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Start an Automobile Broker Business: Your Complete Guide

Looking for a new business venture? Why not try your hand at becoming an automobile broker? As an automobile broker, you’ll be responsible for connecting buyers and sellers of cars, trucks, and other vehicles. Not only is it a great way to earn some extra income, but you’ll also get to work with some amazing people and see some incredible vehicles. Ready to get started? Here’s your complete guide to starting an automobile broker business. Trust us – it’s easier than you think! Let’s get started.

Table of Contents

What is an automobile broker business, how do i find customers for my automobile broker business.

Many people might not be familiar with the term “automobile broker,” but it’s actually a valuable service for car buyers. Instead of scouring dealerships and private listings, a car broker can do the legwork for you, searching to find the perfect vehicle at the best price. They often have connections and insider knowledge that give them access to discounts and exclusive deals.

The broker will also handle all of the paperwork and negotiations, making the car-buying process much easier and stress-free. So if you’re in the market for a new car, consider hiring an automobile broker to help streamline your search and save money. It may just be the smartest decision you make.

Why would I want to start an Automobile Broker business?

So, you’re thinking about a career in automobile broking? Great choice! As an auto broker, you’ll have the opportunity to work with a wide range of clients, from individual car buyers to large corporations. You’ll get to help people find the right car for their needs and budget, and you’ll enjoy a high degree of autonomy and flexibility in your work. In this section, we’ll take a look at some of the key reasons why a career in auto broking could be the right choice for you.

Autonomous work with flexible hours

As an auto broker, you’ll have the freedom to work autonomously and set your own hours. This is a great option for entrepreneurs or anyone who prefers not to work within the traditional 9-5 framework. You can structure your work schedule around your other commitments, whether that means fitting in client appointments around your child’s school schedule or taking on extra assignments during your slower periods.

Earn a good income

Auto broking can be a very lucrative career choice. The average auto broker earns a commission of 10-15% on every car sale they broker, which can add up to a healthy income if you’re closing deals regularly. Additionally, many auto brokers also receive bonuses and commissions from car dealerships for bringing them business.

Help people find their perfect car

If you love cars and enjoy working with people, then auto broking could be the perfect career for you! As an auto broker, you’ll get to help clients find the perfect car for their needs and budget. You’ll need to have strong knowledge of the different makes and models of cars on the market so that you can advise your clients accordingly.

Are you looking for a career that offers autonomy, flexibility, and good earning potential? If so, then automobile broking could be the right choice for you! In this blog post, we’ve looked at just some of the reasons why a career in auto broking could be the right fit for you. So what are you waiting for? Start researching today and see if auto broking could be the right career path for you!

How do I start an Automobile Broker business?

Have you ever dreamed of owning your own business? Of being your own boss and setting your own hours? If you love cars, then starting an automobile broker business could be the perfect entrepreneurial venture for you. As an auto broker, you would act as a middleman between buyers and sellers of vehicles, helping to negotiate prices and facilitating the sale. Though it may sound like a daunting task, with a little research and planning, starting your own auto broker business can be a smooth and exciting process. Read on to learn more about how to get started in this car-savvy industry.

What is an automobile broker business and what services do they offer to customers

car broker business plan

An automobile broker business is a valuable service for car buyers and sellers. As a broker, your job would be to assist in finding the right vehicle at the best price for customers, whether they are buying or selling. This can include conducting research on available vehicles and negotiating prices with dealerships or private sellers.

You may also provide additional services such as arranging financing and facilitating the transfer of paperwork and ownership. A successful auto broker business requires strong knowledge of the industry and great negotiation skills. It can also be helpful to establish relationships with dealerships to facilitate a smooth transaction process for your clients.

Overall, becoming an automobile broker provides an opportunity to help customers navigate the often complex world of car buying and selling while earning a profit for your business.

How do you start an automobile broker business – the necessary steps

Looking to break into the automotive industry as a broker? It may be a competitive field, but with the proper planning and preparation, you can set yourself up for success.

First, research current laws and regulations in your area regarding automobile brokers. You may need to obtain specific licenses or permits in order to operate legally.

Next, gather information on the most in-demand vehicles and make connections with dealerships or private sellers to acquire these cars for sale.

Lastly, market yourself effectively by creating a website, networking with potential clients, and establishing partnerships with car dealerships or other related businesses. Starting an auto broker business requires diligence and hard work, but if done properly, it can be a profitable venture.

What are some of the challenges that you will face when starting this type of business

Starting a successful auto broker business can be a rewarding and lucrative career, but it also comes with its own set of challenges. First, this industry requires strong networking skills as you will need to build relationships with car dealerships and individual sellers in order to source vehicles for your clients. It’s also important to have an understanding of the car market and pricing, as well as the ability to negotiate on behalf of your clients.

In addition, there is a lot of paperwork and administrative tasks involved in buying and selling cars, including ensuring all necessary documents are completed and filed correctly.

Finally, dealing with customer satisfaction and maintaining good relationships with clients can also present its own set of challenges. However, with dedication and hard work, these challenges can be overcome and lead to a successful auto broker business.

How can you make your automobile broker business successful in the long run

Starting your own automobile broker business can be a challenging and competitive endeavor. However, remaining successful in the long run requires careful planning and strategy. It’s important to have a strong understanding of the industry and current market trends. Networking with reputable dealerships and building a solid reputation within the community can also go a long way in attracting potential customers.

Staying organized and offering personalized customer service can help maintain relationships with clients and drive repeat business. Finally, staying updated on industry developments and being open to adapting to changes can ensure continued success in the ever-evolving automotive world. By following these steps, you will put your auto broker business on the path to long-term success.

What are some tips for maintaining a positive relationship with clients and keeping them happy

As a successful auto broker, maintaining positive relationships with your clients is key. Here are some tips for ensuring happy and satisfied customers:

First, communication is critical. Make sure to clearly outline the process for purchasing or selling a vehicle and ensure that both parties understand any agreements that have been made. Stay in touch throughout the process and follow up with any updates or changes in a timely manner.

Another important element is accountability. Take responsibility for any mistakes that may occur and work quickly to find a solution. This can help build trust and demonstrate your dedication to meeting the needs of your clients.

Additionally, always be open to feedback and make sure to resolve any issues promptly. Keep in mind that excellent customer service can lead to repeat business and referrals, so prioritize building strong connections with your clients at every step of the process.

How much does it cost to start an Automobile Broker business?

The cost of starting an automobile broker business can range from a few hundred dollars to over a thousand. The specific amount will depend on the state in which you wish to operate and the services you plan to offer. Additionally, you will need to factor in the cost of bonding and insurance, as well as any licenses or permits required by your state. In this blog post, we’ll break down the different costs associated with starting an automobile broker business so that you can make an informed decision about whether or not this is the right business for you.

Initial Costs

One of the great things about starting an automobile broker business is that the initial investment is relatively low. You can get started with just a few hundred dollars, which can be used to cover the cost of your state’s business registration fee and any other necessary permits or licenses. If you already have a suitable vehicle, you may not need to invest anything further in order to get started. However, if you do not have a vehicle that meets your state’s requirements for commercial use, you will need to purchase one.

Bonding and Insurance

In order to operate legally, most states require automobile brokers to obtain a surety bond. This bond serves as a guarantee that you will adhere to all applicable laws and regulations when conducting business. The cost of the bond will vary depending on the amount required by your state, but it is typically between $500 and $5,000. In addition to bonding, you will also need to obtain insurance for your business. The specific insurance requirements will vary depending on your state, but they typically include liability insurance and property insurance. The cost of insurance can range from a few hundred dollars per year to several thousand, depending on the coverage levels you choose.

Ongoing Costs

Once you have obtained your bond and insurance and are up and running, there are some ongoing costs that you will need to consider. The first is advertising. Depending on the size and scope of your operation, marketing expenses can range from a few hundred dollars per month to several thousand. Additionally, you will need to factor in the cost of gas and maintenance for your vehicles, as well as any salaries or fees paid to employees or contractors.

The cost of starting an automobile broker business varies depending on numerous factors such as location, services offered, and whether or not you already have a suitable vehicle for commercial use. However, if you do your research and plan carefully, it is possible to get started with just a few hundred dollars in upfront costs. Once you’re up and running, there are some ongoing costs that you’ll need to consider such as advertising and vehicle maintenance, but these should be relatively easy to manage if you’re organized and efficient.

Congratulations on starting your own automobile broker business! This is a fantastic way to be your own boss, set your own hours, and make a great living. But of course, one of the most important questions on your mind right now is “Where do I find customers for my business?” Luckily, we’ve got you covered. Keep reading to learn about the three best places to find customers for your new automobile broker business.

Referrals from Friends and Family

One of the best ways to find new customers is through referrals from friends and family. If you have a close network of people who know and trust you, they are more likely to refer you to their friends and colleagues who might be in the market for an automobile broker. So how do you get these referral? Start by letting your close friends and family know that you’ve started your own business and that you’re looking for customers. Ask them if they know anyone who might need your services, and offer a referral fee if they’re able to connect you with a new customer. Chances are good that you’ll be able to get at least a few referral leads this way.

Online Directories and Listings

Another great way to find potential customers is through online directories and listings. There are numerous websites that list businesses in specific industries, such as automobiles, so that consumers can easily find the businesses they need. This means that if someone is searching for an automobile broker in their area, your business will come up in the search results. In order to make sure that your business is listed in as many online directories as possible, do a search for “automobile broker directory” and see what comes up. Then, claim or create listings for your business on each of the top results. This will help ensure that potential customers can easily find you when they’re searching online.

Local Print or Broadcast Media Advertising

Another effective way to reach potential customers is through local print or broadcast media advertising. If you want to reach a large number of people in your area quickly, advertising in newspapers or on local radio or television stations is a good option. Of course, this type of advertising can be expensive, so it’s important to carefully consider your target audience and whether they’re likely to see or hear your ad before making this investment. Sometimes, spending a bit more money on advertising can pay off if it reaches the right people at the right time.

These are three of the best places to find potential customers for your new automobile broker business. By leveraging referrals from friends and family, creating listings in online directories, and investing in local advertising, you’ll be well on your way to attracting new clients and growing your business!

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About Jeremy Reis

Jeremy Reis is a serial entrepreneur from the Franklin, Tennessee area. Jeremy is the founder of multiple businesses and is the VP of Marketing for CRISTA Ministries. Jeremy has his MBA with a focus in Entrepreneurship from The Ohio State University.

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  • What is an Auto Broker and how do you become one?

What is the difference between an Auto Dealer and an Auto Broker?

Here is an example to illustrate the difference between an auto dealer and an auto broker:, how do you become an auto broker, how do you become an auto broker in california, how much does it cost to be an auto broker, benefits of being an auto broker, how much money do auto brokers make, ways to make money as an auto broker, where can i find an auto broker near me.

Auto Brokers are professionals who act as an intermediary between car buyers and dealerships to help buyers find the specific make and model they want to purchase.

Auto Brokers can access a wide range of new and used vehicles through their dealer networks. They often negotiate better prices, trade-in values, and financing terms than consumers could negotiate on their own.

Licensed Auto Brokers can sell vehicles to buyers in any state, online, or in person at their office. Other states may differ; visit their DMV licensing website for more details.

Generally speaking, Auto Dealers sell new or used vehicles from their on-site inventory at their dealership. Auto brokers have more flexibility in the type of vehicles they can offer, and they are not limited to the inventory of a single dealership. They can source vehicles from a variety of sources.

A Dealer may choose to be both an Auto Dealer and an Auto Broker.

John is a car buyer who is looking to purchase a new car. He finds out the local auto dealership has a limited selection of cars and the prices are non-negotiable. John leaves the dealership feeling frustrated because he was unable to find the specific car he wanted at a price he was willing to pay. Later, John contacts a local Auto Broker and tells them what type of car he is looking for, including the make, model, and specific features he wants. The Auto Broker has access to a network of dealerships and within a few days, the Auto Broker is able to locate the exact car John was looking for and negotiate a better price on his behalf. John is thrilled with the results and is able to purchase the car he wants at a price he is comfortable with.

In this example, the auto dealer was limited by their inventory and unable to negotiate on price, while the auto broker could access a wider range of vehicles and negotiate a better price for the customer. This highlights the difference between an auto dealer and an auto broker and the benefits of working with a retail dealer with their broker endorsement.

Most states require Auto Brokers to obtain a license like an Auto Dealer. Several states don’t have a different Broker requirement and allow any licensed Dealer to provide Broker services. To determine the specific requirements for becoming an auto broker in your state, consult your state’s Department of Motor Vehicles or a licensed auto broker.

