electrical shop business plan pdf download

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 Shop Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Wholesale & Retail

Are you about starting an electrical shop? If YES, here is a detailed sample electrical shop business plan template & FREE feasibility report.

Businesses that are worth going for are businesses that you are certain people would need your services or products regularly. An electrical shop falls into this category. Part of what you need to do to make headway in this line of business is to ensure that your store is intentionally positioned and you a have good business relationship with construction contractors and key players in the real estate industry.

One good thing about this type of business is that you don’t need to enroll in a conventional school to learn how to start and run this type of business; you just require basic business skills such as knowledge of electric equipment, customer service, accounting skills, bargaining skills, people skills cum networking skills and of course overall business management skills.

Over and above, if you have decided to start an electrical shop business, then you should ensure that you carry out your feasibility studies and also market survey. Below is a sample electrical shop business plan template that can help you to successfully write your own with little or no difficulty.

A Sample Electrical Shop Business Plan Template

1. industry overview.

Electrical store business is part of the Electrical Equipment Wholesaling industry and this industry consists of businesses that are into the sale and supply of wiring, lighting fixtures and light bulbs, relay and industrial controls, switchgear and switchboard apparatus, motors and generators, power and distribution transformers and other electrical equipment.

On the average, an electrical supply company distributes electrical construction materials, such as wiring supplies, electrical light fixtures, light bulbs, security systems, electrical power equipment, switchboards, circuit breakers and fuses to construction companies. Hence, demand from building, developing and general contracting largely determines industry revenue growth.

In addition, demand for many of the industry’s products depends on industrial production and electrical power consumption. As manufacturing activity in the economy increases and those companies invest in equipment, they purchase industry goods to both outfit their factories and to act as intermediary components.

If you are a close watcher of the Electrical Equipment Wholesaling industry, you will agree that over the past five years, the Electrical Equipment Wholesaling industry has struggled to rebuild itself, even as the overall economy strengthens.

Industry goods are purchased by professional contractors and consumers engaged in remodeling and construction projects.

Rising consumer confidence and household income have helped ignite remodeling activity forestalled during the recession, providing additional demand for electrical equipment used in home improvement projects. Even so, rising competition from large home improvement stores has stifled revenue growth for electrical supply stores.

Statistics has it that in the united states of America alone, there are about 17,709 registered and licensed electrical supply stores responsible for employing about 226,258 people and the industry rakes in a whooping sum of $179 billion annually.

The industry is projected to grow at 2.2 percent annual growth within 2013 and 2018. It is important to state that The Electrical Equipment Wholesaling industry has no companies with major market shares.

A recent report published by IBISWORLD shows that over the past five years, the Electrical Equipment Wholesaling industry has grown by 2.2 percent to reach revenue of $179bn in 2018. In the same timeframe, the number of businesses has grown by 0.7 percent and the number of employees has grown by 3.6 percent.

The Electrical Equipment Wholesaling industry is highly regulated in the United States of America and anyone who aspires to start an electrical supply business must apply and obtain a license before they can legally operate in the industry.

If you are contemplating opening an electrical shop business in the United States, you should ensure that you carry out a thorough market survey and feasibility studies so you that you will be able to get the ideal location to launch your electrical shop business.

The truth is that, if you get some key factors wrong before starting your own business, then you are likely going to struggle to stay afloat.

2. Executive Summary

Allan Pearson® Electrical Shop, Inc. is a registered electrical equipment store business that will be located in one of the busiest streets in Kansas City – Missouri. We have been able to lease a facility that is big enough (a 5 thousand square foot facility) to fit into the kind of standard electrical equipment store that we intend launching and the facility is located in the heart of Kansas City – Missouri.

Allan Pearson® Electrical Shop, Inc. will retail electrical equipment and materials, such as wiring supplies, electrical light fixtures, light bulbs, security systems, electrical power equipment, switchboards, circuit breakers and fuses et al to customers.

We are set to service a wide range of clientele in and around Kansas City – Missouri. We are aware that there are several electrical equipment stores all around Missouri, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

We have an online – service option for our customers, and our outlet has various payment options. Allan Pearson® Electrical Shop, Inc. will ensure that all our customers are given first class treatment whenever they visit our electrical equipment store.

We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large they may grow to. We will ensure that we get our customers involved in the selection of brands that will be in our store and also when making some business decisions.

