Are you about starting an automobile detailing business? If YES, here is a complete sample auto detailing business plan template & feasibility study you can use for FREE.
Starting up an auto mobile detailing business also needs a significant investment capital, solid planning, and concentration to detail in order to keep your business profitable. A mobile car wash is where the business owner travels in a specially equipped vehicle to the auto’s location.
Just like any other business, the demand for auto mobile detailing services usually declined during recession period / economic downturn and this is due to the declining household spending on cleaning services and reduced demand from business clients.
As the economy grows, and income increases, there will be corresponding increase in the demand for cleaning related services such as mobile car wash services. One important hurdle that you need to scale when looking to start this type of business is writing a business plan. Here below is a sample Automobile Detailing business plan;
A Sample Automobile Detailing Business Plan Template
Table of Content
- 1. Industry Overview
- 2. Executive Summary
- 3. Our Products and Services
- 4. Our Mission and Vision Statement
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 8. Our Target Market
- 9. SALES AND MARKETING STRATEGY
- 10. Sales Forecast
- 11. Publicity and Advertising Strategy
- 12. Our Pricing Strategy
- 13. Startup Expenditure (Budget)
- 14. Sustainability and Expansion Strategy
1. Industry Overview
In the united states of America and even all over the world, the car wash and auto detailing industry of which auto mobile detailing business is a subset of is regarded as one of the industries that accommodates more of unskilled workers than skilled worker. Simply because some of the basic services offered by auto mobile detailing companies revolves around cleaning, washing, and waxing services for automobiles (cars, trucks, vans, and trailers et al).
Basically, automobile detailing services involves the thorough cleaning, restoration, and finishing of an automobile, both inside and out, to produce a pristine level of detail. It involves cleaning and restoring or exceeding the original condition of the surface of the car’s finish (usually a paint with a glossy finish), chrome trim, windows, wheels, and tires, as well as other visible components on the exterior and of course interior of a vehicle.
The automobile detailing business is indeed a growing and profitable business. Statistics has it that household customer account for the largest share of car wash & detailing industry revenue at approximately 76%. Car Wash &
Detailing household customers are broadly defined as consumers that have a driver’s license, own a car, and are older than 16 years of age. This demographic is further segmented by income brackets, with households in the highest division representing the greatest demand for car wash & detailing services.
Business customers contribute 22% of industry revenue. Revenue from this segment is largely derived from servicing delivery vans and taxi cabs. This segment includes businesses that depend on motor vehicles for the daily running of the company, as well as taxi and rental car companies, and truck businesses — many of whom cannot afford in-house repair and maintenance shops, “Particularly independent companies that do not have the option of in-house repairs,
Slower economic activity during the recession led to fewer businesses using vehicles to conduct trade; however, a resumption of economic growth since 2010, has seen this segment strengthen. Government customers comprise approximately 2% of the car wash & detailing industry revenue. This segment includes federal, state, and local government organizations.
The Car Wash and Auto Detailing industry will continue to experience growth in all parts of the world especially in developed countries such as United States of America, Canada, United Kingdom, Germany, Australia and Italy et al.
As a matter of fact, there are no companies with a leading market share in the industry. Statistics has it that in the United States of America alone, there are about 61,332 licensed and registered car wash and auto detailing businesses responsible for employing about 194,594 employees and the industry rakes in a whooping sum of $9bn annually with an annual growth rate projected at 2.7 percent.
Over and above, car wash and auto detailing businesses all over the world are still enjoying good patronage particularly if they are well positioned and if they know how to reach out to their target market (corporate organizations with fleet of cars, transport companies and haulage companies et al), government and household et al).
2. Executive Summary
Pristine® Automobile Detailing Services Ltd. is a standard and registered automobile detailing company which will be located in Fort Lauderdale, Florida – United States of America and we plans to also cover other cities such as Green – acres City, Miami, Jacksonville, Clearwater, Tampa, Miami Beach, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al.
We chose to operate in these cities because we know that our auto detailing services will be in high demand due to the growing numbers of automobile owners in these cities.
Pristine® Automobile Detailing Services Ltd is located in a full-service car wash facility which has the following features: a seventy foot fully automatic tunnel; 3 high pressure wand self-service bays; and 5 vacuum stations complete with fragrance and carpet shampoo dispensing machines.
We are well trained and equipped to service the market segments that require auto detailing services for their automobiles. Although our intention of starting a Pristine® Automobile Detailing Services Ltd is to offer only the above stated services, but we will not close our doors to diversification (additional services) as long as it does not affect our core services.
