Titan Electric LLC | Application Preview
Titan Electric LLC is seeking government grants to enhance its operations and expand its reach. The funding will be allocated for upgrading tools and technology, acquiring a used company van, hiring a new employee, and investing in marketing and employee education.
The business aims to extend its services beyond the local community, ensuring affordable electrical work is accessible to all, regardless of financial status. By hiring new employees, Titan Electric plans to create a workforce skilled in trades, capable of handling more complex jobs efficiently. Training will focus on the latest technologies, safety standards, and state regulations.
The owner, an electrician with 26 years of experience and a local vocational school graduate, emphasizes the value of trade jobs and the work ethic instilled in him. He intends to provide similar opportunities for others entering the trade industry, especially as seasoned contractors retire. With a growing customer base, he seeks funding to support this expansion and contribute positively to the community.
In terms of competition, Titan Electric faces other established companies such as American Electric, Broad Street Electric, and Harmon Electric. However, its competitive advantage lies in being a small business focused on delivering quality work at lower costs, particularly for those in emergency situations. The company has built a reputation for timeliness and follow-up service, aiming to foster a positive work environment rather than prioritizing quantity over quality. Overall, the owner is committed to the growth of the business for the benefit of both the community and his family.
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General Information
Business Registration Number: 85-3635939
Location: Geneva, OH, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
Upgrades to current tools and technology, a new used company van, employment of new employee, advertisement and education.
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Business Plan
Expanding outside of the local community to be able to provide affordable electrical work to all people regardless of their financial status. Hiring of new employees to be able to create more trade trained employees, take on more jobs, and efficiently work on complex jobs. Training of new and current employees in the newest technologies of the ever changing electrical industry. Education of employees in safety and current codes of The State of Ohio. Advertisement with employee uniforms, yard signs, and "word of mouth". I have been an electrician 26 years. I graduated from a local vocational school and am proof that not all well paying jobs are the result of a college education. The trade industry installed in me a hard working work ethic, an opportunity to serve my community, and the ability to provide for my family. I would like to continue with my own business to provide the same opportunity to other people considering a trade job. I have worked for local contractors and as they retire and leave the industry I would like the to be able to step up and provide my expertise now. I am growing quickly and would like to be able to keep up with that growth, but require additional help to do so. I would appreciate the funding to be able to watch my small business grow into something the community as well as myself can be proud of.
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Self Identified Competition
American Electric Broad Street Electric ( owner retiring ) Harmon Electric I am small, but wanting to grow to be able to keep costs lower for those who require my services, but may not have the financial funds available, especially in emergency situations. I am already known for good quality work that is completed in a timely manner with follow up for any issues or problems. I am looking to do quality work and have a positive working environment for my company, instead of quantity that could compromise my reputation.
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