As you prepare for opening day, plan to scope out your competition and make several important decisions about business operations.
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.
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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.
To service this sport, there are thousands of small businesses across the country skilled in the ways of horsepower and hooking it to the ground. Whether they make their money from parts or services, retailing or building engines, these businesses make it an easy and convenient matter to go racing.
Without these local ambassadors of speed, it is hard to imagine the existence of auto racing in a large scale.
Sometimes they will service a local race track; however, they usually carry a very minimal amount of inventory, and are usually operated by a racer or an ex-racer depending solely upon a small circle of friends or acquaintances as customers.Aug 08, · Two wheeler spare parts business for begineers Iss video meh apko btauga ki ap kese choti ya firr two wheeler ka spare parts ka business krr skte h.
Or kitna accha earn krr skte h. Browse here latest added sellers of two wheeler parts, two wheeler spare parts, two wheeler accessories and contact two wheeler parts wholesale suppliers, two . The racing industry is in a boom period. 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.
Hi sir, I want to start new two wheeler spare parts shop in my town, am new to this field, kindly help me where i get spare parts in cheap, how much of minimum cost will take to invest in this field, is it profitable business, Sir pls give me more idea to start this shop and how run successful. The Business plan.
Make a business plan and include in it how you are going to find the raw material in order to start your business. Factor in the local competition as well as set your target audience. Don’t forget to write down the pricing specifics. You can consider selling the automobile parts or do the bodywork of the car.
Aug 02, · As an auto parts retailer, location is important for the viability of your business. Determine the saturation of auto parts stores in and around your prospective area of business.