Property Descriptions

The Business, originally founded in 2011, is a growing electrical contractor serving Florida's Gulf Coast region and based in the high-growth Bradenton/Sarasota/Lakewood Ranch area. The Business provides comprehensive electrical services across Hillsborough, Manatee, Pasco, and Sarasota Counties. Its core competencies consist of: Residential & Commercial Electrical Services, New Construction Installations, Service & Repairs, Emergency Response, Pool & Spa Electrical Systems, Custom Home Electrical, Maintenance & Troubleshooting, Commercial Project Management, Apprentice Training & Development. Their revenue mix consists of approximately 70% service (50% residential, 20% commercial), 20% new home installations, and 10% pool electrical work. With a recent commercial electrical license acquisition, The Business is positioned for significant growth in this sector and is actively pursuing higher-profile projects, including bidding on installations for prestigious local landmarks like the Ringling Museum. The Company operates from a facility featuring both office and warehouse space for operations and additional inventory storage. The Business consists of 16 employees, including the two owners, with 3 office staff and 13 electricians in the field. All employees are W-2, including 3 field supervisors (not including owners). The management team comprises five individuals - the owners and three supervisor-level employees who oversee commercial, service, and new home installations. The Business views developing the next generation of electricians as a critical mission. With recognition that for every five people exiting the electrical trade, only two are entering, it currently sponsors several apprentices in the nearby technical college program and actively participates in workforce development initiatives, receiving grants for on-the-job training. Its safety protocol is comprehensive, featuring weekly safety meetings and regular company social events to build team cohesion. All service vehicles have GPS tracking, and field technicians process billing through their phones using the Jobber CRM app, ensuring efficiency and accountability. The Company has built an outstanding reputation in the community with nearly 200 five-star Google reviews and approximately 400 A+ ratings from previous work with Angie's List. Their fleet of distinctively wrapped, bright, and colorful vans provide high visibility throughout their service area. According to IBISWorld, although high interest rates have stifled previously booming residential construction since rate hikes began in 2022, nonresidential and utility electrical work has expanded in recent years. Electricians' revenue has inched upward at a CAGR of 0.9% over the past five years and is expected to total $255.4 billion in 2024, when revenue will rise an estimated 1.3%. Profits have dropped due to rising labor and materials costs. Over the next five years, electricians' revenue will likely grow at a faster rate. As inflation has cooled, the Federal Reserve will continue to cut interest rates (having begun to do so in 2024), benefiting the housing market. Electricians will also find work in sustained renovation activity and green energy upgrades. Production and manufacturing activity will also rise, providing electricians with another booming market. Electricians' revenue is expected to expand at a CAGR of 2.3% to reach $286.1 billion in 2029.