them. Point out how you have a competitive edge in the market.
• Market Trends: Analyze emerging trends in the industry, such as technology disruptions, changes in customer behavior or preferences, etc. Explain how your business will cope with all the trends.For instance, smart home electrical contracting has a booming market; explain how you plan on dealing with this potential growth opportunity.
• Regulatory Environment: List regulations and licensing requirements that may affect your electrical contracting company, such as business registration, contractor license, permits, insurance, environmental regulations, state and federal regulations, etc.

Here are a few tips for writing the market analysis section of your electrical contracting business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

• Electrical installations
• Electrical repairs
• Electrical design services
• Maintenance and upgrades
• Electrical systems
• Fire alarm systems
• Security systems
• Data cabling – Telecommunication
• Home automation systems
• Quality measures: This section should explain how you maintain quality standards and consistently provide the highest quality service.This may include compliance with regulations and codes, quality assurance processes, and training and education.
• Additional Services: Mention if your electrical contracting company offers any additional services. You may include services like smart home integrations, renewable energy installations, etc.

In short, this section of your electrical contracting plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

• Unique Selling Proposition (USP): Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.For example, IoT and smart home integrations and energy management solutions could be some of the great USPs for a residential electrical contracting company.
• Pricing Strategy: Describe your pricing strategy—how you plan to price your contracting services and stay competitive in the local market. You can mention any entry offers you plan on offering to attract new customers to your contracting service.
• Marketing Strategies: Discuss your marketing strategies to market your services. You may include some of these marketing strategies in your business plan—social media marketing, Google ads, brochures, email marketing, content marketing, local marketing, and print marketing.
• Sales Strategies: Outline the strategies you’ll implement to maximize your sales. Your sales strategies may include direct sales calls, partnering with related businesses like real estate companies, offering referral programs, etc.
• Customer Retention: Describe your customer retention strategies and how you plan to execute them. For instance, introducing loyalty programs, discounts on annual membership, proactive service and maintenance, personalized service, etc.

Overall, this section of your electrical contractor business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your electrical contracting business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

• Staffing & Training: Mention your contracting business’s staffing requirements, including the number of employees, i.e. electrical engineers, electricians, and office administrative staff needed. Include their qualifications, the training required, and the duties they will perform.
• Operational Process: Outline the processes and procedures you will use to run your electrical contracting business. Your operational processes may include project planning, making installations, logistics, procuring materials, acquiring new clients, and billing and collection.
• Equipment & Machinery: Include the list of equipment and machinery required for electrical contracting, such as testing and measuring tools, hand and power tools, heavy machinery, safety equipment, etc.Explain how these technologies help you maintain quality standards and improve the efficiency of your business operations.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your electrical contracting business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

• Founders/CEO: Mention the founders and CEO of your electrical contracting company, and describe their roles and responsibilities in successfully running the business.
• Key managers: Introduce your management and key members of your team, and explain their roles and responsibilities.It should include, key executives(e.g. COO, CMO.), senior management, and other department managers (e.g. project managers, operations manager, customer services manager.) involved in the electrical contracting business operations, including their education, professional background, and any relevant experience in the electrical industry.
• Organizational structure: Explain the organizational structure of your management team. Include the reporting line and decision-making hierarchy.
• Compensation Plan: Describe your compensation plan for the management and staff. Include their salaries, incentives, and other benefits.
• Advisors/Consultants: Mentioning advisors or consultants in your business plans adds credibility to your business idea.So, if you have any advisors or consultants, include them with their names and brief information consisting of roles and years of experience.

This section should describe the key personnel for your electrical contracting services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

• Profit & loss statement: Describe details such as projected revenue, operational costs, and service costs in your projected profit and loss statement . Make sure to include your business’s expected net profit or loss.
• Cash flow statement: The cash flow for the first few years of your operation should be estimated and described in this section. This may include billing invoices, payment receipts, loan payments, and any other cash flow statements.
• Balance Sheet: Create a projected balance sheet documenting your electrical contracting business’s assets, liabilities, and equity.
• Break-even point: Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.This exercise will help you understand how much revenue you need to generate to sustain or be profitable.
• Financing Needs: Calculate costs associated with starting an electrical contracting business, and estimate your financing needs and how much capital you need to raise to operate your business. Be specific about your short-term and long-term financing requirements, such as investment capital or loans.

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the electrical contracting industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your electrical contracting business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This sample electrical contracting business plan will provide an idea for writing a successful electrical contracting plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our electrical contracting business plan pdf .

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Frequently asked questions, why do you need an electrical contracting business plan.

A business plan is an essential tool for anyone looking to start or run a successful electrical contracting business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your electrical contracting company.

How to get funding for your electrical contracting business?

There are several ways to get funding for your electrical contracting business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
• Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your business, usually online.
• Angel investors – Getting funds from angel investors is one of the most sought startup options.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

How do I write a good market analysis in an electrical contracting business plan?

Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry. We can categorize the process of writing a good market analysis section into the following steps:

• Stating the objective of your market analysis—e.g., investor funding.
• Industry study—market size, growth potential, market trends, etc.
• Identifying target market—based on user behavior and demographics.
• Analyzing direct and indirect competitors.
• Calculating market share—understanding TAM, SAM, and SOM.
• Knowing regulations and restrictions
• Organizing data and writing the first draft.

Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier.

How detailed should the financial projections be in my electrical contracting business plan?

The level of detail of the financial projections of your electrical contracting business may vary considering various business aspects like direct and indirect competition, pricing, and operational efficiency. However, your financial projections must be comprehensive enough to demonstrate a comprehensive view of your financial performance.

Generally, the statements included in a business plan offer financial projections for at least the first three or five years of business operations.

Can a good electrical contracting business plan help me secure funding?

Indeed. A well-crafted electrical contracting business will help your investors better understand your business domain, market trends, strategies, business financials, and growth potential—helping them make better financial decisions.

So, if you have a profitable and investable business, a comprehensive business plan can certainly help you secure your business funding.

What's the importance of a marketing strategy in an electrical contracting business plan?

Marketing strategy is a key component of your electrical contracting business plan. Whether it is about achieving certain business goals or helping your investors understand your plan to maximize their return on investment—an impactful marketing strategy is the way to do it!

Here are a few pointers to help you understand the importance of having an impactful marketing strategy:

• It provides your business an edge over your competitors.
• It helps investors better understand your business and growth potential.
• It helps you develop products with the best profit potential.
• It helps you set accurate pricing for your products or services.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to write a business plan for your electrician services.

Starting an electrician services business is a great idea because it provides an essential service to the public and has the potential to be a very profitable venture.

Additionally, electricians are always in demand, so there is a consistent need for qualified professionals.

Don't start without having built a business plan though.

A business plan is essential for any new project, as it allows you to map out the goals of the project, identify potential challenges, and create a plan of action to ensure successful implementation. Having a clear plan in place will help you get off to a strong start and increase your chances of success.

In short, a good business plan will help make sure your electrician services is profitable .

What should you include in the business plan for an electrician services? What's the ideal arrangement for the structure? What are the important financial ratios to consider? How can I streamline the process of writing a business plan?

Please, find comprehensive answers to all these questions below.

One last thing, you don't have to start your business plan from scratch.

Instead, you can download our detailed business plan for an electrician services and tailor it to suit your requirements.

How to create a business plan for an electrician services

Is it worth considering a business plan for your electrician services.

Yes, you should consider creating a business plan for your electrician services to ensure success.

Formulating a comprehensive business plan will allow to:

• get familiar with the electrician services market
• stay abreast of emerging trends and apply them to your project
• highlight what makes an electrician services successful
• understand the electrical needs and concerns of residential and commercial clients
• find a great unique value proposition for your electrical contractor services
• assess competitor brand reputation
• find competitive advantages for your electrician services
• find a business model that maximizes revenue and minimizes costs
• implement a well-defined and tactical action plan for long-term prosperity
• assess potential risks involved in providing electrician services, such as electrical hazards, code compliance, and worker safety

Our team has drafted a business plan for an electrician services that is designed to make it easier for you to achieve all the elements listed.

How to outline a business plan for an electrician services?

Inside a business plan, you'll find many facts, numbers, and indicators. There should be a clear structure, to make easy to read and digest.

When we elaborated our business plan for an electrician services , we made sure to structure it propertly.

This document is comprised of 5 sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The first section is titled "Market Opportunity."

Explore this section for a wealth of information and analysis on electrician services, including electrical systems, safety regulations, customer preferences, and industry trends, empowering entrepreneurs to establish reliable and efficient electrician service businesses.

We constantly update all the data to ensure it's always fresh.

2. Project Presentation

In the "Project" section, you can present your electrician services, outlining the types of electrical work you specialize in (e.g., installation, repair, maintenance), your qualifications and certifications, commitment to safety standards, emergency response capabilities, and the unique value proposition that ensures reliable and efficient electrical solutions for residential and commercial clients.

Remember to introduce yourself at the end of this section.

Discuss your experience in electrical services, your expertise in installations and repairs, and how you plan to provide reliable and efficient electrical solutions to clients. Highlight your knowledge of electrical systems, your adherence to safety regulations, and your dedication to delivering top-notch service that ensures proper functioning and optimal electrical performance in residential, commercial, and industrial settings through your electrician services.

Our business plan has text for you. Customize it to fit your concept.

3. Market Research

Then, there is the "Market Research" section.

In this section, you will find a market segmentation analysis for your electrician services.

It includes a study of competing electrician service providers in the area. Your services' expertise in electrical solutions and competitive advantages are also highlighted. A customized SWOT analysis is included.

4. Strategy

Within the "Strategy" section, a detailed plan spanning three years is outlined, specifying the necessary initiatives to make your electrician services highly profitable.

Furthermore, you can access a marketing plan, a strategy for managing risks, and a completed Business Model Canvas.

5. Finances

Lastly, the "Finances" section is dedicated to presenting all the financial data, tables, and visuals for your project.

How to make the Executive Summary for an electrician services?

The Executive Summary is a brief and condensed overview of the business plan of your electrician services.

Keep it short and to the point, no longer than 2 pages. Include only the vital details.

This document aims to capture the reader's interest and make them want to read your business plan.

In the Executive Summary of your electrician services, answer the following questions: what electrical services do you offer as an electrician? who is your target audience? are there other electrician service providers in the market? what is your required funding?

How to do the market analysis for an electrician services?

Analyzing the market for your electrician services allows you to gain insights into factors such as customer needs for electrical installations and repairs, competition within the electrical services industry, and emerging trends in energy-efficient solutions.

By conducting a comprehensive market study, an electrician services company can identify customer needs, provide reliable electrical solutions, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a loyal customer base, increased service requests, and a prominent position in the local electrical services industry.

This is what you'll find in the "Market Research" section of our business plan for an electrician services :

• interesting data points and market insights about electrician services, including electrical repair trends, energy-saving solutions, and demand
• a list of potential audiences for an electrician services
• the competitor study
• the potential competitive advantages for an electrician services

The key points of the business plan for an electrician services

What's the business model of an electrician services, business model of an electrician services.

An electrician services business model revolves around providing electrical installation, repair, or maintenance services to residential, commercial, or industrial clients. Revenue is generated through service fees charged for labor and materials.

The business model focuses on employing licensed and experienced electricians, ensuring compliance with electrical codes and safety standards, effective marketing to target clients in need of electrical services, and building strong customer relationships based on quality workmanship and reliability.

Success depends on technical expertise, delivering efficient and timely electrical solutions, maintaining licenses and certifications, fostering positive customer reviews and recommendations, and continuously staying updated with industry advancements and electrical regulations.

Business model vs Business plan

Don't get "business plan" and "business model" mixed up.

A business model describes how a company generates income and operates successfully.

In a business plan, you delineate your business model employing a resource called the Business Model Canvas.

Rest assured, there is a Business Model Canvas (already completed) in our business plan for an electrician services .

How do you identify the market segments of an electrician services?

Market segmentation for your electrician services involves dividing your potential clients into different groups based on their electrical needs, project scopes, and demographics.

These categories may include factors such as residential electrical services, commercial electrical services, electrical repairs, or clients seeking specific electrical solutions or expertise (e.g., lighting installation, electrical panel upgrades).

By segmenting your market, you can offer specialized electrician services and solutions that cater to each segment's specific requirements. For example, you might focus on residential electrical services and provide electrical installations, repairs, and upgrades for homeowners, offer commercial electrical services and handle electrical projects for businesses and commercial properties, specialize in electrical repairs and troubleshooting to address specific electrical issues or faults, or focus on specific electrical solutions or expertise such as lighting installation or electrical panel upgrades to meet the unique needs and preferences of each client segment.

Market segmentation allows you to effectively target your marketing efforts, communicate your expertise in electrical services, and provide reliable and safe electrical solutions that meet the unique needs and preferences of each client segment.

In the business plan for an electrician services , you will find a comprehensive market segmentation that will help you identify your potential customers.

How to conduct a competitor analysis for an electrician services?

It's evident that you won't be the only provider of electrician services. There are other professionals offering electrical installations, repairs, and maintenance to residential and commercial clients.

It's important to analyze your competitors thoroughly as part of your business plan. This means listing their traits, strengths, and weaknesses.

Be aware of their weaknesses (such as lack of specialized electrical knowledge, inconsistent service quality, or poor customer communication).

Why is it crucial to notice these aspects? Because these weaknesses can impact customer satisfaction when utilizing electrician services.

By focusing on these areas, you can provide skilled and licensed electricians, offer prompt and reliable electrical repairs and installations, and deliver transparent pricing and excellent customer service, positioning your electrician services as a trusted and preferred choice for electrical needs.

It's what we call competitive advantages—building them is key to standing out in the market.

Here are some examples of competitive advantages for electrician services: licensed and certified electricians, comprehensive range of electrical services, efficient and safe installations and repairs, reliable troubleshooting and diagnostics, competitive pricing, exceptional customer service, positive referrals and reviews.

How to draft a SWOT analysis for an electrical contractor?

A SWOT analysis can help identify potential risks and opportunities for an electrician services, enabling them to make informed decisions and plan for the future.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for an electrician services

The strengths for an electrician services

The letter "S" in SWOT stands for Strengths, highlighting the project's positive attributes or capabilities.

For an electrician services, possible strengths include expert knowledge, excellent customer service, reliable services, and attention to detail.

The weaknesses for an electrician services

W stands for Weaknesses, referring to the project's areas or aspects that have room for improvement.

For an electrician services, potential weaknesses include lack of experience, limited resources, inadequate customer service, and limited geographic area.

The opportunities for an electrician services

The letter "O" denotes Opportunities in SWOT, signifying the potential advantages or beneficial external factors that can contribute to the project.

In the case of an electrician services, potential opportunities include installing and maintaining electrical systems, wiring appliances, inspecting and repairing electrical components, and providing emergency services.

The threats for an electrician services

When we use the "T" in SWOT, we're referring to Threats, which are the external risks or challenges that the project may encounter.

How to outline a marketing strategy for an electrical contractor?

A marketing strategy is a key element of a business plan as it explains how a business will capture customers and achieve sales targets.

Developing an effective marketing approach will help your electrician services gain visibility and appeal to homeowners and businesses in need of reliable electrical solutions.

Homeowners won't seek your electrician services without proper marketing; emphasizing your reliability and expertise is crucial.

Are you implementing effective marketing strategies for your electrician services? Consider optimizing your website for local search, offering educational content about electrical safety and energy efficiency, and attending home improvement or trade shows to showcase your expertise.

No need to worry if you have no clue about marketing and communication.

How to build a solid financial plan for an electrical contractor?

A comprehensive business plan requires a thorough analysis of financial data to ensure its success.

As part of your business planning process, you'll be required to predict the revenue for your electrician services.

To instill trust and confidence in potential investors, your business plan should have revenue projections that are reasonable and backed by sound assumptions.

Our financial plan for an electrician services is user-friendly, providing automated validations that allow you to rectify any assumptions swiftly. This guarantees the creation of credible projections with ease and assurance.

No doubt, you'll have to establish an initial budget for launching your electrician services. Pay attention to every expense and don't leave any out (our financial plan includes a complete list for your convenience).

The break-even analysis is also central in your financial plan as it indicates you whether your electrician services will generate profits or not.

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Electrical Contractor Business Plan [& Free Template]

Whether you’re a new electrical contractor launching your startup business or a veteran electrician looking to expand , define business goals, or obtain funding, you need a business plan. And if you created a business plan when you first started in the industry, but haven’t updated it since, it’s time for a revamp. 

Ready to write or improve your electrical business plan? Read on for information on what to include in an electrician business plan and a free electrical contractor business plan template to get started. 

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What Is a Business Plan for Electrical Contractors?

A business plan is a comprehensive document that outlines the company’s operations, goals, strategies, and financial projections. It serves as a roadmap for the business owner and potential stakeholders by detailing how the business will be structured, managed, and grown. 

A business plan is a fluid document that should be reviewed and refined annually to reflect goals that have been met or have changed. If an established business decides to move in a new direction, perhaps adding services or acquiring a smaller electrical outfit and expanding their service areas, they may create a new business plan.

Why Do Electrical Contractors Need a Business Plan?

In addition to serving as a roadmap for the company, electrical contractors need a business plan for the following reasons.

Reason #1: Raise Funding

New or expanding businesses often need to raise capital from lenders or investors. Before investing or providing a loan, lenders and investors want to see a detailed plan that demonstrates the company’s potential for success and how it intends to use the funds. Lenders want to know the company will be solvent enough to make regular debt payments.

The main sources of funding for an electrical business include personal funds, credit cards, bank loans, and investors. Personal savings and bank loans are the most common funding paths for electrical companies.

Reason #2: Define Business Goals and Reduce Risks

A business plan serves as your company’s blueprint. By setting up goals and ways to measure success, you’ll know if your business is on track. Your business plan should also outline risks, including competitors and market changes. By knowing business threats ahead of time, you can prepare plans for reducing or addressing them.

When it comes to measuring goals, a field management software with reporting capabilities provides the data electrical companies need to make informed business decisions. For example, ServiceTitan’s field reporting software offers a dynamic dashboard that allows business owners to customize the fields to display KPIs that matter most to them, including revenue, missed opportunities, and conversion rates.

