Looking into setting up a performance parts company
#1
Hello,
Due to a few circumstances that i won't go into on the BBS i am looking into setting up a company providing performance products, exhausts, air filters etc.... plus car audio equipment.
Just wondered if anyone can give me any pointers.
This is my passion and not many people are doing this in my area.
Your help/support would be greatly appreciated.
Cheers
Iain
Due to a few circumstances that i won't go into on the BBS i am looking into setting up a company providing performance products, exhausts, air filters etc.... plus car audio equipment.
Just wondered if anyone can give me any pointers.
This is my passion and not many people are doing this in my area.
Your help/support would be greatly appreciated.
Cheers
Iain
#3
Ian,
They're many things that need to be taken into consideration, if you have any specific area's where a little help is needed, then ask a specific question, I'm sure you'll have lots of feedback.
However take care of free advice, after all, it's free...and you don't get owt for nowt ! [Yorkshire lingo off]
Paul M
They're many things that need to be taken into consideration, if you have any specific area's where a little help is needed, then ask a specific question, I'm sure you'll have lots of feedback.
However take care of free advice, after all, it's free...and you don't get owt for nowt ! [Yorkshire lingo off]
Paul M
#5
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Iain,
Sorry to sound like a damp sponge but if you have to ask these questions are you in a position to be ready to start in the first place?
I don't want to be negative but I have seen a lot of people fail when their hobby/business dosen't go as planned due to lack of business skills.
You may have hidden talents that I am unaware of
Ian
Just my 2p
Sorry to sound like a damp sponge but if you have to ask these questions are you in a position to be ready to start in the first place?
I don't want to be negative but I have seen a lot of people fail when their hobby/business dosen't go as planned due to lack of business skills.
You may have hidden talents that I am unaware of
Ian
Just my 2p
#6
Scooby Regular
Iain,
On a more positive note, I think the country needs more small businesses where owners are passionate about the products they sell.
OK, so a lot won't make it past the first year, but at least people are still willing to give it their best effort.
Certainly get as much business advice as you can, it's a sure fire way of loosing a lot of your own money if you don't.
Good luck,
Stefan
[Edited by ozzy - 4/4/2002 2:40:56 PM]
On a more positive note, I think the country needs more small businesses where owners are passionate about the products they sell.
OK, so a lot won't make it past the first year, but at least people are still willing to give it their best effort.
Certainly get as much business advice as you can, it's a sure fire way of loosing a lot of your own money if you don't.
Good luck,
Stefan
[Edited by ozzy - 4/4/2002 2:40:56 PM]
#7
ian
i pretty much run the company i'm working for at the moment, so i think i know what to do.
Thanks for the advice anyway
I just really wanted some friendly support i suppose (feeling a bit at the mo)
Cheers
Iain
i pretty much run the company i'm working for at the moment, so i think i know what to do.
Thanks for the advice anyway
I just really wanted some friendly support i suppose (feeling a bit at the mo)
Cheers
Iain
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#8
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Be happy Iain, I'll buy something from you!
Judging by my brothers success (his just turned 20 and his hobby is now a rapidly growing Equine Supply business) if you're prepared to put in the hours you should go for it...I think contacts and suppliers are the critical things though, but if you've got them you'll be fine IMHO!
Jen
Judging by my brothers success (his just turned 20 and his hobby is now a rapidly growing Equine Supply business) if you're prepared to put in the hours you should go for it...I think contacts and suppliers are the critical things though, but if you've got them you'll be fine IMHO!
Jen
#11
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Dunno about anyone else but i gladly pay the tuppence extra to a small friendly firm.
The service you receive is (usually) far better and quicker than that of the bigger car companies and advice on what to buy is normally based on knowledge as opposed to surplus stock at the time.
Best of luck Ian, i hope your venture works out
Paul
The service you receive is (usually) far better and quicker than that of the bigger car companies and advice on what to buy is normally based on knowledge as opposed to surplus stock at the time.
Best of luck Ian, i hope your venture works out
Paul
#12
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I prefer small passionate firms to the big conglomerates (sp?). If you are enthusiastic about your products, you will know your products and be able to offer good advice, which to me, is priceless
Good luck
Am I going to need to get a spaceship to visit your new shop/venture on button moon?
Good luck
Am I going to need to get a spaceship to visit your new shop/venture on button moon?
