Are you about starting a solar farm business? If YES, here is a complete sample solar farm business plan template & feasibility study you can use for FREE.
Okay, so we have considered all the requirements for starting a solar farm. We also took it further by analyzing and drafting a sample solar farm marketing plan template backed up by actionable guerrilla marketing ideas for solar farm businesses. So let’s proceed to the business planning section.
Why Start a Solar Farm?
Solar energy has become one of the most reliable sources of power supply especially in the operation of lifts in commercial buildings. The market for solar energy is increasing and it is indeed still open for new investors to come in. so if you are thinking of starting a business that is into the production of technological components, then you should consider starting your own solar panel manufacturing company.
In as much as the market for solar energy is growing all over the globe, you have got to adopt a workable marketing strategy to be able to make good sales and huge profits. You can go into contract agreements with those who manufacture products that use solar (panels) energy so that you can be in charge of supplying solar panels to them.
You can also make more sales if you work with your customers to produce customized solar panels that can suit their purposes. There are regions where solar energy sells like wild fire and you can only discover these regions if you carry out proper research.
The average person out there is familiar with solar panels mounted on the rooftop of our house to solar farms but the truth is that both the solar panels in our homes and solar farms serves the same purpose but in varying degrees.
The solar panels in our homes are single panels mounted on the roof that gets energy from the sun (solar) and converts it into Alternating Current (AC) for use in the house, while solar farms which is also known as Photovoltaic Power are a large area of land where solar tracking towers are mounted to provide power to a community (usually a large number of people).
No doubt, building a solar panel business is a capital intensive business as estimate shows you need at least 1 million dollars to start a solar farm; but the Returns on Investment (ROI) is worth it in the long run.
If you don’t carry out a proper research before venturing into this type of business, you might end up losing your investment. It is imperative that you conduct a research so that you are be able to know what is required in the market, how to source for materials, where to get the right kind of staffs, and loads of other information that will be useful to you.
A Sample Solar Farm Business Plan Template
- Business Overview
Solar panel is rapidly gaining huge market acceptance all over the globe simply because of how effective and useful it has become to most people. Solar panel is simply a device that helps convert sunlight into electrical energy and stores it for use. There are loads of areas where you can use solar energy and that is the reason why a lot of inventions that is being powered by solar panel (energy) keep propping up.
You can use solar energy to power automobile, solar energy to power street lights; you can use solar energy to power your house (all of your electronics and electrical appliances inclusive), you can use solar energy to virtually power device that requires electrical energy to function et al.
Using a solar farm is a cheaper option for people since they don’t have to pay for the cost of installation of the panels, and the regular cost of maintenance for the panel, they just have to pay the annual fee to the solar farm company and enjoy electricity throughout the year. This is also a very much cheaper option than using electricity from power companies.
Basically, a solar farm is a large land area where multiple ground-mount solar tracking towers are installed. Usually it can be on a working farm or other open and mostly unimproved land. The Solar Farm Developers industry is made up of companies that mainly install and construct solar power grid systems, which is known as solar farms, on a utility scale. The work executed within the industry include new work, reconstruction, rehabilitation and repairs et al.
Statistics has it that an estimated 85% of U.S. residents can neither own nor lease solar panel systems because their roofs are physically unsuitable for solar or because they live in multi-family housing. At least 52 projects are under development in at least 17 states, and at least 10 states encourage their development through policy and programs.
The Solar Farm Developers industry has galloped ahead in recent years as a result of the rapid technological developments in our world, falling solar panel costs and favorable government policy. Going forward, the demand for solar panel installation is projected to continue to experience rapid growth.
With the ongoing government aid in the form of tax credits and rebates, along with technological advances in solar energy, as well as the rising popularity of solar power purchase agreements (SPPAs), the revenue generated in the industry is expected to grow sharply.
Statistics has it that The Solar Farm Developers industry in the United States of America, is worth $10bn, with an estimated growth rate of 46.5 percent. There are about 80 registered and licensed solar farm developer businesses in the United States and they are responsible for employing about 9,027 people. First solar is the leading player in this industry; they have the largest market share.
