The automobile industry is one of the major industrial and economic force throughout the globe. The world already has around 1.5 billion cars running on the road with around 60 million cars and trucks that are manufactured in the market on a yearly basis. With these statistics, we get the idea of how magnanimous this industry is. As there are many technological advancements also happening side by side, the automobile industry is inculcating the new technology to build more advanced and robust cars than ever before. Cars are now faster, luxurious, and more comfortable than they have ever been. But to keep these cars moving and running like they are brand new; you need accessories that will ensure the car’s performance is at its best. Automobile accessories can be used to maintain or improve the performance and comfort of your car and people are always interested to build those small comforts and don’t shy from spending on them and as a result this automobile accessory business is a very attractive prospect for those interested in setting their feet in the business world.
To understand more about the automobile accessory business first we need to what products are considered as automobile accessories. The exterior and basic accessories include Tires, Body of the Vehicle, and small mechanical parts. These are essential in any automobile. The non-essential exterior accessories include spoilers, sports mirrors, window visors, car covers, sunroof, wiper blades, and many more. The interior accessories include dash cover, shifter knobs, steering wheel covers, car seat covers, mirrors, window tints, music system, floor mats, and even the fire extinguishers and air fresheners. These are not considered essential but are required for the optimum comfort of the driver and passengers. This is just a list from a huge range of products that come under the automobile industry and they are always in demand because people like to keep their cars in their best condition and that keeps the automobile accessory business running.
Let’s have a look at how you can set up an automobile accessory business:
Decide on product
There is an array of products that are available in the market, you have to first decide what are the products you are want to sell. The business will expand and the list can always increase but decide first what is your introductory range. Know the types of cars that are in your locality, keep the accessories for most popular brands such as Suzuki, Hyundai, Honda, etc readily available with you.
Decide on size and type of business
The business has a lot of scopes to grow but keeping in mind that your initial investment and capacity to arrange resources, decide the initial setup of your automobile accessory business. Whether it is going to be a big fancy store or a small kiosk, in a small local market or high-end mall. Decide if you want to keep an offline store or are you ready to invest your time and money by introducing yourself in the e-commerce market.
Have the right distributor
Make sure you have a distributor who can easily make you available which the supply whenever you demand them and have access to the latest technology and designs that are launched in the market. If you want to run an automobile accessory business, you should know that customers should not go empty-handed just because you did not have that product available on that day. Along with that, they should rather be tempted to buy more products that are showcased by you.
Location and storage space
It is obvious that you will have to rent/ buy a place where you can store your product and display them. Keep in mind that the location of your store matters a lot. A market place with high footfall is always in big demand. You can rent a place near an automobile repair shop so that whenever customers visit the other shops, they are more likely to see your shop too. When you are renting a place, be aware of the competition around. Try to locate yourself when there are lesser automobile accessory shops.
Also, keep in mind the storage capacity of your store. The products should be placed in an attractive manner so that customers are more willing to buy them. You most likely will be required to have a go-down once your business expands.
Social Media is used by almost everyone around the globe. It is almost certain that at least one person in your locality must be using any social media platform. Putting up pages on Facebook and Instagram and asking youth in youth in the locality to share it amongst friends, developing a strong SEO, and investing in marketing offline can bring great audience attraction to your new automobile accessory business. Putting up ads with discounts and amazing offers are always a plus. Along with online, spending on offline methods to propagate business is necessary. Go old school and hand our pamphlet whenever a customer arrives. Since you have an offline store and most customers will save your number for future reference, you can invest in WhatsApp Business and use its marketing tools to propagate your business. It is convenient to use and digitally provides a personal touch as the medium is one to one messaging which has become one of the best provisions of converting prospects to customers. Remember to greet them nicely and make them feel important.
To open any business, one should be ready to work hard and show a lot of perseverance and determination. Any business will have good and bad days but it depends on the owner how they want to go about it. Your automobile accessory business is going to be the same. Don’t get overwhelmed and enjoy the process. All the best!