Business Plan for Auto Parts Store: Services, Strategy, and Finances
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This report is a comprehensive business plan for an auto parts store, focusing on the Belgian market. It details the company background, mission to provide superior auto repair services, and key success factors such as developing relationships with local service providers and offering a broad range of auto parts. The plan outlines services, including auto and online services, and conducts a market analysis, including segmentation and competition analysis. The strategy and implementation sections cover sales and marketing strategies, including direct sales, online assistance, and promotional offers. A management summary details the personnel plan. The financial plan includes initial investment, break-even analysis, and a marketing budget. The business aims to leverage technology, skilled employees, and online services to gain a competitive advantage in the market.
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Running head: BUSINESS PLAN OF AUTO PARTS STORE
Business plan of Auto Parts Store
Name of the University:
Name of the Student:
Authors Note:
Business plan of Auto Parts Store
Name of the University:
Name of the Student:
Authors Note:
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1BUSINESS PLAN OF AUTO PARTS STORE
Table of Contents
1. Introduction......................................................................................................................3
1.1. Company Background..............................................................................................3
1.2. Mission.....................................................................................................................3
1.3. Key Success Factors.................................................................................................4
2. Services Offered..............................................................................................................4
2.1. Auto Services............................................................................................................4
2.2. Online Services.........................................................................................................4
3. Market Analysis Summary..............................................................................................5
3.1. Market Segmentation and Strategy...........................................................................5
3.2. Competition and Buying Patterns.............................................................................6
4. Strategy and Implementation...........................................................................................6
4.1. Sales Strategy............................................................................................................6
4.2. Marketing and Business Promotion Strategy...........................................................7
5. Management Summary....................................................................................................8
5.1. Personal plan.............................................................................................................8
6. Financial Plan..................................................................................................................8
6.1. Initial Investment......................................................................................................8
6.2. Break Even Analysis.................................................................................................9
6.3. Marketing Budget Plan.............................................................................................9
Table of Contents
1. Introduction......................................................................................................................3
1.1. Company Background..............................................................................................3
1.2. Mission.....................................................................................................................3
1.3. Key Success Factors.................................................................................................4
2. Services Offered..............................................................................................................4
2.1. Auto Services............................................................................................................4
2.2. Online Services.........................................................................................................4
3. Market Analysis Summary..............................................................................................5
3.1. Market Segmentation and Strategy...........................................................................5
3.2. Competition and Buying Patterns.............................................................................6
4. Strategy and Implementation...........................................................................................6
4.1. Sales Strategy............................................................................................................6
4.2. Marketing and Business Promotion Strategy...........................................................7
5. Management Summary....................................................................................................8
5.1. Personal plan.............................................................................................................8
6. Financial Plan..................................................................................................................8
6.1. Initial Investment......................................................................................................8
6.2. Break Even Analysis.................................................................................................9
6.3. Marketing Budget Plan.............................................................................................9
2BUSINESS PLAN OF AUTO PARTS STORE
References..........................................................................................................................10
References..........................................................................................................................10
3BUSINESS PLAN OF AUTO PARTS STORE
1. Introduction
1.1. Company Background
“Auto Parts Store” will be a company that offers auto repair services within the auto
market of Belgium. This new business idea has been generated considering the market survey
that indicated more than 20% of the factories in the nation along with consumers dealt with
issues regarding lack of sufficient auto repair services.1 The new business will employ competent
technology in developing exceptional services that will exceed consumer expectations. In order
to provide exceptional services to its consumers and for maintaining stable consumer
relationships, “Auto Parts Store” will provide supplies to the auto factories. This will include
body shops for offering superior auto repair services to all the consumers.
