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Is it a good investment to open a mechanic business in El Paso?

I would like to open my own Mechanic store and I'd like to know if is worth it. #entrepreneur #business-management #business

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Ignacio’s Answer

Hi Edgar, thank you for your question. In order to asses if it is a good opportunity to invest in this business, I would highly recommend you go into these basic questions:

How many competitors are operating this business in the area?

Which competitive advantage do I have compare to my competitors?

How much funding would I need to run the business?

How much money can I earn and how mach should I sell to cover my cost?

Doing some research before starting a business could help you a lot to build a solid and profitable business model.

Hope that it helps,

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Vaibhav’s Answer

I support everything Ignacio said. In addition, I would say that the biggest thing you need to ensure is product-market fit. Meaning is your product (or service) needed in the market you target. In other words, are people in El Paso in need of mechanical services? If so, what kind? Is there a specific type of service you can provide that other firms aren't already?

It always helps to run small, cheap and quick tests to see if your idea is viable. Conduct short interviews or surveys with potential customers. This will help you uncover the customer's real pain points without bias and guesses.

The best firms are successful because they are addressing a clear problem their customers need solved ASAP. If you can identify that and create a business model that addresses it then you have something!

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