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Becoming a used tire retailer will involve you in buying and selling used tires. Used tires are in good demand and it is mostly driven by commercial vehicle owners who always want to save money. Sometimes some non-commercial vehicle owners also buy used tires.
The decision of buying used tires doesn’t affect their know-how about benefits provided by a new set of tires- longevity, better road grip, and better performance. All they want to achieve in using used tires is to save money. They are potential customers for your used tire business.
Before you schedule a time for starting your business, we would want you to look at some advantages and disadvantages associated with a used tire business.
Pros and cons
A used tire shop is comparatively an easy business to start in the automotive industry. Educational qualifications aren’t at all required. Startup expenditure is low and it is also a type of business subjected to low overheads.
You can’t escape certain involved disadvantages as well. The customer inflow isn’t as good as those stores selling new tires. And, getting back your returns won’t come fast as you think but will take some time.
Opening a used tire shop demands diligent planning and organisation skills. When you get started, you will make sure all necessary requirements for your business. Here we have created a list of essentials required by your business.
- Good inspection eyes to ensure you buy good quality used tires from sellers.
- A business plan to make sure you head in the right direction and be prepared for tasks ahead in the future.
- Competition analysis to identify and benefit from your competitor’s weakness and prepare better strategies to counter their threats.
- Business registration with your city authority to get your business license.
- Rent a roadside shop having sufficient space for vehicle parking.
- Ensure good customer services so that good word of mouth is passed to the market.
- Promote your business via local cable networks and newspapers.
Your business’s investment structure will involve – shop rent, furniture, inventory size, utilities, tools, and equipment for tire mounting, demounting, installations, and removals.