DIY Wash N’â€™ Fix is a revolutionary concept in autocare. Do-It Yourself market (DIY) is growing in America as evidenced by the increase of DIY housing vendors. There is still a gap in DIY auto repair. At the moment, most firms only offer tools and parts, but no place to do the actual work. We are a company that provides a professional environment to repair, wash and paint your vehicle. DIY Wash N’′ Fix is a good idea because of the current economic slowdown. This could influence consumers to change their spending habits. Our facility is likely to attract people who have the skills and desire to learn about auto repair. Additionally, sales of after-market auto parts have been increasing, which demonstrates Americans’ abilities and willingness to fix their own cars. The car wash industry is attractive, because it generates steady profits on little additional investment. A lot of the businesses in the carwash and auto repair industries are currently owned by retirees. This makes them a great place to make excellent acquisitions.
DIY Wash N’â€™ Fix is a targeted market for individuals who want to repair their cars but don’t have the right space or equipment. This market is growing because so many people live and work in urban areas that don’t allow for on-site car repair. Our target market is about 90% male in the age range of 18-55 who earn from $20,000 to $40,000 per year. These are the demographics we choose to locate our facilities in Texas, Florida and California.
DIY Wash N’ Fix is a new and exciting concept, and we have estimated it will be a profitable endeavor. Our first-mover advantage is unmatched by any other companies in the field.
1.1 Keys for Success
The following are key success factors for this industry:
- Qualitative service
- Good business practices.
- Skilled workforce.
- Information and marketing efforts to customers.
- Technologically advanced equipment.
- Awareness about environmental issues.
The above trends provide some reasons for our business to be successful. The current American slowdown in economic growth and rising costs of our competitors (technology labor, environment, etc.), are just two reasons for us to be successful. DIY will grow because of the current American economic slowdown and eventuality of rising costs for our competition (technology, labor environment, etc.). Additionally, people may distrust certain repair shops due to their bad reputation. The repair industry is an excellent investment because of its potential profit projections.
Two major threats were also highlighted. First, the increase in the technologically advanced vehicle electronics may prevent people from repairing their car on their own. The second is that many states have laws that require periodic safety and emission inspections. People will need to go to traditional garages, even if we are regular customers.
Car Wash Competitors
- Single-activity Car Washes: These are typically private-owned businesses which offer car wash service only.
- Multiple-activity car washes can be described as chains that offer many services. AAA, a California-based auto-care facility, recently announced the establishment of a full-service vehicle wash.
The multiple-activity car washes are less numerous in terms of total number available. They are nevertheless more like our business process, and they are therefore considered to be the primary threat.
It is appropriate to discuss the risks inherent in our business model. We have assumed that some people are able to fix basic maintenance on their cars, but lack the proper tools and workspace. This is our central assumption. Appropriate pricing is an important factor in our success. This allows us to attract and maintain this customer segment. A risk in our business is that an unexpected expense may arise that we have not managed to account for.