Are you ready to turn your dreams of a valeting business into a reality? If so, you have chosen a great time to enter the market. There’s a vast amount of cars on the road and the number is only increasing. Add in the relatively low startup costs, and running a valeting business offers up great potential.
At least, that’s if you know how to harness that potential.
That’s because the valeting business is a competitive market. There will be other valets in your local area, all with the necessary equipment, experience, and customer base already in place.
To make a mark, you will need to be dedicated, creative, and informed about the sector. Thankfully, the last point is covered in some form by this article. Below you will find the five key steps to launching a valeting business.
1. Mobile or fixed
With your new business venture, one of the biggest decisions you have to make is choosing whether to be a mobile valet or to have fixed premises.
Being a mobile valet has advantages for both you and the consumer. As a business, it provides lower startup costs and the scope to travel far and wide for a client. For the consumer, they get to enjoy the service from the comfort of their home.
A fixed unit, on the other hand, instantly delivers a more legitimate feel about your business. More complex services can also be offered from fixed premises, and certain customers will only feel comfortable taking their car to a specialized valeting unit.
2. Gain the necessary funding
When you have settled on mobile or fixed premises, this paints a clearer picture as to the amount of capital necessary to get up and running. As a rough estimate, it could cost three times as much if you opt for renting a unit rather than being mobile.
As for acquiring the funding, there are numerous ways to do this. As a valeting company doesn’t have to be expensive when starting up – at least compared to other business choices – this could be possible by using your savings.
When there are no savings to tap into, perhaps the most logical option is to secure a business loan. If this isn’t viable for whatever reason, the money could be raised via credit cards. Although when doing this, try and sign-up for credit cards which come with an initial 0% interest free period.
3. Selecting the right insurance
Insurance is imperative when it comes to starting a valeting business. Considering you’ll often be dealing with expensive motors, some type of coverage is necessary. While you won’t expect to damage any cars, you have to be prepared. When handling powerful tools such as a pressure washer, it can cause problems like stripping paint if used improperly.
The best insurance type for a valeting company is motor trade insurance. With reliable motor trade insurance, a wide range of policies are covered. This will protect you if any issues do arise with a customer’s vehicle.
4. Promote with a big launch
When all other aspects are in place, it’s time to head towards launching your valeting business. When doing this, you want to try and make as big an impact as possible. You only get one shot at a launch, after all, and this is a great way to promote your business.
There are several different ways to have an effective launch. For example, you could plan an event around the launch. An event with free food, drinks, and entertainment will draw people in, and that’s when you can sell them on your valeting business. A contest or endorsement from a local celebrity could also produce results.
Don’t just center your marketing efforts on the launch, either. It’s highly recommended you implement all the standard online promotional tools, including a dedicated website, social media channels, and business listings.
As a local company, you should also utilize plenty of physical marketing methods. The likes of leaflets can be easily distributed, while strategically placed billboards could be seen by thousands of drivers each day. If your business is using a van, take the effort to plaster your business logo and contact details onto it.
5. Upsell customers
Once you have customers in the door and ready to part with their cash, it’s all about attempting to maximize those profit margins. A customer might come in with a set idea as to what they want from your business, but there’s always chance to squeeze out a little extra cash by upselling.
For instance, your car valeting business may offer a standard interior and exterior cleaning service, complete with a protective coating of wax. If this is what a customer requests, make the effort to try and get them to go for a more premium option – such as a machine polish or ceramic coating.
Aside from the actual valeting service, you could also sell small vehicle-related products like air fresheners or dusters. Remember, every penny counts.
