1. Select Your Products
It is vital to select your products before you set up your business. It is, however, not easy to select the best products for your business.
Choose Your Niche
You may think you have already chosen your niche – car parts. That is why you are reading this article.
However, choosing your niche can help you sell more car parts and grow a successful business. Once you select your niche, you can now focus on one specific market. For instance, you can choose to focus on one specific model or make. Or you can focus on a specific car part, such as filters or lights.
Here are some of the reasons to choose a niche:
- It reduces your competition
- It helps you identify a target market
- It helps you find your product
You need to consider your passion, knowledge or areas of interest before you choose your niche. You can find gaps in the market. Then, fill these gals. Additionally, you can use keyword research tools, such as SEMrush, to do your keyword research.
Who Will You Sell Your Product To?
You need to consider who will you sell your product to before selecting your product. Your target market can have a huge impact on the success of your business. It can even affect the way you run your business. For instance, it can affect your marketing and branding choices.
Do you want to sell to people who are looking for new car parts for their personal vehicles? Or do you want to sell to mechanics who are buying car parts in bulk? The mechanics can sell your car parts to their customers.
The first choice is Business to Customer (B2C). This is where you sell your car parts to the end customer. The second choice is Business to Business (B2B). This is where you sell your car parts to other businesses.
If you select B2C, you must focus on branding and marketing because emotions drive purchasing behaviours. That is why brand familiarity, product photos and web design can increase your conversion.
What Products are in High Demand Right Now?
Once you choose your niche and your target market, you can now look for hot products.
You can check the automotive bestseller lists on Amazon to find the products that are in high demand right now. You will find the most popular products in different categories, including:
- Replacement parts
- Performance parts and accessories
- Oils and fluids
- Interior accessories
- Exterior accessories
- Car care
2. Source Your Products
The next step is to think about where you will get the products from. You can choose from the following options.
It is, however, very important to consider the quality, reliability and authenticity of the car parts before purchasing them. If your customers trust you and your car parts, your business is more likely to succeed. Do not, therefore, rush to make your decision.
You can get your car parts from a wholesaler. A wholesaler sells its products to retailers in large batches. Wholesalers sell their products are reduced prices. You can purchase products in bulk. Then, charge your customers a higher retail price to make more money.
If you want to sell your car parts to individual customers, you can purchase them from a wholesaler. To find a wholesaler isn’t too difficult you just need to do a Google search or ask people involved in the field, for example if you are going to the japfest Silverstone 2023 you could ask a member of staff there.
You are more likely to get high-quality car parts from a manufacturer. It is best to buy your products directly from the manufacturer, especially if you want to sell specific car parts. Why? A lot of people and businesses prefer car parts from certain manufacturers. You can choose these manufacturers.