sole proprietorship: luke nugent. business description products/services plumbing and drain cleaning...
TRANSCRIPT
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Sole Proprietorship: Luke Nugent
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Business Description
Products/Services
• Plumbing and Drain cleaning services• Copper Pipe Instillation and Repair• Faucets, and Fixtures Instillation and Repair• Gas Pipes Instillation and Repair• Septic Line Instillation and Repair• Water Heater Instillation and Repair• Water Pipe Instillation and Repair• Wells and Water Treatment
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Hours of Operation
• Mon- Sat: 24 hours a day, seven days a week for maintenance calls (emergencies)
• Mon-Fri: 8 a.m. to 4 p.m. for installation (appointment needed)
• Why?-Help me compete with competitors
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Location
• 4318 Bryant Road, Allison Park, PA 15101
• 20,400 Sq. Ft. Warehouse
• Lease for $6/SF/Year- $120,000 (20,000 Sq. Ft.)
• Features: Drive in doors, Climate controlled, 15 to 16 foot ceilings, owner will build to suit
• Bonus: Two miles from Route 8 (Hampton) and close to McKnight Road
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Consultants Needed/ Licenses
• Accountant• Lawyer• Insurance Agency
• Business License• Plumbers License• Retail License
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Personal Skills and Experience
• Associates Degree in Business
• Certified Master Plumber
• Organized- Have a planner and I am a neat person
• Great with People- Very social and Outgoing
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Employees Needed
• Master Plumber (Me)-1
• Plumber (Assistant)- 1
• Plumber (On-Call)-3
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Monthly Salary
• Master Plumber- $6,250
• Assistant Plumber- $4,500
• On-Call Plumbers(3)- $4,500
Total Monthly Salary- $24,250
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Job Specification Form
Company: Nugent Plumbing Department: N/AJob Title: Plumbers assistant Rate of Pay: From $15 to $25 HrSupervisors Job Title: Master Plumber (Owner, Luke Nugent)
Qualifications
Education: Certified Plumber (at least two years of trade school)Experience: Minimum of 5 Years working with Certified PlumberPhysical Requirements: Must pass Physical and Drug TestSpecific Skills or Abilities Required: Able to Maintain and Install Plumbing Systems (Pass Knowledge Test given by Owner)Training Provided: Teach Payment System and Basic Operation Ways
Job Requirements
Major Job Tasks: Assistant PlumberSpecific Job Duties: •On-Call Service (home to home maintenance)•Assist Master Plumber (Help install new construction and plumbing systems)•Install Plumbing Systems
Number of Work Hours Required per Week:Maximum: 40 hours Minimum: 25 hours
Normal Work Schedule:Daily: On-Call; 8am to 4 pm (When Needed)Weekly: Monday thru Sunday
Employee Benefits Provided:Vacation: 1 Week Paid Vacation; 2 Weeks Unpaid; Holidays: OffInsurance: Health Insurance
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Hiring Process
• Place Job Opening in:– Yellow Pages– Vocational Schools/ Trade Schools– The Union
– Look through Applications– Interview Potential Employees– Select Employee
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Competition
• Mr. Rooter Plumbing
• Gillece Plumbing
• Terry’s Plumbing
• Roto-Rooter Plumbing
• A couple smaller local Plumbing Businesses
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Why Will I Be Successful?
