sample business plan for mechanical engineering

Mechanical Engineering Business Plan [Sample Template]

By: Author Tony Martins Ajaero

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Are you about starting a mechanical engineering firm? If YES, here is a complete sample mechanical engineering business plan template & feasibility report you can use for FREE .

Starting a mechanical engineering business is different from your average business, as expertise in this industry is required especially if you intend to be able to meet some of the expectations of your clients. The mechanical engineering industry is one with several niches such as kinematics, mechanics; robotics; drafting and structural analysis and most firms usually offer to stick to one or two niches rather than attempt to offer all the services.

Starting this business can be a bit difficult as you will also need to employ or partner with a host of mechanical engineering professionals, and also employ other proficient staff to help you run your firm and achieve your intended corporate goals and objectives.

Another thing that would be required is a business plan. While writing a business plan might look complex, it is for this reason that a sample mechanical engineering firm business plan has been prepared below for you;

A Sample Mechanical Engineering Firm Business Plan Template

1. industry overview.

The engineering industry isn’t doing so well as demand fell due to the fall of oil prices in 2015. This action caused the industry to not only slow down but to cancel on major projects in the case of the crunch. Asides cancellation of projects, most firms in the industry also reduced its capital spending which led to a stall in the industry.

The oil price was not responsible alone for the fall of the industry as economic activities in other countries such as China which had seen a decline also contributed to the global downturn.  China has been a chief player globally as regards economic activity and infrastructure projects for at least the past ten years.

According to analysts, 2016 will still not be a good year for the engineering industry as revenues will continue to fall especially as global economy is virtually still unstable. This action will lead to a stagnation process for the industry that was previously recovering from the previous collapse it experienced in the 2008 and 2009 financial crisis.

According to a study by Commerzbank, the mechanical engineering industry in Germany was on the positive outlook as there was a slight increase of about 3% in demand for the country’s products by other nations in Europe. This means that the mechanical engineering sector in the engineering industry is growing when compared to other sectors in the industry.

China has seen stiff competition in its mechanical engineering industry from other Asian countries as more providers are also entering the market in order to showcase what they are able to offer.

According to the united states Bureau of Labor Statistics, employment of mechanical engineers will grow by 5% between the periods of 2014 to 2024. This percentage is averagely what other occupations in other industries are expected to pull.

It is however not all gloom in the industry as the sector saw a slight increase in the year 2015 and has been projected to grow another 6% in the year 2016. According to analysts, a global growth and economic stability will see an annual growth in the industry to more than 100% what it is currently is.

2. Executive Summary

Motown Mechanical Engineering Firm is a standard mechanical engineering firm that will be based in Detroit – Michigan, USA and will cover all our corporate and individual clients. We are in the mechanical engineering sector to offer production of products as well as consultancy and advisory services to our various clients.

Our vision as a company is to ensure that we get at least three major clients by the end of our second year in business and that we meet the expectations of our customers so as to ensure that they stick with our firm and also refer us to others. To achieve this, we will build excellent relationships with our clients and also build the best business structure.

Our location in Detroit – Michigan is very strategic as it is one of the mechanical engineering hubs in the country, which means that we are near to the kind of strategic clients that will give our business the boosts we need. We are also in a very conspicuous location that makes it very easy for our customers and even employees to access us.

The machineries we use in our mechanical engineering firm are those that are designed to give us optimum satisfaction by lasting for a long time and causing us to spend less on buying new machines and equipment as replacements. This means that our customers have no need to fear that their demands will not be met on time due to poor machineries.

We have the best management team as they are not only the best we could source for in relation to the size and scale of our firm but they are also determined individuals that understand our core values and are willing and committed to ensure that we attain our desired goals and objectives.

We have built the best business structure for our firm as we sourced for and recruited the best hands to help us achieve our vision. Our workers understand that we are in business to make a profit and that the closer we are to achieving our goals, the better it gets for all those involved and so they are willing to remained dedicated to our true goals.

Our facility is one that is conducive for our employees because we understand that a conducive environment breeds productivity and efficiency in the workplace. We also run a standard facility and our work ethics are of the highest standard and as transparent as possible.

Finally, our Chief Executive Officer Mr. Don Perrine is a talented entrepreneur and businessman who have the finesse and expertise required to ensure that our mechanical engineering firm attain its intended goals and objectives. He has a B.Sc. Degree in Mechanical Engineering from the University of Oxford as well as a Masters Degree in Business Administration. He is also a certified project manager and has many projects under his belt

3. Our Products and Services

Motown Mechanical engineering Firm is established with the intention of dealing in all sorts of services to its various clients not only here in Detroit – Michigan but all over the United States of America as well. In our bid to ensure that we build a bottom line that will sustain our business and allow us grow, we intend to offer several services in addition to our core service in order to create multiple sources of income.

We intend to make our profit legally and under the permissible laws of the United States of America. Therefore some of the services we intend to offer to our clients are;

• Mechanical designs
• Structural analysis
• Other services such as assistance on code compliance, litigation support, safety inspections, and operational procedures
• Consultancy and advisory services

4. Our Mission and Vision Statement

• Our vision is to ensure that we get at least three major clients by the end of our second year in business and also to ensure that we meet the expectations of our customers so as to ensure that they stick with our firm and also refer us to others.
• To achieve our vision, we will ensure that we build effective long-term relationships with our clients and also offer excellent and efficient services that will be delivered in a timely and cost-effective manner.

Our Business Structure

Having a solid business structure is very important to us and so we have set forth processes and structures that would ensure that we start off on a solid foundation and run with as less hitches as possible. This is why we are willing to go the extra mile to ensure that we get the right hands to work with us in all the available positions in our mechanical engineering firm here in Detroit – Michigan.

We are going all out to ensure that we build a professional team that are not only committed but understand our vision and where we are going to and are willing to ensure that we attain our corporate goals and objectives. Our management staffs for instance are some of the best professionals in the whole industry and have the expertise on how to ensure that we become a reckoning force nationally.

Due to the fact that we intend to offer more services than we ordinarily should, we would be employing more hands to handle the new tasks that would arise from our more services here at Motown Mechanical Engineering Firm Inc. Below is the business structure that we will build at Motown Mechanical Engineering Firm;

Chief Executive Officer

General Manager

Chief Financial Officer

Plant Manager

Human Resources and Admin Manager

Marketing Executives

Customer Service Executives

Business Development Officer

Security Guard

5. Job Roles and Responsibilities

• Drafts policies and strategies that will set the path for the organization’s future
• Meets with high level clients on behalf of the organization
• Reviews policies and modifies ineffective policies whilst ensuring that effective policies are duly implemented
• Coordinate all the departments and ensures that management staff duly understands the policies of the organization
• Takes certain important decisions on behalf the chief executive officer
• Handles all financial transactions and ensures that all transactions are in accordance to financial rules
• Monitors the revenue of the organization in order to ensure that the loan collected is fully repaid
• Prepares tax documents accurately and ensures that they are submitted to the tax authorities as at when due
• In charge of all machineries and employees working in the plant
• Ensures that machineries in plant are functioning fine
• Carries out light maintenance and repairs when necessary on behalf of management
• Conducts recruitment and carries out orientation of new employees on behalf of the organization
• In charge of employee welfare and incentive packages
• Carries out regular performance appraisals in order to rev up the productivity of the employees for the benefit of the firm
• Conducts market research in order to determine new markets for the firm
• Drafts effective marketing objectives to be used to attract clients for the firm
• Meets physically with clients on behalf of the firm
• Answers enquiries from clients with the aim of giving back accurate information about the company
• Ensures that they are updated not only on company policies but also on industry trends
• Keeps an updated and accurate database of clients on behalf of the firm
• Looks into developing new businesses in order to generate new streams of income for the firm
• Works with the marketing executives in order to understand the target market
• Carries out any other duties that might crop up
• Drives supplies and materials to and from the firm
• Ensures that materials gotten are accurate and in line with documentation
• Carries out light maintenance and repairs on the vehicle when necessary
• Ensures that the premises and properties is always secured at all times
• Monitors all activities both incoming and outgoing on behalf of the organization
• Provides beneficial security tips on behalf of the organization
• Ensures that the premises is kept clean at all times
• Ensures that cleaning supplies are always in stock
• Carries out all duties as might be determined by the human resources

6. SWOT Analysis

Due to our desire for excellence, we know how important it is for us to start and run a standard mechanical engineering firm and so we have had to engage one of the finest business consultant here in Michigan who has a deep knowledge of the business we intend going into as well as the environment from where we intend to operate from.

After looking through our business concept, the business consultant used an analysis that would allow him know how we were likely to fare in the mechanical engineering industry.

In carrying out an evaluation as we asked for, the business consultant was able to use our strengths, weaknesses, opportunities and threats to determine what we are likely to be exposed to here in Detroit – Michigan, here in the United States of America. Below is the result of the SWOT analysis that was conducted on behalf of Motown Mechanical Engineering Firm;

There are several strengths available to us as a new start-up and it starts from the services that we are offering our various customers. We fully intend to employ highly competent and professional employees who not only understand what our firm stands for but also what trends in the industry and how our firm could benefit from it.

We have a team that would b able to meet up with demands of our clients as our motto is to be able to deliver our projects in a timely manner to all our clients. We know how valuable our clients are and so we intend to ensure that we go all out to make them keep coming back to patronize us and also refer others to us as well.

Finally, our management staff and our chief executive officer have the necessary experience and qualifications that would ensure that we are able to achieve our corporate goals and objectives.

The mechanical engineering industry is a complex one and so as a start-up we would not be able to fully compete with already established mechanical engineering firms because we are limited in finances and employees. We intend to work seriously though and change our weaknesses to our strengths as soon as we can.

• Opportunities

Several opportunities are available to us in this industry and we are set to ensure that we fully tap into the opportunities available. We intend adding the robotics niche because we know that the future lies in robotics, which is another opportunity for us.

Every business faces threats at every point in time and our business is no different. We would likely be facing threats from the economy especially if it experiences a downturn which would mean that there would be fewer clients for the firm.

Also, if there is an arrival of a competitor offering same services in our same location, it will definitely affect our overall revenue. Facing threats aren’t new, but we have strategies in place to handle any threat that are likely to occur.

7. MARKET ANALYSIS

• Market Trends

Even though mechanical engineering firms can service a broad client base by offering several services, most mechanical engineering firms choose instead to specialize in a niche, whilst forming strategic partnerships with other mechanical engineering firms offering other services in order to be able to fully deliver to their customers.

Whilst this might seem counterproductive, a niche market offering is actually wise especially for a start-up who might not have all the necessary resources in which to offer a full scale of activities to its customers. Recruiting the right employees for a mechanical engineering firm can be very difficult because of the need to recruit an array of engineering professionals amongst other kinds of workers.

Most clients will only patronize the services of a mechanical engineering firm, if they know that the staffs in the firm have the necessary experience and expertise. This does not however mean that you cannot start your mechanical engineering firm with some core staff whilst partnering with another firm for staffs you might need whenever a job comes up.

Most mechanical engineering firms usually end up expanding their business models in order to offer support services such as safety inspections, litigation support, operational procedures as well as assistance with code compliance. This is often to create multiple sources of income for the firm in order to sustain and grow the company.

8. Our Target Market

Even though mechanical engineering firms offer services to a wide array of clients, restriction of the target market to just a set of clients for our firm cannot be done, which is why we have conducted a market research on the market we intend entering.

The reason for the market research is so that w would have an idea on what the clients expect from us, which would allow us know how best we can offer our services. We therefore are in business to offer our services to the following group of people;

• Government agencies
• Corporate organizations
• Other engineering firms
• Construction companies
• Aviation industry
• Transportation and auto industries
• Other mechanical engineering firms
• And other related industries

Our competitive advantage

We are a business established because of our passion for the engineering industry and the desire to bring forth standard practices through our ethical practices. We are also a firm that intends to make profit via our services and also be able to compete favorably against our competitors in the same industry globally and nationally.

To achieve all that we intend, we have laid down competitive strategies that we intend to deploy as a means of standing out in the industry.

Our intention is to be amongst the top three mechanical engineering firms not only here in Detroit – Michigan but also all around the United States of America. We will ensure that we deploy effective promotional strategies to entrench our brand in the mind of our customers.

We have the best technologies and also use the best machineries which mean that clients who place orders always get it done within time with as few hitches as possible. All our machineries and equipment all undergo intense inspection before and after use to be able to forestall any problems that might likely crop up.

We have highly trained and competent staff in our employ as we understand that having experienced and competent staff gives us an edge over our competitors because not only do they understand what our company stands for, they know how best to help us achieve our goals.

We also offer our employees a great welfare package, better than what they are most likely to get if they were working for our competitors. We also ensure that our employees get periodical trainings that will enhance not only their skills but also increase the productivity and efficiency rate for our firm.

