Top Questions To Answer as You Draft Your Business Plan

 Top Questions To Answer as You Draft Your Business Plan

If you’re getting serious about opening an auto repair shop, it’s time to draft your business plan, which is a document that explains your company to investors. Here are the top questions you need to answer as you write your eye-catching plan.

Where Do You Get Your Parts?

To repair cars, you need to have a reliable source for replacement parts, or else you risk not making a profit on your repair jobs. Research the different options in your area for low cost country sourcing, and talk to several companies to get price quotes. List the top three contenders on your business plan along with their pricing details, contact information, and location.

What Services Do You Provide?

Not all auto repair stores provide the same services. Some only address problems with their customers’ cars, such as dying batteries, broken transmissions, and stalling engines. Others conduct diagnostic tests such as emissions checks, and some companies also offer oil changes and tire refills. Decide which services to provide based on how many employees and machines you can afford.

What Cars Do You Take Care Of?

Many cars operate in similar ways, and once you understand the operations of standard brands such as Ford and Toyota, you’re all set. However, some brands are notoriously difficult and void warranties if repairs aren’t conducted by someone with special training. Volkswagon is one such brand. Determine which brands you have the expertise and budget to service and note these details on your business plan.

Your business plan is an important document. It proves to your investors that you’re serious about opening your car repair shop, and it helps you see what aspects you still need to work on. Don’t forget to answer these questions thoroughly before your first meeting with investors so that you’re fully prepared.

Dom Charlie

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