Allan Pearson® Electrical Shop, Inc. is a family business that is owned by Allan Pearson and his immediate family members. Allan Pearson has a B.Sc. in Business Administration, with over 10 years’ experience in the electrical equipment wholesaling industry, working for some of the leading brands in the United States.

Although the business is launching out with just one outlet in Kansas City – Missouri, but there is a plan to open other outlets around major cities in the United States of America.

3. Our Products and Services

Allan Pearson® Electrical Shop, Inc. is in the electrical equipment wholesaling industry to service a wide range of clients which is why we will ensure we make available a wide range of electrical equipment from top manufacturing brands in the United States and other countries of the world.

We will do all that is permitted by the law of the United States to achieve our aim and ambition of starting the business. Some of the products in our store are listed below;

• Wiring/cables
• Lighting fixtures and light bulbs
• Relay and industrial controls
• Switchgear and switchboard apparatus
• Motors and generators
• Power and distribution transformers
• Major appliance
• Microcontroller
• Programmable logic controller
• Small appliances
• Other electrical equipment.

4. Our Mission and Vision Statement

• Our vision is to become the leading brand in the electrical equipment wholesaling industry in Missouri and to establish a one stop electrical equipment store chains in Kansas City and in other key cities in the United States of America.
• Our mission is to establish a world – class electrical equipment store that will make available a wide range of electrical equipment from top electrical manufacturing brands at affordable prices in Kansas City – Missouri and other key cities in the United States of America via franchising.

Our Business Structure

Allan Pearson® Electrical Shop, Inc. is looking towards building a standard business that can be listed among the top – flight electrical supply stores not just in Kansas City – Missouri but throughout the United States of America. For that singular reason, we will make sure that establish the business on a solid structure.

We will ensure that we hire people who are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders.

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 ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Store Manager
• Human Resources and Amin Manager

Merchandize Manager

Sales and Marketing Manager

• Accountants / Cashiers
• Customer Services Executive

Truck and Van Drivers

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
• 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 fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• 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 induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.

Store Manager:

• Responsible for managing the daily activities in the store/warehouse
• Ensures that proper records of electrical equipment are kept and warehouse does not run out of products
• Ensures that the store facility is in tip top shape and goods are properly arranged and easy to locate
• Interfaces with electrical equipment manufacturers
• Controls electrical equipment distribution and supply inventory
• Supervises the workforce in the electrical equipment sales floor.
• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of electrical equipment are purchased and retailed/supplied in good price that will ensure we make good profit
• Responsible for the purchase of electrical equipment for the organizations
• Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
• Ensures that the organization operates within stipulated budget.
• 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 purchases
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company

Accountant/Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization
• Assists in loading and unloading goods/electrical equipment
• Maintains a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
• Inspects vehicles for mechanical items and safety issues and perform preventative maintenance
• Complies with truck driving rules and regulations (size, weight, route designations, parking, break periods etc.) as well as with company policies and procedures
• Collects and verifies delivery instructions
• Reports defects, accidents or violations

Client Service Executive

• 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 customers on the phone, uses every opportunity to build client’s interest in the company’s products
• Manages administrative duties assigned by the human resources and admin manager 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 customers when they make enquiries

6. SWOT Analysis

Any profitable business or a business with prospects is bound to be competitive and as a new business, you must be ready to compete in the industry and competing in the industry means that you must follow due process in establishing a business.

We are quite aware that there are several electrical equipment stores all over Kansas City and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats.

Allan Pearson® Electrical Shop, Inc. employed the services of an expert HR and Business Analyst with bias in supply store chain business to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our goals and objectives. This is the summary of the SWOT analysis that was conducted for Allan Pearson® Electrical Shop, Inc.;

Our business is located in a city with heavy construction and real estate activities and also, we can boast of having good business relationship with top manufacturers in the electrical equipment manufacturing industry and construction contractors in and around Kansas City – Missouri.

A major weakness that may count against us is the fact that we don’t have our own electrical equipment production plant, we are a new electrical equipment store and we don’t have the financial capacity to compete with multi – million dollars electrical equipment stores when it comes to retailing electrical equipment at a rock bottom price.

• Opportunities:

The fact that we are going to be operating our electrical equipment store in one of the busiest construction locations in Kansas City – Missouri provides us with unlimited opportunities to sell our electrical equipment to a large number of construction contractors.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they order electrical equipment from us; we are well positioned to take on the opportunities that will come our way.

A major threat that we are going to face as an electrical supply business operating in the United States of America is uncertainty in government policies as it relates to price control and influx of electrical equipment manufactured outside the United States of America.