Finally, we understand how valuable customers are to any business and so we treat all our clients with the utmost respect that they deserve. All complaints are promptly treated and all feedbacks duly appreciated. We also reward customers who are loyal to us as well as those who refer us to others.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Motown Mechanical Engineering Firm is a reputable firm that is based in Detroit – Michigan and intends to offer certain services to its intended customers from in and around its intended location.

Asides our core service, we will be adding other services as well in order to boost our bottom line and help sustain and grow our company. Therefore the several ways by which we intend to generate income for our mechanical engineering firm include;

10. Sales Forecast

Mechanical engineering firms are ones that are very vital to the economy and as such cannot be done without. Our strategic location in Detroit – Michigan is one that has us optimistic of not only generating and reaching our revenue goals but also allow us grow and expand our business in as little time as possible.

Our arrival at the sales forecast for a three year period was borne from the fact that we conducted a critical analysis of the industry and how we intended to achieve our set goals based on certain data and assumptions from the similar start-ups such as ours especially those who were located in the same location with us.

Below therefore are the sales projections that we arrived at for Motown Mechanical Engineering Firm using several assumptions;

• First Fiscal Year-: $2,000,000
• Second Fiscal Year-: $4,000,000
• Third Fiscal Year-: $8,000,000

N.B : It should be noted that the above sales projections were carried out based on the fact that certain assumptions would not change, such as there would not be a downturn in the economy or the arrival of any major competitor. Should any of these assumptions change, it would have an impact on the sales projection, which might increase or decrease depending on the positivity or otherwise of the assumptions stated.

• Marketing Strategy and Sales Strategy

Marketing is a very essential part of any business because not only does it generate awareness about the brand but it also serves to generate income for the brand. Not carefully drafting and deploying effective marketing strategies has seen to the collapse of businesses.

Since this is basically the major way to generate revenue for our firm, we have conducted a marketing research in order to identify our best to attract our target market.

We know how importance technology has come to be in the marketing process and we fully intend to use this to our advantage in our marketing strategies by creating apps and also using the internet to ensure that we create awareness for our mechanical engineering firms.

We have hired a marketing consultant who is well versed in the industry and who understands the environment we will be operating in to help us draft effective marketing strategies that will allow us be able to compete favorably against our competitors.

We would also be empowering our marketing staff in order to modify or remove ineffective marketing strategies and decide what is best for our firm overall based on our corporate core values and philosophies, whilst also positively communicating our brand to our potential and existing clients.

Therefore, the marketing and sales strategies we intend to adopt for Motown Mechanical Engineering Firm are;

• Ensure that we formally introduce our mechanical engineering firm to our potential and existing clients as well as industry stakeholders
• Throw a grand opening party to launch our mechanical engineering firm in a way to boost awareness for our firm
• Engage in direct marketing
• Place advert for our mechanical engineering firm in local newspapers, and on radio and television stations
• Ensure that we use social media platforms such as LinkedIn, Google Plus, Facebook, and Twitter to advertise our business
• Ensure that we are listed in local (yellow pages) and online directories

11. Publicity and Advertising Strategy

No matter how large scale our business might be, having the right publicity is very vital to the business as it would ensure that not only is our brand positively communicated to all our clients but that we are able to effectively compete against our competitors in the marketplace.

We have for this purpose hired a brand consultant who has knowledge about our kind of business and the environment we intend to start off in to help draft effective publicity and advertising strategies that would help create a positive awareness in the eyes of our clients not only here in Michigan but all over the United States of America.

The platforms that we intend to use in promoting and advertising Motown Mechanical Engineering Firm here in Detroit – Michigan are;

• Sponsoring projects in the local community in which we are based
• Use corporate social media platforms like LinkedIn, Google Plus, Facebook and Twitter to generate the right awareness for our mechanical engineering firm
• Placing of adverts in local newspapers as well as on radio and television stations
• Install our bill boards in strategic locations all around Detroit – Michigan in order to raise awareness locally about our services
• Distribute our handbills and fliers in target locations
• Promote our activities vi our official website as well as on other related blogs and websites

12. Our Pricing Strategy

Setting the right rates for our services will depend on a whole lot of factors such as what our overhead costs and operational costs are, what our competitors are offering and what is fair to our customers while allowing us make a profit as we should.

Setting the right rates for our services will mean we employing the right strategy that will allow us get the detailed rates that we will eventually come to charge our customers. In view of this, we intend to charge rates much lower than what is ordinarily obtainable in the industry for at least three months.

The idea behind this is that we will be able to attract the customers we would need for our business, which would allow them see what we have to offer. We however will not offer ridiculous prices in such a way as to cause a price war between us and our competitors.

Having looked critically at the rates we will be offering during this period, we would however like to point out that even though we would be running on a low profit margin for this period, we would not be incurring any loss whatsoever for our firm.

• Payment Options

Due to the diverse offerings that we intend to offer at Motown Mechanical Engineering Firm, it will allow us to have attract different customers to our firm who will have diverse preferences for how they which to pay for the services we would be offering.

This has enabled us to come up with different payment options. The payment options that we therefore intend to offer all our various customers are;

• Payment via check
• Payment via bank draft
• Payment via online payment portal

The above payment options which we came up with were carefully chosen by us after considering what will be good for our clients and for us eventually. The platforms will be without any hitches whatsoever.

13. Startup Expenditure (Budget)

Mechanical engineering firms are complex businesses because it not only require professionals but also need strategic partnerships with other firms, which is why in generating capital for the firm, there are a lot of things that need to be put under consideration.

Therefore, after generating our capital, it should be noted that the bulk of the capital will definitely go into procuring equipment, paying employee salary and leasing a facility. Therefore, the key areas where we intend to spend our start-up capital on are;

• Total fee for registering the business in the United States of America – $750
• Obtaining of licenses, permits and accounting and customer management software – $5,250
• Cost of hiring several reputable business consultants and payment for a business plan – $20,000
• Insurance coverage (general liability, asset insurance, equipment insurance and workers’ compensation) – $5,000
• Cost of purchasing several equipment and machinery – $500,000
• Operational cost for the first 6 months (payments of employee salaries and utility payments) – $300,000
• Cost of leasing a facility for use at six years and carrying out renovations – $300,000
• Marketing promotion expenses (grand opening party promotion and general marketing) – $20,000
• Other start-up expenses (furniture, stationeries, computers, printers, and phones) – $9,000
• Cost of purchasing one transport truck – $55,000
• Cost of launching a website – $1,000
• Cost of throwing a launching party – $5,000
• Miscellaneous – $10,000

From the above analysis, we would need the sum of $1,231,000 if we intend to not only start but successfully run our mechanical engineering firm here in Detroit – Michigan.

Even though the amount is quite average, it should be noted that the bulk of the capital will go into buying heavy machineries and equipment for use; leasing and renovating a facility and furnishing it, purchasing a truck as well as payment of employee salaries utility bills.

Generating Funding / Startup Capital for Motown Mechanical Engineering Firm

Motown Mechanical Engineering Firm is owned by a foremost mechanical engineer and businessman, Mr. Don Perrine, who has over 20 years experience in the engineering industry as well as in the business sector. Don intends to source for funds from various sources in order to be able to generate the needed capital for his business.

Some of the sources where he intends to generate the required funds for his business are;

• 30% of the total capital from sale of personal stock
• 70% of the total capital from the commercial bank

N/B : From the sale of his personal stock, he was able to generate the sum of $369,300. The bank which Mr. Don Perrine has approached has agreed to lend him the sum of $861,700 after looking through his business plan. The bank loan will be repaid after 7 years with a 2.5% interest rate.

All the loan documents have been signed and approved, and the money would soon be credited to the company account before the end of the work week.

14. Sustainability and Expansion Strategy

Sustaining a business in order to grow and expand it is very vital and as such we have carried out measures to ensure that our mechanical engineering firm is effectively sustained. The measures we intend to deploy in implementing our sustainability are business structure, customer loyalty and re-investment strategy.

Building a solid business structure is very important to us because we would like to do away with any hitches whatsoever in the bid to offer our services to our clients, and to this effect, we are sourcing for and hiring professional and competent employees.

Our employees are not only professionals; they also understand our corporate values and objectives and are willing to work to ensure that we are able to achieve them. We would be offering our employees the best welfare packages better than what similar mechanical engineering firms are offering their own employees.

Also, we would ensure that we conduct periodical trainings for our employees in order to not only enhance their skills but also to ensure that that productivity rate for our firm is increased.

Having loyal customers is very important to our business knowing our customers can make or mar a business, and so we would ensure that we treat our customers very well and give them the attention that they deserve. All our staffs understand this and have been trained to ensure that all our customers are satisfied with our every service.

Finally, we intend to re-invest 30% of our profit back into the business as we know that this will help us have a strong bottom line that will be highly beneficial to our business and allow us suitably expand our services which will in turn bring in more earnings.

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
• 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
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party / launching party planning: In Progress
• Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
• Purchase of trucks: Completed

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Free Mechanical Engineering Business Plan PDF | Business Plan for Engineering Services Company

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Here's a Sample 'Executive Summary' for a Engineering Business plan :

COMPANY NAME was founded in 1996 and is based in Thousand Oaks, Southern California.  COMPANY NAME offers good quality and cost effective service in engineering, design, procurement, project management, construction and construction management, environmental consulting, and other consulting services in relation to the design, building and management of electrical power. Once projects have been secured, then project offices will be established and project personnel and staff will be recruited. Project office organization and staff will encompass the engineering, procurement, and construction divisions. The Market At the moment there is a real opportunity to increase Southern California's power infrastructure as the government owned power utility (PLN) has not been able to deliver a reliable and cost effective power system. However, the current situation in State of California is characterized by a continuing downward economic drift. It seems reasonable, however, that the company's target market sectors have strength to be credible buyers in the Southern Californian power business, since their business orientation is focused in the export market. The company faces significant rivalry from a variety of direct and indirect competitors. The purpose of this plan is to attain grant funding in the amount of $1,600,000 in order to expand the company, strategize and implement an advertising campaign, upgrade to more efficient equipment and to hire additional employees.

1.1 Objectives

The financial and marketing objectives of COMPANY NAME follow. Financial Objectives

• High average gross margin percent of sales revenue for jobs. When the company  has been in operation for four years after attaining grant funding, it will also produce excellent IRR for 25 years, which will create different types of jobs: build, own, operate (BOO), build, operate, transfer (BOT), build, lease, transfer (BLT), build and rent (B&R), and energy conversion contract (ECC).
• Net income of more than 20% of sales by the fifth year.  

Marketing Objectives  Thus the marketing objective might read:

• Expand customer awareness over the planning period.
• Reduce competition, reduce risks, and lower price levels by establishing a joint venture with a reputable local company who has experience in performing EPC works of power projects, as well as the financial capability to be equal partners with COMPANY NAME.
• Pursuing not only EPC prospects, but also BOO, BOT, BLT, B&R, and ECC prospects.
• Utilizing the joint venture company as the main entity of COMPANY NAME to conduct business in Southern California.

1.2 Mission

The mission of the COMPANY NAME is to establish a strong presence in Southern California to implement all provisions of the Energy Engineering & Construction (EEC) mission statement with the specific mission of becoming the leading full service EPC in Southern California. Also, COMPANY NAME role to be the leader in the business of BOO, BOT, BLT, B&R, and ECC in the Southern Californian captive power sector, will be built through a joint venture approach. The broad mission requires the following objectives within Southern California:

• To obtain projects in all areas of EEC services.
• Reduce the costs of performing work to the point that the Southern Californian operation can provide engineering, procurement, and support services at a lower cost than those provided by the larger corporate conglomerates.

1.3 Keys to Success

• Marketing power. COMPANY NAME needs to have its services on the shelves as the most reliable, high-quality, cost effective services in the industry, with enough marketing power to maintain an eight percent market share of EPC services in the Southern Californian captive power sector.
• Excellence in fulfilling the promise. To realize a benefit, a claim must be made and proof presented.
• Providing clients with both solutions and value creations. Helping the clients to increase their own residential and commercial lighting potential.
• Quality service and customer satisfaction. Everything we sell is guaranteed, so the services have to do what the customers want. Long-term customer satisfaction is critical to our survival.
• Leveraging from a single pool of expertise into multiple revenue-generating opportunities: Engineering & Architect (E&A), project consulting, project management, Engineering & Procurement (E&P), and Engineering & Construction (E&C).
• The right management team, with strong foundations in marketing, management, finance, and services development.

COMPANY NAME is a subsidiary company of United States Energy Engineering & Construction (U.S. EEC) that provides services including engineering, design, procurement, project management, construction and construction management, environmental consulting, management consulting, quality assurance and quality control, information management, operations and maintenance, and process technology development. COMPANY NAME sets the following objectives for the products and services lines of power generation and power delivery projects:

• To conduct business in Central and Southern California, and to provide all aspects of energy engineering services.

