Financial Feasibility As previously discussed, now is a better time than ever to start an electrical company in the United States. Currently, we can estimate our startup costs and give some prediction as to what our profit margin will be when we begin operating to the fullest extent. We have 5 employees at this time, all licensed electricians (journeymen), in the state of Virginia. Each individual requires $2,000.00 worth of tools and equipment (Electrician's tool list, 2023)., We plan to operate out of a rented location, likely costing around $2,000.00 per month. We also will require vehicles. At first, we plan to use our personal vehicles to travel directly to clients and invest in one company van which will be paid off over time. The monthly payment is $500.00 per month on the vehicle. Another very important aspect of our financial plan is business insurance, including legal liability, worker's compensation, and automobile coverage for our company vehicle. The estimated cost is $470.00 per month. For marketing purposes, we have invested $300.00 per month in social media, radio, and television advertisements. It may also be worth considering accounting software and website development to be costed for later., We are forecasting large amounts of revenue from multiple income streams at the onset of our business. First and foremost, contracting with larger businesses like hospitals, nursing homes, and banks to install solar panels will be a huge part of our earnings. Solar installation, accounting for labor as well as cost per watt, can run up to $90,000.00 for larger businesses (Odogwu & Drolet, 2024). Residential electrical work will be billed differently, and we will likely charge anywhere between $80.00-$100.00 per hour to improve electrical systems. We may have fixed prices for certain services that incentivize customers to work with us. The 24-hour emergency services will be billed at no less than $100.00 per hour, including travel times. We can estimate that our team will be earning anywhere from $1,000.00 to $5,000.00 per day depending on the amount of business and the number of hours worked., Flash Gordon Electrical is financially feasible because it requires only a small initial investment for a large return. From the influx in capital, we will be able to hire more employees and perhaps even invest in our team to help them become Master electricians. With monthly operating costs estimated at under $6,000.00 per month, we can guarantee that
Flash Gordon Electrical services will be a lucrative investment and positive addition to the market., Works Cited, Electrician tools list: 40 professional tools to buy (with prices). Jobber. (2023, October 19). https://getjobber.com/academy/electrical/electrician-tools-list/ Odogwu, C., & Drolet, S. (2024, March 14). How much do solar panels cost ?. CNET. https://www.cnet.com/home/energy-and-utilities/solar- panel-cost/,