California requires you to be a licensed “Retail” dealer to be able to add the “Auto Broker Endorsement” to that license. You can add the broker endorsement while applying for your license or anytime in the future. The California DMV has 3 general steps:

  • Take the Online DMV Pre-License Training 
  • Pass the 40-question test at the DMV
  • Apply for your Dealer License and add the Broker Endorsement

We have a free “12 Step Checklist” to get a California Dealer License .

Adding a Broker endorsement to your license is inexpensive once you have obtained your Dealer license. For example, California only charges $100/yr and you can remove it at any time.

  • Flexibility: You can set your schedule and work independently with little to no inventory.
  • High earning potential: Successful Brokers can earn a significant income by earning commissions on leases and vehicle sales.
  • Knowledge of the Industry: You will gain a deep understanding of the car buying process and the many options available to buyers.
  • Networking: The opportunity to build relationships with various industry professionals, including car dealers, finance companies, and car buyers.
  • Helping Customers: Help customers find the perfect vehicle through your network of a wide variety of different dealers.
  • Negotiating Power: You will have and learn the skills and knowledge to negotiate the best deals on cars and financing terms for your clients.
  • Special Plates (Dealer Plates): Auto Brokers in California (for example) also get dealer plates to drive their inventory vehicles.

Typically, Auto Brokers earn a commission (not a salary) from the dealership for each vehicle they sell or lease. The commission can range from a few hundred dollars for a lower-priced vehicle to several thousand dollars for a high-end vehicle. The exact commission is usually negotiated between the auto broker and the dealership, and the amount can vary depending on a variety of factors, including the type of vehicle, price, arrangements with the selling dealership, and the level of service provided.

Auto Brokers may charge a fee to the customer for their services in addition to the commission earned from the dealership. The fee can be a flat rate or a percentage of the vehicle’s purchase price.

Like any other profession, the earning potential for an Auto Broker can be influenced by their experience, location, market conditions, and the individual Broker’s efforts and abilities. The more successful an auto broker is in generating business and closing deals, the more money they can potentially earn.

Auto Brokers can sell vehicles and refer lease deals in any state, online, or in-person. Here are some other ways that an Auto Broker can generate revenue:

  • Commission-based sales: As mentioned earlier, auto brokers can earn a commission from the dealership for each vehicle they sell or lease. The commission is usually a percentage of the vehicle’s purchase price or lease amount.
  • Service fees: Some auto brokers charge a fee to the customer for their services in addition to the commission earned from the dealership. The fee can be a flat rate or a percentage of the vehicle’s purchase price.
  • Volume bonuses: Some dealerships may offer volume bonuses to auto brokers who sell a high volume of vehicles in a given period of time.
  • Upselling: Auto brokers can earn additional revenue by selling additional products or services, such as extended warranties, gap insurance, or vehicle accessories, to customers during the sales process.
  • Marketing and advertising services: Some auto brokers offer marketing and advertising services to dealerships and may earn a fee for these services.
  • Leasing management: Auto brokers specializing in leasing can earn revenue by managing the leasing process for both the customer and the dealership, including negotiating terms and handling paperwork.

If you are in the market for a new or used vehicle, you can find an auto broker near you by searching online for “auto broker near me” or by area like “auto broker near me in Los Angeles”. This will bring up a list of auto brokers in your area, their contact information and reviews from previous customers.

When choosing an auto broker, it’s important to consider their experience, reputation, and the types of vehicles they specialize in.

Once you have chosen an auto broker, they will work with you to identify the type of vehicle you are interested in and help you find the best deal. They will handle the negotiation process with dealerships and help you complete all the necessary paperwork. With an auto broker on your side, you can feel confident that you are getting a fair price and that the buying or leasing process will be smooth and stress-free.

You can also check your state’s the Department of Motor Vehicles (DMV) and see if they have a list of licensed Auto Brokers. California’s DMV has a dealer license search listed on their website.

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How to Start an Auto Broker Business: A Step-by-Step Guide

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By Happy Sharer

car broker business plan

Introduction

An auto broker is a professional who helps customers buy or lease a vehicle at the best price possible. They act as intermediaries between buyers and dealerships and can help customers save time and money by providing access to discounts and special offers that may not be available directly from the dealership. Being an auto broker can be a lucrative and rewarding career, but it does require some specialized knowledge and skills.

Steps for Starting an Auto Broker Business

Steps for Starting an Auto Broker Business

Starting an auto broker business requires a significant amount of preparation and planning. Here are some steps you should take to get started:

Identify Essential Skills and Knowledge Needed

Auto brokers must have a comprehensive understanding of the automotive industry, including how cars are priced, the different types of financing options available, and the laws and regulations that govern the industry. You should also be familiar with sales techniques and customer service principles. Additionally, having a strong network of contacts in the industry can be invaluable when it comes to finding leads and closing deals.

Understand Legal Requirements

You’ll need to comply with all applicable laws and regulations in your state or country before you can start your business. This includes registering your business entity, obtaining any necessary licenses or permits, and understanding consumer protection laws. Make sure you research the requirements in your area thoroughly before you begin.

Develop a Business Plan

Having a detailed business plan is essential for any successful business, and this is no different when it comes to starting an auto broker business. Your plan should include an analysis of the market, a description of your services, a marketing strategy, and a financial plan. It will serve as a roadmap for your business and should be updated regularly as your business grows and evolves.

Secure Financing

You’ll need to secure financing in order to cover your startup costs. This may include personal loans, small business loans, or other forms of financing. Make sure you shop around for the best rates and terms before committing to any loan.

Obtain Necessary Licenses and Permits

Depending on where you live, you may need to obtain special licenses or permits in order to operate an auto broker business. Be sure to check with your local government to determine which licenses or permits you need and how to obtain them.

Strategies for Finding Customers and Growing Your Business

Strategies for Finding Customers and Growing Your Business

Once you’ve established your business, you’ll need to focus on finding customers and growing your business. Here are some strategies you can use:

Building relationships with other people in the automotive industry is one of the most effective ways to find clients. Attend industry events, join relevant online forums, and reach out to potential customers to introduce yourself and your services.

Advertising

Advertising your auto broker business is essential for success. Consider placing ads in local newspapers, magazines, and websites, as well as utilizing search engine optimization (SEO) techniques to increase your visibility online. You should also consider creating a website for your business and using social media to promote your services.

Social Media

Social media is a powerful tool for connecting with potential customers. Utilize platforms like Facebook, Instagram, and Twitter to share updates about your business, showcase your services, and engage with your followers.

Word-of-mouth referrals are one of the most effective ways to drive business. Encourage satisfied customers to spread the word about your services and offer incentives for referrals.

Tips for Negotiating Deals and Maximizing Profits

Negotiating deals is an important part of being an auto broker and can help you maximize your profits. Here are some tips to keep in mind:

Research the Market

Do your research to understand the current market conditions, including car prices, financing options, and dealer incentives. This will give you the information you need to negotiate the best deal possible.

Know Your Customer’s Needs

Get to know your customers and understand their needs so you can tailor your negotiation strategy to meet those needs. Be prepared to make compromises and be flexible in order to close the deal.

Use Persuasive Language

Learn how to effectively communicate your points and use persuasive language when negotiating. This will help you build trust and get the best deal possible.

Leverage Technology

Technology can be a great asset when negotiating. Use it to quickly find the best deals, compare prices, and stay up-to-date on the latest trends in the industry.

Starting an auto broker business requires dedication, hard work, and a thorough understanding of the industry. By following the steps outlined above, you can set yourself up for success and start making money as an auto broker. Make sure to keep learning and growing as you go, and you’ll be well on your way to building a successful business.

(Note: Is this article not meeting your expectations? Do you have knowledge or insights to share? Unlock new opportunities and expand your reach by joining our authors team. Click Registration to join us and share your expertise with our readers.)

Hi, I'm Happy Sharer and I love sharing interesting and useful knowledge with others. I have a passion for learning and enjoy explaining complex concepts in a simple way.

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Auto Broker Business Plan and SWOT Analysis

Auto Broker Business Plan, Marketing Plan, How To Guide, and Funding Directory

The Auto Broker Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start an Auto Broker business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.

Your Business Planning Package will be immediately emailed to you after you make your purchase.

  • Bank/Investor Ready!
  • Complete Industry Research
  • 3 Year Excel Financial Model
  • Business Plan (26 to 30 pages)
  • Loan Amortization and ROI Tools
  • Three SWOT Analysis Templates
  • Easy to Use Instructions
  • All Documents Delivered in Word, Excel, and PDF Format
  • Meets SBA Requirements

Auto brokers work in a unique capacity within the car selling industry given that they source a specific vehicle on behalf of a buyer. The gross margins, as such, are extremely high from providing the services to the general public. One of the nice things about these businesses is that they are able to render their services both directly to individual buyers as well as car wholesalers and car dealers. There are always a number of specialty car dealers that need to source a specific vehicle for their client. As such, these businesses are able to operate with strong gross margins and a low operating and overhead cost. Typically, the startup cost associated with an automotive broker ranges anywhere from $30,000 to $50,000 depending on whether or not the business is actually going to take possession of any vehicle is sourced on behalf of the customer. Usually, if an auto broker is going to be sourcing vehicles directly and acquiring from for their own account and they are going to be able to obtain a line of credit that is secured by the vehicle inventory that is being purchased. Almost all banks and lenders are willing to extend this type of credit to an automotive brokerage business. Additionally, it should be noted that these businesses are relatively immune from negative changes in the economy but an economic recession almost always has a modest impact on top line income.

An automotive brokerage business plan should be included if an individual owner operator is seeking to acquire capital from a financial institution or private investor. Most importantly, a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page should be developed so that the financial institution or investor can understand how the business will repay its obligations on a month-to-month basis. Although many automotive brokers will operate in a more localized capacity, the power of the Internet has allowed these businesses to immediately have a nationwide presence from the onset of their operations. It should be noted within the business planning document how the individual auto broker will be able to develop ongoing relationships with car dealers and car wholesalers on a nationwide basis immediately upon launching business operations. A demographic analysis regarding the types of buyers should be included as well with a focus on median household income, median family income, and the percentage of income that is available for the purchase of a new or used vehicle. Given that everyone does need a car, the demographic analysis is included within the business planning document can be somewhat broad.

Of equal importance to the business plan is the auto broker marketing plan. This document needs to be at least 10 to 15 pages in length and should showcase primarily how the brokerage will operate in an online capacity. Many third-party websites such as auto trader.com, eBay.com, and others allow for auto brokers to place advertisements on these websites in order to make sales. As such, it is imperative that the auto broker not only maintain a proprietary website but also ongoing platforms that allow for the sales of vehicles directly to the general public. This is especially true of the auto broker is going to be acquiring vehicles for their own account and needs to have a method for ensuring inventory turnover. Many auto brokers also maintain profiles on popular social media platforms such as FaceBook, Twitter, Google+, Instagram, and Reddit. This is important especially if the auto broker is going to be selling cars directly to the general public and provided that these firms are able to maintain a strong following the inventory turnover rate can be increased significantly. A presence on social media, especially with a profile that has strong reviews, also boost the brand-name visibility of the business while ensuring that customers are working with a legitimate car selling and car brokering operation. Almost all businesses these days do maintain some presence on social media in order to boost their online visibility. Beyond this type of marketing, many auto brokers will also use pay per click marketing in order to drive traffic to their respective websites. If done correctly this can produce a very strong return on investment as it relates to the underlying advertising budget. Many auto brokers we use a third-party firm to provide the ongoing management of this type of marketing. While these expenses may be high, in the long run it is very much worth it if the auto broker does not have the proper internal staff to manage their Internet marketing.

An auto broker SWOT analysis should be developed as well. As relates to strengths, auto brokers are one of the few companies within this industry that are able to generate significant gross margins from direct brokering services as well as sales of vehicles. Their operations can be contracted during times of economic recession so that they are able to remain profitable and cash flow positive in any economic climate. As relates to weaknesses, this is an industry that is highly competitive and cars are a commodity. This lends to both being a strength and weakness at the same time. The underlying operating costs can also be high especially as it relates to marketing and advertising fees. For opportunities, most auto brokers will seek to expand their working capital line of credit so that they can purchase and deal in a larger number of vehicles on an ongoing basis. This is really the only way that these be businesses are able to expand. For threats, this is a highly established industry and there are going to be no issues moving forward with changes in regulation or technology that would impact the way that these businesses conduct their operations. Given the auto brokers do not maintain large inventories on their books they can scale back or require additional vehicles that are in demand among the general public. The high gross margins generated from revenues coupled with the moderate overhead and operating costs makes an auto broker a strong small business investment.

