WHEEL ALIGNMENT BUSINESS PLAN GUIDE
If you are interested on how you can start a wheel alignment business in your locality, here is a complete guide on how to get started.
You may feel the business is not that lucrative because you might be thinking that your job will just be to align customer’s wheel and that is all. You are certainly wrong if you are thinking in that direction.
Here is a sample business plan for starting a computerized wheel balancing and wheel alignment workshop.
There is more to just what you think about wheel alignment business. This post will act as an eye opener to you so you can see the hidden opportunities in starting a wheel alignment business.
For those who may not be clear about wheel alignment, let me give you a summarized significant of wheel alignment and how the business could be a lucrative one for you.
Wheel alignment does not only enhance the performance of cars; it also ensures the safety of people lives. If a vehicle’s wheel is out of balance, it can lead to death of people inside the vehicle as well as wear and tear.
When you align the wheel of a car into its original form, it is called wheel alignment and balancing. Some technicians are now using computerized tools for this job instead of manual as used before.
Hope this is clear to you now? Let us go straight to the main reason for this post which is, how to start a wheel alignment business.
How to Start a Computerized Car Wheel Alignment and Balancing Workshop
- Write a Business Plan
I know the stress involve with writing a wheel alignment and balancing business plan because I have done so many before by myself. The fact is, if you really want to succeed in wheel alignment business or any business at all, you need to create a business plan for the business.
A business plan keeps you on track to your business objectives and goals. One reason for failure in business is that some small business owners see the writing of business plans for only big business.
Research has shown that 7 out of 10 businesses failed as a result of lack of writing a business plan for their startup. If you need assistance in writing a business plan, there are many freelancers on freelancing sites like Fiverr that can help you do it for a cheaper fee.
- Estimate your Budget
It is only be unwise to embark on a business journey without first calculating what it will cost you to run such business effectively. You have to check if you can finance your wheel alignment business on your own or you will need to go seek for funds (which is one reason you need a business plan in the first place).
Go obtain the necessary funds from any financial institution that gives loan to entrepreneurs or if your savings can carry it, that will be better.
- Secure Business Permit
After estimating your budget and preparing your business plan, the next thing for you to do is go get license and permit from your state’s concerned authority. This is very mandatory if you want to run your wheel alignment business smoothly without being disturbed by authorities involved.
Find out which documents are needed to run this kind of business and get them before taking any next action.
- Select a Good Location
It is no more news the role location plays in business. Pick a business location that will allow you to deliver your wheel alignment services to your customers effectively. An ideal location for a wheel alignment business is by the roadside as vehicles do flow through such path.
Have it in mind that you will need a location with enough parking space for your customers.
- Get the Necessary Equipment
The most important thing you need to do next is to decide on the tools you will need in your wheel alignment workshop. Whether you decide to use manual tools or computerized wheel alignment and balancing machines, look up the price. It is left for you and if your budget can carry it.
For your wheel alignment business, you will need computerized machines to make work easy for you and faster so you can attend to other customers.
- Offer Other Services
You will be depriving yourself of multiple income stream if you just focus your wheel alignment business on wheel alignment and balancing only because that is what it is called. You need to offer additional services like oil change, car checkup and servicing even refreshment because customers have to wait for their wheels to be worked on.
These are various means of making extra cash from your customer’s pocket. Don’t fail to do this when you finally open your wheel alignment shop.
- Promote your Business
Lastly, you have to promote your business to your ideal customers. You can utilize various marketing strategies to get customers to your door step. Your advert should communicate the benefits your customers will get than the features you deliver.
Use posters, local newspaper, and radio if you can afford the time. Moreover, display a big banner of your wheel alignment business in front of your workshop so vehicle’s owners passing by can see it and think of you when they need your services.
WHEEL BALANCING AND ALIGNMENT BUSINESS PLAN GUIDE
For vehicle owners, problems may arise at anytime. These may be due to a variety of circumstances. Hitting a bump or entering a pothole at high or considerable speeds can distort the alignment of the wheels. This will require an alignment.
If you are a wheel alignment specialist, you are likely to find this wheel alignment business plan useful.
How so? You may ask. Well, having the skill and actually running a wheel alignment business are two different things.
The business side of things takes much more than being able to fix a wheel anomaly. It involves knowing how to set up a business and following a definite plan. This is why we advice our readers to do a feasibility research about their business before writing their plan.
Let’s get to business.
