Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid, at which point the economy will begin a prolonged recovery period.
SUMMARY Description of the business Mission —The mission of Budget Cars will be to buy and sell a desirable mix of quality used cars, trucks, and vans, and to create a friendly atmosphere where Budget Cars will be known for being your family used car center. The location is in Alpena, Michigan.
Products and Services —The products that Budget Cars will offer are quality used cars, trucks, and vans at below market value. The services that will be offered are in-house financing provided by area banks with approved credit and a full business plan for business expansion detail center that will recondition all units for sale.
Market and Sales Strategy Due to several different factors season changes, market changes, opening date, etc. We are going to be consistent with our advertising in the "Out and About" section that runs every other week in the Alpena Journal and at least one ad once a month in the Daily Herald.
April—"Grand Opening" will be held this month. Also, the "Out and About" section and the ads in the classifieds will be run along with an ad in the Daily Herald. August, September, and October—Still keeping with radio, sponsor a local high school sport and continue the "Out and About" section and an ad in the Daily Herald.
December—Have a coloring contest for the kids, with prizes that tie in with the holidays, advertising in the Alpena Journal and the Daily Herald. Peter will be maintaining and operating the automotive detail center. Ben will be responsible for the buying and selling of automobiles and overseeing all operations.
The number one responsibility of our management team is to create a friendly atmosphere where our customers come first. They will always be courteously acknowledged with a friendly smile and a handshake. Objectives of the Management Team Our main objective is to buy and sell quality used vehicles in the first year of operation, with an increase per year of 60 vehicles, ultimately reaching an average of cars per year.
Financial Considerations Profit Projections —Budget Cars will have a net profit in the first year of operations. Purposely the inventory will be minimal and focus on 4x4 trucks, utility units, and a family budget row of used cars that will satisfy the second car needs.
Major Suppliers —A majority of the vehicles that Budget Cars will offer will come from auctions and new car dealerships. Other vehicles will come from trade-ins and private purchase units. Sales personnel merely had to find out who could afford a new car. Words like "overallowance," "discount," "deal," and "terms.
In addition, the asking price was no longer final. There was also, if you could haggle a little, a taking price. It was possible to bargain with the dealer for the first time.
During the s, other new merchandising techniques were introduced. The buyer was becoming better educated, better able to buy—thanks to and month payments—but still confused and fearful of price.
Caution became the watchword when buying a car. The advent of the s brought more confusion to buyers with new procedures like leasing, month payments, credit unions, rebates, and consumer advocates.
Cars," and "Used Car Buyers Guide," were published and sold by the millions. During the s automobile salespeople became conditioned to the notion that customers were interested in only one thing—the very lowest price. Most retail salespeople saw the business of selling automobile as an "us against them" hard-sell game.
Those who sold popular Japanese products became arrogant and insensitive to their customers and those of us who sold American vehicles continued with the approach that price, and price alone, sells vehicles. As the s came to a close, however, the winds of change began to impact the retail automobile marketplace.
Today, in the mid s, the business of retailing automobiles is quite different than it has ever been in the past. Industry Trends —Vehicle sales seems to be a trend with our Michigan seasons.
While the sun is shining and the temperatures are warm, outdoor family activities become more popular, encouraging camping, vacations, and sight seeing. These activities increase the demand for minivans, station wagons, and sport utility vehicles.
As the kids head back to school and the weather turns cold, road conditions deteriorate.
This creates demand for a more rugged, durable unit such as light duty trucks and vans. The extra security of four-wheel drive is also more popular during this season.
Number and Kind of Businesses in the Area in the Industry —There are four new car dealerships in Alpena that offer a line of used vehicles. There are also three used car lots in town offering a very limited selection of units. Major Influences on the Industry Government Regulations —An important regulation of the government is to obtain and maintain a class "B" license.
The Federal Trade Commission also publishes rules and regulations for operating a used car lot.OGScapital is the leading consulting company in writing a business plan. If you need any help, our professional business plan writers and consultants are ready .
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