SharpSheets

500+ business plans and financial models

Car Dealership Business Plan: Complete Guide

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  • January 11, 2023

car broker business plan

Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) for your car dealership, you will need to prepare a solid business plan.

In this article we go through, step-by-step, all the different sections you need in your car dealership business plan. Use this template to create a complete, clear and solid business plan that get you funded.

1. Executive Summary

The executive summary of a business plan gives a sneak peek of the information about your business plan to lenders and/or investors.

If the information you provide here is not concise, informative, and scannable, potential lenders and investors may lose interest.

Though the executive summary is the first and the most important section, it should normally be the last section you write because it will have the summary of different sections included in the entire business plan below.

Why do you need a business plan for your car dealership?

The purpose of a business plan is to secure funding through one of the following channels:

  • Obtain bank financing or secure a loan from other lenders (such as a SBA loan )
  • Obtain private investments from investment funds, angel investors, etc.
  • Obtain a public or a private grant

How to write an executive summary for your car dealership?

Provide a precise and high-level summary of every section that you have included in the business plan. The information and the data you include in this segment should grab the attention of potential investors and lenders immediately. Also make sure that the executive summary doesn’t exceed 2 pages.

The executive summary usually consists of the 5 main paragraphs:

  • Business overview : introduce your car dealership: what is your business model (franchise vs. independent business ; new vs. used car dealership), how many cars will you have in inventory? Are you partnering with any car manufacturer(s)? Where would your store be located? Etc.
  • Market overview : briefly analyze the car dealership industry in your area ( market size and growth), your competitors and target customers: average income of your target audience , demographic distribution, customer preferences etc.
  • Management & people : introduce the management team and their industry experience. Mention your business partner(s), if any. Also give here an overview of the different teams, roles and their reporting lines
  • Financial plan : how much profit and revenue do you expect in the next 5 years? When will you reach the break-even point and start making profits? Also include here a small chart with your key financials (revenue, net profit )
  • Funding ask : what loan/investment/grant are you seeking? How much do you need? How long will this last? How will you spend the money?

car broker business plan

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2. Business Overview

In the business overview section of your car dealership business plan, you should expand on what your company sells, to whom, and how it is structured. A few examples of questions you must answer here are:

  • The history behind the project: why did you choose to open a car dealership today?
  • Your business model : Are you franchising or is this an independent store? Are you selling new or used vehicles?
  • Products & services : What vehicles / brands do you plan to sell? Are you planning to add any additional services (e.g. car repair & checkups, etc.)
  • What is the legal structure of your company? Who are the directors / shareholders?

a) History of the Project

Briefly explain how did you come up with the plan to start a car dealership business. What motivated you to get into this business venture? 

Also try to demonstrate to investors your interest and passion for the car industry and car dealership in general.

For example, you might have worked in a car dealership and/or at a car manufacturer sales department in the past, and found immense growth potential for this type of business in your area.

car broker business plan

b) Business Model

Explain in this section what business model you chose for your car dealership. Here are a few questions you must answer:

  • Will you start an independent dealership, franchise model, chain store, etc.?
  • Will you open a brand-specific dealership?
  • Would your car dealership deal in new cars, used cars, or both?
  • Do you plan to open an online dealership?
  • Would you offer service and repairs in your car dealership?

c) Products & Services

Now that we have briefly introduced what your business model is, you must explain in detail what exactly you intend to sell. There are 2 things here:

  • Products (cars): what vehicles and brands do you intend to sell? Why did you choose these vehicles / brands?
  • Services : if you offer additional services (e.g. car repairs, checkups), explain what they are

In addition to the products and services , you should also include a list of prices for each. Of course, this doesn’t need to be exact. Car prices fluctuate based on various factors. Yet, you must be able to provide a range of prices for each category (e.g. sedan, luxury cars, vans, etc.).

If you specialize in a specific brand, you can provide a list of prices per model in appendix as well.

The prices are important as they will allow investors to tie your product offering with your financial projections later on.

car broker business plan

d) Legal Structure

Explain the legal structure of your nursing home in this section. Are you starting a corporation, a limited liability company, or a partnership? Who are the investors? How much equity do they actually own? Is there a board of directors? Do they have prior industry experience?

3. Car Dealership Market Overview

A complete understanding of the car dealership industry is important for the success of your business.

Therefore, you must cover here 3 important areas:

  • Status quo : how big is the car dealership industry in your area? How fast is the market growing? What are the trends fuelling this growth (or decline)?
  • Competition overview : how many car dealership competitors are there? How do they compare vs. your business? How can you differentiate yourself from them?
  • Customer analysis : what are your target customers? What are their customer preferences?

a) Status quo

When looking at the car dealership industry, try to start at the national level (US) and narrow it down to your service area (a city for example). You should answer 2 important questions here:

How big is the car dealership industry in your area?

How fast is the car dealership industry growing in your area, how big is the car dealership industry in the us.

The auto parts and car dealership industry in the US is huge: it was worth $1.18 trillion in 2021 as per the National Automobile Dealers Association . As per the same report, there were 16,676 light vehicles car dealerships in the US in 2021 which generate an average revenue of $71 million.

car broker business plan

Sales are divided between new (52%) and used vehicles (37%) as well as services and parts (11%).

car broker business plan

After the US, assess the size of the car wash industry in your city or area. Focus on the zone where you plan to offer your services.

Naturally, you might not be able to get the data for your specific city or region. Instead, you can estimate the size of your market, for more information on how to do it, read our article on how to estimate TAM, SAM and SOM for your startup .

Luckily, NADA publishes statistics per state so you can narrow it down easily. For your city instead, you will need to do work out some estimates. To give you an example, let’s assume you plan to operate in an area where there are already 30 car dealership businesses (in a 25 miles radius for example).

Assuming our business is based in Connecticut, we can use the state’s average annual turnover of $49,661 : we can reasonably assume that the car dealership industry is worth $1.5 million in your area . In other words, there are over 35,100 light vehicles (new and used) being sold in your area each year (assuming the average retail price of $43,000).

Now that we know your area’s market size, let’s look at growth instead.

Fortunately, you can use NADA’s number again as they publish annual reports. Just use your state’s market size growth, and explain the growth (or decline). This can be due to average car prices, or volume.

car broker business plan

b) Competition overview

You should discuss both your direct and indirect competition in your business plan. Other car dealerships in the region will be your immediate competitors. Internet auctions, individual dealers, etc., will be your indirect competitors. 

In this section, you should also discuss the essential components of the business models of your main competitors. Your research should be focused on their clientele, the kinds of cars they offer, and their strengths and weaknesses .

A thorough competitive analysis is crucial as it may allow you to discover and address a customer need or preference that none of your rivals is addressing today.

Here are some of the questions that you must answer in this section:

  • How many competitors are there in the area where you want to open your car dealership?
  • Are they franchises or independent stores?
  • Do they partner with specific car manufacturers?
  • What type of cars do they offer (luxury, economy, used, new, etc.)?
  • What is the average price range of the cars they sell?
  • How many employees do they have?
  • Do they offer services and repairs?
  • Do your competitors offer buyback on the cars sold by them previously to the client?
  • What type of offers and discounts do they offer to attract customers?
  • How many cars / vehicles do they sell on average per month?

car broker business plan

c) Customer analysis

Now that we have a good idea of the car dealership industry in your area as well as competition, now is time to focus on your target audience: customers.

Knowing your customer is extremely important before you get into any business. This is all the more relevant for car dealership where customer preferences and tastes are very different.

For example, if you are planning to get into a luxury car dealership business, you should look into:

  • The estimated population of high-income people in your area
  • Types of luxury cars that are in demand (hatchback, sedan, SUV, etc.)
  • Shopping preference of your target customers (online or offline)
  • How frequently do they buy (or exchange) new cars?
  • Is their buying decision influenced by offers or discounts?
  • What features do your target customers want in their new luxury cars?
  • What type of additional services do they expect from their dealers?

4. Sales & Marketing Strategy

This is the section of your business plan where you outline your customer acquisition strategy. Try to answer the following questions:

  • What are the different marketing strategies you will use?
  • What are your Unique Selling Points (USPs)? In other words, how do you differentiate from your competitors?
  • How do you intend to track the success of your marketing strategy ?
  • What is your CAC or customer acquisition cost?
  • What is your marketing budget?

What marketing channels do car dealerships use?

A few marketing channels that car dealership businesses typically use are:

  • Signage, billboards
  • PPC ads, Facebook ads, etc.
  • Print media
  • Loyalty programs
  • Online local listing (Google Business)
  • Content marketing (share content like vehicle maintenance tips, safe driving tips, etc.) on platforms like blogs, social media, etc.
  • Word of mouth, recommendations

You must have a fair and nearly accurate estimate of your marketing budget. Therefore, make sure to budget for marketing accordingly in your financial projections.

car broker business plan

What are your Unique Selling Propositions (USPs)?

In other words, how do you differentiate yourself vs. competitors? This is very important as you might need to win customers from competitors.

A few examples of USPs are:

  • Products: you may be the exclusive distributor or a car make in your area for example
  • Services : you may offer repairs and regular checkups for your customers
  • Location : you store is closer to a busy road and/or to where your customers live

Your USPs will depend on your business model, competitor analysis, and target audience. Whatever your USPs are, it should appeal to your potential customers and attract them.

5. Management & People

You must address 2 things here:

  • The management team and their experience/track record
  • The organizational structure: the different team members and who reports to whom

Small businesses often fail because of managerial weaknesses. Thus, having a strong management team is vital. Highlight the experience and education of senior managers that you intend to hire to oversee your car dealership.

Describe their duties, responsibilities, and roles. Also, highlight their previous experience and explain how they succeeded in their previous roles.

Organization Structure

Even if you haven’t already hired a VP of sales, sales managers, support staff and any other relevant staff members, you must provide a chart of the organizational structure outlining the different teams, roles and their reporting lines.

car broker business plan

6. Financial Plan

The financial plan is perhaps, with the executive summary, the most important section of any business plan.

Indeed, a solid financial plan tells lenders that your business is viable and can repay the loan you need from them. If you’re looking to raise equity from private investors, a solid financial plan will prove them your car dealership is an attractive investment.

There should be 3 sections to your financial plan section:

  • Your historical financials (only if you already operate the business and have financial accounts to show)
  • The startup costs of your project (if you plan to start a new car dealership, or purchase new inventory, expand your store, etc.)
  • The 5-year financial projections

a) Historical Financials (if any)

In the scenario where you already have some historical financials (a few quarters or a few years), include them. A summary of your financial statements in the form of charts e.g. revenue, gross profit and net profit is enough, save the rest for the appendix.

If you don’t have any, don’t worry, most new businesses don’t have any historical financials and that’s ok. If so, jump to Startup Costs instead.

b) Startup Costs

Before we expand on 5-year financial projections in the following section, it’s always best practice to start with listing the startup costs of your project. For a car dealership, startup costs are all the expenses you incur before you open your shop and starting making sales. These expenses typically are:

  • The lease deposit for the commercial space you rent (if you don’t buy it)
  • The design and renovation of the existing facilities
  • The inventory costs (the initial stock of vehicles you must buy to sell them at opening)

For example, let’s assume you want to buy 30 light vehicles as a start for inventory, and you take on a loan where you need to put down 15% upfront. Now, assuming these vehicles each cost $50,000 on average, this means you must put down $300,000 yourself. This comes in addition with any other startup cost mentioned above (lease deposit, renovation costs, etc.).

c) 5-Year Financial Projections

In addition to startup costs, you will now need to build a solid 5-year financial model as part of your business plan for your car dealership .

Your financial projections should be built using a spreadsheet (e.g. Excel or Google Sheets) and presented in the form of tables and charts in your business plan.

As usual, keep it concise here and save details (for example detailed financial statements, financial metrics, key assumptions used for the projections) for the appendix instead.

Your financial projections should answer at least the following questions:

  • How much revenue do you expect to generate over the next 5 years?
  • When do you expect to break even?
  • How much cash will you burn until you get there?
  • What’s the impact of a change in pricing (say 20%) on your margins?
  • What is your average customer acquisition cost?

You should include here your 3 financial statements (income statement, balance sheet and cash flow statement). This means you must forecast:

  • The number of vehicles you sell over time ;
  • Your expected revenue ;
  • Operating costs to run the business ;
  • Any other cash flow items (e.g. capex, debt repayment, etc.).

When projecting your revenue, make sure to sensitize pricing and the number of customers as a small change in these assumptions will have a big impact on your revenues.

car broker business plan

7. Funding Ask

This is the last section of the business plan of your car dealership. Now that we have explained what type of vehicles your company sells to whom and at what price, but also what’s your marketing strategy, where you go and how you get there, this section must answer the following questions:

  • How much funding do you need?
  • What financial instrument(s) do you need: is this equity or debt, or even a free-money public grant?
  • How long will this funding last?
  • Where else does the money come from? If you apply for a SBA loan for example, where does the other part of the investment come from (your own capital, private investors?)