When the prices charged by manufacturers to wholesalers’ decline, wholesalers typically have to reduce their selling prices to retailers. This results in subdued revenue growth for wholesalers, even if demand expands.

7. MARKET ANALYSIS

• Market Trends

If you are conversant with the electrical equipment stores Industry, you will quite agree that the changes in disposable income, consumer sentiment, ever changing trends and of course the rate of homeownership are major growth drivers for this industry.

A massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth.

So also, the rising demand for both building renovations, as a result of increasing disposable income and consumer sentiment, will result in revenue growth, but profit margins will stagnate as electrical equipment stores keep prices low to attract more sales amid growing competition.

A close watch of industry activities reveals that, the retail market for electrical equipment was hit hard by the recent economic downturn and experienced a decline in revenue in recent time. The construction of new homes is a primary market for industry products, so as housing stats increase, demand tends to follow.

Moreover, as home builders have increased their use of electronics, demand for complementary electrical equipment has risen. In 2018, housing stats increased, presenting a potential opportunity for the industry. As part of marketing strategies, electrical equipment stores partner with key players in the construction and real estate industry. They are in the best position to offer you electrical equipment supply contract.

8. Our Target Market

We have positioned our electrical equipment store to service the construction industry in Kansas City – Missouri. We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to supply a wide range of electrical equipment to the following;

• Construction Companies
• Construction Contractors
• Home Remodeling Companies
• Facility managers
• Households in and around our store locations

Our Competitive Advantage

A close study of the industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry. We are aware of the stiff competition and we are prepared to compete favorably with other leading electrical equipment stores in Kansas City – Missouri and throughout the United States.

Allan Pearson® Electrical Shop, Inc. is launching a standard electrical equipment store that will indeed become the preferred choice for key players in the construction cum real estate industry in Kansas City – Missouri. Our electrical equipment store is located in a corner piece property in the largest electrical equipment market in Kansas City – Missouri.

We have enough parking space that can accommodate over 10 cars/trucks per time. One thing is certain, we will ensure that we have a wide range of electrical equipment available in our store at all times. It will be difficult for customers to visit our store and not see the type of electrical equipment that they are looking for.

One of our business goals is to make Allan Pearson® Electrical Shop, Inc. a one stop electrical equipment shop for customers at all levels. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Allan Pearson® Electrical Shop, Inc. will retail a wide range of electrical equipment to businesses in Kansas City – Missouri. We are in the electrical equipment wholesaling industry to maximize profits and we are going to ensure that we achieve or business goals and objectives.

Allan Pearson® Electrical Shop, Inc. will generate income by;

10. Sales Forecast

One thing is certain when it comes to electrical equipment stores, if your store is stocked with various types of electrical equipment and centrally positioned, you will always attract customers cum sales and that will translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Kansas City – Missouri and we are quite optimistic that we will meet our set target of generating enough income/profits from our first six months of operation and grow the business and our clientele base.

We have been able to examine the electrical equipment wholesaling industry, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below is the sales projection for Allan Pearson® Electrical Shop, Inc., it is based on the location of our business and other factors as it relates to electrical equipment stores startups in the United States;

• First Fiscal Year:  $350,000
• Second Fiscal Year:  $550,000
• Third Fiscal Year:  $750,000

N.B : This projection was 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 retailing same electrical equipment and customer care 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

Before choosing a location for Allan Pearson® Electrical Shop, Inc., we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market and become the preferred choice for key players in the industry in Kansas City – Missouri.

We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.

We hired experts who have good understanding of the electrical equipment stores industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Kansas City – Missouri.

In summary, Allan Pearson® Electrical Shop, Inc. will adopt the following sales and marketing approach to win customers over;

• Open our electrical equipment store in a grand style with a party for all.
• Introduce our electrical equipment store by sending introductory letters alongside our brochure to construction companies, construction contractors, home remodeling companies and other key stake holders in Kansas City – Missouri
• Ensure that we have a wide range of electrical equipment from different manufacturing brand at all times.
• Make use of attractive handbills to create awareness and also to give direction to our electrical equipment store
• Position our signage/flexi banners at strategic places around Kansas City – Missouri
• Position our greeters to welcome and direct potential customers
• Create a loyalty plan that will enable us reward our regular customers
• List our business and products on yellow pages ads (local directories)
• Leverage on the internet to promote our business
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy

Despite the fact that our electrical equipment store is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our electrical equipment store.

