Strategic Analysis with current research! Appliance Repair Service, Inc. The Company was founded by John Doe. This is an extremely important revenue center for the business as the contribution margins generated from providing these services is extremely high.
Sales Tax Permit For sale of spare parts Employer Identification Number EIN Federal Tax Identification Number Financing Your Appliance Repair Company Even though sourcing for start-up capital might not be so easy, it is not something that an entrepreneur can escape, which is why it is necessary that you have a comprehensive business plan at hand, especially if you are going to be sourcing for funds from private investors or a commercial bank, as your business plan is the only way by which they can take you seriously.
Below are some of the options that are available to you if you are looking for how to finance your appliance repair business; Generating part of your start-up capital from your savings or sale of stock Sourcing for soft appliance service business plan from friends and family members Applying for loan from a commercial bank Approaching a private investor to source for loans for your business Choosing a Suitable Location for your Appliance Repair Business Deciding on the appropriate location for your business is very important as the right location could cause your business to grow and boom, while the wrong one could cause your business to totter.
When choosing a location, it is important that you choose an area that would be within the hub of your target market as this will allow you to be able to gain the attention of your target market and also be able to compete favorably against your competition.
If you are starting off this business on a small scale and do not have the money with which to run your business from a commercial facility, then you might run your business from home and use your garage as your workshop.
However, if you will be running this business from home, you should know that your business will not grow beyond a certain limit and that you will not be able to compete fairly against your competitors. There are several factors that you would need to consider when looking for a facility to run your appliance repair business and they are; nearness to your target market, easy accessibility, conspicuous and strategically placed and conducive enough for your employees.
Also, the facility should be within your budget as you would not want to cause a strain on your overall budget by leasing a facility outside your budget.
When leasing or renting a facility, you should ensure that you sign a lease agreement that has a back-out clause.
For instance, if you sign a 3 year lease, you should be able to back-out in a year if the place is not favorable to your business. Engaging the services of a real estate agent is very important as this will enable you work with someone who knows the area and will help you choose a place that will be very appropriate for your appliance repair business.
It is therefore important that you engage in a bit of research to determine what area will be profitable for you to go into.
However while this business might be one that will bring you a lot of money, you should note that you are prone to injuries, gas leaks and electric shocks during the course of running the business and you should therefore be adequately prepared. Administratively, you would require computer, phones, printer and software to be able to run your business successfully.
Even though the nature of the appliance repair business is one that can allow you the entrepreneur run the business alone and from home; but in order to compete favorably against your competitors, you would need to rent a facility, which means that you would need to employ people to help man the facility too.
From the above analysis, you will need at least 8 people to be able to run your appliance repair business effectively. The Service Delivery Process of an Appliance Repair Company An appliance repair business is one that helps individuals and businesses to repair and maintain their appliances which may fall into different categories such as household, home and garden equipment.
Even though almost anyone can become skilled enough to start repairing appliances, some appliances will require you to have professional certification by the EPA as well as other organizations. When clients bring their faulty appliances to you, it is your duty to check what exactly is wrong with the appliance after listening to your clients describe what went wrong.
It is from the description that you can have an idea of what is wrong and also carry out further tests to truly determine what is wrong.
Starting an Appliance Repair Business — The Marketing Plan Marketing ideas and strategies When starting your business, it is essential that you have plans to market your business properly to your intended target market.
If you are looking to penetrate your target market, and carve out a fair share for your business whilst also having an edge over your competitors, then it is essential that you market your business. Before you can however craft the right marketing strategies that would be right for your business, it is necessary that you conduct a thorough market survey first.
This market survey is necessary because it allows you to know what niche you intend to go into, who your target market is, understand their characteristics and what it is they want from you.The Plan Chosen by , Michigan Families Every day, more and more families are signing up for the convenience and savings of our Appliance Service Plan.
Contact us at to get started. The mechanically inclined will find plenty of opportunity for income with a home-based appliance repair business. Coverage is provided by Service Plan, Inc.
Coverage is provided by National Product Care in all other U.S. states. Address for all businesses is West Jackson Blvd, Chicago, IL When an appliance breaks down, your first thought is probably: How much is this going to cost? But after you enroll in one of our Appliance Service Plans, you’ll think differently.
You’ll know you’re covered, and you’ll know just who to call, 24/7.
It’s that peace of mind that makes these plans such a great value. Let’s now expose you to the complete, step by step guide so that you are able to start and run a profitable appliances repair business: Get properly trained; Develop a business plan; Get a business license; Buy necessary tools; Find space for work; Employ best promotional methods; 1.
Get properly trained. You can’t repair something unless you know about it. A service company business plan can provide the owner-manager or prospective owner-manager of a service firm with a pathway to profit.
This guide is designed to help an .