START A TYRE SHOP BUSINESS SUCCESSFULLY

July 20, 2020 Hansie Britz

                                        

There are some businesses that someone can start with little schooling and no serious business background and training necessary. One of them is a tyre retailing shop. The basic things you would need to have in place to make a success is a good location, easy access to the supply of quality tyres and good customer service skills.

The automobile industry is ever evolving, but tires have remained consistent – and a tire shop is a proven and effective business model. Many different niches exist within the tire industry, ranging from retail to repair.

LOCATION

The location for your tire business will require space to house some vehicles and/or trucks. At least one garage bay is required but multiple bays with high clearance increase your earning abilities. Purchasing the space is ideal as an investment, but leasing is common, especially for a new business with limited capital. A high visible location increases natural foot traffic.

MARKET RESEARCH

Always do proper market research before investing in a location. Assess the population base, vehicles on the road and the competition. The tyre business is often safe because every vehicle on the road requires tyre service. It is however important to understand the dynamics in the local economy. For example, a small town with a stable tyre business is a difficult market to penetrate while an urban or growing area with high traffic has more potential. While conducting market research, assess the pricing offered by competitors and work through your pricing strategy.

SERVICE OFFERINGS

The tire business has niches that include repair, retail, mounting, balance and alignment. Some shops even offer some mechanical work to varying degrees. Brakes, U-joints, idler arms and front end parts are often in need of repair, and the shop can quickly examine and quote the additional work while increasing billable hours and profit margins.

MARKETING

When your tyre business is set up, licensed, and launched, you may receive some traffic, but proper marketing will increase traffic, sales and revenue. Advertise locally, set up a website and get the business listed on GOOGLE’S local business search. Customers will find you, utilize your service and leave reviews through this platform.

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