2.1 Company Ownership

COMPANY NAME is an S Corporation that was created as a Ventura County corporation based in Thousand Oaks, California, under the sole ownership of INSERT NAME.  The company was established in 1996 and is an A-rated member of the Better Business Bureau.

2.2 Company History

Since 1996, COMPANY NAME has provided construction and energy solutions to home and business owners. With a focus on lighting design and general contracting COMPANY NAME provides a full range of services and can meet virtually any electrical and lighting need. No project is too small or too large. Every project adds value to a property and increases security, comfort and convenience. COMPANY NAME builds custom homes, additions, bedroom and bathroom remodeling, any and all indoor and outdoor building projects.  The company also does electrical work, including installation and wiring for residences and commercial buildings. With the current expansion of solar energy, COMPANY NAME is able to provide green alternatives to meet the customers' home and business energy needs. By utilizing solar power, customers reduce their energy costs and also may be eligible for certain tax benefits and energy credits. COMPANY NAME is located in Thousand Oaks, California but provide design, lighting and construction services throughout Ventura, Santa Barbara and Los Angeles Counties. The company is an A-rated member of the Better Business Bureau.

Table: Past Performance

3.0 Services

COMPANY NAME offers good quality and cost effective service in engineering, design, procurement, project management, construction and construction management, environmental consulting, management consulting, quality assurance and quality control, information management, operations and maintenance and process technology development. COMMERCIAL Businesses run on electricity and light, often requiring complex solutions to meet the needs of workers and customers.  Task and display lighting, energy-efficient solutions, security and safety issues are all services COMPANY NAME provides to commercial customers. COMPANY NAME provides fast, reliable service on commercial projects. Safety, Security and Exit Lighting Display Lighting Lighting Upgrades Fuse Panels Wiring Energy Conservation RESIDENTIAL Not only does COMPANY NAME handle general service calls but they also provide interior and exterior lighting design and installation services to make the customer's home more beautiful, safer, and more efficient and increase its value. The company deals with general lighting, which is the overall ambient light; task lighting, which is specific to work areas; and accent lighting, which adds drama or highlights particular areas in a space. Whether the project is a renovation, new home construction, an addition or regular maintenance, COMPANY NAME provides solid expertise and unsurpassed attention to detail. Interior Lighting Exterior Lighting Display Lighting Recessed Lighting Automation Security Landscape and Outdoor Lighting Wiring, Outlets, Panels and Switches Rewiring New Circuitry Surge Suppression Energy Conservation

Personal Growth Plan Development Tips

Personal growth seems to occur in spurts. We gain a little, lose a little, surge ahead or slide into a holding pattern where in growth seems to be stagnated. Here are ten ways to get back on track.

1. Recognize that growth continues, despite our best efforts to thwart it.

There's a saying: God's time and mortals' time differ. Nowhere is that more true than in the area of personal growth. Growth can be likened to fermentation; it often occurs well below the surface and appears dormant for long periods. Still, much is going on, if only we have the good sense to realize it. And, there ARE things we can do to break through the surface layers...

2. Engage in the process; give up attachment to the result.

We live in a results-oriented world. That's both good and bad. In the short term, it enables us to get more done faster. In the long term, however, it conceals a great life truth: ultimately, ALL is process, and as we engage in the process and relinquish our obsession with results, the results occur spontaneously, easily. To be involved fully in the process is to be fully in the present.

3. Work on one thing at a time.

High achievers and type A's pride themselves on their ability to keep several balls in the air at one time. For many, it works, but there is a price. Multi-tasking, as it's come called, splits your focus, reduces the energy devoted to any single task and--when the balls mysteriously begin to get out of control--leaves the serious multi-tasker at a loss for words or acts. But to work on one thing at a time is tantamount to enjoying the beauty of a single rose, savoring the clean clear taste of cold spring water, and feeling the exhilaration of a new day. Single tasking gets the body and the mind going again, inspires and invigorates.

4. Stop thinking, writing and speaking in the first person.

Here's a fun exercise. It's called, an I inventory and it goes like this. Review our correspondence file, the letters you've written, and note how often you begin a sentence with, I. Then, pay attention to your conversations with others. How often do you use that word, I? If you journal, take a yellow (better yet, red) marker and overline every single I. All of these are good measures of your preoccupation with yourself. Try taking a vacation from the word, I. You may find it both refreshing and stimulating.

5. Realize that it can take great effort to achieve a state of effortless achievement.

Sounds like double talk, doesn't it! But it's true. In order to achieve effortlessly, which is a measure of alignment, you must get beyond concepts that serve as comfort zones e.g., self-importance, personal attachment, and even enlightenment. With respect to enlightenment, it's not so much a state to be achieved as one to be recognized. If you're having trouble with this one, think of Jesus's words: Before Abraham was, I am (The Bible, John 8:58).

6. Look for the lesson in pain.

This is not a plea for a life of self sacrifice, or an argument that pain is necessary and good. It's just that sometimes, pain IS. Stopping, taking time to examine what's really going on in the present state of pain, prevents this all too common emotion from developing into anger, resentment and resignation. Looking at pain dispassionately, openly, allows you to learn the lesson and move ahead.

7. Let go of your need to have an opinion.

When things go wrong, friends offend, and our progress seems to be grinding to a halt, it's natural to have an opinion, to explain, justify and defend. Natural, yes; understandable, yes; but productive? No! To give up the need to have an opinion in such instances is to free the mind to receive answers.

8. Walk away from it.

Years ago, I was going through a rough time, but was determined to stick with it until I won out. A friend who sensed my frustration asked if I would tell her about it. With some hesitation, I told her of the problem, the struggles, and the seeming lack of progress. She listened patiently and, after I finished, hesitated a moment, and then said something I'll never forget: "You know, sometimes wisdom is knowing when to walk away from it." So, when IS it time to walk away? From a distance of some years now, I would say it's when the course you are "stubbornly" pursuing is not producing results and you have no real feeling that it will!

9. Follow your path rather than your plan.

The distinction relates to specificity. Paths are often winding, indistinct and surprising in where they lead. Plans are clear, definite, and designed to eliminate uncertainty. To follow a path is to be open to discovery, to the sudden turns that yield joy, insight and challenge. But, to really follow a path requires courage and a willingness to give up certainty. To follow a path is to go forward when you can see only a single step ahead, confident that the next step will appear.

10. HEAR what is being said.

Have you ever had a friend offer you some unwelcome advice and preface it with, "You're not going to want to hear this, but ..." Well, often when new information comes to us that conflicts with what we know, believe, think, or want, we DON'T hear it. Even while we're "listening", we're preparing our replies, defenses and rebuttals. In short, we're blocking our chance to learn. To "hear", as opposed to simply listening, is to withhold judgment, to go beyond the actual words, and to really be open to the possible lesson that may be lurking just beneath the surface. the difference between listening and hearing is that, somewhere in between, there's a filter, and it's usually our resistance to new and sometimes conflicting information.

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Engineering Business Plan Template & Guidebook

Are you starting an engineering business? The demand for skilled and knowledgeable engineering services has never been higher. Starting an engineering business can be a fulfilling and profitable venture. However, it's important to have a solid business plan in place to ensure the success of your business. Our Engineering Business Plan Template & Guidebook is designed to help you easily create a comprehensive business plan for your engineering business. This guidebook provides step-by-step instructions on how to create each section of your business plan, as well as helpful tips and examples to ensure that your plan is thorough and effective. With our template and guidebook, you can confidently put together a solid business plan to help you achieve your engineering business goals.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Engineering Business [11 Steps]
• 10+ Best & Profitable Engineering Business Ideas [2023]
• 25 Catchy Engineering Business Names:
• List of the Best Marketing Ideas For Your Engineering Business:

How to Write a Engineering Business Plan in 7 Steps:

1. describe the purpose of your engineering business..

The first step to writing your business plan is to describe the purpose of your engineering business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a engineering business:

An engineering business could have the following purpose mission statement: "Our purpose is to provide innovative engineering solutions that help our clients meet their goals and improve their operations. We are committed to using the latest technology and best practices to deliver high-quality, cost-effective designs that are tailored to the unique needs of each project. Through our expertise and dedication to excellence, we strive to be a trusted partner to businesses, organizations, and individuals in the pursuit of their engineering objectives."

2. Products & Services Offered by Your Engineering Business.

The next step is to outline your products and services for your engineering business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your engineering business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your engineering business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your engineering business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a engineering business?

To run an engineering business, you will need a team of trained and certified engineers, as well as a range of specialized equipment and tools, such as computers, software, and testing equipment, for carrying out engineering projects and services. You will also need a well-equipped office or workspace for your staff. In addition to these items, you may also need the following equipment and supplies:

• CAD and other design software
• Project management and scheduling tools
• Office supplies, such as pens, paper, and envelopes
• Marketing materials, such as brochures and business cards
• File storage and organization system

Depending on the specific nature of your business and the regulations in your area, you may also need additional permits or licenses to operate legally. It is important to research and comply with all applicable laws and regulations to ensure the safety and success of your engineering business.

5. Management & Organization of Your Engineering Business.

The second part of your engineering business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your engineering business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Engineering Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a engineering business varies based on many different variables, but below are a few different types of startup costs for a engineering business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your engineering business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your engineering business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your engineering business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Engineering Business Plans:

Why do you need a business plan for a engineering business.

A business plan is a document that outlines the goals and objectives of a business, as well as the strategies and tactics that will be used to achieve those goals. It is important to have a business plan for your engineering business because it helps to focus the efforts of the company, communicate the business's goals and objectives to potential investors, and provide a roadmap for the business to follow. Additionally, a business plan can be used to help secure funding from investors or lenders, who will want to see that the business has a solid plan in place before they provide funding.

How to write a business plan for your engineering business?)

To build a business plan for your engineering business, start by researching your industry, competitors, and target market. Use this information to define your business's goals and objectives, as well as the strategies and tactics that you will use to achieve those goals. Next, create a financial plan that outlines your projected income, expenses, and profit. This should include a projected income statement, cash flow statement, and balance sheet. Once you have all of this information, you can use it to create a comprehensive business plan that outlines the goals and objectives of your business, as well as the strategies and tactics that you will use to achieve those goals. A well-written engineering business plan contains the following sections: Purpose, Products & Services, Marketing Plan (including Marketing Strategy), Operations/Management Plan (including Operations/Management Strategy), Financial Plan (including Financial Forecasts), and Appendixes.

Can you write a engineering business plan yourself?

Yes, you can write a engineering business plan yourself. Writing a business plan is a valuable exercise that can help you clarify your business idea, identify potential challenges and opportunities, and develop a roadmap for success. While there are many resources and templates available to help you write a business plan, the process of creating one is ultimately up to you.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

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Here is a free business plan sample for an engineering firm.

If you're an aspiring entrepreneur with a passion for engineering and innovation, embarking on the journey of starting your own engineering firm can be both exciting and daunting.

In the following paragraphs, we will present to you a comprehensive business plan template tailored for an engineering firm.

As you may be aware, a meticulously developed business plan is crucial for the success of any venture. It serves as a roadmap, outlining your objectives, strategies, and the blueprint for your firm's growth and operations.

To streamline the process and ensure you're on the right track, you can utilize our engineering firm business plan template. Our specialists are also on hand to provide a free review and refinement of your plan.

How to draft a great business plan for your engineering firm?

A good business plan for an engineering firm must reflect the unique aspects of the engineering industry.

Initially, it is crucial to provide a comprehensive overview of the engineering market. This includes up-to-date statistics and an analysis of emerging trends within the industry, as illustrated in our engineering firm business plan template .

Your business plan should articulate your firm's vision clearly. Define your target market (such as government contracts, private sector projects, or subcontracting opportunities) and your firm's distinctive services (like civil engineering, environmental consulting, or structural design).

Market analysis is a vital component. This requires a thorough understanding of the competitive landscape, industry trends, and client needs.

For an engineering firm, it is important to detail the range of services you plan to offer. Describe your areas of expertise - such as infrastructure, transportation, or energy - and how these services address the challenges and requirements of your intended clientele.

The operational plan is critical. It should outline your firm's location, the structure of your engineering and administrative teams, supplier relationships for equipment and software, and project management methodologies.

Emphasize the qualifications of your team, the technological tools you will use, and the standards for quality assurance and project delivery.

Then, delve into your marketing and sales strategy. How will you build your firm's reputation and secure contracts? Consider networking strategies, industry partnerships, and your approach to bidding on projects.

Adopting digital strategies, such as maintaining a professional website and leveraging industry-specific software, is also vital in the modern business landscape.

The financial section is another cornerstone. It should encompass the initial capital requirements, revenue projections, operational expenses, and the point at which the firm will become profitable.

In an engineering firm, project-based billing and long-term contracts can impact cash flow, making it essential to have a robust financial plan. For assistance, refer to our financial forecast for an engineering firm .

Compared to other business plans, an engineering firm's plan must pay closer attention to professional liability, regulatory compliance, and the technical complexity of services offered.

