High-voltage vision

 

At a pivotal moment with only a small sum and a bold choice ahead, George Rivera stepped away from job security and into entrepreneurial uncertainty. “It was my wife and my son who really inspired me to quit my job,” George recalls.

He and his wife, Margarita, launched Doc Watts, which has since become integral to central Florida and is eyeing broader horizons. Now nearly two decades on, their commitment to employee welfare is energized through initiatives like the Everyday 401(k) by J.P. Morgan.

“We really think it’s important for people to save for their future, and we want to provide that opportunity,” Margarita says. And as Chase for Business customers, they’re making it happen.

 

Success on his own terms

With the vision of a self-made future charged with potential, George transformed his passion for electrical work into a leading contracting company. Recalling his decision, he says, “I was running a multimillion-dollar project for my former employer, when I thought: ‘I can do this for myself.’”  

The initial phase was fraught with challenges, particularly in building credibility and securing customers. “The challenges were really getting new jobs and having people believe in us,” he says. Making the task more daunting were George’s youth and his lack of experience as a business owner.

However, his determination and unique approach to customer service set Doc Watts apart early on. “I was eager — I was hungry,” says George, whose commitment to excellent service and completion of tough jobs quickly and efficiently helped the company stand out.

As George and Margarita navigated these early hurdles, they laid the foundation for what would become a thriving business. Behind it all? George’s hands-on experience and expertise and Margarita’s steadfast support and adaptability in roles she had never imagined for herself.

 

What’s in a name?

Doc Watts’ distinctive approach to branding and marketing has played a pivotal role in its success. The company’s memorable name originated from a brainstorming session with a close friend. “It was very corny but catchy,” George recounts. From there, the identity grew.

After landing on the name, George adopted a unique marketing tactic that involved wearing a lab coat during jobs. The uniform did more than distinguish the company from competitors — it reinforced the “Doc” aspect of the brand.

“I’m a very shy guy. ... It took everything in my soul to do that, but I knew I had to provide,” George explains. These authentic touches created a memorable and trusted brand that continues to stand out in the market.

 

Wired for growth

“Managing growth can be hard. It’s like building the plane while you’re flying it,” George says. The aim is sustainable expansion. “We want to grow, but we want to grow right.”

Over time, Doc Watts expanded from smaller households to larger commercial projects. The transition was strategic, a reflection of George’s vision for the company. “I always saw it,” he says. “I was never a residential guy.”

His wife’s involvement in the business added a new dimension. “I didn’t follow the career path that I originally thought,” says Margarita, who had planned on a career in psychology. Her role evolved significantly, becoming integral to the company’s operations and growth. Together, she and George grew the business into what it is today — expanding their operational footprint across central Florida and setting their sights even farther.

 

Amplifying business finance

Doc Watts’ relationship with Chase began at a crucial time in the company’s growth. “We were having a hard time trying to get funding, but with Chase it was like things just flowed,” Margarita says. Transitioning from another financial institution, George and Margarita found in Chase a partner that understands and actively supports their business vision. 

Part of their switch to Chase was driven by the need for a supportive banking partner that appreciates the nuances of small business needs. Chase's role goes beyond financial assistance, extending to networking opportunities and business advice. "They’ve opened lines of credit, exposed us to other networking events," George explains, underscoring the comprehensive support they received.

 

A 401(k) for today and tomorrow

As business continued to grow with the help and guidance of Chase, George and Margarita wanted to do even more for their employees, who are such a crucial component of Doc Watts’ success.

So when Doc Watts decided to offer a retirement plan, they chose Everyday 401(k) by J.P. Morgan, and their Chase business banker introduced them to the Everyday 401(k) team.

The impact of this initiative extends beyond employee satisfaction. “It’s serving the employees and our business,” George says.

The plan offers flexibility and growth opportunities for employees to determine how much they want to save, contributing to a more stable and motivated workforce. They are also matching a portion of employee contributions into the plan. By integrating the plan with its payroll provider, Doc Watts has significantly reduced its administrative tasks for the plan. The company will also be taking advantage of the tax credits that Congress enacted to encourage small businesses to offer a retirement plan.

 

Getting ahead while giving back

Doc Watts extends its ethos of care into the community. “We’ve been very blessed, and we feel it’s super important to give back to the community and others,” Margarita says.

The spirit of giving back was poignantly evident in the company’s response to the hurricane in Puerto Rico. George and Margarita’s grandparents and George’s parents emigrated from Puerto Rico, which brought a personal element to the crisis. George recalls, “We heard the stories of no power there, so we sent two portable generators.” 

This gesture, born from a genuine desire to help, kickstarted a new business division focused on generators. For Doc Watts, philanthropy and business growth go hand in hand, reflecting a deep-seated belief in the power of positive impact.

 

Watt’s next?

George and Margarita are proud of their past and enthusiastic about their future. Evolving from a flicker of an idea to a beacon in the electrical industry, Doc Watts is a story of transformation and growth. 

George captures it well: “The satisfaction of seeing where we started to where we are now — it’s fulfilling.” As the couple look ahead, plans for expansion and innovation shine brightly on their horizon. Their hard work and vision stand as a spark of inspiration for entrepreneurs everywhere.

If you’re ready to explore whether a 401(k) is a good fit for your business, or if you’re interested in shifting your current 401(k) to the Everyday 401(k) by J.P. Morgan, we’d love to help. Just enter your details in our short form and one of our Retirement Plan Specialists will reach out to you.