I can help you with the buisness plan (I own / run three)but I'll leave the rest to pro detailers to advise you. I wish you the best of luck in your endevours...
Essentials for Starting a New Business 20-11
Starting a new business demands much more than a good idea. A new business needs seed capital, which means that you must also convince a wide range of people that your idea is a good one and that you can successfully generate profits in the future.
•Some general rules of engagement before you start should include:
•Be as brief as possible, short, sweet and to the point.
•place financial data in an appendix at the end of the document
•Demonstrate respect for your competition
•Mix in a spell and grammar check before you send your plan
•Justify any projections you make for your business
•Focus on your profit potential
•Include a risk analysis for the business and a realistic diagnostic for its survival
•Go easy on industry and technical jargon
•Be honest about any major claim
•Talk about relevant experience of your executive team
Here are four key steps you need to take
1. Raise finance:
•There are a number of options if you need backing to start a new business:
•A bank loan
•Venture capital
•Investment from family and/or friends
•'Business angels' - independent, wealthy individuals looking for investment opportunities
•Each option has advantages and disadvantages - a bank loan can be expensive, for instance, but allows you to keep a greater control of the business.
•Before you go about raising capital, it is also worthwhile exploring whether your business may qualify for a grant from a local or national source. Businesses that are likely to employ workers from deprived areas could qualify, as could those that will have a beneficial effect on a deprived area or section of society.
•Similarly, grants and tax breaks are also available in specific locations, such as enterprise parks. section of society. Similarly, grants and tax breaks are also available in specific locations, such as enterprise parks.
2. Write a business plan:
The first and most important step in raising finance is a solid and convincing business plan. Competition for the attention of banks, venture capitalists and other investors is fierce and potential investors receive many hundreds of business plans every year.
If you are to win backing for your new company, your business plan must stand out from the pack. Make sure your business plan follows these guidelines:
•The front cover should be clearly dated and should identify ownership of the plan:
•A clear index:
•An executive summary, providing the reader with a brief (no more than a single page) but thorough idea of the proposal:
•Organisational information, which should include: contact numbers; the company's legal form, registration number and incorporation date; directors and shareholdings, if appropriate; employment numbers and the projected increase in staff over a specified time scale; the names and addresses of the company's advisers.
•The main section, which should provide a history of the organisation with a mission statement, clear details of the project being proposed for funding, a thorough analysis of the market, customers and competition, management details and finance details.
•Management details should include the CVs of main management and an analysis of the team's ability to manage marketing and sales, finance and administration and technical issues.
•The finance section should include projections for monthly cash flow, and profit and loss accounts and balance sheets covering a minimum of two years. An assessment of the project's long-term financial viability should also be included, along with a realistic statement of the total funding requirement (split between capital expenditure and working capital).
•A good source of information is ‘Business Panning Made Easy’ (bplans.com)
3. Find an office / detailing space:
Once your funding is in place, the next step is to find a base for your company. Again, there are a number of options:
•Be conservative. Take your time and set priorities.
•Choose a location with easy access: This can be a personal residence, mobile rig, commercial building, or rental space in an existing automotive-related business (car wash, lube shop, stereo shop, window tint, etc.)
•Shop-around for financing: Interest rates vary. You might also consider alternative financing.
•Leasing a property. Points to look out for include: break clauses, which give you the option of leaving the premises before the end of the lease; that the responsibility for maintenance and repair of the building is clearly defined; and that the terms for rent increases are laid out in the contract.
•Buying a property should be seen as an option for the future.
•Purchase adequate insurance: This includes full coverage on customer vehicles in the shop, and off the premises during pick-up and delivery.
•Invest in a good phone system: If you cannot be reached directly, you should be able to return a customer's call within 15 minutes.
•Set-up a credit card accounts for business purchases: Some suppliers do not offer credit terms or C.O.D.
•Set-up credit card accounts for retail sales: Electronic credit card machines offer financial safeguards and convenience for your customers.
•Investigate state and city tax laws: Some require sales tax on services.
4. Get equipped:
The final step is to find the right equipment and software for your needs and to stock up with stationery and other office goods. You'll also need to find yourself legal, tax and accounting advisers.