1.2. Mission
Mission of “Auto Parts Store” business is to provide superior quality auto repair services
with all the types of auto parts. The new business will provide its convenient as well as rapid
service. Offering exceptional auto repair services to the target unsatisfied consumers in the
market is the major mission of the new business.2
1 Almeida, C.M.V.B. et al, Accounting For The Benefits Of Technology Change: Replacing A
Zinc-Coating Process By A Water-Based Organo-Metallic Coating Process (2018)
2 Chang, Wen-Long, Online Training For Business Plan Writing Through The World Café
Method: The Roles Of Leadership And Trust (2018)
1. Introduction
1.1. Company Background
“Auto Parts Store” will be a company that offers auto repair services within the auto
market of Belgium. This new business idea has been generated considering the market survey
that indicated more than 20% of the factories in the nation along with consumers dealt with
issues regarding lack of sufficient auto repair services.1 The new business will employ competent
technology in developing exceptional services that will exceed consumer expectations. In order
to provide exceptional services to its consumers and for maintaining stable consumer
relationships, “Auto Parts Store” will provide supplies to the auto factories. This will include
body shops for offering superior auto repair services to all the consumers.
1.2. Mission
Mission of “Auto Parts Store” business is to provide superior quality auto repair services
with all the types of auto parts. The new business will provide its convenient as well as rapid
service. Offering exceptional auto repair services to the target unsatisfied consumers in the
market is the major mission of the new business.2
1 Almeida, C.M.V.B. et al, Accounting For The Benefits Of Technology Change: Replacing A
Zinc-Coating Process By A Water-Based Organo-Metallic Coating Process (2018)
2 Chang, Wen-Long, Online Training For Business Plan Writing Through The World Café
Method: The Roles Of Leadership And Trust (2018)
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
4BUSINESS PLAN OF AUTO PARTS STORE
1.3. Key Success Factors
The new business of “Auto Parts Store” will be focused on attaining certain major key
success factors for attaining high revenues and competitive position in the market.3 These key
success factors are mentioned under:
Developing relationships with local towing service organizations, workshops and body
shops
Broad range of major auto parts
Exceptional consumer service along with systematic operation
Highly advanced technology along with attaining skilled technical employees
The idea of fixing cars of consumers in their own garages is one of the operational
success factor
2. Services Offered
2.1. Auto Services
New business of “Auto Parts Store” will focus on offering exceptional consumer services
with maintaining systematic operation.4
2.2. Online Services
New business of the “Auto Parts Store” will develop a free website in which the
employees will be able to address all the questions of the consumers along with offering online
auto parts repairing help to them in emergency situations. In case the consumers think that they
3 Cunningham, James A. and Paul O’Reilly, Macro, Meso And Micro Perspectives Of
Technology Transfer (2018)
4 Entrepreneurship And Innovation - Research Outputs - Edinburgh Research Explorer (2018) Bing.com
1.3. Key Success Factors
The new business of “Auto Parts Store” will be focused on attaining certain major key
success factors for attaining high revenues and competitive position in the market.3 These key
success factors are mentioned under:
Developing relationships with local towing service organizations, workshops and body
shops
Broad range of major auto parts
Exceptional consumer service along with systematic operation
Highly advanced technology along with attaining skilled technical employees
The idea of fixing cars of consumers in their own garages is one of the operational
success factor
2. Services Offered
2.1. Auto Services
New business of “Auto Parts Store” will focus on offering exceptional consumer services
with maintaining systematic operation.4
2.2. Online Services
New business of the “Auto Parts Store” will develop a free website in which the
employees will be able to address all the questions of the consumers along with offering online
auto parts repairing help to them in emergency situations. In case the consumers think that they
3 Cunningham, James A. and Paul O’Reilly, Macro, Meso And Micro Perspectives Of
Technology Transfer (2018)
4 Entrepreneurship And Innovation - Research Outputs - Edinburgh Research Explorer (2018) Bing.com
5BUSINESS PLAN OF AUTO PARTS STORE
are able to fix the issues that are present in their cars within their own garage with the help of its
employees or family, the company will offer online purchasing services. In such service, the
consumers will be able to purchase auto parts for their vehicles from the company website.
“Auto Parts Store” will also facilitate its consumers to make online appointment that can
facilitate them to check out the record of their automobiles through the website.5
3. Market Analysis Summary
3.1. Market Segmentation and Strategy
“Auto Parts Store” focuses on offering services as per demand of local consumers along
with maintaining effective relationships with the major local towing organizations and body
shops.
