Industry Expert Plans for Successful Expansion

The client contacted the Director in March 2004 as a result of an encounter at a business event in January. He was seeking assistance in developing and reviewing a business plan for expansion of his business. The client started his business in 1994 and is recognized as an expert in the Subsurface Utility Industry. His business is categorized as a “growth” business with an annual growth rate of 30%. His business identifies and maps buried utilities utilizing sophisticated instrumentation and technology. An opportunity to expand into the Northern Virginia market and a strategy to retain a major client who was acquired by a major competitor were his critical needs.

The Director acted as an advisor and business coach suggesting financial options utilizing the SBA 504 and 7a loan programs to obtain a loan of $250,000 to $300,000. He also assisted in crystallizing business strategy that enhances their strengths and develops alliances and/or partnerships to address area of weaknesses. The Director suggested a strategy in retaining his client who had just been acquired by a competitor and become a vital subcontractor to the competitor by utilizing his company’s expertise and outstanding quality service and client relationships.

The client decided to delay his expansion into Northern Virginia for 18 months and focus his resources on the expansion of his business from his competitor due to the results of his successful strategy of becoming a key subcontractor to them. His company has grown into one of the most respected companies in the Subsurface Utility Industry by employing knowledgeable staff and producing reliable and accurate results while demonstrating outstanding customer service. They plan on exceeding their $1,000,000 revenue goal within the next 18 months.