Are you about starting a paintless dent repair business? If YES, here is a complete sample paintless dent repair business plan template & feasibility report you can use for FREE. Starting a paintless dent repair business could be a fun, profitable and interesting business for someone with the technical skills to carry out the job.
With the right location, top-notch service and good marketing, you can serve large customers who need to fix dents in their cars, and you can as well offer general body work or painting, at an affordable price.
A Sample Paintless Dent Repair Business Plan Template
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
1. Industry Overview
Paintless dent repair (PDR), which popularly called paintless dent removal, it is a method of removing minor dents from the body of automobiles. A host of body damage in automobiles can be repaired using Paintless dent repair (PDR) techniques as long as the paint surface is intact. PDR may be used on both aluminum and steel panels.
The most common practical use for Paintless Dent Repair is the repair of hail damage, door dings, minor creases, large dents and bodylines damage. Paintless dent removal was invented by Oskar Flaig in February of 1960 during the “International Motor Sports Show” in New York City, USA.
Paintless dent repair business falls under the car body shops industry and players in this industry provide repair and customization work for the interior and body of passenger cars, trucks, vans and trailers. Some industry operators specialize in specific auto repairs; for example, paint shops specialize in post-collision paint jobs, while automotive glass shops replace, repair and tint windows. Restoration shops, which typically represent a niche market, restore classic and antique cars.
If you are a close watcher of the Car Body Shops industry, you will agree that the industry has improved steadily over the past five years. Industry revenue has experienced steady growth since 2012, reflecting steady increase in per capita disposable income and motor vehicle registration, alongside aging vehicle fleets.
Stricter regulations have pushed car manufacturers to include heavy safety provisions for the driver, and these advanced technologies in new vehicles have led to fewer collisions over the past five years, resulting in a smaller client base for industry operators. This smaller client base has also led to overcapacity among industry operators; consequently, operators have either consolidated operations or exited the industry entirely.
The Car Body Shop 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 120,780 licensed and registered car body shops and auto detailing businesses responsible for employing about 330,732 employees and the industry rakes in a whooping sum of $42bn annually with an annual growth rate projected at 1.9 percent.
A recent report published by IBISWorld estimates that the car body shop industry is in the mature stage of its life cycle. Industry value added will grow at a lower rate than US GDP over the 10 years to 2022. Industry value added is expected to grow at an annualized rate of 1.6 percent during the period.
GDP is expected to increase at an annualized rate of 2.0 percent during the same period, indicating that the industry is growing slower than the economy as a whole. The marketplace for automotive bodywork, paintwork and glass repair is highly saturated.
Paintless dent repair 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.
2. Executive Summary
Ruston Wrights® Paintless Dent Repair Services Ltd is a registered car body works cum automobile detailing company that will be located in West Palm Beach – Florida and we have been able to secure a standard facility. We chose to launch our business in West Palm Beach because we know that our paintless dent repair services will be in high demand due to the growing number of automobile owners in the city.
We are well equipped to service the market segment that requires paintless dent services and of course auto detailing services for their automobiles. Although our intention of starting this business 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 in-station and out-station services. Our customers will have the option of choosing from our different packages, and we have plans to serve both individual and corporate clients, which is why we designed various packages.
At Ruston Wrights® Paintless Dent Repair Services Ltd we are passionate in the pursuit of financial success with uncompromising services. We are quite optimistic that our values and quality of service offering will help us drive our business to enviable heights and also help us attract the number of clients that will make the business highly profitable.
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 paintless dent repair and auto detailing industry.
No doubt our excellent customer service and the quality of services we offer will position us to always welcome 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.
Ruston Wrights® Paintless Dent Repair Services Ltd is owned and managed by Ruston Wrights and his immediate family members. He has the required expertise and experience to build a company that will grow to become one of the leaders in the industry.
3. Our Products and Services
Ruston Wrights® Paintless Dent Repair Services Ltd is a standard paintless dent repair company that offers a wide range of services that revolve around the paintless dent removal and auto detailing industry. We intend giving our customers every reason to always hire our services which is why we have customized our services.
Ruston Wrights® Paintless Dent Repair Services Ltd will offer services that include thorough cleaning, restoration, and finishing of an automobile, both inside and out, to produce a pristine level of detail.
4. Our Mission and Vision Statement
- Our Vision is to become the number one paintless dent repair company in the whole of West Palm Beach – Florida with active presence in major cities in the United States of America and Canada.
