You hear about “Hot Guys & Hot Chics Mobile Car Detailing” and inquire if franchises are...

You hear about “Hot Guys & Hot Chics Mobile Car Detailing” and inquire if franchises are for sale. Before Jamal and Brian can make that decision they ask you to provide a list of all of the steps you would take (in order) to start-up your franchise. What is in your list?

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Expert Solution

I will take the following steps-

Get the requirements for the Franchise from Jamal and Brian- Since its a franchise model, there will be some minimum standards that Jamal and Brian are looking for. These can be in terms of capacity, area, types of cars that can be detailed, number of workers etc. I will also take details of profit sharing or cost of the franchise name etc.
Based on those requirements, the first things I will do is make a basic model for my cost requirements. It will give me a general idea about the funds that I require. Along with this, I will also make a plan for profitability of the store, based on what the standard “Hot Guys & Hot Chics Mobile Car Detailing” model of sharing profits or costs is, and on how much traffic I am expecting at the store and general profitability of such stores.
If I have the funds on my own, thats one thing taken care of. Otherwise I will also make plan on how I can secure those funds- from family, friends or loan from bank etc.
Once I have those details, I will stake out different areas where I can realistically open such a shop- some areas might have more car traffic and others less. If the franchise serves high end cars then I will look at a nearby affluent area. Cost of rental spance in the area will also be a factor.
Once I have the space and required funds, I will make plans about remodeling the space to fit the “Hot Guys & Hot Chics Mobile Car Detailing” model. For this I will also need to decide upon whom to hire.
Post that, I will plan on how to hire the required workers who are skilled and experienced enough to fulfill the requirements set by “Hot Guys & Hot Chics Mobile Car Detailing”.
Finally, I will also make plans for legal requirements to be fulfilled regarding the same. I will need to get a license and will also need to clear other legal requirements, as required.

This will be my detailed plan.

Rahul Sunny answered 1 year ago

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