The Body Shops- Young consumers are likely to visit body shops for racing their cars
and they are concerned about the look of their vehicles. “Auto Parts Store” will maintain
strong relationships with body shops that can facilitate it in reaching its target consumers.
The company will offer fast delivery services along with shipping designed auto parts
through online booking service.6
Towing Companies- After traffic accidents, the towing organizations are called to take
way damaged cars of the consumers and d not offer repair service to them. “Auto Parts
Store” will make increased revenue through building relationships with the major towing
organizations.
5 Forbes Welcome (2018) Forbes.com https://www.forbes.com/sites/matthewherper/2015/01/06/surprise-with-60-
million-genentech-deal-23andme-has-a-business-plan/
6 Ian Chambers Ebooks | Epub And Pdf Downloads | Ebookmall (2018) Ebookmall.com
https://www.ebookmall.com/author/ian-chambers
are able to fix the issues that are present in their cars within their own garage with the help of its
employees or family, the company will offer online purchasing services. In such service, the
consumers will be able to purchase auto parts for their vehicles from the company website.
“Auto Parts Store” will also facilitate its consumers to make online appointment that can
facilitate them to check out the record of their automobiles through the website.5
3. Market Analysis Summary
3.1. Market Segmentation and Strategy
“Auto Parts Store” focuses on offering services as per demand of local consumers along
with maintaining effective relationships with the major local towing organizations and body
shops.
The Body Shops- Young consumers are likely to visit body shops for racing their cars
and they are concerned about the look of their vehicles. “Auto Parts Store” will maintain
strong relationships with body shops that can facilitate it in reaching its target consumers.
The company will offer fast delivery services along with shipping designed auto parts
through online booking service.6
Towing Companies- After traffic accidents, the towing organizations are called to take
way damaged cars of the consumers and d not offer repair service to them. “Auto Parts
Store” will make increased revenue through building relationships with the major towing
organizations.
5 Forbes Welcome (2018) Forbes.com https://www.forbes.com/sites/matthewherper/2015/01/06/surprise-with-60-
million-genentech-deal-23andme-has-a-business-plan/
6 Ian Chambers Ebooks | Epub And Pdf Downloads | Ebookmall (2018) Ebookmall.com
https://www.ebookmall.com/author/ian-chambers
6BUSINESS PLAN OF AUTO PARTS STORE
3.2. Competition and Buying Patterns
The existing Belgium auto repair services market already has around ten major auto parts
repair along with auto parts organizations within the domestic area so the new business will have
10 major competitors. However, the new business of “Auto Parts Store” is deemed to attain
competitive advantages over its competitors as they do not have the core competencies or key
success actors attained by this company.7 Its competitors do not offer exceptional consumer
service along with systematic business operation. The company will also attain competitive
advantage over others in the industry as none of its competitors offer online service and
computerized system as per the demands of the consumers. Consumer buying patterns indicates
that they prefer companies that attaining superior technical capabilities.
4. Strategy and Implementation
4.1. Sales Strategy
Sales strategy of “Auto Parts Store” new business will focus on selling its auto service
products to the middle and upper class consumer segments. In order to reach the target consumer
market along with promoting the consumers, the new business will employ 6 direct sales
employees. In addition to that, “Auto Parts Store” will further strengthen its business
relationships with towing companies and body shops those are other target consumer segments.8
7 Improving Small Business Outlook For Access To SBA Loans - Olsen Thielen Certified Public
Accountants & Consultants (2018) Olsen Thielen Certified Public Accountants & Consultants
http://www.otcpas.com/advisor-blog/improving-small-business-outlook-for-access-to-sba-loans/
3.2. Competition and Buying Patterns
The existing Belgium auto repair services market already has around ten major auto parts
repair along with auto parts organizations within the domestic area so the new business will have
10 major competitors. However, the new business of “Auto Parts Store” is deemed to attain
competitive advantages over its competitors as they do not have the core competencies or key
success actors attained by this company.7 Its competitors do not offer exceptional consumer
service along with systematic business operation. The company will also attain competitive
advantage over others in the industry as none of its competitors offer online service and
computerized system as per the demands of the consumers. Consumer buying patterns indicates
that they prefer companies that attaining superior technical capabilities.