Allan Pearson® Electrical Shop, Inc. has a long – term plan of opening outlets in various locations all around Missouri and key cities in the United States which is why we will deliberately build our brand to be well accepted in Kansas City before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Allan Pearson® Electrical Shop, Inc.;

• Place adverts on community – based newspapers, radio and TV stations
• Encourage the use of word of mouth publicity from our loyal customers
• Leverage on the internet and social media platforms and other platforms to promote our business.
• Ensure that our we position our banners and billboards in strategic positions all around Kansas City – Missouri
• Distribute our fliers and handbills in target areas in and around our neighborhood
• Advertise our electrical equipment store business in our official website and employ strategies that will help us pull traffic to the site
• Brand all our official cars and trucks and ensure that all our staff members wear our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to electrical equipment stores, it is normal for consumers to go to places where they can get electrical equipment at cheaper price which is why big players in the industry attract loads of clients.

We know we don’t have the capacity to compete with multi – million dollar electrical equipment supply stores but we will ensure that the prices and quality of all the electrical equipment that are available in our store are competitive with what is obtainable amongst stores within our level.

• Payment Options

The payment policy adopted by Allan Pearson® Electrical Shop, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America. Here are the payment options that Allan Pearson® Electrical Shop, Inc. will make available to her clients;

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

In view of the above, we have chosen banking platforms that will enable our client make payment for purchase of our electrical equipment without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for products purchased.

13. Startup Expenditure (Budget)

From our market survey and feasibility studies, we have been able to come up with a detailed budget for establishing a standard electrical equipment supply business in Kansas City – Missouri and here are the key areas where we will spend our startup capital;

• The total fee for registering the Business in Kansas City – Missouri – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of Allan Pearson® Electrical Shop, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• The cost for hiring Business Consultant – $2,500.
• Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $65,600.
• The cost for shop/warehouse remodeling (construction of racks and shelves) – $20,000.
• Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The cost for start-up inventory (stocking with a wide range of electrical construction materials, such as wiring supplies, electrical light fixtures, light bulbs, security systems, electrical power equipment, switchboards, circuit breakers and fuses) – $250,000
• The cost for counter area equipment – $9,500
• The cost for store equipment (cash register, security, ventilation, signage) – $13,750
• The cost of purchase and installation of CCTVs – $10,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
• The cost of launching a Website – $600
• Miscellaneous – $10,000

We would need an estimate of $450,000 to successfully set up our electrical equipment store in Kansas City – Missouri.

Generating Funds/Startup Capital for Allan Pearson® Electrical Shop, Inc.

Allan Pearson® Electrical Shop, Inc. is a private business that is solely owned and financed by Allan Pearson and his immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.

• Generate part of the startup capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from the bank

N.B: We have been able to generate about $150,000 (Personal savings $100,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

Part of the plans we have in place to sustain Allan Pearson® Electrical Shop, Inc. is to ensure that we continue to make available a wide range of electrical equipment, retail our products at competitive prices, improvise on how to do things faster and cheaper. We are not going to relent in providing conducive environment for our workers

From our findings, another factor that kills new business is financial leakages. In order to plug financial leakages, the management of Allan Pearson® Electrical Shop, Inc. adopt the use of payment machine and accounting software to run the business.

Allan Pearson® Electrical Shop, 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.

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 Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the shop: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Printing of Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Purchase of initial supply of electrical construction materials, such as wiring supplies, electrical light fixtures, light bulbs, security systems, electrical power equipment, switchboards, circuit breakers and fuse: In Progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Compilation of our list of products that will be available in our store: Completed
• Establishing business relationship with vendors – manufacturers of electrical equipment and construction contractors: In Progress

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Electrical Business Plan Template PDF

A successful electrical business is based on a solid business plan. To help you out, we've designed a business plan template PDF specifically for your electrical business.

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For help completing your electrical business plan, read our guide .

How can an electrical business plan template help you?

• A solid electrical business plan acts as your strategy guide for building a successful electrical business.
• Whether you're an existing electrical business or just starting out, a business plan helps you get organised.
• Use an electrical business plan to help secure funding for your business.

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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

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.

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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.  

Electrical Contracting Business Plan FAQs

What is the easiest way to complete my electrical contractor business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Electrical Contractor Business Plan.

What is the Goal of a Business Plan's Executive Summary?

