You need to set very particular marketing objectives for yourself so that you can check how far you’ve come since you first opened up shop.
Are you ready to get your new car wash business off the ground? With all the hours of planning and tons of effort that you put into your entrepreneurial project, you have every right to expect that it will turn out to be a huge success within the first few weeks of operation.
But the truth is that your business may or may not flourish. Too many businessmen have poured time and money into their dream enterprises only to see them go bust within the first year. The best thing you can do to guard against this possibility is to craft your business plan with a critical eye. Leave no stone unturned as you do your initial SWOT analysis and marketing audit, for only solid research can help you out as you map your course in the car wash market.
Car owners have a lot of options to choose from when it comes to taking care of their cars—mobile detailing, in-house detailing, and even DIY detailing if they are willing to get a little dirty. To ensure that your business goes off with a bang, you need to come up with a good marketing plan and commit to implementing it no matter how difficult the going may be. This is the only way for you to get a lion’s share of the market, and to sustain it over time.
A marketing plan needs marketing objectives and milestones to prop it up. You can’t make a map without a destination in mind. The same thing goes for planning how to set up your car wash business. You need to set very particular marketing objectives for yourself so that you can check how far you’ve come since you first opened up shop. At the same time, having objectives will keep you motivated to go to the next step in your business.
Your car wash’s SMART goals
Goals are indicators that will help you check your path, but they will also tell you if your business is doing well. As you start to set up your car wash business or franchise, you need to have SMART goals in mind. SMART stands for:
- Specific: what is it exactly that you want to accomplish?
- Measurable: how can you determine if the goal has been reached?
- Achievable: can you really make things happen in the real world as well as on paper?
- Realistic: do you have all the proper resources and tools on hand to achieve your goals?
- Timed: what is your time frame for getting things done?
The marketing objectives that you set at the beginning of your business may be far different from what you will come up with as you operate it and learn from your everyday transactions. That’s why it’s important to always check if you’re on the right track.
Objectives you can truly reach
For example, you might focus on market share objectives for your initial business plan because you want to make sure that you can capture a fair number of customers right from the get-go. Of the 1,000 car owners in your town, you want about 200 of them to try out your services at least once within the first six months of operation. Does this sound like a practical and doable goal to you? If it does, then you should start mustering the resources to promote your business even before it opens so that you can generate customer interest as soon as possible.
A year later, you might probably be more concerned about your car wash company’s profitability. You’ve already gotten yourself some loyal customers, and you’ve already begun establishing your reputation as a car wash company that delivers great value in every service. After conducting your marketing audit, you plan to see a 20% return on capital after one more year of operation, at which point you will decide whether to expand the business or retain your current business framework. That means you need to work on achieving a higher turnover rate for your services to earn more income.
The great thing about marketing objectives is that if made correctly, they can be your best friends in the business. They will guide you and show you the way to becoming a successful entrepreneur. For tried-and-tested SMART marketing objectives, check out the DetailXPerts page to see how we can help your car wash business.
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