HVAC Business Plan [Sample Template]

Do you want to start a HVAC business and need to write a business plan? If YES, here is a detailed sample HVAC business plan template & feasibility report.

Starting a HVAC business can really be rewarding. This is because of the lucrative nature of the trade. Every day in the united states of America, as well as other parts of the world, more and more people have taken to the industry. It is however really vital that you are very optimistic to do this business, per adventure you contemplate to venture in.

After you are decided, then you may want to pay an expert to help you carry out some exhaustive research. After all that has been done, there is great need to draw up a business plan. Here is a sample plan to work with;

A Sample HVAC Business Plan Template

1. Industry Overview

The heating, ventilation and air conditioning (HVAC) industry is an industry that deals in heating system, ventilation, and air – conditioning of a facility or a space (automobile, plane, ships, trains et al).

The truth is that, heating, ventilation, and air-conditioning are interconnected, most especially when it comes to the need to provide conducive temperature in an indoor facility within reasonable installation, operation, and maintenance costs.

Basically, HVAC systems is designed to provide ventilation, reduce air infiltration, and maintain pressure relationships between spaces. The heating, ventilation and air conditioning (HVAC) industry is indeed a very large industry that covers operation and maintenance, system design and construction, equipment manufacturing and sales.

In order to maintain high standard and best practices, manufacturers in the HVAC industry are regulated by organizations such as HARDI, ASHRAE, SMACNA, ACCA, Uniform Mechanical Code, International Mechanical Code, and AMCA.

Just like most industries within the construction line of business, the Heating and Air-Conditioning Contractors industry has been recovering over the last five years. Within the stated period, there were appreciable increase in business activity and end user spending benefited business expansion plans and supported new enterprise in the industry, supporting the industry.

Going forward, the demand for heating, ventilation and air conditioning (HVAC) services is projected to rebound in the five years. As a matter of fact, with the growth in the real estate industry and the growing trend as regards energy – efficiency et al will definitely translate to growth in the heating, ventilation and air conditioning (HVAC) industry.

The Heating and Air-Conditioning Contractors industry is not dominated by any company. As a matter of fact, no company can boast of having more than 5.0% of the total annual revenue in the industry. The major players in the heating, ventilation and air conditioning (HVAC) industry are smaller firms that specialize in kinds of HVAC systems or dominates a certain location.

Similar to any other business, the demand for heating, ventilation and air conditioning services and products usually declined during recession period / economic downturn and this is due to the declining household spending and reduced demand from business clients.

As the economy grow, and income increases, there will be corresponding increase in the demand for heating, ventilation and air conditioning services and products.

The heating, ventilation and air conditioning (HVAC) industry is indeed a very large industry and pretty much thriving in all the parts of the world especially in developed countries such as United States of America, Canada, United Kingdom, Germany, Australia and Italy et al. As a matter of fact, there are no companies with a leading market share in the industry.

Statistics has it that in the United States of America alone, there are about 105,598 licensed and registered heating, ventilation and air conditioning (HVAC) related businesses responsible for employing about 437,894employees and the industry rakes in a whooping sum of $82bn annually with an annual growth rate projected at 4.0 percent

Over and above, the heating, ventilation and air conditioning (HVAC) related businesses all over the world are still enjoying good patronage particularly if they are well positioned and if they know how to reach out to their target market (businesses, government and household et al).

2. Executive Summary

Capstone® Engineering Services Ltd. is a standard and licensed HVAC retailing, servicing and maintenance company that will be located in will in Miami Beach, Florida – United States of America and we will cover other cities such as Green – acres City, Miami, Jacksonville, Clearwater, Tampa, Fort Lauderdale, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al.

We choose to operate in these cities because we know that our products and services will be in high demand due to the growing activities in the real estate / construction industry.

Capstone® Engineering Services Ltd offer services and products care services such as Air conditioning system installation (except window units), Air vent installation, Furnace conversions (i.e. from one fuel to another), Refrigeration system (e.g. commercial, industrial or scientific) installation,

Heating, ventilation and air conditioning (HVAC) contractors, Furnace humidifier installation, Natural gas fireplace installation, Duct work (e.g. cooling, dust collection, exhaust, heating and ventilation) installation, Ventilation equipment installation, Heating and ventilation system component (e.g. air registers, diffusers, and filters) installation et al.

