Planning your start-up business is no fun. Еspecially if you’re going into an industry as complex and challenging as the car wash market. Car owners are a fickle lot—one day your phone will be ringing off the hook with detailing appointments, on other days your car wash facility will be empty of clients. There are seasons when car owners love to give their cars professional servicing (such as before and immediately after wintertime). Moreover there are times when car owners prefer to engage in a little DIY car detailing project. Still, step one before starting your own business is writing a swot analysis.
Not every car wash company owner has a business or economics degree to his name. But you can still effectively craft a business plan that will knock your competitors’ socks off. You just have to be very thorough, careful, and critical as you conduct your first ever SWOT analysis.
The ABCs of SWOT Analysis
Every business plan starts out as a basic SWOT analysis because it is the simplest approach you can take to study your chosen industry. What could be easier than knowing the strengths, weaknesses, opportunities, and threats of/to your planned car wash business? If you think of writing a SWOT analysis as just a comprehensive research assignment, you can work up the courage to go forward with more complicated market analyses later on. This is your first step to crafting your business plan and marketing process, and, eventually, becoming your own car wash boss.
With a good SWOT analysis backing up your business, you can identify key issues in the car wash industry, potential gaps in the current services offered by your competitors, and innovative ways to capture and retain a sizeable market share. At the end of your research, you want to come up with ways to add better value for your customer’s money and to set yourself apart from the rest of the other car wash guys out there.
Breaking Down the SWOTs of Your Business
The SWOT analysis is made up of two components: internal and external. You need to look into your business as well as out of it if you want to come up with a marketing plan that will stand up to real-life circumstances. The four factors are mostly self-explanatory:
- Strengths: what makes your car wash business than your competition? Your car wash company might put greater emphasis on customer relations than others do, so that’s a big plus for you.
- Weaknesses: what puts you at a disadvantage against them? Are you short-staffed compared to your competitors? This could impact your ability to perform services with high turnover rates.
- Opportunities: what can you use to advance your car wash business? Perhaps your car wash facility is located in the business district where you can offer special fleet detailing services for companies in the area. This is certainly a great opportunity that you need to consider and exploit.
- Threats: what factors can cause trouble to your business project? If you are seeing a low return of investment on your business, you might not be able to make the next month’s business loan amortization. Should this happen, you have to think of new ways to make up for the shortfall.
Writing a SWOT analysis is just like doing your homework. Once you have the data ready, you can move on to the harder steps in building your business, namely writing your business plan and deciding whether to go with an existing car wash franchise or starting your own from scratch. More importantly, you can set goals and milestones for your business and figure out how to achieve them.
A Realistic and Real-world Approach
The best way to craft the SWOT analysis for your car wash business is to keep your feet on the ground. A common mistake among start-up entrepreneurs is to be very abstract in their business research and implementation, forgetting that so many things can go wrong once the ball starts rolling. The true test of a good SWOT analysis is if it can still work despite the problems that you encounter while setting up and growing your car wash business.
For some people, buying into a strong car wash franchise is the best way to reduce the preliminary steps of becoming an entrepreneur. See the DetailXPerts website for more information on how we can help you not just with writing your SWOT analysis, but also in realizing your entrepreneurial dreams.
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