Are you a talented mechanic? A lot of mechanics waste their time working for others when they could be opening their own shops. If you are a dedicated mechanic with basic business skills and access to startup funds, you may be able to start a successful mechanic business. The following are a few essential tips on how to start a mechanic shop.
Weigh the Costs
There are a variety of costs related to starting an auto repair shop. Machinery makes up a considerable amount of upfront costs. Let’s take a look:
- Diagnostic Machines $5,000-$10,000.
- Shop Rent $1,500 – $15,000 per month depending on size and location.
- Insurance – $4,000 a year.
- Quality lift with installation – $3,700.
- Tool Sets with Specialty Tools – $15,000.
Find and Build a Good Location
Location is key. Match your type of services and pricing to a specific target market. It is important that your shop be located within traveling distance from the market’s home. Also ensure that the location is close to main roads and highways.
Pick a building that is bigger than what you need. The building should include a lobby where customers can wait for service.
Be willing to spend money on advertising the shop. This includes building a website. Also place ads in newspapers, on TV, on social media, and in mobile apps. Offer discounts and coupons to entice customers to visit your shop.
Reduce Your Employee Turnover Rate
Reduce employee turnover by treating employees well. Provide competitive pay, give good benefits, and give opportunities for advancement. This will ensure that your employees stay long enough to forge good, long-term relationships with customers.
Give Guarantees
Give guarantees to customers; this shows that you stand behind your work. Guarantees foster trust and makes customers want to return for maintenance and other services over time.
Use Automotive Appointment Scheduling Software
Utilize an automotive service scheduling software program to eliminate missed appointments and decrease overbookings. This will save valuable time and create more consistent and reliable service for customers.
Follow these steps on how to start a mechanic shop, and your business will be successful. FAM will help you with your endeavors. Our online cash advances will give you the funds to purchase the machinery, tools and buildings necessary to compete. We provide high risk cash advances in less than 72 hours. Contact us to learn more about our merchant cash advance loans.