If you raise debt:

  • What percentage of the total funding the loan represents?
  • What is the corresponding Debt Service Coverage Ratio ?

If you raise equity

  • What percentage ownership are you selling as part of this funding round?
  • What is the corresponding valuation of your business?

Use of Funds

Any business plan should include a clear use of funds section. This is where you explain how the money will be spent.

Will you spend most of the loan / investment to acquire the cost for the inventory (the vehicles)? Or will it cover mostly the cost of buying the land and building the store?

Those are very important questions you should be able to answer in the blink of an eye. Don’t worry, this should come straight from your financial projections. If you’ve built solid projections like in our car dealership financial model template , you won’t have any issues answering these questions.

For the use of funds, we recommend using a pie chart like the one we have in our financial model template where we outline the main expenses categories as shown below.

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How to write a business plan for a car dealership?

car dealership business plan

Whether you are starting up a new dealership or looking to grow and improve the profitability of an existing one, having a well-crafted and comprehensive business plan is essential.

In this guide, we will cover why it's important to write a business plan for your car dealership, what information you need to include in it, the structure and format of such plans, as well as the tools that can help you create one quickly and easily. 

With these resources at hand, you'll be able to confidently start or grow your own car dealership with success!

In this guide:

Why write a business plan for a car dealership?

  • Information needed to create a business plan for a car dealership
  • What goes into your car dealership's financial forecast?
  • The written part of a car dealership business plan
  • What tool should I use to write my car dealership business plan?

Writing a business plan for your car dealership forces you - the entrepreneur - to think critically about your objectives over the next 3 to 5 years, and create actionable plans to achieve them. 

The business plan, therefore, serves as the roadmap for the expansion of your car dealership.

Once the plan is in place, you can compare your financial performance to what was planned and recalibrate your financial forecast as time goes by in order to maintain visibility on your future cash flows.

This process is crucial in helping you ensure that you know where the business is headed and have sufficient capital to fund operations and expansion.

Additionally, having a comprehensive car dealership business plan is mandatory if you need to attract potential investors (or lenders) who can provide vital capital to accelerate growth. 

Investors will be looking for evidence that investing in your car dealership can generate a good return on investment. Therefore, they will want to see healthy growth, profitability and cash generation outlined clearly in the business plan.

Similarly, banks will use this document to assess whether or not you have what it takes to repay their loan and ensure that your dealership succeeds. 

Now that we know why writing the business plan matters, let’s have a look at the information needed to assemble it.

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car dealership business plan online

What information is needed to create a business plan for a car dealership?

Carrying out market research for your car dealership.

Carrying out market research is an essential step prior to drafting any car dealership business plan.

It helps identify target markets and understand customer needs, and allows you to evaluate the competitive landscape and develop strategies for positioning your dealership in a way that will give it a competitive edge in the marketplace. 

Having this data is key in order to accurately forecast potential revenues, and to present a compelling commercial opportunity in the written presentation of your business plan.

Developing the marketing plan of your car dealership

Creating a sales and marketing plan is another prerequisite that ensures that your financial forecast includes an accurate budget for sales and marketing expenses. 

This budget should include specific details regarding costs associated with advertising, promotions, sponsorships, and incentives in order to maximize the dealership’s sales. 

The staff and equipment required for your car dealership

Comprehensive recruitment and investment plans also need to be outlined prior to writing your business plan as they will be needed when creating your financial forecast. 

You will need to think thoroughly about how many staff members are required for the business to operate and what equipment will need to be purchased, and cost it all as accurately as possible.

Once you have gathered the necessary information for creating a business plan for your car dealership, it is time to move on to developing the financial forecast. 

What goes in the financial forecast for a car dealership?

The financial forecast of a car dealership includes a Profit and Loss (P&L) statement, a Balance Sheet, a Cash Flow Statement, and Sources and Uses table. 

Let’s have a look at each of these financial tables in a bit more detail.

The projected P&L statement of your car dealership

The projected P&L statement for a car dealership shows how much growth and profit are expected in the years to come. 

example of projected profit and loss statement in a car dealership business plan

The projected balance sheet of your car dealership

The balance sheet is an important financial report that provides insight into the overall financial health of a car dealership. 

It includes all assets owned by the dealership, such as cars, inventory, buildings and equipment, as well as liabilities such as accounts payable, loans and other debt. 

This document gives an overview of what the company owns and owes at any given time, and how much your equity is worth.

The balance sheet is especially useful for lenders and investors, who want to understand the solvability and liquidity of the car dealership. It provides insight into how much money is available to pay creditors or invest in new projects. 

For example, if there are more liabilities than assets on the balance sheet, it could signal that the business is over-leveraged or that there is a need for more capital. 

On the other hand, if there are more assets than liabilities, the dealership may have enough money to invest in new projects and give lenders peace of mind.

For car dealership owners, the balance sheet can be used to identify potential risks, gauge financial performance and make plans for future growth. It provides an overall picture of the dealership’s financial health and can help owners understand if their business is on track or needs to be improved. 

projected balance sheet in a car dealership business plan

The projected cash flow statement of your car dealership

A forecasted cash flow statement for a car dealership is a document that shows how money comes in and out of the business. 

It is useful because it helps people understand how much money the dealership makes and spends, which helps make decisions about financing. 

car dealership business plan: cash flow forecast

The initial financing plan

An initial financing plan is like a money map that shows where the money at the beginning of your car dealership business plan will come from and how it will be used. 

It is important to have an initial financing plan when starting a car dealership so you can make sure you have enough money to cover all of your initial investments. 

The plan should include information such as the total cost, who will provide the funds, what kind of loans or investments are needed, and other sources of capital such as grants or credit from suppliers. 

Having this information in advance helps ensure that there are no financial surprises down the road.

car dealership business plan: sources and uses of funds

Now that you have a better idea of what goes in the financial forecast for your car dealership, it is time to look at what goes in the written presentation which provides the context needed to understand how these projections were made and how they fit into the larger picture.

The written part of a car dealership plan

 The written part of a car dealership plan is composed of the 7 main sections:

  • The executive summary
  • The presentation of the company
  • The products and services section
  • The market research analysis
  • The strategy section
  • The operations section
  • The financial plan

Let’s dive into each section!

1. The executive summary

The executive summary of a car dealership plan should include the following key points: business overview, market overview, key financials, and the “ask” i.e. how much funding is required. 

The business overview section should provide an overall description of the business, including its vision and objectives. 

This includes information about the size of the dealership, type of vehicles sold, and any unique features the dealership may offer. 

The market overview should include information about the size of the addressable market, current trends in the vehicle industry, and how the car dealership’s offerings intend to meet customer demand. 

Next come the key financial highlights where you will include a brief description of the dealership’s financial situation and any expected future profits or losses. 

Finally, the “our ask” section should include a thorough explanation as to what you are looking for from the reader of your plan. It is also important to detail how these funds will be used and what kind of return on investment can be expected. 

2. The presentation of the company

The presentation of the company should start with detailed information about the structure and ownership of the company. 

You should clearly explain what legal entity has been created to run the business, and who owns what percentage. 

Additionally, it is important to state the exact location of the dealership, as well as give details about the management team that will be responsible for the day-to-day operations and implementation of the business plan. 

3. The products and services section

When writing the products and services section of a car dealership's business plan, it is important for you - the business owner - to provide detailed information about the types of vehicles you offer, along with any additional services such as repairs or financing. 

The goal of this section should be to show potential investors or lenders that customers will have access to quality cars, parts and service at competitive prices.

The type of vehicles offered by the car dealership should be clearly outlined in the business plan. This includes identifying which makes and models are available, as well as whether used cars are also sold. 

It is also helpful to include information on who supplies these vehicles so investors can assess their reliability and reputation in the marketplace. 

Additionally, if there are special features that make certain vehicle models stand out from competitors, those details should be included in this section as well.

a range of cars, each one displayed pristinely: illustration for the products and services section of the business plan

4. The market analysis

The presentation of your market analysis should include information about demographics and segmentation, target markets, competition, barriers at entry, and regulation. 

This will help provide potential investors or banks with an understanding of the size of the local market and how your car dealership is best positioned to capture market share.

The demographics and segmentation section will focus on the demand side, explaining how many customers are in the local market and what their expectations and preferences are.

In the target market section you will explain who you are targeting and why your offering fits the needs of these customers.

The competition part will focus on your competitors and you will explain how and why customers will prefer your dealership over theirs.

You will then explain what barriers at entry exist on the market, if any. This could include licensing requirements with car manufacturers or an important upfront investment to enter the market.

5. The strategy section

When crafting the strategy section of your car dealership's business plan, you should focus on the following key elements in order to appeal to potential investors or lenders: competitive edge, pricing strategy, marketing plan, milestones and risks and mitigants.

Having a unique competitive edge is essential for success in any competitive industry. This could include offering special promotions or services that are not available from competitors.Or you could benefit from territorial exclusivity with a car manufacturer preventing other competitors from selling the same vehicles you offer. 

A clear pricing strategy should also be outlined as well which details how prices will be set and adjusted over time based on market conditions. 

Your marketing plan will then outline how customers will learn about the dealership’s offerings and how customer loyalty can be maintained over time. 

Finally, you should outline achievable milestones as well as strategies for dealing with potential risks or issues that may arise during operations. 

Addressing these topics within the strategy section of your business plan will help demonstrate to lenders and investors your knowledge of the industry as well as show the steps you’ve taken to reduce risk associated with running your business.

6. The operations section

The operations section of your car dealership business plan should include detailed information about the staffing team and roles of staff members, recruitment plan, opening hours, key assets and intellectual property that the business needs to operate, as well as the suppliers it plans to work with.

When detailing the staffing team and roles of staff members, the plan should include information about the number of employees, their job titles and descriptions, as well as any qualifications needed for each position. 

Additionally, it should include a recruitment plan that outlines how new staff members will be hired and onboarded into the business.

The operations section should also outline the opening hours of the dealership: when it opens and closes, as well as any special operating hours for specific services. 

Furthermore, the plan should include information about key assets and property needed to run the business, such as a dealership license, customer databases, technology platforms or software licenses. Finally, it should list all of its suppliers that are critical to the running of the dealership.

By having a comprehensive operations section, the business owner can show potential lenders or investors that they have planned ahead and are well-prepared to successfully run their dealership. 

7. The presentation of the financial plan

The financial plan section is where you will show the financial forecast that we talked about before. 

Now that we have an understanding of the content a car dealership business plan should include, let's take a look at the tools and resources available to help us create one. 

What tool should I use to write my car dealership's business plan?

In this section, we will review the different solutions for creating a business plan for your car dealership, including using Word and Excel, hiring a consultant or using an online software.

Create your car dealership's business plan using Word or Excel

Using Excel and Word to write a car dealership business plan can be an effective solution for some, but it should not be the first choice. 

While Excel is cheap, creating a financial forecast without expert accounting knowledge is challenging to say the least. Creating a financial forecast on excel is often long and tedious and difficult to keep updated.

Using Word can help to create a plan from scratch, but it is time consuming as you have to start from a blank page and it requires hours of formatting the document once written. 

Hire a consultant to write your car dealership's business plan

Outsourcing your car dealership business plan to a consultant or accountant is another potential solution. 

Consultants are experienced in writing such plans and accountants are knowledgeable about creating financial forecasts that are accurate and free from errors though they may lack the industry expertise to forecast sales with precision.

The main drawback of outsourcing a plan though is the steep cost. Budget at least $2,000 (or £1,500) for a first iteration, more if revisions are needed after initial meetings with lenders and investors.

Overall, this is a good solution if you need your plan fast and are trying to raise a significant amount of capital.

Using a business plan software to write your car dealership business plan 

Another alternative is to use online business plan software . There are several advantages to using specialized software:

  • You are guided through the writing process by detailed instructions and examples for each part of the plan
  • You can be inspired by already written business plan templates
  • You can easily make your financial forecast by letting the software take care of the financial calculations for you without errors
  • You get a professional document, formatted and ready to be sent to your bank
  • The software will enable you to easily track your actual financial performance against your forecast and update your forecast as time goes by

If you're interested in using this type of solution, you can try our software for free by signing up here .

We hope that this article has helped you to better understand how to write the business plan for a car dealership. If you still have questions, do not hesitate to contact us.

Also on The Business Plan Shop

  • Car wash business plan template
  • How to write a business plan for a car rental company?

Know someone in the car dealership industry? Share this article with them!

