Opening up a car garage business is a financial sound and moderately difficult task. The demand for this business is based on satisfying customer need to keep his car in good condition. As there are at least thousand of collisions that occur in the United States and there is a great need for car garage businesses in the market. In last article we covered as to how you can plan on owning the car garage business. It started with taking certification and experience in auto repair business and making plans on how the service should be to making financial plans to open up the business.
In this article, we will cover all the details outlining the requirement to open up the actual business.
Write a Business Plan: Before starting any business, always write a business plan. It will give you accurate detail regarding present and future expectation. It will give you clear outline on where the business is headed and what will it cost to open and maintain the garage. It is better to write down goals and future plans to get a definite outline.
Pick the right location: Before picking out a location, remember the real estate mantra – “Location, Location, Location…”
Find a spot that is on the market that is near to highway, busy street or at least where there is traffic to improve the future of your business. Having a business where it is easy for the customer to spot you will increase the business. Also try to make your shop look attractive to the customer so that they feel comfortable.
Contact local Chamber of Commerce: Call your local chamber of commerce where you want to start the business. They have information on available financial resource and tips on how to start the business in their area. Become their member to receive the support that will help you build right kind of network. They can also help get in touch with local suppliers and other business owner who may help you.
Get the State and Federal License: Call local state bureau to get an idea on what license you might need to open up the business. In the US, you will require Federal Tax ID and Employer Identification Number (EIN) which will be a requirement if you intend to add employees to your business. Obtain state tax id and other state licenses that will help you open up the business.
Open up a Business Account: Open up a business account in the bank so that you can pay for your business expense. This will also help you avoid business audits and maintain transparency over your business related transaction. Try storing all the financial documents and try using the account for most of the expenses. This will also help you keep track of expenses while paying taxes.
Take Business Insurance: Take business insurance from reputed tax provider. This could be insurance against fire, hurricane, anti-theft insurance, employee related insurance like disability insurance. It is better to protect business against unwarranted calamities.
Hire Knowledgeable Employees: Hire good auto technician that will help you build good and solid reputation.
Advertise your Business: Once you know the location and time when you will start the business, start sending out flyers to the potential customer. Send out information to contacts on your mailing list. Make brochures and business cards and distribute them so that the customers can know about your business. Make your presence be felt online as the world today is slowly going digital.
Now you are ready to start you own car garage business.