Most people who have stake in the industry will quite agree that the solar farms industry has come to stay and of course it is one industry that plays key roles not only in the business world and in our homes simply because it is one eco – friendly way of generating power.
Over and above, The Solar Farm Developers industry is very open to any investor who have the required start – up capital acquired the required trainings, skills and perhaps professional certifications to start his or her own solar farm business.
Solar Farm Business Plan – Executive Summary
Clean Energy Technologies®, LLC is a U.S based and standard solar farm company. We have been able to secure a standard and well – positioned vast acres of land in the outskirt of San Diego – California. We are a solar farm company that is also into the manufacturing of solar panels, solar panel installation, maintenance and repair that is set to compete in the highly competitive The Solar Farm Developers industry not only in San Diego – California, but also throughout the United States market.
Clean Energy Technologies®, LLC will offer services such as Crystalline silicon solar power plants, Thin-film solar power plants, CSP trough power plants, CSP tower power plants, Crystalline silicon solar power plant construction, Thin-film solar power plant construction, CSP power plant construction and other related solar panel installation, maintenance and repair services.
Our business goal is to become one of the leading solar farms in the United States and we will make sure that we do all we can to compete favorably with leaders in the industry including solar panel manufacturing companies and other companies that are into the production of eco – friendly energy.
Our workers are going to be selected from a pool of certified and highly experienced solar panel / solar energy repair engineers and technicians in and around San Diego – California and also from any part of the United States of America as the business grows. We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with leading solar farms and solar panel installation, maintenance and repair companies in the United States and throughout the globe.
At Clean Energy Technologies®, LLC, our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for all our partners, employees and for our clients.
Clean Energy Technologies®, LLC is founded by Engr. Shannon Carson a solar energy engineer per excellence who graduated from Illinois Institute of Technology (B.Engr.) and his friend and business partner for many years Moses Carpenter (B.Sc. Business Management). They have a combine experience that can help them build Clean Energy Technologies®, LLC to favorably compete with other leading solar farms in the United States of America.
- Our Product and Services
Clean Energy Technologies®, LLC was established with the aim of maximizing profits in The Solar Farm Developers industry. We want to compete favorably with the leading solar farms and of course solar panel installation, maintenance and repair companies in the United States which is why we have but in place a competent quality assurance team that will ensure that every repairs carried out or related services rendered meet and even surpass our customers’ expectations.
We will work hard to ensure that Clean Energy Technologies®, LLC is not just accepted in San Diego – California but also in other cities in the United States of America. Our products and services are listed below;
- Supply of solar energy
- CSP trough power plants construction
- CSP tower power plants construction
- Crystalline silicon solar power plant construction
- Thin-film solar power plant construction
- CSP power plant construction
- Other related solar panel installation, maintenance and repair services
Our Vision Statement
Our vision is to establish a standard and world class solar farm and solar panel installation, maintenance and repair company whose services and brand will not only be accepted in San Diego – California but also in other cities in the United States of America.
- Our Mission Statement
Our mission is to provide solar energy and professional solar panel installation, maintenance and repair services and other related services that will assist businesses, individuals, households and non-profit organizations in ensuring that their solar panels are always in good shape to produce the required power output. We want to build a solar farm and solar panel installation, maintenance and repair company that can favorably compete with other leading brands in The Solar Farm Developers industry.
- Our Business Structure
Clean Energy Technologies®, LLC, is a solar farm and solar panel installation, maintenance and repair company that intend starting small in San Diego – California, but hope to grow big in order to compete favorably with leading solar energy companies and solar panel installation, maintenance and repair companies in the industry both in the United States and on a global stage.
We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.
At Clean Energy Technologies®, LLC, we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer
- Head, Technical Services
- Human Resources and Admin Manager
- Sales and Marketing Executive
- Solar Panel Installation, Repair and Maintenance Engineers / Technicians (10)
- Client Service Executive
Roles and Responsibilities
Chief Executive Officer – CEO:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Head, Technical Services:
- Serves as project manager of the organization; works directly with employees
- Develops strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
- Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
- Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
- Builds company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
- Maintains quality service by establishing and enforcing organization standards.
- Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
- Makes certain that the technical department perform efficiently, coordinate employee efforts, and facilitate communications between management and solar panel installation, repairs and maintenance engineers and technicians
- Ensures that the organization work in line with international best practices.
Human Resources and Admin Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily office and factory activities.
Sales and Marketing Manager
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyze the volumes of transactional data generated by customer
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Creates new markets cum businesses for the organization
- Empowers and motivates the sales team to meet and surpass agreed targets
Accountant / Cashier:
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for Clean Energy Technologies®, LLC
- Serves as internal auditor for Clean Energy Technologies®, LLC.
Solar Panel Installation, Repair and Maintenance Engineers (2) and Technicians (8)
- Works with the team in projects such as crystalline silicon solar power plants construction, CSP trough power plants construction, CSP tower power plants, thin-film solar power plant construction, CSP power plant construction
- Handles solar panel and accessories sales and supply for the organization, roof mounted panel installation, solar tracking panel installation, ground mounted panel installation, Fixed rack panel installation, and monitoring services
- Handles other related solar panel installation, maintenance and repair services
Client Service Executive
- Welcomes clients and potential clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the creative director in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
Solar Farm Business Plan – SWOT Analysis
Clean Energy Technologies®, LLC engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured solar farm and solar panel installation, maintenance and repair business that can favorably compete in the highly competitive Solar Farm Developers industry in the United States and the world at large.
Part of what the team of business consultant did was to work with the management of our organization in conducting a comprehensive SWOT analysis for Clean Energy Technologies®, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Clean Energy Technologies®, LLC;
Aside from the fact that we have a vast acre of land in a strategic location in the outskirt of San Diego for our solar farm, Our core strength lies in the power of our team; our workforce. We have a team of certified and highly trained and experience solar panel installation, maintenance and repair engineers and technicians, a team with excellent qualifications and experience in various niche areas in The Solar Farm Developers industry. Aside from the synergy that exists in our carefully selected workforce, our services will be guided by best practices in the industry.
As a new solar farm and solar panel installation, maintenance and repair company in San Diego – California, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated and highly competitive Solar Farm Developers industry; that is perhaps our major weakness. Another weakness is that we may not have the required cash to pump into promoting our business the way we would want to.
No doubt, the opportunities in the Solar Farm Developers industry is massive considering the support from the government and of course the number of individuals and corporate organizations who are now switching over to alternative energy such as solar energy. As a solar farm cum solar panel installation, maintenance and Repair Company, we are ready to take advantage of any opportunity that is available in the industry.
Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new solar farm or solar panel installation, maintenance and repair company in same location where our target market exist and who may want to adopt same business model like us.
Solar Farm Business Plan – MARKET ANALYSIS
- Market Trends
If you are keeping tabs of happenings in the Solar Farm Developers industry, you will agree that the demand for construction of utility-scale solar power projects has skyrocketed many thanks to substantial government support. So also, technological advancements in solar panel construction will definitely lead to a greater supply of low-cost panels, making solar panels more accessible for individual consumers, also lowering demand.
Another trend is that, The Solar Farm Developers industry has galloped ahead in recent years as a result of the rapid technological developments in our world, falling solar panel costs and favorable government policy. In the coming years, demand for solar panel installation is projected to continue growing.
Ongoing government aid in the form of tax credits and rebates, along with technological advances in solar energy, as well as the rising popularity of solar power purchase agreements (SPPAs), are expected to help revenue grow sharply going forward.
The demand for new solar farms has been backed primarily by government incentives, such as the Solar Investment Tax Credit (ITC), which encouraged private investment into solar technologies by offering tax credits. With these incentives, solar farms and other solar-power development projects have been built at accelerating rates over the past five years. Because solar technology is not yet cost-competitive with other types of energy used in electricity generation, such as coal and natural gas, government incentives have been the driving force behind industry growth.
