The buyer tends to want immediate, local solutions to their problems and/or needs. By positioning ourselves at the lower end of the market, we will present ourselves to consumers just getting into racing, and we will sell to a base of customers that we can grow with together. (omitted to protect confidentiality the above are all targeted towards the professional (nascar winston Cup, etc.) market. They carry a totally different product mix to service that market. Their prices are high, and their interest in selling to the entry-level market is basically nonexistent. (omitted to protect confidentiality these are both late model chassis builders not targeting the entry-level market. Basically, they stock inventory that's used just on their own cars.
Business Plan, business Plan Templates, business Plan
For the that purely price-driven buyer who purchases parts and expects no support, these firms offer a good option. Others: There are many other channels through which people buy their racing parts, usually variations of the main three types above. Generally, traditional distribution channels are followed. The products are bought from distributors and/or direct from the manufacturers, who have little say in how products are marketed. As in most industries, price levels decrease as volume increases. We feel that racers understand the concept of service and availability, qualities and are much more likely to pay for it when the offering is clearly stated. There is no doubt that we will compete much more against the large mail order outfits than against any small local suppliers. We have good indications that racers/customers would rather pay 5-15 more for a long-term relationship with a vendor providing quality service and support. To this point, the racer thinks about price because that's what he sees emphasized by the mail order companies. Availability is of utmost importance.
Sometimes they will service a local race track; however, they usually carry a very minimal amount of inventory, and are presentation usually operated by a racer or an ex-racer depending solely upon a small circle of friends or acquaintances as customers. They normally are short on business and marketing skills. Engine chassis builders: Typically these are well-respected firms supplying engines and chassis to the racing industry. Their customer profile lies in the mid to upper end of the market. They offer superb technical support; however, it is only available to customers utilizing their engine or chassis. They stock parts to service their engine or chassis, but are usually limited in areas areas beyond that. Normally their pricing structure is slightly above average. Mail Order: The racing industry is served increasingly by large mail order firms that offer aggressive pricing on racing components. They are usually impersonal, and have little or no technical support available.
New tires might be a weekly purchase, and several engine freshening expenditures might be called for in a season. A good whack with at the outside wall, and a racing retailer has a customer or two for shocks, a-arms, fasteners, hubs, and more. Racers spend what it takes to win; they are not out merely to enjoy the ride. Any person who has spent any time at all in the racing pit has heard the guy in front of him in the snack bar line describe how he postponed a key household expense-the telephone bill or a new household appliance-to purchase a new right. To service this sport, there are thousands of small businesses across the country skilled in the ways of horsepower and hooking it to the ground. Whether they make their money from parts or services, retailing or building engines, these businesses make it an easy and convenient matter to go racing. Without these local ambassadors of speed, it is hard to imagine the existence of auto racing in a large scale. We are part of the performance racing Industry, which includes several kinds of businesses. Speed Shops: Most of these are small, sometimes part-time ventures run from the individual's home.
Many have discharged their duties to their children, who have grown and moved on, and now there is money and time again. They turn to something they always wanted to do, or return to the sport they loved, and they go racing. With expanded television coverage and an enormous base of grassroots motorsports activity, auto racing is a thriving industry, as well as the fastest growing sport in America. As with baseball, it could be argued that auto racing has grown to such popularity because of its vital grassroots foundation. Our customers will be the little leagues and softball leagues of auto racing. Outsiders to the racing industry must understand that racers may be the most obsessive consumers of any industry. Because of the pressure to win, they avidly purchase new technology. In most race cars, several parts will become obsolete in the course of a season, even though they function perfectly well. Racers are hard on their investment, too.
Hp computer and Laptop Store
One of the key points of our strategy is to focus on essay target segments that know and understand these needs and are willing for us to fulfill those needs. Trends are in our favor. We have identified four major trends that help us: Motorsports in general, and circle track racing in particular, have experienced explosive growth in the '90s. Most experts attribute this growth to greatly expanded television coverage of motorsports events. This coverage exposes many more potential participants to the sport.
By focusing on affordable entry-level racing, we feel that southeast Racing Parts will be filling a niche in the market. This area has experienced tremendous population growth in the past decade, approximately. As racing and the local population grow hand-in-hand, it should make many more potential customers available. There are a lot of fathers dreaming their son will be the next Jeff Gordon. In fact, there are tens of thousands of serious young kart racers who have chosen this sport over baseball, football, or basketball. They'll be the ones that fill writing the fields in the next decade. Finally, there is the aging Baby boomer generation.
The estimate includes all forms of auto racing: drag, stock car, open wheel, modified, sports car, autocross, formula car, tractor pull, and off-road. Overall it is estimated that the total retail market for hardcore racing products.5 billion annually and it still continues to grow. The only real threat to our venture would be a similar new entry to the marketplace. This opportunity may best be described as one ready and waiting for the first entrant who arrives with a well-conceived plan, sufficient industry experience, and the required capitalization. The racing industry is in a boom period. While there are many items from various vendors available, southeast Racing Parts has approached the market as a specialty retailer - a provider of parts and services to the entry-level racer.