Guillaume Le Brouster

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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Car Dealership Business Plan

car broker business plan

A car dealership is a company that sells new or used vehicles to the general public under the terms of a dealership agreement with a carmaker or its sales subsidiary. Car dealerships are rewarding because they are connected to both the wholesale and retail markets.

Are you looking to start writing a business plan for your car dealership business? Creating a business plan is essential to starting, growing, and securing funding for your business. We have prepared a car dealership business plan template for you to help in start writing yours.

sample business plan

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

  • Fill in the blanks – Outline
  • Financial Tables

How to Write a Car Dealership Business Plan?

Writing a car dealership business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire business plan is ready. Here are some components to add to your summary:

Start with a brief introduction:

Market opportunity:, mention your services:, management team:, financial highlights:, call to action:.

Ensure you keep your executive summary concise and clear, use simple language, and avoid jargon.

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2. Business Overview

Depending on what details of your business are important, you’ll need different elements in your business overview. Still, there are some foundational elements like business name, legal structure, location, history, and mission statement that every business overview should include:

About the business:

Provide all the basic information about your business in this section like:

  • The name of the car dealership business and the concept behind it: new car dealership, used car dealership, small car dealership, luxury car dealership, private seller, online retailer, or something else.
  • Company structure of your car dealership business whether it is a sole proprietorship, LLC, partnership firm, or others.
  • Location of your car dealership and the reason why you selected that place.

Mission statement:

Business history:, future goals:.

This section should provide an in-depth understanding of your car dealership business. Also, the business overview section should be engaging and precise.

3. Market Analysis

Market analysis provides a clear understanding of the market in which your car dealership business will run along with the target market, competitors, and growth opportunities. Your market analysis should contain the following essential components:

Target market:

Market size and growth potential:, competitive analysis:, market trends:, regulatory environment:.

Some additional tips for writing the market analysis section of your business plan:

  • Use a variety of sources to gather data, including industry reports, market research studies, and surveys.
  • Be specific and provide detailed information wherever possible.
  • Include charts and graphs to help illustrate your key points.
  • Keep your target audience in mind while writing the business plan.

4. Products And Services

The product and services section of a car dealership business plan should describe the specific services and products that will be offered to customers. To write this section should include the following:

List the product and services:

  • Create a list of the services that your car dealership will offer, which may luxury cars, new cars, used cars, maintenance, repairs, etc.
  • Describe each product and service: For each service, provide a detailed description of what it entails, and the qualifications of the professionals who will provide the service.

Emphasize safety and quality:

Overall, a business plan’s product and services section should be detailed, informative, and customer-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Develop your unique selling proposition (USP):

Determine your pricing strategy:, marketing strategies:, sales strategies:.

Overall, the sales and marketing strategies section of your business plan should outline your plans to attract and retain customers and generate revenue. Be specific, realistic, and data-driven in your approach, and be prepared to adjust your strategies based on feedback and results.

6. Operations Plan

When writing the operations plan section, it’s important to consider the various aspects of your business processes and procedures involved in operating a business. Here are the components to include in an operations plan:

Hiring plan:

Operational process:, inventory management:.

By including these key elements in your operations plan section, you can create a comprehensive plan that outlines how you will run your car dealership business.

7. Management Team

The management team section provides an overview of the individuals responsible for running the car dealership business. This section should provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

Key managers:

Organizational structure:, compensation plan:, board of advisors:.

Describe the key personnel of your company and highlight why your business has the fittest team.

8. Financial Plan

When writing the financial plan section of a business plan, it’s important to provide a comprehensive overview of your financial projections for the first few years of your business.

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:, financing needs:.

Remember to be realistic with your financial projections, and to provide supporting evidence for all of your estimates.

9. Appendix

When writing the appendix section, you should include any additional information that supports the main content of your plan. This may include financial statements, market research data, legal documents, and other relevant information.

  • Include a table of contents for the appendix section to make it easy for readers to find specific information.
  • Include financial statements such as income statements, balance sheets, and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
  • Provide market research data, such as statistics on the size of the industry, consumer demographics, and trends in the industry.
  • Include any legal documents such as permits, licenses, and contracts.
  • Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
  • Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your car dealership business should only include relevant and important information that supports the main content of your plan.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

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This car dealership business plan sample will provide an idea for writing a successful business plan, including all the essential components of your business.

After this, if you are still confused about how to write an investment-ready business plan to impress your audience, then download our car dealership business plan pdf .

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Frequently asked questions, why do you need a car dealership business plan.

A business plan is essential for anyone looking to start or run a successful car dealership. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your car dealership business.

How to get funding for your car dealership business?

There are several ways to get funding for your car dealership business, but one of the most efficient and speedy funding options is self-funding. Other options for funding are:

  • Bank loan – You may apply for a loan in government or private banks.
  • Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
  • Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your car dealership, usually online.
  • Angel investors – Getting funds from angel investors is one of the most sought options for startups.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your car dealership business?

There are many business plan writers available, but no one knows your business and idea better than you, so we recommend you write your car dealership business plan and outline your vision as you have in your mind.

What is the easiest way to write your car dealership business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any car dealership business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

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Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Benefits of Starting Your Own Firm

Before you get started, creating your firm, registering with regulatory bodies, submitting application forms, developing professional legitimacy, drafting policy requirements, other considerations, the bottom line.

  • Financial Advisor
  • Practice Management

Steps to Starting Up an Independent Broker-Dealer

car broker business plan

If you want to become a  broker-dealer , you can either join an existing firm or start your own company. If you choose to work for someone, you may be investing in a management team in which you know very little. Although the workload will likely be more manageable, you'll have less control over the organization and direction of the company.

There are many benefits to starting your own firm, though you should be aware of what's involved. Much like investing in your own startup , a new investment firm requires a lot of work, time, patience, and money. On one hand, you'll have control over the firm; on the other, it's a riskier endeavor that requires much more work.

If you've decided an independent firm is the way to go, here's some guidance on what's involved in achieving and growing a successful broker-dealer firm .

Key Takeaways

  • Opening your own broker-dealer firm can be a rewarding and challenging venture.
  • Ask yourself whether you can afford to sacrifice the capital needed.
  • You'll need to demonstrate experience, line up principals, and file the necessary forms in order to be approved.

Like any other venture, there are some obvious benefits to going into business for yourself as a broker-dealer. First, there's the absence of bureaucracy that comes with working for someone else. Bureaucracies often lead to more formal and rigid systems that leave little room for innovation, putting rules in place that companies must adhere to strictly.

With your own firm, there's also the potential for significant wealth. You'll eventually need to decide what types of fees you wish to charge. If you decide to take a percentage of assets under management, you'll need a scalable business model, experienced management personnel, and solutions to attract and retain clients. While your income may be capped when working for a firm, there's often greater potential running your own.

If you have sufficient capital, you can decide to acquire an existing operation instead of starting a new firm. Though everything may be organized exactly how you'd like, there is the benefit of having a head start on registrations, market presence, staffing, and operations.

Before you start your own broker-dealer firm, there are several questions worth asking to ensure you're on the correct path to creating a successful firm. These questions include but aren't limited to:

  • Do you have sufficient upfront capital to cover start-up costs and fund initial investments?
  • Do you want to acquire an existing firm or create one anew?
  • Are you able to satisfy the registration requirements specific to your geographical location?
  • Who from within your network can help start your firm? These individuals don't necessarily need to be traders or financial advisors.

If you've decided to acquire an existing broker-dealer firm, many of these requirements will already have been satisfied.

If you are starting your own broker-dealer firm and will not operate your company as a sole proprietorship, you must register your firm as an independent company to limit your personal liability. Some of these requirements include (and are discussed more in-depth later in this article):

  • Filing for required business licenses: You must obtain the required licenses from both your local and state regulatory bodies.
  • Opening a company bank account: This account must be separate from any personal accounts, though you may deposit initial investment capital from your personal wealth.
  • Create an operating agreement: An operating agreement outlines the business's financial and functional rules as well as company ownership, member duties, and other administrative delegations. California, Maine, Missouri, and New York legally require new LLCs to keep an operating agreement.
  • Develop contracts with clearing agents: These clearing agents ensure trades settle appropriately and transactions are successful.
  • File necessary regulatory forms:   Financial Industry Regulatory Authority (FINRA) requirements are discussed below.

Prior to operations, your broker-dealer firm must be registered with several regulatory bodies. In addition to the agencies below, there may be governing bodies specific to your location that have their own requirements.

The broader regulatory agencies to register with include but are not limited to:

  • Self-regulatory organizations (SROs)
  • The  Securities and Exchange Commission (SEC)
  • The  Securities Investor Protection Corporation (SIPC)
  • The  Financial Industry Regulatory Authority (FINRA)
  • FINRA's Central Registration Depository (CRD)
  • FINRA's Investment Advisor Registration Depository (IARD)

Once approved by FINRA, you must become a member of a self-regulatory organization (SRO) before your order granting registration goes into effect.

There's a ton of paperwork to file as part of the process of setting up a broker-dealer firm. FINRA outlines a number of requirements. As part of the application process, the forms you must file include but are not limited to the following:

  • Form BD (Broker Dealer): This describes the classification of the business, which states you'll be registered in, and what key external relationships have been created up to this point in the company's formation.
  • Form NMA (New Member Agreement): Often the most strenuous form, this outlines policies, procedures, vendor agreements, LOIs, and specific details about the company.
  • Form BR (Branch Registration): This is a short form outlining the company's offices.
  • Form U4: This form is filed for each employee of the firm. The form outlines their role in the company, their employment history, their professional registrations, and any disciplinary record.

Fingerprinting

No, it's not a TV episode of a crime drama. Every employee for whom you file a U4 must be fingerprinted.

If you've made it this far, chances are you know what you're doing. However, you must demonstrate proficiency in order to land clients and retain them.

When developing your broker-dealer firm, don't underestimate the value of marketing, branding, and an online presence. Consider which social media platforms will provide your firm with the greatest exposure. Be prepared to distribute marketing and promotional materials to prospective clients.

On the more technical side, consider applying for a variety of broker dealer exams. There are several required credentials in order to obtain your broker-dealer license including successful completion of the following:

  • Series 7 exam (a prerequisite for the Series 24 exam)
  • Securities Industry Essentials (SIE) (a prerequisite for the Series 24 exam)
  • Series 24 exam (General Securities Principal)
  • Series 27 exam (Financial and Operations Principal)

Broker-Dealer License

Broker-dealers are required to hold several credentials, and some credentials have prerequisite exams.

In addition, if you wish to sell additional securities or demonstrate further competency to prospective clients, consider pursuing additional exams.

Broker-dealers are required to assemble and maintain a variety of policies. Several policies include but are not limited to:

  • Anti-Money Laundering Policy: This outlines the steps for vetting customers and monitoring client activity to ensure money laundering does not occur within your firm. This policy must be audited by an independent external auditor each year.
  • Business Continuity Plan: This outlines how the company will operate during unforeseen crises or events.
  • Continuing Education Plan: This outlines how the company will make sure all staff are up-to-date with the most recent compliance and regulation requirements.
  • Employee Trading Policy: This outlines what activities employees are allowed to engage in outside of work in addition to what the firm will do to monitor this activity.

Broker-dealers are held to a high standard regarding record retention. Firms are required to maintain key data, documents, and a variety of support for many years. In addition, the data must be stored in a specific format and easily distributable to FINRA upon request. Trading data, as well as e-mail and communication data, must be retained.

Broker-dealer firms are required to maintain a fidelity bond. The fidelity bond acts as an insurance policy in excess of the firm's net capital requirement. Broker-dealer firms are also required to have their finances audited annually by a Public Company Accounting Oversight Board-accredited accounting firm.

Net Capital Requirements

FINRA implements net capital requirements that a broker-dealer must have on hand to remain in good standing. The net capital requirements vary based on the company's specific business lines.

Broker-dealers usually implement compliance software solutions. These solutions automatically track and maintain reporting requirements, issue deadline and compliance reminders, and monitor employee trading accounts.

FINRA requires all broker-dealers to designate a Chief Compliance Officer (CCO) to ensure company-wide compliance and regulation. FINRA also requires firms to have a Financial and Operational Principal (FinOp) (via the Series 27 exam) to compile reporting and accounting statements. These positions may be outsourced.

How Long Does It Take to Set Up a Broker-Dealer Firm?

Once you submit your application to FINRA, FINRA must review and process your application within 180 days. It may take a substantial amount of time to accumulate and organize all information required as part of the application process.

Is It Difficult to Become a Broker-Dealer?

The application process to be an independent broker-dealer is arduous. In addition to long application forms, there are a number of requirements that must be met before your firm begins operating, in addition to a number of requirements that must be met once your firm has clients.

