Learn how to write a successful business plan fro your car detailing business

Even a one-man operation will benefit from a good business plan. It will be your tool for managing and marketing your car detailing business. You will know your goals and where you want your car detail business to go.

Your business plan will be divided into four sections:

• Knowing your business

• Marketing plan

• Financial plan

• Management plan

When you write your car detailing business plan you will be examining all areas of the detailing business mark. You will be able to make educated and critical assessments using probable and achievable timelines. This will be essential to predict your business growth.

You will benefit from being able to compare personal projections with real accomplishments.

You will be able to readily allocate valuable business resources, take on unexpected business problems, make informed business choices, and avoid costly mistakes.

Once you have mastered the fine details, your business plan will assist you with reaching your projected sales goals.

If you need financing, any proposed lender will need your business plan.

How to Start Your Business Plan?

To start you will need a good budget, establish reasonable goals and develop a viable sales strategy. This will need to be revised approximately every six months.

When creating your plan be mindful that there are lots of existing detail businesses that provide good quality services, have the best equipment, and have experienced and trained employees. Many of these are struggling to stay in business. Why? Many are only focused on what is in front of them today. If they had a good business plan they would know the direction to move forward in and the best way to get there.

Business Plan Outline

Your outline contains different parts:

• Cover sheet -- This will include a title, company name, your contact information, a current date and the names of the principal or principals.

• Table of contents

• Executive summary

The first two pages will summarize your business plan.

Give a brief account of your car detail business.

If you are creating the plan to apply for a loan, include the amount that you are requesting and account for how you will use the money.

Business Profile

Fully describe your car detailing business. State what and how you do your service, your target customers and any other information that will explain your business profile.

Describe how your customers needs for car detailing will be met using your service. Cover both retail and wholesale ends. Show that your business offers good potential as well as practical appeal now and in the future.

State whether your business is a sole proprietorship, partnership, franchise, corporation, s-corporation, or LLC.

Define if your detail business is a start-up, if you are expanding an established detail business, or if you are purchasing an existing detail business. State your proposed date of business opening.

Getting the Loan

Be entirely prepared before you apply for the loan. Have all documents in good order.

Financials

• Applying for Your Loan

• Detail precisely how much money you need to accomplish the goals of your car detailing business.

• Detail exactly why you need the money, whether it is for new equipment, start-ups costs or for any other reasons.

• Stipulate the terms needed on the loan including the number of years you will need to pay it back, etc.

• Declare what kind of collateral that you can offer.

Financial Statements

When operating an existing business, provide financial statements, balance sheets and income tax returns going back two years prior and also show an interim statement that is no older than 90 days.

Capital Equipment List

Account for all costs on the present value of your existing equipment as well as the equipment that you will be purchasing.

Income Projection

Write a projection of your profits and losses over two years. Calculate what you anticipate will take place with the business, each month, for the next two years.

Show a full one-year projection of the seasons of the detail business, including all ups and downs.

Show how you detailed these figures; what is relevant to coming to them in every aspect in support of your statement.

Project your cash flow over a two-year period. Your projection should show whether or not you would have the necessary funds to run a business.

Create a comprehensive balance sheet, listing all assets and liabilities of your business.

Your business plan will include a start-up balance sheet and a projected balance sheet at one year out.

Supporting Documents

• Tax returns for principals for the past three years

• Personal financial statement (available from banks)

• Copy of proposed lease or purchase agreement for the building space

• Copy of licenses and legal documents

• Copy of resumes for all principals

• Copies of letters of intent from suppliers, etc.

• Marketing studies, articles, etc.

When you develop a realistic business plan you can expect to receive a very good outcome. So long as your credit and collateral is viable, you can expect to get your loan on very good terms!

Preparing your business plan is the most important aspect in getting started on your new business venture. It is the best way for you to build your strategy and plan your course of action.