1. Executive Summary

Joe's Quality Painting will be a start-up sole proprietorship in Baton Rouge, Louisiana. The business will become well known in the Baton Rouge area within two years and throughout the region in five. Joe's Quality Painting's distinctive logo, its reputation for quality service, offering the highest quality products, and its slogan, "Joe's Quality Painting-don't settle for less!" will provide a distinctive competitive edge.

The business will offer professional quality painting, stucco repair, textured coatings, and waterproofing for residential and commercial buildings. They will specialize in residential painting; however, they will acquire many commercial and new construction contracts. Joe will offer complete inspections and free estimates to all new customers.

With increasing population and housing starts in Baton Rouge, there is a need for quality painters with competitive prices. Joe's Quality Painting will enter the market and capture customers quickly. They will start their business with a barrage of advertisements that will lead to prosperous customers.

1.1 Business Opportunity

Baton Rouge, located in southern Louisiana, is a thriving community. The population has increased by 9% over the last 7 years, and it is estimated the trend will continue (Source: http://www.census.gov). Housing starts are also growing at a rapid rate. Joe's Quality Painting has the opportunity to capture a share of the market in new home and commercial painting. Also, Baton Rouge is located in an area of the country that has very brutal weather conditions. The salt air and torrential rains increase the need for repainting home and business exteriors. Joe's Quality Painting will acquire many commercial and residential contracts and will work year round.

1.2 Joe's Quality Painting Description

Joe's Quality Painting will offer high quality interior and exterior painting for residential and commercial properties. The business will provide professional quality painting, stucco repair, textured coatings, and waterproofing. Due to the continuous growth in population and construction in the Baton Rouge area, Joe's Quality Painting will be highly successful and enjoy continuous growth. It will grow from an operation of a single crew of three employees, to multiple crews within five years.

Joe's Quality Painting's predicted success and growth is based upon extensive market research demonstrating the explosive growth trend in construction in Baton Rouge. This trend, along with the limited competition in the area, offers a promising future for Joe's Quality Painting.

1.3 Financial Potential

Based on projected residential and commercial painting jobs, it is estimated that Joe's Quality Painting will have gross sales of $233,352 in its first year of operation. Gross revenue in years two and three is projected to be $243,770 and $250,931, respectively. These translate into net income of $60,000 in year one, $68,000 in year two, and $75,000 in year three.