- Our mission as a paintless dent removal company is to develop a highly successful, paintless dent repair business which provides quality services in our community and to become a standard for an ideal paintless dent removal business not only in the State of Florida but also throughout the United States of America.
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 paintless dent repair company on the right business foundation.
As a matter of fact, we are set out to build a paintless dent repair business that will be a standard for the paintless dent repair and auto detailing line of business in the United States of America. 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.
We aware that it takes a business with the right employees and structure to achieve all what we have set out to achieve, which is why we 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 paintless dent repair and auto detailing business will be anchored on the team not on any individual. With the wide range of our service offerings, we are expected to employ more than is required to run a conventional paintless dent repair business.
Definitely, we will have various employees to man the various services of Ruston Wrights® Paintless Dent Repair Services Ltd. Ruston Wrights® Paintless Dent Repair Services Ltd will employ professionals to occupy the following positions;
- Manager (Owner)
- Marketing and Sales Executive
- Client Service Executive
- Paintless Dent Removals and Auto Detailers (6)
5. Job Roles and Responsibilities
- Responsible for providing direction for the business
- Creates, communicates, and implements 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
- Ensures 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 manages interviewing process
- Carries out induction for new team members
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
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
- 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 evaluate new plans for expanding sales
- Documents all customer contact and information
- Represents Ruston Wrights® Paintless Dent Repair Services Ltd in strategic meetings
- Helps increase sales and growth for Ruston Wrights® Paintless Dent Repair Services Ltd.
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- 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
- Ensuring compliance with taxation legislation
- Handles all financial transactions for Ruston Wrights® Paintless Dent Repair Services Ltd
- Serve as internal auditor for Ruston Wrights® Paintless Dent Repair 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
Paintless Dent Removal and Automobile Detailers (6):
- Responsible for handling paintless dent removal services that revolves around the repair of hail damage, door dings, minor creases, large dents and bodylines damage.
- Responsible for handling automobile detailing services such as cleaning, restoration, and finishing of an automobile, both inside and out, to produce a pristine level of detail
- Maintains a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and windows, etc. if required.
- Handle any other duty as assigned by the manager
6. SWOT Analysis
Paintless dent repair 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 paintless dent repair business with variety of services which is why we have decided to subject our business idea to SWOT Analysis.
Ordinarily we can successfully run a normal paintless dent repair business without 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 paintless dent repair business we want to establish, we don’t have any option other than to follow due process.
We hired the services of Mr. Joel Stevenson, a 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 Ruston Wrights® Paintless Dent Repair Services Ltd.
Ruston Wrights® Paintless Dent Repair Services Ltd is centrally located in a densely populated industrial and residential estate in West Palm Beach – Florida; our location is in fact one of our major strength. We have a well – equipped state of the art paintless dent repair equipment and tools and we are also one of the very few paintless dent repair companies in the whole of West Palm Beach – Florida that offers a wide range of services.
Another strength that counts for us is the power of our workforce and management. We have a team of experts in the car body works and auto detailing industry, a team of hardworking and dedicated individuals.
Ruston Wrights® Paintless Dent Repair 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 areas in West Palm Beach – 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 paintless dent repair and auto detailing line of business.
The truth is that there are no standard paintless dent repair business within the area where ours is going to be located; the closest paintless dent repair 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.
The number of new cars purchased may limit growth among industry body shops, and as the economy continues improving, consumers will be more likely to spend money on major repairs.
So also, some other threats that are likely going to confront Ruston Wrights® Paintless Dent Repair Services Ltd is unfavorable government policies, seasonal fluctuations, demographic/social factors, downturn in the economy which is likely going to affect consumer spending and of course emergence of new competitors within the same location where ours is located.
7. MARKET ANALYSIS
- Market Trends
The market for paintless dent repair services is driven by the purchase of cars and the increase in consumer spending – in essence, as the general economy of a country grows, more people will buy cars and more people will patronize the services of paintless dent repair businesses especially if their driving habits encourages them to do so.
Paintless dent repair businesses respond to the increase in household spending and also increase in the volume of cars in a particular area or city.
The trend in the paintless dent repair industry is that most paintless dent repair companies in the bid to survive the recent global economic meltdown included additional services to their core service offerings. Some companies include body repair services, painting services, glass replacement and repair, upholstery and interior repair, merchandise sales, detailing services and body conversions. It is much easier for paintless dent repair companies to increase their revenues by diversifying as against increasing the scope of their market.
