Are you writing a paintless dent removal business plan? If YES, here is a sample paintless dent financial projection, profit & loss statement, sales cost. We have been able to pull cash that will be enough for us to successfully launch a standard paintless dent repair company in West Palm Beach – Florida US. These are the key areas where we will spend our startup capital on;
Startup Expenditure (Budget)
- The Total Fee for Registering the Business in West Palm Beach – 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- $80,000.
- 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 paintless dent repair and auto detailing equipment (Dent Repair tool, and Steam Cleaner) – $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
- Miscellaneous – $10,000
TOTAL EXPENSES: $234,480
Going by the report from the market research and feasibility studies conducted, we will need about two hundred and fifty thousand (250,000) U.S. dollars to successfully set up a medium scale but standard paintless dent repair company in the United States of America.
Table of Content
Generating Startup For Ruston Wrights® Paintless Dent Repair Services Ltd
Ruston Wrights® Paintless Dent Repair Services Ltd is a business that will be owned and managed by Ruston Wrights and his immediate family members. They are the sole financiers of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.
These are the areas we intend generating our startup capital;
- Generate part of the startup capital from personal savings and sale of his stocks
- Generate part of the startup capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank
N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
Sources of Income
Ruston Wrights® Paintless Dent Repair Services Ltd is established with the aim of maximizing profits in the paintless dent repair industry and we are going to go all the way out to ensure that we do all it takes to attract clients on a regular basis.
Ruston Wrights® Paintless Dent Repair Services Ltd will generate income by offering the following services: paintless dent removal, and automobile detailing services that involves thorough cleaning, restoration, and finishing of an automobile to produce a pristine level of detail. 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.
One thing is certain, there would always be clients who own cars who would need the services of a paintless dent repair service. We are well positioned to take on the available market in West Palm Beach – Florida and we are quite optimistic that we will meet our set target of generating enough profits from our first six months of operation and grow our business and our clientele base.
We have been able to critically examine the market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.
The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in West Palm Beach – Florida. Below is the sales projection for Ruston Wrights® Paintless Dent Repair 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: $700,000
INCOME FOR YEAR ONE
Paintless dent removal will cost $200
- Having 700 client, it will cost $140,000
Automobile detailing services will cost $150
- Having 400 client, it will cost $60,000
TOTAL INCOME : $200,000
ON-GOING OPERATIONAL EXPENSES:
- Operational cost for the second quarter of the year (salaries of employees, payments of bills et al) – $40,000
- Operational cost for the third quarter of the year (salaries of employees, payments of bills et al) – $40,000
- Operational cost for the last quarter of the year (salaries of employees, payments of bills et al) – $40,000
- Equipment rental, repairs and maintenance – $10,000
- Supplies (detailing equipment, stationaries et al) – 10,000
- Credit card processing fees – $1,000
- Other miscellaneous expenses – $9,000
N.B: This projection was done based on what is obtainable in the paintless dent repair 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 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.