- Our Target Market
Before starting our solar farms cum solar panel installation, maintenance and repair business in San Diego – California, we conducted a market survey and feasibility studies and we are certain that there is a wide range of both corporate and individual clients who cannot successfully run their businesses without the services of solar panel installation, maintenance and repair companies.
In view of that, we have created strategies that will enable us reach out to various corporate organizations and households who we know can’t afford to do without our services. Below is a list of the people and organizations that we have specifically market our products and services to;
- Banks, Insurance Companies and other related Financial Institutions
- Blue Chips Companies
- Corporate Organizations
- Manufacturers and Distributors
- Real Estate Owners, Developers, and Contractors
- Research and Development Companies
- The Government (Public works department)
- Schools (High Schools, Colleges and Universities)
- Sport Facilities
- Religious Organizations
- Television Stations
- Printing Press (Publishing Houses)
- Branding and Advertising agencies
- Individuals and households
Our Competitive Advantage
Surviving in the business world as a solar farm cum solar panel installation, maintenance and repair company requires more than, your expertise, knowing how to deliver standard repairs and maintenance jobs but also how to network with key people that matters; decision makers that can decide who will get a solar energy, solar panel supply, installation, repair and maintenance contract.
Without a shadow of doubt, there are loads of big time investors (Solar Panel Manufacturing Companies), that have a stake in The Solar Farm Developers industry; but one thing is certain, there is room big enough to accommodate the big solar panel installation, maintenance and repair companies and the small solar panel installation, maintenance and repair companies.
What smaller solar pan\el installation, maintenance and repair companies need to do to survive in the industry is to concentrate on providing solar panel sales, repair, maintenance and installation services to households, individuals, estates, communities, schools, hospitals and hotels et al before bidding for big solar panel supply, installation, repair, and maintenance contracts from large corporations and government agencies (Public Works Department).
We are quite aware that to be highly competitive in the Solar Farm Developers industry / the solar panel installation, maintenance and repair services industry means that you are not only expected to be able to deliver consistent and highly reliable solar panel supply, installation, repair and maintenance jobs, but you must be able to meet set targets. No one would want to continue to hire your services if don’t always meet up with the target date of completion of projects.
Our competitive advantage lies in the power of our team; our workforce. We have a team of certified and highly trained and experience solar panel installation, maintenance and repair engineers and technicians, a team with excellent qualifications and experience in various niche areas in the solar panel installation, maintenance and repair service industry. Aside from the synergy that exists in our carefully selected workforce, our services will be guided by best practices in the industry.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups solar panel installation, maintenance and repair businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
Solar Farm Business Plan – SALES AND MARKETING STRATEGY
We are mindful of the fact that there is stiffer competition in the Solar Farm Developers industry / the solar panel installation, maintenance and repair services industry; hence we have been able to hire some of the best marketing experts to handle our sales and marketing.
Our sales and marketing team will be recruited based on their vast experience in the solar panel installation, maintenance and repair services industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of Clean Energy Technologies®, LLC.
Our corporate goal is to grow Clean Energy Technologies®, LLC to become one of the top 10 solar farms / solar panel installation, maintenance and repair services brands in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in San Diego – California but also in other cities in the United States of America.
Clean Energy Technologies®, LLC is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our solar energy company cum solar panel installation, maintenance and Repair Company by sending introductory letters alongside our brochure to individuals, households, corporate organizations, religious organizations and key stake holders.
- Promptness in bidding for solar panel supply, installation, repair, and maintenance contract from the government and other cooperate organizations
- Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
- List our business on yellow pages ads (local directories)
- Attend relevant international and local expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver excellent services
- Leverage on the internet to promote our business
- Engage direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
Sources of Income
Clean Energy Technologies®, LLC is established with the aim of maximizing profits in The Solar Farm Developers industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.
Clean Energy Technologies®, LLC will generate income by offering the following solar panel installation, maintenance and repair related services;
- Supply of solar energy
- Crystalline silicon solar power plant construction
- Thin-film solar power plant construction
- CSP power plant construction
- Sale and distribution of solar panel and accessories
- Servicing, maintenance and repair of solar panels
- Roof mounted panel installation
- Solar tracking panel installation
- Ground mounted panel installation
- Fixed rack panel installation
- Monitoring services
- Other related solar panel installation, maintenance and repair services
One thing is certain, there would always be corporate organization, government agencies, households and individual who would need the services of solar panel installations, maintenance and repair companies.