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 the status; for example, are you a startup, do you have an electrical contractor business that you would like to grow, or are you operating a chain of electrical contractor businesses?

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Electronics Shop Business Plan

The advancement in technology is wild, and so is the upgradation of electronic appliances. Therefore, starting an electronics shop is a profitable venture.

Anyone can start a new business, but you need a detailed business plan when it comes to raising funding, applying for loans, and scaling it like a pro!

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

Free Business Plan Template

Download our Free Business Plan Template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
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How to Write An Electronics Shop Business Plan?

Writing an electronics shop 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 whole 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.

Market Opportunity:

Product offering:.

• For instance, you may include televisions, audio speaker sets, laptops, tablets, mobile phones, etc as some of your products.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

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:

Business Description:

Describe your business in this section by providing all the basic information:

Describe what kind of electronics shop you run and the name of it. You may specialize in one of the following electronics shop businesses:

• Retail electronics store
• Online electronics store
• Specialized electronics store
• Wholesale electronics supplier
• Electronic repair shop
• Describe the legal structure of your electronics shop, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.

Mission Statement:

Business history:.

• Additionally, If you have received any awards or recognition for excellent work, describe them.

Future Goals

This section should provide a thorough understanding of your business, its history, and its 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:

• For instance, general consumers, tech enthusiasts, small business owners, or gamers would be an ideal target audience for a commercial electronics shop.

Market size and growth potential:

• For instance, the electronics shop industry was $159.6 billion in 2022, so it is crucial to define the segment of your target market and its growth potential.

Competitive Analysis:

Market trends:.

• For instance, smart home devices have a booming market; explain how you plan on dealing with this potential growth opportunity.

Regulatory Environment:

Here are a few tips for writing the market analysis section of your electronic store 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:

Electronics shop’s products:

Mention the electronics shop products your business will offer. This list may include,

• Smartphones
• Audio speakers
• Televisions
• Smart home devices
• All other electrical appliances & accessories

Quality measures:

• This may include product authenticity & legitimacy, product inspection & testing, product warranty & guarantee, etc.

Additional Services

In short, this section of your electronics shop 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):

• For example, expert staff & technical support, a wide product range, or competitive pricing could be some of the great USPs for a professional electronics shop.

Pricing Strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your electronics shop 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 electronics shop, 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:

Operational process:, equipment & software:.

• 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 electronics shop’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:

Key managers:.

• It should include, senior management, and other department managers (e.g. operations manager, technical service manager.) involved in the electronics shop business operations, including their education, professional background, and any relevant experience in the industry.

Organizational structure:

Compensation plan:, advisors/consultants:.

• 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 electronics shop 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:

Cash flow statement:, balance sheet:, break-even point:.

• This exercise will help you understand how much revenue you need to generate to sustain or be profitable.

Financing Needs:

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 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 electronics shop 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 electronics shop business plan will provide an idea for writing a successful electronics shop 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 electronics shop business plan pdf .

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Frequently asked questions, why do you need a food distribution business plan.

A business plan is an essential tool for anyone looking to start or run a successful electronics shop. 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 electronics shop.

How to get funding for your electronics shop?

There are several ways to get funding for your electronics shop, 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.

Where to find business plan writers for your electronics shop?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your electronics shop business plan and outline your vision as you have in your mind.

What is the easiest way to write your electronics shop business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any electronics shop business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .

Can a good electronics shop business plan help me secure funding?

Indeed. A well-crafted electronics shop business plan 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.

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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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.

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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.

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Electronics Retailer Business Plan

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Safe Current

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Safe Current is small business unit of The Cleveland Illuminating Company (TCIC), and electric utility. Safe Current was formed and will be lead by Brian Henderson.

Safe Current has identified three key factors that will be instrumental to its sustainability:

• Ensure 100% customer satisfaction: Repeat customers and customer referrals are valuable.
• Design and sell meaningful and valuable power protection products.
• Design and implement strict financial controls. This is very important because although Safe Current is a small business unit of TCIC, they must be a stand alone entity financially and and yet they have financial and accounting responsibilities to the shareholders of TCIC.

Products Safe Current will offer two main products, surge arrestors and surge protectors. These products are made by a contract manufacturer and sold under the Safe Current brand name:

• Surge Arrestors : This is a piece of equipment that is mounted on the outside of a house or business near the meter that offers protection from external electrical surges.
• Surge Protectors : This is a piece of equipment that protects individual or groups of appliances against internal electrical spikes. All of Safe Currents protectors are of industrial grade.