The technician scorecard gives managers a report on overall technician performance, as well as the opportunity to drill down into metrics for each individual tech, including generated revenue, memberships sold, customer satisfaction, and billing efficiency. With this information in hand, managers can reward outstanding technician performance and find coaching opportunities.

Similarly, a CSR scorecard allows users to review incoming calls, conversions, and other CSR metrics as clients and potential customers call your business. The recorded calls can be used for CSR training or to re-engage with missed opportunities.  

How to Write an Electrical Contractor Business Plan [with Template]

An electrical contractor business plan should be tailored to the specific goals of your business and provide a realistic and achievable roadmap for its success. To help electricians know exactly what information to include in a business plan, ServiceTitan created an electrical company business plan template for you to download and fill in.

>> Download our free electrical business plan template. Save the PDF to your desktop as a new file. From there, you can customize it for your business.

Ready to get started? Include the following sections in your electrical business plan.

1. Industry Analysis

First, provide an overview of the electrical contracting industry. This market research should inform your business strategy. It also shows investors and lenders you did your due diligence. When preparing this section, consider:

Market strength

Market size

Competitors

Industry trends

2. Executive Summary

The executive summary is a condensed version of your full business plan where you include everything you would cover in a five-minute sales pitch about your business. Put simply, all the hard work and research you put into your business plan should inform the critical information you include in the executive summary. Even though this is in the front of the business plan, it’s best to complete this section last. 

Use the executive summary to concisely explain the fundamentals of the business. For example, what is your product or service? Who are your customers? Who are the business owners and financial investors? What are your goals and objectives?

If you’re applying for funding, make sure to specify the amount, how you plan to use it, and more importantly, how it will increase your profit margins. The executive summary needs to be professional, enthusiastic, and succinct. 

3. Business Overview

The company overview is where you start to dig into the details of your electrical contracting business. In short, it explains what your electrical business will do, and how you will achieve your objectives. The section often begins with a mission statement—typically 30 words or less—where you explain your company’s guiding principles and business philosophy.

Make sure to cover the following components in the business overview:

Goals and objectives : All successful businesses need to establish goals, objectives, and key performance indicators (KPIs). Make sure to elaborate on how you’ll set up your electrical shop for success .

Marketplace : Define your core customer base and explain how you’ll market your services, including the marketing channels you plan to use. Keep it brief. You’ll elaborate in the marketing plan section of your business plan.

Strengths and core competencies : Use this section to expand on the specific factors that will help your company succeed. Include what strengths set you apart from the competition and how you’ll prepare staff to succeed.

4. Services Analysis

Use this section to provide more detail about your specific products and electrical services. 

For example, (Electrical contractor name) offers residential and commercial electrical installation, service, and repair, including new installations, safety inspections, whole-home rewires, troubleshooting and servicing electrical issues, and more.  

Include any factors that give you a competitive advantage over other electrical contractors in your service area. For example, do your technicians possess advanced skills that enable them to work on high-tech electrical systems? Other examples of key service differentiators include:

Service guarantee 

Repair guarantee 

Replacement guarantee

Next, mention the pricing, fee, or leasing structures of your products or services. Will you price electrical jobs by the hour, or offer flat-rate pricing? You’ll want to examine the wage rate in your area to ensure you pay your employees a competitive salary. Also include the hourly rate, how you’ll account for drive time, and the billable amount for every job or service you offer.

5. Market Analysis

Include a market, or competitor, analysis. Identify and evaluate key competitors to define your company’s unique value proposition and capitalize on market opportunities. The analysis should include information on competitors’ strengths, weaknesses, market share, pricing strategies, and technological advancements.

Look for gaps in the market, whether there are services not being offered or service areas not being sufficiently served. These gaps create business opportunities . 

6. Customer Analysis

The customer analysis section of a business plan is where you focus on understanding your target customers. This includes describing your target market’s characteristics, needs, and behaviors to tailor your offerings effectively. Start by identifying your primary and secondary customer groups, considering factors like demographics (age, gender, location), psychographics (interests, values), and buying behaviors (how they make purchasing decisions). 

This analysis equips you to tailor your business strategies to meet customer demands effectively. By knowing your customers’ wants and pain points and leveraging customer experience software , you can create a strong foundation for building lasting customer relationships and achieving sustainable growth. 

ServiceTitan enables electrical contractors to provide their customers with a modern sales and service experience, which includes:

Scheduling options : Give leads the ability to schedule jobs whatever way works best for them, whether through web chats, texts, calls, or booking directly online. 

Detailed customer history : A robust CRM allows service techs to view complete customer information before arriving on the job site. Knowing the customer's name and job history helps techs and CSRs personalize the customer experience and provide better customer service.

Text messaging communication : Text appointment reminders and technician bios so customers know who and what to expect when your service truck arrives. Allow for two-way SMS communication, so customers can confirm appointments, reschedule appointments, or ask questions right from their phone. 

Live tracking : Allow customers to track your techs on a map, so they can better predict arrival times.

On-site estimates : Today’s customers don’t want to wait for estimates. With ServiceTitan Mobile , techs can build and display branded, digital estimates with good, better, and best options in just a few taps.  

Financing options: Working with your clients on payment options helps build loyal, repeat customers. With ServiceTitan customer financing, customers can apply for financing right from your tech’s phone or iPad, choose from different plans, and receive instant approval.

7. Marketing Plan

All businesses depend on marketing to promote their companies, generate new business, and grow repeat customers. If your electrical shop’s promotions or sales feel stagnant, it’s probably a good time to look at your marketing metrics and reevaluate your promotions and marketing channels. 

When it comes to marketing strategies , electricians typically utilize an omnichannel approach. If your target audience leans younger, you may want to invest heavily in digital marketing such as search engine optimization (SEO), Google ads, and social media marketing, while home mailers and direct mail may be more effective with older homeowners. Bottom line: You want to reach as many potential customers as possible, so don’t be afraid to try different marketing strategies.

Break down how you plan to spend marketing dollars by promotion channel, such as:

Direct mail (%)

Newspaper (%)

Television (%)

Search engine marketing (SEM) (%)

Social media marketing (%)

Your strategy should also include the average cost to acquire a new customer, and take into account other marketing drivers, such as club memberships and word-of-mouth referral programs.

Consider how your business will execute and track ROI of marketing strategies. For example, ServiceTitan offers data-driven marketing solutions to help you attract, convert, and retain customers, in addition to providing valuable insights into the performance of your campaigns.

8. Operations Plan

Expand on and explain the daily operation of your electrical contracting business, its location, equipment, people, processes, and surrounding environment.

Production : How and where are your products or services produced? Make sure to include production techniques and costs, quality control, customer service, inventory control, and product development.

Location : What requirements do you need in a physical location? Mention the amount of space, type of building, zoning, and utilities.

Legal : Include information related to licensing and bonding requirements, permits, environmental regulations, industry-specific regulations, zoning or building code requirements, liability insurance, and any trademarks, copyrights, or patents.

Personnel : List the number of employees, type of labor (skilled, unskilled, and professional), recruiting efforts, pay structure, training programs, and job descriptions.

Inventory and suppliers : Include the kind of inventory (raw materials, supplies, finished goods), the estimated value, and your top suppliers.

Credit policies : Will you sell your services on credit? If so, how will you approve customers or determine creditworthiness?

9. Management Summary

Mention the key roles that will manage the business on a day-to-day basis, including the general manager, operations manager, and other management team roles. What experience do they bring to the business? Do they hold special or distinctive competencies? Is there a plan for continuation of the business if leadership is lost or incapacitated?

If you employ more than 10 employees in your business structure, create an organizational chart showing the management hierarchy and who is responsible for key functions. Include descriptions for each position or employee.

You should also list professional and advisory support, including:

Board of directors

Management advisory board

Insurance agent

Consultant(s) 

Mentors and key advisors

10. Financial Plan

The financial plan typically includes a 12-month profit-and-loss projection, a cash-flow projection, a projected balance sheet, and a break-even calculation. Together, they present a reasonable estimate of your electrical contracting business's financial projections and business value . More importantly, the process of thinking through the financial plan will improve your insight into the inner financial workings of your company.

Include personal financial statements for each owner and major stockholder, showing assets and liabilities held outside the business and personal net worth. Owners will often have to draw on personal assets to finance the business, and these statements will show what is available. Bankers and investors usually want this information as well.

Over to You

ServiceTitan’s cloud-based, all-in-one electrical software gives business owners the technology they need to do the work efficiently, the data and reporting they need to do it smartly, and a wide array of resources to guide them as they grow toward achieving the goals outlined in their electrical contracting business plan.

>> Want to start your own electrical business or revitalize and grow an established business? Download this electrical business plan template to get started.

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Electrical Contractor Business Plan Template

Written by Dave Lavinsky

Electrical Contractor Business Plan

You’ve come to the right place to create your Electrical Contractor business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Electrical Contractor companies.

Below is a template to help you create each section of your Electrical Contractor business plan.

Executive Summary

Business overview.

Oak City Electric, located in Raleigh, NC, is a newly established family owned and operated electrical contracting company. The company provides electrical contracting services to the local metropolitan area and its surrounding communities. With an emphasis on customer service and rapid response time, Oak City Electric is set to establish itself as one of Raleigh’s most trusted and reliable electrical contractors.

Oak City Electric was founded by Randy Wallace. Randy Wallace has been an electrician in the community for over 40 years. Although he has worked for several local competitors, Randy Wallace has always wanted to own and operate his own electrical contracting company. He finally saved up enough money and built up a large enough client base to make his dream come true. Randy’s education, experience, and skill set will quickly make Oak City Electric the #1 electrical contracting company in the area.

Product Offering

Oak City Electric will provide a variety of different electrical contractor services. These services include:

• Residential Electrical
• Commercial Electrical
• Industrial Electrical
• Safety Inspections
• Fixture, Smoke Detector, And Carbon Monoxide Detector Installation
• Smart Home Installation
• Security Systems
• Home Theater Installation
• Camera Systems

Pricing for all services will vary depending on the complexity and size of the project.

Customer Focus

Oak City Electric will primarily serve the residents living within Raleigh, NC, and the surrounding areas. About 51% of the city owns their own homes and will likely need electrical work at some point. There are also thousands of businesses in the area and over 1 million square feet of industrial/warehouse space. Many of the city’s residents and businesses are underserved when it comes to electrical services, so our services will be in high demand.

Management Team

Oak City Electric is led by Randy Wallace, a local electrician who has worked for the largest electrical contractor companies in Raleigh for over 40 years. Randy Wallace is fully licensed and bonded and has gained an impressive reputation as the most reliable and trustworthy electrician in the market. As a project manager that oversaw hundreds of projects, Randy has the proper knowledge and experience to own, manage, and operate his own electrical contracting company. He also has built a loyal client base, with many clients promising to use his services once the company is fully running.

Success Factors

Oak City Electric will be able to achieve success by offering the following competitive advantages:

• Technology: Oak City Electric will be able to provide the latest advancements in electrical contracting.
• Price: Oak City Electric is able to offer their services at the best and most competitive price.
• Community Relations: Oak City Electric will be a pillar in the community and be heavily involved in family-related activities in the area. It will sponsor events and provide free electrical services (for small jobs) to non-profit organizations and area schools.
• Highly Trained and Experienced Staff: Oak City Electric will be led by Randy Wallace who has decades of experience as an electrician and project manager.

Financial Highlights

Oak City Electric is seeking $400,000 in debt financing to launch. The funding will be dedicated to securing office space and build-out and purchasing the necessary equipment and tools. Funding will also be dedicated toward three months of overhead costs, including payroll, rent, and marketing costs. The breakout of the funding is below:

• Office space build-out: $100,000
• Equipment, tools, and supplies: $50,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $50,000
• Working capital: $50,000

Company Overview

Who is oak city electric.

Randy Wallace has saved his wages for the necessary down payment to receive local bank financing. He has also located a prime spot for the lease of the company headquarters where the equipment and vehicles will be kept. Due to his experience and reputation in the electrical contractor industry, Randy has been able to receive written commitments from large development companies in Raleigh for them to be the preferred electrical subcontractor for their upcoming projects.

Oak City Electric’s History

Once his market analysis was complete, Randy began surveying the area for an available office space with plenty of surface parking to house the company’s large fleet of vans and trucks. Randy incorporated Oak City Electric as a Limited Liability Corporation in April 2023.

Once the lease is acquired for the space, light construction can begin to build out the company’s headquarters and small office.

Since incorporation, the Company has achieved the following milestones:

• Located an office space that would be ideal for the company
• Developed the company’s name, logo, and website
• Hired a general contractor for the build-out of the warehouse, small office, and parking area
• Determined equipment and necessary supplies
• Determined how many vehicles necessary for the fleet
• Began recruiting key employees

Oak City Electric’s Services

Industry analysis.

The electrical contractors industry has had healthy revenue growth over the last five years. This is mostly due to the increase in new construction activity and an uptick in renovations. Demand for nonresidential and residential construction projects is high, primarily due to low interest rates and access to credit. In addition to growing per capita disposable income and corporate profit, rising demand for construction projects requiring electrical work has boosted demand for industry services from corporations and individuals alike.

Over the next five years , industry revenue is expected to grow at a faster rate, largely as a result of pent-up demand. As the economy booms, the value of nonresidential construction and per capita disposable income are both anticipated to increase and contribute to industry revenue growth. In addition, the industry is projected to benefit from continued renovation and retrofitting activity, particularly green upgrades, such as energy-efficiency projects and smart home technologies. According to Arizton, these factors are expected to help boost the electrical contractor industry by a CAGR of 3.94% from now until 2028. Therefore, this is the perfect time to establish a new electric contracting company as there is a great demand for these services.

Customer Analysis

Demographic profile of target market.

Oak City Electric will serve the community residents of Raleigh, NC, and its surrounding areas.

The community of Raleigh has thousands of single family homes that will likely require electrical work. There are also a number of businesses and industrial parks that require regular lighting and other electrical services.

The demographics of the area in which we will operate are as follows:

Customer Segmentation

The Company will primarily target the following three customer segments:

• Contractors

Competitive Analysis

Direct and indirect competitors.

Oak City Electric will face competition from other companies with similar business profiles. A description of each competitor company is below.

Wallmore Electrical Contractors

Established in 1977, Wallmore is Raleigh’s largest and most requested electrical contractor. The company has grown itself to be the premier electrical contractor as it has completed dozens of projects over the years and has grown its workforce to over 100 employees and electricians.

The company was formed as a small family company and later acquired another electrical company in the area to allow itself to grow and add more services. They also have a very capable fleet of vans and trucks that are able to travel not just around the city, but across the state as well.

The company specializes in electrical lighting systems, such as LED retrofit, residential, commercial, industrial, and landscape lighting. They are also a preferred subcontractor to numerous large general contractors to complete their electrical projects for them. The projects range in size from residential developments to commercial remodeling and warehouse improvements.

We-Do-It-All Electrical & Mechanical Contractors

We-Do-It-All Electrical & Mechanical Contractors offers a complete electrical company to commercial industrial customers. The company offers a quick response to proposals and system installation services. Their team of well-trained and experienced electricians are capable of performing complicated projects with precision under tight time constraints.

The company has a lead industrial electrical contractor and commercial electrician that provides the design and implementation that is required for the project. He focuses on communicating with the client through the entire process; from initial planning and design to final implementation and testing. We-Do-It-All also places an emphasis on safety as they offer incentives for safe performance for all of their licensed electricians on staff.

Gamma Ray Electrical & Mechanical Contractors

Gamma Ray is an HVAC contractor that provides all electrical and mechanical services for any and all projects. The Gamma Ray electrical and mechanical team includes proficient electricians that are able to fix any electrical issue that can be found in the client’s living room, kitchen, or fuse box. The company’s electrical contractor services are open to both commercial and residential clients and can handle everything from troubleshooting to installing electrical systems for commercial buildings.

Gamma Ray’s complete list of electrical services include troubleshooting, infrared electrical testing, hookup and power supply, lighting and security lighting, wiring and connections, energy-use evaluation, 24-hour emergency services, preventive maintenance, electrical installation, diagnosis repair, updates and maintenance, equipment power supply, generator installation, electrical panel upgrades, and circuit installation.

Competitive Advantage

Oak City Electric enjoys several advantages over its competitors. These advantages include:

Marketing Plan

Brand & value proposition.

Oak City Electric seeks to position itself as a respectable, upper-middle-market competitor in the electrical contracting market. Customers can expect high-quality electrical work and customer service.

The Oak City Electric brand will focus on the company’s unique value proposition:

• Complete list of electrical services
• Licensed with the latest technology
• Highly trained and capable staff of electricians
• Large fleet of vehicles that is ready to be dispatched at a moment’s notice 24/7
• Affordable pricing

Promotions Strategy

The promotions strategy for Oak City Electric is as follows:

Website/SEO  

Oak City Electric will invest heavily in developing a professional website that displays all of the services the company will be able to provide. It will also invest heavily in SEO so that the brand’s website will appear at the top of search engine results.

Social Media Marketing

Social media is one of the most cost-effective and practical marketing methods for improving brand visibility. The company will use social media to develop engaging content, such as educational content about electrical work and about the services the Company offers.

Word of Mouth Marketing

Oak City Electric will encourage word-of-mouth marketing from loyal and satisfied clients. The company will use recommendations and word-of-mouth marketing to grow its customer base through the network of its existing customers. The company will incentivize its existing customer base to encourage friends to call Oak City Electric to help them with all their electrical needs.

Special Offers

Offers and incentives are an excellent approach to assisting businesses in replenishing the churn in their customer base that they lose each year. The company will introduce special offers to attract new consumers and encourage repeat purchases, which will be quite advantageous in the long run.

Oak City Electric’s pricing will be moderate so clients feel they receive great value when utilizing the company’s electrical contracting services.

Operations Plan

Operation Functions:

The following will be the operations plan for Oak City Electric.

