You can use cash on hand, bank financing or venture capital, for instance. Explore the possibility of getting a credit line from key motorcycle-parts wholesalers.
If your store can not be seen or is located in some remote area, then the possibility of attracting clients can be hard. You can try choosing a store in a mall if the rent is reasonable. We are only talking here about the stocks. If not, choose a better location or identify a niche market that is not already saturated.
Riding a motorcycle also create for this people the chance of beating the traffic gridlock. These activities can be conducted for a fee, creating a profit center of its own, or you can offer them free of charge to attract your target market motorcycle parts business plan philippines your parts shop.
If you want a good start Php, to Php, is enough. Ask your agent what coverage you would need should a set of used brakes you sold fail, causing an accident, for example.
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Get what your customer needs quickly at a reasonable price, and you win the sale. With enough know-how and familiarity with the parts of a motorcycle and business acumen, you can easily make a dent in this niche and be successful. If you yourself are a motorcycle enthusiast then there can never be great business opportunity for you than starting a motorcycle parts store.
But most likely you asked me, how much money do I need to start this kind of business? Make sure you have spacious workshop for your customers and your mechanics.
Well, that depends on your pocket. The reason for this is because you have to entice and catch the market in your area. You may start also with Php, for your stocks only and buy only those items that are salable then you can add your capital later.
But do not be discourage. Decide whether your area needs a motorcycle-parts business. If you want this all set for you, you may opt a franchise. Here are guidelines for you to follow so that your motorcycle parts business is sure to start on the right track: As you prepare for opening day, plan to scope out your competition and make several important decisions about business operations.
Start Marketing Begin your marketing plan.
What if your money is below those figures? Honda, Kawasaki, Yamaha or Suzuki. Know whom to call when the customer needs something you do not stock. Stock items such as bodywork, electrical parts, engine parts, frames and gas tanks.
They will want to see a solid business plan, projected earnings, inventory costs, your knowledge of motorcycles, previous financial records, and an impassioned presentation on why you will succeed as a motorcycle parts retailer. I recommend Cyclemar or Tres Hermanas in 10th Ave.
Decide which parts will be in greatest demand during the normal course of operating your motorcycle parts business. Motorcycle parts are also known to be specific to a brand. Motorcycle parts are normally specific to a brand, make or model so it may be in your best interest to carry universal products like tires, stickers, clothing, and protective gear in store while ordering specific parts after a customer requests them.
Motorcycle parts are normally specific to a brand, make or model so it may be in your best interest to carry universal products like tires, stickers, clothing and protective gear in store while ordering specific parts on a request basis.
Build an Inventory Secure your initial inventory of parts. Tips Catering to a niche market within motorcycles such as sport bikes or cruisers may increase the odds of breaking into the motorcycle parts market. Well, look around you.
Visit successful motorcycle part stores in the area to get an idea of how much inventory they carry, what kind of services they offer, building features, and prices on popular products such as exhaust, body fairings, protective gear and tires. Cover your liabilities with adequate insurance.
Be prepared to shelve or merchandise these items attractively before the grand opening. Buy direct from the parts manufacturer for the best competitive advantage. View Larger Map Location Your shop and workshop should be located in the main streets in your area, make sure your market can easily find you.If you yourself are a motorcycle enthusiast then there can never be great business opportunity for you than starting a motorcycle parts store.
I'm a Business Consultant and previously working as head of Parts Division in Yamaha Motor Philippines, Inc.
Those who want to be partner lets discuss some business plan. OFW here in Malaysia. May 13, · How to open Motor Spare Parts Business IT For Masses Knowledge Series. auto spare parts business interview - Duration: Motorcycle Restoration Channel 1, killarney10mile.com: IT For Masses Knowledge Series.
Aug 22, · In this post I will guide you on how to start and what you need to know about motorcycle parts and accessories business.
Home About Motorcycle Parts Supplier Philippines. Reply Delete.
Replies. Anonymous October 11, I have a plan to opened a small business for Motorcycle Spare Parts & Services in my area (This area. Starting a motorcycle parts business gives you an opportunity to break into this niche motorcycle market. If you are a two-wheeler enthusiasts, starting a motorcycle parts business can allow you to work within your passion, meet local motorcyclists and also provide an in-demand service.
Recycled Riding Dreams motorcycle shop business plan executive summary. Recycled Riding Dreams will offer quality used motorcycles and parts to a growing market of motorcycling hobbyists/5(13).Download