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19 Tips to Start Car Accessories Business in Nigeria

 Car Accessories Business: Opening a Car Accessories business is a good idea.

As it can serve as a gateway to having a stable and profitable kind of business.

Car accessories, such as body kits, rims, car alarms and stereo systems, enhance both the interior and exterior of cars, trucks and other vehicles.

Open a car accessories and installation business to sell these items to those who want to make their vehicle more comfortable and more fun to drive.

Stock a variety of accessories for different types of vehicles.

Offer installation services to make purchasing these items more convenient for customers and to encourage repeat business.

Read also:How to Start Auto Spare Part Business in Nigeria

Car accessories business can be a lucrative business idea to invest.

In given the fact that pretty much everyone has a car these days.

And many people would be willing to pay for some unique and useful car accessories.

Such as customized seat covers, nice car mats, car mobile holders and chargers, and things like that.

So, if you are thinking of starting a new business but have no idea where to start from.

You can consider starting your very own car accessories store around your local area.

And make good profits supplying car owners with cool car stuff.

 Car Accessories Business: Starting a car accessories store

Aside from regular cleaning of the car, the second thing people do is to accessorize them.

This is surely the people you need to target.

These car lovers would actually look for things that would make their car unique.

In your store, you would certainly be selling these items.

Clearly whatever stuff that will make their car look good, the customers would surely buy.

It is better to have unique offerings to your store.

Car Accessories Business Car Accessories Business Car Accessories Business

1. Carry out researches work

Find out about the feasibility of starting a car accessories store in your local area.

By conducting a small market research.

Look after other car accessories stores and find out how they are doing.

Who are their supplier, how are they satisfying the local car owners needs and as well as their pricing and estimated monthly revenue.

Look for the things that they are offering.

Observe what items most people look for.

Some would want cleaning products while others want to add stuff to make their car comfortable.

Whatever it is, you can learn a lot about what kind of accessories they are looking for.

2. Create a business plan

After having all the information above set.

You are now required to write a business plan for your new auto or car accessories store business venture.

That won’t only help you run and manage your business.

As it will also help you decide on the business model.

And have an outline of your yearly revenue projection after two or three years.

Prior to the time you have started the car accessories store.

List all the financial information, decide on a management plan and design a marketing plan.

When deciding to open one you need to plan out a good business plan that will serve as a guide to your venture.

Create a business plan to help guide you through each stage of business development.

When starting a car accessories store.

List the types of accessories and installation services you plan to offer customers in the first section.

List startup costs, such as rent, utilities, labor, upfront costs for accessories, business insurance and marketing costs, in the second section.

Outline ways to market your store to customers in the third section.

List all management and employee responsibilities in the fourth section.

3. Determine your  inventory items

Another thing to do is to search for places where you could find your inventory items.

You can surely find some discounted items.

Have a system for your inventory.

You could have spreadsheet software that could help you with this task.

Update this weekly so that when clients ask you about something, you can surely know the answer.

Determining the products that you want to sell would also determine how big your store would be.

Well, this is a very sensitive part of your car accessories store business venture.

As it is directly connected to the real deal of the business itself.

So all the relevant details regarding this step must be approached with care.

Here you must choose a car accessories supplier.

Which can be found locally by searching on local online directories and newspapers.

Or by choosing to import from other reputable online car accessories wholesalers.

Who can be found on e-commerce platforms such as alibaba, amazon, ebay.

And as well as by entering the car accessories manufacturer website.

And asking for a seller price or discount.

4. Car Accessories Business :Get the location

If you are going to rent a space, it would be a good idea to start with little things that won’t take up too much space so you can actually sell more.

Lease commercial retail space from a commercial real estate agent in a busy shopping area or downtown location.

This space should be large enough to display various car accessories to attract customers.

Retail space should also include storage space for additional items.

And an area for you to install accessories, such as tire rims and light covers.

5. Car Accessories Business :Get your business license

Apply for a business license to operate a car accessories business in your area.

Contact the county clerk or small business administration office for information about licensing applications and fees.

Apply for an Employer Identification Number through the Internal Revenue Service.

Use the EIN on tax and other business forms.

Purchase business insurance from a licensed insurance provider.

Business insurance helps protect your products from theft or damage.

Insurance can also protect business assets in the event of a lawsuit or settlement.

6. Car Accessories Business :Get to know the business funding

That will help you have an idea of how much money you would need as startup capital to fund your new auto or car accessories store.

Consider the costs for acquiring your inventory, renting out a retail space to use as the store, hiring staff members.

Such as cashiers and accountants, registering the business among your local government business regulations departments.

Such as the city county or any other place in your state or country.

The most important thing about starting a business is determining how much your start up cost would be.

This thing would clearly be dependent on what kinds of things you might want to sell.

