The aim of this project is to study into the feasibility of a motor factors start-up. This is particularly challenging in this current economic down turn. My plan is to open a shop in my local town selling different types of car parts and accessories; I believe there is a good opening for a business like mine to be successful.
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As I worked as mechanic in the area for many years, I have noticed a lot of downtime in local garage’s due to not having parts on time, also the nearest motor factors is about 50 kilometre away, So my business would reduce downtime and fuel cost for customers. I plan to look in the finance available to me, and also look in to what grant are available from the government for people that are planning to start their own business. I’m also going to research the market, and wholesalers that supply’s the motor factor industry I will also look into the legal issues involved in starting up a business in Ireland.
The areas I wish to pursue are : Legal issues for starting up. Researching the market and wholesalers. Finance, government funding. Marketing plan and sales. Project schedule
According to wiktionary, (2010). The definition of a motor factors, it’s a supplier of car parts and accessories; they supply Car parts and Tools to the motor trade and to the general public. They can deliver top Quality spurious car parts and service kits at a fraction of genuine parts cost. Item imageItem image
A business plan is very important when setting up a business; it is required when looking for government grants, bank loans and also for Investors Capital. It will give you and them a clear picture of your business, and will show that you have thought it through.it also gives your business direction, and let you know what is facing you in the future of the business. Joshua Feinberg states four Benefits of producing a business plan are Motivation, Planning, Analysis and Strategy. Motivation: can help you concentrate with your business plan idea i and giving you a better direction. This will assist you in seeing the direction of your original idea. Planning: can help you show where you are at the moment and where and where you are planning to end up. It gives you assurance where you are going. Analysis: helps you to consider other options that you would normally regard as important. It also helps you interact with different areas of the business. It helps you compare with other generation, how that ties into your services,
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