Ditching the traditional 9-5 work-life for a life of financial freedom is the dream, but what if it could be a reality and not just a dream? More people are ditching the traditional career path of finding a job out of school in favor of that lifestyle. The number one way to achieve it is through entrepreneurship.
Being a business owner makes you responsible for a lot more than just your 9-5, but it could mean a better future financially. One business idea you can start from home is opening up an auto repair business. If you think this sounds too good to be true, read on.
1. Organizing your workspace
The first step you should do is designate a workspace and organize it to ensure that you have somewhere to operate your business. The experts at E-Z Garage Storage show how valuable the proper storage setup is for a garage, and if you want to run an auto business out of your garage, it’s even more important. Having your tools, equipment, and supplies in easy to find spaces out of your way, so you can work on engines or cars, is an immediate need to focus on storage options.
2. Marketing your business
As with any business, you need to have clientele, and clientele means reaching out through advertising and marketing. The best advice is to begin with a business website, so you can snag a domain name with your business name. The legitimacy of a business can begin and end with websites now that we’re well into the digital age. This is the cheapest way to advertise because you can post and share your site on social media, another cheap alternative. These can help until you start making enough revenue to afford ad space online or in a physical medium.
3. Creating a budget and business plan
Your budget will help determine the scope of your business. Do you have enough capital to invest in hoist machinery or power tools? Can you facilitate business in your home? What about your business plan? Do you want to stick to small motors/engines like boats and lawnmowers or incorporate full-on vehicle repairs as well? These are necessary questions to determine if you need to expand your garage or if you’re ready to open right now. Waiting a bit to secure a loan or capital isn’t a bad idea (home auto repair businesses can be upwards of $50K startup costs); you don’t want any hesitations before you begin.
4. Hiring employees
This is a step you can spend time mulling over. Starting small is good to help you get your footing before expansion to a location or bigger garage. If you want to hire employees, consider how it will be for payroll and legal matters, and consider how you can expand productivity. Incorporate this into your business plan, but don’t rush this step.
Starting your own business isn’t a pipe dream that sounds foolish. What’s foolish is not realizing your dreams of being your own boss. Home auto repair businesses can cost a lot to start, but if you dedicate yourself to learning the ropes and developing your business skills, you can change your life.