Management Brian has an MBA from Case Western Reserve University and has experience working for the large telecom ATT as an assistant project manager, and Allegheny Power working in the value added services department. Safe Current has been forecasted to achieve impressive sales for years two and three, with correspondingly respectable net profit.

1.1 Objectives

• To develop a profitable product for TCIC that is unregulated from the core power generation business services.
• To become profitable within one year.
• To use this business as a successful model for future ventures.

1.2 Mission

To develop a family of surge protectors and arrestors for consumers that offer safety and value. Safe Current will leverage the strength of The Cleveland Illuminating Company to help build brand recognition. All customer’s expectations will be exceeded with their innovative, useful products and complete customer satisfaction is guaranteed.

1.3 Keys to Success

• Offer every customer 100% satisfaction.
• Design and sell meaningful, valuable, power protection products.
• Design and employ strict financial controls.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Safe Current is an unregulated subsidiary of The Cleveland Illuminating Company that sells direct to businesses and consumers. It will be operated as a stand alone business leveraging the existing resources and goodwill of TCIC.

Safe Current will be located on site at TCIC, using an office within the complex and also sharing TCIC’s computer network connection and phone connections. Safe Current will operate their own customer service call department. Safe Current will use TCIC’s existing call center for sales calls and TCIC’s existing billing system as well as their order fulfillment and shipping departments. Safe Current will pay a flat rate (10%) for these services.

The Cleveland Illuminating Company has chosen to create Safe Current as a means of increasing the rate of return to shareholders outside the government regulated rates available to electric utilities.

2.1 Company Ownership

Safe Current is a wholly owned subsidiary of TCIC.

2.2 Start-up Summary

Safe Current will leverage the existing resources of TCIC and pay a set overhead fee for the resources used. Equipment that will be needed as follows:

• Five computer stations, one laser printer; Microsoft Office, Access, and proprietary software used by TCIC; network connection to TCIC.
• Five office furniture setups.
• A five extension phone system.

Market Analysis Summary how to do a market analysis for your business plan.">

Safe Current has identified three distinct market segments that they will target. The first segment is family home owners, typically with children, and the second is single home owners.

These two segments have been chosen because families with children typically have a large number of electronic devices and the upper income single home owners often adopt technology using lots of gadgets in their home.

The third segment is commercial businesses that have equipment they want protected. Competition is very limited for surge arrestors as they require electric utility installation. There is some competition with the surge protectors, however the competitive products are of a consumer level of quality and protection, different from Safe Current’s products which offer industrial levels of protection.

3.1 Market Segmentation

Safe Current has segmented the market into three distinct groups.

Family home owners This segment generally has electronic equipment and lives in middle- to high-end homes.

• 69% have at least one child.
• The median household income is $77,000.
• Eat out 2.3 times a week.
• 58% of the families have two incomes.
• 63% have cable TV.
• 49% have a broadband Internet connection.

Single home owners This segment is a single person who owns their own home. They are generally professionals who often use a lot of electronic technology.

• Ages 25-40.
• 71% are professionals.
• The median household income is $62,000.
• Eat out 2.7 times a week.
• 72% have cable TV.
• 71% have a broadband Internet connection.

Commercial sales This segment is small to mid-size businesses that have expensive electronic equipment that they need protected. Commercial sales are not industry specific. All businesses, regardless of type, have pieces of equipment that can be protected.

3.2 Target Market Segment Strategy

Safe Current is targeting these groups since all tend to have many pieces of electronic equipment all of which are vulnerable to power surges.

While most home owners insurance offers some level of compensation for damage, deductibles are typically high enough that most people do not make claims. Both segments are already customers and aware of TCIC’s reputation for safety, reliability and operational excellence, making it easy to solicit their business.

3.3 Industry Analysis

Safe Current operates selling two similar service devices, surge arrestors and surge protectors. While these products are similar, they have serve different purposes.

The surge arrestors are a product that can only be offered by a utility so it is typically only sold and installed as a package by the utility.

The surge protectors operate within the more general consumer product segment as evidenced by the fact that surge protectors can be found by a wide range of retailers such as hardware stores, do-it-yourself type stores, and computer and electronic retailers.

It should be noted that Safe Current’s parent company, The Cleveland Illuminating Company is an electric utility and is therefore operating within a regulated industry. Current regulation by the public utility commission (PUC) dictates that the rate of return is capped at 10.5% for utility activities.

