The car is no longer seen as a convenience mode but as a passion. And this has increased the dementia of owning good looking luxurious cars. Be it Audi or Acura, almost every automobile car brand is coming up with their lush car models which are enough to allure people to the best.
Eventually, the demand for palatial cars has interestingly escalated the number of car workshops in almost every corner of the world. No matter, if it’s a posh locality or an old-fashioned street, a car workshop is something that you can find anywhere. Now, this has made it a great business option. And if you are one of those who have been looking out for some stream to start up your own business, then going for a car workshop nearby your home can be a good business deal waiting for you.
Let’s check out what you need and how much it may cost you.
- Business plan – A great business starts with a great idea. So, make sure to have a practical blueprint on which you can execute your activities pretty well. And for this, you must get in touch with an already established entrepreneur who belongs to the same stream. This won’t cost you anything as it is completely up to you how you make a plan.
- Outlet – Once you are done with a business plan then comes buying or renting a store. Make sure to choose an easily accessible location where people can conveniently come up with their cars or any other heavy vehicle. Apart from location, see how much space you require. For initial set up, look for a small store to save your bucks. Cost of outlet depends on the factor if you are going to buy it or rent it. If it’s about leasing the property then it may cost you around $20,000- $30,000 per month and the actual cost can be determined only by the region standards.
- Tools and other equipment – Screwdrivers, air jacks, breaker bar and other necessary tools must be at the top of your requirement list. Try to get your own garage equipment kit from Ireland, where you can get almost everything at a price that won’t burn a hole in your pocket. Buying a complete toolkit may cost you till $ 20000.
- License – Registering an outlet at your name is way easier than getting a legal license for setting up your business. For this, you need to submit your ID & residential proofs, a certificate of car mechanism. Once, you deposit your documents, a verification process initiates by the administrative authority after which your license is approved and issued. For this, you may need to pay a certain amount as a fee for issuing the license which varies with country and region standards.
- Business insurance – Make sure to have a secured insurance plan for your business and garage outlet. With this, you can manage your financial stability in the unfortunate circumstances. Having an insurance plan can help you secure your property in the best possible manner. It depends on you which insurance plan you need for your property. It may start from $5,000 and last till $50,000.
The bottom line-
It’s not just about a car workshop, no matter what business you go ahead with, all you need is a solid proof business plan where you have everything on your tips. The cost and procedure may vary according to the location and current economic rate.