Do you love cars? Do you dream about gearboxes and oil changes? Do you have a knack for buying and selling cars? Fancy being a chauffeur? Would your private desert island getaway involve a racetrack around it? If the answers to those questions are all ‘yes’, you might just be the right person to start an auto business. However, there’s a big difference between knowing you love something and committing to the long days and nights required to get a ‘labour of love’ style startup off the ground. Besides, it’s not always going to be car parts and elbow grease that fill your working day…
Income Streams
A business that struggles to accept payment is not going to succeed. But have you given any thought to how you will provide your customers with a reliable and secure means of payment? Are you planning to rely on a small tin moneybox? What you need is an online payment method that won’t let you down. For example, check out freshbooks.com for Stripe payment options.
Once you are set up with a robust method of accepting payments, you can carry out every customer transaction. From the smallest one-off transaction to large and regular payments, you will never miss out on any amount of money that you are owed. Make sure you are set up professionally from day one or you could potentially miss out on a wide range of income opportunities.
People who fail to set up payment options often find they must wave off small tasks for free when the customer wishes to pay by card and you have no way to process digital money. These business owners convince themselves it’s all good for client retention – don’t fall into the trap of accidentally having to work for free when you realise you can’t process payment.
Go where the Trading Opportunities are Strong
You may have your heart set on a particular style of business related to all things auto. From body repairs and upgrade work to paint jobs and even building cars to order. Whatever your dream auto business, you should know that the ultimate success of your idea will hinge on whether your brand is centrally placed in an area of high demand (or at least as close to being centrally located as you can get).
This may go without saying, but an ice cream shop on the moon isn’t going to sell much ice cream! Likewise, an auto shop in a small town that is more than an hour’s drive from a large population centre is not likely to thrive. You need market research to uncover the types of auto industries that are popular in certain areas. Expensive sports cars are unlikely to be popular outside of built-up affluent areas whereas more rural lifestyles may place a high value on replacement tyre options for gripping unpaved surfaces in winter.
Understanding the demand for auto services (and scouting a suitable site from which to run your business) can be paramount in turning your dream of starting a successful auto business into a reality.
