Electrical Business Plan

Electrical Business Plan-32
The plan can also put your sales and profits through the roof, the trouble is 77 percent of contractors don’t have one.Instead, they roll along while the weather is bringing in business, and the minute it slows, they start desperately throwing money on an ad.

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This is also an extremely varied business – ideal if you hate the idea of being stuck in an office all day and feel that you are a more “practical” person.

If you plan to do the electrical work yourself you will need to be a fully qualified electrician.

If you intend to employ staff, bear in mind that you will also need employers liability insurance.

Buying insurance for electrical contractors can be expensive since electrical work carries a high level of risk as far as the insurer is concerned.

Marketing and branding is very important as you will need to not only make people aware of your company but also convince them that you are the best electrical contractor to carry out the job.

Reputation is important to electricians, so joining a relevant trade organisation such as the ECA is a worthwhile investment and goes a long way towards providing reassurance to your clients.You will also need to buy or lease a reliable vehicle and then spend some money on painting it in your company colours.You may choose to invest in a commercial space as well to run your business operations from on a day to day basis.The vast majority of people who start an electrical contracting business already have many years of experience in working as an electrician as an employee, meaning it is relatively easy for them to start up on their own.Although it can be hard work, electricians earn good money and there are many markets that can prove to be particularly lucrative – for example emergency electricians and larger-scale electrical installations in construction projects.Electrical contractors are seemingly always in demand.If you have previous experience of working as an electrician and you have the relevant qualifications needed to work in the field (or you are planning to go into business with someone who has) then starting an electrical contracting business could provide you with a very profitable business with great growth potential.The number one marketing question from electricians is, “What do I do? ” The right answer to each question takes planning.The effective contractor marketer knows the answers long before the questions are asked.A simple marketing “attack” plan gives you a strategy that considers the needs of your market and provides a year-round plan to meet those needs.It gives you a calm, rational approach to anticipate the slow times and provides ways to keep promoting yourself when business is booming.

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