• Randy Wallace will be the Owner, President, and Manager of Oak City Electric. He will be in charge of the general operations of the company. He will also provide customer service and provide electrical work for his customers until he hires a large staff of electrical contractors.
• He is assisted by his long-time friend, Jack Taylor, who will be the Vice President of the company. He will assist with the marketing and administrative aspects of the business.
• Randy will also hire several electrical contractors to provide electrical services to his long list of clients.

Milestones:

Oak City Electric expects to achieve the following milestones in the following months:

• 7/202X Finalize lease agreement
• 8/202X Design and build out
• 9/202X Hire and train initial staff
• 10/202X Kickoff of promotional campaign
• 11/202X Launch Oak City Electric
• 12/202X Reach break-even

Financial Plan

Key revenue & costs.

Oak City Electric’s revenues will come primarily from its electrical contracting services. The company will provide a range of electrical contracting services to the community and its surrounding areas. As the company’s revenues increase, it will look to gain a wider distribution area.

The warehouse lease, equipment, supplies, fleet of vehicles, and labor expenses will be the key cost drivers of Oak City Electric. Ongoing marketing expenditures are also notable cost drivers for Oak City Electric.

Funding Requirements and Use of Funds

Key assumptions.

Below are the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

• Monthly rent: $1,500

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Electrical Contractor Business Plan FAQs

What is an electrical contractor business plan.

An electrical contractor business plan is a plan to start and/or grow your electrical contractor business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Electrical Contractor business plan using our Electrical Contractor Business Plan Template here .

What are the Main Types of Electrical Contractor Businesses?

There are a number of different kinds of electrical contractor businesses , some examples include: Commercial Electrical Contractor, Residential Electrical Contractor, and Industrial Electrical Contractor.

How Do You Get Funding for Your Electrical Contractor Business Plan?

Electrical Contractor businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start an Electrical Contractor Business?

Starting an electrical contractor business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop An Electrical Contractor Business Plan - The first step in starting a business is to create a detailed electrical contractor business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your electrical contractor business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your electrical contractor business is in compliance with local laws.

3. Register Your Electrical Contractor Business - Once you have chosen a legal structure, the next step is to register your electrical contractor business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your electrical contractor business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Electrical Contractor Equipment & Supplies - In order to start your electrical contractor business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your electrical contractor business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful electrical contractor business:

• How to Start an Electrical Business

Free Electrical Business Plan Template

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Electrical Contractor Business Plan

Used 4,920 times

This Electrical Contractor Business Plan template include information about the services you offer, who your target consumers are, why they should prefer you over your opponents and how much capital you require to get started.

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Electrical Contractor Business Plan Template

Created by:

​ [Contractor.FirstName] [Contractor.LastName] ​

​ [Contractor.Company] ​

Introduction

This business plan is for an electrical contracting company, [Contractor.Company] that will offer a range of services to residential, commercial, and industrial clients. [Contractor.Company] will be owned and operated by [Contractor.FirstName] [Contractor.LastName] , who has (insert number) years of experience in the electrical industry.

Company Description

​ [Contractor.Company] will be located in [Contractor.City] , [Contractor.State] and will serve the surrounding area. The company will be registered as a (insert business structure, e.g., LLC, corporation, or partnership) and will have (insert number) employees at the start, including the owner. The company will offer services such as electrical installation, repair, and maintenance for residential, commercial, and industrial clients. The company will also provide energy efficiency consultations and solar panel installation.

Market Analysis

The electrical contracting industry is expected to grow at a rate of (percentage) over the next five years. The demand for electrical services is driven by population growth, construction activity, and the need for energy efficiency improvements. [Contractor.Company] will target residential, commercial, and industrial clients in the [Contractor.City] area, focusing on high-quality service and customer satisfaction.

Marketing Strategy

​ [Contractor.Company] will use a combination of traditional and digital marketing techniques to reach potential clients. This will include advertising in local newspapers and industry publications, as well as utilizing social media platforms and email marketing to promote services and specials. The company will also rely on word-of-mouth referrals from satisfied customers.

​ [Contractor. Company] will have a team of qualified electricians who will be responsible for completing projects in a timely and professional manner. The company will have a project manager who will oversee all projects and ensure that they are completed to the highest standards. The company will maintain a well-stocked warehouse with a variety of electrical supplies and equipment to ensure that projects can be completed efficiently.

Financial Plan

​ [Contractor.Company] will generate revenue through the sale of electrical services to residential, commercial, and industrial clients. The company will also generate revenue through the sale of electrical supplies and equipment. The company will have operating expenses, including payroll, rent, utilities, and insurance. The company expects to generate (Amount) in revenue in the first year, with a projected growth rate of (Percentage) per year.

​ [Contractor.Company] is well-positioned to take advantage of the growing demand for electrical services in the [Contractor.City] area. With a team of experienced electricians, a focus on high-quality service, and a commitment to customer satisfaction, the company is confident that it will be successful in the competitive electrical contracting market.

​ [Client.FirstName] [Client.LastName] ​

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Electrical Contractor Business Plan Template [Updated 2024]

I. Executive Summary

This Section's Contents

Business Overview

Services provided, customer focus, management team, success factors, financial highlights.

[Company Name], located in [insert location here], is a local newly established family owned and operated electrical contracting company. The company provides electrical contracting services to the local metropolitan area and its surrounding communities. With an emphasis on customer service and rapid response time, [Company Name] is set to establish itself as one of [Location]’s most trusted and reliable electrical contractors.

[Company name] was founded by [Founder’s Name]. [Founder] has been an electrician in the community for over 40 years. [Founder] has always wanted to own and operate his own electrical contracting company for many years now, but wanted to wait until his sons were old enough and attained their electrician’s license. He knew the company would be his legacy and offer his sons and their families a reliable and reputable career. Through his knowledge and ability to follow through to address each of his clients issues, [Founder] has gained an immense following and is the most requested electrical contractor in the greater [location] area.

[Company Name] will provide a variety of different electrical contractor services. The services include Smart Home installation, Security Systems, Home Theater Installation, Camera Systems, LED Lighting Retrofit, Residential Electrical, Commercial Electrical, Industrial Electrical, Audio Visual Solutions, Lighting Control, and Network Systems.

Pricing for all services will vary depending on the complexity and size of the project.

[Company Name] will primarily serve the residents within a 1 to 50-mile radius of our location. The demographics of these residents are as follows:

• 862,989 residents
• Average income of $36,000
• 59.3% married
• 41% in Mgt./Professional occupations
• Median age: 39 years

Of the above mentioned residents, there are about 76% of single family homes that will likely require electrical work. There are also over 1 million square feet of industrial and warehouse space and there is another 1 million in the planning stages of development for another industrial park to be built.

[Company Name] is led by [Founder’s Name], a local electrician who has worked for the largest electrical contractor company in [location] for over 40 years. [Founder] is fully licensed and bonded and has gained an impressive reputation as the most reliable and trustworthy electrician in the market. As a project manager that oversaw hundreds of projects, [Founder] has the proper knowledge and experience to own, manage, and operate his own electrical contracting company.

[Company Name] is uniquely qualified to succeed due to the following reasons:

• The company will be providing electrical contracting services to the local market that its competition does not yet provide.
• The company will have a full fleet of vans and trucks to be able to properly and professionally serve [location] and its surrounding communities.
• The owner has a positive reputation in the community and is widely requested for electrical projects of all sizes.
• The pricing model is competitive with other electrical contractor companies.
• [Company Name] is fully licensed, bonded, and insured.

[Company Name] is seeking a total funding of $625,000 of debt capital to open its electrical contracting company.

• Warehouse design/build-out: $100,000
• Equipment and fleet of vehicles: $300,000
• Initial inventory: $100,000
• Working capital: $125,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

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Electrical Contractor Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

Electrical Business Plan Template & Guidebook

Starting and running an electrical business requires a lot of effort, funding, and preparation to be successful. One of the most important components of a successful electrical business is a comprehensive business plan. To make the process easier, the #1 Electrical Business Plan Template & Guidebook can provide prospective business owners with the tools they need to turn their dreams into reality. With this helpful resource, budding entrepreneurs can streamline the planning process, develop an actionable roadmap for their business’ development and growth, and create a plan that stands out from competitors.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Electrical Business [11 Steps]
• 10+ Best & Profitable Electrical Business Ideas [2023]
• 25 Catchy Electrical Business Names:
• List of the Best Marketing Ideas For Your Electrical Business:

How to Write a Electrical Business Plan in 7 Steps:

1. describe the purpose of your electrical business..

The first step to writing your business plan is to describe the purpose of your electrical business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a electrical business:

Our mission is to provide reliable and innovative electrical solutions that meet the individual needs of our customers, creating long-term relationships through an unwavering commitment to service excellence.

2. Products & Services Offered by Your Electrical Business.

The next step is to outline your products and services for your electrical business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your electrical business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your electrical business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your electrical business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a electrical business?

In order to run an electrical business, you will need the following equipment, supplies, and permits:

• Electrical tools and supplies (wire cutters, crimpers, test equipment, etc.)
• Electrical wiring and components (switches, receptacles, conduit, etc.)
• Business license
• Insurance coverage.
• State and local permits as required by your municipality.

5. Management & Organization of Your Electrical Business.

The second part of your electrical business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your electrical business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Electrical Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a electrical business varies based on many different variables, but below are a few different types of startup costs for a electrical business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your electrical business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your electrical business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your electrical business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Electrical Business Plans:

Why do you need a business plan for a electrical business.

A business plan for an electrical business is necessary to help identify and clarify the company's goals and objectives, as well as outline a strategy for achieving them. It also serves to provide potential investors or lenders with detailed information about the company's products, services, financials, marketing plans and resources. Additionally, a business plan can provide valuable insight into the market opportunity for an electrical business and help guide the development of an effective business model.

Who should you ask for help with your electrical business plan?

An experienced entrepreneur or small business consultant can help you develop a business plan for your electrical business. You may also want to speak with a lawyer who specializes in business law to get advice on any legal complexities or regulations you need to be aware of. Additionally, a financial planner can help you assess the financial viability of your business and offer advice on the best ways to structure your finances.

Can you write a electrical business plan yourself?

Yes, it is possible to write a electrical business plan yourself. Depending on the business, you might need to research the current market and trends in your industry, as well as consider your target customer base. Additionally, you would need to create a detailed financial plan that outlines expected costs and revenue. You also might want to consider enlisting the help of a professional business plan writer or consultant who can provide advice and guidance in order to help ensure your plan is comprehensive and accurate.

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Electrical Contractor Business Plan Sample

Published Dec.30, 2020

Updated Apr.22, 2024

By: Noor Muhammad

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Table of Content

Electrical Contractor business plan for starting your own business

So, you want to become an electrical contractor. Well, this is undoubtedly an exciting venture, but can end up causing huge legal troubles if you couldn’t manage it properly.

An electrical contractor can be a person or company that employs electricians to design, install, and maintain electrical systems. Due to the delicate nature of work, the company is required to comply with specific standards.

To succeed in this challenging yet profitable enterprise, you must write an effective business plan for electrical contractor as the first step. In your business plan, you must include details about how you will train the employees, reach your customers, and obtain your goals within the resource constraints.

If you don’t know how to write an effective business plan, you can take help from here. In this electrical contractors business plan pdf, we have provided all the details of an electrical contractor startup, E-Volts.

Executive Summary

2.1 the business.

E-Volts will be a registered, licensed, certified, and insured electrical contractor company based in Detroit. The business will comprise of highly trained electricians and supervisors to ensure the highest-quality work delivery.

From installation of transmission and distribution lines to the provision of electricity to buildings, E-Volts will be there to shine and help.

2.2 Management of Electrical Contractor

Managing an electrical contractor business requires extensive pre-planning. In some cases, even a smaller mistake can lead to a disastrous situation. Therefore, you should be very careful about all the details.

E-Volts will lease a facility in Detroit to set up their office. Following that, a procurement and HR manager will be hired so that the company could find the best equipment and the best hands to handle the equipment.

To manage the tasks effectively, E-Volts will be creating a database so that employees’ activities and engagements could be recorded. And the availability of specified workers could be ensured for upcoming projects.

2.3 Customers of Electrical Contractor

Before exploring how to start an electrical contractors business, you should identify your customers. Knowing your client base will help you to develop a sales strategy that is best suited to target them. Besides, recognizing customers will also enable you to create a precise electrical contractor startup plan by defining pricing, and services, etc.

E-Volts will provide its services to individuals, businesses as well as local government. In this business plan electrical contractor, we will be discussing the ways E-Volts will adopt to target these customers.

2.4 Business Target

Our target is to become the most renowned electrical contractor business in our vicinity within a year of the launch. Moreover, we aim at generating a net profit margin of $10.5k per month by the end of the two years. Our 3 years’ profit forecast based on our gross profit margin, sales forecast and net profit is given here:

Company Summary

3.1 company owner.

E-Volts will be owned by Mark Koch. Mark is an electrical engineer who has also acquired a degree in MBA after his graduation in engineering. He has a strong grip on power and protection systems. He has also captured much experience in the field as he did electrical systems’ related jobs during the last two years.

3.2 Why the electrical contractor is being started

Marks always wanted to start his own business. As business offers flexibility and scalability, extensive profits and freedom to implement own ideas.

He opted for starting an electrical contractor business since there couldn’t be a better way to invest his interest and knowledge of electrical systems.

3.3 How the electrical contractor will be started

Step1: Creating A Business Plan

Before starting this business, you must create a detailed electrical contractor business plan template.

If you are new to creating a professional business plan, you can take help from this electrical contractor business plan example.

Step2: Acquiring Required Licenses & Permits

Step3: Leasing Property, Equipment & Hiring Managers

E-Volts will be started in a leased facility. After which the company will procure the equipment, machinery, furniture, and other items.

Step4: Establishing Company’s Database & Website

A software developer/ IT expert will be employed to create a management database and website for the company. The database will help the company in keeping a record of completed and pending activities. Moreover, the platform will also enable customers to book the services remotely and give their reviews and feedbacks.

Step5: Hiring & Training Staff

At the same time, the company will establish its workforce by hiring and training technicians and electricians. In this sample electrical contractors business plan we will provide the list of employees that will be hired by E-Volts along with their job responsibilities and estimated salaries.

Step6: Marketing & Advertisement

To reach its target community E-Volts will start advertising about its services and competitive aspects before a month of the launch. The detailed marketing and sales strategy plan of the company will be given in the upcoming sections.

Our startup expenses and available assets are summarized in the graph given here.

Deciding the services is the most important phase of a business. In this sample business plan for electrical contractor, you can look through the services provided by E-Volts. To have a greater idea of which services you can provide as an electrical contractor, you should read more electrical contractor business plan examples.

• Interior & Exterior Lighting: This will be our primary service. We will design and install lighting in homes, school buildings, plazas, restaurants, public spaces, and government buildings.

Areas Of Expertise:

• Home Décor Lighting
• Flush Mount and Semi-Flush Mount Ceiling Lighting
• Outdoor Landscape Lighting
• General Ambient Lighting
• Street Lighting
• Smart Lighting System
• Electronic Appliances Installation: Our workers specialize in installing air-conditioners, fans, electric chargers, motors, generators, transformers, solar panels, intercom, doorbells, circuit breakers, network wiring, and smart home wiring.
• House & Commercial Wiring Services: We will do wiring in homes and small buildings’ as well as in commercial properties.
• Installation of Underground/ Overhead Transmission Lines: Our workers are also skilled in the installation and removal of distribution & transmission lines whether they are overhead or underground.
• Repair and Upgradation: We have experts who can repair and upgrade electrical systems. You can have us at your doorstep whether you want just a fuse replacement or a complete electrical service upgrade. We also repair electronic appliances.
• Safety Systems: E-Volts specialize in protecting your power systems. We can tackle power surges. And we can also install safety systems in your homes like childproof electrical outlets, smoke detectors, and fire detectors, etc.

Marketing Analysis of Electrical Contractor

Marketing analysis is one of the most important parts of a business plan template electrical contractor. In this part, you have to identify who will be your customers so that you could meet their expectations and concerns within the available budget and resources.

The biggest problem new startups face is attracting potential customers. With a problem worth solving electrical contractor business plan you can understand your target customers’ psychology to determine their preferences and needs.

An effective electrical contractor business plan also includes a detailed analysis of market dynamics. By knowing the market ups and downs, and the strengths and weaknesses of your competitors, you can plan ways to outperform your competitors.

5.1 Market Trends

These days people are moving towards newer technologies. Some want to install a newer type of power outlet while some want to have a smart lighting system. Simply put, electricians are in demand like always. The only thing that can make you unsuccessful in this venture can be a really poor service delivery or extremely bad customer care.

According to IBIS World, nearly 205,048 electrical contractors are operating in the U.S. Their collective annual revenue sums up to $170bn as reported by First Research.

Business plan for investors

5.2 marketing segmentation.

Marketing segmentation means dividing the population of your target customers into distinct groups. So that you can determine the dominant traits of each group of your buyers.

This activity can help you get an insight into how you should plan your services, pricing, and customer care.

In this blog on how to write a business plan for an electrical contractor, we have listed the marketing segmentation done by E-Volts.

The detailed marketing segmentation of the target audience of E-Volts is as follows:

5.2.1 Residents: Our first target group will be the locals living in Detroit. We expect them to avail of our lighting services as well as repair & upgradation services. The residents will also be needing us frequently for the installation or replacement of electronic appliances and safety systems.

5.2.2 Businesses: Our second target group comprises of small and large businesses. They will consume all of our services like electrical repairing, AC installation, commercial wiring, ceiling lighting, etc.

In this category, restaurants, shopping malls, and cinemas, etc. will require our landscaping lighting, interior & exterior lighting, and ambient lighting the most. To turn them into potential buyers, we will be offering them several discounts.

5.2.3 Local Government & Construction Companies: Our third target group will comprise municipalities and home builders. They are expected to avail of our electronic appliances installation services, lighting, repair & upgrade services, as well as commercial wiring services.

This category will also be acquiring our wiring services.

5.3 Business Target

Our business targets set to be met in a defined time are given below.

