Car Wash Business - Essay Example

BUSINESS PLAN Executive Summary Washology will be a premium car wash business that will be located at the outskirts of Bangkok, Thailand. This is due to high traffic in the area and the huge population of about 9.3 million. The car wash will seek to provide quality services that supersede that of the competitors. The business will establish the car wash market by about 70% of the market share as well as increase its revenue by over 4%. The business will provide two types of services, which include: premium car-wash and coating. The start-up capital for the car-wash business will be approximately $25,000,000. The business will treat customers as the greatest asset for the business, which will guarantee success in the business. Quality services that will surpass expectations will launch Washology as the premiercar-wash and coating services. The business will be managed by the owner because the business is still growing. It will also hire 31 employees during the start of the business(Blackwell 2011). Business Washologywill be offering clients with two services: car washing and car coating. There are several cash wash services located in Bangkok that will provide direct competition to the company. However, in the location, there are no predominant cash wash businesses, which may satisfy as well as completely dominate in this type of business(Blackwell 2011). The competitors, which will pose direct competition to the business in Bangkok, will be G2C Glass Coating Club as well as CTS Crystal Sealed. However, this will not be a big threat to Washologybecause they will offer premium car wash services currently not offered in Bangok. Most of the car wash companies are trying to compete based on price alone. Washologys' capacity to offer a premium service, both in line with the authenticcar wash and customer service is all founded on their capability to find the best staff. Recruiting the best staff is cost effective since it lowershuman resource costs linked with turnover and other worker costs. In addition, recruiting the best staff and ensuring that are well articulated makes sure that they offer high quality services to the clients hence customer satisfaction. This will entail providing excellent working environment. Study after study confirms that a happy worker is far more probable to offer the utmost level of customer service compared to aworker who is unhappy as well as feels that they are being exploited by the company. Furthermore, there will be indirect competitors in Thailand, such as Yuma Motors, S.E.C auto sales, AMG Auto, and TSL(Blackwell 2011). Coupled with premier cash wash services that will offered by the company, the company will charge premier prices since most of the customers are professionals who pay premium prices for high quality services. The Customers Washology recognizes the fact that customers are the greatest assets for its success. Therefore, customer in the company is treated as a king. The business model for the company will be B2C, which concentrates on providing their services directly to the client. Washology willtarget four major groups of clients: car dealerships, personal car owner as well as leasers, professionals, and local businesses. This means that Washology is a premium car wash business, which offers high quality service alongside high prices compared to other cash wash companies around Bangkok. This means that the target market for the business will residents of Bangkok, who presently have super car or fascinate in car as well luxury cars. The adjacent area is quite wealthy, 40% of the inhabitants earn about $70,000 annually. Accordingly, they have classy cars and need them to look classy. There are five diverse car dealerships in a three-mile radius that will need car washing as well as coating services for the different fleets. In addition, there are lots of different local businesses, which have firm cars and that need clean appearances (Blackwell 2011). Management Because the company is still small it will managed by the owners. The strength of owner’s experience assistance is Washology’ competitive edge will contribute greatly to the success of the business.The owner will be the overall manager and will manage all the activities in the car wash. The owner’s capacity to manage the business effectively will be boosted by the knowledge, which he acquired while pursuing his MBA. Furthermore, the owner has great experience and understanding of supercar. The business in order to be success will recruit 31 employees during the initial stage and as the business grows the number will be increased. The addition of employees will be dependent on the stability of the business. The management will promote its employees based on high quality performance. The company will outsource a lawyer to consult about consumer protection law as well as corporate regulation. An accountant will be also hired to assist in financial section in terms of managing finance and financial advice (Blackwell 2011). Washologyis positioning in the market as the premier car wash serving the outskirt of Bangkok. The owner has predicted a70% market share. In addition, the company will produce a very greater gross margin as well as a self-effacing net margin the following one and comfy margin after year three. In addition, by year three Washology will have developed a reputableannually net profit. Objectives The objectives for Washologycar wash are: In the early phase, the company focuses to establish Brand awareness amongst the residents of Bangkok, which customers will perceive premium service. This will enable clients to differentiate quality services as compared to that of the rivals. To be seen as a first-class car wash as well as detail service in Bangkok. During the second phase, the business aims to increase its sales by about 5% the following year. Furthermore, the company aims to dominate the market by nearly 70% of car wash business in Cheangwattana region. In the final phase, the company will focus to get proceeds of about 40% in terms of sales revenue at the end of the business period. This will allow the business to pay back after one year. To achieve these objectives, Washology will focus at satisfying its clients through provision of quality services as well as offering quick services. The management will stress on cleanliness, punctuality as well as training its employees for healthy attitude towards clients (Blackwell 2011). Mission The mission of Washology is to offer top-quality washing as well as detail service for supercar owners in Bangkok, Thai. The company will work to keep workers satisfied to sustainimmaculate customer service. In addition, the company will offer premium car wash services in a professional that surpass customer anticipation to satisfy clients, who own luxury or supercar (Blackwell 2011). Bibliography Blackwell, E., 2011. “How to prepare a business plan”, London: Kogan Page. Read More