#13
Ian - are these just scooby products or for anything (astra/106/orions). I think there is a definite need for another dedicated scooby parts supplier - esp given the recent comments around Scoobysports fall off in standards as they're so busy.
There's only - what TSL, scoobysport,prodrive, scoobymania - surely there's room 4 one more and if you do it right you'll be onto a winner. I think people who set up their own businesses have real ***** and good luck to you. A mate of mine set up a chauffeur drive business 2 yers ago at 26 and is now employing 8 people and hiring more because of the work.
The key thing as you know is putting a coherent business plan together that shows you've thought through your market/costs etc b4 you go to the bank tho.
There's only - what TSL, scoobysport,prodrive, scoobymania - surely there's room 4 one more and if you do it right you'll be onto a winner. I think people who set up their own businesses have real ***** and good luck to you. A mate of mine set up a chauffeur drive business 2 yers ago at 26 and is now employing 8 people and hiring more because of the work.
The key thing as you know is putting a coherent business plan together that shows you've thought through your market/costs etc b4 you go to the bank tho.
#14
Thanks for all you kind comments.
As of today i have registered a domain name and e-mail services, and the next stage is to contact my initial potential suppliers and talk prices.
I have set-up an 'under construction' page on my site so that i can see what my logo looks like on the net, and it looks IMHO .
I am at present working on setting up the company in the morning (7:00am to 9:30am) and then over to the family business for my normal day (cuz i need the income to set it up).
It will be small scale to start with, and more money will be invested as it begins to grow.
All the support is greatly appreciated and i will keep you posted.
If anyone would like to see the logo please e-mail me off-line.
Cheers
Iain
As of today i have registered a domain name and e-mail services, and the next stage is to contact my initial potential suppliers and talk prices.
I have set-up an 'under construction' page on my site so that i can see what my logo looks like on the net, and it looks IMHO .
I am at present working on setting up the company in the morning (7:00am to 9:30am) and then over to the family business for my normal day (cuz i need the income to set it up).
It will be small scale to start with, and more money will be invested as it begins to grow.
All the support is greatly appreciated and i will keep you posted.
If anyone would like to see the logo please e-mail me off-line.
Cheers
Iain
#17
Hi,
Christian, i have spoken with Jamie and i suppose it was his experience which got me thinking, earning some extra money from a passion ,and to then progress onto full time income from a passion .
This is something i have wanted to do for years and maybe i should stop dreaming and start doing.
Chars
Iain
Christian, i have spoken with Jamie and i suppose it was his experience which got me thinking, earning some extra money from a passion ,and to then progress onto full time income from a passion .
This is something i have wanted to do for years and maybe i should stop dreaming and start doing.
Chars
Iain
#18
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Iain - good luck if you get the venture going. The wife & I were discussing this a few months ago after I kept complaining about crap service before & after sales for the last 10 years
I also agree with the guy who said I would pay that little bit more even if I got friendly sales from someone who is passionate about their cars.
oh & by the way can you open you first one in wakefield
shunty
I also agree with the guy who said I would pay that little bit more even if I got friendly sales from someone who is passionate about their cars.
oh & by the way can you open you first one in wakefield
shunty
#20
Scooby Regular
iTrader: (13)
Go for it!!!
I write marketing and business plans for a living. I have have been invloved in successful businesses and more importantly ones that have failed - you learn a lot from your mistakes.
I know it is common knowledge but poor cash flow is the main cause of business failure. Despite how good and passionate you are about an idea - which are great things. So keep an eye on that cash flow.
I really wish you the very best of luck
drop me an e-mail if you want any more advice.
Best wishes
Steve
I write marketing and business plans for a living. I have have been invloved in successful businesses and more importantly ones that have failed - you learn a lot from your mistakes.
I know it is common knowledge but poor cash flow is the main cause of business failure. Despite how good and passionate you are about an idea - which are great things. So keep an eye on that cash flow.
I really wish you the very best of luck
drop me an e-mail if you want any more advice.
Best wishes
Steve
#22
Market for performance bits will dwindle over the next few years I'm afraid. All to do with MIL lights, MOTs and Euro-regs.
Good luck if you decide to set up but be aware that your market may not exist very soon.
Good luck if you decide to set up but be aware that your market may not exist very soon.
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