We are well trained and equipped to service the market segments that require HVAC services. Although our intention of starting a Capstone® Engineering Services Ltd is to offer only the above stated services, but we will not close our doors to diversification (additional services) as long as it does not affect our core services.

We will offer both in – station and out – off station services. Our customers will have the options of choosing from our different packages – we have the plans to serve both individual clients (households) and corporate clients (industries and the government) as well which is why we designed various packages.

At Capstone® Engineering Services Ltd we are passionate in the pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to start our own HVAC business; we are in the industry to make a positive mark.

We are quite optimistic that our values and quality of service offering will help us drive our HVAC business to enviable heights and also help us attract the numbers of clients that will make the business highly profitable. We are a company that will be dedicated to establishing good business relationship with our clients giving them value for their money and reasons for them to purchase our products and hire our services over and over again.

We are quite aware that in order to become the number one choice in our city, we must continue to deliver quality services and that is exactly what we will do. We are open to the use of latest technology in the heating, ventilation and air conditioning (HVAC) industry.

No doubt our excellent customer service and the range of services we offer will position us to always welcome repeated customers and handle massive deals from both government agencies and construction giants. Our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Capstone® Engineering Services Ltd is owned and managed by Engr. Robert Downey and Family. Engr. R. Downey graduated from Illinois Institute of Technology, he studied Mechanical Engineering with bias in refrigerator and air – conditioning.

He has well over 15 years of hands on experience working with some of the leading brands in the heating, ventilation and air conditioning (HVAC) industry in the United States of America.

3. Our Products and Services

Capstone® Engineering Services Ltd is a standard and licensed HVAC retailing, servicing and Maintenance Company which will offer a wide range of services that revolves around the heating, ventilation and air conditioning (HVAC) industry and other complementary services.

We intend giving our customers every reason to always come back which is why we have customized our services. Basically, our services will involve us going out to services of clients’ needs. These are the services we will offer as a heating, ventilation and air conditioning (HVAC) company;

New construction HVAC installations
Existing structure HVAC installations (i.e. replacements)
HVAC maintenance and repairs
Refrigeration system installations, maintenance and repairs
Air conditioning system installation (except window units)
Air vent installation
Furnace conversions (i.e. from one fuel to another)
Refrigeration system (e.g. commercial, industrial or scientific) installation
Heating, ventilation and air conditioning (HVAC) contractors
Furnace humidifier installation
Natural gas fireplace installation
Duct work (e.g. cooling, dust collection, exhaust, heating and ventilation) installation
Ventilation equipment installation
Heating and ventilation system component (e.g. air registers, diffusers, and filters) installation

4. Our Mission and Vision Statement

Our Vision is to become the number one the heating, ventilation and air conditioning (HVAC) company in the whole of Miami Beach – Florida with active presence in major cities in the United States of America.
Our mission as a heating, ventilation and air conditioning (HVAC) company is to develop a highly successful, profitable all round HVAC business which provides quality services in our community and to become a standard for an ideal HVAC business not only in the State of Miami but also throughout the United States of America where we intend opening our operations and selling our franchise.

Our Business Structure

We are quite aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our heating, ventilation and air conditioning (HVAC) company on the right business foundation.

As a matter of fact, we are set out to build a heating, ventilation and air conditioning (HVAC) business that will be a standard for the heating, ventilation and air conditioning (HVAC) industry in the United States of America. We want to build a business of dedicated workforce who will go all the way to ensure that our customers are satisfied and they get value for their money.

In other to achieve this, we aware that it takes a business with the right employees and structure to achieve all what we have set to achieve, which is why will be putting structures and processes in place that will help us deliver excellent services and run the business on autopilot.

The success of our heating, ventilation and air conditioning (HVAC) business will be anchored on the team not on any individual. With the wide range of our service offerings, we are only expected to employ more than it is required to run a conventional heating, ventilation and air conditioning (HVAC) business.