A well-crafted business plan will not only help you clarify your strategic approach but also attract investors or secure loans.

Lenders and investors are interested in a solid market analysis, realistic financial projections, and a comprehensive understanding of the firm's operational management.

By presenting a detailed and substantiated plan, you showcase your professionalism and dedication to the success of your engineering firm.

To achieve these goals efficiently, you can start with our engineering firm business plan template .

A free example of business plan for an engineering firm

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for an engineering firm .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The engineering services market is a robust and essential sector with significant growth potential.

Recent estimates place the global engineering services market at approximately 1 trillion dollars, with expectations for continued expansion due to the increasing complexity of infrastructure projects and technological advancements.

In the United States alone, there are over 100,000 engineering firms, contributing to an annual revenue of roughly 250 billion dollars for the industry.

These figures underscore the critical role engineering firms play in the development of infrastructure, technology, and industry, as well as their substantial economic impact.

Current trends in the engineering sector indicate a move towards innovation, sustainability, and smart technology integration.

There is a growing emphasis on green engineering and sustainable design, with firms investing in renewable energy projects and eco-friendly materials to minimize environmental footprints.

Advancements in digital engineering, such as Building Information Modeling (BIM) and the use of AI and machine learning, are revolutionizing project design and management, leading to increased efficiency and accuracy.

The rise of smart cities and the Internet of Things (IoT) is creating new opportunities for engineering firms to contribute to the development of connected and intelligent urban environments.

Additionally, the demand for infrastructure resilience against climate change and natural disasters is prompting engineering firms to innovate in disaster-proof design and construction methods.

These trends highlight the engineering industry's adaptation to the evolving technological landscape and societal needs.

Success Factors

The success of an engineering firm hinges on several critical elements.

Technical expertise and the ability to deliver complex projects on time and within budget are fundamental. Firms with a track record of successful project completion can build a strong reputation in the industry.

Innovation in engineering solutions and staying ahead of technological advancements can significantly differentiate a firm in a competitive market.

Strategic partnerships and collaborations can enhance the firm's capabilities and access to new markets.

Client relationships and customer service are paramount; firms that maintain clear communication and understand their clients' needs are more likely to secure repeat business.

Lastly, effective project management, a commitment to sustainability, and the agility to adapt to industry changes are essential for the long-term success of an engineering firm.

The Project

Project presentation.

Our engineering firm project is designed to address the complex needs of modern infrastructure and innovation. Situated in a hub of technological development, our firm will offer a comprehensive suite of engineering services, including civil, mechanical, electrical, and environmental engineering solutions. We will cater to both public and private sector clients, providing high-quality, sustainable, and cost-effective engineering designs and consultancy services.

The focus will be on leveraging advanced technology and innovative practices to deliver projects that meet the highest standards of safety, efficiency, and environmental sustainability.

Our engineering firm is poised to become a leader in the industry, contributing to the development of cutting-edge infrastructure and technology that enhance the quality of life and drive economic growth.

Value Proposition

The value proposition of our engineering firm lies in delivering state-of-the-art engineering solutions that address the evolving challenges of the 21st century. Our commitment to sustainability, innovation, and precision engineering offers our clients a competitive edge in their respective markets.

We provide a collaborative approach to project management, ensuring that our clients are involved at every stage of the design and implementation process. This ensures tailored solutions that are both practical and visionary, while also being mindful of budgetary constraints.

Our firm is dedicated to fostering long-term relationships with clients and communities, contributing to societal advancement through responsible engineering practices.

We aspire to be a cornerstone of the industry, setting new standards for excellence in engineering and making a positive impact on the world through our work.

Project Owner

The project owner is an experienced engineer with a broad vision for the future of infrastructure and technology.

With a background in managing complex engineering projects and a strong foundation in sustainable design principles, he is committed to establishing an engineering firm that stands out for its innovative solutions and client-focused approach.

Driven by a passion for excellence and a dedication to advancing the field of engineering, he is determined to lead a firm that not only meets the current demands of the industry but also anticipates future challenges and opportunities.

His commitment to ethical practices, continuous learning, and leadership in engineering makes him the ideal figure to steer this project towards making a significant impact on the built environment and society at large.

The Market Study

Market segments.

The market segments for this engineering firm are diverse and cater to various industry needs.

Firstly, there are construction companies requiring structural engineering expertise for the development of residential, commercial, and industrial projects.

Secondly, the firm serves government entities that need infrastructure planning, transportation design, and public works engineering.

Additionally, the market includes private businesses seeking to improve operational efficiencies through industrial engineering and process optimization.

Lastly, technology companies can be a significant segment, as they require innovative engineering solutions for product development and manufacturing processes.

SWOT Analysis

A SWOT analysis of this engineering firm highlights several key factors.

Strengths include a team of experienced engineers, a strong reputation for delivering quality and timely services, and the ability to handle complex projects.

Weaknesses might involve the high costs associated with acquiring advanced engineering tools and software, as well as the challenge of maintaining a skilled workforce in a competitive market.

Opportunities can be found in the growing demand for sustainable and green engineering solutions, expansion into emerging markets, and the potential for adopting new technologies like AI and IoT in engineering practices.

Threats may include economic downturns affecting construction and development projects, regulatory changes, and the rapid pace of technological change requiring constant adaptation.

Competitor Analysis

Competitor analysis in the engineering sector indicates a competitive landscape.

Direct competitors include other engineering firms, both local and international, offering similar services.

These firms compete on the basis of technical expertise, project delivery times, cost-effectiveness, and innovation.

Potential competitive advantages for our firm include specialized knowledge in certain engineering disciplines, a strong track record of successful projects, and a commitment to sustainability and ethical engineering practices.

Understanding the strengths and weaknesses of competitors is crucial for carving out a unique market position and for strategic planning.

Competitive Advantages

Our engineering firm's competitive edge is rooted in our technical proficiency and client-focused approach.

We possess a deep understanding of various engineering disciplines, enabling us to offer comprehensive solutions from concept to completion.

Our dedication to incorporating sustainable practices and the latest technological advancements sets us apart and aligns with the growing environmental consciousness in the industry.

Moreover, our commitment to clear communication and transparency with clients ensures trust and fosters long-term partnerships.

You can also read our articles about: - the customer segments of an engineering firm - the competition study for an engineering firm

The Strategy

Development plan.

Our three-year development plan for the engineering firm is designed to establish us as a leader in innovative engineering solutions.

In the first year, we will concentrate on building a strong client base by delivering exceptional engineering services and establishing a reputation for reliability and expertise.

The second year will focus on expanding our service offerings and entering new markets, particularly in areas with high demand for engineering innovation.

In the third year, we aim to solidify our presence in the industry by forming strategic partnerships with other firms and investing in research and development to stay at the forefront of technological advancements.

Throughout this period, we will adhere to our core values of precision, efficiency, and client satisfaction to ensure we meet the evolving needs of our clients and maintain a competitive edge.

Business Model Canvas

The Business Model Canvas for our engineering firm targets clients in need of specialized engineering services, including construction companies, government agencies, and technology firms.

Our value proposition is centered on providing cutting-edge engineering solutions, timely project completion, and a commitment to sustainability and safety.

We offer our services through direct contracts, consultancy, and project management, utilizing our key resources such as our team of skilled engineers and state-of-the-art design tools.

Key activities include project design, management, and implementation, as well as continuous improvement and innovation.

Our revenue streams are derived from engineering service fees, consultancy charges, and project management contracts, while our costs are mainly associated with personnel, equipment, and technology investments.

Find a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is focused on showcasing our engineering expertise and successful project portfolio.

We aim to engage potential clients by demonstrating our capability to handle complex engineering challenges and by emphasizing our commitment to sustainable practices.

Our approach includes participation in industry conferences, publication of case studies, and hosting webinars to share insights on engineering trends.

We will also foster relationships with industry influencers and leverage social media to enhance our visibility and thought leadership in the engineering sector.

Risk Policy

The risk policy of our engineering firm is designed to mitigate risks associated with project execution, client satisfaction, and regulatory compliance.

We employ rigorous project management methodologies and quality assurance processes to ensure project deliverables meet the highest standards.

We actively manage client relationships to ensure clear communication and alignment of expectations. Additionally, we maintain a robust financial strategy to manage costs effectively.

We also invest in professional indemnity insurance to protect against potential claims arising from our services. Our priority is to deliver exceptional engineering solutions while safeguarding the interests of our clients and our firm.

Why Our Project is Viable

We are committed to establishing an engineering firm that addresses the critical need for innovative and sustainable engineering solutions in a rapidly evolving market.

With our dedication to excellence, client-focused approach, and investment in technology, we are poised to make a significant impact in the industry.

We are enthusiastic about the opportunity to contribute to the advancement of engineering practices and the success of our clients' projects.

We remain adaptable to market changes and are eager to embrace the challenges and opportunities that lie ahead for our engineering firm.

You can also read our articles about: - the Business Model Canvas of an engineering firm - the marketing strategy for an engineering firm

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for an engineering firm and our financial plan for an engineering firm .

Initial expenses for our engineering firm include the acquisition of specialized software for design and simulation, investment in high-tech equipment for prototyping, office space renovation to create an optimal work environment, professional development and certifications for our engineers, as well as costs associated with brand development and strategic marketing initiatives to establish our presence in the industry.

Our revenue assumptions are based on a thorough market analysis of the demand for engineering services, taking into account the need for innovative solutions in various sectors such as construction, manufacturing, and technology.

We anticipate a steady growth in client engagements, starting with a conservative client base and expanding as our reputation for delivering high-quality engineering solutions grows.

The projected income statement outlines expected revenues from our engineering services, project costs (software licenses, materials, subcontractors), and operating expenses (office rent, marketing, salaries, etc.).

This results in a forecasted net profit that is essential for assessing the long-term viability of our engineering firm.

The projected balance sheet presents assets unique to our firm, such as intellectual property, engineering equipment, and software, as well as liabilities including loans and projected operational costs.

It provides a snapshot of the financial standing of our engineering firm at the conclusion of each fiscal period.

Our projected cash flow statement details the inflows and outflows of cash, enabling us to predict our financial needs at any point in time. This will assist us in maintaining a healthy cash balance and preventing liquidity issues.

The projected financing plan identifies the specific sources of funding we intend to tap into to cover our initial costs.

The working capital requirement for our engineering firm will be meticulously managed to ensure we have sufficient funds to support our day-to-day operations, including software and equipment purchases, inventory management, and payroll.

The break-even analysis for our firm calculates the volume of services we need to provide to cover all our costs, including initial investments, and to begin generating profits.

It will signal the point at which our firm becomes financially sustainable.

Key performance indicators we will monitor include the profit margin on our engineering services, the current ratio to evaluate our ability to meet short-term obligations, and the return on investment to gauge the efficiency of the capital we have invested in the firm.

These metrics will aid us in assessing the financial health and overall success of our engineering firm.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for an engineering firm .

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Engineering Consulting Business Plan

Without professional engineering consulting advice, any science, technology, or related business is likely not going to succeed to its full potential.

Likewise, any business needs a clear roadmap to drive it to success. A business plan will provide directions to your business like a roadmap.

Need help writing a business plan for your engineering consulting business? You’re at the right place. Our engineering consulting business plan template will help you get started.

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How to Write An Engineering Consulting Business Plan?

Writing an engineering consulting business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the whole business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your Business:

Start your executive summary by briefly introducing your business to your readers.

Market Opportunity:

Engineering consulting services:.

Highlight the engineering consulting services you offer your clients. The USPs and differentiators you offer are always a plus.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business Description:

Describe your business in this section by providing all the basic information:

Describe what kind of engineering consulting company you run and the name of it. You may specialize in one of the following engineering consulting businesses:

• Civil engineering consulting
• Mechanical engineering consulting
• Electrical engineering consulting
• Industrial engineering consulting
• Describe the legal structure of your engineering consulting company, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.

Mission Statement:

Business history:.

If you’re an established engineering consulting service provider, briefly describe your business history, like—when it was founded, how it evolved over time, etc.

Future Goals

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Market size and growth potential:

Describe your market size and growth potential and whether you will target a niche or a much broader market.

Competitive Analysis:

Market trends:.

Analyze emerging trends in the industry, such as technology disruptions, changes in customer behavior or preferences, etc. Explain how your business will cope with all the trends.

Regulatory Environment:

Here are a few tips for writing the market analysis section of your engineering consulting firm business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Engineering Consulting Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe your consulting services:

Mention the engineering consulting services your business will offer. This list may include services like,

• Engineering design & analysis
• Project management & planning
• Sustainable engineering solutions
• Technology consulting & innovation

Describe each service:

Additional services.

In short, this section of your engineering consulting plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique Selling Proposition (USP):

Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.

Pricing Strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your engineering consulting business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your engineering consulting business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & Training:

Operational process:, equipment & software:.

