Everyone needs a good auto body/collision expert. Dings, dents, scratches and worse are unfortunately part of life. And so when someone does need to have work done on their vehicle, the question is whom are they going to turn to? Hopefully, you've done your marketing, made valuable connections, gotten good referrals and serviced happy customers and thus that new client with a dented fender is bound to turn to you.
The key though is that you have the capacity to keep up. At First Union, we've worked with a number of auto body and repair shops; one of the main challenges we've seen is that they are at a point where they really need to expand to keep pace with business, but just aren't sure 1. if they're ready 2. how exactly to do this and 3. if they can get the funds needed for adequate expansion.
The Best Ways To Start On Your Expansion Project
So what are some of the things you should be thinking about as you consider expanding your auto body business…
Consider Acquisition. You don't necessarily have to start from scratch on this. Perhaps there's a smaller nearby collision shop that happens to be struggling—they may be looking for a way out or perhaps some sort of collaborative opportunity. Picking up an already established business may be a great way to start on your expansion.
Build out your current shop. Expand means to get larger, right? Look at your current facility—is it doing the job or is it too cramped to accommodate your growing workload? This may be the perfect time to add on, remodel or even do a complete teardown and build it anew, bigger and better.
Let People Know of Your Expansion. Once you do start in on this type of project it's essential that you let clients, as well as prospective clients, know of your plans. Send out email blasts, press releases, social media updates. This is a great way to gain some publicity and promote your newly expanded auto body shop.
We would love to help you get the funds you need to grow your business—that's why we're in business after all. Whether looking to buy land and build, remodel your current shop or acquire another, we have a loan program that will fit your needs. And with our streamlined application process, it is super easy to get started. Call today and see how we might be able to help!