How to Open a Garage Business | Step By Step Guide
Last updated on December 20th, 2023 at 02:25 am
Planning on starting a garage business? For those with a passion for cars and those that know their way around under the bonnet, this can be an incredibly rewarding business venture. Additionally, there is always a need for this type of business, which means that there is the potential for high levels of success even amidst a cost of living crisis and the petrol price increase. So, what steps do you need to take to open this type of business?
Study the Market
As with all new business ventures, the best place to start is with market research. You want to learn about other garage businesses in your area and determine who your target market is. With this information, you can then build a business that will stand out from the crowd and appeal to your target market.
Decide on Service Range
Next, you will want to think about what the best services to provide will be. There are a number of services that you could provide, including:
- Maintenance and repairs
- Servicing
- Repairs
- Modifications
Keep in mind that you may need qualifications for certain types of services, such as an MOT tester qualification if you plan on being an MOT test centre (a potentially lucrative service to provide). If you’re in the Stockport area, consider reaching out to MOT & car repairs Stockport for professional and reliable services. They have a team of qualified technicians who can handle a wide range of car repair and maintenance tasks, including MOT testing. Their expertise can help ensure your vehicle is safe and roadworthy.
Establish Your Budget
It is important that you calculate your startup and running costs before you get started so that you can avoid falling into financial difficulties early on (a common mistake). There will be a number of costs that you need to cover, including:
- Equipment and tools
- Rent for the garage
- Parts
- Salary for employees (if hiring)
- Tax
- Training
- Insurance
- Marketing
There are many ways to raise funding for a business idea, including business loans, investors and crowdfunding.
Choose a Suitable Location
The location is a very important decision with this type of business. You want to be somewhere that will be easy for people to reach and somewhere that people will drive past each day, but you also need to make sure that you have enough space for the entire operation.
Set the Price
In terms of pricing, you need to set competitive prices by researching what prices your competitors are setting. Avoid setting prices too high otherwise you will find it hard to attract customers.
Get Equipment & Tools
There are many pieces of equipment and tools that you will need. It is important to buy high-quality items that will allow you to complete work to a high standard. This will include a cordless impact wrench, engine hoist, screwdriver set, vice grips, pliers and many other items.
Start Advertising
You should also start advertising as early as you can to raise awareness, which will hopefully allow you to attract customers to the business from day one.
These are the key steps that will get you up and running and help you to find success.
