Ok guys, Im thinking about opening up a Diesel and truck accessories shop. I would keep my current job (teacher) and run the business on the side until it was successful enough to make a living. Ive got a reliable partner that would be at the shop when Im not there to help run things. Im just curious what others thought or what others experiences have been in the business. If anybody wants to brainstorm ideas that would be cool. I think I could get more business in the service and maintenance stuff than high performance parts. What do you think will be the main customer market?? Also, I could use some creative ideas on how to finance the business. Ive never owned a business myself so if anyone cares to discuss it I would appreciate it.

Thanks for listening,
Chad

 

deffinately a booming market with all the diesels being produced now. where are you from??

 

Um, leverage your house.


You can always get with the local SBA office and get a business plan together, get a simple demographic study or some data on your potential market.

The startup capital is usually what stops most people dead in their tracks. I have gone as far as $10,000 on a personal credit card. Have yet to be burnt.
"Scared money don't make none", or something like that.

Yeah, where are you at? Lots of fools with money to throw at mods?

 

SW Michigan. What do you guys see as the main customer attraction?? How much money does it require to get started in this type of business?? What type of insurance do I need?? How do I find out about carrying other dealers products. Im sure its just a matter of calling them up but do most of them require you to purchase and stock a certain quantity of their product?? I still have to research the market in my area still but Im just brainstorming ideas right now.

Thanks,
Chad

 

The widest open market is the new cars coming out, but the problem is the high tech gadgets going on them are sending diesels the same way as gassers. You have to have all the training and computers to work on em.

 

My recomendation is go it alone "partners suck" dont ask me how I know But I think its a market that has room to grow.

 

Even with the wealth of knowledge of members here there are better sources of info on business startup . Check with the SBA . For market ideas check websites of similar companies and see what they offer .

 

In the right area a guy could make a killing. Around me there is only one shop and he stocks very little, he is more of a repair shop, and has to order all of the performance stuff, he does have a few things on the shelf but his place is a mess. That and he still insists a 24 valve needs a pusher pump to last, he hasn't heard of a RASP or FASS and says I can't believe everything I see on the internet. All of the other places cater to the ricer crowd, it would be nice to have a shop around that had stuff in stock so I could window shop and impulse buy (the wife would kill me). It's a prime market in most areas and I have thought about doing it but I don't have the nads to leave my comfortable job to take a chance and it's hard to do on the side with a family.

 

All good information and your points are well taken. I should have said employee and not partner. I intend to own and make the decisions myself but I do have a guy that would work for me in the shop. SBA equals?? Small Business A??????

Thanks,
Chad

 

your biggest competitor is sitting right in front of you, the computer tied to the internet. No if ands or buts about it, this thing is only good for the consumer. I know a shop local to me that has all the goodies for the diesels, decent bunch of guys, but I can not see paying them 575 bux for something that I can get delivered for 400. Now if it was a little closer in price sure I would buy from the b&m shop but 175 bux? shoot thats 3 tanks of fuel! Your best bet would be trying to be open to installing items that people bring with them, make your money on labor, boost income on the property by having it big enough to allow for some rented parking, always a contractor or two around looking to park a few extra vehicles. Recruit your family, kids prefferably, not to the point of exploitation but put 'em to work. This part is important, when starting up make sure you do everything in your power to make the customers happy, starting off with even one that isn't can send out a bad ripple that won't easily be overcome, word of mouth is the best advertising. If you can hook up with a supplier and ged down to the prices you see on ebay and other merchants by all means sell sell sell, make small profits on each a little on shipping and as that sector grows dedicate a responsible person to that position, one that will get the items in the mail and to the customers. Again this leads to happy customers, nothing worse than shelling out money on monday and sitting through a nice weekend with no parts to install. Just a few tip a lot of easy ones but all important.

 

Im with ratsun. Stay away from partners, but if you must, get an attorney and have an iron clad partnership aggreement drawn up between you and him.

Secondly I would look into something other than a general partnership. LLC or Corp is the only way to go IMO.

Lastly Good Luck, business ownership has its ups and downs. Ive found that the ups usually outweigh the downs

 

1st 2nd 3rd location location location , I hope that you've herd that before ,
SBA small buis assosiation , there good to do reasearch like is the area suited for that buis , then a good source for experance and suggestions , generaly no momey until you've been in buis for maybe 2 yrs , much like credit , then find a spot that has good traffic , some the best advertizing is potencial customers driving by, if everything els looks good try to buy the location , I've rented or leased half a dosound places , and just when things get good , have to move , and not for my reasonds , then when it comes to advertizing it used to be the yellow pages were the best for the dollar , now I think an internet site after the drive by.
I'm so fustrated now that about the only thing that apeals to now is doing what your talking about .

 

All very good points, thanks for the discussion. The SBA page is a wealth of information. Right now I am trying to find a building I can afford to buy. The only way I will be able to do that is thru some creative financing. I have a site in mind with excellent location andc very heavy traffic and a nice building for what I want to do, 330K is alot of money. I have some decent equity in my house so maybe a banker could get creative there.


MIKMAZE, I agree my biggest competitor is the net. I am curious how sellers on EBAY can sell for so much less than truck shop owners?? How much overhead to suppliers require you to buy in order to be a distributor??

I think the high peroformance side of the business would be an added bonus. The service would be the driving force behind my business. I have also thought about doing a fleet service maintenance type work. I think tapping into the RV market would be pretty successful. I think there are alot more diesel owners that want just a little more power to haul there camper than than there are people who want to run 10's in the 1/4 mile. I think I could incorporate hitches, bedliners, and bed covers/caps as well. This would add more overhead so its just a matter of making the numbers work.

Thanks for all the discussion, keep it coming!!

Chad

 

My last post got long enough to make me forget , but when I was working in somebody els's shop what I found to be an allaround good idea, was that this guy was doing was to lean heavy on the performance side , we built mud & pull trucks , his own 1st and then go compete , thats realy good adverising and then write it off as that, be your own sponser.
Just a side story for entertainment , he did a lot with the aircood VWs , and he would get people asking for more HPs for the vans in the mountains , and what he ended up with was building the corvair engs , an aposed 6cy, for those that weren't motorheads back then . the last one I saw him build had a preditor carb , a varyable ventury that opened up to 1,200-1,500 cfms , I do not remember whitch , now that got into having fun.

 

I agree with mikmaze. I am notorious for window shopping at real stores to figure out exactly what I want and then buying it online for less. However, everything else being equal, I make it a point to give my business to those whose brains I picked.