Financial Modelling Tool for Electricians
Running a successful electrician business requires more than just technical skills – you need to stay on top of your finances to ensure steady cash flow and sustainable growth. Brixx gives you the financial tools to forecast income, plan for expenses, and make data-driven decisions to strengthen your business.
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Model your electrician business in Brixx - see how quickly your finances can make sense!
We are working on creating this template in Brixx. Although it isn’t available just yet, you can follow the guidance below to help get started. If you need any further assistance, don’t hesitate to get in touch – we’re here to help!
Project Setup
- Project name: Electrical Services Business
- Time period: Monthly (to track income from jobs, ongoing expenses, and financial health)
Income Components
- Component: Service Revenue
- Sub-components:
- Residential Electrical Work – Small jobs (e.g., rewiring, installations) (£3,000/month)
- Commercial Electrical Contracts – Ongoing contracts for businesses (£7,000/month)
- Emergency Callouts – Higher-priced urgent repairs (£2,500/month)
- EV Charger Installations – Growing demand for home EV chargers (£4,000/month)
- Smart Home Installations – Home automation systems (£2,000/month)
- Sub-components:
- Component: Additional Income
- Sub-components:
- Markup on Materials – Adding 20% margin to parts used (£1,500/month)
- Service Plans – Maintenance contracts for regular clients (£1,200/month)
- Referral Fees – Commission from partnerships (e.g., recommending solar installers) (£500/month)
- Sub-components:
Expenditure Components
- Component: Operational Costs
- Sub-components:
- Employee Wages – (If hiring staff) (£4,000/month per electrician)
- Subcontractor Payments – If outsourcing work (£2,500/month)
- Material Costs – Electrical wiring, fittings, switches (£5,000/month)
- Fuel & Vehicle Maintenance – Business van running costs (£800/month)
- Tool & Equipment Maintenance – Replacing and servicing tools (£500/month)
- Business Insurance – Public liability, tool cover (£1,200/year)
- Sub-components:
- Component: Administrative Costs
- Sub-components:
- Office Rent & Utilities – If renting a business unit (£1,000/month)
- Software & Tools – Accounting, job management (£150/month)
- Marketing & Advertising – Google Ads, flyers (£500/month)
- Legal & Accounting Fees – Annual financial services (£2,000/year)
- Sub-components:
Asset Components
- Component: Fixed Assets
- Sub-components:
- Business Van – (£30,000 purchase, depreciated over 5 years)
- Tools & Equipment – (£10,000, depreciated over 3 years)
- Office Equipment – Laptops, printers (£3,000, depreciated over 5 years)
- Sub-components:
- Component: Current Assets
- Sub-components:
- Cash Reserves – Starting balance + monthly surplus
- Accounts Receivable – Outstanding invoices (£8,000 in unpaid invoices at any time)
- Sub-components:
Funding Components
- Component: Loans & Financing
- Sub-components:
- Business Start-up Loan – (£20,000 at 6% interest, 5-year term)
- Vehicle Financing – (£30,000 van on 3-year lease, £600/month)
- Sub-components:
- Component: Personal Investment
- Sub-components:
- Initial Capital Injection – Personal funds (£15,000)
- Sub-components:
- Component: Future Funding (Optional)
- Sub-components:
- Equipment Leasing – Instead of outright purchases, leasing new tools as needed
- Sub-components:
Scenario Planning in Brixx
- Seasonal Demand Changes
- Model fluctuations (e.g., winter being busier for heating-related work)
- Rising Material Costs
- Simulate increased prices for copper wiring, lighting, etc.
- Business Expansion
- Forecast hiring more staff or adding new service areas
- Vehicle Breakdown
- Unexpected expense of replacing a van
Dashboard & Reporting
- Cash Flow Report
- Visualise income from jobs vs. expenses like wages and materials
- Profit & Loss Statement
- Track net profit after all costs
- Balance Sheet
- Monitor assets (tools, vehicles) and liabilities (loans)
- Custom KPIs
- Gross Margin on Jobs (Revenue – Material Cost)
- Utilisation Rate (Billable Hours / Total Work Hours)
- Return on Investment (ROI) on service plans and contracts
Who can use this Brixx template?
- Self-employed electricians
- Electrical contracting businesses
- Small trade businesses
Brixx is a great tool for:
- Anyone managing finances for an electrical business, from budgeting to investment planning
- Electricians looking to forecast income, costs, and business growth
- Contractors who need to plan for equipment purchases, staffing, or project-based work
What are the benefits for electricians?
- Tailored to service-based businesses, covering revenue from installations, repairs, and maintenance contracts
- Easily model cash flow, project income, and recurring expenses like materials, insurance, and wages
- Use clear financial projections to determine when to invest in new equipment or hire additional staff
- Model different pricing scenarios to see how rate adjustments affect profitability
- Plan ahead for tax obligations, seasonal fluctuations, and expansion opportunities
Strategic forecasting in Brixx
- Understand how pricing, demand, and seasonal trends affect revenue
- Project earnings from contract work, call-outs, and long-term service agreements
- Budget for equipment upgrades, van maintenance, and training costs
- Anticipate financial requirements for hiring employees or subcontractors
- Assess the impact of inflation and market trends on business expenses
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“We found Brixx more flexible than its competitors, and it was easy to test different scenarios.”
Martin, CinderconeGet started with the best financial projection software - today!
Financial forecasting software is crucial for electricians who want to grow their business with confidence. By predicting income, expenses, and potential investments, you can make smarter financial decisions and avoid cash flow surprises.
Brixx provides electricians with a structured way to model their finances, helping them secure loans, plan for expansion, and manage pricing strategies effectively. With decades of experience in business modelling, Brixx is the ideal tool for electricians looking to take charge of their financial future.
Start using Brixx today to power up your business planning!