5. Cash Flow:
•Cash (Liquid Assets)- cash available or income from the business
•Credit- extended by supply vendors; to maintain a good trade credit ensures bills are met on time.
•Inventory- cash disbursements (supplies in stock) this will be your biggest monetary outlay
•Debt- bank overdraft or business loans must be repaid in a timely manner to ensure a good standing with your bank when it comes time to expand your business
•Expenses- business rent, utilities (telephone, electricity, water, and etc) Insurance, Taxes, salaries, monies must be available to meet these expenses, plus state and local taxes, accountant and attorney fees.
•Bookkeeping- always keep accurate records of all your business transactions, these are very necessary for the day-to-day running of the business, plus you’ll always be aware of you liabilities for sales tax and etc.
6. Six steps to a winning business plan-
Most small business owners dread the business planning process, but a good business plan can spell the difference between success and failure for your company. If possible, try to read a business plan written by a friend or colleague. You have a lot of hard work ahead of you, but it will be well worth the effort when your company takes off.
Here are six key items your business plan must include.
a. Executive summary:
A two-page overview of your business concept, who you are, and why you are the right person or team of people to launch this particular business. Most people will only have time to read the summary, so make it great.
b. A short description of the business opportunity:
What exactly do you plan to sell or offer and why? Why start this particular business right now? What is your motivation? Your Product or Service, a universal tenet for both a product and service oriented venture is to diversify.
Whether your product is in development or you plan to deliver one service to market, try to paint a broad picture in the future with an extension to your business. How can you build on it? How can it grow? If your potential is real investment backing will come.
c. The audience for your goods or services:
Explain exactly why you think people will buy what you want to sell. How many potential customers are there? Where do they live? What are they buying now?
d. Your competition:
Competition is fierce, especially with the low cost of doing business online. Very few companies will succeed and flourish. Tell folks why you think you can beat the competition and how you plan to do it.
e. Your management team:
Outline your credentials and describe the people you plan to hire to work with you. A strong management team is critical to business success.
f. Your marketing strategy:
How do you plan to promote your business? What is your promotional budget? If you plan to rely on word of mouth, be sure to arm yourself with a good basic tactic to justify your plan? Elaborate on your strategy in major detail. If you get this off the ground, how will you market the product or service? Be as specific as possible.
7. How to Succeed.
A detailing service will thrive in any area of the country if it is based on one, simple rule.
Give your customers more than they expect.
Repeat Customers are the Secret to Success! Give your customers more than just a clean car. Make a real impression.
Give them Quality, Value, and Piece of Mind.
Quality: there is simply no substitute. Insist on the highest-quality service, equipment, and products. Your competition doesn't.
Value: give your customers value for their dollar. Never cut corners to save cost.
Peace of Mind: instil confidence in your customers. Proudly advertise your commitment to excellence.
Promoting: "First Class, We Care" image, develops loyal and lasting customer relations.
Groundwork:
•Tailor your business to meet the needs of the local customer base, study your community, each hour spent on research, can equal a year of success.
•Determine if there is a demand for high-quality detailing in your area: Survey the entire area. Look for high concentrations of traffic. Locate retail businesses, auto dealerships, manufacturing plants, medical buildings, airports, transport companies, etc.
•Investigate local environmental laws with the EPA: State, county, and city laws vary greatly.
•Checkout the competition: Have your car detailed. Ask questions and observe.
•Educate yourself: The library is an excellent source for articles and books on detailing. If possible, work part-time in a shop. Practice your skills.
•Decide on the services you will offer: A well-rounded business should give the customer several detailing options, and offer specialized services.
•Decide on the types of vehicles you will detail: Fleet and emergency vehicles, boats, limousines and motorcycles can generate considerably higher detailing fees.
Summery:
Professional detailing can be a great business opportunity, but like any other business, it requires very careful planning and execution. Work smart, take the time to study and understand your market and build a business strategy around it. Once you’ve established your business plan, all it takes to execute it is hard work.
JonM
DaviB has an excellent article
DETAILING FOR PROFIT by DavidB
Linear Mode
