There are new start-ups each and every day that are born out of great ideas and plenty of hard work.
Statistics show that according to reports, 2017 actually saw the largest number of start-ups in the UK, showing just how many entrepreneurs are out there chasing their dreams. Right now, the UK is one of the hottest places to start and grow a new business.
Of course, these numbers are being helped along by the Start Up Loans program that was introduced in 2012. According to numbers published in 2017, Start Up Loans was responsible for more than £300m worth of loans. That money was spread out among over 46,000 different start-up businesses.
For many people, they have that dream of owning their own business, controlling their career destiny, and really taking ownership of what their future will bring. Even though you may have the drive, it can be hard to come up with that winning business plan, a plan that ensures success and will allow you to not only start a business but grow and shape it over time.
The business plan not only has to indicate what kind of business you hope to open but also detail such things as financing, location, services offered, staff, equipment needed, expenses, future plans, and so much more. Essentially it lays out every little detail about your business so that you have a path to follow.
Perhaps you’ve already given your plan some thought, and you’ve come up with a business idea – to start a car valet service in the Liverpool area. Having the idea is great, but now it’s time to shape and mould that idea into a more concrete plan, one that has a greater chance of success.
Here are eight tips that can help make the process of starting a car valet service smoother and faster, which means you’ll be enjoying success that much faster.
What Kind of Parking Facility Will You Offer?
The first thing to think about is what kind of parking facility you want to offer. Are you looking to offer a huge carpark where you can park many cars in the downtown area, or are you thinking something smaller and even temporary in the beginning? Temporary structures can actually act as a wonderful way to start a valet service, as it’s a much smaller commitment in terms of cost.
Take a look at the temporary buildings offered through Smart Space. They offer one option that is perfect for car valeting start-ups either as a short or long-term bay solution. What’s great is that even as you grow your business, you can still use these temporary structures as additional space if needed.
Another way these buildings can be of use is if you are waiting for a more permanent building to be made. Maybe you’ve got a permanent, large, covered parking facility being built. In the meantime, you can use these temporary buildings to still make money and offer your services. Smart-Space allows you to customise the amount of bays and the size of the building, so you can get as specific as you like.
Location is the Most Important Factor
As far as what the most important decision is when it comes to opening a car valet service, the location is top of the list. This can literally make or break your business. If you aren’t located in an area with a need for parking facilities, then there is no way your business can survive and thrive.
Finding an in-demand location is just part of the issue, you also want to look at what competition you have around you. You want to be sure you don’t have to fight too hard for customers, as this will end up taking up a lot of your time, energy, and even potential profits.
Give Consideration to Your Start-Up Costs
The start-up costs are a huge factor in any new business. It’s important you think of any and all possible expenditures so you are prepared and have the funds necessary. Often, it’s best to over-estimate what you’ll need rather than realising you don’t have enough money. It can be wise to get professional help with this aspect of the business plan because unless you’ve started a business before, there’s a good chance you aren’t aware of all the expenses involved.
Price Your Service Correctly
Where some people make a mistake in owning their own business is that they get a little too carried away when setting their prices. It’s a very fine line to walk. You want to be sure you don’t price yourself right out of the market, but at the same time, there is no reason to price yourself below market prices. This is where competitor research is needed.
Take a look at what your competitors are charging, what that fee includes, the type of service/lot/location that they offer, and then use that information to determine your own prices.
Staffing Your Valet Service
Chances are that you won’t be the only one working at your car valeting business, especially if you plan on offering 24/7 service. What this means is that you’ll need to hire staff. While you don’t need any sort of schooling or special qualifications, outside of a valid driver’s licence to park cars, it doesn’t mean you just want to pick any person that applies.
When hiring staff, you need to think about your company and its image, the brand you are trying to create and project to the public. What this means is that you want staff that are courteous, friendly, careful, responsible, reliable, and happy to help. You may also want to think about offering more than minimum wage. Even if you can only offer a bit more than minimum, it still shows staff that you are serious about them and expect a high level of work.
Keep in mind that when you hire staff, they will need to be able to drive manual and automatic vehicles.
Set Up an Online Presence
It would be great if customers just kind of stumbled upon your business and found you without any effort on your part, but chances are that some marketing and advertising will be needed. There’s absolutely no need for you to have experience in marketing in order to set up an online presence. Nowadays, it is pretty much an expectation that all businesses are active in social networks, so the faster you can set your business up, the better for you.
Create Facebook, Instagram, Twitter, and LinkedIn accounts in order to cover all avenues. These are great places for posting information, promotions, deals, and content that is of interest to your followers. One of the most important things to keep in mind when it comes to your online presence is to stay consistent. This means regular updates so that followers actually feel compelled to come back and check out your posts on a regular basis.
Look Into Cross-Marketing with a Local Company
Another great idea for your startup is to look into a cross-marketing deal with a local company. Choose a company that is relevant to valet service, in other words, a company that potential customers may go to. This could be a local repair shop, hotels, boutiques and shops, office buildings, etc. The more places you can get the word out, the better for your business.
Work on Brand Recognition
It’s also important to work on brand recognition. When people need valet services, you want them to instantly think of your company. This can be hard when you’ve got a start-up budget with little money put aside for marketing. This is where it can be helpful to attend local events, conferences, trade shows, and even sponsor a local sports team or charity event. The more you network, the more you will be building up your brand recognition.
Speak to Local Party and Event Planners
The final tip is still along the lines of networking, but it is with a very specific group of people. It’s a good idea to speak to local party and event planners, as they are constantly helping their clients to figure out all kinds of things, such as parking for guests. If you can be one of the company’s they recommend to their customers, then you’ve taken a huge step forward in terms of marketing and building your client base.
Plenty to Consider in Order to Be Successful
It really doesn’t matter what kind of business you plan to start, there is always a huge list of things you need to be aware of and to consider. It’s called doing your due diligence and it’s what can help determine just how successful your company is. Making it through that first year or two of your new business is the toughest part, so the more prepared you go into it, the better you will be able to weather the challenges as they pop up.