Business Plan for Precision Auto Detailing Chad Frank and
Business Plan for Precision Auto Detailing
Chad Frank and Kyle Carson both in their 20s worked for oneof the largest package delivery services in the world but their jobs on thepackage-sorting line were just jobs Chad and Kyle wanted more from their workthan their current jobs could offer that what led them to buy a local autodetailing business, Precision Auto Detailing they could work together theirregular job from 6pm to 10 pm and devote the early part of the day to runningtheir own company they invested $6,000 in the business that just bought themsome tools and equipment (most of it old) a lease on a building in a hightraffic location and a small base of established customers some of who werelocal car dealers Chad and Kyle kept both the part-time workers the otherowner hired and began making sales calls to the other car dealers in the areato try to earn their business They offered pick-up and delivery of the carsthey cleaned and they always inspected the cars before they were returned totheir owners their strategy was to give top quality service and convenience fora fair price their prices ranged from $100 for basic detailing to $250 for thetop of the line specialty cleaning which resembled an auto restoration jobwithin 8 months the sale were growing rapidly due to the personal sellingefforts of the new owners and the quality of the work of the company gave toits customers Chad and Kyle knew they had to buy new equipment and after thecustomer inquiries they were thinking of buying the equipment to offer aspray-on truck bed liner service the bedliner eqiupment is $30,000 initiallybut retail prices to customers for this service would start at $350 and updepending on the size of the truck and options selected the business isprofitable since they bought it but they have been giving all the profits backin the company they retained earnings but not enough to sustain the fast growththat the company is getting they disgusted at a family gathering that they needmoney but do not know where to go for it or what they need to get it theythought of going to a bank for a loan and they have never did this beforesomeone suggested a business plan because no bank will give a loan without abusiness plan so you send them an email explain why they need business plan,outline the elements you would recommend for them to include in their plan,what do bankers, lenders, or investors want to see in a business plan, whatadvice can you give them when they are ready to present their plan
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