Business Plan: The Garage Auto Repair Business
Executive Summary
People are presently embracing machines in most their activities and these people ought to search for repair services since machines are subject to wear. This means that a strategically designed Auto-repair business can be a lucrative venture. This consideration prompts the establishment of my Auto-repair company with the intention of capitalizing on this opportunity. The business will operate under the brand name Smart-Autos, and will offer diverse Auto repair services that are customized to clients’ needs. The business initiates its activities in the American economy, but it aim entails commanding the global Auto-repair market. Due to the economic conditions and the situations that face the business, there exists a need designing effective strategies that would make the business emerge a victor (Peraino, 2000). Preparing a calculative business plan marks the initial vital step for establishing a successful business. A business plan shows the position of the business and the plans for the future. The paper presents an overview of the Smart-Autos business plan.
The Business and Services Overview
Smart-Autos will essentially offer diverse Auto repair services. The company’s motto will emphasize provision of quality services at reduced reasonable costs. The vision of the business values the need of creating a customer-friendly business with strong command in the global Auto-repair industry. The vision further emphasizes the significance of expanding Smart-Auto’s activities to responds to the consumers’ needs while increasing its returns. The mission of the company highlights the significance of creating sustainable enterprises by fostering social entrepreneurship in order to improve society’s welfare. The mission also encourages parties to undertake their roles to enhance the process of economic development in company’s environs.
Although there are other firms that offer the services that Smart-Autos will be trading in, the business differentiates from all the others courtesy of the quality of services. At Smart Autos, quality will be a priority in order to offer satisfactory services to their clients. Furthermore, the company will provide customized services that respond to the needs presented by each client. Smart-Autos will also offer services at discounted prices to enhance their affordability (Peraino, 2000).
Market Analysis and Strategic Marketing
There are well-established service providers in the auto-repair industry. However, consumers tend to run from marker leaders because they offer their services at a comparatively higher cost. Furthermore, the Auto-repair industry is characterized with low levels of consumer loyalties. The competitors do not offer customised services hence most customers are mainly not satisfied with the services that they receive. The consumers favour a door-to-door delivery system that would enable them to receive the commodities conveniently once they ordered them. However, few enterprises are offering these services, which present a strategic opportunity for the Smart-Autos. Particularly, most consumers assert that face difficulties in accessing auto-repair services especially in emergency cases. The identified gap that exists between the consumers and the distributors can serve as a strategic entry point for the Smart-Autos business. The business would seek to bridges the needs of the customers and the interest of their business to provide the commodity to the people at lower prices and through means that are more convenient.
According to Peraino (2000), enterprises need to have knowledge of the market capture, operation, dominance, and control when formulating their business plans. Evaluation of the Auto-repair market highlights that new business venturing the industry present low rates of market coverage. However, effective analysis reveals that strategic Auto-repair companies are capable expanding within the industry in relatively shorter times. In order to realize the vision, the business will set up branches in different states in America to be accessible to all the people in America. Marketing strategies of the business deem essential in the growth and expansion of the business. In order to make people aware of the business and its vast services, the management will employ heavy promotional strategies so that the people feel the household importance of Smart-Auto business. In the promotional endeavours, the internet will be an important advertising tool owing to the fact that most of the Americans utilize the internet in their daily activities.
Analysis of the Company and Strategic Marketing
Conducting a SWOT analysis for the Smart-Auto business is vital in formulating effective marketing strategies that could foster the activities of the business. The business has major strengths in various areas of operation that steer the dream for a national outlook before the onset of the distinction Auto-repair business. Firstly, the management of the business will provide the best space for the business to explore the Auto-repair industry and tap the demand streak throughout the American land. Through the competence and experience, the management expects to institute plans and programs that will see the business flourish in the American market. The delivery services of the business provide a chance for the business to outsmart the competitors easily. Considering that, the competitors do not offer door-to-door services, Smart-Autos business aims at the door-to-door services that will see the customers’ wave towards the business. Promotional strength provides the business with an edge above the competitors. Most of the competitors in the market use personal selling and advertising, which present a good number of the American population as victims. However, combining these methods with the internet will help Sunrise business edge out the competition and outdo many competitors in the market.
