To start with any business, the most essential pre-requisites are, capital, complete knowledge about the technical and commercial aspects of the business, considerable experience of working at the grass root level and enough space to set up the business.
Apart from this, strong determination, patience, urge to compete and move ahead in the business and most importantly, an ability to learn new things and take calculated risks, are a few important qualities required to become a successful businessman.
Opening up a business is the first step towards turning into an entrepreneur and become an 'employer', rather than remaining an 'employee'.
You might have assisted some other mechanic for a few years, but now it is your turn to begin with your own business and thus, stand out distinctively in this enormous competition. This kind of business is not child's play. You need to plan a lot and then move further to launch your business.
Opening an Auto Repair Business
How to run a successful auto repair business? Well, planning, organizing, managing and sustaining the four most important pillars, holding the success of any business and automotive repair ones is not an exception to it.
You will be facing ups and downs, success and failures, etc. However, it is imperative to face all of them and yet, sustain in the competition. However, these are advanced aspects of the business (but you need to be aware of these in the beginning itself).
Volume and Scope of the Business
Logical thinking and planning are the most significant factors involved in this part. Logical thinking refers to thinking about the scope of your own knowledge and capacity to handle the business.
If you want to evolve gradually, you can begin with an automotive repair business offering few services such as, tire replacement, brake repairs or replacement of other parts of the vehicle. You can include, operations which are not too complicated and can help you earn considerable profits.
Once, your business gets settled, you can move on to introduce newer and advanced services, which will attract more customers, thereby contributing to larger profits. Logical thinking would thus decide the scope of your business.
Planning refers to the process which starts, once the logical thinking process gets over. Once, you have decided on everything you can, start planning things accordingly, like arranging space by either buying it or taking it on lease, mobilizing financial funds, etc. Planning would thus decide the volume of your business.
Checking Out the Law
As soon as you are done with planning the preliminary necessities, you can proceed to check out law and order, associated with setting up an auto repairing business.
The most important document in this regard is the licensure to open the business. It is necessary to obtain a license from the Department of Agriculture, garage operating license and sales certificates and documents in order to open and further run the business.
Organizing and Managing Financial Funds
Capital is amongst the most important factors required to set up a business. For this, you need to contact financial institutes offering business loans. Look out for financial institutes offering a low rate of interest (needless to say!).
You need to prepare a business plan and then explain it to the concerned authorities, so that they get convinced about the success and substantial nature of your business. Using the financial resources wisely, also forms a significant part of starting and operating the business.
Set Up Business Systems and Recruit Staff
Your automotive repair business is not just a garage, but it is a well planned organization, which intends to offer the best possible customer service. It is therefore necessary for you to set up well-defined and well-organized systems, so that the administration, as well as the operations department of your business, function efficiently.
For this, you need to open a bank account in the name of your business and also initiate an invoice system, so as to define a pattern of printing work orders.
Now, another challenge in front of you is to, recruit staff. You will need experienced mechanics and some people looking after the administration issues of your business. Contact recruitment agencies for this purpose. This would ensure, some good candidates applying for a job in your organization.
Set up parameters for technical knowledge, personal qualities, intellectual abilities, experience etc, while interviewing and further, recruiting the candidates. Once employed, clear out things such as, payments, code of conduct, entry and exit formalities, leave policy, operating procedures etc.
Marketing, Promoting and Advertising
You need to do some marketing and promotional activities to attract clients. You can either do the work yourself, by studying the current market situation, position of your nearest competitors and the needs and demands of the customer. Or else, you can opt for marketing services providers, who will do the work for you, by charging the stipulated fees.
Promoting and advertising go hand in hand. You need to advertise and promote your business, so that people come to know about your services. Prepare business cards to advertise your business on an individual level. You can contact advertising agencies and specify the targeted customers and the area, wherein you want your business to be advertised the most.
Fulfillment of commitment and optimum customer satisfaction play an important role in increasing the profits of your business. Remember, the more organized and dedicated you are, the more are your profits and the higher is your success rate. So now, just go ahead and initiate your first step towards becoming a successful businessman. Good luck!