A very broad and extensive market base exists which, if properly pursed, can easily allow us to achieve our stated revenue / growth goals. Our targeted client base is taken from the following sectors:
All of our target market segments have buildings or facility needs which require skilled engineering work to design and implement. They need engineers who understand their needs, their budget constraints, and the legal and code requirements for their facilities' purposes and locations.
Our engineers are certified, with many years of experience in their fields, and ongoing relationships with government developers and planners, commercial developers, and local school districts throughout the Northeast. We will use these contacts to learn of new projects, develop competitive bids, and provide high-quality services to these market segments.
In addition, architectural and engineering firms often have need additional engineering consulting. Architects will always need skilled engineers to make their designs a reality, and large engineering firms sometimes have more work than they can handle.
In targeting work established architectural firms, our strategy is to offer them a viable resource from which to draw upon. We can undertake the entire mechanical, electrical, plumbing, and fire protection engineering process for their architectural projects.
The engineering, design and consulting business consists of many smaller consulting organizations and individual consultants for every one of the few dozen well-known architectural / engineering companies.
Consulting participants range from major international name-brand consultants to hundreds of individuals. One of Pyramid's challenges will be establishing itself as a "real" engineering, design and consulting company, positioned as a relatively risk-free corporate purchase.
The key element in purchase decisions made at the Pyramid client level is trust in the professional reputation and reliability of the engineering firm.
Pricing of projects and billing rates are surprisingly variable. In engineering at this level, it is easier to be priced too low than too high. Clients and potential clients expect to pay substantial fees for the best quality professional advice. The nature of the billing, however, is sensitive. Clients are much more likely to be offended when a job starts at $20K and ends up at $30K because of overruns, than if the same job started at $30K or even $35K.
Clients rarely compare consultants directly, looking for two, or more, possible providers for a proposed project or job. Usually, they follow word-of-mouth recommendations and past reputation, rather than selecting from a menu of possible providers.
The most important element of general competition, by far, is what it takes to keep clients for repeat business. It is worth making huge concessions in any single project to maintain a client relationship that brings the client back for the future projects.