As much as the expansion and development opportunities galore in the market, Smart-Autos businesses faces a tough task of fighting against its challenges. Firstly, the business faces financial weaknesses in the quest to succeed in the business market. The business faces many activities that require financial ability. For example, the business must pay the management and the employees, meaning that it must have enough finances in order to carry out effective management. Furthermore, product and institutional promotion will require ample investment thus; some of the competitors possess upper favours in the product promotional efforts. Competition threatens the existence and the survival of the business in the market. However, competition will only face the business off if the business lacks the support and work force to handle the competition. Consequently, the business must arm up with resources to counter the competition both tactically and financially. Selection of the members of the management board of directors presents the greatest threat to the business. Any mistake in the selection of the members will affect the long-term plans of the business will mean that the business lives with the weaknesses for some time and this may lead to the eventual failure of the business. However, selecting the committee to vet the members of the board will provide the insight into the best that the board can have.
The location of the branches, which the business will operate in, presents a serious challenge to the business although it deems easier to deal with the challenges (Crawford, 1998). Many of the states in America have specific business locations that operate for main functions. However, the locations appear to be the same places where the competitors have their premises and their offices. This means that the business must either assert their authority amidst competing businesses or get into the remote business areas. However, with the experience of the management, location of the main and supplementary branches will present little block due to their prowess. Returns and the projections mean that the business will have to embrace some of the latest technological aspects. Records of the employees, the distributions, the earnings, and the costs must all appear in logical ways that depict competence and professionalism. However, in order for the business to have well updated records and clean return sheets, money must come into force. The monetary aspect of all the dealings in the accountability and reporting standards present one of the major challenges in the establishment of a strong business empire.
Personnel Plan
The business will have an elaborate management system that will include a manager and director running all the affairs of the business. A board will come into force to ensure joint authority when making important decisions regarding the business. The management team will comprises of people with commanding experience from different fields, who will aim at improving the standards of the business to respectable levels. For a person to qualify, as a member of the boards of directors, the recruiting team will evaluate the conduct of the candidate to establish his or her competence. Only people with the required levels of education and a well outstanding record of accomplishment will secure contracts with the business. For any person to serve on any position in the business, the academic level, the level of prowess and their records of accomplishment will be scrutinised accordingly.
Financial Plan
The business need to have an effective strategy for obtain capital and the finance for supporting its activities in order to success. Consequently, Smart-Auto’s financial plan will comprise the following. Initially, the business will raise its start up capital from contributions from its stakeholders. An important financial strategy for developing the business will include re-investing the earned profits in order to grow the business. Lastly, the business will try to secure financial support from the government and other strategic agencies. Financial management strategies will encourage transparency and effective evaluation of the company’s performance. For example, the business will often be conducting financial audit and provide its statements of accounts annually. Furthermore, the business will be obliged to provide complete annual forecasts of the incomes, expenditures, and profits.
Although Smart-Autos may face a number of challenges in the effort of developing its activities, the company has various opportunities that can result to a profitable venture if exploited accordingly. The business possesses high chances to expand and develop throughout the American economy and control the whole distribution of the Auto-repair business in the region. The Smart-Auto’s business presents prospects for growth, which affirms the significance of adopting this plan to take advantage of this lucrative venture.
Works cited
Crawford, W. (1998). Guerrilla business: Automate your business plan. Database, 21(5), 87-88. Retrieved from http://search.proquest.com/docview/213828029?accountid=45049
Peraino, K. (2000, Sep 25). Business plan in a can. Newsweek, 136, 78-78. Retrieved from http://search.proquest.com/docview/214308040?accountid=45049
