Quenga, IHA Mark, Barry & Shine Shop Thank you very much. I really appreciate the input!! Funny Barry how you say you would have stuck to the basics, that's exactly what my business plan calls for. This is where I think my retail experience is going to really help me. All you guys that have taken time to help me Rock!!
If you had to start again..
- Thread starter dh3857
- Start date
All of this is great advice and the business plan is a big MUST. Plan everything out and have it in writing. It WILL change as you start your business and you should update that plan. Also the advice on accounting is huge. Keep track of what your spending, what your making, inventory, and everything for taxes. Hire a CPA because your time is money and a CPA can and will save you money in the end.
One mistake I made when starting my business (and I knew this from the beginning) is I started with lots of credit card debt and a big car loan on top of my other bills with no money put to the side for slow months. The only reason I went ahead and started the business anyways is because I knew if I didn't, I would get stuck in a rut at a low paying job with no benefits (economy) and not be able to leave because finding another one would be hard. There are other reasons but that is a main one.
Always have a goal in mind and make steps to that goal and have an exit strategy. Very important! Do not get too ahead of yourself either. Example: If you want to market more of the high end detailing side of things such as luxury, classic and exotic cars, do your homework first and make sure the demographics of your area match your business idea or target market. DOo not try to start right off the bat targeting only those customers because in reality it isn't going to happen. Start out offering basic details (quick in and out services that bring in $150+). Do NOT undersell yourself. Once you do, your current clientele will expect your same low price all the time and once you start raising your prices, they will leave. Another thing I would have done differently is when I threw in free services such as engine cleaning, fabric guard, etc, I didn't tell the customer I did it for free. One problem you may find is that next time you deal with this customer and you do not do the engine compartment again, they will be expecting it and not understand why you didn't do it again. I used to feel like I was trying to make them feel bad or something by telling them "oh by the way, I threw in a free engine cleaning".
Join a local business association as well! This to me is HUGE. Usually they do not cost much for a yearly membership and the networking you get from them is tremendous! I joined the local business association where I am at and every business in the city now knows who I am and I am their "go to" guy when it comes to automotive detailing or cosmetic work and supplies. A good thing with this too is that these people are also business owners and usually understand and appreciate your value in your services.
There are a ton of things I'd change but the above is my advice and what I would do over if I could. I could go on and on with more but in the meantime, get the books that were listed in this thread and read them. I have read most of them and agree they give great advice in all of them! Focus on marketing, sales, accounting and just basic socializing. Spend your money wisely and start small. No need to go out and spend $5000 on wrapping your vehicle, getting dozens of T shirts, polos, jackets, hats, decals, etc. Get some nice business cards, website (market this well), a couple shirts and hat and a decal for your rig. Let your work do the rest of the advertising and word of mouth. Later you can save the money to the side and do things like the towns/cities local newsletter, magazine, etc.
One mistake I made when starting my business (and I knew this from the beginning) is I started with lots of credit card debt and a big car loan on top of my other bills with no money put to the side for slow months. The only reason I went ahead and started the business anyways is because I knew if I didn't, I would get stuck in a rut at a low paying job with no benefits (economy) and not be able to leave because finding another one would be hard. There are other reasons but that is a main one.
Always have a goal in mind and make steps to that goal and have an exit strategy. Very important! Do not get too ahead of yourself either. Example: If you want to market more of the high end detailing side of things such as luxury, classic and exotic cars, do your homework first and make sure the demographics of your area match your business idea or target market. DOo not try to start right off the bat targeting only those customers because in reality it isn't going to happen. Start out offering basic details (quick in and out services that bring in $150+). Do NOT undersell yourself. Once you do, your current clientele will expect your same low price all the time and once you start raising your prices, they will leave. Another thing I would have done differently is when I threw in free services such as engine cleaning, fabric guard, etc, I didn't tell the customer I did it for free. One problem you may find is that next time you deal with this customer and you do not do the engine compartment again, they will be expecting it and not understand why you didn't do it again. I used to feel like I was trying to make them feel bad or something by telling them "oh by the way, I threw in a free engine cleaning".
Join a local business association as well! This to me is HUGE. Usually they do not cost much for a yearly membership and the networking you get from them is tremendous! I joined the local business association where I am at and every business in the city now knows who I am and I am their "go to" guy when it comes to automotive detailing or cosmetic work and supplies. A good thing with this too is that these people are also business owners and usually understand and appreciate your value in your services.
There are a ton of things I'd change but the above is my advice and what I would do over if I could. I could go on and on with more but in the meantime, get the books that were listed in this thread and read them. I have read most of them and agree they give great advice in all of them! Focus on marketing, sales, accounting and just basic socializing. Spend your money wisely and start small. No need to go out and spend $5000 on wrapping your vehicle, getting dozens of T shirts, polos, jackets, hats, decals, etc. Get some nice business cards, website (market this well), a couple shirts and hat and a decal for your rig. Let your work do the rest of the advertising and word of mouth. Later you can save the money to the side and do things like the towns/cities local newsletter, magazine, etc.
Concours.John
Auto Detail & Restoration
Shawn F. said:
This is a great post. I work with a lot of great collectors. But at the same time collectors and collections are like contract work. I myself am 40 years old and are a lot of things that you need to consider in your plan. I am not bragging or trying to saying I have done about everything. It will be my dream to be able to walkway from the shop and have people generating billable hours and I'm not there. Just understand you have to duplicate yourself.
John, you are exactly right, duplicate yourself. That is something that will take a very long time to find and build. You will never find someone that will work how you want them to but there are better candidates out there than others and it's finding the "one" who will make a good candidate that you can mold into pretty much "you". Finding employees seems almost impossible. I am in the process of doing it now and find that I get very discouraged and go home a lot of times wondering if I really think I can make it work and if I'll ever find someone who takes pride in their work instead of just wanting to make a quick buck and thats it... This is an area I need to focus learning on, how to find a good employee, what to look for, etc.
Shawn & John thanks for taking time out to help me!! I'm ordering all of the books listed this morning. My business plan is well underway at this point. Great looking cars and trucks have always been my passion. Since I owned my first car I was always looked at as the guy with the shiniest and cleanest car. With help from people like you guys I've taken myself to a much higher level. I hope that someday I can pay this forward to someone else who's in my shoes.