Where are you planning on opening up this business?Originally Posted by jsatekAll true. Yes, I decided to open a shop because they can charge $300+ per car. If the money is there I am taking it, I don’t care what the business is.
Do the math:
$300 per piece @ 25 = $7500week
$7500 * 50 weeks = $375,000 annual
Monthly shop expenses at $12,000 per month
That’s a $255,000 pre tax profit. Not bad for a $100k investment!
Obviously the trick is to get the 25 clients per week to keep the place rolling. Now you know what you what your target is, your job now becomes hitting it. How can I generate 25 new clients per week? Or can I? This required demographics and a marketing team to analyze.
If you have the funding and plan anything is possible. Hence my investigations into these detailing forums. I have the funding and was developing a business plan with my accountant and attorney. I have spent approximately $10k and 3 months time already investigating the probability of opening a detailing business. At this point in time I think there are other businesses I could invest in and get a better return as an owner, not an owner/operator. I also considered opening this garage just to have it when I needed it, as long at it could pay its own bills and not cause a loss. Face it $100k to open a business is peanuts. Try to open or buy an automatic car wash in New York, you’ll be in it for $1 million + and years of city and county court time before you can make dollar one.
Keep in mind this shop is in a wealthy area, recently rated by Money to have the most millionaires per capita excluding their personal real estate of any county in the country. I think the average home price in my neighborhood, is up to $900k with $15k per year in property taxes, and I don’t live in the "best" area of this county. I`d also go as far to say that it is way overpopulated, my property is only 80` wide x 100’ deep and the house is just 2400 sq./ ft.
If a boutique service like this is going to make it anywhere, given these demographics, I think it can make it here, just who is the right guy to do it?
Maybe you have mentioned it and I passed it by....Thanks
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