For new car care operations, there are a number of mistakes that can lead to failure. Statistics show that 50 percent of small businesses fail in the first five years, according to Entrepreneur.com. Of these 50 percent that fail in the first five years, 30 percent survive only two years.
Though all businesses are different, the website offers new business owners five mistakes to avoid when starting their own operations.
How to start a carwash tip #1: Thinking all you need is an idea.
A good work ethic is the most important thing a new business owner will need, the article says. Details need to be framed, 'what-ifs' must be planned for and a solid foundation for the business must be built.
How to start a carwash tip #2: Not having a good lawyer and a good accountant.
Starting a business is complicated, and there are a number of laws that must be followed. There are many moves that can land a new business owner into some real trouble. "Retaining a lawyer and an accountant with an expertise in your specific type of business cab save you from a serious crisis," the article states.
How to start a carwash tip #3: Spending too much money too soon.
Even if a new operator has plenty of capital, overspending is not required. According to the article, owners should learn where the money should be best spent. Starting slow is important as many businesses have sabotaged growth by trying to grow too fast.
How to start a carwash tip #4: Trying to launch while still working elsewhere.
A business will require an owner's full attention to develop and grow. Planning and savings can be done while still employed elsewhere, but a new business owner will need to devote 100 percent of his or her time to the operation once it opens, the story notes.
How to start a carwash tip #5: Having someone else run things.
The article states that new owners need to be hands-on and have daily involvement with their new business, especially at the start. It is up to the owner to create agendas and schedules. Further, structure is important as is the relationships with different vendors.
Read the entire article on Entrepreneur.com here.
