If you have got a thing for automobiles and you possess superlative repairing skills, an automobile workshop can be a profitable business. However, if you are planning to pursue this business idea, you must also possess the knowledge about the prerequisites.
1. Find a conducive location: Finding the right place to set-up your automobile workshop is of utmost importance. The success of your business depends largely on the location, and therefore, the location must be a central location - inside or close to one or more residential colonies having a considerable number of cars and bikes. Furthermore, the location should be free from competitors.
2. Purchase the right equipment: Equipment like wheel aligner, vehicle washer, wheel balancer, Hydraulic bottle jack, cable jacks etc are a must in any and every automobile repair workshop. The aforementioned machines complement your technical skills and give you the agility to serve more customers.
Complying to the above-mentioned prerequisites can be expensive, and exhausting your savings won’t be a good idea. Instead, you can obtain the required capital support to fund your business by applying for an engineer loan.
3. Employ the right people: Managing an automobile repair shop won’t be easy if you are planning to do it alone. You might be a multi-tasker but handling everything all by yourself will slow down the productivity of your workshop, leading to unsatisfied customers. Therefore, employ at least two or three assistants to help you in your work.
Also Read: Why Premises and Equipment Matter When Running an Auto Repair Workshop
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.