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3.3.1 Competition and Buying Patterns

Surge arrestors Safe Current does not face any real competition for the arrestors due to the installation requirement of the electric utility.

While there are four current vendors that sell the actual arrestor equipment, it is far more expensive to buy the equipment and then pay the utility for installation than buying the package (product and installation) directly from the utility.

Surge protectors Safe Current faces general competition from several sources. This is qualified as general competition since the products typically sold (90% of the time) are of consumer quality versus the industrial quality that Safe Current offers.

Due to TCIC’s direct contacts with electrical component manufacturers and their sheer buying scale/power, Safe Current is able to offer high-quality industrial grade products for prices that are similar to the consumer units. Competitors in this segment include:

• Hardware stores
• Mass merchants
• Do-it-yourself stores
• Computer retailers
• Electronic retailers

3.4 Products

Safe Current will offer a family of surge arrestors and surge protectors for consumers. A surge protector protects appliances plugged into it against spikes in voltage.

A surge arrestor or “whole house surge protector” protects all circuits of a house from a surge in current emanating from outside the building. These products will protect consumers and their sensitive electric and electronic appliances from power surges or transient voltage.

A power surge is an increase in voltage significantly above the designated level of flow of electricity. If a surge or spike is high enough it will inflict serious damage, just like applying to much water pressure through a hose. Too much will case the hose to burst. The same thing happens when there is too much electrical pressure through a wire, the wire “bursts.”

Surge protectors work by diverting the extra electricity into the outlet’s grounding wire. A surge arrestor offers the same protection, however, the protection occurs before the current comes into the home. There are several sources of surges.

The most familiar source is lightning. When lightning strikes near a power line, the electrical energy creates a boost of electrical pressure. A surge arrestor is the best form of protection against lightning as a lightning surge will overpower most surge protectors.

A more common source is the operation of high power electrical devices such as refrigerators and air conditioning units. These appliances cause spikes when their compressors or motors are turned on and off, creating sudden, brief demands for power and upsetting the flow of the electrical voltage.

These types of surges can be protected only by surge protectors because the spike occurs within the home and not from the electrical grid.

The last main source of surges come from the utility company’s equipment. The complex system of equipment that brings electrical power from the grid into the home may have points of failure that can cause uneven power transmissions.

A combination of a surge arrestor and surge protectors on major or expensive electric/electronic components can significantly decrease the possibility of surge/spike damage.

Safe Current will offer two main products, surge arrestors and surge protectors. These products are made by a contract manufacturer and sold under the Safe Current brand name:

Safe Current has chosen to outsource production because 1) it has numerous relationships with contract manufacturers that can make the products for far less than they can, 2) production would create significant capital costs which are truly unnecessary. The beauty of this business model is the usage of contract manufacturers and the leveraging of TCIC resources.

Strategy and Implementation Summary

Safe Current has developed a targeted strategy that allows them to leverage their competitive edge and quickly gain market penetration. Safe Current’s competitive edge is its ability to use The Cleveland Illuminating Company’s utility status for the sale of house surge arrestors and protectors.

The marketing strategy will concentrate on the ability to offer supreme, inexpensive protection for an entire family’s stable of electric and electronic appliances. This campaign will be communicated through various methods and will focus on the product offerings coming from the safe, established TCIC, an icon of Cleveland for over 50 years. Please review the following sections for a more detailed analysis.

4.1 Competitive Edge

Safe Current’s competitive edge is their ability to leverage the huge advantage of being aligned with The Cleveland Illuminating Company, an electric utility serving the Cleveland market for over 50 years. TCIC has spent a long time developing brand equity and Safe Current will be able to tap into this equity immediately.

Safe Current will also be able to use TCIC’s extensive vendor connections and buying power. The last component of their competitive edge is Safe Current’s exclusive ability to install house arrestors. This last edge is a sustainable edge since no other company will ever be able to make arrestor installations, a function of the regulated power industry.

4.2 Marketing Strategy

Safe Current’s marketing strategy will seek to communicate the idea that the products that they offer are in effect cheap insurance against large electric and electronic appliance damage or losses.