• Plumbers are always in need
• Offer around the clock service- 24 hr a day
• Competitive Prices- similar to competitors
• Very knowledgeable and reliable
• Experienced Workers
• Warranty on Instillation
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Target Market
• Homeowners in the North Hills (Hampton, Shaler, Pine Richland, North Alleghany, Mars)
• Small Businesses
• Contractors or Construction Companies
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Advertising Plan/ Grand Opening
• Pass Out Flyers
• Uncover Billboards
• Place Ad in Yellow Pages
• Offer Discount
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Nugent Plumbing
Equipment List
Note: List any Equipment needed for start-up
Required Equipment for Start Up Amount Total Resource
Technology
Computer(s) $ -
Printer(s) $ -
5Phone(s) $ 1,250.00 Verizon Wireless
Web Page $ 200.00 websitehomework.com
Checking/ Bank Fees $ 200.00 PNC Bank
Total Technology Cost $ 1,650.00
Equipment
Work Vans (4) $ 60,000.00 Cargo Van-Go.com
Plumbing Tools $ 10,000.00 mybuilder.com
Total Equi;pment Cost $ 70,000.00
Furniture & Fixtures
Shelves/Racks $ 2,500.00 industrialshelving.com
Total Furniture Cost $ 2,500.00
Other Assets
Total Cost of Other Assets $ -
TOTAL COST OF EQUIPMENT $ 74,150.00
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Nugent Plumbing
Start Up Costs
Note: Required Start-up Funds for New Business
Required Start-Up Funds Amount Totals
Fixed Assets
Technology $ 1,650.00
Equipment $ 70,000.00
Furniture and Fixtures $ 2,500.00
Other Fixed Assets $ -
Total Fixed Assets $ 74,150.00
Start-up Costs (one-time)
Legal and Accounting Fees $ 1,000.00
Licenses $ 1,000.00
Rent Deposit $ 10,000.00
Utility Deposit $ 250.00
Other one-time costs
Total Start-up One-time Costs $ 12,250.00
TOTAL START-UP COSTS $ 86,400.00
Note: Copy from Income Statement
Operating Expenses One-Month
Cost of Goods Sold $ -
Owner's Yearly Salary $ 6,250.00
Wage Expense $ 18,000.00
Rent Expense $ 10,000.00
Advertising Expense $ 720.00
Supplies Expense $ 250.00
Utilities Expense $ 250.00
Cell phone & Internet $ 250.00
Insurance Expense $ 100.00
Total Operating Capital $ 35,820.00
Six-Month Operating Expenses + One-time Costs $ 214,920.00
Total Start-up Funds Required $ 301,320.00
**Start-up Funds + Six-Month Operating Expenses
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Nugent Plumbing
Income Statement
For Month Ended
June July August September October November
Revenue from Sales $ 36,000.00 $ 37,080.00 $ 38,192.40 $ 39,338.17 $ 40,518.32 $ 41,733.87
Avg. Customers/Day 4
Avg. Purchase Price $ 300.00
Days open per month 30
Cost of Goods from Sales $ - $ - $ - $ - $ - $ -
Avg. Industry Markup 100%
Gross Profit $ 36,000.00 $ 37,080.00 $ 38,192.40 $ 39,338.17 $ 40,518.32 $ 41,733.87
Operating Expenses:
Owner's Yearly Salary $ 75,000.00 $ 6,250.00 $ 6,250.00 $ 6,250.00 $ 6,250.00 $ 6,250.00 $ 6,250.00
Wage Expense $ 18,000.00 $ 18,000.00 $ 18,000.00 $ 18,000.00 $ 18,000.00 $ 18,000.00
Rent Expense $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00
Advertising Expense $ 720.00 $ 741.60 $ 763.85 $ 786.76 $ 810.37 $ 834.68
Supplies Expense $ 250.00 $ 250.00 $ 250.00 $ 250.00 $ 250.00 $ 250.00
Utilities Expense $ 250.00 $ 250.00 $ 250.00 $ 250.00 $ 250.00 $ 250.00
Cell phone & Internet $ 250.00 $ 250.00 $ 250.00 $ 250.00 $ 250.00 $ 250.00
Insurance Expense $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00
Loan Payment $ 2,229.00 $ 2,229.00 $ 2,229.00 $ 2,229.00 $ 2,229.00 $ 2,229.00
*301,320 at 4% for 15 Years
Total Operating Expense $ 38,049.00 $ 38,049.00 $ 38,049.00 $ 38,049.00 $ 38,049.00 $ 38,049.00
Net Income $ (2,049.00) $ (969.00) $ 143.40 $ 1,289.17 $ 2,469.32 $ 3,684.87
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Loan Info
• Total Loan- $301,320
• At 4% for 15 Years
• Monthly Loan Payment- $2,229