Automotive repair business plan documents need to accomplish several things to be presented to a loan officer successfully. First, you must clearly outline the scope of your services. What types of repair will you limit yourself to? Will you service all makes and models? The market analysis is also critical. The market need for car repair is obvious enough, but what does it look like in your specific part of the country? More specifically, how many motorists pass by your proposed location each day? What is the average household expenditure on car repair? How many competitors are there within easy driving distance? There are other factors to review:
• - Make a concise executive summary but do not omit any critical details, like your funding needs and management overview
• - What will your personnel needs be for the coming three years?
• - Give as much information as you can about the leading competitors you'll face
• - How will you promote the business? Flyers, the Internet, referral cards?
• - Can you outline your anticipated use of funds?
Your automotive repair business plan will also need to show a three-year financial forecast including break-even point, cash flow statements, P&L, balance sheet, and a monthly projection for the first year. Software can help with this but make sure you double-check all projections. If you need help piecing together the business plan, MasterPlans has consultants who can help. Our in-house team of experts can guide your business plan every step of the way so that you can deliver it to the bank with confidence. Call a consultant at 877-453-2011 to talk about your automotive repair shop.