• To obtain an average rating of 4.65 by the end of the first year
• To balance startup expenses with earned profits by the end of the second year
• To achieve the net profit margin of $10.5k per month by the end of the second year
• To extend our work areas by the end of the first two years

5.4 Product Pricing

Our prices will almost be in the same range as that of our competitors. However, we will be charging a little more for the installation, removal, and repair of transmission and distribution lines.

Marketing Strategy

In this electrical contractor business proposal, we are listing the ways adopted by E-Volts to reach their target customers. Moreover, we are also explaining the competitive advantages that E-Volts decided to come up with to go ahead of all competitors.

6.1 Competitive Analysis

• All of our professionals are skilled, licensed, and certified.
• We follow the National Electrical Code to ensure safe and secure working.
• We are offering an online booking facility so that our customers can call us to their location without visiting our office.
• In case of repairing services, our workers will reach the desired area in less than 45 minutes.
• Client satisfaction is our topmost priority. You can contact us anytime between 6 a.m. to 12 p.m. Moreover, you can tell us any problems you had with our workers through the feedback portal. You are also welcomed to give your valuable suggestions to improve our services.

6.2 Sales Strategy

The selling strategy of E-Volts as defined in its business plan electrical contractor is given here.

• We’ll create a great SEO optimized website for our business
• We’ll advertise our services through Google Local Services ads, local magazines, and newspapers
• We’ll ensure a strong presence on social media platforms
• We’ll offer a 50% discount on our lighting and repair services for the first month of the launch

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

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Personnel plan

To ensure the smooth running of the business and efficient tackling of any disruptions or risks, you have to train your workers properly. E-Volts hired a business continuity coordinator to develop business continuity plan electrical contractor so that company can stay competitive.

The list of staff E-Volts will hire is given here in this business plan sample electrical contractor, along with their job responsibilities and average salaries.

7.1 Company Staff

Mark will supervise overall business operations himself, however, he will hire the following people.

• 1 Co-Manager & HR Manager to help manage the business
• 3 Supervisors to monitor different projects
• 1 Business Continuity Coordinator to manage threats and risks
• 2 Electrical Engineers to design electrical systems
• 6 Electricians to work for the company
• 1 Accountant to maintain financial records
• 1 Sales Executive to carry out the company’s sales strategy plan
• 2 Drivers to provide transport
• 1 IT Expert to manage company’s sites and database
• 1 Customer Care Representative

7.2 Average Salary of Employees

Financial Plan

The last step before initiating a business is creating a financial plan. A profit and loss business plan electrical contractor template analyze your investment group business plan , payrolls, taxes, and other expenses to draft a way of earning profits. In this electrical contractor business plan pdf we are providing detailed brake-even analysis, profit and loss projections, business balance sheet, and business ratios of E-Volts.

8.1 Important Assumptions

8.2 Brake-even Analysis

8.3 Projected Profit and Loss

8.3.1 Profit Monthly

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

8.5 Projected Balance Sheet

8.6 Business Ratios

Download Electrical Contractor Business Plan Sample in pdf

Professional OGS capital writers specialized also in themes such as electronics semiconductor business plan , solid manufacturing business plan , mining company business plan , steel sheet manufacturing business plan , biodiesel company business plan , diamond cutting and polishing business plan , etc.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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How to Write a Business Plan for a Electrical Contractor

• September 14, 2022
• Small Businesses

Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) for your electrical contractor company, you will need to prepare a solid business plan.

In this article we go through, step-by-step, all the different sections you need in the business plan of your electrical contractor business. Use this template to create a complete, clear and solid business plan that get you funded.

1. Electrical Business Executive Summary

The executive summary of a business plan gives a sneak peek of the information about your business plan to lenders and/or investors.

If the information you provide here is not concise, informative, and scannable, potential lenders and investors will lose interest.

Though the executive summary is the first and the most important section, it should normally be the last section you write because it will have the summary of different sections included in the entire plan.

Why do you need a business plan for an electrical business?

The purpose of a business plan is to secure funding through one of the following channels:

• Obtain bank financing or secure a loan from other lenders (such as a SBA loan )
• Obtain private investments from investment funds, angel investors, etc.
• Obtain a public or a private grant

How to write an executive summary for an electrical business?

Provide a precise and high-level summary of every section that you have included in the business plan of your electrical business. The information and the data you include in this segment should grab the attention of potential investors and lenders immediately.

Also make sure that the executive summary doesn’t exceed 2 pages in total: it’s supposed to be a summary for investors and lenders who don’t have time to scroll through 40-50 pages, so keep it short and brief.

The executive summary usually consists of 5 major sub-sections:

• Business overview : start by introducing your proposed electrical contracting firm, where it is located, the services you will offer, and the pricing strategy you want to implement. Mention what sets you apart from other businesses. For example, you may be a master electrician with a decade of experience in designing electrical systems.
• Market analysis : summarise the market where you will operate and provide a brief about your target market , target audience , spending capability, etc. Also give certain data points about the electrical contractor business industry in the area where you want to operate (size and growth), as well as an overview of the main competitors, etc.
• People : introduce your electrical business’ management and employee structure. Provide a brief (no more than a couple of sentences each) of the knowledge and experience of the team. Also, mention how the company will be structured (management roles and reporting lines)
• Financial plan: how much profit and revenue do you expect in the next 5 years? When will you reach the break-even point and start making profits? You can include here a chart with your key financials (revenue, gross profit, net profit )
• Funding ask : what loan/investment/grant are you seeking? How much do you need? How long will this last?

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Download an expert-built 5-year Excel financial model for your business plan

2. Electrical Business Overview

In this segment of the business plan, you will provide details about your proposed electrical contracting firm.

You must answer here some important questions that potential investors and lenders often ask about your business and operations. Here are some examples of questions you must answer:

• What is the rationale behind your opening an electrical contractor business today?
• In which location will you operate and why?
• What type of services will you offer?
• Are there specific types of services and/or industries that you specialize in?
• What will be your pricing strategy and why?
• What will be the legal structure of your company?

a) History of the Project

Any business overview must start with explaining the history of the project. There are 2 components here:

• Passion & experience of the business owner
• Rationale behind starting an electrical business today

Passion & experience

You must display your passion while at the same time, you must also showcase your experience. For instance, you may have 10 years of journeyman experience, or you may be a master electrician with the ability to design ground-breaking electrical systems.

Is there a certain problem (or perhaps, a set of problems) that your electrical contracting firm will try to solve when it comes into existence?

For example, there may be a steady increase in demand for commercial electrical contracting firms but there are only a few unorganized service providers incapable of efficiently handling commercial contracts.

The rationale behind your project must be backed up by a thorough analysis of the industry in the area where you plan to open your electrical contractor business. This is what we will cover under Market Overview further below.

b) Business Model

This section of the Business Overview should explain the model you want to adopt for your electrical contractor business. For example:

• Which target audience segment you will focus on and why?
• Is there enough demand for that segment in your focus area?
• What type of services you will offer?

What are the different types of e lectrical contractor companies?

You may choose one of the following:

• Residential Electrical Contractors: They usually collaborate with homeowners to design or install electrical systems
• Commercial Electrical Contractors : They usually focus on commercial and outdoor spaces like malls, shops, college campuses, gardens, parks, etc.
• Industrial Electrical Contractors : They usually focus on larger products like industrial manufacturing areas, warehouses, etc.

No matter what you select, you must ensure that there is enough demand for the type of electrical contracting firm you want to open and the range of services you will offer.

c) Services

The services you offer will depend on the type of customers you will serve and also on the skills you have. Provide a quick list of the major services that you will offer. Some services may include things like:

• Exterior and interior lighting
• Installation of safety systems & electronic appliances
• Electrical wiring and transmission line installation
• Repairs & upgrades, etc.

d) Pricing Strategy

This is where you will provide an overview of your pricing strategy. For instance, you may charge higher than your competitors because you may have a team of highly experienced electricians and also because you use high-quality wires and other materials than your competitors.

Similarly, you may decide to charge lower than your competitors because of the bulk purchase of products like wires, switches, etc., which allows you to bring down the cost of your services.

Whatever the case is, explain your pricing strategy and the logic behind it.

Pricing table

While it may not be possible to provide a proper pricing table for all services that you will offer, it is still a great idea to provide a table that gives an overview of your pricing structure.

Providing individual pricing for all services may not be possible, however, you may provide a range. For example:

• Smart systems installation: $75 to $150 per hour (depending on the system and area)
• Repair and upgrades: $80 to $120 per hour

However, don’t go into extreme details because potential investors are not interested in the nitty-gritty of your pricing. They just need the big picture to assess the profitability, because they will tie your pricing strategy with your financial projections later on.

e) Company Legal Structure

Finally, your business overview section should specify what type of business structure you want. Is this a corporation or a partnership (LLC)? Who are the investors? How much equity percentage do they own? Is there a Board of Directors? If so, whom? Do they have experience in the industry?

3. Electrical Business Market Overview

A complete understanding of the market where you want to operate is important for the success of your business. That’s also something you must showcase in your business plan.

For example, if there is a high demand for residential and commercial electrical contractors but you want to focus on industrial customers despite a very small market size , it may not be a great business decision.

Therefore, you must cover here 3 important areas:

• Market size & growth : how big is the electrical contractor business industry in your area? What is its growth rate (or decline rate) and what are the factors contributing to its growth or decline?
• Competition overview : how many competitors are there? What type of customers do they serve? What type of projects do they specialize in? How do they compare vs. your business? How can you differentiate yourself from them?
• Customer analysis : who is your target audience? How frequently do they require electrical contractor services? What is their yearly spending on electrical contractor services?

a) Electrical Contractor Industry Size & Growth

How big is the electrical contractor industry in the us.

In 2021 there were over 70,000 electrical contracting firms in the US employing about 650,000 electrical workers.

As per the National Electrical Contractors Association (NECA) the industry is worth $202 billion: that’s an average annual turnover of $2,800,000 per company! 

Also, the vast majority of electrical contractors are small businesses: over 80% of all businesses had less than 10 employees.

How big is the electrical contractor industry in your area?

After getting a clear picture of the electrical contractor business industry in the US as a whole, narrow down to your location. It’s very likely that you won’t find the number anywhere (at least not for free).

In that case, you can use our guide to estimate the TAM, SAM, and SOM for your business. Here is an example of how to do it:

We already know that the average annual turnover for electrical contracting firms in the US is $2.8 million. Therefore, if the area where you will operate (a city for example) has a total of 30 electrical contractors, the electrical service industry in the area is worth approximately $84 million.

What’s the market growth of the electrical contractor industry in your area?

Next on our list is market growth: is the industry growing or declining in your area?

US market growth can be a great addition to your business plan, yet it doesn’t necessarily help to assess the industry in your area of service. For example, the industry might be growing in the US, but declining in your region for a number of reasons (for example, the large commercial market may be contracting because businesses are shutting down due to losses, resulting in the closure of electrical contractor businesses that focused on the commercial market).

As you likely won’t find this information online, you can instead rely on the number of electrical contractor businesses in the location to calculate the average growth rate of the industry in your area.

For example, if the region had only 27 electrical contractor businesses in 2019 and 30 in 2021, you can assume that the average annual growth rate of the electrical contractor businesses industry in the area is around 5-6%.

b) Competition Overview

Studying your competitors’ business models is vital. You need to understand what makes them successful or why they fail. A clear understanding of their business model, the products they sell, their marketing strategies, etc., will allow you to provide a better service.

If your competitors are offering nearly the same services, then what is their market share and how do they market their products & services to attract new customers?

It is always a good idea to do some research (if necessary, you may consider physically visiting your competitors without revealing your business intentions) and create a comparative table summarizing their service offerings, marketing strategies, target audience, etc.

Here is a sample table that you can use:

Electrical Business SWOT Analysis

SWOT stands for Strength, Weakness, Opportunities, and Threats. This analysis will help lenders and investors better understand how you compare vs. competitors as well as the overall risk and reward profile of your business.

Here is a sample that you can use as a reference:

• Strengths : 12 years of experience as a master electrician in a popular electrical contractor company
• Weaknesses : Startup cost, no initial brand reputation
• Increased construction of residential apartments due to demand spike in rental housing and builders are looking for skilled electricians for wiring everything (backup with data for population and real estate boom)
• Growth in retail stores and malls (because of population influx), which in turn has increased the demand for electricians for installation and maintenance (provide data)
• Increased commercial warehouse construction because of increased regional distribution centers by e-commerce retailers that require electrical installations (provide data and explain why there is an increase in commercial warehouse construction – for example, increased demand and hence imports of cheaper products)
• Threats : Big brands like Helix Electric, Bergelectric, & Cupertino Electric, Inc. are all eyeing the growing market

c) Customer Analysis

Finally, we need to look at your customers.

However, the first thing you must do is clearly define the target audience. For instance, you may serve individual households, commercial establishments, or even industrial establishments.

Some important points that you must include in your customer analysis include:

• How much do your target customers spend on electrical services per year?
• How frequently do they need electrical contractors?
• What type of electrical services do they usually require (fresh installations, inspections, repairs, etc.)?
• What type of electrical contractors do they usually hire (big brands, small contractors, individual electricians, etc.)?
• What do they dislike about the existing electrical contractors in the area (for example, slow response time)?

4. Sales & Marketing Strategy

This is the section where you outline your customer acquisition strategy. Try to answer here the following questions:

What is your Unique Selling Proposition (USP)?

• What are the different marketing strategies you will use?
• How do you intend to track the success of your marketing strategy ?
• What is your CAC or customer acquisition cost?
• What is your marketing budget?
• What introductory promos and offers do you intend to provide for attracting new customers?
• What marketing channels do electrical businesses use?

What marketing strategies do electrical contractors use?

A few marketing channels that electrical businesses typically use are:

• Signages, vehicle branding
• PPC ads (Google local services ads)
• Social media platforms
• Flyers & pamphlets
• Word of mouth, recommendations

It is not necessary to use all channels. Instead, you can start by focusing on a few of them, and include other marketing strategies later.

In other words, how do you differentiate yourself vs. competitors? This is very important as you might need to win customers from competitors.

A few examples of USPs are:

• Response Time : you may respond within 30 minutes (whatever you can commit to), which is faster than any competitor 
• Emergencies : you may have years of experience dealing with electrical emergencies that can potentially cause immense damage to life and property
• Free inspection : you may offer one free inspection of wiring and other installations once every quarter

Your USP will depend on your business model, competitor analysis , and target audience. Whatever your USP be, it should be clear and appealing to your target audience.

5. Management & People

You must address two things here:

• The management team and their experience
• The organization structure : different team members and who reports to whom?

Small businesses often fail because of managerial weaknesses. Thus, having a strong management team is vital. Highlight the experience and education of senior managers that you intend to hire to oversee your electrical business.

Describe their duties, responsibilities, and roles. Also, highlight their previous experience and explain how they succeeded in their previous roles.

It is also important that you explain how their experiences and qualifications help you in implementing the electrical business you are proposing. If they have specialized training and experience (master electrician or journeyman electrician for 8 years in a reputed electrical contractor firm), add that information.

Organization Structure

Even if you haven’t already hired electricians, trainees, managers, drivers, accountants, and other relevant staff members, you must provide a flowchart of the organizational structure defining hierarchy and reporting lines.

6. Financial Plan

The financial plan is perhaps, with the executive summary, the most important section of any business plan for an electrical contractor company.

Indeed, a solid financial plan tells lenders that your business is viable and can repay the loan you need from them. If you’re looking to raise equity from private investors, a solid financial plan will prove them your electrical contractor company is an attractive investment.

There should be 2 sections to your financial plan section:

• The startup costs of your company
• The 5-year financial projections

a) Startup Costs

Before we expand on 5-year financial projections in the following section, it’s always best practice to start with listing the startup costs of your project.

For an electrical contractor company, startup costs are all the expenses you incur before you start making sales. These expenses typically are limited especially for small businesses and include:

• The lease deposit (if you rent an office and/or warehouse for your equipment)
• Electrical equipment, tools, etc.
• License & permits, business insurance, etc.

Of course, the startup costs depend on a number of factors, like the size of your business (employees), the services you plan to offer (which will dictate what equipment you may need), etc.

b) Financial Projections

In addition to startup costs, you will also need to build a solid 5-year financial model in the business plan of your electrical company.

Note that your financial projections should be built using a spreadsheet (e.g. Excel or Google Sheets) and presented in the form of tables and charts in your business plan.

As usual, keep it concise here and save details (for example detailed financial statements, financial metrics, key assumptions used for the projections) for the appendix instead.

Your financial projections should answer at least the following questions:

• How much revenue do you expect to generate over the next 5 years?
• When do you expect to break even?
• How much cash will you burn until you get there?
• What’s the impact of a change in pricing (say 10%) on your margins?
• What is your average customer acquisition cost?

You should include here your 3 financial statements (income statement, balance sheet and cash flow statement). This means you must forecast:

• The number of contracts (customers) over time ;
• Your expected revenue ;
• Operating costs to run the business ;
• Capex (cost to buy the equipment and vehicles, etc.)

When projecting your financials, make sure to sensitize sales volume (customers), pricing as well as the expenses (inventory, salaries, etc.). Indeed, a small change in these assumptions may have a significant impact on your revenues, and most importantly, your profits.

7. Use of Funds

This is the last section of the business plan of your electrical contractor company. Now that we have explained what your business model is, what type of services you offer, how you get customers, etc., this section must now answer the following questions:

• How much funding do you need?
• What financial instrument(s) do you need: is this equity or debt, or even a free-money public grant?
• How long will this funding last?
• Where else does the money come from? If you apply for a SBA loan for example, where does the other part of the investment come from (your own capital, private investors?)

If you raise debt:

• What percentage of the total funding the loan represents?
• What is the corresponding Debt Service Coverage Ratio ?

If you raise equity

• What percentage ownership are you selling as part of this funding round?
• What is the corresponding valuation of your business?

Use of Funds

Any business plan for an electrical contractor company should include a clear use of funds section. This is where you explain how the money will be spent.

Will you spend most of the loan / investment in paying your employees’ salaries and the COGS (inventory)? Or will it cover mostly the cost for acquiring the equipment and machines?

For the use of funds, we also recommend using a pie chart like the one we have in our financial model template where we outline the main expenses categories as shown below.