8. Our Target Market
Prior to choosing a location for our paintless dent repair business, we conducted our feasibility studies and market survey and we were able to identify those who will benefit greatly from our service. Those who will benefit from our service offering are households, transport companies, haulage companies and government agencies with fleet of cars.
The demographic composition of those who need our services spread 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 paintless dent repair service is designed for;
- The public sector; government ministries, agencies and parastatals.
- Organized private sector
- Corporate Executives
- Business People
- Car Dealerships
- Taxi and car rental companies
- Transport Companies
- Haulage Companies
Paintless dent repair business is an easy to set up business that does not require formal training to achieve; anybody can set up this business if they have the required startup capital. It means that the possibility of this business springing up in the location where our paintless dent repair company is located is high.
We aware of this which is why we decided to come up with a business concept that will position us to become the leader in West Palm Beach – Florida. Our competitive edge is that we are well equipped paintless dent repair business that has loads of complimentary business offerings that can easily assist us in attracting car owners within the radius of our business operation.
We can confidently say that our location will count as a positive for us amongst any competitor that might start same business in the same location where ours is located. For the time being, Ruston Wrights® Paintless Dent Repair Services Ltd has no real competitors that can match compete with the quality of services we offer.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category 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
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.
10. Sales Forecast
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
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.
- Marketing Strategy and Sales Strategy
The marketing strategy for Ruston Wrights® Paintless Dent Repair Services Ltd is going to be driven 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 for businesses like paintless dent repair and auto detailing services. 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 equipped to meet their targets.
Our goal is to grow Ruston Wrights® Paintless Dent Repair Services Ltd to become the leading paintless dent repair company in West Palm Beach – Florida which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with in the industry.
Ruston Wrights® Paintless Dent Repair Services Ltd is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our paintless dent repair and auto detailing business by sending introductory letters alongside our brochure to corporate organizations, transport and logistics companies, households and key stake holders in West Palm Beach – 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
- Place 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 paintless dent repair and auto detailing company in relevant magazines, newspapers, TV and radio stations
- 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
Ruston Wrights® Paintless Dent Repair Services Ltd is set to create a standard for paintless dent repair businesses in West Palm Beach – Florida and throughout the United States which is why we will go all the way to adopt best practices to promote our business.
Good enough, there are no hard and fast rules on how to advertise or promote a paintless dent repair business. The challenge is that most paintless dent repair companies do not have the required money to pump into publicity and advertising.
Here are the platforms we intend leveraging on to promote and advertise Ruston Wrights® Paintless Dent Repair Services Ltd;
- Encourage our loyal customers to help us use word of mouth mode of advertisement (referrals)
- Advertise our paintless dent repair business in relevant magazines, local newspaper, local TV and radio stations
- 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 billboards in strategic locations in and around West Palm Beach – Florida
- Direct coupon mailing approach
- 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 industry, we don’t intend to charge more and we don’t intend to charge less than our competitors are offering in West Palm Beach – 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 the same as what is obtainable in the open market throughout the United States’ market.
- Payment Options
The payment policy adopted by Ruston Wrights® Paintless Dent Repair Services Ltd is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Ruston Wrights® Paintless Dent Repair Services Ltd will make available to her clients;
- Payment with cash
- Payment via Point of Sale Machine (POS)
- Payment via online bank transfer
- Payment via check
In view of the above, we have chosen banking platforms that will enable our client make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
13. Startup Expenditure (Budget)
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;
- 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
Going by the report from the market research and feasibility studies conducted, we will need about one hundred and fifty thousand (150,000) U.S. dollars to successfully set up a medium scale but standard paintless dent repair company in the United States of America.
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 $100,000 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.
14. Sustainability and Expansion Strategy
Part of the plans we have in place to sustain Ruston Wrights® Paintless Dent Repair Services Ltd is to ensure that we continue to deliver quality services and improvise on how to do things faster and cheaper. We are also not going to relent in providing a conducive environment for our workers.
From our findings, another factor that kills a new business is financial leakages. In order to plug financial leakages, the management of Ruston Wrights® Paintless Dent Repair Services Ltd will use payment machines and accounting software to run the business.
We are quite aware that our customers are key components in 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, international best practices and diversifying our services 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
- Printing of Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the needed paintless dent removal machine, pressure washing machines, electronic and office appliances: 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
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