Success Story

Julie and Lane came to the SBDC because they wanted to start their own automotive repair service. Both Julie and Lane have worked for the used car/commercial vehicle dealership Julie’s parents owned. The company was sold in late 2020. Julie served as the office manager for the former Brink’s Automotive, and Lane was the service manager there. Knowing full well that the company was eventually going to sell, Julie and Lane started working with the SBDC to put together a solid business plan so that they could use it to open their own auto repair shop. The clients established their startup cost and developed a set of financial projections that forecasted their sales potential and identified their costs to operate the business. After working the numbers and completing the business plan, Julie and Lane evaluated the cost of buying land and building a new shop. Due to the rising cost of the commercial real estate in the area they wished to build, they felt it was better to lease space instead. A further appraisal of the plan led them to conclude that they could self-finance their new shop without the need for debt financing, given the money and assets they had on hand. By taking the time to build and evaluate their business plan, Julie and Lane were able to step back and make a business decision that saw them open Fastlane Automotive faster and cheaper than originally anticipated. Julie says that they may build a shop from the ground up one day, and if they do, they will come to the SBDC to put together the business plan.