Include the list of equipment and software required for engineering consulting business, such as communication tools, project management software, field equipment, financial & accounting software, etc.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your engineering consulting business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founders/CEO:

Key managers:.

Introduce your management and key members of your team, and explain their roles and responsibilities.

Organizational structure:

Compensation plan:, advisors/consultants:.

Mentioning advisors or consultants in your business plans adds credibility to your business idea.

This section should describe the key personnel for your engineering consulting services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should summarize your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.

Financing Needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your engineering consulting business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

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This sample engineering consulting business plan will provide an idea for writing a successful engineering consulting plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our engineering consulting business plan pdf .

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Frequently asked questions, why do you need an engineering consulting business plan.

A business plan is an essential tool for anyone looking to start or run a successful engineering consulting business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your engineering consulting company.

How to get funding for your engineering consulting business?

There are several ways to get funding for your engineering consulting business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
• Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your business, usually online.
• Angel investors – Getting funds from angel investors is one of the most sought startup options.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your engineering consulting business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your engineering consulting business plan and outline your vision as you have in your mind.

What is the easiest way to write your engineering consulting business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any engineering consulting business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .

How do I write a good market analysis in an engineering consulting business plan?

Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry. We can categorize the process of writing a good market analysis section into the following steps:

• Stating the objective of your market analysis—e.g., investor funding.
• Industry study—market size, growth potential, market trends, etc.
• Identifying target market—based on user behavior and demographics.
• Analyzing direct and indirect competitors.
• Calculating market share—understanding TAM, SAM, and SOM.
• Knowing regulations and restrictions
• Organizing data and writing the first draft.

Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier.

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Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Mechanical Engineers Strategic Plan Template

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Mechanical engineering is all about precision, innovation, and problem-solving. To ensure your company stays ahead of the game, you need a solid strategic plan that aligns your goals and resources. That's where ClickUp's Mechanical Engineers Strategic Plan Template comes in!

This template is specifically designed for mechanical engineering companies and will help you:

• Define your long-term vision and set actionable goals
• Allocate resources efficiently to maximize productivity
• Identify and seize new opportunities for growth
• Streamline collaboration and communication across teams

Whether you're working on groundbreaking technologies or optimizing existing systems, this template will give you the roadmap to success. Get started today and revolutionize the world of mechanical engineering!

Benefits of Mechanical Engineers Strategic Plan Template

The Mechanical Engineers Strategic Plan Template provides a roadmap for success by:

• Aligning engineering projects and initiatives with the company's long-term vision and goals
• Prioritizing resources and investments to maximize efficiency and productivity
• Identifying and addressing potential risks and challenges in advance
• Enhancing collaboration and communication among team members and departments
• Facilitating continuous improvement and innovation in engineering processes and technologies
• Ensuring compliance with industry standards and regulations
• Tracking progress and measuring the success of strategic initiatives over time.

Main Elements of Mechanical Engineers Strategic Plan Template

ClickUp's Mechanical Engineers Strategic Plan template provides a comprehensive solution for managing and executing strategic plans for mechanical engineering projects.

Key elements of this template include:

• Custom Statuses: Keep track of project progress with 5 different statuses - Cancelled, Complete, In Progress, On Hold, and To Do.
• Custom Fields: Utilize 8 custom fields such as Duration Days, Impact, Progress, and Team Members to capture important project details and monitor progress.
• Custom Views: Choose from 6 different views including Progress, Gantt, Workload, Timeline, Initiatives, and Getting Started Guide to visualize project timelines, allocate resources, and track key milestones.
• Project Management: Leverage ClickUp's powerful project management features such as task dependencies, time tracking, integrations, and automations to streamline project execution and ensure successful outcomes.

How to Use Strategic Plan for Mechanical Engineers

If you're a mechanical engineer looking to create a strategic plan, follow these steps to effectively use the Mechanical Engineers Strategic Plan Template:

1. Define your objectives

Start by clearly defining your objectives and what you want to achieve with your strategic plan. Are you looking to improve efficiency, reduce costs, or develop new technologies? Identifying your objectives will help you stay focused and aligned throughout the planning process.

Use Goals in ClickUp to set specific objectives and track your progress towards achieving them.

2. Assess your current situation

Take a comprehensive look at your current resources, capabilities, and challenges. Identify your strengths, weaknesses, opportunities, and threats (SWOT analysis) to gain a deep understanding of your organization's internal and external factors that could impact your strategic plan.

Create custom fields in ClickUp to document your SWOT analysis and keep all the information organized.

3. Set strategic initiatives

Based on your objectives and assessment, develop strategic initiatives that will help you accomplish your goals. These initiatives should be specific, measurable, achievable, relevant, and time-bound (SMART goals) to ensure they are actionable and can be effectively implemented.

Use tasks in ClickUp to outline each strategic initiative and assign responsibilities to team members.

4. Determine resource allocation

Consider the resources needed to execute your strategic initiatives. This includes financial resources, human resources, technology, and equipment. Assess your current resource availability and identify any gaps that need to be addressed.

Utilize the Workload view in ClickUp to visualize resource allocation and ensure you have the necessary capacity to execute your plan.

5. Create a timeline

Develop a timeline that outlines the key milestones and deadlines for each strategic initiative. This will help you track progress, stay on schedule, and ensure that all tasks and activities are completed in a timely manner.

Use the Gantt chart in ClickUp to create a visual timeline and easily manage dependencies between tasks.

6. Monitor and evaluate

Regularly monitor the progress of your strategic plan and evaluate its effectiveness. Collect data, analyze metrics, and gather feedback to identify areas of improvement and make necessary adjustments.

Set up Automations in ClickUp to streamline data collection and reporting, making it easier to monitor and evaluate the success of your strategic plan.

By following these steps and utilizing ClickUp's features, you can effectively use the Mechanical Engineers Strategic Plan Template to drive success and achieve your engineering goals.

Get Started with ClickUp’s Mechanical Engineers Strategic Plan Template

Mechanical engineering teams can use this Strategic Plan Template to align everyone towards achieving long-term goals and driving innovation in their organization.

First, hit "Add Template" to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a comprehensive strategic plan:

• Use the Progress View to track the progress of each initiative and ensure they're on track
• The Gantt View will help you visualize the timeline and dependencies of each project
• The Workload View allows you to efficiently allocate resources and balance workloads
• The Timeline View provides a high-level overview of all projects, milestones, and deadlines
• The Initiatives View helps you keep track of individual initiatives and their progress
• Use the Getting Started Guide to familiarize yourself with the template and get started quickly
• Organize tasks into five different statuses: Cancelled, Complete, In Progress, On Hold, To Do, to keep track of progress
• Update statuses as you progress through tasks to keep stakeholders informed of progress
• Monitor and analyze tasks to ensure maximum productivity and successful execution of your strategic plan.

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Engineering Consulting Business Plan Sample

The guidelines within this sample business plan will provide you with a good overview of starting an engineering consulting business..

Related Topics

7 tips on how to become a successful entrepreneur in the construction business, construction business plan, commercial contractor business plan.

The guidelines within this sample plan will provide you with a good overview of starting an engineering consulting business. Use this example to compile your own.

1. Executive Summary

StructureAll Ltd. will be formed as a consulting firm specialising in structural engineering services. A home office in Yellowknife, NT will be established the first year of operations to reduce start up costs.

The founder of the firm is a professional engineer with eighteen years of progressive and responsible experience.

The founder, Philip Nolan, provided an initial investment towards start-up costs. Of this, more than half is required for start-up expenses while the balance is to to be placed in the company accounts as working capital.

The firm will specialise in providing three dimensional modeling and visualisation to our clients. State-of-the-art analysis and design tools will be an integral part of the business plan. Implementation of a quality control and assurance programme will provide a focus for production work.

1.1 Objectives

• Modest revenues the first year, with slow by steady growth over the next two years.
• Achieve 20% of market value at the end of the third year of operation.
• Increase gross margin significantly by the third year of operations.

1.2 Mission

Our mission is to provide clients across Canada’s North with structural engineering services for all types of buildings, from concept planning through to completion, with a highly skilled professional team working together, using common sense and practical experience.

1.3 Keys to Success

• Provide professional quality services on time and on budget.
• Develop a follow-up strategy to gauge performance with all clients.
• Implement and maintain a quality control and assurance policy.

2. Company Summary

StructureAll Ltd. is a new company which provides professional engineering design services for clients which manage, maintain, and plan for residential, commercial, and industrial type buildings.

Our focus will be the public sector market in remote communities across Canada’s North.

2.1 Company Ownership

StructureAll Ltd. will be created as a limited liability company. The company will be privately owned by Philip D. Nolan. Leslie C. Goit will also be listed as a Director.

2.2 Start-up Summary

Our start-up expenses allow for initial legal expenses, licenses, permits, stationary, specialty software, office equipment, and furniture.

In addition to these start-up costs, an initial balance will be placed in the company accounts. The software purchases include an allowance of $5,000 for AutoCADD® 2000, $1,800 for National Master Specifications, and $200 for QuickBooks® (accounting package).

Philip Nolan will contribute towards the overall start-up costs.

2.3 Company Locations and Facilities

We will establish a home office in Yellowknife, NT in order to reduce start-up costs.

The office space is estimated to be 150 square feet. We will be installing a dedicated fax line as well as a high-speed Internet connection. An interactive website will also be developed which will serve as a marketing tool.

The domain name of “structureall.com” has already been reserved.

3. Services

StructureAll Ltd. offers complete structural engineering services. We will focus on buildings with the following ‘Use and Occupancies’:

• Residential.
• Commercial.
• Industrial.

The company is ‘project’ oriented where each project involves:

• Renovations.
• Rehabilitation.
• New construction.

We offer innovative and economical design services, maintaining state-of-the-art design technology. We meet client needs on projects of all sizes and smaller, special design projects.

3.1 Competitive Comparison

StructureAll Ltd. offers their clients superior service accompanied with state-of-the-art analysis and design capabilities.

We will offer three-dimensional visualisation services to reduce the possibility of spatial conflicts with architectural elements and other engineering disciplines. In comparison, our competitors rely mostly on two-dimensional models.

We will implement a quality assurance and control program for all projects undertaken. This document will serve to focus on the standards which will be achieved and a means of measuring performance.

A systematic manner of sorting and retrieving a library of structural elements and assemblies will be implemented. Slide libraries will be available from a tool bar within AutoCADD for quick access.

We will adopt the layering standards of the American Institute of Architects (AIA). In comparison, our competitors do not have an integrated database. StructureAll Ltd. will adopt the filing systems developed by the AIA.

All project information will be tracked using an integrated database management system. All of our business tools will be year 2000 compliant.

3.2 Sales Literature

A brochure system, which covers a broad spectrum of the target market segment will be developed during the initial year of operations.

This system will be modular in nature and include many ‘boiler plate’ sections which may be edited to suit specific needs. Brochure inserts will be maintained as individual sheets to facilitate their assembly in any custom situation.

Our website will be developed the first year of operations and include a description of our services, the areas which we plan to serve, contact information, a list of representative projects, and a brief biography of Philip D. Nolan.

An Internet domain name has already been reserved for this purpose … http://www.structureall.com A series of templates will be developed for project proposals. The format for all proposals will include:

• Cover letter.
• Scope of services for each project.
• Fee (if requested).
• Firm’s qualifications to provide services (overview).
• Project Team (describes each person’s tasks and qualifications).
• Philosophy of design approach.
• Relevant experience.
• Schedule to provide services.

3.3 Service Description

• Project Consulting: Proposed and billed on a per-project and per-milestone basis, project consulting offers a client company a way to harness our specific qualities and use our expertise to develop and/or implement plans, from conceptual planning to turnover. Proposal costs will be associated with each project.
• Forensic Investigations: Proposed and billed on a per-project and per-milestone basis, our investigations will serve the public and private sector markets. We will focus on troubleshooting buildings where damage and or failure has occurred. Our reports will outline the description of the problem, the nature of the mechanism which has caused damage or failure, and a list of options for remedial action including estimated budget costs for implementation.
• Project Management: Our project management services include defining client needs, preparing bid documents, tendering, bid analysis, construction review, payment certification, contract administration, and warranty inspections. Projects include new facilities, renovations, repairs, and remodeling.
• Dispute Resolution: We draw upon our broad range of construction and contract administration experience to provide dispute resolution services, including arbitration, mediation and expert reports for litigation. This work is supported by forensic engineering services to identify the cause of failures.
• Restoration Engineering: We provide condition survey, design, and construction review services for the repair of building structures.
• Home Inspections: We will provide prospective homeowners with an assessment of the various systems in a residential home, including foundations, framing, building envelope and efficiency, mechanical systems, electrical systems, and general safety issues. We provide a photographic record along with a thorough written report.

3.4 Fulfillment

We will turn to qualified professionals to supplement computer aided design and drafting (CADD) services, specialty connection designs, and analysis support services which are areas that we can afford to contract out without risking the core values provided to the clients.

