Boots and Bonnets Motor Oils You need to know exactly where you will get your auto parts supplies and your pricing strategy. Choose a niche you can work in and that is profitable. The products which you choose to offer in your auto spare parts shop will depend on your target market and the amount of capital you have. You will be sourcing the products from local and international suppliers.
Performance Racing Industry completed an estimate for total number of racers. The resulting number waspeople who competed in an organized auto race at least once in the past year. The estimate includes all forms of auto racing: The only real threat to our venture would be a similar new entry to the marketplace.
This opportunity may best be described as one ready and waiting for the first entrant who arrives with a well-conceived plan, sufficient industry experience, and the required capitalization. While there are many items from various vendors available, Southeast Racing Parts has approached the market as a specialty retailer -- a provider of parts and services to the entry-level racer.
Our target customer in this segment will have a wide range of racing and automotive skills, but our most important target customers are relatively unsophisticated at racing. We will be able to serve this customer well not only by offering them parts at an affordable price, but also by giving them advice that ensures they get the task done correctly, therefore improving their on-track performance.
We are not intending to satisfy all users of racing equipment, but rather those who are just starting out and those who are struggling to keep up. We can save our customers time and money, not so much within our pricing structure, but by assessing their needs and directing them toward the proper product.
Racers, by nature, tend to desire a high-end product, when often a low to mid-end product will do as good as, or sometimes even a better job.
By always dealing in an honest and ethical manner, we will build customer loyalty and word-of-mouth sales that many of our competitors are lacking. One of the key points of our strategy is to focus on target segments that know and understand these needs and are willing for us to fulfill those needs.
We have identified four major trends that help us: Most experts attribute this growth to greatly expanded television coverage of motorsports events. This coverage exposes many more potential participants to the sport. By focusing on affordable entry-level racing, we feel that Southeast Racing Parts will be filling a niche in the market.
As racing and the local population grow hand-in-hand, it should make many more potential customers available to us.
There are a lot of fathers dreaming their son will be the next Jeff Gordon. In fact, there are tens of thousands of serious young kart racers who have chosen this sport over baseball, football, or basketball.
Finally, there is the aging Baby Boomer generation. Many have discharged their duties to their children, who have grown and moved on, and now there is money and time again. They turn to something they always wanted to do, or return to the sport they loved, and they go racing.
As with baseball, it could be argued that auto racing has grown to such popularity because of its vital grassroots foundation. Our customers will be the Little Leagues and softball leagues of auto racing.
Outsiders to the racing industry must understand that racers may be the most obsessive consumers of any industry. Because of the pressure to win, they avidly purchase new technology.
In most race cars, several parts will become obsolete in the course of a season, even though they function perfectly well. Racers are hard on their investment, too.
New tires might be a weekly purchase, and several engine freshening expenditures might be called for in a season. A good whack at the outside wall, and a racing retailer has a customer or two for shocks, a-arms, fasteners, hubs, and more. Racers spend what it takes to win; they are not out merely to enjoy the ride.
Any person who has spent any time at all in the racing pit has heard the guy in front of him in the snack bar line describe how he postponed a key household expense--the telephone bill or a new household appliance--to purchase a new right rear tire, or other critical racing part.The auto parts retail industry enjoys resilience even during times of economic downturn.
Learning how to start an auto parts store can be a profitable venture.
1 Grow a Spare Parts Business;. If you want to start a retail business in the automobile industry, then you can consider starting automobile spare parts business.
This business is highly profitable. In this article, we intend to explore an auto spare parts business plan sample checklist for your ready reference.
Currently, the market for racing parts and accessories is rapidly expanding. Performance Racing Industry completed an estimate for total number of racers. The resulting number was , people who competed in an organized auto race at least once in the past year.
This business plan has been developed to obtain a start up capital for the operations of BEFCO Trading Limited- an import export and car trading company.
It also serves as an operational out-line and plan for the first five years. The founding entrepreneurs intend to raise a start up capital.
Southeast Racing auto parts store business plan strategy and implementation summary. Southeast Racing Parts is a start-up company which provides entry-level oval track racers with affordable products and quality service.4/5(29).
JÖNKÖPING INTERNATIONAL BUSINESS SCHOOL JÖNKÖPING UNIVERSITY BUSINESS PLAN (Import, Export and Car Trading Company) MASTER THESIS IN ENTREPRENEURIAL MANAGEMENT Author: Fred Tanyi Besong.