Definitely, we will have various employees to man the various services offering of Capstone® Engineering Services Ltd. Capstone® Engineering Services Ltd will employ professionals and skilled people to occupy the following position;

Chief Executive Officer
Human Resource and Admin Manager
Accountant / Cashier
Marketing and Sales Executive
HVAC Technicians (6)
Client Service Executive
Truck / Van` Drivers

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
Responsible for fixing prices and signing business deals
Responsible for providing direction for the business
Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
Responsible for signing checks and documents on behalf of the company
Evaluates the success of the organization
Reports to the board

Admin and HR Manager

Responsible for overseeing the smooth running of HR and administrative tasks for the organization
Design job descriptions with KPI to drive performance management for clients
Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
Defines job positions for recruitment and managing interviewing process
Carries out staff induction for new team members
Responsible for training, evaluation and assessment of employees
Responsible for arranging travel, meetings and appointments
Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
Oversees the smooth running of the daily office activities.

Marketing and Sales Executive

Identifies, prioritize, and reach out to new clients, and business opportunities et al
Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects.
Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
Responsible for handling business research, market surveys and feasibility studies for clients
Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
Develops, executes and evaluates new plans for expanding increase sales
Documents all customer contact and information
Represents Capstone® Engineering Services Ltd in strategic meetings
Helps to increase sales and growth for Capstone® Engineering Services Ltd.

Accountant / Cashier

Responsible for preparing financial reports, budgets, and financial statements for the organization
Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
Responsible for financial forecasting and risks analysis.
Performs cash management, general ledger accounting, and financial reporting for the organization
Responsible for developing and managing financial systems and policies
Responsible for administering payrolls
Ensures compliance with taxation legislation
Handles all financial transactions for Capstone® Engineering Services Ltd
Serves as internal auditor for Capstone® Engineering Services Ltd.

Client Service Executive

Welcomes clients and visitors by greeting them in person or on the telephone; answering or directing inquiries.
Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
Manages administrative duties assigned by the manager in an effective and timely manner
Consistently stays abreast of any new information on the organizations’ products and, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

HVAC Technicians (6):

Responsible for handling core services such as Air conditioning system installation (except window units), Air vent installation, Furnace conversions (i.e. from one fuel to another), Refrigeration system (e.g. commercial, industrial or scientific) installation, Heating, ventilation and air conditioning (HVAC) services, Furnace humidifier installation, Natural gas fireplace installation, Duct work (e.g. cooling, dust collection, exhaust, heating and ventilation) installation, Ventilation equipment installation, Heating and ventilation system component (e.g. air registers, diffusers, and filters) installation et al.
Handles any other duty as assigned by the manager,

Truck / Van Driver:

Responsible for transporting equipment, equipment and workers to project site
Runs errand for the organization
Handles any other duty as assigned by the manager,

6. SWOT Analysis

Heating, ventilation and air conditioning (HVAC) business is one of the many businesses that can easily generate sales with little stress as long as they are well positioned and equipped to carry out their services. We are building a standard heating, ventilation and air conditioning (HVAC) business with variety of services which is why we have decided to subject our business idea (company) to SWOT Analysis.

Ordinarily we can successfully run a normal heating, ventilation and air conditioning (HVAC) business without the stress of going through the required protocol of setting up a new business including writing a detailed business plan, but because of the nature of the kind of heating, ventilation and air conditioning (HVAC) business we want to establish, we don’t have any option other than to follow due process.

We hired the services of Mr. Coleman Carrington, an HR and Business consultant with bias in startups to help us conduct SWOT analysis for our company and he did a pretty job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Capstone® Engineering Services Ltd;

Strength:

Capstone® Engineering Services Ltd is centrally located in a thriving real estate / construction location in Miami Beach – Florida; our location is in fact one of our major strength. Another strength that counts for us is the power of our team; our workforce and management.

We have a team that are dedicated and well – groomed in the heating, ventilation and air conditioning (HVAC) industry.

Weakness:

Capstone® Engineering Services Ltd is a new business which is owned by an individual (family), and we may not have the financial muscle to sustain the kind of publicity we want to give our business and also to attract some of the highly experienced technicians in the heating, ventilation and air conditioning (HVAC) industry.

