Interested in small tire shop business ideas? If YES, here is how to open a tire shop business with no money and no experience. How much does it cost to start up?
How to Start a Tyre Store Business
If you love cars and everything that has to do with it but you don’t have the necessary fund to open a mechanic shop, you can alternatively open a tire shop. Starting a tire shop business requires less hard work and it is as profitable as a full vehicle or service repair business.
If you are having problems starting a tire shop business, here is a complete guide to assist you in starting one in your locality. Tire is as important as every other part in a car. No car can move without tires and car owners want to run with a good tire.
Tires suffer most of the damages in a vehicle which calls for the services of a tire shop to help assist car owners with good tires. The best thing is that, you don’t need large capital to start a tire shop business. You just pick a good location, get a jack and few equipment and work your ass as your business grows.
The starting process can be fun and exciting and rewarding too. Tire business goes beyond just selling. You can deliver so many services like alignment and balancing, air pumping, fixing up punctured tires, oil change etc.
If your one of your goal is to start a tire shop business, here are what you need to know to get started;
HOW TO OPEN A TIRE WHOLESALE BUSINESS
Draw up a Business Plan
Drawing a business plan for your tire business is one key to get started in the business and in any business. Investors won’t even consider giving you loan if you can’t show them a business plan for your tire shop business.
Another good thing is, while preparing your business plan, it will force you to start thinking about important factors to consider in your business. Please, don’t skip this process. While drawing your business plan, be certain about your target customers, your competitors, marketing strategies, company’s name and financial requirement.
Be Grounded about Tire and Vehicle Servicing
Having a good knowledge about the business you are going into will be a good start for you. Tires and wheels come in different sizes, shapes and prices. There are tires for sport vehicles, trucks and commercials vehicles. You should know about them so you don’t look like a novice in front of your customers.
The best way to learn about this is to either go learn from a successful existing tire shop dealer where you have to work for the owner or you spend enough time at where you will always be making purchases to ask questions.
Evaluate your Competitors
To be assure of the success of your tire shop business, you will need to evaluate your competitors in the vicinity you wish to site your business. Don’t just pick a location before doing this, it is very paramount if you want to start seeing good result at the start of the business.
It is better thinking of how you can grow your tire business than thinking of how you can beat your competitors. If there is a well-known competitor in the town you would like to site your tire store, it will be very hard for you.
Notwithstanding, you will still make money but it will take time to build relationship and trust with your customers and grow your business. Have it in mind that your customers will want to compare your services with their former before they can trust that they will patronize your business.
Pick a Location
The ideal location for a tire shop business is a busy road that is accessible by trucks and commercial cars and maybe close to a gas station if possible.
You will have to obtain necessary licenses and documents needed to operate a tire shop business before you get started to avoid any government agency distrusting your business operation.
Decide on your Niche
You have to decide if you want to be selling new tires, old ones or both. And establish a good relationship with tire suppliers (manufacturers or wholesalers). Good tire brands include Michelin, Good Rich, Good Year, BF. Get the necessary tools and equipment like wheel balancers and handlers too to get those tires fixed properly.
Apply for Business Insurance
Apply for business insurance to protect your business against unforeseen circumstances like fire and theft.
Market your Business
Your clients need to know that your business exist. Market and promote your tire shop business to attract customers to you. You will need to have a budget for this. Offering discount to your first-time customers is one good way to spread the news about the existence of your tire shop business and it location.
This is all you need to start a tire shop business in your locality and make good money out of it.