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Business plan for auto spare part industry

  1. Auto Spare Parts Shop Business Plan — SWOT Analysis Our intention of starting just one outlet of our auto parts retail store in Charleston — South Carolina is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets all over major towns in South Carolina and key cities in the United States and Canada.
  2. Legal expenses for obtaining licenses and permits as well as the accounting services software, P. The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.
  3. Please note that this amount includes the salaries of all the staff for the first month of operation. Completed Purchase of Insurance for the Business.
  4. List our business and products on yellow pages ads local directories Leverage on the internet to promote our business Engage in direct marketing and sales Encourage the use of Word of mouth marketing referrals Join local chambers of commerce and industries to network and market our products Auto Spare Parts Shop Business Plan — Publicity and Advertising Strategy Despite the fact that our auto parts retail store is well located, we will still go ahead to intensify publicity for the business. Payment Options The payment policy adopted by Freeway Auto Parts Store is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Accountable for fixing prices and signing business deals In charge of providing direction for the busines Responsible for signing checks and documents on behalf of the company Appraises the success of the organization Reports to the board Responsible for overseeing the smooth running of HR and administrative tasks for the organization Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.

Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs. Informs job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.

Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments. Explains job positions for recruitment and managing interviewing process Carrying out staff induction for new team members In authority of working out, evaluation and assessment of employees Responsible for arranging travel, meetings and appointments Supervises the smooth running of the daily office activities.

Accountable for preparing financial reports, budgets, and financial statements for the organization Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.

Responsible for financial forecasting and risks analysis. Auto Spare Parts Shop Business Plan — SWOT Analysis Our intention of starting just one outlet of our auto parts retail store in Charleston — South Carolina is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then open other outlets all over major towns in South Carolina and key cities in the United States and Canada. We are quite aware that there are several auto parts retail stores all over Charleston and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

So also, our team of highly qualify staff members is also a plus for the business. The fact that we are going to be operating our auto parts retail store close to one of the largest residential estates in Charleston — South Carolina provides us with unlimited opportunities to sell our auto parts to a large number of individuals, auto repair, services and maintenance garages and transport companies.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our auto parts store outlets; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we may face is economic downturn. Another threat that may likely confront us is the arrival of a new auto parts retail outlet in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

No doubt, a massive rise in consumer confidence has also contributed in helping the industry experience remarkable growth, but uneven performance in these drivers has led to slightly constrained revenue growth for the industry. So also, the business plan for auto spare part industry demand for parts manufactured by a third-party manufacturing company, as a result of increasing disposable income and consumer sentiment, will result in revenue growth, but profit margins will stagnate as auto retail stores keep prices low to attract more sales amid growing competition.

As part of marketing strategies, auto parts retail stores engage in massive clearance sales and discount sales to attract customers. It is a strategy that helps them welcome new customers and also reinforce the loyalty of old customers.

Lastly, in recent time, the auto parts retail stores landscape has seen tremendous changes in the last 20 years; it has grown from the smaller outlets to a more organized and far reaching venture. The introduction of franchise and online store makes it easier for a retailer to reach out to a larger market far beyond the areas where his physical auto parts retail store is located.

Our Target Market Perhaps it will be safe to submit that the auto parts retail stores industry has one of the largest ranges of customers; almost every automobile owner would have one reason or the other to purchase automobile parts and accessories.

In view of that, we have positioned our auto parts retail store to service the residence of Charleston — South Carolina and every other location where franchise cum outlets of our auto parts retail stores will be located all over key cities in the United States of America and Canada.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us.

We are in business to retail a wide range of auto parts to the following groups of people and corporate organizations; Car business plan for auto spare part industry Auto repair, maintenance and servicing garages Transport companies Haulage companies Our Competitive Advantage A close study of the auto parts retail stores industry reveals that the market has become much more intensely competitive over the last decade.

As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of the stiffer competition and we are well prepared to compete favorably with other leading auto parts retail stores in Charleston — South Carolina and throughout the United States and Canada. Our auto parts retail store is located close to the largest residential estate in Charleston — South Carolina We have enough parking spaces that can accommodate well over 30 cars per time. One thing is certain; we will ensure that we have a wide range of auto parts from leading auto parts manufacturers available in our store at all times.

It will be difficult for customers to visit our auto parts retail store and not see the type of auto parts and accessories they are looking for. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us. Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category startups auto parts retail stores in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

A Sample Auto Spare Parts Shop Business Plan Template

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time. We are in the auto parts retail stores industry to maximize profits and we are going to go all the way out to ensure that we achieve or business goals and objectives. In essence, our source of income will be the retailing of a wide range of auto parts from different manufacturing companies at affordable prices.

We have been able to critically examine the auto parts retail stores industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.

The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Charleston — South Carolina. Please note that the above projection might be lower and at the same time it might be higher. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time. We hired experts who have good understanding of the auto parts retail stores industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Charleston — South Carolina.

In other to continue to be in business and grow, we must continue to sell the auto parts and accessories that are available in our store which is why we will go all out to empower or sales and marketing team to deliver. List business plan for auto spare part industry business and products on yellow pages ads local directories Leverage on the internet to promote our business Engage in direct marketing and sales Encourage the use of Word of mouth marketing referrals Join local chambers of commerce and industries to network and market our products Auto Spare Parts Shop Business Plan — Publicity and Advertising Strategy Despite the fact that our auto parts retail store is well located, we will still go ahead to intensify publicity for the business.

We are going to explore all available means to promote our auto parts retail store. As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand.

Here are the platforms we intend leveraging on to promote and advertise Freeway Auto Parts Stores; Place adverts on community based newspapers, radio stations and TV stations.

  • Please note that the above projection might be lower and at the same time it might be higher;
  • We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our auto parts store outlets; we are well positioned to take on the opportunities that will come our way;
  • Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Our Pricing Strategy Aside from quality, pricing is one of the key factors that gives leverage to auto parts retail stores, it is normal for consumers to go to places auto parts retail outlets where they can get auto parts and accessories at cheaper prices which is why big player in the auto parts stores industry like Advance Auto Parts, AutoZone Inc. Payment Options The payment policy adopted by Freeway Auto Parts Store is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our products and services.

Auto Parts Business Plan

Start — Up Expenditure Budget In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting an auto parts retail store business; it might differ in other countries due to the value of their money.

Legal expenses for obtaining licenses and permits as well as the accounting services software, P. The cost of launching a website: Please note that this amount includes the salaries of all the staff for the first month of operation. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start — up capital to 3 major sources.

These are the areas we intend generating our start — up capital; Generate part of the start — up capital from personal savings Source for soft loans from family members and friends Apply for loan from my Bank N. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

Auto Spare Parts Shop Business Plan — Sustainability and Expansion Strategy The future of a business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure.

A Sample Auto Spare Parts Shop Business Plan Template

We know that one of the ways of gaining approval and winning customers over is to retail our wide range of quality auto parts and accessories a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while. As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Completed Opening of Corporate Bank Accounts: Completed Opening Mobile Money Accounts: Completed Opening Online Payment Platforms: In Progress Application for business license business plan for auto spare part industry permit: Completed Purchase of Insurance for the Business: Completed Leasing of facility and remodeling the shop: In Progress Conducting Feasibility Studies: Completed Generating capital from family members: Completed Applications for Loan from the bank: In Progress Writing of Business Plan: In Progress Recruitment of employees: In Progress Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress Creating Official Website for the Company: In Progress Creating Awareness for the business both online and around the community: In Progress Compilation of our list of products that will be available in our store: Completed Establishing business relationship with vendors — manufacturers and suppliers of auto parts and accessories: