First time entrepreneurs: Starting a car valeting business could be a smart move
Are you new to the world of business? If you’re passionate, driven and determined to succeed but aren’t sure what direction to go in, car valeting could be a surprisingly good choice.
Car valeting provides a more upmarket and thorough service than just a car wash- the inside and out are thoroughly cleaned and it’s a way for people to keep their pride and joy at their best. If you’re looking to get into this line of business, here are a few reasons why it can be a smart move.
Growth industry
There are more cars than ever on the roads today meaning valeting or any business associated with cars has the potential to do very well. It does mean you will have more competition, but if you work hard you have the ability to do very well. You’re providing a service that you know people want and are willing to pay for. It’s an industry that has been shown to do well. Work out your unique selling point, and choose the right location so that you can secure your customer base. This is how you will thrive without being overshadowed by your more established competition.
Setup costs
There will always be startup costs to consider when you’re creating a business, you will need cash up front whether it’s from savings or a loan to get yourself established. Car valeting isn’t the cheapest business in the world to get started since you will need a few thousand for equipment, products and training as well as things like trade insurance. However it’s certainly not the most expensive either, and you should easily be able to get fully set up and trading with just five to ten thousand pounds.
Profit margins
One of the things to look for when setting up a business is what kind of profit margins you can expect. The thing about valeting is you have the potential to earn a lot. People are prepared to pay for the service, and while you have to deduct the cost of the products you used and the labour the price you can earn from the service gives you a strong profit margin. While valeters will require training, it’s not a skilled job and so if you choose to expand operations later on and take on staff, you can pay minimum wage and this won’t dramatically cut into your profits.
Flexibility
As a valeter you have the choice between being fixed or mobile. If you want to set up a physical store you can hire premises and have customers come to you. Otherwise you could get a van and go mobile. Being able to valet cars from customers own driveways provides a convenient service for them. You could even do a mixture of both, have a fixed unit and then a number of teams that go out mobile- something to aim for when you’re looking to expand operations.
Had you considered a car valeting business when deciding on a route to take in business?
