Eric wants to start a car detailing business but is unsure, Ask an Expert

Management Studies

Eric wants to start a car detailing business but is unsure how many cars he will need to detail before making a profit. His cousin has offered to let him use a small section of his shop for only $400 per month. Eric is going to pay his friend $10/hour to help him. He has estimated his additional expenses to be the following:

Insurance $150/month

His share of monthly utilities $110

Wax (will yield 10 cars) $16.00

Towels, soap, and other supplies $2.75/vehicle

Leasing of equipment $100/month

Marketing $125/month budgeted

He estimates that it will take him 4 hours to detail a vehicle if he has help from his friend.

He plans to charge $90 per vehicle.

Eric is now considering leaving his full-time job to grow his car detailing business but does not want to lose his salary. If he decides to pay himself $2000 per month how many cars does he have to detail in a month now to breakeven?

View complete question

Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91509531

Have any Question?Write your Review or question?

Related Questions in Operation Management

Imagine that you are the hr manager for a new company just

Imagine that you are the HR manager for a new company just opening its doors in your community. The owners have asked you to prepare a vision for compensating the staff. They do not want specific policies but rather guid ...

Explain and discuss the following questions by including an

Explain and discuss the following questions by including an example. What marketing strategy is appropriate at every stage of the product life cycle? How should marketers adjust their strategies and tactics when economic ...

This question involves analyzing the advantages of an

This question involves analyzing the advantages of an organization that offers quality services that are related to human resources. Specifically, think about two major areas of a performance evaluation: (a) quality and ...

Emerging global trends have become prolific since the

Emerging global trends have become prolific since the commercialization of technology in the late 80's. Technology has brought the world together and made it's market expansive. Why is it important to understand "Emergin ...

1 in your company what steps would you take to ensure there

1. In your company, what steps would you take to ensure there is no earnings disparity for full-time male and female workers? Explain how prevalent it is or is not in your industry and why? 2. 1. Do you think it is okay ...

You need to determine and define a market domain for this

You need to determine and define a market domain for this assignment and the following with a minimum of two For this class, you will be working with a real company or a fictitious one of your own creation that is in a m ...

Management of conflict in an organization and strategies to

Management of conflict in an organization, and strategies to avoid it. Presentation should not contain more than 8 slides Justify the presentation with appropriate references. Follow APA style for referencing.

How can hr staff work with organizational managers to

How can HR staff work with organizational managers to create an effective incentive and motivation plan to make employees more effective and efficient? Based on your assigned readings for this module, consider the relati ...

1 in a restaurant your dinner arrives after 10 minutes and

1. In a restaurant, your dinner arrives after 10 minutes, and you were expecting it to arrive in 5 minutes or less, is this an example of sensitivity or service level agreement? Explain why 2. Of the two types of contain ...

1 which of the following usage of social data by a company

1. Which of the following usage of social data by a company indicate that the company is a mature social business? 1. Social data is used to analyse behaviours 2. All of the listed choices 3. Social data is used with the ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Operation Management Expert