The auto-repair service industry, a highly competitive one in India, is likely to grow to a Rs. 34,000 crore segment by 2020, from Rs. 20,000 crore in 2017. This alone is reason to prime your business for growth, and make the most of the flourishing environment. Add to this the fact that only 1/3rd of all car owners go back to the authorised service centre for aftersales services. The rest are usually on the hunt for service providers who offer quality service, affordably and are in the vicinity as well. As vehicle owners in the country continue to grow, here’s how you should focus on growing your auto repair business.
1. Focus on improving your database of clients
Simply put, focus on becoming the best auto-repair centre in the locality you’re currently situated in. If this seems like a gargantuan ask, start by taking small steps. Offer discounts to first-time customers, be vocal about where you source your parts from to build a prospective customer’s trust, and simplify and automate the process of generating quotes. The more professional you come across as, the better is the likelihood of clients bringing their business to you. You can then utilise this to bag the business of companies who have a fleet that requires regular maintenance.
Also look into diversifying. For instance, in addition to auto repair services, offer car security systems, sound systems and modifications. Alternatively, start an affordable car wash that is sure to act as a draw. Most importantly, grow your client base by expanding your skill set.
To make the initial investment, don’t dip into your working capital - after all, you’re likely to need it to run your current set-up. Instead, opt for a Bajaj Finserv Business Loan up to 80 lakh, that offers hassle-free finance at a low interest rate without any collateral requirements, making it the perfect way to grow your business.
2. Give prime importance to quality service
Quality is paramount since customers spend significantly on maintaining and repairing their vehicles, and won’t appreciate you cutting corners. So, don’t neglect establishing yourself as a trustworthy service provider. Source quality parts, hire talented technicians with a passion for the job. This will ensure that they’re proud of the work that they’re producing, and aren’t simply doing it to count down the hours of the day. When you provide quality service with durable, long-lasting parts, you’ll find that your customers trust you implicitly, and understand how your business ethic trumps your competitors’.
3. Establish your expertise through social media
Having a strong presence on social media gives your existing customers and potential customers a chance to interact with you, ask you questions and even leave you a glowing review. You can share information related to car-care and useful tips to help people manage their vehicle better. This helps you gain traction and improves your word of mouth marketing, which is big draw, especially when vehicle maintenance is concerned. Also, social media is the first place many people visit when they are scouting reliable service providers. Being able to convert such people into clients will certainly benefit your bottom line. Moreover, having your business tagged or tweeted about also increases your visibility and builds credibility through your customers.
4. Initiate a referral programme
You’ll be surprised just how much a referral plan can help you boost your business’ client base and in turn, your sales. Encourage your existing customers to refer your business to their friends. If they convert into customers, reward them with a discount on their next visit, free accessory for their car or a complimentary service, such as a car wash. For a small cost you’re likely to be able to multiply your business.
You now have all the information required to distinguish yourself from your competitors and grow your business rapidly. Remember, a lack of funds should never hold you back from doing what is best for your business. Instead of waiting till you can save up, use a pre-approved offer to raise finance instantly and get money in bank with just 1-step verification.
