Automobile Restoration Business Plan

Phaethon's Chariot Restorations

Executive Summary

Phaethon's Chariot is a start-up auto restoration shop. The company is engaged in the restoration of old American cars, and the designing and building of hot rods, and street rods. Body work and rust repair is the majority of our work. Phaethon's Chariot has recently rented a new state-of-the-art restoration shop, located at 510 W. 200th Terrace Circle Boulevard, Centerton, Ohmstate. The company is dedicated to providing the highest quality workmanship. Phaethon's Chariot keeps up on all the latest tools and techniques of the trade to perform the highest quality work possible today.

Phaethon's Chariot is located in Centerton, Ohmstate. Our company and employees are dedicated to doing each job right the first time, and retaining each car owner as a lifetime customer of our shop.

The company is a state chartered corporation in Ohmstate, owned by Isoroku Tarnmaclahan. The has owner worked for other shops in the Highland Valley area for the past 20 years, and is committed to excellence every day. This new space allows the company retain more work. The office area is comprised of 500 square feet and the shop area where the day-to-day work on the cars is performed is 5,000 sq.ft.

The population of the seven communities in close proximity to Phaethon's Chariot Restorations is estimated at 918,279. Roughly, this would mean that this area comprises a total restoration market in excess of $2.0 million annually. The company's goal is to a acquire a comfortable minority share of this nearby market.

The marketing research and tailored marketing strategy described in this business plan will result in modest after-tax profits of in year 1, quadrupling after-tax profits within three years. It is estimated that by year 3, revenues will reflect a healthy market share of the local restoration market.

Within the next twelve months it is the objective of the company to market to the local area to promote our business in the Highland Valley and surrounding areas. Our market segment will be 30- to 65-year old owners of old American cars. After year three we plan to expand our business to the Carahge City, Mythtate area. Our studies indicate that the Carahge area doesn't have a lot of competition for our business.

1.1 Objectives

1. Penetrate the automotive restoration market here in the Highland Valley. Within the next twelve months, it is the objective of the company to market to the local area to promote our business in the Highland Valley and surrounding areas, our market segment will be 30 to 65 years old men and women who own old American cars. After year two we plan to expand our business to the Carahge City, Mythtate area. Our studies indicate that the Carahge City area doesn't have a lot of competition for our business.
   
2. Substantially increase profitability. We will encourage price-sensitive jobs to go elsewhere by normalizing the pricing structure. This will allow for more high-end custom work to be performed for the less price-sensitive restoration market sector. This pricing will insure a quadrupling of net profits during the third year.
   
3. To improve the administrative processes of the company. This will allow a reduction in the owner's involvement in simple administrative tasks from 50% of his time to 20%, thereby allowing him more time for sales and marketing tasks.

1.2 Mission

Our mission at Phaethon's Chariot is to always perform the highest quality work at the best price around.

• We can achieve this by only using the best of everything to do our restoration.
• We produce high-quality work using the best parts and supplies available in the market place today.
• We only employ the most knowledgeable people to work for our shop.
• We have a metal fabricator who will build any part that we can't locate for your car.
• All of our restoration technicians go through a rigorous application process before we hire them. We employ only the best people to do our work.

At Phaethon's Chariot Restorations you will get only the best quality work done on your car.

1.3 Keys to Success

Keys to success for the company will include:

1. Maintaining an untarnished reputation in the community.
2. Quality care.
3. Competitive pricing.
4. Flexible hours.