Electrical Contracting Business Plan

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Contact real estate agents to buy or rent commercial premises with the space to accommodate an office area and storage for supplies and equipment.

Open trade accounts with electrical equipment suppliers so you can obtain supplies and pay for them monthly.

The first step is to explore why you want to start an electrical business in the first place. Maybe you crave flexible hours that free up more time with your family?

It might sound a bit airy fairy, but at the end of the day, a personal understanding of what’s motivating you to kick-start your entrepreneurial journey will create a strong foundation on which to build your business. 1 Training and qualifications The absolute first step is to obtain education and training from a certified trade school or apprenticeship programme.

No matter how ‘gung ho’ you are at changing lightbulbs, official certification is essential.

You’ll be hard pressed to secure clients without it, and will also be putting your safety (and the safety of any employees you take on) at risk.Navigating the path to entrepreneurship isn’t always easy, but the payoffs are sweet.So if you’re thinking of going solo, this in-house Tradify guide is for you.Your plan should include all key business details, such as financial projections, growth opportunities, marketing strategies, financing, short/long term goal outlines and so on.At this stage, enlisting the help of a business consultant can make the process markedly easier. 4 An entrepreneurial state of mind Alicia Keys croons about New York, but when it comes to setting up an electrical business, it’s all about embracing the entrepreneurial state of mind.Facilities managers who need occasional maintenance or upgrade services are another useful source of work.Contact electrical retailers and do-it-yourself stores about opportunities to become their recommended electrician for customers who need installation for products like home entertainment systems, security systems or home automation.However, contractors are diversifying into other areas of work, such as home or industrial automation, green energy and communication systems, according to the 2012 Profile of the Electrical Contractor survey.Developing the skills to offer a specialist service in those alternative markets may help you to compete effectively against other local contractors offering a general service.Electrical Contractor’s 2012 Profile of the Electrical Contractor notes that employees in smaller firms are more likely to have apprenticeship, trade or vocational school training, compared to larger firms where technology changes are driving employers to hire employees with higher qualifications.In most states, you will need an electrical contractor license. In certain states, you may need local permits for compliance with public safety, diversity, and occupational health and safety legislation.

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