By proactively purchasing Safe Current’s products, customers are able to protect against loss and damage of all of their expensive appliances. While many homeowners probably have some sort of insurance, deductibles are often prohibitively high, making a claim for damage to one or a couple appliances not worth the money. Safe Current will use several forms of communication for this marketing campaign:

• Inserts in Bills : Colorful inserts will be added into the bills of TCIC customers. Currently, the customers are receiving a monthly bill from TCIC and inserts are an inexpensive, yet powerful way of reaching the customers.
• Website : Safe Current will have a website which will be comprehensive in describing the different product offerings as well as allowing the customer to order directly from the site.
• Direct Mail : Another advantage of the relationship Safe Current has with TCIC is the ability to use their customer database. This allows Safe Current to generate a targeted list of customers that they can send product information to.

4.3 Sales Strategy

This idea is evidenced by the fact that almost every time that a consumer reaches for a light switch the light goes on. Sure there are interruptions, often weather related, that interrupt the electrical service, but those interruptions are reconnected quite fast.

The utility is stable and safe and is always working to serve the customer. These electricity related products will clearly leverage the brand equity developed by TCIC over the last five decades.

4.3.1 Sales Forecast

The sales forecast has been developed as a forecast and tracking tool to provide the company with realistic sales goals as well as a way to verify progress. The forecast has been developed as a conservative estimate, not an aggressive sales promise.

By adopting a conservative forecast, Safe Current increases the likelihood of reaching sustainable sales growth. The following table and charts provide more detailed information about the sales cycle, both from a temporal viewpoint and a product perspective.

4.4 Milestones

Safe Current has identified several quantifiable, reachable milestones that will serve as goals that the entire organization will work toward in order to make Safe Current a sustainable business.

The following table details the specific milestones as well provides a temporal timetable for expected completion dates. Following the table is a chart for a graphical representation of the information.

Web Plan Summary

Safe Current’s website will be used as both a marketing and sales tool. It will take on marketing responsibilities as one of the communication methods used to raise awareness regarding Safe Current’s product families. Extensive product information will be included on the site in an easy to use format.

The site will also be used as a sales tool, allowing customers to purchase the products as well as set up installation appointments for the surge arrestors. Allowing the website to offer sales support will provide consumers with a convenient way to purchase the products as well as provide Safe Current with a low-cost sales program that does not require a live sales support agent. The site will periodically be updated to encourage customers to make repeat visits.

5.1 Website Marketing Strategy

Safe Current will market their website in two primary ways:

• Search engine submission : As search engines become more and more powerful, a large number of Internet users use them to find relevant information on the Internet. Safe Current will submit their site to many popular engines ensuring that their site comes up high on the list of hits.
• URL reference in all printer material : The Web address, www.safecurrent.com, will be printed on all material that Safe Current uses encouraging consumers to check out the site.

5.2 Development Requirements

The website will be developed by TCIC’s internal Web development team for the price of $5,000.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

Brian Henderson received a Bachelors of Science in business and marketing from the University of Pittsburgh and an MBA from Case Western Reserve University. Upon graduation from the MBA program, Brian went to work for ATT for three years. At ATT Brian was an assistant project manager, selling telephone accessories using direct marketing techniques. After his ATT experience, Brian worked for Allegheny Power, a Pennsylvania-based electric utility. At Allegheny Power Brian was again an assistant project manager in charge of selling commercial businesses value added services. Brian spent three years at Allegheny before joining The Cleveland Illuminating Company as a Project Manager.

6.1 Personnel Plan

As a side business unit of TCIC, Safe Current will have only a few employees. Billing, sales, and order fulfillment will be accomplished using TCIC’s existing organization, paying a 10% fee for these services. The employees/positions that Safe Current will use include:

• Project Manager : Brian will take on a wide range of functions including business development, product procurement, management, and sales.
• Customer Service Agents (4): These positions will assist customers calling about Safe Current’s products. Additionally, at times the employees may help Brian with other activities.

Financial Plan investor-ready personnel plan .">

The following sections outline important financial information.

7.1 Important Assumptions

The following table details important financial assumptions.

7.2 Break-even Analysis

The Break-even Analysis indicates what will be needed in monthly revenue to reach the break even point.

7.3 Projected Cash Flow

The following chart and table displays projected cash flow.

7.4 Projected Profit and Loss

The following table presents projected profit and loss.

7.5 Business Ratios

The following business ratios detail both ratios specific to Safe Current as well as ratios specific to the general industry. Variances in Safe Current’s ratios relative to the industry’s can be explained by the fact that Safe Current is able to leverage the valuable assets of TCIC, an electric utility, to achieve above market margins. As a small business unit of an electrical utility it is normal for business ratios to be different from the competition.

7.6 Projected Balance Sheet

The following table details the projected balance sheet.

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