Terranova’s Cheverolet

TERRANOVA’S CHEVEROLET

Business Plan

1.0 Executive Summary

Terranova’s Chevrolet is a start-up organization that offers a complete domestic care repair service and sales as well as a full-featured retail parts store. Terranova’s will serve the New Rochelle, NY market with one convenient location and possibly more. Terranova’s will grow into a business with $13.3 million in sales by year three. We will sell cars for general motors so we will not be purchasing them and GM will pay the sales team

The Concept

The auto repair market has a lot of competition; however, almost all only offer service. Terranova’s will differentiate themselves by not only offering a hassle-free repair service, but a fully stocked parts department. Not only will this serve a wide range of customers for both service and parts, but the parts department will support the service department by allowing the service department to turnaround jobs far faster than the competition with generally all of the needed parts in stock and on location.

Terranova’s also differentiates themselves by having 10 bays at the location. This offers incredible value to customers who need their cars fixed right away. Waits for service and parts are ideas not entertained by Terranova’s. Lastly, Terranova’s offers unlimited shuttle service for repair customers making the entire service experience as painless and convenient as possible.

Terranova’s will attract and maintain a loyal customer base through their customer-oriented focus on business. All employees are trained and held responsible for providing superior service, developing a long lasting trust bond with customers. This is very important, especially in the auto repair industry where trust and honesty are not the image of repair facilities.

The Management Team

Terranova’s has a strong management team that will allow them to execute on this exciting idea. Terranova’s has four partners, John Terranova, Giovanna Terranova, Ciro Terranova, and John Leone. John Terranova has a background of sales, 5 years at the nation's second largest GM dealership. He will be overseeing the sales and marketing for the organization. Giovanna’s background is in management from Johnny’s automobile where she was a Vice President overseeing a department of 200 people. Ciro is also a product of the auto industry, specifically the auto repair and parts sales industry. Ciro spent five years at Beaver Auto Parts and then seven years at Midas, New York’s largest independent auto repair facility. At both organizations Ciro had multiple roles within the organization allowing him to bring to Terranova’s a broad skill set. Lastly, John Leone brings 10 years of finance and administration experience. John Leone was trained at GM and later in his career took a position at Delco Parts. The incredible breadth of skill sets and knowledge that the management team possesses will allow Terranova’s to accomplish their lofty goals of over $11 million in sales.

Terranova’s is an exciting business opportunity that addresses the need of having a full service auto repair facility that also has a complete retail parts center. These distinct but complimentary services will have benchmarked customer service, something that the industry is not known for having. Terranova’s will be led by a seasoned management team of four, all of whom have extensive industry experience. Terranova’s has forecasted sales of $9.1 million for year one, $11.3 million for year two, and $13.3 million for year three.

Highlights

1.1 Mission

Terranova’s Chevrolet aims to offer high-quality auto repair services and a full range of auto parts. Terranova’s focuses on personalized service to its customers by offering convenience and rapid service. Additionally, Terranova’s is technologically savvy with computerized monitoring of all parts inventory, to ensure that parts are always in stock, while keeping a balanced level of inventory to maximize inventory turnover. Finally, Terranova’s has strong vendor relationships with the most service conscious vendors who are capable of shipping major parts rapidly (on an overnight timeline in most cases).

1.2 Keys To Success

Terranova’s keys to success will include:

1. Expedient and convenient auto repair services.

2. Growing and maintaining a referral network of local towing service companies.

3. A wide range of auto parts inventory that is (nearly)