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Electrical Contractor Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Construction & Engineering

Are you about starting an electrical contractor business? If YES, here’s a complete sample electrical contracting business plan template & feasibility report you can use for FREE to raise money .

If you have studied an electrical related business, or you have the passion for electrical stuff, then you may want to be an electrical contractor. One of the things that you have to however have at the back of your mind is the fact that you will need to arm yourself with the right information that will be able to operate of a very skilled level.

A Sample General Electrical Contractor Business Plan Template

1. industry overview.

Electric contractors are an integral part of not just the construction cum real estate industry, but plays very important roles in ensuring that households, offices and public facility enjoys electric power supply and electric appliances are repaired when they become faulty.

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Basically, players in this industry executes electrical work at a sites such as installing wiring, services electrical equipment and sells and installs electrical equipment et al. So also, some of the electrical work they performed include new work, additions, alterations, and maintenance and repairs et al.

No doubt, the electrical contractor services industry is indeed one of the largest subcontracting industries in the united states of America going by the revenue generated in the industry. A close watch on the industry activities shows that the revenue increase is due to acceleration in downstream construction markets in the United States.

As a result of the steady increase of demand from downstream construction markets, activities in this industry, registered businesses and of course contracts / job numbers have been on a steady rise. Going forward, the construction industry and real estate industry are expected to continue thriving hence increase in the demand for the services of electrical contractors.

So also, the industry is also expected to benefit from the increase in renovation and retrofitting activities, principally for green upgrades, such as energy-efficiency projects et al.

The Electrical Contractor Services industry is indeed a thriving and profitable industry in the United States, Canada, Japan, Germany, united kingdom, and France and in almost all the countries of the world. Statistics has it that the Electrical Contractor Services industry in the United States of America, is worth over $135 billion, with an estimated growth rate of 1.9 percent.

There are about 202,274 registered and licensed electrical contractor services businesses in the United States and they are responsible for employing about 909,862 people. It is important to state that there is no company with a dominant market share of the available market in this industry.

According to research carried out by IBISWORLD, it  shows that, the small-scale and localized nature of operations in the Electrical Contractor Services industry results in a geographically dispersed structure that corresponds to the distribution of population and of course economic activity throughout the United States of America.

So also, most small-scale electrical contractors target a narrow, regional market, while larger-scale electrical contractors often undertake maintenance and construction contracts throughout several states. It was also indicated in the report that the Southeast region of the United States accounts for an estimated 23.7 percent of the industry establishment, which is roughly in line with the region’s share of the national population (25.6%).

The electrical contractor services industry will keep on thriving in the coming decade especially if an entrepreneur in this line of business is committed to providing reliable and quality work for customers in the services they render. The market is highly unsaturated and there is room for growth as the industry is expanding and maturing.

The good news for would be entrepreneurs in this line of business is that there is an estimate of continued annual growth for the electrical contractor services industry for as high as 20 percent.

Over and above, the electrical contractor services industry is very open to any aspiring entrepreneur who has acquired the required trainings, skills and perhaps professional certifications to start his or her own business and of course make good money from the industry.

2. Executive Summary

James Guttmann & Sons Electrical Services, Inc. is a licensed and standard American electrical contractor services company. We have been able to secure a standard and well – positioned office facility in a central business district in Little Rock – Arkansas.

We are an electrical contractor services company that is set to compete in the highly competitive electrical contractor services industry not only in Little Rock – Arkansas, but also throughout the United States market. James Guttmann & Sons Electrical Services, Inc. is set to executes electrical work at a sites such as installing wiring, services electrical equipment and sells and installs electrical equipment et al.

Basically, we will provide services such as electric power and systems installation and servicing, telecommunications installation and servicing, fire and security system installation and servicing, electronic control system installation and servicing et al.

Our business goal is to become one of the leading electrical contractor service companies in the United States and we will make sure that we do all we can to compete favorably with leaders in the industry.

Our workers are going to be selected from a pool of certified and highly experienced electrical technicians and tradesmen (electricians) with different area of expertise as it relates to our service offerings in and around Little Rock – Arkansas and also from any part of the United States of America as the business grows.

We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with leading electrical contractor services companies in the United States and throughout the globe.

At James Guttmann & Sons Electrical Services, Inc., our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for all our partners, employees and for our clients. James Guttmann & Sons Electrical Services, Inc. is a family business that is founded by Engr. James Guttmann a graduated from Illinois Institute of Technology B.Engr. in electrical and electronics engineering.

He will run the business alongside his son Ken Guttmann who has a B.Sc. in Business Administration. They have a combine experience that can help them build James Guttmann & Sons Electrical Services, Inc. to favorably compete with other leading electrical contractor services businesses in the United States of America.

3. Our Products and Services

James Guttmann & Sons Electrical Services, Inc. is established with the aim of maximizing profits in the electrical contractor services industry.

We want to compete favorably with the leading electrical contractor service companies and also installation, maintenance and repair companies in the United States- which is why we have put in place a competent quality assurance team that will ensure that every electrical repairs, installations and services carried out or related services rendered meet and even surpass our customers’ expectations.

We will work hard to ensure that James Guttmann & Sons Electrical Services, Inc. is not just accepted in Little Rock – Arkansas but also in other cities in the United States of America. Our service offerings are listed below;

• Electric light or power installation
• Electric wiring installation on construction projects
• Repair or maintenance of electrical wiring (except of electricity transmission or distribution lines)
• Domestic exhaust fans installation
• Closed-circuit video surveillance systems installation
• Communication wiring and cabling installation
• Electric power and systems installation and servicing
• Telecommunications installation and servicing
• Fire and security system installation and servicing
• Electronic control system installation and servicing
• Repairs and maintenance of communication and electrical equipment
• Other related electrical installation, maintenance and repair services

4. Our Mission and Vision Statement

• Our vision is to establish a standard and all – round electrical contractor services company whose services and brand will not only be accepted in Little Rock – Arkansas but also in other cities in the United States of America.
• Our mission is to provide professional electrical installation, maintenance and repair services and other related services that will assist businesses, individuals, households and non-profit organizations in ensuring that their facility and electrical equipment are always in good shape.
• We want to build an electrical contractor service company that can favorably compete with other leading brands in the electrical contractor services cum installation, maintenance and repair services industry.

Our Business Structure

James Guttmann & Sons Electrical Services, Inc. is a business that intend starting small in Little Rock – Arkansas, but hope to grow big in order to compete favorably with leading electrical contractor Services Company and installation, maintenance and repair companies in the industry both in the United States and on a global stage.

We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.

At James Guttmann & Sons Electrical Services, Inc. we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer
• Head, Technical Services (Senior Electrical Engineer)
• Human Resources and Admin Manager
• Sales and Marketing Executive

Electrical Engineers and Electricians

Client Service Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Responsible for providing direction for the business
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization

Head, Technical Services (Senior Electrical Engineer):

• Serves as project manager of the organization; works directly with employees
• Develops strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
• Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
• Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
• Builds company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
• Maintains quality service by establishing and enforcing organization standards.
• Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
• Makes certain that the technical department perform efficiently, coordinate employee efforts, and facilitate communications between management and handymen
• Ensures that the organization work in line with international best practices.

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Designs job descriptions with KPI to drive performance management for clients
• Regularly holds meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily office activities.

Sales and Marketing Manager

• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Models demographic information and analyze the volumes of transactional data generated by customer
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Creates new markets cum businesses for the organization
• Empowers and motivates the sales team to meet and surpass agreed targets

Accountant / Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for James Guttmann & Sons Electrical Services, Inc.
• Serves as internal auditor for James Guttmann & Sons Electrical Services, Inc.
• Responsible for carrying out electric light or power installation
• Responsible for carrying out electrical wiring installation on construction projects
• Handles repair or maintenance of electrical wiring (except of electricity transmission or distribution lines)
• Responsible for carrying out domestic exhaust fans installation
• Handles closed-circuit video surveillance systems installation
• Handles communication wiring and cabling installation
• Handles electric power and systems installation and servicing
• Responsible for telecommunications installation and servicing
• Handles fire and security system installation and servicing
• Responsible for electronic control system installation and servicing
• Handles general repairs and maintenance of communication and electrical equipment
• Handles other related electrical installation, maintenance and repair services as instructed by the Head, Technical Services.
• Welcomes clients and potential clients by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the creative director in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

6. SWOT Analysis

James Guttmann & Sons Electrical Services, Inc. engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured electrical contractor services company that can favorably compete in the highly competitive electrical contractor services cum electrical installation, maintenance and repair service industry in the United States and the world at large.

Part of what the team of business consultant did was to work with the management of our organization in conducting a comprehensive SWOT analysis for James Guttmann & Sons Electrical Services, Inc. Here is a summary from the result of the SWOT analysis that was conducted on behalf of James Guttmann & Sons Electrical Services, Inc.;

Our core strength lies in the power of our team; our workforce. We have a team of certified and highly trained and experience electrical engineers and electricians / technicians et al, a team with excellent qualifications and experience in various niche areas in the electrical contractor services cum installation, maintenance and repair service industry.

Aside from the synergy that exists in our carefully selected workforce, our services will be guided by best practices in the industry.

As a new electrical contractor services company in Little Rock – Arkansas, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients (construction companies) in the already saturated and highly competitive electrical contractor services and installation, maintenance and repair services industry; that is perhaps our major weakness.

Another weakness is that we may not have the required cash to pump into promoting our business the way we would want to.

• Opportunities:

No doubt, the opportunities in the electrical contractor services and installation, maintenance and repair services industry is massive considering the number massive activities going on in the construction cum real estate industry and also the numbers of households and corporate organizations who are would always need one or more electrical appliances or wiring to fix in their facilities.

As an electrical contractor services company, we are ready to take advantage of any opportunity that is available in the industry.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power.

Another threat that may likely confront us is the arrival of a new electrical contractor services business or even installation, maintenance and repair company in same location where our target market exist and who may want to adopt same Business model like us.

7. MARKET ANALYSIS

• Market Trends

No doubt, the electrical contractors industry is indeed one of the largest subcontracting industries in the United States of America going by the revenue generated in the industry. A close watch on the industry activities shows that the revenue increase is due to acceleration in downstream construction markets in the United States.

As a result of the steady increase of demand from downstream construction markets, activities in this industry, registered businesses and of course contracts / job numbers have been trending upward. Going forward, the construction industry and real estate industry are expected to continue thriving hence increase in the demand for the services of electrical contractors.

So also, the industry is also expected to benefit from the increase in renovation and retrofitting activities, principally for green upgrades, such as energy-efficiency projects et al. On the average, starting and running an electrical contractor services business can be cost effective.

This is especially so when you have highly trained, well qualified and experienced staff as members of your team. With the quality of work carried out by them for your customers, you will be able to retain your customers and the good work your company does will be well spread by word of mouth as customers will tend to recommend your services to their families and friends once you are able to do a good job in their homes and on their properties.

A company’s ability in providing its customers with quality service at affordable prices will also be a factor that will count in the industry. This way the company will be able to retain existing clients and get more business from new customers. The competition in the electrical contractor industry shows that there is a viable market for the services of electricians.

As long as you are prepared to run a high quality business, you will have your own share of the market as some electricians business that exist take their customers for granted and offer them mediocre services. This gives you room as a new entrant into the business to come in and dominate if you are prepared to give quality service to your client.

8. Our Target Market

Before starting our electrical contractor services company in Little Rock – Arkansas, we conducted a market survey and feasibility studies and we are certain that there is a wide range of both corporate and individual clients who would need the services of electricians on a regular basis.

In view of that, we have created strategies that will enable us reach out to various corporate organizations and households who we know can’t afford to do without our services. Below is a list of the people and organizations that we have specifically market our services to;

• Construction and Real Estate Companies
• Banks, Insurance Companies and other related Financial Institutions
• Blue Chips Companies
• Corporate Organizations
• Real Estate Owners, Developers, and Contractors
• The Government (Public works department)
• Schools (High Schools, Colleges and Universities)
• Sport Facilities
• Religious Organizations
• Individuals and households

Our Competitive Advantage

Surviving in the business world as an electrical contractor services business or installation, maintenance and repair company requires more than, your expertise, knowing how to deliver standard electrical installations, repairs and maintenance jobs but also how to network with key people that matters; decision makers that can decide who will get an electrical installation, repair and maintenance contract.

There are favorable conditions for growth in the electrical contractor services industry and as a result of this, survival in the industry will require that you build on existing knowledge of the services you offer to your customers and broaden your skill base in order to be able to compete favorably.

More electrical contractor services companies are coming up and they are using the services of existing franchise in the business to boost their competitive edge and exposure in the industry.

We are quite aware that to be highly competitive in the electrical contractor services industry means that you are not only expected to be able to deliver consistent and highly reliable electrical installation, repair and maintenance jobs, but you must be able to meet set targets. No one would want to continue to hire your services if don’t always meet up with the target date of completion of projects.

Our competitive advantage lies in the power of our team; our workforce. We have a team of certified and highly trained and experience electrical engineers and electricians / technicians et al, a team with excellent qualifications and experience in various niche areas in the electrical contractor services cum installation, maintenance and repair service industry.

Lastly, all our employees will be well taken care of, and their welfare package will be amongst the best within our category (startups electrical contractor services cum installation, maintenance and repair businesses in the United States) in the industry.

It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

James Guttmann & Sons Electrical Services, Inc. is established with the aim of maximizing profits in the electrical contractor services industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients. James Guttmann & Sons Electrical Services, Inc. will generate income by offering the following services;

10. Sales Forecast

One thing is certain, there would always be construction and real estate companies, corporate organization, government agencies, households and individual who would need the services of electrical contractor services cum installations, maintenance and repair companies.

We are well positioned to take on the available market in the electrical contractor services industry and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our company to enviable heights.

We have been able to critically examine the electrical contractor services cum installation, maintenance and repair market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.

The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in Little Rock – Arkansas. Below is the sales projection for James Guttmann & Sons Electrical Services, Inc., it is based on the location of our business and of course the wide range of our services and target market;

• First Fiscal Year-: $ 250,000
• Second Fiscal Year-: $550,000
• Third Fiscal Year-: $1 million

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same electrical installation, maintenance and repair services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there is stiffer competition in the electrical contractor services industry; hence we have been able to hire some of the best marketing experts to handle our sales and marketing.

Our sales and marketing team will be recruited based on their vast experience in the electrical contractor services cum installation, maintenance and repair services industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of James Guttmann & Sons Electrical Services, Inc.

Our corporate goal is to grow James Guttmann & Sons Electrical Services, Inc. to become one of the top 10 electrical contractor services brands in the United States of America- which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Little Rock – Arkansas but also in other cities in the United States of America.

James Guttmann & Sons Electrical Services, Inc. is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our business by sending introductory letters alongside our brochure to individuals, households, construction and real estate companies, corporate organizations, religious organizations and key stake holders.
• Promptness in bidding for electrical installations, repair, and maintenance contract from construction companies, real estate companies, the government and other cooperate organizations
• Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
• List our business on yellow pages ads (local directories)
• Attend relevant international and local expos, seminars, and business fairs et al
• Create different packages for different category of clients in order to work with their budgets and still deliver excellent services
• Leverage on the internet to promote our business
• Engage direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for both corporate clients and households in the whole of Little Rock – Arkansas and beyond which is why we have made provisions for effective publicity and advertisement of our electrical contractor services company.

Below are the platforms we intend to leverage on to promote and advertise James Guttmann & Sons Electrical Services, Inc.;

• Place adverts on both print (newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our services
• Install our Bill Boards on strategic locations all around Little Rock – Arkansas
• Engage in road show from time to time in targeted neighborhoods
• Distribute our fliers and handbills in target areas
• Contact corporate organizations and households by calling them up and informing them of James Guttmann & Sons Electrical Services, Inc. and the services we offer
• List our company in local directories / yellow pages
• Advertise our company in our official website and employ strategies that will help us pull traffic to the site.

Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.

12. Our Pricing Strategy

At James Guttmann & Sons Electrical Services, Inc. we will keep the prices of our services below the average market rate for all of our customers, by keeping our overhead low and by collecting payment in advance from construction and real estate companies and other corporate organizations who would hire our services.

In addition, we will also offer special discounted rates to all our customers at regular intervals. We are aware that there are some one – off jobs or government contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.

• Payment Options

At James Guttmann & Sons Electrical Services, Inc. our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft
• Payment via mobile money
• Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a standard electrical contractor services company; it might differ in other countries due to the value of their money. However, this is what it would cost us to set James Guttmann & Sons Electrical Services, Inc. in the United of America;

• Business incorporating fees in the United States of America will cost – $750.
• The budget for Liability insurance, permits and license will cost – $3,500
• Acquiring an office space that will accommodate the number of employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $100,000.
• The amount required to purchase the needed tool box and repair equipment – $20,000
• Equipping the office (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $10,000
• Amount required to purchase the needed software applications to run our business – $3,500
• Launching an official Website will cost – $500
• Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
• Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $1,000

Going by the report from the market research and feasibility studies conducted, we will need about two hundred and fifty thousand ( 250,000 ) U.S. dollars to successfully set – up a medium scale but standard electrical contractor services company in the United States of America.

Generating Funding / Startup Capital for James Guttmann & Sons Electrical Services, Inc.

James Guttmann & Sons Electrical Services, Inc. is a family business that will be owned and managed by Engr. James Guttmann and his immediate family members. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings and sale of his stocks
• Generate part of the start – up capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $100,000 (Personal savings $70,000 and soft loan from family members $30,000) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting James Guttmann & Sons Electrical Services, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our electrical installation, maintenance and repair services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

James Guttmann & Sons Electrical Services, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Securing a standard office facility, renovation and equipping of the facility inclusive: Completed
• Application for business license and permit: Completed
• Purchase of All form of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the start – up capital from the founders: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of Logo for the business: Completed
• Purchase of repair and installation tools and equipment: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
• Creating Official Website for the business: In Progress
• Creating Awareness for the business: In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in the construction and real estate industries: In Progress

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A handy electrical contractor business plan template to help you launch your company

Creating a business plan is an impactful milestone when launching any new business. If you’re looking to become an electrical contractor or offer electrical services as part of your own business, this handy guide will take you through the process of writing an electrical contractor business plan.

