If you want to start a motorcycle and accessories shop, there are a lot of things to consider before putting the idea into action. It can either be by selling old or new accessories; there is a wide variety of motorcycle accessories, examples: gloves, helmets, adventure motorcycle jacket, and many others.
Learn how to start a motorcycle and accessories shop using the tips below:
- Study the competition in this business – have the knowledge of what the other competitors offer and their prices.
- Determine the areas that require this kind of business.
- Make decisions on where to get the funding of the motorcycle and accessories shop.
- Get suppliers who can be relied on and who offer genuine products.
- Determine the goods that have the highest demands.
We have included tips on how to start a motorcycle and accessories shop below:
1. CREATE A BUSINESS PLAN FOR THE MOTORCYCLE AND ACCESSORIES SHOP
Create an elaborate plan with business goals and how to achieve them. The business plan will include aims, marketing plans, how to expand the business and other plans. A business plan will also help when requesting for business funding; most money lenders institutions insist on including a business plan while applying for funds.
2. SELECT A NAME FOR THE BUSINESS
When selecting a name for the business, choose a name that is unique, simple and very easy to remember.
3. APPLY FOR A BUSINESS LICENSE
Every business requires a license in order to operate, visit the local authorities and apply for a license for the motorcycle and accessories shop.
4. FIND A GOOD BUSINESS LOCATION
For the motorcycle business a large, spacious room is required. Insist on its front being made of glass to increase the visibility of the displayed items.
Have ample parking for the customers, choose areas with heavy traffic it will be good for business.
5. INSURE THE MOTORCYCLE BUSINESS
Find a good insurance company for the motorcycle and accessories shop, in case of losses or damages the business will be well compensated.
6. ACQUIRE KNOWLEDGE ON BUSINESS TAXATION
Have some knowledge on how business is taxed to be capable of running the business smoothly.
7. BUILD A CREDIT LINE FOR THE BUSINESS
A finance layout is very important for the business it will guarantee that the business to continue operating even before it can start making profits.
8. CREATE ACCOUNTS WITH RELIABLE SUPPLIERS
Get the inventory needed to start a motorcycle and accessories business, have something that can cover the various needs of riders.
9 . HIRE TALENTED BIKERS
Find employees who have a passion for riding this will be a great help to the customers to help them purchase the accessories they need.
10. ADVERTISE THE BUSINESS
Advertise the business in the neighboring areas first and with time include adverts in the local newspapers. Ask friends and relatives to help distribute flyers for your business, in the adverts remember to include the location of the business, contacts and the accessories offered.