Do you want to start an auto body shop company from scratch? Or you need a sample auto body shop business plan template? If YES, then i advice you read on.
In the news, we hear of auto accidents every now and then. This is regardless of whether it was caused by a drunk driver, or not. Accidents always occur on a regular basis and people will always require auto body work. This is why all over the world we see that body shops have continued to spring up on a daily basis. This is because of the never ending need for it.
Body shop business is a money-spinning career opportunity. Operating a body shop can be hard work, but you can be rest assured to smile to the bank at the end of the day. When you run this type of business you assume the role of a problem solver because you help solve a rightful problem. However, it is imperative to note that starting this trade requires a whole lot of focus.
If you are decided and are really enthusiastic about knowing what the body shop business is all about and how to start yours, then it becomes important that you take these step below really seriously. The steps to be reeled out in this article are such that has helped those who have thriving body shop businesses. Now, let us see those steps that are indispensable when it comes to opening a body shop.
Starting a Body Shop Company – Sample Business Plan Template
1. Learn a Lot about Body Shops
The first rule of thumb is that you must learn everything you can about auto body works, as well as painting cars. This is because you would grasp a whole lot, when you research on a topic that isn’t too clear. You can consider reading books on auto body works; ask those who are already in the line of business how they have been able to cope in the past years, how much it took them to set up a body work business, amongst many other questions.
2. Learn the Skill
Even though this skill may be difficult to learn, but you have got to give it a shot if you want to delve into this business. It is imperative that as you start a business, you learn the skill involved in it. That said, and then you may consider attending a vocational or technical auto repair program. This singular can put you in a top position in the industry because you are able to put all you have learned into practice.
3. Work in an Auto Shop
If you aren’t satisfied at the level of knowledge that you have been able to garner, then you can look at finding a job and serving in an auto body shop for a certain period of time so that you can learn the basics. When you put yourself in this position, you may also learn the day to day running processes of a body shop company.
4. Register Your Business
This is not the type of business that you can possibly start at home. This is because of the noise that some of the machines used in this industry emits. Much more than that, operating a body shop from home may mean that you would be exposing yourself as well others to very harsh chemical odors that may be hazardous to the health. So, do ensure that you do all the paper work that registering a business entails.
There are very vital templates that must be included in your body shop business plan. They include; what services you offer and your eventual business intention. Also, you should have financial projections like; revenue and expected expenses, short term and long term business goals. It should also include a comprehensive analysis of your competition in the area you want to site your body shop.
This is one business that may gulp quite a lot of money. Therefore, you would need to secure funding for your body shop. You may consider angel investors who are all out scouting for businesses to promote. You can also seek a loan facility from a bank or a micro finance bank. If you are lucky and you find an angel investor, do ensure that you have a well packaged business plan to tender.
7. Discover a location for your auto body shop
You would need a space where a garage with several bays can be built. There should also be some office spaces attached. You may need to tell your realtor to find this space in a commercial area that can be visible to a lot of people who may need your services. This business must be located in the heart of town.
It is important that you purchase an insurance policy for your auto body shop. Do ensure that this includes a general liability protection, as well as property coverage. Also, it is important that you have workers’ compensation insurance for your employees.
9. Hire Workers
More often than not operating a body shop means that you will hire mechanics for your business. This means that you will need to take into service mechanics that are proficient and have been through a training program.
10. Procure Equipment
If you do not have a relationship with parts suppliers, then it is important that you do so. This is so that you can offer affordable services. Once you secure them, then you can purchase the equipment that you will need for your shop. This will comprise of lifts, tools and the initial parts inventory.
Having a solid advertising strategy is very vital. Here are some marketing steps that you may consider adopting; leveraging on the internet, advertising through the radio and on television, as well as the print media. You may also consider offering discounts to new customers so that they can stay attracted to your service.