TIRE SHOP BUSINESS PLAN SAMPLE AND FEASIBILITY STUDY REPORT FORMAT
With special focus on a tire shop business, this article specifically focuses on providing a working sample for entrepreneurs interested in this area of business but who have inadequate knowledge on how to put together a proper business plan.
Through the provision of the right guidelines, the entrepreneur is enabled to follow these laid down guidelines in writing his/her unique business plan through a process of brainstorming on what is true for his/her business. We begin the tire shop business plan sample under the following;
- Executive Summary
- Products and Services
- Our Vision
- Our Mission
- Target Market
- Competitive Advantage
- Sales and Marketing Strategy
- Revenue Projection
- Publicity and Advertising Strategy
- Payment Options
Durable Tires LLC to be located in California is a wholesale and retail tire shop business that will be offering quality tires that range from both brand new and fairly used tires. With adequate feasibility studies carried out, we will be competing favourably with other businesses that offer related services, ensuring that the viability of our business is assured through increased sales.
Products and Services
With mainly tire products as our main areas of expertise, we will be including a wide range of tire brands among our displayed tire products. This is in a bid to cater for the specific needs of our diverse clients who have their different tire brand preferences.
Among the products to be displayed at our business outlets are; the retail/wholesale of light vehicle tires, heavy duty trucks, tubes, rims, and also the provision of vulcanizing services among other value added services on offer.
Our vision at Durable Tires LLC is to be among the biggest tire shops within California within the first 5 years of our commencement of business. This will be driven by the high professionalism, fuelled by a dedicated workforce committed to accomplishment of the vision and ideals of our business.
Also, we have the vision of being a one-stop shop for all tire brands, ensuring that all major tire brands are available at all times. Building a good working relationship with major suppliers will help in achieving this goal.
At Durable Tires LLC, our mission is to fill the gap in demand of quality tire products, ensuring that while satisfying these critical needs, a good profit is made at no increased expense cost to our esteemed clients.
Our outlets will not be restricted to California alone, as we would be expanding our services to effectively cover the entire United States within 10 years from the commencement of business.
Our target market will include all automobile users. We will be including the sale of fairly used tires to the new ones in a bid to accommodate a wide range of clients with different financial strengths. Some of these include car owners, car dealerships, car hire companies, corporate bodies among several other targeted clients.
With our competitors offering essentially the same type of service, we will be brining in innovation into the way we offer our services to ensure that clients are treated to a much better service experience from our dedicated workforce.
Some of these areas of our competence include the strategic location of our tire shop which is located in a busy neighbourhood with lots of foot and vehicular traffic, raising the likelihood for increased patronage.
Also, we will be ensuring that our collections of tires are more diverse than what is obtainable in other tire shops in California. This is a strategy to increase patronage due to adequate stocking of tires of all brands, ensuring that clients do not need to go from one dealer to another.
Sales and Marketing Strategy
Among the sale and marketing strategies to be adopted is the creation of awareness among potential clients through the dissemination of introductory letters to both individuals and organizations to acquaint them with the services we render. Also, we will include a discount system to encourage and attract patronage to our tire shops.
We have carried out a research within the tire shop business industry, and findings have shown that we will achieve a steady growth in our revenues. Among the variables used for this research, variables such as the effects of economic recession and natural disasters have been discounted in arriving at the conclusion.
A brief summary is presented in the chart below;
- First Year $310,000
- Second Year $500,000
- Third Year $780,000
Publicity and Advertising Strategy
The publicity and advertising strategy to be deployed will include a wide range of channels such as paid adverts in both print and electronic platforms, the exploitation of the internet through the use of social media platforms to spread word on services offered by us.
We will also have a functional and user friendly website that will be displaying all the services offered by us.
The payment options to be used by us will include a variety of channels to adequately cater for the payment preferences of clients. Among such options are the use of POS machines, acceptance of cash payments, the use of mobile banking platforms, and acceptance of cheques among several other payment options.
This article has focused on the tire shop business plan sample, providing the basic requirements for writing an effective business plan for entrepreneurs that encounter difficulties in writing good business plans.
By following the procedures laid down, all the entrepreneur needs to do is simply to follow these procedures while brainstorming on what is true for his/her business.