There are two winnable approaches for a
business plan for automotive parts store: carry very unique parts,
and/or sell on the internet.
KEY CONSIDERATION
Manny, Mo and Jack are hard to compete
with. So don't. Find your niche elsewhere. Perhaps exotic
cars. Or jalopies. Or classic Mustangs. Then identify your
market, both locally and internationally.
STRONGEST ADVANTAGE
Guys have ongoing affairs with cars.
(Some gals, too. But mostly guys.) They will pay top dollar for
a part that they need for old Bessie, and be thrilled that you have it.
STRONGEST DISADVANTAGE
It's easy for auto parts stores to turn
into junk yards. Having a variety of inventory is good; having
junk is not.
OVERCOMING THE DISADVANTAGE WITH YOUR
BUSINESS
PLAN FOR AUTOMOTIVE PARTS STORE
Prove that you have the experience to make the store successful.
Just loving cars isn't enough. Your
passion is important, but so is your managerial ability. Where did you
get your background in the industry? How many years of experience do
you really have?
And, more importantly, how effectively can
you sell your product over the internet? Auto parts stores used to be
a telephone type of business. No more. The internet has taken
over. If you do not have a website, get one. Learn how to make
that website work for you.
Prove that you have the marketing background and skill to make the
auto parts store
successful.
A business plan for automotive parts
store is rather a cold document. The business itself, however, is
very people oriented. This is definitely a business that needs your
skill in establishing business relationships.
In today's banking system, it is often
difficult to talk with the decision makers. So find other ways of
communicating with them. Create a video. Burn a CD that features
an interview with you. Put a video on your website.
I keep coming back to the website.
It's important in this business. Focus on it. Use it to your
advantage.
OTHER PLUSSES FROM YOUR BUSINESS PLAN
FOR AUTOMOTIVE PARTS STORE
Demonstrate that you have identified both
a source for your products, and buyers for your products. They can
be next door, or around the world. The location doesn't matter, as
long as they are there.
Keep your financial estimates in line
with the industry, with consideration for just how unique your product
line will be.
FOR ADDITIONAL INFORMATION
FOR YOUR FREE SAMPLE CLOTHING STORE BUSINESS PLAN AND YOUR CLOTHING STORE
MARKETING PLAN
For statistical information for the
marketing plan for your clothing store, with emphasis on the particular industry you are
entering, go to BizMiner.
At the home page, look for the "Industry Search" search box,
and enter
"automotive parts". You will be taken to a page where
you can download both a Financial Analysis and Marketing Research for an
Automotive Parts Store. The data provided is based on information
from over 12,000 companies.
Pay attention to the reports from BizMiner.
This is the information that your banker will have. If your
financial summaries and/or marketing research vary substantially from
what is outlined here, your business will be considered questionable.
You need to do a thorough job because
your banker will do one too. So be sure to check in VIEW ALL REPORTS
for the DEMOGRAPHIC information for your area.
ONE STEP BEYOND ...
To make a strong impression on your
lender, present a business plan worthy of your business. The energy
and professionalism that you bring to your shop should be reflected in
the plan itself.
|
Your 7-Step Business
Plan for an Auto Parts Store is an excellent
source for targeting your business plan specifically for your
automotive shop. Over 100 pages of solid information, with a
template ready to go. Everything is included -- even
sample financials. It works because it is so thorough.
Click on the book cover for
more information |
YOUR LIKELY
LENDER/INVESTOR
The SBA
is a strong lender in the retail field.
If yours is an established retail
business looking to expand regionally, nationally or internationally, a
venture capital firm may be your best choice. Be sure to check out
the newest development in venture capital: venture
lending.
YOUR ONLINE
PRESENCE
Odds are that you will be
able to sell online. Take advantage of that opportunity. The online
market is growing by leaps and bounds -- you might as well be part of that
revolution. See the best web host for more information on my
preferred web host.
THE LAST
WORD ON YOUR BUSINESS PLAN FOR AUTOMOTIVE PARTS STORE
Find your niche, market it
well, and your customers will find you. There are many avenues you
can take to create a strong automotive parts business. Have a great
trip.
.
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Business Plan for Automotive Parts Store
