This is a project which I have always wanted to persue, however coming from a small family in East London I have never truely been able to persue this as I was always persuaded to follow the conventional way of educations. Im not against education, but after many years of it Ive finally accepted that it something that I will most likely not enjoy. This is why for the last few years I have been saving up nearly everything I made to finally be in the last stages of planning.
This alloy refurbishment centre will be based in London, it will be small at first yes I agree however I am very confident for the size and expenses of the business I will be able to keep a healthy profit margin through the 5 years. This is because the marketing strategy I will be using is very much perfect for the market I would like to provide to. Over the last few months I have been carefully planning and organising marketing strategies which will can be put to use in immediate effect. As I will be putting all my time into this project I will be able to keep the overheads low as I will be the one carrying all refurbishment to alloy wheels. I have recieved training from a friends body shop and also taken part in training courses over the weekend. I will also be able to keep the overheads low as the space required is minimal so the lease is not expected to be such an amount that is deemed unnecessary.
The carefull financial planning means the business will only spend when it absolutly has to, making it less prone to irrelevent costs and facing invocises which can not be paid on time. I call this plan the strictly pay when requested plan, although the name sounds simple it is a very indepth plan which will be continuously revised every month. This leads to incredibly low prices which are close to 50% lower than the closest competitor. This alongside the marketing strategy should bring a mass flow of customers. Im offering a low cost high quality service available to the masses instead of a high cost same quility service which can only be affordable by a small fraction of the desired market.
The money raised will be used to secure the lease which requires 3 month rent in advance and the legal costs of the lease which are negotiable however I have been told that this will not be by much. All the assets, utility bills, fittings will be paid from my savings, and also because I am very useful with woodwork and metal work I will be able to get some furniture and fittings for free or at most just the cost of the materials.
This is a project I am putting my all in to, risking a LOT and finanlly gaining the courage to do what I love and hopefully serving the market I truely love (Im a petrolhead). I would love to answer any questions anybody may have.