What are the benefits of writing a business plan?

All small businesses need a business plan. Business plans guide small business owners through the research and market analysis process. The document helps entrepreneurs figure out their:

• Pricing strategy
• Target market
• Marketing strategy
• Business goals
• Financial plans

For electricians, in particular, creating an electrical contracting business plan can help you determine and finalize:

• Which types of electrical work to focus on
• Which electrical services you’ll offer (residential or commercial electrical services)
• Who your target customers are (homeowners, general contractors, etc.)
• Who you might partner with (i.e., a non-competitive construction company or contracting company)
• Which marketing strategies for electricians you’ll use

How to write a business plan for an electrical contractor

Here are some essential steps to create an effective electrical contracting business plan that sets your electrical contractor company up for success.

• Do your research. Find out what other electricians in your market are doing and identify the opportunities and risks for you.
• Clearly communicate your findings and ideas. Depending on who may read this business plan — potential investors, partners, lenders, team members or your future self — you want to put together a plan that’s engaging, informative and easy to understand.
• Be thorough and detailed. If you do it right, your business plan could help guide your overall strategy for years to come.
• Get help. If your expertise lies in offering electrical services but not all the aspects of a full business plan, consider hiring outside resources to help you. They can walk you through developing a marketing plan, knowing which social media channels to use, outlining business operations, preparing balance sheets and calculating your expected profit margin.

How can I get a free business plan template?

You can use the following components to help build your business plan. Use this as a template to define your business, outline your strategy, develop your marketing plan and present your financial projections.

1. Executive summary

In this section, you will summarize key highlights and findings from the rest of your business plan. It includes an overview of your company and business goals, your market analysis and financial outlook.

Although this section appears first within business plan templates, you will probably fill in this part last after you’ve completed the other areas. Think of this section as the key takeaways someone needs to know if they don’t bother reading the entire plan, the 30-second elevator pitch of what you’re hoping to accomplish that draws your audience in to learn more.

2. About the company

This is where you introduce your company to the readers of your business plan. This section should present:

• Your company name
• Your mission statement — your company’s purpose and reason for being
• Your business goals
• What type of company you are creating (LLC, S-Corp, etc.)
• Your team members (if any)
• The electrical services you plan to offer

3. Market analysis

This section should include your market research and cover the following key areas.

3.1 Industry analysis

What is the financial outlook for the overall construction industry? What’s the market size in your area and the potential for a new electrician or construction company in your market?

3.2 SWOT analysis

What are the potential strengths (competitive advantages), weaknesses, opportunities and threats for a new business like yours?

3.3 Target audience

Who are your target customers (residential or commercial or property managers, renters or homeowners)? What are their demographics?

3.4 Four P’s of marketing (product, place, promotion and price strategy)

This section should cover the following four P’s of marketing, essential to any marketing plan.

• Product: List the electrical services you plan to offer
• Place: Define the market or service area you plan to operate in
• Promotion: Go into detail about your marketing strategy — which marketing channels and tactics do you plan to use? How do you plan to reach, attract and convert new customers? Through word-of-mouth, social media or other methods?
• Price strategy: How do you plan to price your electrical services?

4. Financial plan

In this section, you should be prepared to include tables, charts and graphs and provide supporting financial statements for each of the key financials:

• Starting balance sheet
• Startup costs
• Projected cash flow — your financial projections for your income and expenses for the first three years
• Expected profit margin

5. Conclusion

Depending on the intended audience for this business plan, you may include a specific call-to-action. Direct them to your website to learn more or provide contact information for scheduling a meeting to learn about investing in your business.

What should your business plan cover? Top three questions your electrical contractor business plan should answer

Here are the critical questions you should answer in your business plan.

1. How do electrical contractors get clients?

Your electrical contractor business plan should include your electrician marketing plan , detailing how you plan to get clients, which channels you plan to use (social media, paid advertising, etc.) and your marketing budget.

2. Are electrical businesses profitable?

Your business plan should include a financial plan that lists your financial projections and spells out how you plan to have your own business become profitable. Include your:

• Projected cash flow
• Profit margins

3. What are the risks of being an electrical contractor?

Your business plan should include a SWOT analysis that details the potential strengths, weaknesses, opportunities and threats of starting an electrical contracting business. By proactively identifying risks, your audience will know you have done your homework.

Grow your electrical contractor business with Broadly

If you already run your own business or are looking to start a new business, Broadly is here to help you achieve all of your key milestones. From launching your small business website to growing your small business , Broadly’s suite of marketing tools can take care of your reputation management needs as your business expands.

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Business Plan

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A great business plan is essential for any successful business. Whether you're launching a new venture or growing an existing one, having a well-thought-out plan gives you the roadmap and clarity to make smart decisions.

Creating a comprehensive business plan doesn't have to be complicated or time-consuming. ClickUp's Business Plan Template helps you quickly and easily create a detailed plan to cover all the bases:

• Define your goals and objectives
• Develop your strategy and execution timeline
• Track progress, identify risks, and measure success

Make your vision come alive with the right business plan - ClickUp's template will help get you there!

A business plan template is an invaluable tool for any entrepreneur or small business owner. It can help you:

• Clearly define your business goals and objectives
• Identify your target market and customer segments
• Outline your competitive advantages
• Develop a strategy for success and growth

ClickUp's Business Plan Template is designed to help you create and track a comprehensive business plan. This List template includes:

• Custom Statuses: Create tasks with custom statuses such as Complete, In Progress, Needs Revision, and To Do to keep track of the progress of each step in the business plan
• Custom Fields: Categorize and add attributes such as Reference, Approved, and Section to manage your tasks and easily visualize the steps of a business plan
• Custom Views: Open 5 different views in different ClickUp configurations, such as Topics, Status, Timeline, Business Plan, and Getting Started Guide so that you can hit the ground running
• Project Management: Improve business plan tracking with tagging, nested subtasks, multiple assignees, and priority labels

Creating a business plan is an important first step when starting a business. A good business plan should outline your goals, strategies, and objectives. It should also include a timeline of when you plan to accomplish each step. With ClickUp, creating a comprehensive and effective business plan is easy. Here are five steps to get started:

Your business plan should start with a strong statement of your objectives. This will provide an overview of what your business is all about and what your goals are. Use a Doc in ClickUp to brainstorm ideas for objectives and collect feedback from your team.

Your business plan should also include a description of the products or services you offer. Describe the features and benefits of each product or service and explain how it meets customer needs.

Create tasks in ClickUp to list out the features and benefits of each product or service.

In order to make sure your plan stays on track, create a timeline of when you plan to accomplish each step of the plan. Use a Gantt chart in ClickUp to plan out tasks in chronological order and track your progress over time.

Your business plan should include measurable goals that you can use to track your progress. These goals should be specific, realistic, and achievable.

Create Goals in ClickUp to set measurable targets and track your progress.

Once your business plan is complete, share it with your team and review it regularly. This will help ensure that everyone is on the same page and working towards the same goals.

Set a recurring task in ClickUp to review your business plan and make any necessary changes.

Entrepreneurs and business owners can use this Business Plan Template to help everyone stay on the same page when it comes to planning and organizing business goals.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a successful business plan:

• Use the Topics View to organize tasks by area of focus
• The Status View will help you keep track of progress and update statuses as tasks are completed
• The Timeline View will help you create a timeline for each task and ensure that deadlines are met
• The Business Plan View will give you a space to store all of your business plan documents
• The Getting Started Guide will help you get up and running quickly and efficiently
• Organize tasks into four different statuses: Complete, In Progress, Needs Revision, To Do, to keep track of progress
• Set up notifications to stay up-to-date on progress
• Monitor and analyze tasks to ensure maximum productivity

Get Started with Our Business Plan Template Today

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Free PDF Business Plan Templates and Samples

By Joe Weller | September 9, 2020

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We’ve gathered the most useful collection of business plan PDF templates and samples, including options for organizations of any size and type.

On this page, you’ll find free PDF templates for a simple business plan , small business plan , startup business plan , and more.

Simple Business Plan PDF Templates

These simple business plan PDF templates are ready to use and customizable to fit the needs of any organization.

Simple Business Plan Template PDF

This template contains a traditional business plan layout to help you map out each aspect, from a company overview to sales projections and a marketing strategy. This template includes a table of contents, as well as space for financing details that startups looking for funding may need to provide. 

Download Simple Business Plan Template - PDF

Lean Business Plan Template PDF

This scannable business plan template allows you to easily identify the most important elements of your plan. Use this template to outline key details pertaining to your business and industry, product or service offerings, target customer segments (and channels to reach them), and to identify sources of revenue. There is also space to include key performance metrics and a timeline of activities. 

Download Lean Business Plan Template - PDF

Simple 30-60-90 Day Business Plan Template PDF

This template is designed to help you develop and implement a 90-day business plan by breaking it down into manageable chunks of time. Use the space provided to detail your main goals and deliverables for each timeframe, and then add the steps necessary to achieve your objectives. Assign task ownership and enter deadlines to ensure your plan stays on track every step of the way.

Download Simple 30-60-90 Day Business Plan Template

PDF | Smartsheet

One-Page Business Plan PDF Templates

The following single page business plan templates are designed to help you download your key ideas on paper, and can be used to create a pitch document to gain buy-in from partners, investors, and stakeholders.

One-Page Business Plan Template PDF

Use this one-page template to summarize each aspect of your business concept in a clear and concise manner. Define the who, what, why, and how of your idea, and use the space at the bottom to create a SWOT analysis (strengths, weaknesses, opportunities, and threats) for your business. 

Download One-Page Business Plan Template

If you’re looking for a specific type of analysis, check out our collection of SWOT templates .

One-Page Lean Business Plan PDF

This one-page business plan template employs the Lean management concept, and encourages you to focus on the key assumptions of your business idea. A Lean plan is not stagnant, so update it as goals and objectives change — the visual timeline at the bottom is ideal for detailing milestones. 

Download One-Page Lean Business Plan Template - PDF

One-Page 30-60-90 Day Business Plan Template

Use this business plan template to identify main goals and outline the necessary activities to achieve those goals in 30, 60, and 90-day increments. Easily customize this template to fit your needs while you track the status of each task and goal to keep your business plan on target. 

Download One-Page 30-60-90 Day Business Plan Template

For additional single page plans, including an example of a one-page business plan , visit " One-Page Business Plan Templates with a Quick How-To Guide ."

Small Business Plan PDF Templates

These business plan templates are useful for small businesses that want to map out a way to meet organizational objectives, including how to structure, operate, and expand their business.

Simple Small Business Plan Template PDF

A small business can use this template to outline each critical component of a business plan. There is space to provide details about product or service offerings, target audience, customer reach strategy, competitive advantage, and more. Plus, there is space at the bottom of the document to include a SWOT analysis. Once complete, you can use the template as a basis to build out a more elaborate plan. 

Download Simple Small Business Plan Template

Fill-In-the-Blank Small Business Plan Template PDF

This fill-in-the-blank template walks you through each section of a business plan. Build upon the fill-in-the-blank content provided in each section to add information about your company, business idea, market analysis, implementation plan, timeline of milestones, and much more.

Download Fill-In-the-Blank Small Business Plan Template - PDF

One-Page Small Business Plan Template PDF

Use this one-page template to create a scannable business plan that highlights the most essential parts of your organization’s strategy. Provide your business overview and management team details at the top, and then outline the target market, market size, competitive offerings, key objectives and success metrics, financial plan, and more.

Download One-Page Business Plan for Small Business - PDF

Startup Business Plan PDF Templates

Startups can use these business plan templates to check the feasibility of their idea, and articulate their vision to potential investors.

Startup Business Plan Template

Use this business plan template to organize and prepare each essential component of your startup plan. Outline key details relevant to your concept and organization, including your mission and vision statement, product or services offered, pricing structure, marketing strategy, financial plan, and more.

‌Download Startup Business Plan Template

Sample 30-60-90 Day Business Plan for Startup

Startups can use this sample 30-60-90 day plan to establish main goals and deliverables spanning a 90-day period. Customize the sample goals, deliverables, and activities provided on this template according to the needs of your business. Then, assign task owners and set due dates to help ensure your 90-day plan stays on track.

‌Download Sample 30-60-90 Day Business Plan for Startup Template 

For additional resources to create your plan, visit “ Free Startup Business Plan Templates and Examples .”

Nonprofit Business Plan PDF Templates

Use these business plan PDF templates to outline your organization’s mission, your plan to make a positive impact in your community, and the steps you will take to achieve your nonprofit’s goals.

Nonprofit Business Plan Template PDF

Use this customizable PDF template to develop a plan that details your organization’s purpose, objectives, and strategy. This template features a table of contents, with room to include your nonprofit’s mission and vision, key team and board members, program offerings, a market and industry analysis, promotional plan, financial plan, and more. This template also contains a visual timeline to display historic and future milestones.

Download Nonprofit Business Plan Template - PDF

One-Page Business Plan for Nonprofit Organization PDF 

This one-page plan serves as a good starting point for established and startup nonprofit organizations to jot down their fundamental goals and objectives. This template contains all the essential aspects of a business plan in a concise and scannable format, including the organizational overview, purpose, promotional plan, key objectives and success metrics, fundraising goals, and more.

Download One-Page Business Plan for Nonprofit Organization Template - PDF

Fill-In-the-Blank Business Plan PDF Templates

Use these fill-in-the-blank templates as a foundation for creating a comprehensive roadmap that aligns your business strategy with your marketing, sales, and financial goals.

Simple Fill-In-the-Blank Business Plan PDF

The fill-in-the-blank template contains all the vital parts of a business plan, with sample content that you can customize to fit your needs. There is room to include an executive summary, business description, market analysis, marketing plan, operations plan, financial statements, and more. 

Download Simple Fill-In-the-Blank Business Plan Template - PDF

Lean Fill-In-the-Blank Business Plan PDF

This business plan is designed with a Lean approach that encourages you to clarify and communicate your business idea in a clear and concise manner. This single page fill-in-the-blank template includes space to provide details about your management team, the problem you're solving, the solution, target customers, cost structure, and revenue streams. Use the timeline at the bottom to produce a visual illustration of key milestones. 

Download Fill-In-the-Blank Lean Business Plan Template - PDF

For additional resources, take a look at " Free Fill-In-the-Blank Business Plan Templates ."

Sample Business Plan PDF Templates

These sample business plan PDF templates can help you to develop an organized, thorough, and professional business plan.

Business Plan Sample 

This business plan example demonstrates a plan for a fictional food truck company. The sample includes all of the elements in a traditional business plan, which makes it a useful starting point for developing a plan specific to your business needs.

Download Basic Business Plan Sample - PDF

Sample Business Plan Outline Template

Use this sample outline as a starting point for your business plan. Shorten or expand the outline depending on your organization’s needs, and use it to develop a table of contents for your finalized plan.

Download Sample Business Plan Outline Template - PDF

Sample Business Financial Plan Template

Use this sample template to develop the financial portion of your business plan. The template provides space to include a financial overview, key assumptions, financial indicators, and business ratios. Complete the break-even analysis and add your financial statements to help prove the viability of your organization’s business plan.

Download Business Financial Plan Template

PDF  | Smartsheet

For more free, downloadable templates for all aspects of your business, check out “ Free Business Templates for Organizations of All Sizes .”

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Electrical Contractor Business Plan Template

Document description.

This electrical contractor business plan template has 38 pages and is a MS Word file type listed under our business plan kit documents.

Sample of our electrical contractor business plan template:

Contact Information INSERT ADDRESS Phone: Email: 2010 INSERT IMAGE/LOGO Owners: INSERT NAME

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3,000+ templates & tools to help you start, run & grow your business, all the templates you need to plan, start, organize, manage, finance & grow your business, in one place., templates and tools to manage every aspect of your business., 8 business management modules, in 1 place., document types included.

Imagine a symphony orchestra where each musician plays their own tune without listening to others. The result would be chaotic and dissonant, right? Similarly, in the business world, when decision-making happens in silos and planning processes are disconnected, it’s like having a group of individuals playing their own instruments without any coordination. The harmony is lost, and the organization becomes inefficient, misses opportunities, and struggles to keep up with the fast-paced market.

Integrated Business Planning (IBP) addresses these challenges by providing a comprehensive framework that integrates strategic, operational and financial planning, analysis, and reporting to drive better business outcomes.   A retail company experiences a sudden surge in online sales due to a viral social media campaign. Integrated planning incorporates supply chain planning, demand planning, and demand forecasts so the company can quickly assess the impact on inventory levels, supply chain logistics, production plans, and customer service capacity. By having real-time data at their fingertips, decision-makers can adjust their strategies, allocate resources accordingly, and capitalize on the unexpected spike in demand, ensuring customer satisfaction while maximizing revenue.   This blog explores the significance of IBP in today’s modern business landscape and highlights its key benefits and implementation considerations.

Integrated Business Planning (IBP) is a holistic approach that integrates strategic planning, operational planning, and financial planning within an organization. IBP brings together various functions, including sales, marketing, finance, supply chain, human resources, IT and beyond to collaborate across business units and make informed decisions that drive overall business success. The term ‘IBP’ was introduced by the management consulting firm Oliver Wight to describe an evolved version of the sales and operations planning (S&OP process) they originally developed in the early 1980s.

1. Strategic planning

Integrated Business Planning starts with strategic planning. The management team defines the organization’s long-term goals and objectives. This includes analyzing market trends, competitive forces, and customer demands to identify opportunities and threats. Strategic planning sets the direction for the entire organization and establishes the foundation for subsequent planning roadmap.

2. Operational planning

Operational planning focuses on translating strategic goals into actionable plans at the operational level. This involves breaking down the strategic objectives into specific targets and initiatives that different departments and functions need to execute.

For example, the sales department might develop a plan to enter new markets or launch new products, while the supply chain department focuses on inventory optimization and ensuring efficient logistics. The key is to align operational plans with the broader strategic objectives to ensure consistency and coherence throughout the organization.