We will offer both in – station and out – off station services. Our customers will have the options of choosing from our different packages – we have the plans to serve both individual clients (households) and corporate clients (transport companies, haulage companies and the government) as well which is why we designed various packages.
At Pristine® Automobile Detailing Services Ltd we are passionate in the pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to start our own auto detailing business; we are in the industry to make a positive mark.
We are quite optimistic that our values and quality of service offering will help us drive our automobile detailing business to enviable heights and also help us attract the numbers of clients that will make the business highly profitable. We are a company that will be dedicated to establishing good business relationship with our clients giving them value for their money and reasons for them to hire our services over and over again.
We are quite aware that in order to become the number one choice in our city, we must continue to deliver quality services and that is exactly what we will do. We are open to the use of latest technology in the car was and auto detailing industry.
No doubt our excellent customer service and the quality of services we offer will position us to always welcome repeated customers and handle massive deals from both government agencies and transport and haulage giants.
Our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Pristine® Automobile Detailing Services Ltd is owned and managed by Richard McMillan and Family. He is a notable figure in the automobile industry in Florida. Aside from this new auto detailing business, the family owns an automobile dealership business and also auto repair workshop all in Florida.
3. Our Products and Services
Pristine® Automobile Detailing Services Limited is a standard and well – equipped car wash and auto detailing company that offers a wide range of services that revolves around the car wash and auto detailing industry and other complementary services.
We intend giving our customers every reason to always hire our services which is why we have customized our services.
Pristine® Automobile Detailing Services Ltd. Will offer automobile detailing services that involves thorough cleaning, restoration, and finishing of an automobile, both inside and out, to produce a pristine level of detail; it involves cleaning and restoring or exceeding the original condition of the surface of the car’s finish (usually a paint with a glossy finish), chrome trim, windows, wheels, and tires, as well as other visible components on the exterior and of course interior of a vehicle.
4. Our Mission and Vision Statement
- Our Vision is to become the number one car wash and auto detailing company in the whole of Florida with active presence in major cities in the United States of America and Canada.
- Our mission as a car wash and auto detailing company is to develop a highly successful, profitable all round car wash and auto detailing business which provides quality services in our community and to become a standard for an ideal car wash and auto detailing business not only in the State of Florida but also throughout the United States of America and Canada where we intend selling our franchise.
Our Business Structure
We are quite aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our car wash and auto detailing company on the right business foundation.
As a matter of fact, we are set out to build a car wash and auto detailing business and it will be a standard for the car wash and auto detailing line of business in the United States of America and Canada. We want to build a business of dedicated workforce who will go all the way to ensure that our customers are satisfied and they get value for their money.
In other to achieve this, we aware that it takes a business with the right employees and structure to achieve all what we have set to achieve, which is why will be putting structures and processes in place that will help us deliver excellent services and run the business on auto pilot.
The success of our car wash and auto detailing business will be anchored on the team not on any individual. With the wide range of our service offerings, we are only expected to employ more than it is required to run a conventional car wash and auto detailing business.
Definitely, we will have various employees to man the various services offering of Pristine® Automobile Detailing Services Ltd. Pristine® Automobile Detailing Services Ltd. Company will employ professionals and skilled people to occupy the following position;
- Manager (Owner)
- Marketing and Sales Executive
- Client Service Executive
- Car Washer and Auto Detailers (6)
- Truck/Van` Driver
5. Job Roles and Responsibilities
- Responsible for providing direction for the business
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals and payment of salaries
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Responsible for managing the daily activities in the organization
- Ensure that the facility is in tip top shape and conducive enough to welcome customers
- Prepares budget and reports for the organization
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Designs job descriptions with KPI to drive performance management for all employees
- Regularly hold meetings with key stakeholders (clients and member of the board) to review the effectiveness of the business Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defining job positions for recruitment and managing interviewing process
- Carrying out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Oversees the smooth running of the daily activities of organization.
Marketing and Sales Executive
- Identifies, prioritizes, and reaches out to new clients, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects.
- Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents Pristine® Automobile Detailing Services Ltd. in strategic meetings
- Helps to increase sales and growth for Pristine® Automobile Detailing Services Ltd.
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for the organization
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for Pristine® Automobile Detailing Services Ltd. Company
- Serves as internal auditor for Pristine® Automobile Detailing Services Ltd.
