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1.2 Highlights

The following are some highlights from this business plan for Central Plumbing and Heating:

  1. Felix Gonzalez and Michael Lombardi are looking to start an plumbing contracting firm called Central Plumbing and Heating. They have more than 50 years of combined experience in this line of work in the Mecklenburg County, North Carolina target market.
  2. The company will be located in downtown Charlotte with plenty of residential and commercial structures presenting Felix and Michael with plenty of business opportunities for securing repair and remodeling work relating to the plumbing and heating.
  3. The overall residential population and labor force in the target market grew by 100.6% and 83.9% respectively between 1990 and 2015. The poverty rate is 15.2%.
  4. 62.7% of all the households in the target market make less than $75k per year.
  5. The largest occupations in the target market is the Management, Business, Science & Arts occupation - representing 41.6% of the all occupations in Mecklenburg County.
  6. 75.9% of the housing stock of the target market is composed of homes whose value is less than 300k.
  7. Almost 32% of the target market population of the target market has a high school education or lower, and another 42% have achieved either a bachelors or graduate degree.
  8. About 70% of the population of the target market are between the ages of 18 and 65.
  9. The retail trade, finance, insurance, real estate, health care and professional services industries combined employ 51% of all workers in the Meaklenburg County.
  10. The overall labor force in Mecklenburg County, has remained grown steadily from 350k people in 1998 to almost 575,000 in 2015. The level of unemployment has been declining steadily during the past 5 years and is currently below 5%.
  11. Almost 67% of the total housing stock of Mecklenburg County is composed of 1 unit structures.
  12. 79.2% of all homes in Mecklenburg County were built before 1979 reflecting an aging housing stock.
  13. Approximately 90% of all homeowners moved into their homes after 1990 in Mecklenburg County.
  14. Homes with mortgages in the target market are 80% of the total housing stock.
  15. There are 244 small plumbing contracting firms in Mecklenburg County employing a total of 4,190 employees averaging approximately 17 employees for each establishment.
  16. The annual payroll for the average employee in the electrical contracting business in Cuyahoga County is $49,915.
  17. 50% of all electrical contracting firms in the County employ less than 4 people.
  18. Sales projections for the first three years in business are $286,000, $325,000 and $375,000.
  19. Felix and Michael will be paying themselves a modest salary of $58,000, $65,000 and $72,000 each, for first three years of operations.
  20. As business grows Central Plumbing and Heating will look to hire one administrative staff and later look to add sub-contractor for larger jobs.
  21. Felix and Michael will be contributing $40,000 each toward the total estimated start up costs of $137,700
  22. The company will be applying for a 4 year term loan in the amount of $57,700.
  23. Operating Income is projected to be $75,833, $97,612 and $123,423 representing margins of 26.2%, 30% and 32.9% of sales for 2015, 2016 and 2017 respectively.
  24. The debt to equity ratio is projected to be 0.36, 0.16 and 0.06 for each of the first three years of operations.
  25. Central Plumbing and Heating is looking to open its doors for business by 01/01/2015.

Quick Links:

  1. Go to the Corresponding Questionnaire section for this industry.

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