Opportunities:

We are centrally located in one of the busiest area in Miami – Beach, Florida and we are open to all the available opportunities that the city has to offer. Our business concept also positioned us to be a one stop shop in the heating, ventilation and air conditioning (HVAC) industry.

Threat:

Some of the threats that is likely going to confront Capstone® Engineering Services Ltd is unfavorable government policies, downturn in the economy which is likely going to affect consumers spending and of course emergence of new competitors within the same location where ours is located.

7. MARKET ANALYSIS

Market Trends

If you are conversant with the recent trends in the real estate / construction industry, you should have noticed that in recent building construction the design, installation, and control systems of these functions are integrated into one or more HVAC systems. This goes to show that the HVAC industry is indeed playing a major role in the real estate / construction industry.

The heating, ventilation and air conditioning (HVAC) market is a market that is dependent on loads of factors. The fact that it helps achieve the desired indoor temperature and also help in saving energy gives room for people to patronize the services.

Of course the heating, ventilation and air conditioning (HVAC) business responds to the increase in household spending and improvement in the economy which is why it trendy to find the heating, ventilation and air conditioning (HVAC) industry businesses located around areas where construction, renovation projects and real estate business is truly thriving.

Another common trend over the years in the heating, ventilation and air conditioning (HVAC) industry is that it is quite difficult to find a company dominating the industry; it is an industry that is open to as many people that has what it takes to favorably compete in the industry.

8. Our Target Market

Before choosing a location for our heating, ventilation and air conditioning (HVAC) business, we conducted our feasibility studies and market survey and we were able to identify those who will benefit greatly from our service offerings.

Basically those who will benefit from our service offerings are households, facility managers, real estate companies, constructions companies and government et al. They cut across various sectors of the economy.

The demographic component of those who need the services of a heating, ventilation and air conditioning (HVAC) services spreads across the public sector, the organized private sector, and individuals from different strata of the society and from all walks of life but most importantly every one who can afford to rent, lease or purchase an apartment / facility et al no matter their income level.

Below is a list of the people and organizations that our heating, ventilation and air conditioning (HVAC) industry services is designed for;

The public sector; government ministries, agencies and parastatals.
Organized private sector (construction companies and real estate companies)
Households
Facility managers
Restaurants
Hotels and Motels
Residential areas
Religious Centers
Warehouses
Educational Facilities
Lounges
Casinos
Medical facility
Bars

Our Competitive Advantage

Our competitive edge is that Capstone® Engineering Services Ltd is centrally located in a thriving real estate / construction location in Miami Beach – Florida; our location is in fact one of our major strength. Another strength that counts for us is the power of our team; our workforce and management. We have a team that are dedicated and well – groomed in the heating, ventilation and air conditioning (HVAC) industry.

We can confidently say that the location of Capstone® Engineering Services Ltd will definitely count as a positive for us amongst any competitor that might start a heating, ventilation and air conditioning (HVAC) business or any other related business in same location where ours is located.

For the time being, Capstone® Engineering Services Ltd has no real competitors that can compete with the quality of services we offer and our business offerings et al. Our customer service will be customized to meet the needs of all our customers.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups heating, ventilation and air conditioning (HVAC) business and other related businesses in the United States) in the industry.

It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

Sources of Income

Capstone® Engineering Services Ltd is established with the aim of maximizing profits in the heating, ventilation and air conditioning (HVAC) industry and we are going to go all the way out to ensure that we do all it takes to attract both individual clients and corporate clients on a regular basis.

Capstone® Engineering Services Ltd will generate income by offering the following services;

New construction HVAC installations
Existing structure HVAC installations (i.e. replacements)
HVAC maintenance and repairs
Refrigeration system installations, maintenance and repairs
Air conditioning system installation (except window units)
Air vent installation
Furnace conversions (i.e. from one fuel to another)
Refrigeration system (e.g. commercial, industrial or scientific) installation
Heating, ventilation and air conditioning (HVAC) contractors
Furnace humidifier installation
Natural gas fireplace installation
Duct work (e.g. cooling, dust collection, exhaust, heating and ventilation) installation
Ventilation equipment installation
Heating and ventilation system component (e.g. air registers, diffusers, and filters) installation

10. Sales Forecast

One thing is certain, there would always be corporate organization and individual clients who would need the services of heating, ventilation and air conditioning (HVAC) business.

