TIRE RETREADING BUSINESS PLAN SAMPLE
Basically, the tire retreading company or shop retreads tires for the consumer, commercial and industrial uses. They also involve in other industry related services like vulcanizing.
Have you been searching for a tire retreading business plan sample? I well know how important a business plan is, especially as it may assist you in securing a loan for your business.
This article presents you with a tire retreading business plan sample that will assist you in drafting one for your tire retreading business.
Below, is a tire retreading business plan sample.
BUSINESS NAME: John Scott Tire Retreading Company.
- Executive Summary
- Business Objectives
- Mission Statement
- Business Structure
- Products and Services
- Market Analysis
- Sales and Marketing Strategy
- Sales Forecast
- Financial Plan
- Conclusion
EXECUTIVE SUMMARY
John Scott Tire Retreading Company is a tire retreading business that is fully registered and licensed with the relevant authorities in Connecticut and the United States. The company will be a sole proprietorship business that will be owned and managed by the businessman, John Scott.
The company will be providing numerous tire retreading and recapping services, as well as other relevant services in the industry. The business will be located in one of the busy roads region in Connecticut, United States.
The business will be committed to positioning itself as a leader in the tire retreading industry, all over the United States. The business will do all permissible by law to accomplish its business goals and vision; and it will also make sure to hire the right employees that can help the company to realize its vision.
VISION STATEMENT
At John Scott Tire Retreading business, our business vision is to become the major and leading tire treading business in Connecticut, and to be counted among the top rated tire retreading businesses in the United States. Our business objectives to achieve our business vision are as follows:
- To establish and grow our tire retreading business big within our first two years.
- To implement our expansion plans to expand our tire retreading business into various cities in the country.
- To develop foreign markets across Europe and Asia through licensing agreements.
MISSION STATEMENT
Our mission at John Scott Tire Retreading shop is to provide our tire retreading and recapping services at cost effective price rates to all our customers in Connecticut, and all over the United States. Also, we will make sure to provide our customers with durable products.
BUSINESS STRUCTURE
John Scott Tire Retreading business will start off at a medium scale, and in the space of two (2) years, grow big into a formidable company in the industry that is capable of competing with the top and very best in tire retreading industry, both in Connecticut and the United States at large.
In the forthcoming years, preferably before our sixth year anniversary, we will have established and expanded our tire retreading business into various cities in the United States. We will not be able to establish our business as force in the industry, and achieve our business vision if we fail to set up a rocky business foundation for our company.
This, we must achieve by hiring the right employees for our tire retreading business.
We will make sure to hire the services of competent individuals who are willing and enthusiastic about working with us to achieve our business vision and goals. The following are the key positions that will be filled by prospective employees:
- Shop Manager.
- Sales and Marketing Manager.
- Accountants / Cashiers.
- Human Resources and Admin Manager.
- Information Technologist.
- Customer Services Executive.
- Machine operators.
PRODUCTS AND SERVICES
John Scott Tire Retreading business will do everything possible under the laws of Connecticut and the United States to ensure it achieves its set out business goals and vision. The business will be focused on delivering to their customers the following services within the industry:
- Retreading of freight-truck tires.
- Retreading of industrial tires.
- Retreading of light-truck tires.
- Retreading of off-road tires.
- Sales of tire tubes.
- Sales of tire rims
It is from the provision of these services that the company will generate its income and revenues for the running and operations necessary.
MARKET ANALYSIS
Market Trends
One of the major market trends is the fact that the United States government fully supports the use of retread tires for the purpose of promoting environmental and economic efficiency of the country, especially for federal vehicles.
Also, it is now very obvious to find tire retreading and recapping shops providing other services that include the sales of tire accessories, as well as providing vulcanizing services to their customers.
Target Market
The following groups constitute our target market:
- Vehicle owners.
- Car dealership shops.
- Tire Dealers and Merchant.
- Corporate Organizations.
- Haulage Companies.
MARKETING AND SALES STRATEGY
For us to be able to position our business into the desired level, we will make sure to fully take advantage of the following marketing strategies:
- We will introduce our tire retreading business and services to the populace by sending out introductory letters to various groups and bodies.
- We will list our tire retreading business on local directories.
- We will make use of the internet and social media such as Facebook and Twitter.
- We will establish a website for our business where our clients could visit.
- Establish loyalty programmes to encourage and show our appreciation to our faithful customers.
SALES FORECAST
The following is the projected forecast for John Scott Tire Retreading business. It is a projection that shows the estimated figures for our business in the next three years.
First Year $300,000
Second Year $500,500
Third Year $800,500
FINANCIAL PLAN
Source of Startup Expenditure (Budget)
An estimated figure that amounts to $800,000 will be required as the budget for starting John Scott Tire Retreading business in Connecticut, United States. The capital will be raised from the owner John Scott, and from his friends and family.
John Scott, who is a very successful businessman, will raise $500,000 from his various business investments across the country. The other $300,000 will be sourced from his family & relatives, and from trusted business friends and allies.
CONCLUSION
This tire treading business plan sample has used John Scott Tire Retreading Company as the company name. The company will be located in Connecticut, United States, and subsequent expansions will be made into other cities in the country.
The business will require a minimum of $800,000 as budget to start off. The company will not require more than eight (8) key managerial positions to be filled for smooth running and operation. In all, the company will do all within its limit to accomplish its dream.