DIY Wash N’ Fix is a new concept in auto care. As evidenced by the rise of DIY housing suppliers, the Do-It Yourself (DIY), market is becoming more popular in America. There is still a need for DIY auto repairs. Currently, firms sell auto parts and tools but not the actual work. Therefore, our business idea is to provide a professional environment in which to wash, paint or repair your automobile. DIY Wash N’′ Fix is a good idea because of the current economic slowdown. This could influence consumers to change their spending habits. Assuming someone has the required skills or the desire to learn auto repair, they will likely be inclined to use our facility to cut costs. The sales of after-market parts for autos has been growing, which shows Americans’ willingness and ability to fix their cars. The car wash industry is attractive, because it generates steady profits on little additional investment. A lot of the businesses in the carwash and auto repair industries are currently owned by retirees. This makes them a great place to make excellent acquisitions.
DIY Wash N’′ Fix targets a particular market that wants to repair their cars but lacks the space or equipment. This market is growing because so many people live and work in urban areas that don’t allow for on-site car repair. The target market for our business is 90% of males between 18 and 55 who earn between $20,000 and $40,000 annually. These demographics are the reason we chose Texas, Florida, or California to locate our facility.
DIY Wash NՉ۪ Repair is a brand new and exciting concept. We estimate that it will be profitable. The fact that we are the first in this business gives us a first-mover advantage over any competitors that may follow.
1.1 Keys to Success
These are the key success factors of this industry:
- High quality service
- It is a good business practice.
- Skilled workforce
- Marketing efforts/information to customers
- Modern technology has enabled the production of advanced equipment.
- Awareness of environmental issues
These trends offer some reasons to believe that our business will succeed. We are seeing the American economy slow down and possible rising costs for our rivals (technology, labor environment, etc.). will facilitate the growth of the DIY business. Additionally, people may distrust certain repair shops due to their bad reputation. In terms of projected profits, the repair industry can be a great investment.
But, there are two main threats. First, people may not be able to repair their cars on their own due to the advancement in technology. There are laws in many states that require regular inspections of safety and emission levels. These will be required by traditional garages even for regular customers.
Car Wash Competitors
- Single-activity Car Washes: These are typically private-owned businesses which offer car wash service only.
- Multiple-activity car washes: they are chains that offer many services; for instance, AAA, a California based car-care facility, has recently announced the opening of a full-service car wash, in addition to its repair services, shops, free Internet access and children’s play area.
In terms of number, the multiple-activity car washes have a smaller pool. They are, however, more similar to our business process and therefore are considered the main threat.
1.2 Objectives
It is appropriate to discuss the risks inherent in our business model. Our plan assumes that there is a part of the population that can do basic repairs on their vehicles, but they are limited by lackof proper workspaces and the right tools. Appropriate pricing is an important factor in our success. This allows us to attract and maintain this customer segment. Unexpected expenses can be a problem in any business, so we need to plan for them.