How Do I Start a New Auto Repair Shop While I’m on a Budget?
At the moment, there are more than 600,000 automotive service technicians and mechanics working throughout the country. Many of them work for existing car dealerships and auto repair shops.
If you would like to work at one of these establishments, you’re more than welcome to do it. But you might also want to consider opening up a new auto repair shop. It’ll help you make your mark on the automotive industry by embracing business ownership and becoming a small business owner.
Just make sure that you make it your mission to start the best auto repair shop possible. Even if you’re on a relatively tight budget, you can still get a great auto repair shop off the ground.
Here are the steps you’ll need to take to start a budget-friendly new auto repair shop.
Begin By Evaluating Your Potential Competition
Prior to starting a new auto repair shop in your city, you should check to see what your potential competition is going to look like. Google “auto repair shops near me” to see how many exist.
If your city is already flooded with auto repair shops, you might want to rethink your plan to start one. Or at the very least, you’ll want to be sure that you find a way to set your auto repair shop apart.
Whatever you do, don’t forget to scout your competition to see what they’re bringing to the table. It’ll help to make your auto repair shop unique in the end.
Come Up With A Foolproof Business Plan
Once you’ve taken a look around at the other auto repair shops in your area, you should begin to piece together a business plan. This business plan should include:
- A description of your auto repair shop
- Market analysis on other auto repair shops
- A list of the auto repair services you want to provide
- An executive summary for your auto repair shop
The more thorough your business plan is, the better off you’re going to be in the long run. So you should really take your time with your business plan to make it as foolproof as possible.
Obtain The Necessary Funding
You don’t necessarily need to spend a small fortune when you start a new auto repair shop. But you will need to have at least some money set aside to kickstart your new company.
If you have some money saved up that you can devote to starting a new auto repair shop, great. But if you don’t, you’ll need to search for a reputable lender to extend a small business loan to you.
This lender is likely going to want to see your business plan before they even think about offering a loan to you. It’s why you should have your business plan ready to go from the start.
Work To Legitimize A New Auto Repair Shop
After you obtain the funding that you’ll need to start a new auto repair shop, you should work to make it legit. To do this, you’ll need to:
- Create a name for your auto repair shop
- Get a business license for your auto repair shop
- Purchase a business insurance policy for your auto repair shop
Your new auto repair shop will begin to feel real once you do these things. It’ll motivate you to keep moving forward as you set out to start a new business.
Secure A Desirable Location
Choosing the right location for your new auto repair shop will obviously be of the utmost importance. If you don’t find the perfect location for it, you might struggle to attract customers to your shop.
You should look high and low throughout your city to find a few locations that would be ideal for a new auto repair shop. You want to attempt to set it up in a spot where plenty of people will see it when they’re driving around.
Purchase The Right Tools, Equipment, Supplies, And Software
Once you decide where you want your new auto repair shop, you’ll need to start to set up your shop so that you can prepare to open your front doors. You’ll want to do things like:
- Invest in all the tools that you’ll need to work on vehicles in your auto repair shop
- Buy the equipment that you’ll need to lift vehicles up off the ground in your auto repair shop
- Purchase engine oil, transmission fluid, belts and hoses, and other supplies for your auto repair shop
It would also be a good idea to pick up the best auto repair shop management software that you can find. This Tekmetric software would be a fantastic option for a new auto repair shop.
Figure Out An Effective Marketing Plan
As long as you do everything else that we’ve discussed here, your new auto repair shop should be all ready to go when you reach this point. The only thing left to do will be to market your auto repair shop to the masses.
To do this, you can run ads in local newspapers and on local radio stations. You can also send out postcards and flyers in the mail. You might even want to sponsor local Little League teams and community events.
Figuring out the most effective marketing plan will help you connect with those in your city. It’ll let them know about your new auto repair shop and have them reach out to you in no time.
You Can Start A New Auto Repair Shop Without Breaking The Bank
If you decide to start a new auto repair shop on a whim and don’t put enough thought into it, you’ll pay the price for doing it. You’ll end up spending way more than you may have planned to open up an auto repair shop.
You can avoid putting yourself in this position by following the steps listed here when opening a new auto repair shop. They’ll lead you in the right direction as you attempt to build a successful business from the ground up.
Learn more about how to start a new business by browsing through the rest of our blog articles.