Opening a scooter store could be a great way to make money from the growing popularity of street legal motorized gas scooters. Due to rising gas prices, a bad economy, and a number of lesser factors, scooter sales are rising. People are beginning to take advantage of the gas savings they get from gas scooters. Some gas scooters have gas mileage ratings of 100 miles per gallon and higher. So if your car gets 20 or 25 miles per gallon, you see how you can get 4 – 5 times better gas mileage for your money. This is one of the main reasons more and more consumers are choosing to buy gas scooters and why you could make money by opening a scooter store. But you cant just wave a magic wand to open a scooter store and have the money come pouring in. It takes knowledge, ability, and hard work just to get started.
Do a Feasibility Study
It doesnt matter how great an idea is if it isnt feasible. The idea has to be one that can be implemented in a way that gives it a chance to be successful. For example, selling ice at the North Pole might not be the best idea for a business. There are a lot of factors that you need to consider before you open a scooter store. First, be honest with yourself and answer the question do you have what it takes to own and operate a scooter store? If not, that doesnt mean you shouldnt follow through because you might be able to find someone with the knowledge and experience to run your store for you.
Target Market Who Wants What Youre Selling?
As a part of your feasibility study you need to test the market to find out how many people in your area want to buy scooters. If you find a significant number of potential buyers you need to find a niche to market your scooters to. Some scooter store owners are marketing their scooters as DUI scooters. This has caught the attention of people that have had their licenses suspended due to DUI convictions. These shop owners saw a need and targeted the market. Thats just one example of targeting a market. Before you open a scooter store you should know that you could make money by selling scooters because there are enough people willing to buy what youre selling. Doing research to get an estimate of buyers can help you know if the idea is feasible or not.
Another part of your feasibility study should be finding the right location. For years, location has been the first, second, and third rule of real estate. The same applies to opening a scooter store. Just like selling ice at the North Pole probably isnt the best business plan, opening a scooter there may not be the best idea either. Opening your store across the street from an established scooter store could have benefits but there are more cons than pros to that idea. You want your store in a location where there are lots of homes nearby. The residents of those homes are potential buyers.
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Make a Business Plan
Many businesses have failed because the owner started out with a good idea and no business plan. A business plan helps you focus on what youre trying to do and how to get it done. Among other things, your business plan should include your mission statement. For example, To sell and service street legal motorized gas scooters, is a starting place for a scooter store mission statement. Your business plan should also include options for financing your business. Will you be using your own money or will you try to borrow money to open your scooter store? Having a plan to get inventory is a crucial aspect of the business plan. You also need a plan to reach the target market mentioned above. Are you going to use print, radio, online, or television advertising to reach potential customers? Getting a business license, insurance and bonding will also need to be part of your plan to open your store.
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Legal and Financial Matters
Getting advice from a good business lawyer and an accountant would be wise with a venture of this magnitude. This could save you a lot of time, money, and grief. There are some things that youll be ale to do for yourself but lawyers and accountants are better prepared to handle legal and financial matters than most of us are. A lawyers advice could keep you from being sued and at the very least; a lawyer can represent you if you do get sued. Likewise, an accountant could help you stay out of trouble with the Internal Revenue Service.
Also see: Used Gas Scooters for Sale Under 300 Dollars
This is by no means a comprehensive list of everything you need to do to open a scooter store and make money but these are the kind of things that could help you be successful. Like I said before, its going to take knowledge, ability, and hard work just to get started. By doing a feasibility study, targeting a market, finding a good location, and putting together a good business plan, you could be well on the way to a profitable business. Theres a growing market for scooters and with gas prices continuing to rise, this could be the right time to open a scooter store and make money.