Electrical Company Service Installing EV Charging Stations - Sustainable Business Plan

This sustainable business plan outlines the installation of EV charging stations by an electrical company using solar panels. It covers target segments, competitor analysis, skills analysis, funding sources, resource utilization, and management information systems.

CW2
Sustainable Business
Plan

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAINBODY...................................................................................................................................1
Proposed future business.............................................................................................................1
Target segment.............................................................................................................................1
Examination of competitors.........................................................................................................2
Skills analysis of Electrical Installations and Maintenance Company........................................3
2-year cash flow analysis, profit and loss as well as break even analysis...................................3
Determining as well as choosing appropriate source for finance................................................3
Plan for utilising resources..........................................................................................................4
Type of business and management information system for selected organisation......................4
Vision of organisation..................................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6
Appendix..........................................................................................................................................7

INTRODUCTION
Business plan has been termed as detail document that shows aim and objectives of
business along with to meet them in systematic manner by optimum utilisation of resources. It
guides, entrepreneur to conduct various activities like finance, human resources and marketing.
(Bridges and Eubank, 2020). To define the business plan, the selected idea is installing EV
charging and solar panels in an electrical company to bring sustainability in country. It is a new
concept which drive attention of people to adopt eco-friendly practices in their life to reduce
pollution or its effect. The company is Electrical Installations and Maintenance Company which
install solar panels to generate electricity in order to supply power to people.
This report covers proposed future business, targeted customers, evaluation of competitors,
skills analysis, profit and loss, sources of funding, plan for utilising the resources, management
information system as well as vision of company.
MAINBODY
Proposed future business
Electrical Installations and Maintenance Company generate the idea to provide services
like EV Charging stations by using solar panels in order reduce the problems of people who have
electric vehicles. It is very effective business plan which helps people to charge their cars while
travelling on long route. It enables them or other business firms who sell electric cars to increase
their revenue and customer base (He and Ortiz, 2021). In UK, people are preferring to buy
electric cars but they faced problems regarding charging it while traveling. The owner conducts
deep research about this topic and formulate a business idea to provide services like Charging
stations. It also helps the government to reduce pollution in environment as well as increase more
power by installing solar panels on each stations. The owner must use intellectual property rights
to patent their ideas in order to maintain their business plan original and secure. The registered
their company name and new invention in government documents in order to gain trade mark on
their company logo or services.
Target segment
Owner of Electrical Installations and Maintenance Company take decisions to target B2B
and B2C segment which allow them to spread awareness about their services and reach target
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audience. To determine and set target segment the management of Electrical Installations and
Maintenance Company can use STP model. It is analytical tool which help management to set
their target related to customers or market. In demographic area of segmentation, the
professionals decided to target people among the age group of 16 to 45 who drive and use
electrical cars on daily basis for travelling (Long, 2020). These people prefer to buy electric car
in order to save money of petrol and reduce pollution in country. In targeting the management
decided to the target segment or area in which they operate their business. Such as they launch
their stations in main area of country where is huge traffic and rush to provide charging services
to large number of people. On the highway and in main city so the people use this facility for
their betterment while travelling. In positioning the marketers make plan to provide multiple
point in each stations and provide full information how to use it by placing poster consisting
details near each point.
Unique selling proposition of Electrical Installations and Maintenance Company is they
provide EV charging services to people to charge their vehicles by using solar energy which also
contribute in sustainability.
They can also use social media and digital marketing by posting pics, details and video on
profile of company to spread awareness about their new business concept in all over the country
which increase their brand value or customer base.
Examination of competitors
The owner of Electrical Installations and Maintenance Company conduct research about
the policies or strategies of competitors. Like they collect data form government reports
regarding companies who make solar plates, panels or business in this field. They determine their
pricing strategy to set the price of their services. They also conduct industry analysis in order to
determine the current situation of market. Like power of suppliers which is low due to low
witching cost and large number of available to get raw material to make solar panels and points.
They also determine the threat for new entrants in electrical industry which is high due to
dynamic in nature as well as huge investment or innovation required. So the management of
Electrical Installations and Maintenance Company must make effective their services to attract
customers. They also determine the bargaining power of customers in electrical industry which
is low due to single product available in market so owner can fix the higher price for their
services. At last they determine the threat from substitute in electrical industry which is low
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because different product and services provided by each company and Electrical Installations and
Maintenance Company.
Skills analysis of Electrical Installations and Maintenance Company
It is very important for owner of Electrical Installations and Maintenance Company to
conduct deep research related to skills which is required to install EV electrical system in
vehicles and solar panels (Rossignoli and Lionzo, 2018). It helps them to provide effective
product in market in order to increase customer base and profitability. It is essential for
management of Electrical Installations and Maintenance Company to analyse skills in order to
