Electrician business plan template

Download this electrician business plan template in PDF or Word format, or tailor it to your project directly in our business plan software.

Discover our electrician business plan template

Our electrician business plan template gives you the structure to write a professional plan

Not accustomed to writing business plans? Our electrician business template will turn a typically challenging process into a total breeze.

Modelled on a complete business plan of an electricial business in Normandy, our template features both the financial forecast and the written part that presents the project, its team, the local market and the business strategy implemented by the management.

Cast your eyes on this template to achieve a better understanding of what your bank and investors would like to see, so that you can create a business plan that meets their expectations.

electrician businesss plan template
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How to use this electrician business plan template

Edit the electrician business plan template online, or download it

There are 3 ways to use this template:

  • Edit it online: you can adapt this template to your business idea by changing the text or the financial forecast directly in our business planning software
  • Download in PDF: if you're just after a little inspiration, you can download the electrician business plan template in PDF to read over it
  • Download in Word format: want to edit your plan on Word? Simply export the electrician business plan template to Ms Word (.docx) format
online editor for electrician business plan template

Electrician shop business plan template content

This template includes a complete electrician business plan example, with a financial forecast and the following sections:

  1. Executive summary: the executive summary gives the reader a clear and concise overview of your business idea
  2. Company: this section lays out the structure of your business, including its location, management team and legal form
  3. Products and services: here, you'll give an overview of the services or products offered by the company
  4. Market analysis: the market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)
  5. Strategy: this section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way
  6. Operations: this step lays out the company's operational organisation, including the recruitment plan
  7. Financial plan: the financial plan includes a table of sources & uses (initial funding plan), and complete financial statements (P&L, balance sheet and cash flow statements).
  8. Appendices: this part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).
cover page and table of contents for the electrician business plan template by The Business Plan Shop
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Executive summary of the electrician's business plan

The executive summary gives the reader a clear and concise overview of your business idea.

Our electrician business plan example's executive summary is formed of the following subsections:

  1. Business overview: in this subsection, we outline who the electrician founders are, what legal form they've chosen for the business, and the rationale behind the choice of their location
  2. Market overview: in this subsection, we summarize the conclusions of the market analysis performed by the electricial business' owners and explain who they aim to target (homeowners, tenants with repair needs etc.)
  3. Financial highlights: in this subsection, we give an overview of the forecasted financial performance of the electrician over the first 3 years of operation
  4. Our ask: in this subsection, we outline the amount of financing required to start the electrician and how it's going to be funded (the founders are seeking a bank loan to start their electricial business)
executive summary for electrical company business plan sample

Company overview included in our electrician business plan sample

This section lays out the structure of your business, including its location, management team and legal form.

Our electrician business plan template's company section is formed of the following subsections:

  1. Structure & Ownership: in this subsection, we outline who the electrician's shareholders are and what legal form they've chosen for the business
  2. Location: in this subsection, we present the area surrounding the location chosen for the business and the layout and main features of the premises
  3. Management Team: in this subsection, we give an overview of the background of each of the electrician's founders, explain how they met and why they decided to start a company together
company overview included in electrician business plan template
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Products and services offered by the electrician

The products and services section is where you will present the different types services offered by your electricial business.

In our electrician business plan template products and services section, we cover:

  • Repair services: a choice between electrical installation repairs or emergency repairs (which are available 24/7)
  • Renovation services: mainly for outdated electrical installations, helping bring them up to regulatory standards
  • Installation services: for new builds that require significant electrical work done such as HVAC (heating, ventilation and air conditioning) or installing smoke detectors
product and services description of the electrician business plan example

Market analysis for the opening of the electricial business

The market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.).

Our electrician business plan example's market analysis section is formed of the following subsections:

  1. Demographics and Segmentation: in this subsection, we explore the market in depth. We look at the supply and demand sides both at the national and local level, analyse the hot trends perceived by the founders, and the key statistics that will help the founders build their positioning
  2. Target market: in this subsection, our founders explain who they view as their ideal customers (homeowners, tenants with repair needs etc.) and why they chose to target them
  3. Competition: in this subsection, we take a look at the direct (electricians nearby) and indirect (other ways of carrying out repairs) local competition to ensure we have a differentiated positioning and that the market is large enough to accommodate the arrival of new electricial business
  4. Regulation: in this subsection, we give an overview of the main regulation applicable to our electricial business
market analysis section of the electrical company business plan template
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Setting the strategy for our electrician

This section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way.

