The question is - What is the excellent business in The city of london, considered that it is a highly packed city with quite high rentals for business space? This write-up aims to talk through one of the many viable remedies to the problem, with a concentrate on the efficient aspects of the business.
According to official figures, by the year 2020, the number of auto owners in the UK will be around 44 million. At the time of writing this write-up, it can safely be estimated that the current figure is somewhere in the wide range of 37 - 40 million. The percentage of auto owners in The city of london have to be above the national percentage, which implies that roughly 5 million Londoners being auto owners. It suggests that the entire adult population of The city of london appreciates at the very least one auto per person if we assume an uniform distribution.
In The city of london and across the entire UK, franchised or supplier managed garages asks for the most, with the mean hovering around ₤ 300.80 in The city of london. This is adhered to by the Independent Chains, who asks for an average of ₤ 224.99 per servicing. In this pecking order, the Specialist Independents and the Fast Fits are much cheaper options with average servicing charges of ₤ 196.73 and ₤ 145.00 respectively. Survey reports reveal that The city of london is one of the costliest cities around the world if you intend to get your auto serviced over there and cumulatively, the auto owners of the UK who goes to the franchised service centers ends up forking over ₤ 500 million extra than what could possibly have been the cumulative charges of Fast-Fit servicing.
If one analyses meticulously, there are a few common factors that skyrockets the servicing charges so high - high rents on business/ garage spaces, under-used capacity, power and gas bills, market rules, unavailability of parts, etc. being a few of them. Most definitely, there is little scope of making high profits for major overhauls and genuine part replacements therefore, these garages makes up for their profit when people flocks in for minor or routine servicing.
Now if you are seeking an opportunity to float your new business, you can certainly plan to exploit these loopholes in their structures. All you should do is to have a van so that you can be mobile and not stagnant, along with 1 or 2 efficient and experienced professionals. By doing this, you will do away with rentals, operational overheads, wastage of resources, etc. Combining all these, the cost incurred by you will be hardly any as as compared to established garages. Also, you will be able to reach those who needs professional aid due to sudden auto malfunctions in the middle of the road or during a long trip to the countryside, where there is long shot to get any sort of garage nearby.
Business Intelligence or BI refers to making use of applications, processes, skills and technologies to make sound business decisions that affect the outcome of the business' operations. Every business entity, big or small, can profit from professional use of BI; merely having access to Business Intelligence can not give for a company's growth, it has to be utilized in the professional manner.