How Do I Become an Independent Broker?

There are many requirements to becoming an independent broker-dealer. A great starting place is forming your business. Pursue the appropriate business licenses for your local and state governing bodies. Then, consider pursuing memberships to the various required regulatory bodies, like FINRA and the SEC.

All of this information is likely overwhelming. FINRA has a reputation for ongoing requests for documentation and constant back-and-forth communication. However, if you get through the approval process and then plan your work and work your plan, the potential rewards for a successful  broker-dealer firm are high.

Maine Legislature. “ Title 31: Partnerships and Associations .”

New York State. “ Forming a Limited Liability Company in New York .”

California Secretary of State. “ Starting a Business – Entity Types .”

Missouri Secretary of State. “ Missouri Small Business Startup Guide .”

Investor.gov. “ The Laws That Govern the Securities Industry .”

Securities Investor Protection Corporation. “ What SIPC Protects .”

Financial Industry Regulatory Authority. “ Central Registration Depository (CRD) .”

Financial Industry Regulatory Authority. “ Standards for Admission .”

Financial Industry Regulatory Authority. “ Qualification Exams .”

Financial Industry Regulatory Authority. “ Frequently Asked Questions (FAQ) Regarding Anti-Money Laundering (AML) .”

Financial Industry Regulatory Authority. “ Business Continuity Planning (BCP) .”

Financial Industry Regulatory Authority. “ Continuing Education (CE) .”

Financial Industry Regulatory Authority. “ Content Outline for the S201 Regulatory Element Program ,” Page 11.

Financial Industry Regulatory Authority. “ Books and Records .”

Financial Industry Regulatory Authority. “ 4360. Fidelity Bonds .”

Public Company Accounting Oversight Board. “ Section 3. Auditing and Related Professional Practice Standards .”

Financial Industry Regulatory Authority. “ FINRA Cybersecurity Advisory - SEC Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public Companies (Exchange Act Release No. 97989) .”

Financial Industry Regulatory Authority. “ FINRA Reminds Member Firms of the Scope of FINRA Rule 3110 as it Pertains to the Potential Liability of Chief Compliance Officers for Failure to Discharge Designated Supervisory Responsibilities .”

Financial Industry Regulatory Authority. “ FINRA Qualification and Registration Requirements Frequently Asked Questions .”

Financial Industry Regulatory Authority. “ How to Become a Member - Membership Application Time Frames .”

Investor.gov. “ The Laws That Govern the Securities Industry ."

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How to Start an Insurance Company

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Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

1. Become a licensed insurance agent

2. write a business plan, 3. choose a business structure, 4. register and license your business, 5. get business insurance, 6. form relationships with insurance companies, 7. grow your client base.

Starting an insurance agency is a lot like starting any business . You’ll need to choose a business structure, register and license your business, get insurance and more.

But you’ll also need to become a licensed insurance agent and learn how to navigate a highly regulated field.

Here’s how to get started.

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Tell us where you're at in your business journey, and we'll direct you to the experience that fits.

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You can get an insurance agent license in a matter of weeks or months, depending on the requirements in your state. Here are the steps to follow:

Learn about your state’s licensing process. The National Insurance Producer Registry or your state’s branch of the Independent Insurance Agents and Brokers of America can help you understand those specific requirements.

Decide what type of insurance to sell. You can be licensed to sell several different “lines of authority” or types of insurance. The most extensive lines of authority include:

Accident and health or sickness.

The names of these lines of authority may differ in your state. You can be licensed to sell multiple lines of authority. Life and health are often offered as one package, as are property and casualty.

In general, most types of business insurance are property or casualty policies. With a property and casualty license, you can sell personal and commercial insurance . Most agents choose to specialize in one or the other, though.

Take a pre-licensing class. Your coursework should focus on the type of insurance you choose to specialize in. Courses can be done in person or online in most states.

Schedule your licensing exam. These are usually administered at testing centers run by third-party testing companies, which may immediately inform you of the results.

Apply for your license. Submit your licensing application to your state’s governing body. You’ll need to provide personal information, such as your Social Security number, date of birth and residency information, and pay any applicable fees. If your application is approved, you’ll be able to sell insurance products.

If you’re new to selling insurance, you may want to get some experience working for an insurance company or another brokerage before venturing out on your own.

How much do you need?

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We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Your business plan outlines what you want your business to look like and how you plan to get there. The process of writing it should force you to answer complex questions, like what unique value you’ll offer customers and how much money you’ll need to get started.

» MORE: NerdWallet's picks for the best business plan software

Your business structure determines how your business profits are taxed and how your personal and business assets are kept separate, among other things.

There’s also an insurance-specific question you’ll need to answer: Whether you want your insurance agency to work with one specific insurer or with many different providers.

Captive agents (agents who work with a particular insurance company) can benefit from brand recognition and don’t have to convince insurers to work with them. But, on the other hand, they can only sell a limited suite of insurance policies. For example, State Farm works with a network of independent contractor agents who run their agencies but only sell State Farm products.

Many other insurance agency owners are independent agents, selling products from multiple insurance companies. Independent agents might have to work harder to establish and market their brand to customers and insurers, but they can start relationships with many insurance providers.

Before running your business, you’ll need to register with your state, typically with the secretary of state’s office.

Most insurance businesses will probably need to apply for an employer identification number from the IRS. With an EIN, you can open a business checking account .

As part of this process, make sure to obtain a business license, a sales tax permit and any other documents your state or city requires.

Your business entity may also need a license from your state's insurance department. Check your state’s requirements to find out what you need.

» MORE: Everything you need to do to start a business

As an insurance agent, you already know how important it is for your customers to be fully insured. Get business insurance to protect your business assets.

Most insurance companies are likely to need professional liability insurance and general liability insurance . Depending on your agency’s size, location and day-to-day activities, you may also need commercial auto insurance, workers’ compensation insurance and other types of business insurance.

If you’re an independent agent, you’ll need to apply to work with any insurance companies whose products you want to sell. If they approve your application, they’ll grant you an appointment to sell their policies.

It can be challenging to start relationships with insurance companies directly without having several years of experience and a client base.

Joining a professional association, like the Independent Insurance Agents and Brokers of America, or an agent network like Smart Choice, can help you access insurance providers to sell their policies. These groups may also provide marketing materials, discounts on your business insurance policies, and other resources.

If you choose to start an independent agency, you may have to hustle for your first few clients. Start by joining your local Chamber of Commerce, attending networking events and advertising in your local market.

Having an online presence is essential, too. Make sure your website clearly outlines what kinds of insurance you sell and the customers you serve. Information about how to contact you should be easy to find.

If you start an agency affiliated with a particular insurance company, you might get referrals as customers seek out agents near them. However, you’ll probably need to do local marketing too.

On a similar note...

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Insurance Agency Business Plan Template

Written by Dave Lavinsky

Growthink Insurance Agency Business Plan

Over the past 20+ years, we have helped over 3,000 entrepreneurs and business owners create business plans to start and grow their insurance agencies. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an insurance agency business plan template step-by-step so you can create your plan today.

Download our Ultimate Insurance Business Plan Template here >

What is an Insurance Agency Business Plan?

A business plan provides a snapshot of your insurance agency as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for an Insurance Agency

If you’re looking to start an insurance agency or grow your existing insurance agency you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your insurance agency in order to improve your chances of success. Your insurance agency business plan is a living document that should be updated annually as your agency grows and changes.

Source of Funding for Insurance Agencies

With regards to funding, the main sources of funding for an insurance agency are personal savings, credit cards, bank loans, and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate the business.

The second most common form of funding for an insurance agency is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund an insurance agency unless it is based on a unique, scalable technology.

Finish Your Business Plan Today!

Your insurance agency business plan should include 10 sections as follows:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of insurance agency business you are operating and the status; for example, are you a startup, do you have an insurance agency that you would like to grow, or are you operating multiple insurance agency locations already.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the insurance agency industry. Discuss the type of insurance agency you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of insurance agency you are operating.

For example, you might operate one of the following types:

  • Direct Writer / Captive : this type of insurance agency only sells one insurance company’s products – like Allstate or State Farm
  • Independent Insurance Agent : this type of insurance agency is privately-owned, and sells policies with may different insurance companies

In addition to explaining the type of insurance agency you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new location openings, etc.
  • Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the insurance business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the insurance industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards weather-related policy purchases, it would be helpful to ensure your plans call for flood insurance options.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your insurance company business plan:

  • How big is the insurance agency business (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key insurance carriers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential market for your insurance agency. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your insurance agency business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, households, businesses, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of insurance agency you operate. Clearly baby boomers would want different pricing and product options, and would respond to different marketing promotions than recent college graduates.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most insurance agencies primarily serve customers living in their same geographic region, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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With Growthink’s Ultimate Insurance Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other insurance agencies.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. This includes self pay and public (Medicare, Medicaid in the case of health insurance) insurance or directly working with an insurance carrier. You need to mention such competition to show you understand that not everyone who purchases insurance does so through an insurance agency.

With regards to direct competition, you want to detail the other insurance agencies with which you compete. Most likely, your direct competitors will be insurance agencies located in your geographic region.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

  • What types of customers do they serve?
  • What products do they offer?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide superior insurance agency products/services?
  • Will you provide insurance agency products that your competitors don’t offer?
  • Will you make it easier or faster for customers to acquire your products?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an insurance agency business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of insurance agency that you documented in your Company Analysis. Then, detail the specific products/services you will be offering. For example, in addition to P&C insurance, will you also offer life insurance?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the menu items you offer and their prices.

Place : Place refers to the location of your insurance agency. Document your location and mention how the location will impact your success. For example, is your insurance agency located next to the Department of Motor Vehicles, or a heavily populated office building, etc. Discuss how your location might provide a steady stream of customers.

Promotions : the final part of your insurance agency marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

  • Making your insurance agency’s front store extra appealing to attract passing customers
  • Advertising in local papers and magazines
  • Reaching out to local bloggers and websites
  • Partnerships with local organizations (e.g., auto dealerships or car rental stores)
  • Local radio advertising
  • Banner ads at local venues

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your insurance agency such as serving customers, procuring relationships with insurance carriers, negotiating with repair shops, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to acquire your 500th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your insurance agency’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the insurance agency business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in insurance agencies and/or successfully running small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you acquire 20 new customers per month or 50? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your insurance agency location and/or website, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing an insurance agency:

  • Location build-out including design fees, construction, etc.
  • Marketing expenses
  • Website development
  • Payroll or salaries paid to staff
  • Business insurance
  • Taxes and permits
  • Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

Insurance Business Plan Summary

Putting together a business plan for your insurance agency is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the insurance agency business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful insurance agency.

Download Our Insurance Business Plan PDF

You can download our insurance business plan PDF here . This is a business plan template you can use in PDF format.

Insurance Business Plan FAQs

What is the easiest way to complete my insurance business plan.

Growthink's Ultimate Insurance Business Plan Template allows you to quickly and easily complete your Insurance Business Plan.

Where Can I Download an Insurance Business Plan PDF?

You can download our insurance business plan PDF template here . This is a business plan template you can use in PDF format.

Don’t you wish there was a faster, easier way to finish your Insurance business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to learn about Growthink’s business plan writing services .

Other Helpful Business Plan Articles & Templates

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Used Auto Sales Business Plan

Start your own used auto sales business plan

Integrity Auto Sales

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, auto sales & parts.

There is a need in Lane County for a large selection of quality used cars, and Integrity Auto Sales will sell these top-quality used vehicles at a competitive price. The owner and sales manager have over 30 years of combined experience in new and used auto sales. We will continue to develop our excellent working relationship with local dealers and auctions to bring the savings to the customer.

We will create a purchasing environment that caters to the customer’s needs. We are selling a professional service and an experience in car buying that will bring customers back again, as well as referring friends and family. We estimate an optimistic gross margin over the industry average. We will be successful because of the excellent team we have assembled and the drive and determination of the owners.

Almost everyone needs a car to get from point A to B. Many families have two or more cars. Due to the recent success of the new car market, there is a large inventory of used cars available for re-sale. New car sales have enjoyed the largest single month gain in October up 24%.

Competition

Used car dealers are notorious for unethical sales practices. Customers are inherently cautious and untrusting as a result. The more we can provide a high-quality sales experience, the more successful we will be. Our salesmen will provide a friendly and personal experience for the buyer. We will follow up and ensure customer satisfaction. We will rely on these customers for an excellent reference to other car buyers. This company will build an excellent working relationship with our suppliers and customers.

Integrity Auto Sales provides a unique car buying experience to the customers in the Willamette Valley. One that focuses on customer satisfaction first. We understand that vehicle purchasing is a necessary, but sometimes unpleasant experience. Our goal is to provide the customer with an enjoyable, honest service by satisfying individual customers practical transportation needs with a quality product.

