Purpose testimonial
The objective of developing the business plan is to receive an approval regarding loan requirement and gaining the shareholders trust.
The functioning company would be started by incurring some costs as startup up costs and the capital required for starting the business would be provided by loan. Following below mentions about the prerequisites of starting the business:
To offer commercial and domestic sites with the facility solar and electrical installation of professional and superior nature. In addition to this, the company would be particular in testing and inspecting numerous electrical equipment.
Apart from working as solar panel installer, being ready to make use of other skills to build up or to venture that is the ability to the domestic testing, electrical, solar and commercial sites. In a span of a year, there is a target to have 3 vans on the road with an apprentice and electrician in each and warehouse have shelf’s and be stocked by making use of the equipment’s needed for a month. There is need to have an office having at least with 3 different subdivisions such as accountant office, director office and an office for the front deck, an office for the book keeper. Such divisions are intended to create workplace where there can be comfortable space for people to work, make phone calls and scheduling and booking job. Accurate PPE should be provided to all the onsite staffs in order to ensure that every employee goes back home safely.
In a time span of 5 years, there is hope that company reaches on one of the leading solar installer in WA with at least 10 vans on the road and doing road installation and providing service to the solar systems. In addition to this, installation of the electrical components would be done by involving more than 2 crews. For example, lighting of the power points and testing would be done by one of the crews. There would be proper training which would be given to all the employees working in the concerned department.
Applicants name
Robert Cornway
17 Stonewall CRT, Landsdale 6065
Contact number- 0430100747
Email address: [email protected]
It is required to present the interest rate charged, type of loan asked for, repayment amount and time period for repayment.
It is instructed to compute the of repayment figure using the repayment calculator of bank.
Establishment of any withdrawal of payment from business account should be done on loan agreement. The interest rate is charged at 7% per annum and it is required to make a payment of amount $1544 on monthly basis on the amount of loan of $ 50000. Such repayment is done for the time period of three years.
The amount of loan approved will be secured using the components of business and business itself.
The credit reference can be applied by visiting the website of Equifax and after opening the page, if defaults ask for entering the details. It is also required to provide the steps that would be taken to clear such defaults.
There is no defaults in my credit card after it was verified using Equifax and hence, when applying for loan, such fact would not account.
Company name
Tripower energy solutions
Legal structure
Trust fund
Description of business
Service of electrical contracting
Office address
The address of carrying out business is 23 noel street, Helena valley. However, the address will change when the warehouse would be leased.
The amenity of neighbourhood is not unfavourably impacted by the dust, odours, smoke, noise, pollution created by the business activities. The restricted area for conducting the business is 59 square meter. It might be required by the business to move to a commercial zone after the home is outgrown by the successful business.
Purchase agreement and rental details
The space for warehouse will be on lease after the expansion of business and the residence of Helena Valley would be rented.
In order to eradicate the travel downtime, it is intended to locate the warehouse on northern side of the river. Moreover, it would be leading to have a wholesaler that is close to the business warehouse. This is so because it would make it convenient for the business to get any missing part if any part of the job is missing.
Issues related to personal insurance
The cost incurred for insurance is $ 190 per month and these include
Generation of clean energy is the main focus of industry and therefore, considerable amount of work would be generated by installing batteries and solar. Extra effort has to be put in during slow period when the large commercial areas are tested for RCD. Another installation that is required during the month of summer is the installation of the split system air conditioner.
Depiction
This requires the business to provide a breakdown of all the services which the clients would be provided. The breaking down should be done into at least three different services and product. In addition to the description of the products and services, the estimated amount generated from selling each product and services is then presented. Moreover, it is also required to demonstrate the method that is used to derive the figure. The estimated amount is then allocated to the budget of profit and loss.
Some improvement might be required with the growth and advancement of business and these are
Markets that would be served by the company are real estate, farms, electrical suppliers, family or friends, builder, contract, supply of temperature through western power, retail electrical and sun boost.
Profile of customer
Business owners and home owners would be the main customers of the business requiring solar appliances systems. For reducing the downtime, the NOR will be targeted by the business if the job needs to be done in a day.
Motives of buying:
Location of customer
Perth, Western Australia
Estimating the income and size of market
Assessment would be done on the basis of research conducted and the clients has to re submit if there is no evidence of research. 20% of renewable energy has peaked by the Australians and this requires that in the coming years, numerous of efforts has to be put in.
