Assignment #1 Description Of Venture

1417 words - 6 pages

Magic Hands Car Wash is a prominent hand car wash that will be serving all the southern rural area. Magic Hands will be run by Dewayne Russell who decided to have his very own self business. The Russell family has been serving the southern area with car repair business and property development /management for over 20 years. Dewayne will be leveraging the incredible good will and brand recognition of the Russell family name to quickly gain market penetration. Magic Hands will be providing customers with three services: exterior car washing, interior cleaning, and detailing. Magic Hands has no true competitors that are trying to offer a high quality service for a reasonable rate. Most are ...view middle of the document...

 Magic Hands will work to keep employees satisfied in order to maintain impeccable customer service.
The start-up expenses for Magic Hands will be financed by Dewayne, from the profits I make in selling part of the family car repair business. Dewayne will also be working with the family lawyer to set up incorporation and to discuss lease issues before the business is launched. He is working with a local graphic designer to develop a logo, letterhead, and company brochures. Although Dewayne has been in the car repair business, he has not been in the wash and detailing business, which is a very different service (quick turnaround per car is incredibly important). For this reason he is working with an acquaintance to set up the system that will ensure efficient service even during peak usage. Rent on the location has been negotiated and will be $1,200 per month. In addition, insurance for the business will be approximately $200 per month and will be paid by direct debit on a monthly basis. Expensed equipment includes three high-power water pumps, two industrial vacuum cleaners, two computer terminals, and one cash register. All of the equipment will be depreciated over three years.
A combination of local media and event marketing will be utilized at each location. Radio is most effective, followed by local print media. As soon as a concentration of stores is established in a market, then broader media will be employed.

The location was previously used as a quick stop automobile service shop, so it is set up to move vehicles quickly through the premises, but does not have all the necessary systems in place to host a car wash and detail facility. The services of a contracting company will be sought to convert the use of the facility and to improve the customer waiting room facilities. Magic Hands segments its customers by type of car ownership. We believe that the type of car that a person owns says volumes about their driving, and, therefore their car washing and detailing requirements.
1. New car owners: Owners of newer cars are most likely to use a hand car washing service. These owners take great pride in their cars and will bring them often to the wash and detail service. The goal with these customers is to promote regular use of the wash and detail service. The aim is to inform these customers that Soapy Rides will keep their car looking as good as it did the day they drove it off the lot.
2. Older luxury car owners: These people have either owned their high-end luxury cars for several years or are unable to afford the expense of a new luxury car but want the feel of relaxed driving. Both of these groups want to keep their cars in the best shape possible. Those who have bought second-hand cars will often spend many hours in their cars and will place high importance on keeping their cars looking good. These owners will bring their cars in for regular washes and occasional details.
3. Sports car owners: These people are often...

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