4. Strategy and Implementation
4.1. Sales Strategy
Sales strategy of “Auto Parts Store” new business will focus on selling its auto service
products to the middle and upper class consumer segments. In order to reach the target consumer
market along with promoting the consumers, the new business will employ 6 direct sales
employees. In addition to that, “Auto Parts Store” will further strengthen its business
relationships with towing companies and body shops those are other target consumer segments.8
7 Improving Small Business Outlook For Access To SBA Loans - Olsen Thielen Certified Public
Accountants & Consultants (2018) Olsen Thielen Certified Public Accountants & Consultants
http://www.otcpas.com/advisor-blog/improving-small-business-outlook-for-access-to-sba-loans/
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7BUSINESS PLAN OF AUTO PARTS STORE
4.2. Marketing and Business Promotion Strategy
Marketing of “Auto Parts Store” auto parts services will be conducted through direct sale
employees, online repairing assistance, door to door services along with offering discount
coupons as business promotion. On the website of “Auto Parts Store”, the employees will focus
on addressing all the auto parts related consumer questions on in order to help them in attaining
online repairing services. For effective business promotion strategy, the new business will offer
online pop-up ads of its auto repairing services. In such advertisements, the “asking question”
section, the company will provide quick link to its booking page. The consumers will be made
aware through social media advertising that they can order auto parts online and use them within
their garage. Moreover, the company will also send after sales service through sending their
employees to help its target consumers. Brand positioning statement and promotional message of
this new business will be “Fix your car in your own garage”. Moreover, it will also offer
consumers with 10% off on first time auto repairing service from the company.
5. Management Summary
5.1. Personal plan
New business of “Auto Parts Store” will intend to ensure superior consumer service
through combining 3 to 5 local auto supply business partners those will have high sales
experiences. These business partners will also be skilled in marketing, operation and
management along with having relevant experience within the industry over five years. For
8 Plan, How and How Plan, How To Write A Business Plan (2018) Nolo.com
https://store.nolo.com/products/how-to-write-a-business-plan-sbs.html
4.2. Marketing and Business Promotion Strategy
Marketing of “Auto Parts Store” auto parts services will be conducted through direct sale
employees, online repairing assistance, door to door services along with offering discount
coupons as business promotion. On the website of “Auto Parts Store”, the employees will focus
on addressing all the auto parts related consumer questions on in order to help them in attaining
online repairing services. For effective business promotion strategy, the new business will offer
online pop-up ads of its auto repairing services. In such advertisements, the “asking question”
section, the company will provide quick link to its booking page. The consumers will be made
aware through social media advertising that they can order auto parts online and use them within
their garage. Moreover, the company will also send after sales service through sending their
employees to help its target consumers. Brand positioning statement and promotional message of
this new business will be “Fix your car in your own garage”. Moreover, it will also offer
consumers with 10% off on first time auto repairing service from the company.
5. Management Summary
5.1. Personal plan
New business of “Auto Parts Store” will intend to ensure superior consumer service
through combining 3 to 5 local auto supply business partners those will have high sales
experiences. These business partners will also be skilled in marketing, operation and
management along with having relevant experience within the industry over five years. For
8 Plan, How and How Plan, How To Write A Business Plan (2018) Nolo.com
https://store.nolo.com/products/how-to-write-a-business-plan-sbs.html
8BUSINESS PLAN OF AUTO PARTS STORE
maintaining the stability of the new business, “Auto Parts Store” will ensure that all its business
partners maintain the core of the technology employed by the company. Due to the low average
salaries in Belgium, the new business will be able to hire more skilled employees within its
technology department.9
6. Financial Plan
6.1. Initial Investment
For starting the new business of “Auto Parts Store” own starting capital will be used that
is 30% of the own starting capital. The rest 70% of the capital amount will be gathered from the
bank loans. Another alternative that can be used by the business is partners’ investment in which
its four local business partners will invest equal amounts in the business.10
6.2. Break Even Analysis
Monthly revenue break even that is anticipated to be attained by the new business of
“Auto Parts Store” is $25000 in the second year of its business.
