How to Run a Successful Motorcycle Store

Investors interested in motorcycle related business need adequate information to start the enterprise. Common parameters include startup finding, legalities and marketing. Others are defining a target market, finding an ideal location and growth potential.
The individual needs to determine which sector of the industry to operate. They could concentrate on sales of spare parts, wholesale, retail or manufacturing. Other areas are repairs, servicing and sales of new or used bikes.
Things to Consider
Things to consider before launching the business are writing a business plan and carrying out a feasibility study. You need a business overview, growth and earning potential.
There is also, fixed and working capital including legal consideration. More include ideal location for the business, staff strength, type of motorcycles to stock.
Business Overview
The business overview should cover growth potential, profit making and target audience. Factor the daily operational activities, staff credentials.
Like any automobile they require regular maintenance and service. They need replacement parts, fuel and accessories. The entrepreneur can decide to sell used or new bikes, accessories or provide a service.
To run a successful store you need passion and good knowledge of the industry. Training is also important including interpersonal and sales skill.
Motorcycle Store
10 Tips to start Motorcycle Shop
Motorcycle repair and maintenance is a huge industry. An investor interested in the business needs to have the required skill or hire competent mechanics. The job involves repairs, sales and maintenance of 2 wheel vehicles.
To succeed there most be a demand for your services. Make sure you carry out a survey and write a business plan. The business requires specialized skill, training and business knowledge.
The market is for bike owners/riders and practicable full or part time. Thinking of starting a motorcycle repair business then here are 10 tips for success.
1. Write a Business Plan
Write a motorcycle shop business plan and carry out a feasibility study. The plan should cover store location, equipment, inventory and utilities. Others include staff, legalities, service delivery and marketing.
2. Learn the Trade
The first step to launching the business is training. There are some diploma and certificate courses for technicians. Higher degrees are Bachelors degree in mechanical engineering and Masters Degree.
The person could be self taught, gain work experience or try an apprentice program. Learn from manuals, online courses, technical college and other store owners. You need good business knowledge, organizational skill and good customer relations.
·         diploma and certificate courses
·         formal training
·         self taught
·         gain work experience
·         apprentice program
·         manuals
·         online courses
·         technical college
3. Skills Required
The skills required to run the store include technical knowledge of motorcycles. You need mechanic skill, organizational skill. A kin knowledge of different brands of bikes is an added advantage.
4. Job description
The job description involves sales, servicing or repairs. Daily activities include administrative duties, accounting, and customer service. You need proper store management, accounting and appropriate marketing.
The business should target commercial riders, motorcycle owners. You can stock different parts, sell safety helmets, sunglasses. Another huge market to explore is motorcycle accessories. Make sure you have a well stocked shelve to handle repairs and sales.
5. Startup Capital
The startup depends on the amount of inventory, rent and staff wages. You need a workshop space and front store. Other cost considerations are equipment, parts and tools. To reduce costs purchase in bulk directly from wholesalers or manufacturers.
To access funds approach a commercial bank in your area. You can try saving, borrow from friends and family. Another way is to offer a partnership arrangement or find a core investor. Startup cost based on different parameters for a small business is from $1000 to $5000.
6. Purchase Equipment
Make sure you purchase only quality spare parts and equipment. There are many ways to source for equipment. You could purchase directly from manufacturers or major appliance stores.
Spare parts should be bought in bulk or sourced from partner stores. Common equipment is hydraulic lifts, compressors, hand tools, charger cables/equipment.
7. Hire Staff
The amount paid to a technicians range from $25,000 to $40,000. An average store needs about 2 technicians, an accountant, sales person and cleaner. It is possible to run a small store alone.
8. Legalities
Register the business as a limited liability company. You need liability insurance and tax identification number. Some spare parts might attract value added tax. Make sure the technicians are adequately trained and certified to carry out repairs.
9. Setup a Customer Relationship Management System
To inform customers of new service packages, discounts and coupons you need a way to reach them. There are different ways to gather information from customers.
You could offer them a form that includes vehicle type, email address. Other valuable information is mailing address, phone number and service type. 
The information is then added to a customer relationship management system that runs automatically or manually. The system provides valuable information on customer service history and type of vehicle.
It stores personal information such as email address, name and customer preferences. To setup the system you need a computer, internet access and management software. The system sends emails to customers in the data base tailored to their specific needs.
10. Marketing Budget
It is important to develop a marketing budget. The budget should cover print and electronic media advertisement. Print involves flyers, posters, and banners. You need a large signboard in front of your store.
Other costs include development of website, online marketing and management of social media account. You can use word of mouth, community activities and yellow pages. Don’t forget to use local newspaper advert to attract patronage.
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