We also believe it is important to have quality vehicles at a low cost, and will back each vehicle with a 30 day limited warranty. Our company will make a profit by generating sales. It will provide job satisfaction and fair compensation to its employees, and a fair return to its owners. Hard work and performance is rewarded through bonuses and commissions. Job satisfaction is very important for employees and owners, we will create a work environment that is enjoyable and profitable for all.

Expectations

  • Growth will be moderate to good, cash flows steady with several months of loss in the beginning
  • Marketing will remain below 10% of sales. 
  • The company will invest residual profits (10%) into financial markets and approximately 50% into company expansion for the first year.

Financial Highlights by Year

Financing needed.

We need $130,000 funding to start. That includes a $100,000 loan. Jonathan will invest $20,000 and Don will invest $10,000. 

Opportunity

Problem & solution, problem worth solving, our solution, target market, market size & segments.

Almost everyone needs a car to get from point A to B. Many families have two or more cars. Due to the recent success of the new car market, there is a large inventory of used cars available for re-sale. New car sales have enjoyed the largest single month gain in October 2001, up 24%.

4.1 Market Segmentation

Our market segmentation will consist of four basic segments; students, retired, families, and singles.

Current Alternatives

Our closest, similar competitors are AA Auto Sales, Big Apple Car Sales, Frank’s Auto Place, Guaranty, R & L Motors, and Sierra Truck, all on Hwy 99 between Eugene and Junction City.

  • The primary competitors will be those in and around Junction City. Guaranty is a large, well-established dealer, with approximately 75% of the local market share. Guaranty has a large operation with a well-trained sales staff. Our sales manager is a former Guaranty sales manager, who understands the competition’s operations very well.
  • Frank’s Auto Place offers a limited selection, and appears to be unorganized. Frank’s does not offer any competitive marketing and primarily focuses on the $1-2,000 vehicle.

Our Advantages

Keys to success.

To succeed in this business we must:

  • Put together a team of experienced professionals.
  • Secure an excellent high-traffic location.
  • Establish a network of suppliers, in order to buy and sell products that are of the highest reliability and quality, at a competitive price.
  • Ensure customer satisfaction by encouraging the two most important values, honor and integrity.
  • Create high morale by rewarding employee success with monetary compensation.

Marketing & Sales

Marketing plan.

Our marketing strategy will focus on four segments. Those segments are described in the following subtopics. We will implement a strategy that treats customers as a community. This means our marketing resources will be centered around advertising both sales promotions (events) and personal sales (customer service, friendly atmosphere).

  • The marketing budget will not exceed $6,000 per year.
  • 100% customer satisfaction, measured through repeat customers, referrals and surveys.
  • To achieve a respectable profit margin within the first three-years.
  • To achieve a healthy net profit by year two.

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The  retired  group will focus on practicality. Cost may be less important than quality and features. This group wants comfortable, nicely equipped vehicles at a reasonable price. They will want a vehicle that will last for years.

Families  will focus on safe, practical vehicles. Something that will last for years, can fetch groceries, carry the kids, and perform long trips. Many will be on a budget, and price may be a big factor. They will shop around and educate themselves on vehicles, shopping for a specific make or model.

The last group is the  singles . They are similar to the students in that they want flashly cool cars, but may be a working professional who can afford to pay more for a higher-quality vehicle.

Sales compensation is based on a percent of profits. We will invest adequate time and resources into training each member of the sales team and into good customer relations. Salesmen will be paid a portion of their salary based on commission. Good performance is rewarded with increased commission and bonuses. However integrity will not be sacrificed for sales. Customer satisfaction will continue to be a top priority. All potential sales will be attended to in a timely fashion and long-term salesperson-customer relationships will take precedence over sales closure.

Locations & Facilities

  • The company office is located at 12345 HWY 99, Junction City, OR 97666.
  • The office is approximately 1,000 square feet and has ample space for the first three years of growth.
  • The 20,000 square foot lot and building is leased from the principal owner.

Integrity Auto Sales sells top-quality used vehicles at a competitive price. Integrity buys pre-inspected vehicles wholesale from well known local car dealers, and auto auctions. Integrity continually maintains a diverse stock of vehicles, providing the widest selection for individual needs.

Vehicles are purchased weekly, to add to the current stock on hand. Each vehicle is thoroughly inspected by an ASE mechanic with over 25 years of experience. Only vehicles that pass this critical 26 point inspection are sold on-site.

Integrity Auto Sales sells all types of used vehicles, from sports cars to RVs. We cater to each customer individually, to satisfy their own practical needs.  We buy only the best used vehicles at or below wholesale in order to bring the savings to the customers. Each vehicle is thoroughly inspected by an ASE mechanic with over 25 years of experience. We also offer an auto finding service to customers. If we do not have the vehicle they want in stock, we will find one for them.

Milestones & Metrics

Milestones table, key metrics.

Our key metrics are: 

  • # of facebook posts and pageviews 
  • # of tweets and retweets
  • # of reps that meet and excel their quotas. 
  • cogs of our most popular cars
  • website page views and shares 
  • Follow our customers figure out their favorite cars and features 

Ownership & Structure

Integrity Auto Sales is a privately held corporation. It will be registered as a Subchapter S, with ownership 60%-Jonathan Dinsmore, 40%-Don Mazzioti.

Management Team

Integrity will start with four initial employees. The owner will manage over all operations and the sales manager will manage all buying and selling of inventory. A records clerk and lot attendant will also be hired initially.

Once the gross margin and cash flow will support it, we will hire an additional salesman and lot attendants (tentatively four to six months).

Personnel Table

Financial plan investor-ready personnel plan .">, key assumptions.

We will accept credit cards and trade-ins of any value. Credit cards will have a negative affect on cash flow in that we may not be paid for several days. Trade-ins will also impact cash flow in that they are an asset and have no real value until sold. We will have to limit the number of credit transactions, and only take in quality trades at a wholesale price to facilitate turning a quick profit. The personnel burden is very low because benefits are not paid to part-timers. And the short-term interest rate is extraordinarily low because of current market rates.

We also assume conservative earnings from selling loans and extended warranties will be made.

The other assumption is that current market conditions will remain for the next two to three years. Low rates will have a positive impact on sales and lending for the short term.

Our cash forecast is extremely unrealistic at the far end of the forecast. We leave it like that knowing that we will revise over time. We call it a cushion, and reassurance, not an accurate forecast. 

Revenue by Month

Expenses by month, net profit (or loss) by year, use of funds.

Almost 90% of start-up costs will go to assets. Start-up costs will be financed through a combination of owner’s investment, short-term loans (VA business loan), and long-term borrowing. The start-up chart shows the distribution of financing.

Other miscellaneous expenses include:

  • Legal fees for business establishment (ownership, and no sell agreement).
  • Stationary, office supplies.
  • Marketing/advertising fees.
  • Initial consultation to establish records with an accountant.
  • Rent for lot and office.
  • Establish a Web page for advertising.
  • Expensed equipment (two computers, two desk, Fax/copier, phone lines, and office furniture).
  • One month initial start-up investment in vehicles.

Sources of Funds

We will be needing $130,000 to start. $100,000 will be a long term business loan. Jonathan will give $20,000 and Don will give $10,000. 

Projected Profit & Loss

Projected balance sheet, projected cash flow statement.

Garrett's Bike Shop

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car broker business plan

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How to Start an Auto Transporting Business

Last Updated: April 13, 2024 Approved

wikiHow is a “wiki,” similar to Wikipedia, which means that many of our articles are co-written by multiple authors. To create this article, 33 people, some anonymous, worked to edit and improve it over time. There are 10 references cited in this article, which can be found at the bottom of the page. wikiHow marks an article as reader-approved once it receives enough positive feedback. This article received 14 testimonials and 93% of readers who voted found it helpful, earning it our reader-approved status. This article has been viewed 351,245 times. Learn more...

Thanks to new technologies to make auto transporting more energy-efficient, it's becoming ever more popular as an eco-friendly way of moving cars. Starting an auto shipping business can be a rewarding endeavor, but you might have questions like how to get started and how much it will cost. That's where we come in. Our how-to guide has all the info you need to start your own car hauling business.

Step 1 Determine what type of auto transporting business you want to start.

  • For a regular auto transporting business, purchase at least one open car hauler.
  • For a specialized auto transporting business, purchase at least one enclosed car hauler, a winch, hydraulic liftgate, and high-strength tie-down straps.

Step 11 Approach auto transporting brokers to be included on their subcontractors' list.

Community Q&A

Community Answer

  • If you're operating more than one car hauler, invest in transportation tracking software that shows you where all your car haulers are through a satellite tracking system. Thanks Helpful 24 Not Helpful 10
  • Consider starting a website where customers can book auto transporting services online. Include information about your services and provide free quotes. Thanks Helpful 14 Not Helpful 8

car broker business plan

  • Before you hire employees, make sure they have their commercial driver's licenses and clean driving records. Thanks Helpful 55 Not Helpful 11

Things You'll Need

  • Commercial driver's license
  • Business plan
  • Motor carrier number
  • Transportation license
  • Hydraulic liftgate
  • High-strength tie-down straps
  • Transportation tracking software

You Might Also Like

Open a Car Wash Business

  • ↑ https://www.sba.gov/business-guide/plan-your-business/market-research-competitive-analysis
  • ↑ https://www.gaebler.com/Starting-an-auto-transport-business.htm
  • ↑ https://driving-tests.org/how-to-get-a-cdl-license/
  • ↑ https://www.entrepreneur.com/article/281416
  • ↑ https://www.inc.com/guides/present-your-business-plan.html
  • ↑ https://www.fmcsa.dot.gov/registration/get-mc-number-authority-operate
  • ↑ https://www.upcounsel.com/how-to-start-a-transportation-business
  • ↑ https://www.entrepreneur.com/article/283832
  • https://bizfluent.com/how-6901151-start-car-transport-business.html
  • https://www.gaebler.com/Starting-an-Auto-Transport-Business.htm

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Insurance Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

  • Insurance Business Plan Home
  • 1. Executive Summary
  • 2. Company Overview
  • 3. Industry Analysis
  • 4. Customer Analysis
  • 5. Competitive Analysis
  • 6. Marketing Plan
  • 7. Operations Plan
  • 8. Management Team
  • 9. Financial Plan

Insurance Agency Business Plan

You’ve come to the right place to create your own business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their insurance companies.

Essential Components of a Business Plan For an Insurance Agency

Below we describe what should be included in each section of a business plan for a successful insurance agency and links to a sample of each section:

  • Executive Summary – In the Executive Summary, you will provide a high-level overview of your business plan. It should include your agency’s mission statement, as well as information on the products or services you offer, your target market, and your insurance agency’s goals and objectives.
  • Company Overview – This section provides an in-depth company description, including information on your insurance agency’s history, ownership structure, and management team.
  • Industry Analysis – Also called the Market Analysis, in this section, you will provide an overview of the industry in which your insurance agency will operate. You will discuss trends affecting the insurance industry, as well as your target market’s needs and buying habits.
  • Customer Analysis – In this section, you will describe your target market and explain how you intend to reach them. You will also provide information on your customers’ needs and buying habits.
  • Competitive Analysis – This section will provide an overview of your competition, including their strengths and weaknesses. It will also discuss your competitive advantage and how you intend to differentiate your insurance agency from the competition.
  • Marketing Plan – In this section, you will detail your marketing strategy, including your advertising and promotion plans. You will also discuss your pricing strategy and how you intend to position your insurance agency in the market.
  • Operations Plan – This section will provide an overview of your agency’s operations, including your office location, hours of operation, and staff. You will also discuss your business processes and procedures.
  • Management Team – In this section, you will provide information on your insurance agency’s management team, including their experience and qualifications.
  • Financial Plan – This section will detail your insurance agency’s financial statements, including your profit and loss statement, balance sheet, and cash flow statement. It will also include information on your funding requirements and how you intend to use the funds.

Next Section: Executive Summary >

Insurance Agency Business Plan FAQs

What is an insurance agency business plan.

An insurance agency business plan is a plan to start and/or grow your insurance business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your insurance agency business plan using our Insurance Agency Business Plan Template here .

What Are the Main Types of Insurance Companies?

There are a few types of insurance agencies. Most companies provide life and health insurance for individuals and/or households. There are also agencies that specialize strictly in auto and home insurance. Other agencies focus strictly on businesses and provide a variety of liability insurance products to protect their operations. 

What Are the Main Sources of Revenue and Expenses for an Insurance Agency Business?