6.3. Marketing Budget Plan
Marketing Budget Plan
Category Estimated
Quantity
Estimated
Cost per Unit
Estimated
Subtotal
Research
Research firm fees 2 $2,300.00 $4,600.00
Web research 1 $1,100.00 $1,100.00
9 Plan, How and How Plan, How To Write A Business Plan (2018) Nolo.com https://store.nolo.com/products/how-
to-write-a-business-plan-sbs.html
10 Schaper, Michael T et al, Entrepreneurship And Small Business (2018) Researchdirect.westernsydney.edu.au
http://researchdirect.westernsydney.edu.au/islandora/object/uws:22722
maintaining the stability of the new business, “Auto Parts Store” will ensure that all its business
partners maintain the core of the technology employed by the company. Due to the low average
salaries in Belgium, the new business will be able to hire more skilled employees within its
technology department.9
6. Financial Plan
6.1. Initial Investment
For starting the new business of “Auto Parts Store” own starting capital will be used that
is 30% of the own starting capital. The rest 70% of the capital amount will be gathered from the
bank loans. Another alternative that can be used by the business is partners’ investment in which
its four local business partners will invest equal amounts in the business.10
6.2. Break Even Analysis
Monthly revenue break even that is anticipated to be attained by the new business of
“Auto Parts Store” is $25000 in the second year of its business.
6.3. Marketing Budget Plan
Marketing Budget Plan
Category Estimated
Quantity
Estimated
Cost per Unit
Estimated
Subtotal
Research
Research firm fees 2 $2,300.00 $4,600.00
Web research 1 $1,100.00 $1,100.00
9 Plan, How and How Plan, How To Write A Business Plan (2018) Nolo.com https://store.nolo.com/products/how-
to-write-a-business-plan-sbs.html
10 Schaper, Michael T et al, Entrepreneurship And Small Business (2018) Researchdirect.westernsydney.edu.au
http://researchdirect.westernsydney.edu.au/islandora/object/uws:22722
9BUSINESS PLAN OF AUTO PARTS STORE
Independent research 3 $300.00 $900.00
Other research 2 $250.00 $500.00
Research Costs Total $7,100.00
Communications
Promotional brochures 5,000 $0.15 $750.00
Television 5 $4,000.00 $20,000.00
Radio 13 $350.00 $4,550.00
Web 1 $350.00 $350.00
Communications Costs Total $25,650.00
Independent research 3 $300.00 $900.00
Other research 2 $250.00 $500.00
Research Costs Total $7,100.00
Communications
Promotional brochures 5,000 $0.15 $750.00
Television 5 $4,000.00 $20,000.00
Radio 13 $350.00 $4,550.00
Web 1 $350.00 $350.00
Communications Costs Total $25,650.00
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10BUSINESS PLAN OF AUTO PARTS STORE
References
Almeida, C.M.V.B. et al, Accounting For The Benefits Of Technology Change: Replacing A
Zinc-Coating Process By A Water-Based Organo-Metallic Coating Process (2018)
Chang, Wen-Long, Online Training For Business Plan Writing Through The World Café
Method: The Roles Of Leadership And Trust (2018)
Cunningham, James A. and Paul O’Reilly, Macro, Meso And Micro Perspectives Of Technology
Transfer (2018)
Entrepreneurship And Innovation - Research Outputs - Edinburgh Research Explorer (2018)
Bing.com http://www.bing.com/cr?
