Creating a Driving School Business Plan
In order to successfully run a driving school business, you will need to create a comprehensive business plan that not only sets out a range of objectives, but also clearly outlines the steps you will take to meet these goals. You will often be required to provide a solid business plan if you are intending to approach investors for business funding, so having one in place is essential. The good news is that creating a business plan is relatively straightforward and can actually help you to take the necessary measures needed to operate a successful business by seeing your objectives outlined in black and white.
Here are some aspects to consider when creating your driving school business plan:
- What is it you want to gain from owning your own driving school? Do you want to become one of the lowest cost providers in the area? What sort of annual turnover are you aiming for? Are you hoping to remain local or expand into franchises across Ireland? What vehicle categories do you hope to teach?
- Mission Statement
- Your mission statement should cover the main values and beliefs of your driving school business. For example, you may wish to emphasise how you are committed to providing high quality, cost effective training for learner drivers in Ireland, helping to reduce the prevalence of road accidents.
- Company Information
- This is a chance to explain more about the history of the company - whether it’s a new venture or has grown from an existing enterprise, for example. You may wish to provide information regarding your driving instructor training, and demonstrate how the business have evolved since it was registered.
- Services Offered
- If you offer it - say it. A good driving school should offer both theoretical and practical tuition to help learners pass their two-part driving test with confidence. If you’re c-ADI approved, you may wish to mention that you also offer ADI candidate training, or hope to expand into that area.
- Marketing Strategy
- This section is very important to investors as it shows how you plan to promote and advertise your business in order to source clients. You should state whether you plan to focus on print or digital marketing, or make use of specific techniques such as content marketing or SMO.
- This is a chance to identify local competitors and emphasise your unique selling point. What is is that makes your driving school business stand out among the competition? Low cost lessons? Added support and assistance? Don’t be afraid to state exactly what it is that makes you different.
- Financial Plan
- Your financial plan should take into account any existing business loans and outline the measures that will be taken to repay funding while also maintaining healthy profits. The financial plan should be based on expected driving instructor salary for intended working hours and client database.