Thread: Question for dealers
08-05-2010, 07:12 PM #1
Question for dealers
So I am in college right now, and at the moment I am majoring in Biometric Security (finger print scanners and such) but my real dream would be to open up a motorsports dealership (PWC, Bikes, Snowmobiles, etc) in my city so I am thinking about switching to business.. My question is, if anyone has started one from the bottom up, what does it take? How big of a loan would it take, how long to get it running, what type of personnel would I need? Those types of questions. This is of course something far down the road, but I just need to know what I would be getting myself into if I were to pursue this. Thanks in advance for any input anyone has.
08-06-2010, 07:42 PM #2
08-07-2010, 06:26 AM #3
Your biggest thing you need to find out is if the Factories will allow you to start a dealership....A good friend and fellow board member just bought a exsisting dealership and the process took 3 years!!!!
08-07-2010, 09:27 AM #4
08-07-2010, 11:28 AM #5
A few things to consider.
Nothing against Holland ( I have some relatives who live there)
Unemployment rate: 16.1%
Population change: -3%
Job growth: -8.7%
You would have to look at those figures long and hard before even
considering a VERY high startup cost business like a powersports dealership.
As bad as the economy is now, starting any business would be extremely risky
especially a business that sells a product like you are considering. A lot of people up your way are having a tough time paying their basic living expenses much less buying a new expensive toy. Another thing to consider. Capital for business startups is very tight right now even for long term experianced business people. A young guy that has no business experiance at all will find it next to impossible to come up with a huge sum of money to start a powersports dealership. Even if you were able to come up with the money, you still have to deal with: Honda, Sea Doo, Kawasaki, Yamaha, and others. Do you think they are going to hand out a franchise to sell their product to somone who has 0 experiance in their biz? My advice would be to get a sales job in one of your local powersports dealerships. That would give you some needed experiance in that field. Most managers in those types of businesses started off in sales. If you rise up the ladder and become a manager, then think about getting into ownership. I'm not trying to discourage you from your dream but there are many factures that come into play when starting any business. And the 2 that come into play in the type of business you would like to start are experiance and a big wad of money.
08-07-2010, 09:01 PM #6
This is something that I would look into doing like 10+ years down the road. I would love to get a job at a dealer around here, but I don't feel like they would hire a sophomore in college.
08-08-2010, 06:46 AM #7
Beagleman is correct; it's a tough market out there right now for small businesses. Our local powersports dealers look like graveyards right now, and some have gone out of business within the last year. Power Products Marketing reports less than 50,000 PWC units sold in the entire 2009 season (see here). And many of us don't see it changing until we get more business-friendly leaders in Washington. But the good news is; manufacturers are making some of their best products ever, and consumers really want to buy them; so sales will pick up as soon as unemployment starts dropping and the banks ease up on credit. Again, this is all linked to small business (the engine). Hopefully, things will pick up down the road so you can realize your American dream. Personally, I still believe having your own business is a big part of that dream and I wish you all the best with it.
08-08-2010, 07:49 AM #8
08-08-2010, 08:32 AM #9
- Join Date
- Oct 2005
after you`ve gone thru all that>>>
you need top notch personnel... it will take $$$ to attract the right individual, and or hire them right from tech school...
one of the things we all bitch about here is the lack of enthusiasm BIKE mechanics have on our ski`s... I`ve seen much better work ethics from individuals and self employed repair shops than the BIG dealerships.
so if you want to be on top and make the money your reputation and customer satisfaction is priority... Most dealerships accel in sales bc they want you to buy thier product but suck big time when it comes to maintenance and repair. You have to balance and be GREAT at both... Good luck in your endeavor...
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