We have fostered several alliances with suppliers of structural elements, including glued laminated lumber, pre-engineered dimension lumber trusses, engineered lumber, and steel to facilitate this strategy.

In the second year of operations, we intend to secure a storefront presence in Yellowknife. At this stage, we will seek qualified northern engineering students to provide them with work experience in a structural engineering office environment.

3.5 Technology

StructureAll Ltd. will maintain complete and comprehensive Windows® based analysis tools for structural design.

An integrated computer aided design and drafting tool permits several evaluations to be made on a structure at minimal cost. StructureAll Ltd. will maintain an Internet website complete with file transfer protocol (ftp) capabilities.

3.6 Future Services

Quality Control and Assurance: Serving the needs of the welding industry, we will ensure that certified firms and their employee welders are qualified to perform specific welds in accordance with the requirements of the Canadian Welding Bureau (CWB) as a certified Welding Inspector. We are currently in the process of completing a comprehensive home study program offered through the CWB for this purpose.

There are four firms presently in the NWT which require these services in order to maintain their certification with the CWB. On-site inspections are required four times per year.

Fabrication and Detailing Drawings: Serving the special needs of steel and concrete construction, StructureAll Ltd. will be working toward offering these services to contractors in the future.

Toll-Free Communications: We will provide our clients a toll-free number to access 24 hours a day in the second year of operations.

4. Market Analysis Summary

StructureAll Ltd. will focus on traditional Architect/Engineering (A/E) contracts.

The owner will usually contract the A/E to perform planning and design services. These design services include preparation of plans, specifications, and estimates.

Construction services may be limited to occasional field visits and certain contract administration requirements.

Typically, these types of projects distribute total design fees amongst the professionals involved in accordance with the following guideline:

• Architecture Design (65%).
• Structural Design (10%).
• Mechanical Design (15%).
• Electrical Design (10%).

Our most important clients will be established architectural/engineering firms who require structural engineering services.

4.1 Market Segmentation

The market for engineering services may be summarised with the following groups:

• Established Architectural and Engineering firms: Typically, the structural portions of any building project involve a Prime Consultant who pre-selects their team members and promotes their strengths in a proposal call to prospective clients. Our strategy is to offer these established firms a viable resource from which to draw upon. We can undertake the entire structural engineering process or provide assistance to their own in-house staff.
• Territorial and Federal Governmental Departments: The Government of the Northwest Territories (GNWT) and the newly created Nunavut Territory retain consultants for a variety of purposes. We intend to position ourselves as a local firm offering expertise in consulting, project management, forensic, and restoration engineering. The Federal Government also retains consultants for similar purposes.
• Law Firms: We will market our services to the legal community to provide dispute resolution services, including arbitration, mediation and expert reports for litigation. This work is supported by forensic engineering services to identify the cause of failures.
• Contractors: We will offer design/build services to contractors for the multitude of potential projects which the Territorial Government and Nunavut Territory have recently undertaken. Contractors occasionally require structural engineers to submit sealed alternatives for equivalents to construction details.
• Municipal Governments: Remote Municipal Governments in the Territories can expect to have more autonomy with respect to infrastructure growth and development in the years to come. This initiative is part of the GNWT mandate. We will promote our services to the local municipal governments for this purpose. To attract this market potential, we will offer to train those students in each community who are interested in engineering as a career choice. On the local front, the City of Yellowknife often provides recommendations to builders and homeowners for structural engineering services related to renovations, additions, and new construction.
• Private Individuals: We will focus attention on homeowners in Yellowknife who are renovating or contemplating an addition to their residence. We will also promote home inspections to those parties contemplating the purchase of a home.
• Realtors: In conjunction with home inspections, we will make all the Realtors aware of this service.

4.2 Service Business Analysis

The following sections describe in more detail these aspects of the service business environment:

• Business Participants.
• Competition and Buying Patterns.
• Main Competitors.

4.2.1 Business Participants

The majority of consulting services cater to the needs of the Territorial Governments. The Territorial Governments operate on a budget of approximately $1,170 million per year, based on the 1998/1999 Main Estimates. Of this total, approximately $1,028 million is spent on Operating and Maintenance Expenditures while $142 million is allocated to Capital Expenditures.

Within the Capital Expenditures, Buildings and Works is a sub-category. This is the area of the annual operating budget from which all building design consultants must draw upon. Our analysis of the 1998/1999 Main Estimates indicates a total expenditure of $59,339,000.

A typical A/E contract derives fee estimates from total budgets. For this analysis, we will apply 9% as a guideline for design fees. This yields a figure of about $5,340,000 in design fees available for distribution to the consulting industry.

The major clients within the Territorial Governments include:

• Department of Education.
• Department of Transportation.
• Department of Municipal and Community Affairs.

Our competition matrix indicates a total of 102 persons within the consulting field in the Territories. This total has been subdivided into the types of positions these people hold.

Based on reasonable estimates of salary expectations including 30% burdens for administration yields a value of about $7,800,000. This figure represents an estimate of the revenues required to sustain engineering consultants in the Territories.

From this evaluation, the Territorial Governments account for close to 70% of design fees while other participants in the building marketplace account for the balance. The Territorial Governments retain consultants for the following types of buildings:

• Health Centres.
• Community Halls.
• Warehouses.

These types of buildings are constructed on a rotating basis across several communities in the NT. In addition to new construction, rehabilitation, renovations, and additions are also in demand.

Typically, the Territorial Governments issue a proposal call to consultants to service these needs. StructureAll will position itself as a Structural Sub-Consultant or resource to the Prime Consultant. StructureAll Ltd. will also promote its services as structural specialists and project managers to the Territorial Governments.

4.2.2 Competition and Buying Patterns

Pricing of projects and billing rates are surprisingly variable. In consulting at this level, it is easier to be priced too low than too high.

Clients and potential clients expect to pay substantial fees for the best quality professional advice. The nature of the billing, however, is sensitive. Clients are much more likely to be offended when a job starts at $20K and ends up at $30K because of overruns, than if the same job started at $30K or even $35K.

Clients rarely compare consultants directly, looking for two, or more, possible providers of a proposed project or job. Usually they follow word-of-mouth recommendations and either go for the job or not, rather than selecting from a menu of possible providers.

The most important element of general competition, by far, is what it takes to keep clients for repeat business.

It is worth making huge concessions in any single project to maintain a client relationship that brings the client back for future projects.

4.2.3 Main Competitors

• Ferguson Simek Clark (FSC Group): This well established architectural and multi-discipline engineering firm would be our main competitor. This firm has branch offices in Iqaluit, NT and Whitehorse, YT besides a head office located in Yellowknife, NT. Their principal strength is undertaking a project from inception through to completion under one roof. Their weakness stems from an understaffed structural engineering group. At present, there is only one structural engineer who services the needs of all their in-house architects and outside clients. The drafting aspects of any project rely upon recollection and modification of past projects typically. There is no systematic manner in which standard block libraries are maintained or updated. They underutilise the programs at their disposal for structural analysis and design.
• A.D. Williams Engineering Ltd. (ADWEL): This multi-discipline engineering firm is well established in Yellowknife. Their head office is located in Edmonton, Alberta. They can draw on additional resources from the core group as required to meet the demands of project schedules. At present, there is no resident structural engineer on staff in Yellowknife.
• Girvan and Associates: This is a small one person architectural and engineering firm which specialises in providing services for residential construction projects. Ian Girvan services the private sector mostly. It is our hope that we can form a strategic alliance to carry out consulting work jointly as needs and occasions arise.

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Engineering Consulting Business Plan

There is a business outside in which one does not do the actual work. Instead he just give some consultation. The job is simply called consultation. And there are many kinds of consultation out there. Thesis consultation. Music consultation. Marriage consultation. Party consultation. And there is an engineering consultation.You may also  financial consulting business plan examples

• 10+ Interior Design Catalog Examples
• 5+ Business Consulting Business Plan Examples

Before going deeper into the world of consultation, let us dissect first the words engineering and consultation.

Engineering Consultancy Example

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Business Planning Example

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Sample Business Plan Example

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What is engineering

In its broadest sense is the study of industries and its applications. It utilizes mathematics, technology, science and other mathematical solutions to construction works. Engineering is like writing music but in a concrete means and approach instead of an abstract approach.You may also see  business plan .

What is consultation

Consultation on the other hand is the discussion of one particular case by someone to another who is expert in the field. For example. if one wants to seek advice from someone about spiritual problem. You know where you go to, a priest. Or if you are writing a thesis, and you want some advice, then you go to someone who is and expert of the field. Or if you want to know anything about health matters, you go to a doctor in general medicine. But that is basically what consultation is about.You may also see  importance of business plans .

What an Engineering Consultant Does

So an engineering consultant’s job is to provide consultation to the general public. Informing them of the best possible action to be done in a construction work such as designing and erecting a building.You may also see  business plan guidelines examples .

Engineer vs  Architect

If you are new to the word of engineering, you may be confused if there is any difference between the two. From the looks of it, they seem to do just one thing. Construct building. But looking closely, the two jobs have really different roles in the making of a construction work. You may also like  business operational plan examples .

Architect focuses on the design of the construction. An architect is responsible for how a building, bridge, any edifice or architectural structure, should look like.

The engineer on the other hand focuses on the mathematical, that is the technical and structural side of the construction.You may also see  social media marketing plan

Both the architect and engineer can make up a good team in realizing a germ of design, the plan in the blue print.

Can engineers do what architects can do, and can architects do what engineers can do? Technically, they can. Legally, they can’t. But there are many cases where a engineers are also architects, and there are also architects who happen to be engineers, too.You may also check out  hotel business plan examples .

Does one require one another?

Generally, the standard and professional way of constructing a building requires to have both an engineer and an architect. That is the standard and the legal way of doing it. But there are many cases in which buildings, especially small houses, are constructed by just one part, either by the engineer only, without an architect. Or by an architect without an engineer. This do not happen though in big constructions such as the one found in the city.You might be interested in  market analysis business plan examples .

The blue print is where the engineer, architect put into writing in graphical design their ideas that they base in realizing the construction. It is like a business plan in the world of marketing, but in the form of a drawing, a design, a sketch, made of lines and numbers.You may also like  business plan outline with examples .

Kinds of Engineer

Originally, there were only four categories in the engineering industry.

• Mechanical, it the branch of engineering that deals with the design, construction, and use of machines
• Chemical, is the branch of engineering that deals with the design and operation of industrial chemical plants
• Civil,  is the branch of engineering that looks for ways on how people can live a convenient life or to make our living condition less difficult to live.You may also check out  implementation plan examples .
• Electrical, is the branch of engineering that deals with electricity and its technologies.

Now, engineering has increased to at least six.

• Management, this is the kind of engineering that combines the general kinds of engineering (technical and structural) with business.You may also like  company plan examples .
• Geotechnical, is the branch of engineering that focuses on the rock formation, the roads, soil, pathways, highways, and the likes.

But wait, the number of engineering categories has increased in numbers recently, and there can be around, at least, 40 of them now, (and counting.) But there may not be a need for us to mention all of them. But you have the basic idea of what engineering is in general.You may also check out  advertising plan examples .

Consulting Engineer Example

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Steps to Becoming an Engineering Consultant

1. earn a degree in engineering.

Obviously, you need to have a degree to become an engineer. It is like the idea of selling, before you can sell something, you need to have something to sell. And before you can be a consultant, you need to know about the things your client expected from you. And you can only do that if you study engineering. Of course, you can be a consultant in engineering without a degree, but that will not sound legal.You may also see  importance of business plans .

2. Gain Work Experience and Training

At the start of your career, you need to have experiences. Engineering theories are necessary, but so do with experience. You can be a consultant even without much background of experience. But you may loose in the competition. But like getting a degree, it takes patience and time to gain experience. Consider it as an investment. You can start by working for someone, either as full time engineer, or may just an assistant.You may also see  business plan guidelines examples .

3. Become a Licensed Professional Engineer

Getting a degree is great. Kudos to you. But getting a license is another thing. And getting one is not that difficult if you are not that lazy in terms of studying. The fact that you are able to finish the degree, which means you have gone through plenty of study, it means that you can pass the board exam easily.

4. Start Your Own Consulting Firm

If you already have those three, you are an engineer, you have some experience, and you are now have a license, your next step is to have your own independent corporation. It does not have to be that big. A small office will do. Advertising matters. But that is another discussion. You may also check out  implementation plan examples .

5. Get a Master’s Degree or Ph.D.

Great, you have those first four steps. You have your own firm now, but need to shine, you need to be on top of the competition. And the way to do that is to get an MA or a PhD. It would also be great if the members of your team have a certificate. That way, you are yourself convinced that you have a good, strong team. You might be interested in  annual plan examples .

Advantages of Hiring an Engineering Consultant

There is a an advantage when hiring a professional. One is you can trace his background.