We are well positioned to take on the available market in Miami – Beach, Florida and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our heating, ventilation and air conditioning (HVAC) business and our clientele base.

We have been able to critically examine the heating, ventilation and air conditioning (HVAC) industry – market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection are based on information gathered on the field and some assumptions that are peculiar to similar startups in Miami – Beach, Florida.

Below is the sales projection for Capstone® Engineering Services Ltd, it is based on the location of our business and of course the wide range of related services that we will be offering;

First Year-: $250,000
Second Year-: $550,000
Third Year-: $1,000,000

N.B: This projection is done based on what is obtainable in the pressure washing and industrial cleaning industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

Marketing Strategy and Sales Strategy

The marketing strategy for Capstone® Engineering Services Ltd is going to be driven basically by excellent customers service and quality service delivery. We will ensure that we build a loyal customer base. We want to drive sales via the output of our jobs and via referral from our satisfied customers.

We are quite aware of how satisfied customers drive business growth especially businesses like heating, ventilation and air conditioning (HVAC) business and related services.

Capstone® Engineering Services Ltd is a business that is strategically located and we are going to maximize the opportunities that is available which is why we spend more to locate the business in a location that will be visible and accessible to our target market.

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Capstone® Engineering Services Ltd.

Our goal is to grow Capstone® Engineering Services Ltd to become the leading heating, ventilation and air conditioning (HVAC) company in Miami – Beach, Florida which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with in the heating, ventilation and air conditioning (HVAC) industry.

Capstone® Engineering Services Ltd is set to make use of the following marketing and sales strategies to attract clients;

Introduce our heating, ventilation and air conditioning (HVAC) business by sending introductory letters alongside our brochure to corporate organizations, households and key stake holders in Miami – Beach, Florida.
Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
Use friends and family to spread word about our business
Post information about Capstone® Engineering Services Ltd and the services we offer on bulletin boards in places like schools, libraries, and local coffee shops et al
Placing a small or classified advertisement in the newspaper, or local publication about Capstone® Engineering Services Ltd and the services we offer
Leverage on referral networks such as agencies that will attract clients who would need our customized services
Advertise Capstone® Engineering Services Ltd in relevant magazines, newspapers, TV stations, and radio station.
Attend relevant expos, seminars, and business fairs et al to market our services
Engage in direct marketing approach
Encourage the use of Word of mouth marketing from loyal and satisfied customers
Join local chambers of commerce and industry to market our services.

11. Publicity and Advertising Strategy

Capstone® Engineering Services Ltd is set to create a standard for heating, ventilation and air conditioning (HVAC) business in Miami – Beach, Florida and throughout the United States of America which is why we will go all the way to adopt and apply best practices to promote our business. Good enough there is no hard and fast rule on how to advertise or heating, ventilation and air conditioning (HVAC) business.

We will ensure that we leverage on all conventional and non – conventional publicity and advertising technique to promote our heating, ventilation and air conditioning (HVAC) business. Here are the platforms we intend leveraging on to promote and advertise Capstone® Engineering Services Ltd;

Encourage our loyal customers to help us use Word of Mouth mode of advertisement (referrals)
Advertise our heating, ventilation and air conditioning (HVAC) business in relevant magazines, local newspaper, local TV stations and local radio station
Promote our business online via our official website
List our business on local directories (yellow pages)
Sponsor relevant community programs
Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand
Install our Bill Boards on strategic locations
Leverage Direct coupon mailing approach
Engage in road show from time to time in target communities
Distribute our fliers and handbills in target areas such as construction sites, residential estates and business districts et al

12. Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the heating, ventilation and air conditioning (HVAC) industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than our competitors are offering in Miami – Beach, Florida.

