7 Tips for Successful Motorcycle Repair Business Opportunities
A motorcycle is a means of transportation that is owned and used by people from various circles. Even more than that, Motorcycles are also one of the means of transportation used by some entrepreneurs as a medium of delivery, or a medium for trading around.
The increasing use of Motorcycles in various aspects of life accompanied by the ease of applying for credit by several dealers has made the number of Motorcycle users skyrocket every year. No kidding, the population increases in Motorcycle ownership in the capital and big cities reaching 12 percent every year.
This increase in motorcycle ownership creates a large market share for Motorcycle business entrepreneurs. Even along with technological developments, Motorcycle repair shops are included in one of the promising long-term business opportunities. There are three types of Motorcycle workshops generally operating in India, including:
- Motorcycle repair shops affiliated with certain Motorcycle brands or official Motorcycle repair shops
- A Motorcycle repair shop that is not affiliated with a particular Motorcycle brand, so that it can serve all types of Motorcycles
- The custom Motorcycle repair shop that only serves Motorcycle modifications
Well, if you are interested in starting a Motorcycle repair business, then here are seven successful tips for a Motorcycle repair business opportunity that you need to understand. Let’s have a look!
1. Passion And Insight Into The Type of Business You Are Engaged In
Opening a Motorcycle repair business can be said to be tricky. You as a prospective workshop owner must have a broad passion and insight into this business.
In other words, you have to really understand the ins and outs of the Motorcycle repair business. You will need this, especially in listing what you have to prepare before opening a Motorcycle repair shop. Without passion and broad insight, your business is unlikely to develop.
2. Calculate The Estimated Cost Needed
Opening a Motorcycle repair business requires a lot of money. The costs you need include location rental fees, renovation costs, procurement costs, salary costs for mechanics and admin, and operational costs such as electricity, water, and internet connection (if needed).
Especially if you decide to be affiliated with a certain Motorcycle brand, then you need to pay a certain amount of funds as an initial investment. Because the amount of capital spent is not small, you should consider as much detail as possible the estimated cost you need. This breakdown of cost estimates will help you determine service rates and the selling price of spare parts.
3. Choosing A Location
As befits a business, you must choose a location with the best access so that your business is easily found by customers when needed. If you choose to join as an official Motorcycle repair shop for a certain brand, then there are requirements regarding the location of the business. To open Honda’s Ahass workshop, for example, you are asked to prepare a strategic business location with an area of about 5 x 13 square meters, which could be a shop.
4. Recruit Dependable Mechanics
Furthermore, when you open a workshop, of course, you may not be able to handle all the work alone, especially if your workshop is classified as crowded with customers. You need to hire several mechanics who will help you serve your customers.
A mechanic is an example of a skilled workforce that reflects the quality of your service in your workshop. For this reason, it is important for you to be selective and thorough in recruiting a mechanic. Make sure the mechanic you hire can follow instructions well, is experienced, and has good character.
5. Survey of Spare Parts Prices
Opening a Motorcycle workshop business requires a lot of capital. One of the costs that you can minimize is the cost of procuring spare parts. It’s easy, you only need to do a survey of the prices of spare parts offered by suppliers and make product quality comparisons. You can compare spare part prices at suppliers with online resellers. By doing so, you will be able to make more rational purchase decisions while minimizing the capital you spend.
6. Prepare A Promotion Strategy
Most Motorcycle repair business owners are reluctant to carry out promotions because they feel that their business is definitely needed by people. This is a wrong assumption, even though it is precisely by doing promotions, your business will be able to maintain the benefits obtained through the presence of new customers and the emergence of loyalty from repeat customers. The absence of a promotional strategy prepared by the company is one of the causes of failure of small or large businesses that need to be watched out for.
7. Mastering Mechanical Engineering
Finally, as a Motorcycle repair business owner, you need to master mechanical engineering. As an owner, passion and broad insight alone are not enough provisions for you. You need to master mechanical techniques yourself. The goal is that you can supervise the work of a mechanic or your employees.
Supervision is one of the benefits of an internal audit that you need to do as a strategy to maintain service quality. In addition, if you are good at mechanical engineering, you can also provide advice to customers on matters that need repair.
Those are the seven successful tips for a Motorcycle repair business opportunity that you need to understand. Hope it is useful!