Quick question on business

[soloswilliams]

I'm doing a business plan for my business to get a loan I got majority of my equipment but was seeking a loan for 2500 the question is how in the hell do u break the financial plan down ? I'm at a total lost on how to do this. I broke it down on how I would get money based on a yearly based with just 5 customers a month


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[FinishingTouchA]

Do you have any proof of income or a house to secure the loan with? Do you have a good credit score? For a loan that small you are much better asking family, getting a personal loan, or putting it on a credit card. Not trying to bring you down, just being realistic. You can make $2500 with a $500 startup then buy tools with that. I started with an HF polisher and 2 Walmart wash buckets. 3 years later I've got a shop, 6 flex/Rupes polishers, a mytee extractor, and 10k+ in product.

[larry33]

I love to hear stories like that

[Muddyoldgoat]

I agree with above...
Build up slow and roll the money earned back into the business. I started part time 1-2 cars a week and increased my equipment, products and services over time.
I'm now full time with a 7x14 enclosed trailer filled with everything I need. I'm currently saving up to get the trailer wrapped.

I took advice from the forum on what works and only bought equipment that came highly recommended. Better to get what works and last rather than have to replace or upgrade later.

[FinishingTouchA]

Yeah, when you start doing the math it doesn't make sense to take out a loan for supplies. If you're already detailing your own car you should have all the chemicals to do someone else's. It only takes 3 AIO jobs to pay for a Rupes or Flex 3401. And if you're planning on getting a Mytee then figure 15 interior details with a Bissell. This is exactly how I got where I am. There's no need to overcomplicate it. Definitely a good idea to start with a business plan though. Marketing will be your biggest challenge and second or third largest expense behind products and labor if you go that route.

[Eldorado2k]

Do you have any proof of income or a house to secure the loan with? Do you have a good credit score? For a loan that small you are much better asking family, getting a personal loan, or putting it on a credit card. Not trying to bring you down, just being realistic. You can make $2500 with a $500 startup then buy tools with that. I started with an HF polisher and 2 Walmart wash buckets. 3 years later I've got a shop, 6 flex/Rupes polishers, a mytee extractor, and 10k+ in product.


This dude's not messing around.^
You should see his unpacking photo. It almost looks like a couple thousand worth in 1 shipment alone.. I'm freaking jealous! Lol:)

[dcjredline]

No loan is ALWAYS the smarter way. You havent made one red cent yet and take out a loan... guess what? IF you get no customers or very few customers you still owe the money you borrowed. Debt free all the way. Listen to Ryan on that one.

[soloswilliams]

It's a small business program for small business in the city of Detroit, technically I have 3 buckets 2 generators a power washer , chemicals, rags, spray bottles, vacuum, ... I don't have a polisher/buffer or a trailer or a water tanks and that's what I'm going for with the $2500 . But since it's winter and I know the snow coming I'm going for waterless or rinse less washing for the exterior. I have atleast 2 customers per month that is a repeat customer. Working on getting more clientele though and I paid for that out my pocket . I get what your saying thou


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[FinishingTouchA]

No need for a water tank. Stick with rinseless in a highly populated area like that. If you have Customer's that will let you use their water go that route. But be aware of the epa laws about wastewater runoff. I was mobile for 2 years and never needed a water tank or generator. Half that time I loaded everything in a Honda CRX, the other half was a Lincoln Continental or whatever other vehicle I owned. Don't spend money on things that won't make you more money. Get a polisher and get to work. If all you've got it $500 in the bank get a GG6, 20 pads, a gallon of HD speed, 32oz of FG400, and 32oz of SF4000.

[Real Riders]

Why get a loan to start out?. Just buy 2 buckets with Grit Guards, 25 Microfiber Towels from Costco, and a gallon of D114 and you are in a Waterless/Rinseless Wash business. Just make sure you pick you up some tire dressing

[FinishingTouchA]

Also, you stated your problem right in your comment. You have 2 repeat customers a month and you need more business. How is a trailer and water tank going to solve that problem? When your power bill comes in do you buy another tv so you can use more electricity, or do you send a check to the electric company? Learn how to be competitive in Google Adwords and Facebook advertising. You need more business; not a trailer that's going to cost you more on insurance, and fuel.

[soloswilliams]

So basically in the winter I can hit the coin operated wash grab hot water or grab hot water from home to do rinseles and in the summer I can use customer water to do rinseles, I even thou I figured having my own water supply cause many ppl like the old fashion car wash .... But I'm trying rinseles and waterless out this weekend ... I have grit guards also and I work out of my Tahoe truck ... I've been advertising on Facebook it's sorta hard cause I have a full time job but I'm up for the challenge


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[soloswilliams]

Oh yeah the only reason I have a generator its the quiet one like the Honda eu2000 is because I have a powered vacuum and a small brissell carpet extractor and going to buy a polisher also soon...


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[Eldorado2k]

So basically in the winter I can hit the coin operated wash grab hot water or grab hot water from home to do rinseles and in the summer I can use customer water to do rinseles, I even thou I figured having my own water supply cause many ppl like the old fashion car wash .... But I'm trying rinseles and waterless out this weekend ... I have grit guards also and I work out of my Tahoe truck ... I've been advertising on Facebook it's sorta hard cause I have a full time job but I'm up for the challenge


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You don't need to hit the coin op just for water.. Simply use water from home. Or if you want a better option, just have a few gallons of distilled water on hand and you're good to go.

39254

[soloswilliams]

So u warm the water at home then .... This is making me puzzled and I know it's simple and I'm just over thinking this process smh


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