In reality some car accessories are expensive so you need to be careful about it.

Before actually purchasing anything.

Think first if they are truly needed.

Make sure that anything you buy can be considered as a good investment.

7. Car Accessories Business :Acquire startup capital.

As you have already have it all planned out and researched.

It’s time to make it happen by putting it all in practice.

That’s when the startup capital come into play.

If you have enough cash on your personal savings, you are good to go.

However, if you are low on the budget, you may need to consider getting a loan from a third party investo.

Such as banks and angels or business partners.

Another great idea to help you source for capital for your car accessories store is by asking for soft loans by talking to family and friends.

8. Renting out a retail store space

In order for your business to operate.

You are required to rent out a facility to use as your car accessories store business location or point of sale.

You can do it by looking for affordable spaces in your local area or around your target market with the help of a real estate agent.

Prefer spaces close to other businesses, such as auto or car parts stores, automobile mechanics shops.

In addition to the latter car accessories store similar businesses listed here.

You can also consider restaurants, shopping malls, hotels.

And pretty much everywhere around your local area that car owners go very often.

9. Get the items from the correct source

Purchase car accessories from accessory manufacturers and vendors.

Attend local auto trade shows to learn more about what is trendy in car accessories.

Purchase bookkeeping and retail software to track sales and monitor inventory.

Purchase display racks and shelving to display car accessories.

10. Car Accessories Business :Market your business

Market your business by creating fliers and business cards.

Contact auto repair shops, auto detailing services and stereo installation businesses to ask for referrals.

Create a website to showcase the types of car accessories you have in stock.

Include contact information, hours of operation and ordering and payment options.

List your business in local business directories.

List your business on local classified ads websites.

Create business cards, make a partnership with public transportation vehicles such as taxis/cabs and mini-buses.

In some parts of the world to put advertising material around their vehicles.

As a way to support your car part store in exchange for monetary values.

Or special discounts on your store.

Create a website for your business and post ads on local newspapers and car magazines.

Read also:Tips to Start Diesel Mechanic Business in Nigeria

11. Car Accessories Business :Get a business franchise

Consider purchasing a franchise business that is recognizable to customers.

This can create an instant customer base.

If you are looking towards starting a car accessories and auto spare parts store business.

You would have to start from the very scratch.

Because you can hardly get a franchise of car accessories and auto spare parts store business to buy.

It is a business that is open to all and sundry.

Besides starting a car accessories and auto spare parts store business from the scratch.

It is less stressful when compared to other small scale businesses.

Which usually require detailed groundwork before launching the business.

With a car accessories and auto spare parts store business.

You should just try as much as possible to secure a shop that is close to a major road or mechanic village.

And then leverage on every marketing tool within your disposal especially the internet to marketing your car accessories and auto spare parts.

Please note that most of the big and successful car accessories and auto spare parts stores around started from the scratch.

And they were able to build a solid business brand.

It takes dedication, hard work and determination to achieve business success.

And of course you can build your own car accessories and auto spare parts store business brand to become a successful brand.

With corporate and individual customers in your city.

And across the length and breadth of the world.

If you choose to open chains of car accessories and auto spare parts stores all across the world

See also:13 Top Requirement for Car Rental Business in Nigeria

12. Get contacted with other business people

Contact your local department of motor vehicles.

To determine which car accessories you can legally sell as some accessories.

Such as dark window tinting, may be banned in your state.

13.Car Accessories Business :Get to know the Level of Competition 

The competition that exists in the car accessories and auto spare parts stores industry goes beyond competition.

Between car accessories and auto spare parts stores.

You will be expected to compete with auto garages and similar businesses.

That also retail car accessories and auto spare parts.

So, it will be right to say the competition in the car accessories.

And auto spare parts store business is tough.

The truth is that no matter the level of competition in an industry.

If you brand and promote your products or business properly.

You will always make headway in the industry.

Just ensure you stock your store with car accessories.

And auto spare parts from different car manufacturing companies.

That are in demand in your business location.

And you know how to attract and reach out to your target market.

But over and above, there are several car accessories and auto spare parts stores scattered all around in Nigeria.

So, if you choose to start your own car accessories and auto spare parts stores business in the Nigeria.

You will definitely encounter stiff competition amongst car accessories and auto spare parts stores.

And auto garages within your business location.

That also retail car accessories and auto spare parts.

Besides, there are larger car accessories and auto spare parts stores.

That determine the trend in the industry and you should be ready to compete with them for customers.

Also read:13 Tips to Become Wealthy Soon in Nigeria

14. Car Accessories Business :Get to know the brand names

 In every industry, there are always brands.

That perform better or are better regarded by customers.

And  the general public than others.

Some of these brands are those that have been in the industry for a long time.

While others are best known for how they conduct their businesses.

And the results they have achieved over the years.

