Talking about Tire Store, the business of tires is included in the list of very important and prominent businesses in the automobile sector. Therefore, whenever a person thinks of starting a business from the automobile sector, he must also think about a tire shop once. Although the category of tires generally operating in the world can be broadly divided into six categories on the basis of vehicles. Including car wheels, bus wheels, motorbike wheels, auto wheels, truck wheels, etc. Since at present the number of vehicles on the roads is continuously increasing and no vehicle can be imagined without tires. Therefore, if you are thinking of starting a retail business in the automobile sector, then the business of Tire Store can be suitable. However, the entrepreneur will also have to provide facilities like car equipment and tire balancing at his shop so that the customer does not hesitate to come to the shop of the entrepreneur.
How to Start Tire Store Business
Before starting a Tire Store, the entrepreneur has to get information about different categories of tires. Apart from this, the entrepreneur also has to gather information about his competitors, etc. in that particular area.
do market research
The first step that needs to be taken in the direction of starting a Tire Store Business is the work of market research, under this process the entrepreneur has to take stock of the demand of the local people where he wants to do this business. And also it has to be assessed that who and what kind of vehicles are mostly with the local people there. Public transport also has to be assessed which type of vehicles are mostly in use in that area. It is mainly seen that tire stores generally do more business in towns and cities. Apart from this, if this shop is on a busy highway, then this thing also affects this type of business. Therefore, first of all, the entrepreneur needs to assess the local demand, competition, most vehicle types,s, and locations, etc. through market research.
Which inventory the entrepreneur will keep in the tire store will depend on which vehicles are mostly with the people in that particular area. And which vehicles move more in that particular area. If the entrepreneur wants, he can sell the tires used in all types of vehicles like two-wheelers, three-wheelers, four-wheelers. As far as inventory is concerned, it will depend on whether the vehicles operating in that particular location are new or old. Generally, new vehicles do not require the replacement of tires, etc. If the entrepreneur wants, he can sell not only tires but also rims and tire tubes in his tire shop.
Select Types of Tire Shop
There can be many ways to start this type of business i.e. Tire Store, that is, if the entrepreneur wants, he can start his own store where tires of almost all companies are available. Apart from this, the entrepreneur can also start this business by taking the franchise of a famous tire company. However, most tire shop owners currently prefer to sell tires from different companies. Therefore, to start a tire store business, the entrepreneur has to decide whether he wants to take the franchise of a famous company or wants to earn money by selling tires of different companies.
As for other retail businesses, having a good location is also very important for Tire Store. That is to say, whether the tire shop will be successful or unsuccessful, depends on how the location is. The entrepreneur should choose a location that is situated on a busy highway road, apart from being easily visible from the road. Apart from this, the entrepreneur can open his shop near any petrol pump or near the gas station where the vehicles keep coming for refueling. Apart from this, the entrepreneur will also need different equipment and the place to store them, so special care should be taken while selecting the location. If the entrepreneur wishes, he can hire an interior designer to prepare the floor plan. Because in this the entrepreneur has to decide everything like office, storage, equipment installation, waiting area for customers, etc.
Required license and registration
Although do not register this type of retail business with the Registrar of Companies, but as per the local rules, do get a trade license from the local authority. However, if the entrepreneur wishes, he can register his business as a proprietorship and can also register under the Shop and Establishment Act and Udyog Aadhaar. An entrepreneur may also require tax registration like GST registration etc. Apart from this, the entrepreneur can also start this business by taking distributorship of a famous tire company. An entrepreneur is also required to do domain registration in the name of the business so that he can do online marketing by creating an online presence for his business.
Buy Inventory, Equipment & Tires
If we talk about the major inventory required for Tire Store Business, then the entrepreneur needs to buy different tires based on different sizes, sizes, and types of vehicles. That is to say, the entrepreneur needs to buy different types of tires according to the demand of the local people. Apart from this, the entrepreneur also needs to buy rims, valves, tubes, etc. Apart from this, there may be a need to buy some more necessary equipment like tire balancing, centering device, tire changer, tire pressure, address management system, impact wrench, etc. Before buying these, the entrepreneur should ask for quotations from at least three suppliers available in that area and then after comparing them, choose a good supplier and order the required material.
For Tire Store Business, the entrepreneur needs skilled and hardworking employees who have the ability to solve all the tire-related problems of the vehicles. Therefore, while recruiting employees, the entrepreneur has to keep in mind that they must have at least minimum working experience. If the entrepreneur wants, which automobile engineer can also be appointed as his employee, although the appointment of an engineer may be costly for the entrepreneur. But if the customers of the entrepreneur are satisfied, then the automobile engineer can also play an important role in increasing his customers.
Advertise Tire Store:
Although the entrepreneur will not only need a budget to advertise his business but also need a well-designed advertising plan. While planning the advertisement, the entrepreneur should be aware of his target customer so that he can plan the advertisement accordingly. If the entrepreneur wants, he can also try to make his Tire Store business successful in the following ways.
The inauguration of the tire store should be such that on the same day more and more people come to know that the tire shop is open here. The entrepreneur may distribute posters etc. to publicize the inauguration.
An entrepreneur can provide pickup and delivery facilities to its customers.
An entrepreneur can offer some discounts to his customers on buying tires along with accessories etc.
Tire balancing services can be offered free of cost on tire purchase.
The entrepreneur will have to keep tires of all companies and of all sizes in his tire store so that every customer who comes does not go back without buying anything.
You can give some promotional gifts like T-shirts etc. to your customers, this will not only make the customers happy but your business will also be branded.
Register your products on the famous e-commerce website because currently, online shopping people do more.
So this was an information about Start a Tire Store Business In India? How to open a tire shop?