Anderson & Company Electrical Services LLC | Application Preview
Anderson & Company Electrical Services LLC is seeking government grants to support their business expansion plans. The funds would be allocated as follows: 30% for training and hiring, 15% for research and development, 15% for inventory, and 40% for equipment. The business aims to hire one full-time employee and two part-time workers, alongside purchasing additional insurances and a new work vehicle.
The company's growth plan includes increasing its workforce to 6-10 employees and operating 4-5 service trucks five days a week. A key initiative is to establish an apprenticeship program for underprivileged youth, focusing on quality service and effective communication to strengthen the local workforce.
The application argues for funding approval by highlighting a significant market need. Many homes in the region have outdated electrical panels over 30 years old, necessitating upgrades before they can be sold. With a population of 3 million in Northern Virginia and a substantial number of homes due for these upgrades, the company anticipates exponential growth. With adequate funding, they project a threefold increase in revenue.
In terms of competition, Anderson & Company identifies Michael and Sons as the largest and most expensive electrical contractor in Northern Virginia, pointing out how many customers have been overcharged. Their competitive advantage lies in providing fair pricing without local markups, treating every client equally, and focusing on long-term customer relationships. The company specializes in updating aging electrical systems, positioning itself as a more affordable and customer-friendly alternative in the market.
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General Information
Business Registration Number: Anderson & Company Electrical Services LLC
Location: Woodbridge, VA, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
We plan to spend these funds on training and hiring 30%, research and development 15%, inventory 15%, and equipment 40%. We would like to hire on one full-time and two part-time employees with the purchase of additional insurances and additional work vehicle to expand the business.
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Business Plan
I plan to have 6-10 employees with 4-5 service trucks running 5 days a week. We want to develop and open an apprenticeship program for underprivileged youth in the area. Through amazing and affordable servicing alongside proper communication and training we plan to revitalize the workforce. Little known fact, any home with a electrical panel that is more than 30 years old is outdated and required to be changed prior to the selling of the home. There are 3 million people living in Northern Virginia currently and half as many homes in the age-appropriate range for these panel upgrades. With the growing need for electrical power throughout homes the foreseen growth of my company is exponential. With the proper funding to acquire the proper team we could easily increase the company's revenue threefold.
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Self Identified Competition
Michael and son's is the largest electrical contractor in the Northern Virginia area and by far the most expensive. Over the years I've witnessed so many of my customers that have been price gouged by this large company, creating a solid space for the growth of smaller companies like mine. I could continue about the other competitors in my field but with Michael and sons being the largest of them all of a consider that they are my top three competitors all in one. I provide services at cost that are effective to the job and respectful to the client as well. We do not mark up pricing by locality or potential wealth. Every client is a client and every client should be treated with equal respect. Electrical wiring is essentially the nervous system of the home on the residential side of things we revitalize electrical systems that were previously installed over 30 years ago. While most contractors in the area are setting prices as high as possible to make the most on one job as they can we pride ourselves in returning to these customers and continuing to provide them with services throughout their home owning experience.
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Contact Applicant
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