Are you an investor and not sure where to invest? Well, a motorcycle repair shop can be an ideal plan. With many people preferring the cheap transport method, you can benefit from starting a repair shop for motorcycles. This post provides guidelines on how to establish a successful motorcycle repair shop.
Prepare a Business Plan
A business plan will guide you on how to start and run your business. Things to include in the business plan are start-up capital, how to raise the capital, target market, pricing, expected profits, and marketing strategy. Talk to people in the motorbike accessories business in the town you want to open one. They will help you understand the risks in the industry.
Choose a Strategic Location
Your repair shop should be in a strategic place, easily visible and accessible. It will be best if you locate your garage in a place where there are no other motorcycle garages to minimize competition. You can set up your shop in a neighbourhood where motorcycles are the main mode of transport.
When you decide the location to set up your shop, you also need to rent business premises. The size of your operating space will depend on the size of your garage.
Garnering Capital
This should be among the first things to handle when starting a motorcycle repair shop. If your funds are not enough to start the business, you can look for alternative sources of capital like:
- Loans and grants from financial institutions
- Borrow from family and friends
Register the Repair Shop and Acquire Licenses
It is essential to register your business name. After registering your business name, you will need to acquire the following permits:
- A Single Business Permit: Costs vary from regions, and it also depends on the size of your business.
- A Fire Clearance Certificate: Inspectors and public officers will visit your business premises to carry out inspections. They also inform you about the guidelines of protection against fire, after which they will certify and give you the certificate.