Our electrician business plan template strategy section is formed of the following subsections:

  1. Pricing: in this subsection, we explain how we set the prices of our main categories of services (repair, renovation, installation) and the rationale behind our choice
  2. Marketing plan: in this subsection, we explain what action we'll put in place to build awareness and loyalty among our customers
  3. Milestones: in this subsection, we give an overview of the main goals we set for ourselves for the next 3 years
  4. Risks and Mittigants: in this subsection, we perform an assessment of the medium and long-term risks that could jeopardize the financial viability of our electrical business and outline how we intend to mitigate them
electrician business plan example: stragtegy section

Operations section of the electrician business plan template

This part lays out the company's operational organisation, including the recruitment plan.

Our electrician business plan example's operations section is formed of the following subsections:

  1. Personnel plan: in this subsection, we explain what our opening hours will be and explain the responsibilities of each of staff member in our electricial business
  2. Key assets and IP: in this subsection, we list the assets and intellectual property rights which are critical to our business operations and explain how we will secure and protect each of these
  3. Suppliers: in this subsection, we give an overview of the main suppliers we will use our what commercial terms have been negotiated with them
electrician business plan template: operations section
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Financial plan included in our electrician business plan template

This section presents the expected financial performance of the electrician over the next 3 years.

Our electrician business plan example's financial plan is formed of the following subsections:

  1. Start-up funding: in this subsection, we list the cost of each item required to launch the electricial business
  2. Important assumptions: in this subsection, we explain the methodology and the main assumptions used to build the electricial business's financial forecast
  3. Sales forecast: in this subsection, we detail the expected revenues and growth rate for our electricial business in the coming years
  4. Cost structure: in this subsection, we list all the expenses required for our electricial business to operate smoothly
  5. Projected Profit & Loss statement: in this subsection, we analyse our forecasted P&L and comment on the expected profitability of our electricial business over the next 3 years
  6. Projected cash flow statement: in this subsection, we analyse the expected cash generation of the electricial business
  7. Projected balance sheet: in this section we give an analysis of the liquidity and solvability implied from our balance sheet
electrician business plan forecasted P&L

Appendices of the electricial business plan template

This part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).

Our electrician business plan template's appendices include:

  1. A maturity profile chart showing the principal repayments of their loans over the next 3 years
  2. A monthly cash flow forecast: showing how much cash is being generated or consumed each month over the first 3 years of operations
electrician business plan template: monthly cash flow forecast

Electrician business plan template sample

Executive Summary

Business Overview

Elec Eco Repair will be an installation, renovation, and electrical repair company located at 25 Rue des Roquemonts, in the city of Caen. The business will be situated close to major roads, to facilitate easy travel.

We will specialise in energy-efficient renovations by offering regulated electrical radiators, thermodynamic water heaters, and much more. This will likely bring long-term benefits to homes within Caen.

Our industry accreditation means that we can guarantee our customers a high-quality service. This accreditation gives us credibility because it ensures that our installation complies with regulatory standards. Our customers will also benefit from subsidies provided by the government.

We will set up a limited company with a total share capital of €8,000. The business will be managed by Victor D. and Marie A.

Our managers both have complementary experience. Victor worked as an electrician for a large company for nearly 10 years. Marie worked at an electrical installation company, providing energy-efficient renovations for 8 years. 

Market Overview

National Market

Turnover of the sector

According to the CAPEB (Confederation of Small Construction Companies), small construction companies generated turnover worth €84.3 billion in 2019 - this represented 64% of the overall turnover that year for the construction industry.

Companies with fewer than 10 employees carried out most of the housing and non-housing work in 2017.

Non-housing work generally includes work for public buildings or businesses such as hotels, offices, shops, and restaurants.

Housing work includes the construction of new properties or renovations. In 2018, 43% of work was carried out on new builds, while the 57% remaining were for improvement or maintenance.

Number of companies, workforce, and employment

In 2018, there were 555,261 small businesses in the construction sector, with 98% of them employing fewer than 20 employees. Altogether, these businesses employed a total of 640,621 employees - representing 59% of the overall number of workers in the construction sector.

Small companies trained 55,370 apprentices in 2019, representing 79% of all apprentices in the construction sector.

In Europe, 97% of companies during the same year had fewer than 20 employees and they accounted for 80% of all construction turnover in the Europe.

Local Market

Figures for Normandy

According to The Regional Economic Unit for Construction, Normandy's construction sector was worth €10 billion in 2018 - a 4% growth in comparison to 2017 figures. The sector accounted for 6% of Normandy's total economy at the time.

There were 28,644 construction businesses in the region:

  • 30% were companies employing between 1 and 9 employees 
  • 64% were self-employed establishments
  • 6% were companies employing more than 10 employees

The CAPEB report also indicates that companies employing fewer than 10 employees generated turnover worth €4.3 million in 2017, i.e. 43% of the regional turnover. There were 2,239 new construction companies created in 2017.

