Do you like to spend your leisure time tinkering away at old cars? You could create a car renovation business and turn passion into profit, at whatever scale suits your lifestyle. Here are our top tips for getting started, from checking out the competition and marketing to designing your workspace.
Research the market
If you want to make a success of your startup, it’s important to research the market you’re entering.
This will give you an insight into existing companies in your area and the standard services that are offered. You can then use this knowledge to identify gaps in the market and position your company within this space.
You should also read customer reviews to get a sense of what people want from a car renovation business and common issues that they experience. Armed with this information, you can become the solution for a host of shared problems.
Create the right space
Once you’ve set the foundations for your business venture, you need to create the right space.
Given that this work involves substances that could cause permanent damage such as oil and paint, a garage or rented warehouse is most suitable. Make sure that you have plenty of room to manoeuvre around the car(s) and that there’s enough space to store equipment safely.
After a thorough clean-out and declutter, fill the space with the tools you’ll need close at hand such as jacks and shackles to lift the vehicles, an impact wrench and a grinder. You’ll also require substances such as paint stripper as well as oil and other vehicle fluids.
Make sure that all equipment is of the highest quality so that your renovated cars have a fantastic finish.
Decide your prices
Next, you’ll need to decide your prices. It can be difficult knowing how much to charge, especially when you’re starting out, but you’ll need to position yourself carefully in order to make a profit.
Setting your prices too high could put off patrons and leave you with no work. However, going too low will minimise your profit margins and mean doing a lot of work for little reward.
Look at the price list of other companies in your area and aim to be around average for your services.
Start your marketing
When everything else is in place, it’s time to start your marketing and get the word out that you’re open for business!
A good marketing strategy combines digital platforms with organic marketing like business cards. Social media and a website will extend your reach and support your brand name, while word-of-mouth recommendations will drive sales in your local area and make your company more trusted by consumers.
Comments are closed.