If you are considering investing in a restoration auto shop, make sure financial success is your priority from day one. Creative Colors International Inc. can help guide you on how to start a restoration auto shop that generates profits and provides a satisfying career path.
Starting a new business can be daunting. Aside from the emotional upheaval of leaving the corporate world behind and taking charge of your future, running a small business requires juggling a lot of different responsibilities. Your new business will require you to take on many new roles, including customer service provider, office administrator, employee trainer, and marketing guru.
Current events and labor shortages are helping add to the long list of duties for business owners. While the rollout of the vaccine is doing its part to increase consumer confidence and bolster sales, small businesses are now facing a historic labor shortage. Nearly 85 percent of mostly blue-collar industries reported recruiting difficulties, according to The Conference Board, a nonprofit business research group. Massive retirements and lack of workforce participation from key demographics, including young people ages 16 to 24 years old, are making it difficult for small businesses to recruit and retain employees. To attract qualified candidates, small business owners are being forced to increase wages and offer signing bonuses. Childcare hurdles, mental health issues, and a wealth of opportunities in other industries remain a hurdle to finding new hires.
Pandemic Fuels Small Business Boom
Despite challenges, small businesses in the United States are thriving. During the first 16 months following the outbreak of the pandemic, Americans started more than 6.7 million new businesses, NPR reported. During the month of June, entrepreneurs launched at least 440,000 businesses. Layoffs and the arrival of stimulus checks sparked Americans to reevaluate their future in corporate America and discover a different future.
Keys to Starting a Profitable Auto Restoration Business
Entrepreneurship provides a path to achieving the American dream but starting an auto restoration business requires careful planning and support to generate profits. If you are contemplating business ownership, here are some secrets to ensure your auto restoration business is a financial success.
- Minimize Risk. One way new owners can minimize risk when they start a new venture is to consider franchising. Franchising allows budding business owners the chance to own a business with a proven business model along with the support and training they need to succeed. CCI is the mobile leader in the repair, reconditioning, protection, and color restoration of leather, vinyl, fabric, plastic, and carpeting in the auto industry. With 75 locations and more than 125 mobile services vans operating across the United States, CCI earned a spot in Entrepreneur magazine’s Top 200 franchise ranking. The leather franchise is a low-investment, low-overhead business ownership opportunity that is scalable. All of our franchisees have an exclusive territory they develop by adding mobile units.
- Focus on Customers. The old adage, “the customer is always right,” is just as true today as it was when the owners of Marshall Field’s department store in Chicago used it in the early 1900s. Business owners who make the customer a top priority will generate profits through repeat business and solid relationships. CCI prides itself on its customer service philosophy. Our goal is always to exceed customer expectations and do the job right the first time. If our technicians can’t make a repair, we find someone who can get the job done.
- Implement Technology and Training to Succeed. Wearing multiple hats can be overwhelming without the right technology and training to streamline your business. CCI’s total training program lasts four weeks, including two weeks of classroom and hands-on training covering technical, operations, sales, and managerial skills, plus one additional week of training to cover the administrative end of running the franchise.
- Choose a Low-Investment Opportunity. If you are a first-time business owner, opting for a low-investment, scalable opportunity will provide you with room to grow in the future as you get acclimated to business ownership. CCI offers a mobile franchise that can be operated from a home office.
- Settle on a Business With Multiple Revenue Streams. Having multiple revenue streams helps franchise owners ensure profitability. CCI offers a booming B2B business as well as a business-to-consumer opportunity. We offer restoration services for vehicles as well as boats, RVs, restaurants, medical offices, and more. Our consumer business caters to home furniture repair needs.
- Create a Stellar Marketing Strategy. Every new business needs a comprehensive, multi-platform marketing strategy to build a solid customer base. CCI’s marketing campaign includes customer list building, direct mailing campaigns, online advertising, and website search engine visibility and optimization. The company also has customer on-demand variable print flyers, postcards, trifold brochures, among other efforts.
- Offer Employee Perks. Labor shortages are leading entrepreneurs to get creative when it comes to hiring. Traditionally, franchises pay 2.2 percent to 3.4 percent higher wages than independent businesses; and more than 65 percent of franchise workers are offered health insurance, according to a survey of 4,000 franchise owners conducted by Oxford Economics. CCI’s skilled technicians have unlimited earnings potential and the ability to create their own schedule, making it an attractive option for talented employees.
Learn More About the CCI Franchise Advantage
If you want to open a profitable auto restoration franchise with the training and support you need to succeed financially, fill out the online form to request franchise information and learn more about partnering with CCI.