The primary source of revenue for insurance agencies are the fees and commissions paid by the client for the insurance products they choose.

The key expenses for an insurance agency business are the cost of purchasing the insurance, licensing, permitting, and payroll for the office staff. Other expenses are the overhead expenses for the business office, utilities, website maintenance, and any marketing or advertising fees. 

How Do You Get Funding for Your Insurance Agency Business Plan?

Insurance agency businesses are most likely to receive funding from banks. Typically you will find a local bank and present your business plan to them. Other options for funding are outside investors, angel investors, and crowdfunding sources. This is true for a business plan for insurance agent or an insurance company business plan.

What are the Steps To Start an Insurance Business?

Starting an insurance business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop An Insurance Business Plan - The first step in starting a business is to create a detailed insurance business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your insurance business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your insurance business is in compliance with local laws.

3. Register Your Insurance Business - Once you have chosen a legal structure, the next step is to register your insurance business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your insurance business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Insurance Equipment & Supplies - In order to start your insurance business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your insurance business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful insurance business:

  • How to Start an Insurance Business

Where Can I Get an Insurance Business Plan PDF?

You can download our free insurance business plan template PDF here . This is a sample insurance business plan template you can use in PDF format.

car broker business plan

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Top tips for hiring a car at moscow vnukovo airport.

  • Whether you’re visiting Moscow for a week or a month, getting a car rental at Moscow Vnukovo Airport (VKO) is the best way to explore the Russian capital. You’ll traverse various parts of the city that aren’t fully accessible by public transport. Self-driving lets you choose the shortest route to your destination and avoid traffic. Renting a car will save you money compared to using a taxi when you look at the overall costs to multiple destinations.
  • Collecting your rental car at Moscow Vnukovo Airport isn’t that complicated. You’ll find several local and international car rental suppliers at the airport with an on-site counter. Car rental desks at VKO are on the ground level in the Arrivals section, Terminal A. Once you get to the airport, head straight to your preferred company’s rental desk. You can also visit the rental desks after booking online. Make sure you carry all the requested documents. After processing, a staff member from the rental company will guide you to the pick-up point outside the terminal. Take your time to inspect the car for any dents or damages. Check the fuel level and make sure your maps are working and in your preferred language since most road signs in Moscow are in Russian.
  • The other benefit of getting a car rental at Moscow Vnukovo Airport is that you’ll have a smooth return process. Most rental companies will ask you to return the rental car to the exact location you collected it, or the drop-off point stated in your rental contract. What you should pay attention to is the return period. Make sure you return the car on time to avoid the late return penalty fee. You can inform the company early if you’re facing challenges and can’t return the rental car on time. After dropping off the vehicle, conduct a final inspection to check for damages before heading to your rental counter for clearance.
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  • Book your car hire at Moscow Vnukovo airport at least 4 weeks before your trip in order to get a below-average price

FAQs about hiring a car at Moscow Vnukovo airport

What documents do i need to rent a car at moscow vnukovo airport.

To rent a car at Moscow Vnukovo Airport, you will need a valid driver’s license from your home country that has been valid for at least one year. You should provide an International Driving Permit for translation purposes. Most companies will also require your passport for additional proof of identity. A valid credit card with enough cash for deposit and payment must also be presented. Some companies will ask you to bring a printout of the booking confirmation voucher sent to your mail.

What amenities are available at Moscow Vnukovo Airport?

You’ll have access to several amenities when you opt for a car rental at Moscow Vnukovo Airport, including showers in various lounges, ATMs, luggage carts, and free Wi-Fi. If you’re traveling with children, you can take advantage of the children’s playroom in Terminal A. There is a parenting room equipped with changing tables, baby cribs, and play areas for parents traveling with newborns. VKO is perfectly equipped for passengers with reduced mobility.

How can I pay for my Moscow Vnukovo Airport car rental?

The best way to pay for your Moscow Vnukovo Airport car rental is using a major credit card. It is a secure option for renters and the best security for rental companies during your rental period. Few car rental suppliers may let you pay using a debit card but with several limitations and requirements. They will restrict you to certain types of rental cars, and you may be asked to produce additional proof of identity or your return travel details.

Which car hire companies will pick you up at Moscow Vnukovo airport?

Car hire companies that offer shuttle or pick-up services from Moscow Vnukovo airport to off-airport locations include Avis, Rentmotors, Sixt, and TIS Car.

Moscow Vnukovo Airport car rental reviews and directory

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One location in Moscow Vnukovo Airport

Locations in Moscow Vnukovo Airport

Vnukovo Int Apt

Vnukovo Air Term A Meet N Greet

+7 495 640 82 82

Opening times not available

keddy by Europcar

3 locations in Moscow Vnukovo Airport

Poselok Vnukovo 2 Reysovaya Street

Vnukovo Airport Intl Arrival Zone- 2, 2Nd Reisovaya Str.

No score available yet

2 locations in Moscow Vnukovo Airport

Mosco - Vnukovo Airport

+7 916 724 04 55

Terminal A, Counter 34

+7 962 967 8633

IDrive Rent-A-Car

+7 499 685 4725

Vnukovo airport

+7 495 921 3838

12, 1-Ya Reysovaya Ulitsa

Terminal. A,2 Ul.2-ja

+7 495 260 10 38

+7 495 788 6888

ul. 2-ja Rejssowaja, 2

+7 495 589 11 11

2 2nd Reisovaya str.

+7 926 279 2989

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Elektrostal

Elektrostal Localisation : Country Russia , Oblast Moscow Oblast . Available Information : Geographical coordinates , Population, Area, Altitude, Weather and Hotel . Nearby cities and villages : Noginsk , Pavlovsky Posad and Staraya Kupavna .

Information

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Elektrostal Demography

Information on the people and the population of Elektrostal.

Elektrostal Geography

Geographic Information regarding City of Elektrostal .

Elektrostal Distance

Distance (in kilometers) between Elektrostal and the biggest cities of Russia.

Elektrostal Map

Locate simply the city of Elektrostal through the card, map and satellite image of the city.

Elektrostal Nearby cities and villages

Elektrostal weather.

Weather forecast for the next coming days and current time of Elektrostal.

Elektrostal Sunrise and sunset

Find below the times of sunrise and sunset calculated 7 days to Elektrostal.

Elektrostal Hotel

Our team has selected for you a list of hotel in Elektrostal classified by value for money. Book your hotel room at the best price.

Elektrostal Nearby

Below is a list of activities and point of interest in Elektrostal and its surroundings.

Trains Moscow to Elektrostal: Times, Prices and Tickets

  • Train Times
  • Seasonality
  • Accommodations

Moscow to Elektrostal by train

The journey from Moscow to Elektrostal by train is 32.44 mi and takes 2 hr 7 min. There are 71 connections per day, with the first departure at 12:15 AM and the last at 11:46 PM. It is possible to travel from Moscow to Elektrostal by train for as little as or as much as . The best price for this journey is .

Get from Moscow to Elektrostal with Virail

Virail's search tool will provide you with the options you need when you want to go from Moscow to Elektrostal. All you need to do is enter the dates of your planned journey, and let us take care of everything else. Our engine does the hard work, searching through thousands of routes offered by our trusted travel partners to show you options for traveling by train, bus, plane, or carpool. You can filter the results to suit your needs. There are a number of filtering options, including price, one-way or round trip, departure or arrival time, duration of journey, or number of connections. Soon you'll find the best choice for your journey. When you're ready, Virail will transfer you to the provider's website to complete the booking. No matter where you're going, get there with Virail.

How can I find the cheapest train tickets to get from Moscow to Elektrostal?

Prices will vary when you travel from Moscow to Elektrostal. On average, though, you'll pay about for a train ticket. You can find train tickets for prices as low as , but it may require some flexibility with your travel plans. If you're looking for a low price, you may need to prepare to spend more time in transit. You can also often find cheaper train tickets at particular times of day, or on certain days of the week. Of course, ticket prices often change during the year, too; expect to pay more in peak season. For the lowest prices, it's usually best to make your reservation in advance. Be careful, though, as many providers do not offer refunds or exchanges on their cheapest train tickets. Unfortunately, no price was found for your trip from Moscow to Elektrostal. Selecting a new departure or arrival city, without dramatically changing your itinerary could help you find price results. Prices will vary when you travel from Moscow to Elektrostal. On average, though, you'll pay about for a train ticket. If you're looking for a low price, you may need to prepare to spend more time in transit. You can also often find cheaper train tickets at particular times of day, or on certain days of the week. Of course, ticket prices often change during the year, too; expect to pay more in peak season. For the lowest prices, it's usually best to make your reservation in advance. Be careful, though, as many providers do not offer refunds or exchanges on their cheapest train tickets.

How long does it take to get from Moscow to Elektrostal by train?

The journey between Moscow and Elektrostal by train is approximately 32.44 mi. It will take you more or less 2 hr 7 min to complete this journey. This average figure does not take into account any delays that might arise on your route in exceptional circumstances. If you are planning to make a connection or operating on a tight schedule, give yourself plenty of time. The distance between Moscow and Elektrostal is around 32.44 mi. Depending on the exact route and provider you travel with, your journey time can vary. On average, this journey will take approximately 2 hr 7 min. However, the fastest routes between Moscow and Elektrostal take 1 hr 3 min. If a fast journey is a priority for you when traveling, look out for express services that may get you there faster. Some flexibility may be necessary when booking. Often, these services only leave at particular times of day - or even on certain days of the week. You may also find a faster journey by taking an indirect route and connecting in another station along the way.

How many journeys from Moscow to Elektrostal are there every day?

On average, there are 71 daily departures from Moscow to Elektrostal. However, there may be more or less on different days. Providers' timetables can change on certain days of the week or public holidays, and many also vary at particular times of year. Some providers change their schedules during the summer season, for example. At very busy times, there may be up to departures each day. The providers that travel along this route include , and each operates according to their own specific schedules. As a traveler, you may prefer a direct journey, or you may not mind making changes and connections. If you have heavy suitcases, a direct journey could be best; otherwise, you might be able to save money and enjoy more flexibility by making a change along the way. Every day, there are an average of 18 departures from Moscow which travel directly to Elektrostal. There are 53 journeys with one change or more. Unfortunately, no connection was found for your trip from Moscow to Elektrostal. Selecting a new departure or arrival city, without dramatically changing your itinerary could help you find connections.

Book in advance and save

If you're looking for the best deal for your trip from Moscow to Elektrostal, booking train tickets in advance is a great way to save money, but keep in mind that advance tickets are usually not available until 3 months before your travel date.

Stay flexible with your travel time and explore off-peak journeys

Planning your trips around off-peak travel times not only means that you'll be able to avoid the crowds, but can also end up saving you money. Being flexible with your schedule and considering alternative routes or times will significantly impact the amount of money you spend on getting from Moscow to Elektrostal.

Always check special offers

Checking on the latest deals can help save a lot of money, making it worth taking the time to browse and compare prices. So make sure you get the best deal on your ticket and take advantage of special fares for children, youth and seniors as well as discounts for groups.

Unlock the potential of slower trains or connecting trains

If you're planning a trip with some flexible time, why not opt for the scenic route? Taking slower trains or connecting trains that make more stops may save you money on your ticket – definitely worth considering if it fits in your schedule.

Best time to book cheap train tickets from Moscow to Elektrostal

The cheapest Moscow - Elektrostal train tickets can be found for as low as $35.01 if you’re lucky, or $54.00 on average. The most expensive ticket can cost as much as $77.49.

Find the best day to travel to Elektrostal by train

When travelling to Elektrostal by train, if you want to avoid crowds you can check how frequently our customers are travelling in the next 30-days using the graph below. On average, the peak hours to travel are between 6:30am and 9am in the morning, or between 4pm and 7pm in the evening. Please keep this in mind when travelling to your point of departure as you may need some extra time to arrive, particularly in big cities!

Moscow to Elektrostal CO2 Emissions by Train

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Frequently Asked Questions

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  23. Elektrostal, Moscow Oblast, Russia

    Elektrostal Geography. Geographic Information regarding City of Elektrostal. Elektrostal Geographical coordinates. Latitude: 55.8, Longitude: 38.45. 55° 48′ 0″ North, 38° 27′ 0″ East. Elektrostal Area. 4,951 hectares. 49.51 km² (19.12 sq mi) Elektrostal Altitude.

  24. Trains Moscow to Elektrostal: Times, Prices and Tickets

    The journey from Moscow to Elektrostal by train is 32.44 mi and takes 2 hr 7 min. There are 71 connections per day, with the first departure at 12:15 AM and the last at 11:46 PM. It is possible to travel from Moscow to Elektrostal by train for as little as or as much as . The best price for this journey is . Journey Duration.