3. Financial planning

Financial planning ensures that the organization’s strategic and operational plans are financially viable. It involves developing detailed financial projections, including revenue forecasts, expense budgets, and cash flow forecasts. By integrating financial planning with strategic and operational planning, organizations can evaluate financial profitability, identify potential gaps or risks, and make necessary adjustments to achieve financial targets.

 4. Cross-functional collaboration

A fundamental aspect of IBP is the collaboration and involvement of various functions and departments within the organization. Rather than working in isolation, departments such as sales, marketing, finance, supply chain, human resources, and IT come together to share information, align objectives, and make coordinated decisions.

5. Data integration and analytics

IBP relies on the integration of data from different sources and systems. This may involve consolidating data from enterprise resource planning (ERP) systems, customer relationship management (CRM) systems, supply chain management systems, and other relevant sources. Advanced analytics and business intelligence tools are utilized to analyze and interpret the data, uncovering insights and trends that drive informed decision-making.

6. Continuous monitoring and performance management

The Integrated Business Planning process requires continuous monitoring of performance against plans and targets. Key performance indicators (KPIs) are established to measure progress and enable proactive management. Regular performance reviews and reporting enable organizations to identify deviations, take corrective actions, and continuously improve their planning processes.

By integrating strategic, operational, and financial planning organizations can unlock the full potential of IBP and drive business success and achieve their goals.

Enhanced decision-making

IBP facilitates data-driven decision-making by providing real-time insights into various aspects of the business. By bringing together data from various departments, organizations can develop a holistic view of their operations, enabling them to make better-informed decisions.

Improved alignment

By aligning strategic objectives with operational plans and financial goals, IBP ensures that every department and employee is working towards a common vision. This alignment fosters synergy and drives cross-functional collaboration.

Agility and responsiveness

In the rapidly changing business landscape, agility is crucial. IBP allows organizations to quickly adapt to market shifts, demand fluctuations, and emerging opportunities. By continuously monitoring and adjusting plans, businesses can remain responsive and seize competitive advantages.

Optimal resource allocation

Integrated Business Planning enables organizations to optimize resource allocation across different functions. It helps identify bottlenecks, allocate resources effectively, and prioritize initiatives that yield the highest returns, leading to improved efficiency and cost savings.

Risk management

IBP facilitates proactive risk management by considering various scenarios and identifying potential risks and opportunities. By analyzing data and conducting what-if analyses, companies can develop contingency plans and mitigate risks before they materialize.

Implementing an effective IBP process requires careful planning and execution that may require substantial effort and a change of management, but the rewards are well worth it. Here are some essential strategic steps to consider:

1. Executive sponsorship

Establish leadership buy-in; gain support from top-level executives who understand the value of Integrated Business Planning and can drive the necessary organizational changes. Leadership commitment, led by CFO, is crucial for successful implementation.

2. Continuous improvement

Continuously monitor and adjust; implement mechanisms to monitor performance against plans and targets. Regularly review key performance indicators (KPIs), conduct performance analysis, and generate timely reports and dashboards. Identify deviations, take corrective actions, and continuously improve the planning processes based on feedback and insights.

3. Integration of people and technology

To foster cross-functional collaboration, the organization must identify key stakeholders, break down silos, and encourage open communication among departments. Creating a collaborative culture that values information sharing and collective decision-making is essential.

Simultaneously, implementing a robust data integration system, encompassing ERP, CRM, and supply chain management systems, ensures seamless data flow and real-time updates. User-friendly interfaces, data governance, and training provide the necessary technological support. Combining these efforts cultivates an environment of collaboration and data-driven decision-making, boosting operational efficiency and competitiveness.

4. Technology

Implement advanced analytics and business intelligence solutions to streamline and automate the planning process and assist decision-making capabilities. These solutions provide comprehensive functionality, data integration capabilities, scenario planning and modeling, and real-time reporting.

From a tech perspective, organizations need advanced software solutions and systems that facilitate seamless data integration and collaboration to support IBP. Here are some key components that contribute to the success of integrated business planning:

1. Corporate performance management

A platform that serves as the backbone of integrated business planning by integrating data from different departments and functions. It enables a centralized repository of information and provides real-time visibility into the entire business.

2. Business intelligence (BI) tools

Business intelligence tools play a vital role in analyzing and visualizing integrated data from multiple sources. These tools provide comprehensive insights into key metrics and help identify trends, patterns, and opportunities. By leveraging BI tools, decision-makers can quickly evaluate financial performance, make data-driven business decisions and increase forecast accuracy.

3. Collaborative planning and forecasting solutions

Collaborative planning and forecasting solutions enable cross-functional teams to work together in creating and refining plans. These planning solutions facilitate real-time collaboration, allowing stakeholders to contribute their expertise and insights. With end-to-end visibility, organizations can ensure that plans are comprehensive, accurate, and aligned with business strategy.

4. Data integration and automation

To ensure seamless data integration, organizations need to invest in data integration and automation tools. These tools enable the extraction, transformation, and loading (ETL) of data from various sources. Automation streamlines data processes reduces manual effort and minimizes the risk of errors or data discrepancies.

5. Cloud-based solutions

Cloud computing offers scalability, flexibility, and accessibility, making it an ideal choice for integrated business planning. Cloud-based solutions provide a centralized platform where teams can access data, collaborate, and make real-time updates from anywhere, at any time. The cloud also offers data security, disaster recovery, and cost efficiencies compared to on-premises infrastructure.

6. Data governance and security

As organizations integrate data from multiple sources, maintaining data governance and security becomes crucial. Establishing data governance policies and ensuring compliance with data protection regulations are vital steps in maintaining data integrity and safeguarding sensitive information. Implementing robust data security measures, such as encryption and access controls, helps protect against data breaches and unauthorized access.

IBM Planning Analytics  is a highly scalable and flexible solution for Integrated Business Planning. It supports and strengthens the five pillars discussed above, empowering organizations to achieve their strategic goals and make better data-driven decisions. With its AI- infused advanced analytics and modeling capabilities, IBM Planning Analytics allows organizations to integrate strategic, operational, and financial planning seamlessly. The solution enables cross-functional collaboration by providing a centralized platform where teams from various departments can collaborate, share insights, and align their plans. IBM Planning Analytics also offers powerful data integration capabilities, allowing organizations to consolidate data from multiple sources and systems, providing a holistic view of the business. The solutions’s robust embedded AI predictive analytics uses internal and external data and machine learning to provide accurate demand forecasts. IBM Planning Analytics supports continuous monitoring and performance management by providing real-time reporting, dashboards, and key performance indicators (KPIs) that enable organizations to track progress and take proactive actions.  As the business landscape continues to evolve, embracing Integrated Business Planning is no longer an option but a necessity for organizations. To succeed in this dynamic environment, businesses need an integrated approach to planning that brings all the departments and data together, creating a symphony of collaboration and coordination.

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EV maker Fisker to be liquidated under plan to keep owners on the road

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Troubled electric vehicle maker Fisker Inc. has reached a settlement with creditors that will allow it to liquidate its assets while working with owners to keep their pricey SUVs on the road.

The company filed for Chapter 11 bankruptcy protection in June after failing to reach a strategic agreement with another automaker that could provide it with more capital and domestic manufacturing capacity.

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The global agreement reached Friday in U.S. Bankruptcy Court in Delaware allows Fisker management to remain in charge for some time as the operation winds down.

That was important to Fisker, the National Highway Traffic Safety Administration and car owners, who filed objections to converting the bankruptcy to Chapter 7, noting the startup’s only vehicle — a premium SUV called the Ocean — has several open recalls for faulty door handles, loss of power and other problems.

“The owners strongly believe that Fisker owes them a responsibility to ensure that their vehicles are safe and operable, and that the best way for Fisker to fulfill that promise is through a Chapter 11 process,” said attorney Daniel Shamah, who represents the Fisker Owners Assn. “We can be sure that employees and the advisors who are helping the company do this remain on board.”

The liquidation plan, which details how proceeds from asset sales will be distributed among various creditors, is subject to a vote by all unsecured creditors.

The plan also calls for the owners association to have a voice in the sale of Fisker’s intellectual property, which includes the designs and computer code that were necessary to build and operate the vehicles. The owners need long-term access to Fisker’s “cloud software,” which is crucial for sending over-the-air updates to the vehicle software that controls the Ocean.

Other issues, including access to parts and long-term service, are still being negotiated outside the bankruptcy process, Shamah said.

However, with secured and unsecured claims against the company likely to top $1 billion, shareholders who invested in Fisker are unlikely to get their money back.

“It’s a virtual certainty that there will be no money for equity. There’s no way you’re going to have enough to pay claims in full in this liquidation,” said David Golubchik, a veteran bankruptcy attorney at Levene, Neale, Bender, Yoo & Golubchik in Los Angeles.

Founded in 2016 by auto designer Henrik Fisker, the company went public in 2020 via a SPAC, or special purpose acquisition company, backed by private equity firm Apollo Global Management. The company raised $1 billion in equity capital and borrowed even more, but ran out of money and only sold about 7,000 of its vehicles.

The Ocean was envisioned as a competitor to Tesla’s Model Y, but Fisker had trouble making and delivering the snazzy SUV through a direct sales model borrowed from Tesla. The SUV also was plagued by software glitches, though its ride and build were praised.

Fisker made more than 11,000 Oceans before it stopped production, according to a court filing. The bankruptcy court already has approved the sale of the company’s remaining inventory of 3,321 Oceans, which were acquired for $46.25 million by American Lease , a Bronx, N.Y., business that leases Uber and Lyft cars.

Fisker, which was based in Manhattan Beach before shutting down its headquarters and moving to Orange County, has few other hard assets.

Henrik Fisker, the chairman and chief executive, built the company to be asset light, with vehicles assembled at an Austrian factory owned by a subsidiary of Magna International, a Canadian manufacturer of automobile components.

Fisker’s most valuable asset might be its intellectual property, but it’s unclear what bids it may attract.

The settlement came after discussions among Fisker and its secured and unsecured creditors following a dispute over whether to convert the case to a Chapter 7 liquidation run by a trustee.

The conversion was sought by the company’s largest secured creditor: CVI Investments and its investment manager, Heights Capital Management Inc., both affiliates of Susquehanna International Group, a large Pennsylvania trading firm founded by billionaire Jeff Yass.

CVI argued the administrative costs of operating under Chapter 11 were draining and that were was little likelihood the company would remain in business.

However, its status as a legitimate secured creditor was questioned by the Committee of Unsecured Creditors, including U.S. Bank, which has filed a $681-million claim related to Fisker notes it holds.

Last year, Fisker sold convertible notes to CVI, receiving gross proceeds of $450 million, according to a court filing by the unsecured creditors. Fisker filed its third-quarter earnings report late, technically defaulting on the notes and converting them into secured debt.

The committee alleged that CVI profited an estimated $57 million from the sales of its converted shares, diluting the stock and driving its price under 10 cents a share this year.

Shareholders, in letters to the court, have called for the Securities and Exchange Commission to look into CVI’s and Height’s roles in the bankruptcy, including potential short selling that may have driven Fisker’s shares to pennies. Attorneys for CVI and Heights did not return messages seeking comment.

Fisker has received a subpoena from the SEC, The Times reported last week. It is unclear what information the agency is seeking.

The company is facing multiple shareholder lawsuits that focus on Fisker’s late third-quarter filing and the role it played in the collapse of the stock price. In 2021, the company’s market cap approached $8 billion before shares traded at pennies prior to the bankruptcy filing.

The lawsuits included allegations that Fisker, his wife Geeta Gupta-Fisker (the company’s co-founder, chief financial officer and chief operating officer) violated their fiduciary duties and securities laws. The company declined to comment.

Fisker’s stake in the company is now virtually worthless, but he sold about $20 million worth of shares in 2021 well before the stock declined. Fisker and his wife also received bonuses in December of a little more than $1 million each, which were disclosed last week in a bankruptcy court filing by Fisker. The company declined to comment on the reason for the bonuses.

Evan Scott, 39, who owns a Fisker Ocean and figures he lost about $50,000 on the company’s stock, said he was shocked to learn about the bonuses.

“As a shareholder and a car owner who had supported Henrik and his wife, I am seeing red,” Scott said. “They knew the company was in dire straits. They were just expediting bankruptcy by doing that.”

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At the Democratic Convention, a Historic Nomination

What story did the democrats tell about kamala harris and will it be enough to win.

This transcript was created using speech recognition software. While it has been reviewed by human transcribers, it may contain errors. Please review the episode audio before quoting from this transcript and email [email protected] with any questions.

[BACKGROUND CHATTER]

I’m standing in a sea of people coming out of this vast convention. And people are holding signs, smiling. There’s confetti everywhere. There are balloons, white, red, and blue. And there’s a lot of excitement.

From “The New York Times,” I’m Sabrina Tavernise. And this is “The Daily” from inside the Democratic National Convention Hall, where Kamala Harris has just accepted her party’s nomination, becoming the first woman of color in US history to do so.

Today, the story this convention told about Harris and whether that story could be enough to win.

It’s Friday, August 23.

[SERENE MUSIC]

The work and prayers of centuries have brought us to this day. What shall our our legacy be? What will our children say? Let me in my heart, when my days are through, America, America, I gave my best to you.

On night one of the Democratic National Convention, the evening was really defined by this very emotional, quite bittersweet goodbye from President Biden.

And there’s nothing we cannot do when we do it together.

God bless you all. And may God protect our troops.

It was the closing of one chapter so that another could begin. It was Kamala Harris’s moment.

[UPBEAT JAZZ MUSIC]

So right now, it’s 7:40. We are on the floor at the Democratic National Convention. It is a crazy party atmosphere, which is like a massive understatement.

Day two kicked off with delegates gathering on the convention floor, casting their votes in a kind of symbolic way to make Harris the party’s nominee.

This giant festival of lights, people in cowboy hats, people with blinking bracelets, people with Christmas lights wrapped around their hats, heads, shoulders, people wearing donkey hats. I mean, it’s very, very, very celebratory in here.

We need to see that we’re moving on. We are turning a chapter in America.

How do you feel right now?

Awesome, excitement, energized. Ready to win this election.

I love it. I love it. People are just excited, electrified, and they’re just loving it, and they’re happy.

This has been the most electrifying event I’ve ever attended in my life. It’s my first convention. But what a convention to come for, right? To make history right now, as we charge forward to November 5, to elect the first female Black president. I’m excited.

So with Harris now the nominee, a new campaign slogan appeared everywhere. And that was, “A new way forward.” But in a campaign that’s just four weeks old, it was really an open question what “a new way forward” actually meant.

We’re not going back!

We’re not going back! We’re not going back!

And then over the course of the week, as speaker after speaker took the stage, we started to get an answer. The story of forward would be told through the story of Kamala Harris herself. And the question hanging over the week was really whether that story could appeal to a broad majority of Americans, voters outside of the convention hall who will ultimately decide the election.

[UPBEAT MUSIC]

Astead, welcome to the show.

Thank you for having me.

Again. The second time in a week. And I’m very excited for it.

So Astead, we had on the show on Monday to answer a question for us, that I think a lot of people have, which is, who is Kamala Harris? And you ended that conversation by saying that the Democratic Party also recognizes this reality, that for a lot of people, she is still this unknown quantity.

And that the party had a big task here at the convention this week, which was to find a way to finally tell her story. It does seem like they’ve tried to do that. Let’s walk through the case that they’re making for her. And what you’ve seen here in your reporting for your show, “The Run-Up.”

Yeah, I mean, I think that the Democrats have definitely laid out a case for her as a candidate, but also a story for her as a person. They have leaned into the different parts of her biography to really follow through on what, I think, is the best version of her campaign, which is a little bit for everybody. There is a story there about more moderate legislation, but pieces of progressive history. There’s different parts of her bio that speak to Black communities, immigrant communities.

Of course, the historic nature of her gender and the roles like that. And I really think it has followed through on what I expected for this week, which is that she seems to function politically as a mirror of some sort, where the party wants to position her as someone who basically, no matter what you’re looking for in terms of a vessel to beat Donald Trump, you can find it in this candidate.

Let’s dig into that more. Where did the convention start, that story?

Hello, Democrats!

Yeah, I think it really starts in her personal biography.

And I’m here tonight to tell you all about the Kamala Harris that I know.

They have told a story that she often tells about her being a first generation American.

Her mother moved here from India at 19.

And being a daughter of an immigrant mother who really raised two daughters in the Bay Area from working class roots. And that’s been a real thing that they’ve tried to own.

Kamala was not born into privilege. She had to work for what she’s got.

When she was young, she worked at McDonald’s.

They talk about her working at McDonald’s in college.

And she greeted every person without thousand watt smile and said, how can I help you?

I think it’s overall about trying to present this as someone who pulled himself up by bootstraps. It represents the American dream. And I think for Democrats, it really returns them back to the place they want to be. Democrats like thinking of themselves as a party who appeals to the diversity of America, both in racial ways, in gender ways, but also in class ways.

In Kamala Harris, we have a chance to elect a president who is for the middle class because she is from the middle class.

And I think they used other parts of her identity, specifically thinking about being the first Black woman to accept a major party’s nomination.

We know folks are going to do everything they can to distort her truth.

And I think Michelle Obama’s speech, specifically, spoke to the power and anxiety that sometimes that identity can bring.

My husband and I sadly know a little something about this.

For years, Donald Trump did everything in his power to try to make people fear us. See, his limited, narrow view of the world made him feel threatened by the existence of two hard-working, highly educated, successful people who happen to be Black.

And I would also say that it was an implicit response to what Republicans and others have been trying to say, talking about Kamala Harris as a DEI hire, someone who was only in their position because of their identity. But the way that Michelle Obama framed it was that those identities have power.

I want to know. I want to know. Who’s going to tell him, who’s going to tell him that the job he’s currently seeking might just be one of those Black jobs?

Just because someone the first to be in a position, does not mean that is the only reason in the position. But it also doesn’t make those identities meaningless. The fact that she is a Black woman should be seen as a strength, not as a weakness.

Is there a risk to that, though? I mean, by openly talking about race, is there a risk that goes too far and begins to alienate voters outside the convention out in the world who they need to win in November.