Client Service Executive
- Welcomes clients and visitors by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products and, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
Car washers and Automobile Detailers (6):
- Responsible for handling core services automobile detailing services such as thorough cleaning, restoration, and finishing of an automobile, both inside and out, to produce a pristine level of detail
- Handles services that involves cleaning and restoring or exceeding the original condition of the surface of the car’s finish (usually a paint with a glossy finish), chrome trim, windows, wheels, and tires, as well as other visible components on the exterior and of course interior of a vehicle.
- Cleans up after customers and clean work area.
- Maintains a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and windows, etc. if required.
- Ensures that toiletries and supplies don’t run out of stock
- Handles any other duty as assigned by the manager,
- Responsible for transporting equipment, supplies and workers to project site
- Runs errand for the organization
- Handles any other duty as assigned by the manager.
6. SWOT Analysis
Car wash and auto detailing business is one of the many businesses that can easily generate sales with little stress as long as they are well positioned and equipped to carry out their services. We are building a standard car wash and auto detailing business with variety of services which is why we have decided to subject our business idea (company) to SWOT Analysis.
Ordinarily we can successfully run a normal car wash and auto detailing business without the stress of going through the required protocol of setting up a new business including writing a detailed business plan, but because of the nature of the kind of car wash and auto detailing business we want to establish, we don’t have any option other than to follow due process.
We hired the services of Mr. Dennis Long – John, an HR and Business consultant with bias in startups to help us conduct SWOT analysis for our company and he did a pretty job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Pristine® Automobile Detailing Services Ltd;
Pristine® Automobile Detailing Services Ltd is centrally located in a densely populated industrial and residential estate in Fort Lauderdale, Florida; our location is in fact one of our major strength. We have a well – equipped state of the art car wash and auto detailing equipment and tools.
We are also one of the very few car wash and auto detailing companies in the whole of Fort Lauderdale, Florida that offers a wide range of services for both households and corporate clients. Another strength that counts for us is the power of our team; our workforce and management. We have a team that is considered experts in the car wash and auto detailing industry, a team of hardworking and dedicated individuals.
Pristine® Automobile Detailing Services Ltd is a new business which is owned by an individual (family), and we may not have the financial muscle to sustain the kind of publicity we want to give our business. As a new business, we are also quite aware that it will take time for us to build trust with our clients.
We are centrally located in one of the busiest parts of Fort Lauderdale, Florida and we are open to all the available opportunities that the city has to offer. Our business concept also positioned us to be a one stop shop in the car wash and auto detailing line of business.
The truth is that there are no standard and well – equipped car wash and auto detailing business within the area where ours is going to be located; the closest car wash and auto detailing company to our proposed location is about 6 miles away. In a nutshell, we do not have any direct competition within our target market area.
Some of the threats that we are likely going to be confronted with at Pristine® Automobile Detailing Services Ltd, is unfavorable government policies, seasonal fluctuations, demographic / social factors, downturn in the economy which is likely going to affect consumers spending and of course emergence of new competitors within the same location where ours is located.
7. MARKET ANALYSIS
- Market Trends
The market for car wash and auto detailing services is driven by the purchase of cars and the increase in consumers’ spending – in essence, as the general economy of a country grows, more people will buy cars and more people will patronize the services of car wash and auto detailing businesses on a regular basis especially if their driving habits encourages them to do so.
Car wash and auto detailing business responds to the increase in household spending and also increase in the volume of cars in a particular area or city. The trend of the market can be predicted without stress. The trend in the car wash and auto detailing industry is that most car wash companies in the bid to survive the recent global economic meltdown included additional services to their core service offerings.
Some car wash and automobile detailing companies includes washing of rugs, selling of car accessories, running a bar, barbing saloon and even restaurant within the same premises if they have enough space. It is much easier for car wash companies to increase their revenues by diversifying as against increasing the scope of their market.
8. Our Target Market
Before choosing a location for our car wash and auto detailing business, we undertook our feasibility studies and market survey and we were able to identify those who will benefit greatly from our service offerings. Basically those who will benefit from our service offering are households, transport companies, haulage companies and government agencies with fleet of cars / trucks et al. They cut across different sectors of the economy.
The demographic component of those who need the services of car wash and auto detailing services spreads across the public sector, the organized private sector, and individuals from different strata of the society and from all walks of life.
Below is a list of the people and organizations that our car wash and auto detailing services is designed for;
- The public sector; government ministries, agencies and parastatals.