The counties of Seine-Maritime and Calvados accounted for the majority of turnover in the region in 2017. 

Figures for Calvados

The county of Calvados generated a turnover of €2.2 billion in 2017 and accounted for 21.2% of the region's turnover in the building and public works sector. 7,164 such businesses were operating in the region.

With the majority of businesses employing fewer than 10 employees (28%) and micro-businesses without employees (67%), the Calvados sector was predominantly occupied by small companies.

Financial Highlights

We expect to be profitable in our first year of activity with sales of €157,200 and an EBITDA of €6,112 (with a 3.89% margin) for year 1.

We expect to be able to continue to grow our business to reach €198,080 in sales and €15,952 in EBITDA (with a 8.05% margin) by year 3.

Operating cash flow generation is expected to be positive for the entire duration of the plan, and the company should be adequately capitalised to enable us to meet our loan repayments while retaining sufficient liquidity to deal with any unforeseen circumstances.

Our Ask

We estimate that we need a total of €28,000 to open our electrician.

Our partner will contribute €18,000 (64.2% of the total amount).

We would like to obtain a bank loan of €10,000 to complete this amount.

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Electrician Shop Business Plan Template FAQ

What is a electrician business plan and do I need one?

A electrician business plan is a written document that sets out the commercial, operational and financial objectives of the company over the next 3 to 5 years.

It consists of two main parts:

  • A written part that presents, in detail, your electrician business, the team, your strategy, and your medium-term objectives.
  • A financial forecast that highlights the expected profitability of the electrician and the initial funding requirements.

The lack of business planning is one of the main reasons why more than 50% of startups fail within 5 years. If you're starting a electrician, writing a business plan is a must-have in order to reduce the risk of failure of your project.

Business plans are also required by most lenders and investors in order to secure financing, therefore a business plan is also highly recommended if you're seeking a loan or equity investment for your electrician.

How do I write a business plan for a electricial business and is it difficult?

Writing a electrician business plan without The Business Plan Shop can be both error-prone and time-consuming - whether you're new to entrepreneurship or experienced:

  • You'll need to research the structure of a business plan, what to include in each section, and what key elements investors and lenders expect to see
  • You may encounter writer's block (especially if it's the first time you're writing a business plan for your electrical company)
  • You'll need to create a financial forecast on a spreadsheet which requires a solid understanding of accounting and financial modelling in order to be done without error
  • You'll need to spend hours formatting financial data on Excel or Sheets before it's ready to integrate into your business plan
  • Any updates to your electrician business plan or financial forecast will need to be done manually

Luckily for you, The Business Plan Shop's online platform and electrician business plan template guide you through every stage of writing a business plan, so that you can spend more time managing and growing your business instead.

Our editor follows a best-in-class structure for professional business plans. Each section and subsection includes examples and instructions to help you, while our business plan templates provide further inspiration if you're stuck.

Our financial forecasting software helps you create a forecast and integrate it into your business plan with ease. Anytime you update your data, your business plan automatically updates.

And with our forecasting software all the calculations are done for you, without errors.

What is the budget for a electricial business and how much does it cost to get started?

The budget to start and run an electricial business will depend on the exact concept and location.

A small local electrician using their own assets (property or vehicle) rather than renting out premises will help reduce costs considerably.

A large electrical business operating in the heart of London would require much greater startup costs than one operating in Newcastle due to higher overhead costs (advertising, insurance, rent).

As an example, in our electrician business plan template the total initial funding requirement amounted to €28,000, with the founders contributing €18,000.

In order to assess the exact budget for your electrician idea, you need to do a financial forecast using a financial projection tool such as the one we offer.

Is The Business Plan Shop the best electrician business plan template for me?

The package we offer at The Business Plan Shop goes way beyond a simple blank template you need to fill. With our platform you get:

  • Access to one of the best business plan software on the market
  • Access to our electrician business plan template which contains a complete example of a written business plan and financial forecast to start an electricial business
  • Access to our entire business plan templates library - giving you dozens of examples to take inspiration from
  • Access to our financial planning and analysis platform so that you can track the actual performance of your business against what you had planned in your business plan and re-plan easily

But you shouldn't take our word for it: try our solution for free and make your own opinion!

How does the free trial of The Business Plan Shop work?

The free trial enables you to try the software for free during 7 days in order to verify that it meets your requirements before buying.

Some features are limited during the free trial, the main limits are:

  • You can only create one business plan
  • The financials of the first year are visible, but data for other years are hidden
  • You can export your plan in PDF but not in Word or CSV
  • No access to our business plan templates

You can create your account and start your free trial here.

How much does The Business Plan Shop’s electrician business plan template cost?

Access to our template is included with all our paid subscriptions.

Please visit our pricing page to learn about this in more detail.

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