1. Consultant fees.

Expensive. Yes it is expensive. Hiring an expert can be expensive. But, you can be assured that what you pay will return to you. The cost that you have spent will become an investment in the long run. Why, because you are getting a quality service, quality product, expert level skills. And the output of what you get will last longer than if you just do it the cheap method. You may also see  coffee catering business plan

2. A fresh outside perspective.

With an engineering consultant, you are assured that the services you get are the latest ones. And you have a perspective other than your own. That can be a great advantage.

3. Experience and intelligent advice.

Bear in mind, that you are hiring a professional, licensed engineer. You can be assured that the output of his works is exceptional, professional.You may also like  quality plan examples .

4. Specialized skill.

If you have particular concepts in mind that you want to realize, you have the choice to get someone with a specialized skill. If you do the construction planning yourself, chances are it may not be the best available there is. Remember, there are many kinds of engineering. You just need to know what specific service you are looking for, because there can be a specific engineer for that particular service. You might be interested in  daily plan examples .

5. Ready made business plan.

If you hire an engineering consultant, you do not have to think of anything  else. He will do the planning for you.

Disadvantages of Not Hiring a Consultant

The problem with not hiring a professional consultant is quality.  You can compromise with anything else, but not with quality. Engineering is about construction. And construction is about buildings. And buildings is about people staying in a place. The compromise is safety. And safety is the one thing that an engineer prioritizes over anything else. If the one constructing the building does not have that vision, and if that is not his priority, then that is just a waste of money. If you hire a professional engineer, you spend so much money, but it will return in the long run because the quality of the building will last longer. You may also see  consulting business plan.

Engineering Consulting Example

Consulting Engineer Sector Example

Business Plan

Proposal as the stepping stone in a business plan.

A proposal is necessary before making a business plan. As an engineer, you can deal with your clients without making some proposals. But it is not all the case wherein clients come to you. There will be times where in you will have to be aggressive in purporting your engineering business firm to prospective clients.

A portfolio in engineering means the projects that the engineer or the business firm has made. If you have a portfolio, it would not be difficult to make a business plan because the portfolio will the the thing, the portfolio will explain the kind of engineering services you are offering. You may also see  strategic plan examples .

Marketing may not be your domain as a mainstream engineer, unless you are in a management engineering. But if you want to increase in you business as engineer, you need to know a bit about marketing.

1. Connection. Connection is a key element in marketing. If you are not connected to people, you will never grow in your business. You may also see  free business plans .

2. Flyer. One way to connect with the audience is by giving them flyers or brochures. It is just a little thing, but it means something.

3.Advertisement. One way to advertise your engineering business firm, is through TV, radio, and the Internet.

The business of engineering consultation is a good business, if you can establish a good relationship with the audience.You may also see  event project plans .

Consulting Engineering Firm Example

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Construction Program Business Plan Example

Engineering Entrepreneurship Example

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So what is a good engineering business plan?

1. strategy and vision.

A good engineering business plan must include a vision. A vision that supports and realizes the goals and intention of the clients. And to realize this vision, it has to have some strategies.

2. Standardization

To meet standards, it must follow correct procedures in every transaction. These are the standards as required by the different government agencies that monitors culture, security, health.

3. Timeframe

Timeframe is observed so that deadlines are met, but without compromising quality of work.

Quality is achieved not just by the use of materials but also the kind of people that are part of the team. If your materials are good, but you do not have an excellent team, then the quality of materials will just be wasted in the output.You may also like  business operational plan examples .

5. Teamwork

But an excellent team is nothing if the members have no cooperation. Teamwork is about one member knowing what he is supposed to do without the need to be in conflict with the rest of the team.

6. Customer Interaction

But no matter how you have a good and quality team if you have no interaction, or if you have no connection with the audience, prospective customers, clients, then no business will happen.You may also see  annual plan examples .

Engineering business or business in engineering is about building relationships. And building relationship is made easier if understood in the mechanics of engineering. It is reaching out to the audience, and making sure they will stay. It is about doing quality projects for the clients, and being consistent, and even going beyond quality.You might be interested in  market analysis business plan examples .

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Engineering Consulting Business Plan

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StructureAll Ltd.

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

StructureAll Ltd. will be formed as a consulting firm specializing in structural engineering services. A home office in Yellowknife, NT will be established the first year of operations to reduce start up costs. The founder of the firm is a professional engineer with eighteen years of progressive and responsible experience.

The founder, Philip Nolan, provided an initial investment towards start-up costs. Of this, more than half is required for start-up expenses while the balance is to to be placed in the company accounts as working capital.  

The firm will specialize in providing three dimensional modeling and visualization to our clients. State-of-the-art analysis and design tools will be an integral part of the business plan. Implementation of a quality control and assurance program will provide a focus for production work.

1.1 Objectives

• Modest revenues the first year, with slow by steady growth over the next two years.
• Achieve 20% of market value at the end of the third year of operation.
• Increase gross margin significantly by the third year of operations.

1.2 Mission

Our mission is to provide clients across Canada’s North with structural engineering services for all types of buildings, from concept planning through to completion, with a highly skilled professional team working together, using common sense and practical experience.

1.3 Keys to Success

• Provide professional quality services on time and on budget.
• Develop a follow-up strategy to gauge performance with all clients.
• Implement and maintain a quality control and assurance policy.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

StructureAll Ltd. is a new company which provides professional engineering design services for clients which manage, maintain, and plan for residential, commercial, and industrial type buildings. Our focus will be the public sector market in remote communities across Canada’s North.

2.1 Company Ownership

StructureAll Ltd. will be created as a limited liability company. The company will be privately owned by Philip D. Nolan. Leslie C. Goit will also be listed as a Director.

2.2 Start-up Summary

Our start-up expenses allow for initial legal expenses, licenses, permits, stationary, specialty software, office equipment, and furniture. In addition to these start-up costs, an initial balance will be placed in the company accounts. The software purchases include an allowance of $5,000 for AutoCADD® 2000, $1,800 for National Master Specifications, and $200 for QuickBooks® (accounting package).

Philip Nolan will contribute towards the overall start-up costs.

2.3 Company Locations and Facilities

We will establish a home office in Yellowknife, NT in order to reduce start-up costs. The office space is estimated to be 150 square feet. We will be installing a dedicated fax line as well as a high-speed Internet connection. An interactive website will also be developed which will serve as a marketing tool. The domain name of “structureall.com” has already been reserved.

StructureAll Ltd. offers complete structural engineering services. We will focus on buildings with the following ‘Use and Occupancies’:

• Residential.
• Commercial.
• Industrial.

The company is ‘project’ oriented where each project involves:

• Renovations.
• Rehabilitation.
• New construction.

We offer innovative and economical design services, maintaining state-of-the-art design technology. We meet client needs on projects of all sizes and smaller, special design projects.

3.1 Competitive Comparison

StructureAll Ltd. offers their clients superior service accompanied with state-of-the-art analysis and design capabilities. We will offer three-dimensional visualization services to reduce the possibility of spatial conflicts with architectural elements and other engineering disciplines. In comparison, our competitors rely mostly on two-dimensional models.

We will implement a quality assurance and control program for all projects undertaken. This document will serve to focus on the standards which will be achieved and a means of measuring performance.

A systematic manner of sorting and retrieving a library of structural elements and assemblies will be implemented. Slide libraries will be available from a tool bar within AutoCADD for quick access. We will adopt the layering standards of the American Institute of Architects (AIA). In comparison, our competitors do not have an integrated database.

StructureAll Ltd. will adopt the filing systems developed by the AIA. All project information will be tracked using an integrated database management system. All of our business tools will be year 2000 compliant.

3.2 Sales Literature

A brochure system, which covers a broad spectrum of the target market segment will be developed during the initial year of operations. This system will be modular in nature and include many ‘boiler plate’ sections which may be edited to suit specific needs. Brochure inserts will be maintained as individual sheets to facilitate their assembly in any custom situation.

Our website will be developed the first year of operations and include a description of our services, the areas which we plan to serve, contact information, a list of representative projects, and a brief biography of Philip D. Nolan. An Internet domain name has already been reserved for this purpose … http://www.structureall.com

A series of templates will be developed for project proposals. The format for all proposals will include:

• Cover letter.
• Scope of services for each project.
• Fee (if requested).
• Firm’s qualifications to provide services (overview).
• Project Team (describes each person’s tasks and qualifications).
• Philosophy of design approach.
• Relevant experience.
• Schedule to provide services.

3.3 Service Description

Project Consulting : Proposed and billed on a per-project and per-milestone basis, project consulting offers a client company a way to harness our specific qualities and use our expertise to develop and/or implement plans, from conceptual planning to turnover. Proposal costs will be associated with each project.

Forensic Investigations : Proposed and billed on a per-project and per-milestone basis, our investigations will serve the public and private sector markets. We will focus on troubleshooting buildings where damage and or failure has occurred. Our reports will outline the description of the problem, the nature of the mechanism which has caused damage or failure, and a list of options for remedial action including estimated budget costs for implementation.

Project Management : Our project management services include defining client needs, preparing bid documents, tendering, bid analysis, construction review, payment certification, contract administration, and warranty inspections. Projects include new facilities, renovations, repairs, and remodeling.

Dispute Resolution : We draw upon our broad range of construction and contract administration experience to provide dispute resolution services, including arbitration, mediation and expert reports for litigation. This work is supported by forensic engineering services to identify the cause of failures.

Restoration Engineering : We provide condition survey, design, and construction review services for the repair of building structures.

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3.4 Fulfillment

We will turn to qualified professionals to supplement computer aided design and drafting (CADD) services, specialty connection designs, and analysis support services which are areas that we can afford to contract out without risking the core values provided to the clients.

We have fostered several alliances with suppliers of structural elements, including glued laminated lumber, pre-engineered dimension lumber trusses, engineered lumber, and steel to facilitate this strategy.

In the second year of operations, we intend to secure a storefront presence in Yellowknife. At this stage, we will seek qualified northern engineering students to provide them with work experience in a structural engineering office environment.

3.5 Technology

StructureAll Ltd. will maintain complete and comprehensive Windows® based analysis tools for structural design. An integrated computer aided design and drafting tool permits several evaluations to be made on a structure at minimal cost.

StructureAll Ltd. will maintain an Internet website complete with file transfer protocol (ftp) capabilities.

3.6 Future Services

Quality Control and Assurance : Serving the needs of the welding industry, we will ensure that certified firms and their employee welders are qualified to perform specific welds in accordance with the requirements of the Canadian Welding Bureau (CWB) as a certified Welding Inspector. We are currently in the process of completing a comprehensive home study program offered through the CWB for this purpose.

There are four firms presently in the NWT which require these services in order to maintain their certification with the CWB. On-site inspections are required four times per year.

Fabrication and Detailing Drawings : Serving the special needs of steel and concrete construction, StructureAll Ltd. will be working toward offering these services to contractors in the future.

Toll-Free Communications : We will provide our clients a toll-free number to access 24 hours a day in the second year of operations.

Market Analysis Summary how to do a market analysis for your business plan.">

StructureAll Ltd. will focus on traditional Architect/Engineering (A/E) contracts. The owner will usually contract the A/E to perform planning and design services. These design services include preparation of plans, specifications, and estimates.

Construction services may be limited to occasional field visits and certain contract administration requirements. Typically, these types of projects distribute total design fees amongst the professionals involved in accordance with the following guideline:

• Architecture Design (65%).
• Structural Design (10%).
• Mechanical Design (15%).
• Electrical Design (10%).

Our most important clients will be established architectural/engineering firms who require structural engineering services.

4.1 Market Segmentation

The market for engineering services may be summarized with the following groups:

• Established Architectural and Engineering firms : Typically, the structural portions of any building project involve a Prime Consultant who pre-selects their team members and promotes their strengths in a proposal call to prospective clients. Our strategy is to offer these established firms a viable resource from which to draw upon. We can undertake the entire structural engineering process or provide assistance to their own in-house staff.
• Territorial and Federal Governmental Departments : The Government of the Northwest Territories (GNWT) and the newly created Nunavut Territory retain consultants for a variety of purposes. We intend to position ourselves as a local firm offering expertise in consulting, project management, forensic, and restoration engineering. The Federal Government also retains consultants for similar purposes.
• Law Firms : We will market our services to the legal community to provide dispute resolution services, including arbitration, mediation and expert reports for litigation. This work is supported by forensic engineering services to identify the cause of failures.
• Contractors : We will offer design/build services to contractors for the multitude of potential projects which the Territorial Government and Nunavut Territory have recently undertaken. Contractors occasionally require structural engineers to submit sealed alternatives for equivalents to construction details.
• Municipal Governments : Remote Municipal Governments in the Territories can expect to have more autonomy with respect to infrastructure growth and development in the years to come. This initiative is part of the GNWT mandate. We will promote our services to the local municipal governments for this purpose. To attract this market potential, we will offer to train those students in each community who are interested in engineering as a career choice. On the local front, the City of Yellowknife often provides recommendations to builders and homeowners for structural engineering services related to renovations, additions, and new construction.
• Private Individuals : We will focus attention on homeowners in Yellowknife who are renovating or contemplating an addition to their residence. We will also promote home inspections to those parties contemplating the purchase of a home.
• Realtors : In conjunction with home inspections, we will make all the Realtors aware of this service.