Our target customer in this segment will have a wide range of racing and automotive skills, but our most important target customers are relatively unsophisticated at racing. We will be able to serve this customer well not only by offering them parts at an affordable price, but also by giving them advice that ensures they get the task done correctly, therefore improving their on-track performance. Our segment definition is in and of itself strategic. We are not intending to satisfy all users of racing equipment, but rather those who are just starting out and those who are struggling to keep. We can save our customers time and money, not so much within our pricing structure, but by assessing their needs and directing them toward the proper product. Racers, by nature, tend to desire a high-end product, when often a low to mid-end product will do as good as, or sometimes even a better job. By always dealing in an honest and ethical manner, we will build customer loyalty and word-of-mouth sales that many of our competitors are lacking. Since our target market is the entry-level racer, the most important needs are service, price, and availability, in that order.
Howard Mutual, home, auto, commercial, business, farm
Auto parts Store Investment, if you do not have adequate cash you should incorporate the friend total investment you are going to require and furthermore involve the breakdown of the parties that are going to bankroll the investment. Include the equity being given away to fund this or loan agreements in order to finance the arrangement. Will you require a small business bank loan? If you cannot get a bank loan don't worry there are alternative methods for funding your Auto parts Store business. Auto parts Store business Plan Page 2 Custom search Useful Auto parts Store resources Auto parts Store marketing Plan auto parts Store Equipment auto parts Store Online find a different business plan. Home - 0 - a - b - c - d - e - f - g - h - i - j - k - l - m - n - o - p - q - r - s - t -. Market Analysis Summary go to: Table of Contents, next Page - currently, the market for racing parts and accessories is rapidly expanding. Performance racing Industry completed an estimate for total number of racers. The resulting number was 385,000 people who competed in an organized auto race at least once in the past year.
Start-up Summary for your Business, before you start trading it's a good idea to have a business bank account and you are also going essay to have to choose a new name for your Auto parts Store business. Before you can plug any services or products you need to write down exactly all of the equipment you are going to need and if you are going to require any funds in order to pay for all of these items. You might require to play down your start-up summary depending on your economic condition - so you may perhaps prefer certain. Auto parts Store equipment nevertheless not be able to come up with the money for it until you have sold several units of product / service. Auto parts Store Start-Up Costs, this is a basic list of things you need to buy and things you can bring into the company if you already have possession of them before your Auto parts Store business can come into being. If you don't have sufficient money you ought to also add in who is going to offer this capital to get your Auto parts Store business going. Visit this page for more typical start up costs.
luck. Even if your remedy is just that you are going to put more effort in than the next person - then at least that is t you'll need to back it up with some attestation especially if you are looking for investment in your Auto. Company summary, here you should write a simple arrangement of your business over the next 3 years unless you have a long term plan. Company Ownership, basically put in writing who is going to own the auto parts Store business and allocation of share ownership and voting rights for and allocation of share ownership and voting rights for those shares - it is fairly regular for somebody to possess. You must express if the company is a limited company, private, public or if you are a one man band. Not sure which business structure to go for? Where is your Auto parts Store business going to be trading from and why are you going to be trading from this site - you may well not be able to give a pinpoint address at this near the beginning stage but you ought. It's by and large simple to get premises for any auto parts Store business particularly in this climate with so many businesses folding, but getting the decent business premises for the right money is a different prospect entirely. Read more about business premises.
The auto parts Store executive summary ought to mention the chief leading roles who are ready to help manage the business and produce the returns for summary the investors and if any additional management will be needed in the procedure. Click here for more free advice on how to write your executive summary. Auto parts Store Objectives, as the executive summary more often than not includes the breakdown of the first 3 years - your objectives should as well be set out for your first 3 years of operation - this might be a small number or may. Auto parts Store mission. Various people see objectives and mission as the same thing but they are not - objectives are there for you to meet your mission. The final mission of any business ought to be to sell it! If you can build your Auto parts Store business up to sell it at the same time as retaining a quantity of shares then you will have achieved victory. To accomplish your last mission you will in all probability need some smaller missions - these could be to attain a certain amount of earnings, to reach a certain number of clients, to retail a certain number of units of a product or service and. Check out some of these example mission statements before you have a go at writing your own mission statement.
Sponsorship proposal - africagrowth Institute
If you are starting an Auto parts Store business then it is wise for you to write an Auto parts Store business plan. If you want capital for your business this will assist you with it and even if you are fortunate to have an adequate amount of money to start-up your own business then a business plan will support you in your business approach. This will increase the probability of your business being a triumph, which cannot be a bad thing. Your plan ought to consist of the following. Auto parts Store Executive summary, your Auto parts Store executive summary ought to be written friend last after you have done all the ground work in preparation of your business plan - it is after all intended to be a digest of your business. This is the page that will grab the awareness of the reader and make them know what your Auto parts Store business is concerning. By and large it ought to provide the person who reads it three years highlights of your business or longer if you have a more long term business plan -. When the investor(s) are liable to start seeing some revenue on their investment.