Did you know roughly 95% of all American households own a car?
A lot of these people will need to buy parts for their car at one time or another. Following this, if you set up a business that sells car parts, you can make a lot of money.
Here’s a quick look at how you can succeed when it comes to selling car parts. If you follow these tips, your business could go from 0-60 in an incredibly short amount of time.
1. Should You Focus?
If you’re looking to sell car parts, you will need to order in some stock.
Yet, to begin with, you probably won’t have the money to order a wide variety of parts. Furthermore, you may not know what kind of parts you should be ordering, as you might not understand the market that well.
Due to this, initially, you should consider focusing on one specific car brand. This will then make things easier as you don’t have to worry about ordering a wide array of parts.
If you want to niche things down, even more, you might want to focus on a specific car model.
If you’re going to do this, though, consider focusing on a hugely popular model, such as the Nissan Altima or a Toyota Corrola.
2. Sourcing Your Parts
Once you’ve identified valuable car parts that’ll generate a lot of profit, you then need to figure out how you’re going to source them.
Luckily, there are lots of international manufacturers that make high-quality car parts.
If you contact these companies using a platform like Alibaba, they will give you a quote.
Many of these companies will have a minimum order requirement, so you’ll need to save up before working with them.
However, if you don’t have a lot of startup capital, you may want to consider sourcing parts by working with companies that scrap cars.
A lot of the time, cars that are going to be scrapped will still have good parts. If you make a deal with these firms, make sure you can access the cars before they’re crushed, as that’ll reduce the valuable parts to scrap.
3. How to Start Selling Car Parts
After completing the above, you might then be wondering how to sell car parts to an end client.
One option you may want to consider is setting up an e-commerce store. This option is good because you can sell valuable car parts to the whole country, day and night.
However, another option is to contact relevant mechanics so you can become one of their suppliers.
Of course, many mechanics will already have suppliers, so you will need to come up with a convincing sales pitch. For instance, you might need to offer better delivery times or even lower prices.
Will You Sell Lots of Parts?
Because there are so many car owners in America, selling car parts can be lucrative.
That said, there’s lots of competition out there, and you’ll need to figure out how you’re going to stand out.
One way you can do this is by becoming the cheapest supplier of parts for a specific model. You can also offer incredible customer service, which might mean that businesses will then trust you over anyone else.
If you’re looking for something else to read, visit our blog to see some of the new posts we’ve published!