I mean, there’s always a risk. But I don’t really think so. Democrats have had increasing trouble with Black voters. There’s been a downturn in Black vote share all the way dating back to 2012.

In Biden’s now suspended candidacy, that was one of the things driving his polling weaknesses was kind of tepid reception from Black voters. A pitch to them is something that is a upside of the Kamala Harris campaign. And the hope that they could consolidate that community is where any Democratic nominee needs to be as a baseline.

We both got our start as young lawyers, helping children who were abused and neglected.

One thing I noticed that came up a lot during the speeches was her background as a prosecutor. How did the party present that part of her biography?

As a prosecutor, Kamala stood up for children who had been victims of sexual abuse.

She put rapists, child molesters, and murderers behind bars.

They talk about it in the way that I think fuels what they want to say is the reason she can take on Trump, that this is someone who has stood up to bullies before, who’s not going to be intimidated easily —

And Kamala is as tough as it comes.

— who’s tough, and who doesn’t shirk away from a challenge.

And she knows the best way to deal with a coward is to take him head on, because we all know cowards are weak. And Kamala Harris can smell weakness.

I think all of that adds up to say, you can trust this person to go up against Donald Trump. You can trust this person to go up against the Republican Party, because she’s not someone who is scared.

She never runs from a fight.

A woman, a fierce woman for the people.

But then, of course, we heard about another side of Kamala Harris, a more personal side.

Yeah, and I think this is the part of Kamala Harris where I think was kind of most missing in the presidential run. Frankly, it’s the part that she keeps most private. She is a warm family member and friend.

Hello to my big, beautiful blended family up there.

And I think what the speech from her husband did was really show and lay that out.

I got married, became a dad to Cole and Ella. Unfortunately, went through a divorce, but eventually started worrying about how I would make it all work. And that’s when something unexpected happened, I ended up with Kamala Harris’s phone number.

He talks about the kind of awkwardness of their first interaction.

I got Kamala’s voicemail, and I just started rambling. “Hey, it’s Doug.”

And I think you have a real kind of sense of their genuine connection to one another.

By the way, Kamala saved that voicemail. And she makes me listen to it on every anniversary.

Like, yes, this is someone who is tough, who is taking on corporations and cartels and all of that stuff by day. But this is someone who also makes a point to cook Sunday dinner for family every week.

And she makes a mean brisket for Passover.

And makes sure to really go close to his kids and is very close with her family.

That’s Kamala. She’s always been there for our children. And I know she’ll always be there for yours, too.

Going back to the last time the Democratic Party nominated a woman, Hillary Clinton, she had presented herself in a very different way. She kind of ran away from that stuff. She was saying, I don’t bake cookies, that’s not what I do. I’m kind of out there with the men, fighting.

And this convention and this candidate, Harris, is very different. She’s a newer generation. And she can do her career and bake cookies. Those things are not in conflict. This is a different type of woman leader.

This week we talked to Senator Elizabeth Warren on “The Run-Up,” and one of the things that she mentioned was she feels that there’s been a big change from 2016, even 2020 to now. Not just the amount of women in public office, but she said they don’t have to choose between sides of themselves. And I think that’s what diversity means.

Of course, Kamala Harris can be a tough politician and also bake cookies. Hillary Clinton did that, too. It was just that she was told that was not the way that she had to present herself. What Kamala Harris is benefiting from is there’s a greater space and ability to choose multiple things at once. And so particularly if others are going to talk more directly about gender or race or other things, that kind of frees her from having the burden of doing that herself.

And in fact, Hillary Clinton, herself, did speak, of course, on day one. She talked about that glass ceiling in the history that has led to now, including her own experience in 2016.

Yeah, I thought the Hillary Clinton speech was really powerful. I think a lot of the speakers put this moment in historical context, both politically and personally.

My mother, Dorothy, was born right here in Chicago before women had the right to vote. That changed 104 years ago yesterday. And since that day, every generation has carried the torch forward. In 1972, a fearless Black congresswoman named Shirley Chisholm —

— she ran for president. In 1984, I brought my daughter to see Geraldine Ferraro, the first woman nominated for vice president. And then there was 2016, when it was the honor of my life to accept our party’s nomination for president.

The last time I was here in my hometown was to memorialize my mother, the woman who showed me the power of my own voice. My mother volunteered at the local school.

I’m the proud granddaughter of a housekeeper, Sarah Daisy, who raised her three children in a one-bedroom apartment. It was her dream to work in government, to help people.

My grandmother, the woman who helped raise me as a child, a little old white lady born in a tiny town called Peru, Kansas.

I want to talk now about somebody who’s not with us tonight. Tessie Prevost Williams was born in New Orleans not long after the Supreme Court ruled that segregated public schools were unconstitutional. That was in 1954, same year I was born. Parents pulled their kids out of the school.

There was a way that I think the candidacy and the person was placed in a long legacy, both about gender identity and racial identity that kind of teed up this Thursday as a culminating moment, both politically and I think, in a broader historical context.

Together, we put a lot of cracks in the highest, hardest glass ceiling. And you know what? On the other side of that glass ceiling is Kamala Harris raising her hand and taking the oath of office as our 47th president of the United States!

I wish my mother and Kamala’s mother could see us. They would say, keep going. Shirley and Jerry would say, keep going!

I think you can do a lot to set up a candidate to be in a good position. All of this stuff adds up to some part of the puzzle, but the biggest piece is the candidate themself. At the end of the day, they have to close the deal. And I think this moment is her chance to tell her own story in a way that sometimes she has not decided to. And that’s still what this whole convention success and failure will ride on.

We’re going to watch tonight. We’re going to watch with our colleague, Reid Epstein. And you are going to have a great episode of “The Run-Up” on Friday. We will all be tuning in.

Thank you. I appreciate you doing this, Sabrina.

Really thanks a lot, Astead.

Are you a delegate?

Sorry, we caught you mid French fry eating. What’s your feeling about Kamala and what her story has been? Are you getting to know her this week? Are there things you’ve learned about her this week?

Yeah, I’m learning more and more as we go along. The more and more I learn about her, the more I’m impressed with her. I mean, she worked at McDonald’s when she was going to college to try to pay her way through.

Her very small beginnings. Not a trust fund baby type of thing. I relate to that. Like, I was on food stamps this year. So it’s like if she can do it with that background, it gives everybody hope.

Hillary was my girl. When Hillary ran, I championed her as well. But I didn’t feel this way as I feel about Harris. I’m like, do I want to run for office? If she can do it, I can. She looks just like me, right? She represents, she works at McDonald’s. She paid for every. It’s relatable. And that’s what everybody needs.

We’re going to break that glass ceiling. I’m getting teary, teary in my eyes. And it just means so much to be inclusive.

[WHIMSICAL MUSIC]

What does it mean to you that Kamala Harris is a woman? What does it mean to you that she’s a Black woman?

To have a Black woman become the president of the United States, and for her to turn the world upside down in 30 days, to know that I’m in the midst of this miraculous history is phenomenal.

One delegate who really stood out to us was Beverly Hatcher, a 76-year-old Black woman from Texas.

I was raised by a wonderful Baptist mama. I just lost her. But I am who I am because of my mother. We were always pushed to do whatever we wanted to do. I’ll never forget. I wanted to be a majorette. I taught myself, because we had no money for, what is it called, lessons

And a majorette is like the baton twirler, right?

Yes. And when I did finally try out in my 11th grade, I won right off. And my classmates, who were predominantly white, as years have gone by, have told me at class reunions and stuff, Beverly, the sleepy town of Wellington woke up.

Oh, my god, we got a Black girl getting ready to be the head majorette. But it happened because I had the drive and the will. My mother and my family stood behind me, and didn’t miss a parade, or a football game, or a basketball game.

And you see that in Harris?

Beverly, what would your mom say if she saw this?

My sisters have been telling me every day how proud my mom is. And I’m just happy. I’m happy to make her happy. Yeah.

We women, who have had mothers like Kamala, like Michelle, I remember Hillary’s mother, we women value their strength and their wisdom. And we’re just glad that they gave us a legacy to pass it on.

Thank you very much.

We’ll be right back.

Reid, hello.

OK. Kamala Harris just wrapped up her acceptance speech. Before we talk about what she said and the case she presented, tell us how her campaign was thinking about the stakes of this moment.

Sabrina, this evening was one of two opportunities, along with the debate next month, for her to speak to tens of millions of people at once. And so for that, the stakes were really high.

Her goal was to present herself as a serious person and a serious candidate, who was not the candidate who flamed out in 2019 or the unsteady vice president from the beginning of her term. She had to show that she had the gravitas to be the commander in chief, the political aptitude to reach out to the middle, and also to progressives in her party all at the same time.

A very tall order. Tell us how she went about doing that.

Good evening, everyone. Good evening.

Well, she started talking around 9:30 Chicago time to a packed United Center with 14,000 or 15,000 people, many, many wearing all white, the color of the suffragettes, a color that makes a statement just by wearing it. And when Harris took the stage —

— they erupted in a cheer that forced her for a couple of minutes to wait before she could start talking.

Thank you. OK, let’s get to business. Let’s get to business. All right.

And what did she finally say once she started talking?

She told the story of her life.

The path that led me here in recent weeks was, no doubt, unexpected. But I’m no stranger to unlikely journeys.

My mother, our mother, Shyamala Harris, had one of her own. And I miss her every day, and especially right now.

She talked about the influence of her mother, who raised her and her sister.

And she also taught us, “And never do anything half-assed.” And that is a direct quote. [LAUGHS]

She spoke about her family’s humble beginnings in Oakland.

Before she could finally afford to buy a home, she rented a small apartment in the East Bay.

Then she started talking about her career as a prosecutor.

In the courtroom, I stood proudly before a judge and I said five words.

She brought back one of the lines that she used in her 2020 campaign about how when she stood up in a courtroom, she began with the same words.

Kamala Harris for the people.

And she said she would bring that same philosophy to the White House, that she was not working for specific individuals, but for the people at large.

And so on behalf of the people —

Eventually she did a bigger wind up to formally accepting the nomination.

— on behalf of every American, regardless of party, race, gender, or the language your grandmother speaks —

And listed the people on whose behalf she did so.

— on behalf of everyone whose story could only be written in the greatest nation on Earth —

It was really a kind of a feat of speech writing to build up to this big emotional moment.

— I accept your nomination to be president of the United States of America.

And what did you make of that, how she was doing that?

It was building up this speech to be a serious political document and present her as a serious figure in this moment. And so she still has to prove to people that she is capable of being the commander in chief and running the country.

And how does she try to prove that she’s capable of being a commander in chief?

What she did was try to draw the distinction between herself and Donald Trump.

In many ways, Donald Trump is an unserious man. But the consequences, but the consequences of putting Donald Trump back in the White House are extremely serious.

And she warns that Trump would not have guardrails on him if he were elected to a second term.

Just imagine Donald Trump with no guardrails.

And how he would use the immense powers of the presidency of the United States not to improve your life, not to strengthen our national security, but to serve the only client he has ever had, himself.

The speech was very clear-eyed about the stakes of the election.

They know Trump won’t hold autocrats accountable because he wants to be an autocrat himself.

There was a whole section in the middle of the speech where she ticked through, one by one, a whole series of warnings about things that Trump would do to the country if he were back in the White House.

Get this, he plans to create a national anti-abortion coordinator and force states to report on women’s miscarriages and abortions.

Simply put, they are out of their minds.

What else stuck out to you?

It was remarkable, the section of the speech where she talked about Gaza.

President Biden and I are working around the clock, because now is the time to get a hostage deal and a ceasefire deal done.

She did not veer too far to the left.

I will always stand up for Israel’s right to defend itself.

She managed to say things that would be appealing to both sides.

President Biden and I are working to end this war, such that Israel is secure, the hostages are released, the suffering in Gaza ends, and the Palestinian people can realize their right to dignity, security, freedom, and self-determination.

It was a remarkable moment to hear the arena erupt at the end of that section, to hear her support for both the Israelis and the Palestinians reveal that kind of enthusiasm, after the party has been really ripped apart for months about how to handle the situation.

Fellow Americans, I love our country with all my heart.

She ended this speech with a paean to patriotism.

We are the heirs to the greatest democracy in the history of the world.

She dove headlong into the American exceptionalism argument that is native to Republicans and to older generations of politicians, like Joe Biden.

It is now our turn to do what generations before us have done. Guided by optimism and faith to fight for this country we love. To fight —

But is not something you always hear from younger Democrats, who are a little less comfortable with some of the flag waving.

Let’s vote for it. And together, let us write the next great chapter in the most extraordinary story ever told. Thank you. God bless you and may God bless the United States of America. Thank you all.

She seemed to really be taking aim at this criticism of her, which is that she’s this radical California liberal and she can’t be trusted with the keys to the country.

I mean, that was one of the tasks that she had tonight, was to make the argument, particularly to voters in the middle, the suburban voters that used to vote for Republicans, but have been repelled by Trump and driven to Democrats in the last several years, that they can vote for her without worrying that she’s some kind of Bernie Sanders acolyte.

And some of that is based on the way she ran her last presidential campaign. Some of it, frankly, is because she’s a Black woman from California. And that the voters who will determine this election are voters in less diverse states, for the most part.

So Reid stepping back here, it feels worth remembering just where we were at the end of the Republican National Convention that was just over a month ago. Things couldn’t have felt more different. The GOP was on top of the world, while the Democrats were in disarray over Biden’s refusal to leave the race.

And now here we are. And it feels like things couldn’t be better for the Democrats. At least that’s the feeling I’m having coming out of this convention.

I mean, the whole race has turned upside down from where it was when we left Milwaukee. And Democrats are upbeat. They are confident. It is a party that is remarkably united behind their candidate.

But you have to remember, this election will be very close. It is, indeed, a game of inches in the key battleground states. And what she was trying to do was to present herself as someone who can be trusted as commander in chief to win over the tiny slices of the electorate that will determine the winner in places like Wisconsin, and Michigan, and Pennsylvania, Georgia, and Arizona.

And those are the states that will determine the election. And they have made a calculated decision that those voters needed to see her as a commander in chief, something they had not seen from her before. And we will see in the coming days and weeks whether she’s accomplished that in a way that brings enough of those people on board for her to win a term as president.

Reid, thank you.

Thank you, Sabrina. [WHIMSICAL MUSIC]

Here’s what else you should know today. On Thursday, the Supreme Court allowed Arizona Republicans, for now, to impose tougher voting requirements, including a new rule that people registering to vote there before the coming election must show proof of citizenship.

As a result, Arizonans newly registering to vote for this year’s presidential election must provide copies of one of several documents, such as a birth certificate or a passport, in order to prove that they are US citizens. Democrats have denounced the new rule as an attempt to prevent legal immigrants from voting.

And US Health officials have approved the latest slate of annual COVID vaccines, clearing the way for Americans six months and older to receive updated shots in the coming days. The approvals come amid a prolonged surge of COVID infections, which have risen all summer.

Remember to catch a new episode of “The Interview” right here tomorrow. This week, Lulu Garcia-Navarro talks with Jenna Ortega, the star of the Netflix series “Wednesday,” and the new “Bettlejuice” sequel, about her head-spinning success over the past few years.

One day I just I woke up in somebody else’s shoes. I felt like I had entered somebody else’s life. And I didn’t know how to get back to mine.

Today’s episode was produced by Lynsea Garrison, Rob Szypko, Jessica Cheung, Asthaa Chaturvedi, and Shannon Lin. It was edited by Rachel Quester, contains original music by Rowan Niemisto, Dan Powell, Diane Wong, and Marion Lozano, and was engineered by Chris Wood. Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly.

[THEME MUSIC]

That’s it for “The Daily.” I’m Sabrina Tavernise. See you on Monday.

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Hosted by Sabrina Tavernise

Featuring Astead W. Herndon and Reid J. Epstein

Produced by Lynsea Garrison Rob Szypko Jessica Cheung Asthaa Chaturvedi and Shannon Lin

Edited by Rachel Quester

Original music by Rowan Niemisto Marion Lozano Dan Powell and Diane Wong

Engineered by Chris Wood

Listen and follow ‘The Daily’ Apple Podcasts | Spotify | Amazon Music | YouTube | iHeartRadio

Last night, at the Democratic National Convention, Vice President Kamala Harris accepted her party’s nomination, becoming the first woman of color in U.S. history to do so.

Astead W. Herndon and Reid J. Epstein, who cover politics for The Times, discuss the story this convention told about Ms. Harris — and whether that story could be enough to win the presidential election.

On today’s episode

Astead W. Herndon , a national politics reporter and the host of the politics podcast “ The Run-Up ” for The New York Times.

Reid J. Epstein , who covers politics for The New York Times.

Background reading

Kamala Harris promised to chart a “new way forward” as she accepted the nomination.

“The Run-Up”: It’s her party now. What’s different?

There are a lot of ways to listen to The Daily. Here’s how.

We aim to make transcripts available the next workday after an episode’s publication. You can find them at the top of the page.

The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Sydney Harper, Michael Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Diana Nguyen, Marion Lozano, Corey Schreppel, Rob Szypko, Elisheba Ittoop, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky, Nina Feldman, Will Reid, Carlos Prieto, Ben Calhoun, Susan Lee, Lexie Diao, Mary Wilson, Alex Stern, Sophia Lanman, Shannon Lin, Diane Wong, Devon Taylor, Alyssa Moxley, Olivia Natt, Daniel Ramirez and Brendan Klinkenberg.

Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly. Special thanks to Sam Dolnick, Paula Szuchman, Lisa Tobin, Larissa Anderson, Julia Simon, Sofia Milan, Mahima Chablani, Elizabeth Davis-Moorer, Jeffrey Miranda, Maddy Masiello, Isabella Anderson, Nina Lassam and Nick Pitman.

Astead W. Herndon is a national politics reporter and the host of the politics podcast “The Run-Up.” More about Astead W. Herndon

Reid J. Epstein covers campaigns and elections from Washington. Before joining The Times in 2019, he worked at The Wall Street Journal, Politico, Newsday and The Milwaukee Journal Sentinel. More about Reid J. Epstein

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