- Organized private sector
- Corporate Executives
- Business People
- Car Dealership Shops
- Taxi and car rental company
- Transport Companies
- Haulage Companies
Car wash and auto detailing business is an easy to set up business that does not require formal training to achieve; anybody can set a car wash and auto detailing business if they have the required startup capital. It means that the possibility of car wash and auto detailing business springing up in the location where our car wash and auto detailing company is located is high.
We are aware of this, which is why we decided to come up with a business concept that will position us to become the leader in Fort Lauderdale – Florida.
Our competitive edge is that we are standard and well equipped car wash and auto detailing business that has loads of complimentary business offerings that can easily assist us in attracting car owners (customers) within the radius of our car wash and auto detailing business operations.
We can confidently say that the location of our car wash and auto detailing business will definitely count as a positive for us amongst any competitor that might start a car wash and auto detailing business in same location where ours is located.
For the time being, Pristine® Automobile Detailing Services Ltd has no real competitors that can match compete with the quality of services we offer and our business offerings et al. Our customer service will be customized to meet the needs of all our customers.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups car wash and auto detailing business and other related industrial cleaning businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Pristine® Automobile Detailing Services Ltd is established with the aim of maximizing profits in the car wash and auto detailing industry and we are going to go all the way out to ensure that we do all it takes to attract both individual clients and corporate clients on a regular basis.
Pristine® Automobile Detailing Services Ltd will generate income by offering the following services: thorough cleaning, restoration, and finishing of an automobile, both inside and out, to produce a pristine level of detail, cleaning and restoring or exceeding the original condition of the surface of the car’s finish (usually a paint with a glossy finish), chrome trim, windows, wheels, and tires, as well as other visible components on the exterior and of course interior of a vehicle.
We are also open to generate income from other related services as long as it falls within the scope of the industry we are operating in.
10. Sales Forecast
One thing is certain, there would always be corporate organization and individual clients who would need the services of car wash and auto detailing services.
We are well positioned to take on the available market in Fort Lauderdale – Florida and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our car wash and auto detailing business and our clientele base.
We have been able to critically examine the car wash and auto detailing market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection are based on information gathered on the field and some assumptions that are peculiar to similar startups in Fort Lauderdale – Florida.
Below is the sales projection for Pristine® Automobile Detailing Services Ltd, it is based on the location of our business and of course the wide range of related services that we will be offering;
- First Year-: $200,000
- Second Year-: $450,000
- Third Year-: $750,000
N.B: This projection is done based on what is obtainable in the car wash and auto detailing industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same additional dance related services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
The marketing strategy for Pristine® Automobile Detailing Services Ltd is going to be driven basically by excellent customer service, honesty and quality service delivery. We will ensure that we build a loyal customer base. We want to drive sales via the output of our jobs and via referral from our satisfied customers. We are quite aware of how satisfied customers drive business growth especially businesses like car wash and auto detailing services.
Pristine® Automobile Detailing Services Ltd is a car wash and auto detailing business that is strategically located and we are going to maximize the opportunities that is available which is why we spend more to locate the business in a location that will be visible and enable us to access our target market.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Pristine® Automobile Detailing Services Ltd
Our goal is to grow Pristine® Automobile Detailing Services Ltd to become the leading car wash and auto detailing company in Fort Lauderdale – Florida which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with in the car wash and auto detailing industry.
Pristine® Automobile Detailing Services Ltd is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our car wash and auto detailing business by sending introductory letters alongside our brochure to corporate organizations, transport and logistics companies, households and key stake holders in Fort Lauderdale – Florida
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
- Use friends and family to spread word about our business
- Post information about our company and the services we offer on bulletin boards in places like schools, libraries, and local coffee shops et al
- Placing a small or classified advertisement in the newspaper, or local publication about our company and the services we offer
- Leverage on referral networks such as agencies that will attract clients who would need our customized services
- Advertise our car wash and auto detailing company in relevant magazines, newspapers, TV stations, and radio station.
- Attend relevant expos, seminars, and business fairs et al to market our services
- Engage in direct marketing approach
- Encourage the use of Word of mouth marketing from loyal and satisfied students
- Join local chambers of commerce and industry to market our services.
11. Publicity and Advertising Strategy
Pristine® Automobile Detailing Services Ltd is set to create a standard for mobile car wash and auto detailing business in Fort Lauderdale – Florida and throughout the United States which is why we will go all the way to adopt and apply best practices to promote our business.
