Future Business?
Thread Starter
Joined: Jul 2006
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From: Capac MI
Future Business?
Hey, I have a couple questions, Lets say you didnt know what end of a screw driver to hold, but you wanted aftermarket parts on you truck or car. Would you pay for it to be installed?? well the what end of a screw driver to hold i mean not mechanically inclined. I know its not hard to install brush guards or flares. But i know theres people out there who dont know how to, but would love to have that on their truck. Im thinking about starting my own business. I am certifyed in the state of michigan in 4 areas. In my business i would do stuff like lifts, Tires and wheels, Exhaust, Engine performance, Interiors, Exterior Assessories, and audio. I dont exactly know what i should focus on. I dont want this to be a repair shop, Nore body. Please helppp
Postmaster
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From: Calgary, Canada
You should probably focus on what you like to do the most.
I imagine doing tires and wheels would carry a fair bit of liability and high insurance; something to consider. Plus, messing with proples 60K+ vehicles, you'll want all the insurance you can get.
I imagine doing tires and wheels would carry a fair bit of liability and high insurance; something to consider. Plus, messing with proples 60K+ vehicles, you'll want all the insurance you can get.
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What is the bigger slice of the economic pie? Repair business for sure. Do the custom add-ons as a side to the repairs. When the economy slows or stalls, the high-price doo-dads are the first thing to go. People still crash their cars even in the worst economy.
New User
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I think this depends entirely what it is this company will have the ability to do with the vehicles.
The domino principle is alive & well out there ......for some.
If it is strictly an "Automotive Add-on" Business...how far or "In-depth" to systems will the company go ?
Appearance
Engine mods
Suspension mods
The domino principle is alive & well out there ......for some.
If it is strictly an "Automotive Add-on" Business...how far or "In-depth" to systems will the company go ?
Appearance
Engine mods
Suspension mods
Thread Starter
Joined: Jul 2006
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From: Capac MI
I was thinking something along the lines of, Lift kits, Engine mods, Mounting and balancing tires, Audio, window Tint, Assessories like Tonnue covers, Flares, Exhaust (maintly costom bent) Or kits. Brush guards and Costom Bumpers, Lighting. Does that sound like a business worth having??
Thread Starter
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From: Capac MI
Yea i know, Well see i would definatly move. Capac Is in michigan by port huron. Its probably the smallest and poorest down in michigan. About 12 Miles from me is a town called Lapeer. Id move there. And as far as the lift kits, Thats why im not focusing on that. Im just getting some ideas of what i can maby get into. Thankyou for all your help to, Its helping
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Hotshot
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From: NW burbs of chicago
there is a business in my town that does aftermarket stuff... A/V remote starts Alarms, brush guards, tonneau's, Theyre known as "hacks" by real installers, but theyre still in business none the less... as far as tires / wheels... There would be alot to keep instock...
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From: right here in michigan
Originally Posted by THE KING
Yea i know, Well see i would definatly move. Capac Is in michigan by port huron. Its probably the smallest and poorest down in michigan. About 12 Miles from me is a town called Lapeer. Id move there. And as far as the lift kits, Thats why im not focusing on that. Im just getting some ideas of what i can maby get into. Thankyou for all your help to, Its helping
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From: Hewitt, Minnesota
Originally Posted by 85e150six4mtod
What is the bigger slice of the economic pie? Repair business for sure. Do the custom add-ons as a side to the repairs. When the economy slows or stalls, the high-price doo-dads are the first thing to go. People still crash their cars even in the worst economy.
Do you have a building or the means to acquire one? Set up a basic business plan. I would start out doing repairs as suggested above. You can always expand later. Besides I would be more likely to trust a well known repair mechanic to install aftermarket parts then a new unknown company. Which brings me to my second point. Get your name out there advertise in parades. Build some extremely outrageous vehicle for parade use that gets people's attention and shows off your skills.
Postmaster
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From: Calgary, Canada
The run-of-the-mill tire shops that have first come, first served, same day service have to carry a lot of stock, but when you're dealing with, say, 18" and larger wheels and tires, which is what I would think would be dealt with in a customizing shop, are all usually special order with maybe a few sets or one of each set, just for demo purposes.
decadent and depraved
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From: Right Behind You
Have you thought about trying to open a franchise store? If there are not any 4X4 shops in your area, one of the national chains might jump right on the idea, that is if they think there is a need for it. Most chains will train you how to run the business, which is harder than you might think, and help you know what to stock. Also, a big name store with a good reputation might draw in more business than some place named Bobs 4X4 Shop.
That's just something you might want to think about.
Tim
That's just something you might want to think about.
Tim
Last edited by thorseshoeing; Oct 30, 2006 at 08:11 AM.
Thread Starter
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From: Capac MI
OK thankyou for your help. I understand all your points. As a repair shop, Is it hard to get one of those off the ground? I heard it normally takes a year for a business to first experience Profit. Then i also heard they wont give you a loan untill you have at least a years income in the bank. Are alot of these true? and also what can i do to get a business loan. I would have to either make a shop at my house, or rent a building. Where im from theres not any places for that. I dont know about my Nieboring town but i think i might be able to rent there. I just want to know if its really hard to get off the ground?
Postmaster
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From: Calgary, Canada
In order to get a business loan, you'll need to have a professional business plan drawn up. That will probably cost you at least 2-3K. Once you have that, you can go to the bank. No gaurantee that they will lend you money, if not, you can always advertise in the papers for private lenders. Family and friends are the usual places to start. If you can show that you have interest from family and friends and have 20 - 25% of start-up capital, then, you'll be much more likely to gain interest from the bank and other private investors. Having that first 20-25%, no matter where it comes from will be very important in a business loan.