We are well positioned to take on the available market in The Solar Farm Developers industry and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our solar energy cum solar panel installation, maintenance and repair company to enviable heights.
We have been able to critically examine the solar energy cum solar panel installation, maintenance and repair market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in San Diego – California.
Below is the sales projection for Clean Energy Technologies®, LLC, it is based on the location of our business and of course the wide range of our services and target market;
- First Year-: $750,000
- Second Year-: $1.5M
- Third Year-: $2.5M
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same solar energy and solar panel installation, maintenance and repair services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Our Pricing Strategy
At Clean Energy Technologies®, LLC we will keep the prices of our products and services below the average market rate for all of our customers by keeping our overhead low and by collecting payment in advance from corporate organizations who would hire our services. In addition, we will also offer special discounted rates to all our customers at regular intervals.
We are aware that there are some one – off jobs or government contracts like solar panel / energy supply, installation, repair, and maintenance services which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.
- Payment Options
At Clean Energy Technologies®, LLC, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;
- Payment by via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
- Payment via mobile money
- Payment with cash
In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.
Solar Farm Business Plan – Publicity and Advertising Strategy
We have been able to work with our in house brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice for both corporate clients and individual clients in the whole of the United States and beyond which is why we have made provisions for effective publicity and advertisement of our solar energy and solar panel installation, maintenance and repair company.
Below are the platforms we intend to leverage on to promote and advertise Clean Energy Technologies®, LLC;
- Place adverts on both print (newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events / programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our services
- Install our Bill Boards on strategic locations all around San Diego – California
- Engage in road show from time to time in targeted neighborhoods
- Distribute our fliers and handbills in target areas
- Contact corporate organizations by calling them up and informing them of Clean Energy Technologies®, LLC and the services we offer
- List our solar energy company in local directories / yellow pages
- Advertise our solar energy company in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.
Solar Farm Business Plan – Financial Projections and Costing
When it comes to launching a solar energy farm, you should be ready to spend loads of cash because it is indeed a capital intensive business.
When it comes to setting up a business, the tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a standard solar panel installation, maintenance and repair company; it might differ in other countries due to the value of their money.
However, this is what it would cost us to set up Clean Energy Technologies®, LLC in the United of America;
- Business incorporating fees in the United States of America will cost – $750.
- The budget for Liability insurance, permits and license will cost – $3,500
- Acquiring a vast acre of land large enough to contain the numbers of massive solar panels will cost – $400,000.
- The amount required to purchase the needed solar energy equipment, tool box and repair equipment – $350,000
- Equipping our office facility (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $30,000
- Amount required to purchase the needed software applications to run our business – $ 3,500
- Launching an official Website will cost – $500
- Amount need to pay bills and staff members for at least 2 to 3 months – $250,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
Going by the report from the market research and feasibility studies conducted, we will need about $1.5 Million to successfully set – up a medium scale but standard solar energy company in the United States of America.
Generating Funding / Startup Capital for Clean Energy Technologies®, LLC
Clean Energy Technologies®, LLC is a business that will be owned and managed by Engr. Shannon Carson and his friend and business partner for many years Moses Carpenter. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings and sale of his stocks
- Generate part of the start – up capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $500,000 (Personal savings $300,000 and soft loan from family members $200,000) and we are at the final stages of obtaining a loan facility of $1 Million from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
SOLAR FARM BUSINESS GROWTH: Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Clean Energy Technologies®, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our solar panel installation, maintenance and repair services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Clean Energy Technologies®, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Securing a vast acres of land for our solar farm: Completed
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founders: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the business: Completed
- Purchase of repair and installation tools and equipment: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the Needed furniture, office equipment, software applications, electronic appliances and facility facelift: In Progress
- Creating Official Website for the business: In Progress
- Creating Awareness for the business: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in various industries: In Progress