What Goes Into Crafting An Auto Repair Business Plan?
Auto repair business plans can be simple and complicated at the same time. On the surface, they’re simple—people pay you to repair their cars—but how do you work out all the details of an auto repair business plan?
Why You Need An Auto Repair Business Plan.
The ability to improvise can be a great asset. It will help you answer those tricky questions in job interviews, it will help you develop a good sense of wit, and it will certainly help you if you want to be a famous jazz saxophonist. And while improvisation will be necessary at times when operating an auto repair business, you definitely don’t want to be running the whole thing on a wing and a prayer. You’ll need to demonstrate a detailed and cohesive business plan when applying for a bank loan and you should at least have an idea of how an auto repair business plan should look when you’re applying to buy a franchise from a reputable franchisor.
How Should You Structure Your Auto Repair Business Plan?
Different businesses will have different business plans and different lenders look for different things. The US Small Business Administration lists two main kinds of business plans: traditional business plans and lean startup business plans. As auto repair businesses are rather traditional, the traditional business plan might be best. However, templates for traditional business plans often include spaces for information you won’t need to include, and, in any event, every financial institution will have their own criteria of what they want to see.
Here’s What To Include In Your Auto Repair Business Plan.
The following is a list of some of the information you should include in your auto repair business plan:
- Identify your key partnerships – Who will supply your replacement parts?
- Indicate your key activities – What methods will you use to gain a competitive advantage?
- Identify your key resources – How many staff will you hire? How much capital do you have to work with?
- Explain how you see your auto repair business’s unique value in the market.
- Explain how you will foster customer relationships. How will you communicate with them?
- Identify your customer segments – Who are your target markets? (This is pretty broad for an auto repair business.)
- Reveal your cost structure – What are/will be your key business costs? What is your spending strategy?
- Identify your revenue streams – How will you make money?
Tuffy Tire & Auto Service Utilizes Proven Auto Repair Business Plans
Tuffy helps all our new franchisees craft an auto repair business plan and we can recommend a third-party from whom you can receive financing. To learn more, please contact us via our website.Back