Monthly Archives: February 2017

Starting your own car business

If your passions is working on cars, you may want to consider turning that passion into a career. Doing what you love makes the work days easier. Starting your own business from scratch might seem daunting, but auto repair franchises can help remove costly and confusing mistakes that would change your excitement into despair.

Hand with wrench. Auto mechanic in car repair .

Hand with wrench. Auto mechanic in car repair .

Additionally, a well-known franchise with a good reputation and strong brand in the market can help you build a customer base at the grand opening. To see this become a reality, the following steps outline what you can do to open the doors.

Select a Franchise

Contact several franchises that you might be interested in starting. Typically, they will send you a prospectus that provides details of the franchise opportunity. Review the information and schedule appointments to meet with each franchisor in person. This meeting gives you a chance to gauge professionalism and the type of support you will receive.

Write a Business Plan

Once you decide on a franchise, prepare a business plan. Opening a franchise does not eliminate this important step in starting a business. The plan should include important details such as an automotive industry overview, finances, marketing and how you will staff the business.

Obtain Financing

Getting started means getting funds. Unless you have deep pockets to invest, you will need alternative sources such as a bank loan. The Small Business Administration also has information on getting SBA-guaranteed loans.

Get Necessary Licenses and Permits

Contact the local motor vehicle department to inquire about the licenses you will need for an auto-related business. This is also another step where the SBA can provide useful information on the process of licensing and permitting new businesses. In addition, you should become familiar with OSHA standards for repairing vehicles.

Buy Insurance

Obtaining insurance is very important. Worker liability can become an issue and you need to be covered for any unforeseeable circumstance.

Buy Equipment and Hire Skilled Employees

Capital expenditures are usually high for an automotive business. This is another area where the franchisor can help with bulk buying power so you can get decent discounts on the equipment.

Of course, you will need to hire technicians and other staff. The number of employees to hire is based on the size of the franchise.

Marketing and advertising are essential to getting customers. Your investment in a franchise will really pay off because they usually provide marketing material. An established brand name regionally and nationally will do wonders in having a successful grand opening day.