hire best candidate to run their business. \
Electrical skills- it includes problems solving, customer service skills which is essential to
install solar panels to reduce the problems of people related to power. In Electrical Installations
and Maintenance Company, management must hire people who has better knowledge about
wiring, angles, control system and pressure to conduct the task effectively.
Technical skills- It is related to the proper knowledge to perform a task and use various
tools reacted to power supply, electricity and other. In Electrical Installations and Maintenance
Company, HR manager must hire those people who have knowledge to work in software,
technical machines and tools to provide services like EV charging stations.
2-year cash flow analysis, profit and loss as well as break even analysis
Mentioned in Appendix
Determining as well as choosing appropriate source for finance
There are various sources available in the market related to funds by which owner of
Electrical Installations and Maintenance Company can raise amount to invest in their business
plan that are as follows-
Personal savings- It is the amount which an entrepreneur invests in new startup by their
personal saving which is earned by them from previous job, Electrical Installations and
Maintenance Company, owner can also take money from their relatives or family in order to
provide EV charging services to people by solar energy (Salah, Abuhelwa and Bashir, 2021). In
recent time, there is huge trends of electrical cars or vehicles which increase the demand of
charging points.
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Bank loan- The management of Electrical Installations and Maintenance Company can
also take loan from bank to start their new business plan which is EV charging station through
solar panels. It is very effective source for fund which helps the owner to start their business idea
to maximise their profitability or customer base (Hu and Kee, 2022).
Plan for utilising resources
It is essential for the owner and entrepreneur of Electrical Installations and Maintenance
Company to utilise the available resources in order to break down their installation cost.
Business functions Cost
Raw materials £ 5000
Advertisement £ 2000
Wages £ 5000
Transportation £ 4000
Productions £ 4000
Total £ 20.000
Type of business and management information system for selected organisation
It is a vital one type or private limited of business organisation which operate separately.
The entrepreneur starts their business as new concept in order to introduce new innovation as
electric cars for future betterment (Seker and Kahraman, 2021).
Management information system has been determined as innovative procedure like the
Electrical Company cloud storage and inventory management system to maintain and record raw
material for fast installation as well as reduce cost.
Vision of organisation
 The vision of the company is to provide more power to people in sustainable manner as
well as increase their profitability or market value (Singh and Balachandra, 2019).
 The main aim of company to increase employees, vans, accreditations and specialisation
to order to increase net profit to take warehouse for storage on lease.
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CONCLUSION
As per the above information, it has been concluded that entrepreneur must make effective
business plan like installing EV charging and solar panels in order to produce more power and
electricity. Management of electric company can use STP model to determine their target
segment to meet their goals. By using Porters five forces they can determine the strengths and
weaknesses of competitors to make effective strategies. The management can use bank loan,
crowd funding and venture capital to raise funds for installing new business plan. By making
effective budget they can utilise their resources to maximise their profitability. They must clearly
design the vision of their company in order to increase the experience of company.
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REFERENCES
Books and Journals:
Bridges, T. and Eubank, D., 2020. Leading Sustainably: The Path to Sustainable Business and
how the SDGs Changed Everything. Routledge.
He, J. and Ortiz, J., 2021. Sustainable business modeling: The need for innovative design
thinking. Journal of Cleaner Production. 298. p.126751.
Hu, M.K. and Kee, D.M.H., 2022. SMEs and business sustainability: Achieving sustainable
business growth in the new normal. In Research Anthology on Business Continuity and
Navigating Times of Crisis (pp. 1036-1056). IGI Global.
Long, T.B., 2020. Sustainable Business Strategies. In Decent Work and Economic Growth (pp.
975-985). Cham: Springer International Publishing.
Rossignoli, F. and Lionzo, A., 2018. Network impact on business models for sustainability: Case
study in the energy sector. Journal of cleaner production. 182. pp.694-704.
Salah, W.A., Abuhelwa, M. and Bashir, M.J., 2021. The key role of sustainable renewable
energy technologies in facing shortage of energy supplies in Palestine: Current practice
and future potential. Journal of Cleaner Production. 293. p.125348.
Seker, S. and Kahraman, C., 2021. Socio-economic evaluation model for sustainable solar PV
panels using a novel integrated MCDM methodology: A case in Turkey. Socio-
Economic Planning Sciences. 77. p.100998.
Singh, M. and Balachandra, P., 2019. Microhybrid electricity system for energy access,
livelihoods, and empowerment. Proceedings of the IEEE. 107(9). pp.1995-2007.
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Appendix
Profit and Loss statement
Particulars
Revenue (Amount in GBP)
2020
(Amount
in £)
2021
(Amount
in £)
Sales 5000 5500
Service revenue 1300 1328
Other revenue 1000 1500
Total Revenue 7300 8328
Expenses 2020 2021
Advertisement 1000 1200
Rent 1000 1000
Salaries and wages 2000 2200
Utilities 500 710
Transportation 250 350
Other expenses 900 1023
Total Expenses 5650 6483
EBITDA 1650 1845
Depriciation 350 360
Income tax expenses 750 820
Net Income 550 665
Cash flow statement
Particulars (Amount in GBP)
2020
(Amount
in £)
2021
(Amount
in £)
Sales 5000 5500
Service Revenue 1300 1328
Advertisement 1000 1200
Rent 1000 1000
Salaries and wages 2000 2200
Utilities 500 700
Transportation 250 350
Depriciation 350 360
Income tax expenses 750 820
Net Cash from operations 450 198
Cash From Investment activities
Other revenue 1000 1500
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Other expenses 900 1023
Net Cash Flow from Investment
Activities 100 477
Cash From Financial activities
Net Cash Flow from Business Activities 550 675
Break even analysis
Break Even Analysis
Break Even Point - Fixed Cost/Price per cost-Variable Cost
Particulars (Amount in GBP)
Value (2020)
(Amount in £)
Value (2021)
(Amount in £)
Sales Unit 13 16
Sales Price Per unit 384.61 343.75
Variable Cost Per unit 184.61 181.43
Fixed Cost 257.69 222.5
Break Even Point Calculations
Particulars Value (2020) Value (2021)
Sales Price Per unit 384.61 343.75
Variable Cost Per unit 184.61 181.43
Contribution per Unit 200 162.31
Break Even Point (Quanity) 1.28845 1.37083359
Fixed Cost
Rent 1000 1000
Salaries and Wages 2000 2200
Depreciation 350 360
Total 3350 3560
Variable Cost
Utilities 500 710
Transportation 250 350
Other Expenses 900 1023
Income Tax Expenses 750 820
Total 2400 2903
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