Working capital is almost always the killer.
Extending any significant customer credit increases your working capital need, directly.
Finding a patron, or two, or three who can keep the wolf from the door is what makes or breaks most start-ups.
Other than that, a red hot market can do wonders.
Jumping in because of a need for income usually ends up badly. In most areas there are more journeymen willing to take the plunge than the market can ever satisfy.
It may be worth your trouble to sound out retiring age electricians. They may be very happy to sell out. Such transitions can work well for everybody.
The alternative is for the new guy to drive someone else out of business, or for the market to grow. Growth is usually flat and established players are usually too much competition. Under pricing them just sends you to the poorhouse.