IG=6863C2167DE94DFA9E8A0BDEDDA17AF7&CID=2D773FD0C31D631423BC340DC2B
26268&rd=1&h=FWThJ5poZ35D4_79gxoB3qmj4Rx392BhhV4LhWJzHUQ&v=1&r=http%3a
%2f%2fwww.research.ed.ac.uk%2fportal%2fen%2forganisations%2fentrepreneurship-and-
innovation(ef80dd2f-c4ad-4be7-bd64-303c468966f9)%2fpublications.html%3fpage
%3d0%26pageSize%3dall&p=DevEx.LB.1,5086.1
Forbes Welcome (2018) Forbes.com
https://www.forbes.com/sites/matthewherper/2015/01/06/surprise-with-60-million-genentech-
deal-23andme-has-a-business-plan/
Ian Chambers Ebooks | Epub And Pdf Downloads | Ebookmall (2018) Ebookmall.com
https://www.ebookmall.com/author/ian-chambers
References
Almeida, C.M.V.B. et al, Accounting For The Benefits Of Technology Change: Replacing A
Zinc-Coating Process By A Water-Based Organo-Metallic Coating Process (2018)
Chang, Wen-Long, Online Training For Business Plan Writing Through The World Café
Method: The Roles Of Leadership And Trust (2018)
Cunningham, James A. and Paul O’Reilly, Macro, Meso And Micro Perspectives Of Technology
Transfer (2018)
Entrepreneurship And Innovation - Research Outputs - Edinburgh Research Explorer (2018)
Bing.com http://www.bing.com/cr?
IG=6863C2167DE94DFA9E8A0BDEDDA17AF7&CID=2D773FD0C31D631423BC340DC2B
26268&rd=1&h=FWThJ5poZ35D4_79gxoB3qmj4Rx392BhhV4LhWJzHUQ&v=1&r=http%3a
%2f%2fwww.research.ed.ac.uk%2fportal%2fen%2forganisations%2fentrepreneurship-and-
innovation(ef80dd2f-c4ad-4be7-bd64-303c468966f9)%2fpublications.html%3fpage
%3d0%26pageSize%3dall&p=DevEx.LB.1,5086.1
Forbes Welcome (2018) Forbes.com
https://www.forbes.com/sites/matthewherper/2015/01/06/surprise-with-60-million-genentech-
deal-23andme-has-a-business-plan/
Ian Chambers Ebooks | Epub And Pdf Downloads | Ebookmall (2018) Ebookmall.com
https://www.ebookmall.com/author/ian-chambers
11BUSINESS PLAN OF AUTO PARTS STORE
Mckenzie, David J. and Dario Sansone, Man Vs. Machine In Predicting Successful
Entrepreneurs : Evidence From A Business Plan Competition In Nigeria (2018)
Documents.worldbank.org
http://documents.worldbank.org/curated/en/968231513116778571/Man-vs-machine-in-
predicting-successful-entrepreneurs-evidence-from-a-business-plan-competition-in-Nigeria
Improving Small Business Outlook For Access To SBA Loans - Olsen Thielen Certified Public
Accountants & Consultants (2018) Olsen Thielen Certified Public Accountants & Consultants
http://www.otcpas.com/advisor-blog/improving-small-business-outlook-for-access-to-sba-loans/
Plan, How and How Plan, How To Write A Business Plan (2018) Nolo.com
https://store.nolo.com/products/how-to-write-a-business-plan-sbs.html
Schaper, Michael T et al, Entrepreneurship And Small Business (2018)
Researchdirect.westernsydney.edu.au
http://researchdirect.westernsydney.edu.au/islandora/object/uws:22722
Mckenzie, David J. and Dario Sansone, Man Vs. Machine In Predicting Successful
Entrepreneurs : Evidence From A Business Plan Competition In Nigeria (2018)
Documents.worldbank.org
http://documents.worldbank.org/curated/en/968231513116778571/Man-vs-machine-in-
predicting-successful-entrepreneurs-evidence-from-a-business-plan-competition-in-Nigeria
Improving Small Business Outlook For Access To SBA Loans - Olsen Thielen Certified Public
Accountants & Consultants (2018) Olsen Thielen Certified Public Accountants & Consultants
http://www.otcpas.com/advisor-blog/improving-small-business-outlook-for-access-to-sba-loans/
Plan, How and How Plan, How To Write A Business Plan (2018) Nolo.com
https://store.nolo.com/products/how-to-write-a-business-plan-sbs.html
Schaper, Michael T et al, Entrepreneurship And Small Business (2018)
Researchdirect.westernsydney.edu.au
http://researchdirect.westernsydney.edu.au/islandora/object/uws:22722
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