Three major competitors profile
Solar naturally are one of the competitors also they have been into the business for around 1 years and they are basically involved into providing cheaper installation service to the clients.. Price are much lower in comparison to others and customers can deal with installer over sales personal. Likely the west State has been into the business for nearly around 9 years and they are also into providing service cheaper than others in the market and they do service installation to the customers where customers can deal with installer over sales personal. Then lastly comes the solar gain where they are involved in this business for around nearly 15 years and they also provide much cheaper installation. They are into providing hot water systems to the customers in need.
Professional look- Cleaning of warehouse, vans and uniform
Absence of upfront money- People can be assisted to save as there is $0 upfront finance in cash.
Lead generation- Customers recommending their services would be able to save their money by handing out the fliers.
The competitive advantages of the company are listed below:
SWOT analysis
|
Strengths Considerable experience Correct work done Managing job adequately |
Weaknesses Apprentices Sales Small capital Payment generation |
|
Opportunities Old company contacts |
Threats Threat from Big company |
Necessary Actions and steps are taken in order to maximise strengths and opportunities, and thereby minimise weaknesses and threats associated with it.
Target market list
Newer home owners which need the solar would be the main target because the people have a thinking that they might be moving in the near future will not want to much of their income on homes because they might at some point or the other think of relocating. Mainly the Commercial buildings that are involved in drawing allot of power. Easier to convince to get solar if they are spending allot of money on power.
The promotional strategy of the company is devoted towards solar as most of this work is confided in this market.
The promotion platform used by the business will be discusses and this will also incorporate internet or online promotion strategy.
In order to make clients aware of the products, the first start off would be the allocation of some towards advertisement. The amount would be $ 3000 and the amount will be allocated towards busies cards and website fliers. Afterwards, the allocation of costs would be done on the forecasted figure based followed by the allocation in the upcoming year. The fixed cost is incurred at the end of every year and some fixed costs are incurred as start up expenses to initiate the business and at the time of starting the business. Wages are incurred on the labours sourcing in the materials. The apprentice and van will be started at the time of the initiation of operations of the business.
The success of promotion would be monitored by the adoption of the system policies. The company would be asking the clients about how they came to know about us and to make everything work to the best, appropriate documentation would be done.
Minimizing downtime
Drive time will be minimized by booking jobs that are close.
Offering services to the clients physically
The time line will be booked using the program such as servicem8 for ensuring that work is perfectly done and no cross over exists.
Prioritising the clients
Client rapport will be built by prioritising the commercial solar and proper arrangements of the work would be done.
Material arrangement for suppliers
Spreadsheet would be used for accounting for the extra or any big jobs that needs to be done and provide assistance in allocating the budget accurately.
Booking arrangements
Techniques which are used to take and make arrangements bookings involves the people who will be engaged in answering the phones and take bookings, what method to take the bookings by using an app, software, manually. For getting the work done, timing spent over phone should be minimized because of smaller organization. In addition to this, information on booking is logged in by using software and quotes.
Determining the price
Installation for domestic work would be $ 80 per hour and it will also include travelling cost. $ 120 would be charged for the commercial jobs. Depending upon the charges made and the parts used by the company, installation of solar would be done.
Job rates and hourly rate would be used for offering or marking the discount. The jobs that would take a week to get completed would be offered with the discount.
The tickets for AC splits and battery would be acquired by someone from the company.
Account liaison and draft account preparation
The recommended software to be used is XERO and for that charge will be $ 60 per month.
Cash flow budgets will be used to control the creditors and the credit terms will be used for making the payments along with follow up.
Discussions should be made on policy if debtors would make timely payment.
Payment done in cash would be cleared in a week and mostly done using finance.
A deposit of 20% is required to be put on the job for reducing the cancellation risk in event of materials that are purchased already.
For every client, one file will be maintained and recording of receipt and payment is done in the cash book and organization of file will be done regularly. Material requirements calculations and files quotation are done together.
For having adequate room, shed will include solar gear worth 20k.
Written agreement will be used for engaging the clients so that they have knowledge about the company policies. In order to make them competent, they will be trained for enhancing their technical and marketing knowledge.
Feature that will help in serving the clients include staff friendliness, time value of money, licensed staffs and quality.
Personal information
Full name, Robert Geoffrey Conway
Gender- Male
Date of birth- 24/11/1992
Residential address- 57 Leicester Square, Alexander Heights
Marital status- Married
Total dependants-0
Electrical Contractors Ticket
Worked as high voltage technician in High energy services
Worked as an installer in Solar energy
Worked in Ipower solutions
First month: 36,190
UPcoming months: 24,970
Chris Ainsworth
41-47 Colin Street, West Perth 6005
0415253492
References
Mitchell Crummer
NHP Sales rep
0453123726
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