Automobile Restoration Business Plan
Phaethon’s Chariot is an auto restoration shop that is just starting out. The company is focused on the restoration of American cars and the design and construction of street rods and hot rods. We specialize in body work and rust removal. Phaethon’s Chariot recently rented a state-of the-art restoration shop at 510 W.200th Terrace Circle Boulevard in Centerton, Ohmstate. The company is dedicated to providing the highest quality workmanship. Phaethon’s Chariot keeps up on all the latest tools and techniques of the trade to perform the highest quality work possible today.
Phaethon’s Chariot, located in Centerton. Ohmstate. Our company and employees are dedicated to doing each job right the first time, and retaining each car owner as a lifetime customer of our shop.
The company is a Ohmstate corporation chartered by the state, and owned by Isoroku Tarnmaclahan. For over 20 years, the owner of the company worked for other shops in Highland Valley. She is committed every day to excellence. The company can retain more work with the new space. The 500-square-foot office space is located in the Shop, which houses the daily work on the cars.
Phaethon’, Chariot Restorations’ seven closest communities are home to 918 279 people. This would indicate that the area has a market for restorations worth more than $2.0 million each year. The company’s goal in this area is to obtain a comfortable share.
The marketing research and tailored marketing strategy described in this business plan will result in modest after-tax profits of in year 1, quadrupling after-tax profits within three years. It is estimated that by year 3, revenues will reflect a healthy market share of the local restoration market.
The company’s goal is to reach the Highland Valley and the surrounding areas within the next 12 months. Our market segment will be 30- to 65-year old owners of old American cars. We intend to expand our company to the Carahge City area of Mythtate after year three. We found that there is not much competition for our business in the Carahge Area.
1.1 Objectives
- In the Highland Valley, penetrate the market for automotive restoration. Within the next twelve months, it is the objective of the company to market to the local area to promote our business in the Highland Valley and surrounding areas, our market segment will be 30 to 65 years old men and women who own old American cars. We will be expanding our business to Carahge City, Mythtate in the second year. Our studies show that there is very little competition in the Carahge City area for our business.
- This will significantly increase profitability. Normalizing pricing structures will encourage prices-sensitive jobs to move elsewhere. This will allow for more high-end custom work to be performed for the less price-sensitive restoration market sector. This pricing will ensure a quadrupling in net profits for the third consecutive year.
- To improve the organization’s administrative processes. This will allow a reduction in the owner’s involvement in simple administrative tasks from 50% of his time to 20%, thereby allowing him more time for sales and marketing tasks.
1.2 Mission
Phaethon’, Chariot’s mission it to do the best quality work possible at an affordable price is our goal.
- We can accomplish this by only using what is best for our restoration.
- We use only the finest parts and supplies on the market today to produce high-quality work.
- Our shop only hires the best people.
- We have a metal fabricator that can build any part we cannot locate for you car.
- Before we hire any restoration technician, we have to go through a rigorous hiring process. We employ only the best people to do our work.
At Phaethon’s Chariot Restorations you will get only the best quality work done on your car.
1.3 Keys to Success
The keys to success will include:
- Maintaining a positive reputation within the community
- High quality care.
- Competitive pricing.
- Flexible hours