Opening a Car Accessories Shop in Shimla (H.P)

[Tornado]

Suggest me stickers to conceal minor scratches on the color on the bumper.

 

[torq118]

Hello Friends, i am planning to open a new car accessory shop in Shimla(H.P). I don't actually have much knowledge about the accessories or the brands to start with but i like this business concept very much.

I have a space for the shop near the city with a plus point of two service centers nearby with whom i can get in touch with for the marketing of our products.
So, What i exactly want to know is that how can i start this business?

There are a few questions, to which i think the answers would be very beneficial.

1. What type of products should i start with?
2. Should i start with the local products or the branded ones?
3. What would be the initial budget for the business?
4. What are the profit margins that i can expect from this business?
5. Is it necessary to register the shop as soon as i open it or can i wait for the business to take off? (As according to my knowledge the products are going to be all VAT paid)
6. Should i approach the local distributors or directly the respected companies for the stock?
7.I have also inquired about the Galio product range and Senior companies distributors in the city. Are these brands good enough to start with?

I would really appreciate if some of you could help me in the above context.:

Hello Savitoj,
Good to hear that you are opening up a shop in Shimla, Following are the few points, I think that will help you in running the shop:
1. Although you are opening up accessories shop, I would highly recommend that you keep alloy wheels and tyres and if possible variety of tyres, as you are aware that many people are opting for alloy wheels in Shimla, especially the younger lot which are getting hands on wheels at the young age. These are high value transactions and will help you in turnover.

2. Secondly, I would recommend having all the brands in In Car entertainment segment, right from basic stuff to stuff till medium end. As i think that not many people will buy extreme high end stuff. In Shimla, most people will get is a Stereo, Speakers, Amp and Sub woofer and their budget would be at max 20K.

3. Now many people even in Shimla opting for performance parts, you can have a separate segment of Performance parts which include K&N air filters and ffe's etc.

4. Last but not the least, various body mods and accessories.

Wish you all the best for your endeavor.

Punit Gupta

 

[amit_shimla]

Congratulations for the new business. Where is Shimla are you located? I need some help with my ICE.

 

[himalayan3009]

It is in Bemloe, in the Bemloe - Kanlog road. 50 meter to the right side from starting point. after crossing 2 or 3 times from that road i was able to find it. Because i was guessing to have this shop near to Potato Research Center. Hope now you will be able to find it amit.
As i am also busy these days for my sisters marriage, i will visit the shop after 8th dec.

 

[torq118]

It is in Bemloe, in the Bemloe - Kanlog road. 50 meter to the right side from starting point. after crossing 2 or 3 times from that road i was able to find it. Because i was guessing to have this shop near to Potato Research Center. Hope now you will be able to find it amit.
As i am also busy these days for my sisters marriage, i will visit the shop after 8th dec.

Is it near Gurraj autos?

 

[himalayan3009]

Yes, but if you will go from Bemloe side the shop will come first, say around 10 meters before Gurraj Motors to the left.

 

[amit_shimla]

Ok thanks, Will se you some day then.

 

[Savitoj]

Thank you friends for your support and 'Himalayan 3009' i was expecting you to visit last to last month anyways, you are always welcome at the store.

Congratulations for the new business. Where is Shimla are you located? I need some help with my ICE.

Well sorry to dissapoint you Amit but i dont have an electrician right now, but you can always come to see some other stuff as still i am trying to introduce some new items every second week or so.

 

[Savitoj]

I have added Seat Covers to my Shop, although i need some ideas on loose covers.
Should i get the ready-made ones or should i be getting a tailor to stitch them according to the customers choice?

 

[Tornado]

Go for readymade from good brands such as Elegant, and companies operating from states like utterakhand as that govt has policy of tax concessions for manufacturers resulting in heavy discounts for the traders.

Maintaining a skilled labour is not easy now a days in the era of freebies offered to them by the governments.

In case of ready made you can purchase seat covers for various models in one go. Also you get free replacements for manufacturing defects.

If you are planning for some simla special items, then hire a tailor, but see it to that you don't depend on him fully. .

 

[ilango[speed thirst]]

Congrats on your new venture.

Keep updated in the market and the prices.

 

[Savitoj]

Well thanks Tornado, for your advice.
I think, i'll consider buying ready-mades from the market.

Thank You Illango for your warm wishes.