I've currently got this crazy little quirk in my head that I want to start an online business for automotive audio or auto aftermarket performance products. If I do go aftermarket performance I would be selling a mix of stuff for Mazdas and Hondas (currently own a Civic will own an RX-8).
I was wondering does anybody on this site own there own business? And if so are you willing to share with me some tips that might help me along my quest.

Strider-

I helped set up a medical practice about a year ago. My previous partner and I have since split, but I know a fair share about getting them going and keeping them running.

First thing you need to do (obviously) is figure out if anybody wans to buy/utilize your product/service. It can be as complicated as market analysis or taking some polls. I am not the one to ask these......everyone needs a doctor at some point.

Once you figure that out, you need to start thinking details. That's when we get to the:


BUSINESS PLAN!

Basically this is a large document that proves to the bank that you know what the hell you are talking about. It includes things like target market, marketing, vendors, etc etc etc. There are MANY good books on how to do this. I suggest you get one of those.

It not only gets you in good with the bank but gives you focus on what and how you want to do it. It includes several dilbert type things like mission statements, goals and other things. They can be valuable or not depending on how you do things.

Remember, without financing there is no business.


Does that give you some direction? If you want more info, let me know.

Aesculapius, thanks. That helped a bit and will once again put me closer than I was before.
One, of many things, that concerns me is that I'm currently inrolled in college (full time) and working.
I plan on talking to my boss to see how he got his business started. I have something like 30-40 questions already that I have and think of more as each moment passes. I don't like to do things unless they are done right.

Keep the info coming!

also... with keeping to the 'is there a market for this':
Fellow RX-8 Forum members... would you rather see either audio or performance for sale at a good cost?
My goal in the beginning is to undercut (as much as I financially can) the rest of the market while building a customer list and working on possible PR (if possible on an internet site).

Strider-

I own this site along with running www.rx7store.net and a few others.

I can say its a tough market and if you dont have cash to sink into the business dont bother trying. There is so much competition these days.

Jason

Originally posted by Strider
Aesculapius, thanks. That helped a bit and will once again put me closer than I was before.
One, of many things, that concerns me is that I'm currently inrolled in college (full time) and working.
I plan on talking to my boss to see how he got his business started. I have something like 30-40 questions already that I have and think of more as each moment passes. I don't like to do things unless they are done right.

Keep the info coming!

also... with keeping to the 'is there a market for this':
Fellow RX-8 Forum members... would you rather see either audio or performance for sale at a good cost?
My goal in the beginning is to undercut (as much as I financially can) the rest of the market while building a customer list and working on possible PR (if possible on an internet site).

Strider-

I see businesses startup all the time and their goal is to undercut everyone, thinking that is the best way to sell product. Those are the ones that are out of business the fastest.
The ones that stay open are the ones that have a physical location, have alot of inventory and spend money to advertise.
People are willing to pay more for product if you have it in stock.

Jason

Good service and prompt shipping/feedback is key also imo.. There are a lot of complaints from people dealing with online parts shops.

Originally posted by Jason
...People are willing to pay more for product if you have it in stock... Yeah, it's funny to see some people moan and complain about someone selling a common $200 part for $2 more than someone else (and calling it a rip-off), then they'll end up spending extra money on someone who has it in stock, and even more to get it the next day.

It's that immediate gratification that gets most people. We're so spoiled in this country...

---jps