How To Start a Electrical Contractor Business ($420K a year)

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How much does it Cost:
Cargo Van: $20K
Equipment and Inventory: $5,000
Insurance: $1,000
START UP COST: $26,000

HOW MUCH CAN WE MAKE/CASHFLOW
$420,000 a year!
Small Jobs: $200-$500 per job
Large Jobs: $2,000 - $6,000 ($3,500 average).
Simulation:
- 20 Small Jobs a week (4 a day) = $7,000 a month = $28,000
- 2 Large Jobs a month = $7,000 a month
$35,000 a month = $420,000 a year!

TOTAL: $277,000/year

CASHFLOW:
Profit Margin with Equipment/Etc. = 40% (No employees)
$277,000 gross revenue = $110,800 profit.

Positives of this business:
Profitable
Always needed. TRADES

Think of ways it will fail:
JOBS – Local Marketing, Create Website with SEO, Network with Home Builders, Home Remodelers, Real Estate Investors, Home Flippers, Property Managers, Facebook, Facebook Groups, Door to Door
Quality: Need to be experienced
Showing up on time: Scheduling being organized.
Employees: Start thinking of how you can find good help.

Legal Up
LLC
Insurance
Customer Agreement
#electrical #electricalengineering #electricalwork #contractor #construction #contractors #constructionlife

[mysticmac]

Great video, master electrician here in Utah getting ready to make the jump!!! Thanks for the insight brother

[obesedog]

Hey I can tell you’re a really motivated content creator and business owner! Really covering all your bases with these videos that you’re creating! Much respect to you from Seattle brother keep grinding 🎉🎉

[E-ticket]

Starting my own electrical buissiness now 29 years in the trade Line side electric in SoCal

[thomascalabro]

If you were to do four jobs a day charging an average of 250 a job that's $1, 000 a day and when you consider there's 260 working days if you do that every day that's $260, 000

[FENTANYLJET]

it's funny how you said starting this business TODAY! i giggled because you need trade school hours and on-site experience in most states. I love it because you actually have to put in the grind. you can't just start it.

[ivosssk]

Thank you for the great video! Should I get an LLC before starting the electrical business before making revenue?

[bsk]

4 jobs at $250 a day, is not $250 profit, that’s sales. You need to bill out probably $2, 000 of total work to make that $1, 000 of profit. So $420, 000 would be solely based off sales, not profit. My company will do 1.5 mill in sales and I’m lucky to get paid $100, 000 after all overhead is deducted.

[VworksArt]

Have you ever been concerned about bringing home pests or bed bugs?

[gregm]

4 jobs a day? line that up like its no big deal? lucky these days to get that unless you live in the bigger cities and the rich areas.

[ElectricalServiceSolutionLLC]

Interesting How about a semi -Retired Electrician Lic# EC _13006885 been shut down to 1-van all tools and a stuffed storage center of materials