Be that as it may, we have put plans in place to offer discount services once in a while and also to reward our loyal customers especially when they refer clients to us.

Payment Options

At Capstone® Engineering Services Ltd, our payment policy will be all inclusive because we are quite aware that different clients would prefer different payment options as it suits them.

Here are the payment options that we will make available to our clients;

Payment by via bank transfer
Payment via online bank transfer
Payment via check
Payment via bank draft
Payment via mobile money
Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

13. Startup Expenditure (Budget)

We have been able to pull cash that will be enough for us to successfully launch a standard heating, ventilation and air conditioning (HVAC) company in Miami – Beach, Florida, US. These are the key areas where we will spend our start – up capital on;

The Total Fee for Registering the Business in Miami – Beach, Florida – $750.
Legal expenses for obtaining licenses and permits – $1,500.
Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
Cost for hiring Business Consultant – $2,000.
Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
Cost of accounting software, CRM software and Payroll Software – $3,000
Cost for leasing facility for our corporate office and store – $70,000.
Cost for facility remodeling – $50,000.
Other start-up expenses including stationery – $1000
Phone and utility deposits – ($3,500).
Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
The cost for Start-up inventory – $15,000
Cost for equipment (cash register, security, ventilation, signage) – $13,750
Cost of heating, ventilation and air conditioning (HVAC) tools – $50,000
The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, tables and chairs et al): $4,000.
The cost of Launching our official Website: $600
The cost for our grand opening party: $1,500
Miscellaneous: $5,000

We would need an estimate of $250,000 to successfully launch our heating, ventilation and air conditioning (HVAC) business in Miami – Beach, Florida, US.

Generating Funding / Startup Capstone® Engineering Services Ltd

Capstone® Engineering Services Ltd is a business that will be owned and managed by Engr. Robert Downey and Family. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

Generate part of the start – up capital from personal savings and sale of his stocks
Generate part of the start – up capital from friends and other extended family members
Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $100,000 (Personal savings $70,000 and soft loan from family members $30,000) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account

14. Sustainability and Expansion Strategy

Part of the plans we have in place to sustain Capstone® Engineering Services Ltd is to ensure that we continue to deliver quality services, improvise on how to do things faster and cheaper. We are not going to relent in providing conducive environment for our workers and also the required trainings that will help them deliver excellent services at all times.

From our findings, another factor that kills new business is financial leakages. In order to plug financial leakages, the management of Capstone® Engineering Services Ltd adopt the use of payment machine and accounting software to run the business.

We are quite aware that our customers are key component to the growth and survival of our business hence we are going to continuously engage them to give us ideas on how to serve them better. We will not waste time in adopting new technology, best practices and diversifying our services; expand our product and service offerings once the need arises.

Our key sustainability and expansion strategy is to ensure that we only hire competent and technically sound employees create a conducive working environment and employee benefits for our staff members.

We know that if we implement our business strategies, we will grow our recording studio business beyond Los Angeles – California to other states in the U.S in record time.

Check List / Milestone

Business Name Availability Check:>Completed
Business Registration: Completed
Opening of Corporate Bank Accounts: Completed
Securing Point of Sales (POS) Machines: Completed
Opening Mobile Money Accounts: Completed
Opening Online Payment Platforms: Completed
Application and Obtaining Tax Payer’s ID: In Progress
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
Acquiring facility and remodeling the facility: In Progress
Conducting Feasibility Studies: Completed
Generating capital from family members: Completed
Applications for Loan from the bank: In Progress
Writing of Business Plan: Completed
Drafting of Employee’s Handbook: Completed
Drafting of Contract Documents and other relevant Legal Documents: In Progress
Design of The Company’s Logo: Completed
Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
Recruitment of employees: In Progress
Purchase of the Needed pressure washing machines and industrial cleaning equipment, electronic appliances, office appliances and bar accessories: In progress
Creating Official Website for the Company: Completed
Creating Awareness for the business both online and in the neighborhood: In Progress
Health and Safety and Fire Safety Arrangement (License): Secured
Opening party / launching party planning: In Progress
Establishing business relationship with vendors – suppliers of all our needed cleaning accessories and supplies et al: In Progress