- Executive Summary
Geoffrey’s Wheels™ is a wheel alignment services provider. We offer high precision wheel alignment services for both small and large vehicles/trucks. Our service essentially involves the adjustment of wheel angles to match with factory specifications. This allows the steering wheel and suspensions function appropriately.
Lots of vehicle owners complain about dismal jobs provided by mechanics. At Geoffrey’s Wheels™, we ensure that our clients leave with smiles. Our business is located at the heart of Des Moines, Iowa. This is a prime location for wheel alignment services as there is heavy vehicular traffic around this area.
- Our Services
At Geoffrey’s Wheels™, our services basically consist of wheel alignment. This is an area of specialization where we are unbeatable! Our technicians are top class with a combined experience of 50 years! We prevent uneven wear of tires through the adjustment of wheel angles to match factory specifications. We are a business that thrives on the provision of excellent services and seek even better ways to impress our customers.
- Vision Statement
Ensuring that clients go back totally satisfied is part of our DNA. This has helped us build a reputation among vehicle owners within the city of Des Moines. This is not our ultimate goal as we intend to become the number one wheel alignment experts in the state of Iowa. This is achievable and we are determined to see to its actualization.
- Mission Statement
The many jobs we have handled have seen us bring smiles to many clients. This is an added incentive to us to serve even better. In view of this, we are incentivizing all aspects of our services to serve as motivation for our technicians to even do better. We are in the process of building a brand that will be second to none in the state of Iowa.
Our wheel alignment business has been financed through loans accessed from a reputable bank to the tune of $300,000.00. This loan attracts a monthly interest of 4%. The term limit for this loan is a 10 year period. Of the credit raised, we have been able to purchase quality equipment that will enable us get the job done faster and easier.
A running cost consisting of 30% of this sum was set aside.
- SWOT Analysis
Our business presents us with enormous potentials for growth. However we needed to know just how prepared we were for the task at hand. An independent and reputable consulting firm was hired to conduct a SWOT analysis. Its findings reveal the following;
In hiring our workforce, we have been careful to choose highly qualified technicians that share similar passions. In addition our management team is highly knowledgeable about how a small business should be guided from infancy to maturity. These set of people have successfully done so in their previous engagements. These all add up in making a strong team and brand.
Our weakness springs primarily from our status as a small business. There are successful wheel alignment franchises across America. These have grown into major brands that control a bigger share of the market. Although this is the situation, we have made some in-roads in getting our brand some recognition.
This is an area where potential is never lacking. We are always positive about our chances in the wheel alignment industry. Therefore our location is a prime to attracting first-time clients. We are also targeting similar locations in addition to the provision of highly professional services. These are factors that enable us to remain relevant in a tough business environment.
Lots of entrepreneurs are terrified by threats. Although they pose a real danger, our positive outlook remains strong.
We have identified our threats to include a major wheel alignment business opening shop next door. Also, there is the problem of enticement of our most qualified technicians by bigger businesses.
- Sales Projections
Sales are an important part of any business. Without sales, it will be only a matter of time before businesses like ours close shop.
Based on the current demand for wheel alignment services, we have done a three year sales projection to find out our potential for profits. The following is a summary of the findings;
- First Financial Year $150,000.00
- Second Financial Year $400,000.00
- Third Financial Year $950,000.00
- Competitive Advantage
Being a small business does not limit our capacity for growth. We have realized our strengths and are determined to exploit these to our advantage. The strong dedication of our technicians is an asset to us. This group of people has been trained to act in a professional and cheerful manner to all our clients. The same applies to all other members of staff that come in contact with clients.
These are the face of our business and have been trained to show the Geoffrey’s Wheels™ spirit of excellence.
- Marketing Strategies
Our marketing strategies are top notch. We have taken the pains to hire professionals with an excellent track record of marketing excellence. These will manage and coordinate all our marketing campaigns that will include car beautiful car stickers, a referral program where clients get rewarded for referring a new client, billboard adverts as well as electronic and print media advertisements.
- Target Market
Without vehicles, we will be out of business. Therefore our target market will include individuals, freight and haulage services, schools, corporations, and businesses. Patronage from these will ensure we have a steady stream of clients who are provided with our world class services.
Have you followed to this point? This is our wheel alignment business plan sample. This will certainly be of immense help to you. There is an important fact you need to know, before using this; you need to have an understanding of how this business works.
After writing your plan, you need to fully implement its contents. Only then will you be guaranteed of success.