The text is about a business plan for garage service. It contains several statistics and graphs. A plus is the cost calculation over the first years - regarding loss and profit as well as the cash flow plan. The business idea of Fixed & Tuned is based on the fact that there is a lack of working space in Edinburgh and the environment due to dense population. In order to solve this problem, the business provides working space, machines and tools for customers. Therefore, the clients are able to fix and tune their vehicles on their own. Furthermore, the company provides more services and extra offers, which will be presented later on, to satisfy the customer requirements.
The most important marketing action is the spread of the new business idea, in order to gain a client base and regular visiting car clubs. This will be achieved by an excellent service and a perfect working environment. This topic will be explained more detailed in the marketing mix. The biggest advantage of the company is the unique feature of the service in the wider area. Knowing the pricing of the indirect competitor, it is possible to make adjustments to our pricing, in order to be cheaper than normal workshops. This is very important because they provide mechanical maintenance done by an employee, whereas our business only provides the working environment. The management consists of the founders of the business. All will be deployed in their own field of knowledge, which was gained from studies and apprenticeships, in order to set up and keep the business running.
Table of Contents
- Executive Summary
- Description of Business Idea
- The Business Idea
- The Name
- Legal Structure
- Customer and Marketing
- Market analysis
- Primary research
- Secondary research
- Customer analysis
- Competitor Analysis
- Competitors
- Direct
- Indirect
- Competitive Business Strategy
- Competitors
- Marketing Mix 7Ps
- Product
- Price
- Place/Distribution
- Promotion/Communication
- People
- Physical Evidence
- Processes
- SWOT Analysis
- Market analysis
- Resources
- People and Administration
- Location
- Equipment
- Financials
- Investment costs and funding requirements
- Direct cost & overhead
- Financial Statement
- Profit and Loss
- Cash Flow
Objectives and Key Themes
The main objective of Fixed & Tuned is to address the lack of adequate workspace in Edinburgh for vehicle maintenance and repair. The business aims to provide a solution by offering customers workspace, tools, and machines to maintain and tune their vehicles independently. A key goal is to establish a strong customer base, including car clubs, through excellent service and a positive working environment. The unique service offering and competitive pricing strategy are also central to the business plan.
- Addressing the shortage of workspace for vehicle maintenance.
- Developing a competitive pricing strategy.
- Establishing a strong customer base through excellent service.
- Marketing and promotion of the unique service offering.
- Financial planning and securing funding.
Chapter Summaries
Executive Summary: The executive summary introduces Fixed & Tuned, a business addressing the lack of workspace for vehicle maintenance in Edinburgh. It highlights the core service—providing workspace, tools, and machines—and emphasizes the marketing strategy to attract customers and car clubs. The summary also touches upon the competitive pricing strategy, which undercuts traditional workshops by focusing solely on providing workspace, and presents projected financial figures, indicating strong growth potential despite initial low sales.
Description of Business Idea: This chapter details the core business concept of Fixed & Tuned. It elaborates on the provision of workspace, tools, and machines for customers to maintain their vehicles independently. The chapter also discusses the online and onsite booking system and the inclusion of parking facilities to cater to customer needs. The overall mission is explicitly stated as addressing the shortage of suitable workspace and improving the working environment for private vehicle owners.
Customer and Marketing: This section delves into the market analysis, encompassing both primary (an online survey) and secondary research. It analyzes customer behavior and profiles the typical customer. Competitor analysis, distinguishing between direct and indirect competitors, is also presented, along with the competitive business strategy, emphasizing the competitive advantage derived from offering a unique workspace solution. A significant part focuses on the marketing mix (7Ps), detailing how product, price, place, promotion, people, physical evidence, and processes will contribute to the business's success. Finally, a SWOT analysis is mentioned as part of the overall marketing strategy.
Resources: This chapter focuses on the resources required to operate Fixed & Tuned. It covers the personnel and administration aspects, detailing the roles of the founders and their expertise. The location of the business and the necessary equipment, including tools and machines, are also discussed, giving a comprehensive overview of the resources necessary for successful business operations.
Financials: This chapter details the financial aspects of Fixed & Tuned. It covers investment costs and funding requirements, providing a figure for startup capital. Direct costs and overheads are also discussed, setting the stage for a more thorough financial projection that includes profit and loss and cash flow statements. The detailed financial planning shows growth projection and profitability over the first three years.
Keywords
Vehicle maintenance, workspace provision, competitive pricing, marketing strategy, customer analysis, financial planning, tools, machines, Edinburgh, car clubs, limited liability company, online booking, SWOT analysis.
Fixed & Tuned Business Plan: Frequently Asked Questions
What is the main objective of Fixed & Tuned?
The primary objective of Fixed & Tuned is to address the lack of adequate workspace in Edinburgh for vehicle maintenance and repair. The business aims to provide a solution by offering customers workspace, tools, and machines to maintain and tune their vehicles independently.
What services does Fixed & Tuned offer?
Fixed & Tuned offers workspace, tools, and machines for customers to maintain and repair their vehicles. They also provide an online and onsite booking system and parking facilities.
Who is the target customer for Fixed & Tuned?
Fixed & Tuned targets individual vehicle owners and car clubs in Edinburgh who need a convenient and affordable place to maintain their vehicles.
What is the competitive advantage of Fixed & Tuned?
Fixed & Tuned's competitive advantage lies in its unique service offering – providing workspace and tools instead of a full-service repair shop. This allows them to offer competitive pricing while addressing a market need for affordable vehicle maintenance options.
What is the marketing strategy of Fixed & Tuned?
The marketing strategy includes a multi-faceted approach using online and offline methods to reach potential customers. This involves utilizing online surveys for primary research, analyzing competitors (both direct and indirect), and employing the 7Ps of the marketing mix (Product, Price, Place, Promotion, People, Physical Evidence, and Processes). A SWOT analysis informs overall marketing efforts.
What resources are required to operate Fixed & Tuned?
The resources include personnel (founders with relevant expertise), a suitable location in Edinburgh, and the necessary equipment (tools and machines) for vehicle maintenance.
What are the financial aspects of Fixed & Tuned?
The financial plan details investment costs, funding requirements, direct costs, overheads, and projected profit and loss, and cash flow statements over the first three years of operation. The plan projects profitability despite initial low sales.
What are the key themes of the Fixed & Tuned business plan?
Key themes include addressing the shortage of workspace for vehicle maintenance, developing a competitive pricing strategy, building a strong customer base, effective marketing and promotion, and robust financial planning.
What is included in the business plan?
The business plan includes an executive summary, a description of the business idea, customer and marketing analysis, resource planning, and a detailed financial projection.
What are the keywords associated with Fixed & Tuned?
Keywords include vehicle maintenance, workspace provision, competitive pricing, marketing strategy, customer analysis, financial planning, tools, machines, Edinburgh, car clubs, limited liability company, online booking, and SWOT analysis.
- Quote paper
- Anonym (Author), 2016, Business Plan for a garage service, Munich, GRIN Verlag, https://www.grin.com/document/507353
