The 21st-century is witnessing an explosion in motorcycle spare parts. The latest models of two-wheelers are becoming more affordable due to the big manufacturers, specifically from China. The increase in sales of these bikes was also helped by the growing usage of two-wheelers among young individuals as commercial automobiles. The increasing number of commercial drivers has opened up new opportunities for business in the motorcycle spare parts. Entrepreneurs from all walks of life have joined this lucrative and rapidly growing industry. The business involves selling spare parts of motorcycles wholesale or through a retailer to motorbike enthusiasts.
The Business Plan
The plan should include plans for financing hiring, staffing, purchases, location and merchandising our business. The plan must include the necessary guidelines to begin a business. We can depend on bank loans on the strength of an extensive business plan. A professional can assist you to prepare an effective business plan. The accounting procedures, stocking and inventory details etc must be included in the plan. Clicking here to find out more about motorcycle right now.
Permits and Business Licenses
The company must be registered and then obtain an official license for business. You may find many associations and unions that deal with dealers of spare parts in your area. To avoid being harassed, locate them and join them. Sometimes, we require special permits to handle hazardous materials like diesel or engine oil. Ask the concerned people (people with a good knowledge of these issues) for more details.
Information on insurance
Choose the best insurance plan for your business to reduce risk and liability. There are different kinds of insurance assigned for different sectors, especially for small companies in India.
The Sectors of Trade
The business involves selling new parts or used parts. Although most dealers are only involved in one area there are a few deals that can be made with both. We have the ability to manage all aspects of the business to bring in customers. But, it’s important that customers are fully aware of what they are purchasing.
A reputable wholesaler or manufacturer is necessary to manage the retail side of your company. Before making a decision, it is recommended to consult a reputable wholesaler. Purchase the product directly from the manufacturer.
Finance
A businessperson needs adequate finance for running his business. He/she can apply for loans from banks or other financial institutions. Other ways to secure finance include contribution schemes and loans from cooperative societies.
Entrepreneurs can seek out a core investor, or sell an equity stake in his venture. They can also choose partnership or selling ordinary shares of the company.
The Trade Pattern
There are many spare motorcycle parts such as the headlights and cylinders as well as seats engines, engine blocks, and engine blocks. Do your research on these parts, and make sure to only stock the parts that are commonly used by commercial motorcyclists.
It is better to consult an independent dealer for spare parts or a motorcycle mechanic to know about the widely offered parts within our area.
Business place
This type of business can be found in an auto mechanic shop. It guarantees a lot of income.
The shop can be set up in an area with a high density of people. We can comfortably warehouse the majority of the merchandise in another secure location, and display only the items that we have in our store. The busy intersections or markets are also suitable for locating our store.
The stocking of spare parts
Always make sure to have spare parts that are able to have a quick turn over and are used frequently, eg: tires, motorcycle tubes and shock absorbers.
Other components include helmets, seats; the gear levers, exhaust pipes; rims and clutches; brake pads, tanks for petrol; headlamps; bike frames, and other parts.
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