The business model is viable for the foreseeable future. There is no readily available personal transportation substitute for cars and trucks and despite the improving engineering, there will always be a need for maintenance and repairs. There will also always be people that love their cars and will want to do their own work. Additionally, as cars become more complex, people will not want to buy the specialty tools required to do some of the work, but would be willing to rent them.
Also, as metropolitan areas grow, more people are living in apartments and condominiums, which restrict the repairs which can be done in the parking lots. This also will help support our business model, as people look for alternative space in which to work on their vehicles.
8.1 Growth Strategy
Given that the success of the firm is rooted in the demographics of the local market, expansion must be done very carefully. This business model will most likely grow through the opening of new facilities in new markets. Once the enterprise has reached its maximum geographical limit under the current management, a possible growth strategy will be to franchise the name and business process. The most probable target market for this expansion strategy would be current owners of coin-operated car washes.
In addition, our business model will provide a first-mover advantage. This is an easy business model to copy, but a first mover can establish a strong enough foothold into a given market so that it will continue to provide a solid cash flow even if competitors move in. Franchising will allow us to expand farther faster.
8.2 Succession Plan
This firm will be incorporated to protect the owners from personal liability. Succession will come at the discretion of the board.