Kimela J. Thomas started TKS Electrical Services, Inc. five years ago. The electrical business is highly competitive and is also a male dominated business segment. She proved her metal with having successfully completed operations for these past five years. Initially, Kim focused her business on small scale home construction; small commercial construction work; and residential, commercial, and governmental housing repair and service. She is a Master Electrician and wanted to take her business to the next level. In order to successfully bid on larger contracts, she needed to have a stable work force in place to handle the increased work load and the capital reserve to pay employees until receivables could be converted to cash. Therefore, she needed a working capital loan and a line of credit in order to finance her operations through this critical growth stage. Once established with larger contracts, debt service and all operational expenses could be successfully funded from operating capital as determined by cash flow projections. A counselor at the Small Business Development Center at Del Mar College, provided a business plan that focused on these cash flow issues. Once the amount of capital needed to expand the operations was determined, a full business plan was developed for submission to the local banks.
Kim was successful in obtaining a loan and a line of credit for her business expansion. When the funding for employees was in place, Kim completed the bid process on several large jobs. To her surprise, she immediately got one large contract. As a result, six new full time jobs were created and she was able to continue her employment of the existing four employees. Once the doors were opened, she was able to bid on even more jobs. Within one week she was awarded another large contract. The start and complete times for these jobs were compatible for her work flow capabilities and only one additional full time worker was required. She is well on her way to becoming a major competitor in the local electrical contracting market.
Kim’s current goal is to buy land and construct a facility to house TKS operations.