Every car needs to have its oil changed once in a while. All car owners will have the choice to either do this themselves or hire an expert to do the job quickly and professionally. While oil changing is a simple process, many people do not have the know how or spare time to do it. This is leading more and more customers into the field who need their oils changed! Starting a fast lube business is a great way to solve this problem, as well as charge a fair price for your services. People who have always wanted to start a business but don’t know what to sell, here is your answer, a quick guide on how to start your own fast lube business.
Step One: The Business Plan
This is your first call to action and the most boring part. In this plan you should include information about the services you wish to offer, and how you plan on separating yourself from the competition. For example, you can state that you are going to do oil changes and that fast lube software will help you serve more customers on a daily basis. You should also include a brief overview of similar businesses in your area, and how you expect them to impact your day to day business. Mock up some financial projections such as a cash flow forecast and income statements. This is also where you will state whether you are going to buy into a franchise or start your own enterprise.
Step Two: The Money
You will need money to cover the varying costs of starting a business. This includes payment for the equipment, fast lube software as well as insurance, in case anything goes wrong. If you have some liquid assets you can use, great. Those who need to borrow money will need to talk to their banks or local venture capital firms.
Step Three: The Business
Once you have your money, you are all set to start your business. Make sure you register the company and you are free to start approaching customers. Starting by offering your services to friends is a good place to begin. After that, marketing in local newspapers and magazines is a sure fire way to get your first few real customers!