These are some of the leading car accessories and auto spare parts stores in the in the globe;

  • AutoAnything™ – America’s Auto and Truck Accessories SuperStore
  • Accessories at Pep Boys
  • US Auto Parts Network, Inc.
  • American Car Craft: Custom Car Accessories & Parts
  • Auto Parts Warehouse
  • JC Whitney: Auto Parts, Truck Parts, Truck Accessories
  • Advance Auto Parts
  • Francis America Spare Parts
  • NR Automobile Accessories
  • Engine Performance Chip
  • com
  • Atlanta Auto Accessories
  • Carquest – Auto parts store
  • Auto Parts Place
  • AutoZone
  • Napa Auto Parts
  • Quality Auto Parts
  • CARiD Online Auto Parts Store
  • PartsGeek Online Auto Parts Store
  • BuyAutoParts Online Auto Parts Store

15. Know the Economic Analysis

If you are looking towards successfully launching a business and maximizing profit.

Then you need to get your economic analysis right.

And try as much as possible to adopt best practices in the industry you choose to build a business in.

Car accessories and auto spare parts store business is not a green business.

As a matter of fact, you will come across several car accessories and auto spare parts stores.

When you go shopping for car accessories and auto spare parts.

So if you are mapping out your economic analysis.

You should carry out thorough market survey and costing of what is required to rent a store.

The amount needed to stock your store with car accessories and auto spare parts from different car manufacturing brands, and also the running cost of the business.

Over and above, if you are considering starting a car accessories and auto spare parts store business.

Then your concern should not be limited to the cost of renting a store.

And stocking your store with car accessories and auto spare parts from different car manufacturing brands.

But also on branding and on how to build a robust clientele base.

The truth is that if you are able to build a robust clientele base.

You are sure going to maximize profits in the business.

 16. Car Accessories Business :Possible Threats and Challenges

If you decide to start your own car accessories and auto spare parts store business today.

One of the major challenges you are likely to face is the presence of well – established car accessories.

And auto spare parts stores and auto garages within your business location that also retail car accessories and auto spare parts.

The only way to avoid this challenge is to create your own market.

Other challenges and threats that you may likely face are economic downturn and unfavorable government policies.

There is nothing you can do as regard these threats and challenges other than to stay positive that things will work well for you.

17. Get the Catchy Business Name

If you are considering starting your own car accessories and auto spare parts store business.

Here are some catchy names that you can choose from;

18.  Car Accessories Business :Business Insurance Policies

In Nigeria and in most countries of the world.

You can’t operate a business without having some of the basic insurance policy covers.

That are required by the industry you want to operate from.

So, it is important to create a budget for insurance.

And perhaps consult an insurance broker.

To guide you in choosing the best and most appropriate insurance policies for your car accessories and auto spare parts store business.

Here are some of the basic insurance covers that you should consider purchasing.

If you want to start your own car accessories and auto spare parts store business in Nigeria

  • General insurance
  • Health insurance
  • Liability insurance
  • Workers compensation
  • Overhead expense disability insurance
  • Business owner’s policy group insurance
  • Payment protection insurance

19. Car Accessories Business: Create awareness

If your intention of starting a car accessories and auto spare parts store business is to grow the business beyond the city.

Where you are going to be operating from to become a national and international brand.

By opening chains of car accessories and auto spare parts stores and franchising.

Then you must be ready to spend money on promotion and advertisement of your brand.

No matter the industry you belong to.

The truth is that the market is dynamic.

And requires consistent brand awareness and boosting cum promotion to continue to appeal to your target market.

Your corporate identity has a lot to do when it comes to building a business that is profitable and lasts long.

Here are the platforms you can leverage on to boost your brand awareness.

And create corporate identity for your car accessories and auto spare parts store;

  • Place adverts on both print (newspapers and magazines) and electronic media platforms
  • Sponsor relevant community based events/programs
  • Leverage on the internet and social media platforms like Instagram, Facebook, Twitter, YouTube, Google + et al to promote your products
  • Install your Billboards in strategic locations all around your city or state
  • Engage in roadshows from time to time in targeted neighborhoods to create awareness of your car accessories and auto spare parts store
  • Distribute your fliers and handbills in target areas
  • Contact car owners, auto repair, maintenance and servicing garages, transport companies and haulage companies and other key stakeholders throughout the city where your car accessories and auto spare parts store is located informing them about your business and the products you retail
  • List your car accessories and auto spare parts store in local directories/yellow pages
  • Advertise your car accessories and auto spare parts store in your official website and employ strategies that will help you pull traffic to the site.
  • Position our Flexi Banners at strategic positions in the location where your car accessories and auto spare parts store is located.
  • Ensure that all your staff members wear your branded shirts and all your vehicles and vans are well branded with your company logo.


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