Good enough there is no hard and fast rule on how to advertise or promote a car wash and auto detailing business. The challenge is that most car wash and auto detailing companies do not have the required money to pump into publicity and advertising. The cash they have will be reserved to take care of overhead and operational cost.
We will ensure that we leverage on all conventional and non – conventional publicity and advertising technique to promote our car wash and auto detailing business. Here are the platforms we intend leveraging on to promote and advertise Pristine® Automobile Detailing Services Ltd;
- Encourage our loyal customers to help us use Word of Mouth mode of advertisement (referrals)
- Advertise our car wash and auto detailing business in relevant magazines, local newspaper, local TV stations and local radio station
- Promote our business online via our official website
- List our business on local directories (yellow pages)
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand
- Install our Bill Boards on strategic locations in and around Fort Lauderdale – Florida
- Direct coupon mailing approach
- Engage in road show from time to time in target communities
- Distribute our fliers and handbills in target areas
12. Our Pricing Strategy
Our pricing system is going to be based on what is obtainable in the car wash and auto detailing industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than our competitors are offering in Fort Lauderdale – Florida.
Be that as it may, we have put plans in place to offer discount services once in a while and also to reward our loyal customers especially when they refer clients to us. The prices of our services will be same as what is obtainable in the open market.
- Payment Options
At Pristine® Automobile Detailing Services Ltd, our payment policy will be all inclusive because we are quite aware that different clients would prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;
- Payment by via bank transfer
- Payment via POS machine
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
- Payment via mobile money
- Payment with cash
In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.
13. Startup Expenditure (Budget)
We have been able to pull cash that will be enough for us to successfully launch a standard and well – equipped car wash and auto detailing cleaning company in Fort Lauderdale – Florida US. These are the key areas where we will spend our start – up capital on;
- The Total Fee for Registering the Business in Fort Lauderdale – Florida – $750.
- Legal expenses for obtaining licenses and permits – $1,500.
- Marketing promotion expenses (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- Cost for hiring Business Consultant – $2,000.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
- Cost of accounting software, CRM software and Payroll Software – $3,000
- Cost for leasing standard warehouse facility- $100,000.
- Cost for facility remodeling – $10,000.
- Other start-up expenses including stationery – $1000
- Phone and utility deposits – $3,500
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
- The cost for Start-up inventory – $15,000
- Cost for store equipment (cash register, security, ventilation, signage) – $13,750
- Cost for mobile car wash and auto detailing equipment (Carpet Extractor $350.00, Vacuum/Air Freshener $1,000.00, Steam Cleaner $6,000.00, Lights, Tank $400.00, Truck Bed $6,895.00 and Truck $18,455.00) – $15,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Credit card machine, POS, tables and chairs et al): $4,000.
- The cost of Launching a Website: $600
- Cost for the purchase of utility truck – $15,000
- The cost for our grand opening party: $1,500
- Miscellaneous: $10,000
We would need an estimate of $350,000 to successfully launch our mobile car wash and auto detailing business in Fort Lauderdale – Florida US.
Generating Funding/Startup Pristine® Automobile Detailing Services Ltd
Pristine® Automobile Detailing Services Ltd is a business that will be owned and managed by Richard Long – John and Family. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings and sale of his stocks
- Generate part of the start – up capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $100,000 (Personal savings $80,000 and soft loan from family members $20,000) and we are at the final stages of obtaining a loan facility of $250,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
Part of the plans we have in place to sustain Pristine® Automobile Detailing Services Ltd is to ensure that we continue to deliver quality services, improvise on how to do things faster and cheaper. We are not going to relent in providing conducive environment for our workers and also the required trainings that will help them deliver excellent services at all times.
From our findings, another factor that kills new business is financial leakages. In order to plug financial leakages, the management of Pristine® Automobile Detailing Services Ltd adopts the use of payment machine and accounting software to run the business.
We are quite aware that our customers are key component to the growth and survival of our business hence we are going to continuously engage them to give us ideas on how to serve them better. We will not waste time in adopting new technology, best practices and diversifying our services; expand our product and service offerings once the need arises.
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Acquiring facility and remodeling the facility: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the Needed pressure washing machines and industrial cleaning equipment, electronic appliances, office appliances and bar accessories: In Progress
- Creating Official Website for the Company: Completed
- Creating Awareness for the business both online and in the neighborhood: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Establishing business relationship with vendors – suppliers of all our needed cleaning accessories and supplies et al: In Progress