The Potential Market Chart and the Market Analysis Table are based on percentages which each of these groups could contribute to the services offered. This manner of describing the potential market is more appropriate for this type of business. As can be seen, the Established Architectural/Engineering firms account for 65% of the potential market with the other participants claiming the balance in smaller proportions.

4.2 Service Business Analysis

The following sections describe in more detail these aspects of the service business environment:

• Business Participants.
• Competition and Buying Patterns.
• Main Competitors.

4.2.1 Business Participants

The majority of consulting services cater to the needs of the Territorial Governments. The Territorial Governments operate on a budget of approximately $1,170 million per year, based on the 1998/1999 Main Estimates. Of this total, approximately $1,028 million is spent on Operating and Maintenance Expenditures while $142 million is allocated to Capital Expenditures.

Within the Capital Expenditures, Buildings and Works is a sub-category. This is the area of the annual operating budget from which all building design consultants must draw upon. Our analysis of the 1998/1999 Main Estimates indicates a total expenditure of $59,339,000. A typical A/E contract derives fee estimates from total budgets. For this analysis, we will apply 9% as a guideline for design fees. This yields a figure of about $5,340,000 in design fees available for distribution to the consulting industry.

The major clients within the Territorial Governments include:

• Department of Education.
• Department of Transportation.
• Department of Municipal and Community Affairs.

Our competition matrix indicates a total of 102 persons within the consulting field in the Territories. This total has been subdivided into the types of positions these people hold. Based on reasonable estimates of salary expectations including 30% burdens for administration yields a value of about $7,800,000. This figure represents an estimate of the revenues required to sustain engineering consultants in the Territories.

From this evaluation, the Territorial Governments account for close to 70% of design fees while other participants in the building marketplace account for the balance. The Territorial Governments retain consultants for the following types of buildings:

• Health Centres.
• Community Halls.
• Warehouses.

These types of buildings are constructed on a rotating basis across several communities in the NT. In addition to new construction, rehabilitation, renovations, and additions are also in demand.

Typically, the Territorial Governments issue a proposal call to consultants to service these needs. StructureAll will position itself as a Structural Sub-Consultant or resource to the Prime Consultant.

StructureAll Ltd. will also promote its services as structural specialists and project managers to the Territorial Governments.

4.2.2 Competition and Buying Patterns

Clients rarely compare consultants directly, looking for two, or more, possible providers of a proposed project or job. Usually they follow word-of-mouth recommendations and either go for the job or not, rather than selecting from a menu of possible providers.

The most important element of general competition, by far, is what it takes to keep clients for repeat business. It is worth making huge concessions in any single project to maintain a client relationship that brings the client back for future projects.

4.2.3 Main Competitors

• Ferguson Simek Clark (FSC Group) : This well established architectural and multi-discipline engineering firm would be our main competitor. This firm has branch offices in Iqaluit, NT and Whitehorse, YT besides a head office located in Yellowknife, NT. Their principal strength is undertaking a project from inception through to completion under one roof. Their weakness stems from an understaffed structural engineering group. At present, there is only one structural engineer who services the needs of all their in-house architects and outside clients. The drafting aspects of any project rely upon recollection and modification of past projects typically. There is no systematic manner in which standard block libraries are maintained or updated. They underutilize the programs at their disposal for structural analysis and design.
• A.D. Williams Engineering Ltd. (ADWEL) : This multi-discipline engineering firm is well established in Yellowknife. Their head office is located in Edmonton, Alberta. They can draw on additional resources from the core group as required to meet the demands of project schedules. At present, there is no resident structural engineer on staff in Yellowknife.
• Girvan and Associates : This is a small one person architectural and engineering firm which specializes in providing services for residential construction projects. Ian Girvan services the private sector mostly. It is our hope that we can form a strategic alliance to carry out consulting work jointly as needs and occasions arise.

Strategy and Implementation Summary

StructureAll Ltd. will focus on the Western Arctic area initially. We believe the creation of Nunavut will still provide opportunities for structural engineering services; however a separate Association of Professional Engineers for Nunavut is anticipated.

We are also licensed to practice in the Yukon Territories, although we have not planned for any aggressive marketing in this area.

The target client is usually an Architect Manager.

5.1 Competitive Edge

StructureAll Ltd. offers the following competitive edge:

• State-of-the-art modeling, design, analysis, and drafting capabilities.
• Quality control and assurance program.
• An Internet website (http:\\www.structureall.com, and e-mail, [email protected]).

5.2 Marketing Strategy

The sections which follow describe in more detail our positioning statement, pricing, and promotion strategy.

5.2.1 Promotion Strategy

We will be using the Internet extensively in our sales promotion. Together with a well targeted direct mail and e-mail campaign, we will make all the major players in the marketplace aware of our presence.

We will focus our limited advertising budgets to promote community sponsored events. We will also offer technical services at discount rates to non-profit organizations.

When travelling to remote communities, we will contact the local principals in elementary and high schools offering them a speaker on structural engineering as a career choice.

StructureAll Ltd. will apply for the Northwest Territories Business Incentive Policy. This policy is directed at those firms resident in the Northwest Territories and provides incentives with respect to evaluation of services.

5.2.2 Positioning Statement

For established engineering and architectural firms in Yellowknife who require structural engineering sub-consultant services, StructureAll Ltd. offers a competitive and economical option. Projects may be delegated to StructureAll Ltd. directly or arrangements can be made to supplement and assist their own in-house staff.

5.2.3 Pricing Strategy

Most consulting work is billed on an hourly basis to pre-determined levels dictated by project schedule milestones. We have assigned a rate of $80/hour for basic consulting services and $40/hour for drafting services. These are conservative values for the consulting market. We have used conservative unit rates to remain more competitive.

5.3 Sales Strategy

Success in a consulting market is focused on client service and typically translates into repeat business. We will avoid the pitfall of buying a project, only to find the scope of work far exceeds renumeration.

When a potential client questions the cost of a project, we explain the benefits and refer to our proposal which clearly outlines the tasks to be performed. If the budget is for less money, then we must offer less service.

Billing rates are not negotiated. One exception to this rule would be for not-for-profit organizations where marketing can be traded for services in kind.

5.3.1 Sales Forecast

The following table and chart summarizes forecasted sales. We expect sales to remain at a constant level after three months of operation. We predict the first two months of operations will be slow. Revenues will be limited while a generic quality management plan is formulated and basic office administration tasks are completed.

Direct unit costs for the first year have been set at less than one-third of unit revenues, which yields a high gross margin. In the third year of operations, we plan to increase gross margin as a result of providing a more efficient service to our clients.

Our unit rate for basic consulting services has been set at $80/hour. This is a conservative assumption based on published salary guideline levels for engineering professionals. Our unit rate for CADD services is $40/hr.

5.4 Milestones

The accompanying table lists important program milestones, with dates and managers in charge, and budgets for each. The milestone schedule indicates our emphasis on planning for implementation.

What the table doesn’t show is the commitment behind it. Our business plan includes complete provisions for plan-vs.-actual analysis, which will be updated monthly to compare the variance and plan for course corrections.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

StructureAll Ltd. will initially have one employee who is also acting as general manager. Phil Nolan will be responsible for all daily operations in the firm.

6.1 Management Team

Philip Nolan, P. Eng. has eighteen years of progressive and responsible engineering experience. Phil will be responsible for soliciting clients, marketing, promotion, and all daily aspects of running the business. He graduated from McGill University in Montreal, Quebec in 1981 with a Bachelor of Engineering degree.

In 1982, Phil moved to Yellowknife where he worked for the GNWT as a Project Engineer. Phil gained experience working on a host of community development and transportation related projects, including Little Buffalo River Bridge, Bridge Inspections, and Bridge Rehabilitations. Phil was with the GNWT for six years.

From 1988 to 1991, Phil worked for Foundation Co. of Canada Ltd., a large multi-national contracting firm as a project engineer where he gained experience in the use of explosives at the Magpie River Hydro Development and continued gaining experience on several bridge projects.

In 1992, Phil worked for Reid Crowther & Partners Ltd. out of Edmonton, Alberta on a host of bridge design and rehabilitation projects, including the Whitemud Ravine Pedestrian Bridges.

From 1993 to 1995, Phil was self employed as a private consultant offering services in quality control and assurance for building construction where he gained considerable experience in Preserved Wood Foundations and their use in residential and commercial applications.

In May of 1995, Phil joined the Ferguson Simek Clark (FSC) team of professionals and was responsible for all structural design, including quality control and assurance services for schools, arenas, health centres, and other buildings.

Phil will be the principal designer of all projects at StructureAll Ltd. Phil is currently working on a contract basis for Ferguson Simek Clark.

6.2 Management Team Gaps

StructureAll Ltd. will require administrative support to ensure clients are billed on a timely basis. We will be looking to an outside source for ensuring the books are kept in order and up to date.

Self sufficiency in computer aided drafting capabilities will require Phil to become more familiar with AutoCADD 2000 as a drafting tool. We will invest in continuing education to fulfill this need. We have accounted for this in the business plan.

6.3 Personnel Plan

The following table summarizes our personnel expenditures for the first three years, with compensation increasing from $50K the first year to $70K in the third. The detailed monthly personnel plan for the first year is included in the appendix.

Financial Plan investor-ready personnel plan .">

The financial plan which follows summarizes information regarding the following items:

• Important Assumptions.
• Key Financial Indicators.
• Break-Even Analysis.
• Projected Profit and Loss.
• Projected Cash Flow.
• Projected Balance Sheet.
• Business Ratios.

7.1 Important Assumptions

The financial plan depends on important assumptions, most of which are shown in the following table as annual assumptions. The monthly assumptions are included in the appendix.

Some of the more important underlying assumptions are:

• We assume a strong economy, without major recession.
• We assume the creation of Nunavut will not dramatically change the delivery of engineering services.
• Interest rates, tax rates, and personnel burdens are based on conservative assumptions.

7.2 Key Financial Indicators

The following benchmark chart indicates our key financial indicators for the first three years. We foresee modest growth in sales and a marginal reduction in operating expenses for the years presented.

7.3 Break-even Analysis

The following table and chart summarize our break-even analysis. With our estimated monthly fixed costs, the table and chart below show the number of billing targets per month we will need to cover our costs. We don’t really expect to reach break-even until a few months into the business operation.

The break-even assumes unit variable costs at 30 percent of unit revenue. The unit revenue value of $60/hour is an aggregate measure for all the types of services which will be offered.

7.4 Projected Profit and Loss

The gross margin for a service-based business is a reflection of the efficiency at which those services are offered. In the initial year of operations, we have targeted a high gross margin. This is not an unreasonable figure for a consulting business. For the second and third year of operations, we have targeted slightly increased gross margins to indicate overall improved efficiency at service delivery. Net Profit/Sales is determined to be modest the first year, again increasing slightly in the second year and the third year. In order to fulfill the requirements of the mission statement and simultaneously reduce start up costs, we have made arrangements to purchase software on quarterly repayment options:

• Staad-Pro Core is a structural engineering design and drafting suite offered through Research Engineers Ltd. This program fulfills the need to carry out three-dimensional analysis and design requirements and is a key feature of the business plan. This program supports Canadian codes and standards. We have contacted the authorized Canadian reseller (Detech Corporation Ltd.) and will made arrangements to purchase this tool on four payments of $1,550 over the first year of operations.
• Errors and Omissions Insurance is required for all consultants working on behalf of the Territorial Governments. Through Falconair Insurance, we have received a quotation of $1,200/year for this coverage. The first year’s premium payments are included in the start-up costs, with subsequent years indicated at the same annual premium.
• Website hosting fees are included as quarterly payments to Internic.com, the Web host. As part of this service, we will have at our disposal file transfer protocol capabilities. This feature permits us to place electronic media on the Internet for our clients and strategic allies.

7.5 Projected Cash Flow

Cash flow projections are critical to our success. The monthly cash flow is shown in the illustration, with one bar representing the cash flow per month, and the other the monthly balance. The first few months are critical. It may be necessary to inject additional capital in this time-frame if the need arises. The annual cash flow figures are included here and the more important detailed monthly numbers are included in the appendix.

7.6 Projected Balance Sheet

The balance sheet in the following table shows managed but sufficient growth of net worth and a sufficiently healthy financial position. The monthly estimates are included in the appendix.

7.7 Business Ratios

Business ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC) code 8711, Engineering Services, are shown for comparison.

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