Are you thinking of starting an automobile service shop in the near future? If so, have you asked the three questions of WHY customers are going to come to you? WHERE your business can thrive? And WHO you are going to turn to for extra funds? Most startups in various industries fail big time because they do not have the answers for these crucial questions that plays a vital role in laying the foundation for long-term success. In this article we will look into some effective ways in which you can address these issues and establish yourself as a solid enterprise in no time.
Determine how you are going to attract customers
In an era where there are about 1.3 billion vehicle owners in the world (16.5%), the demand for mechanics is ever-increasing, and in response to this, more and more vehicle service stations are also being established. For your business to thrive in the market and overcome the intense competition, there needs to be a Unique Selling Point that the potential customers will be attracted to. Your strategy could be to provide services at the lowest price, at the most convenient locations, using the most experienced personnel or using the best technology such as graco pumps Australia and hot melt equipment. Defining your trade in this manner will make life much simpler for you as an entrepreneur and it will ensure customer satisfaction to a great extent.
Select the best location
Much like in real estate, for any business to succeed, it must pay a proper level of attention to location, location and location again. Unlike most other aspects of an enterprise, if you don’t get this right the first time, the costs of relocating which can be unbearably huge will set you back in a very unfortunate manner. It is always advisable to lease a building which has previously been used as a vehicle service station, so that you’ll be able to save on most of the costs related to infrastructure, and use these funds to purchase essentials such as workshop benches for sale. Be sure to select an area with an adequate number of vehicle users and it will be ideal to locate your business in close proximity and accessibility to main roads or highways.
Define your sources of funding
Like in any business, you will have to incur the mammoth costs related to equipment, building rent, insurance, meeting legal requirements and compensating the staff members in your auto repair enterprise and these can often be scarily overwhelming. As an entrepreneur, you must figure out just how much money you are going to need for the future and how you are going to acquire it. Determine the kind of financial intermediary you are going to get involved with such as banks or Small Business Administration and mention these details in your business plan, which will be requested by any party before providing funds for your enterprise.