What does it take to open a dealership, anybody know? Anybody here ever owned one or looked into it? There isn't a Ducati dealership within 100 miles of my area, and there is a LOT of money to be spent around here (Naples, Sanibel, Marco Island). I think I could probably drum up the investors, but I'm not sure where to start. Opinions?
you havent taken a good look at my signature lately...
They have (to be when the rest of the remodel is done) the largest Ducati dealership in the country..yes, the country..they bought a move theatre complex and are converting each moviplex into a "theme" room. 1 room will have watercraft, another willhave construction equipmet, another will have polaris generators and otherstuff, of course tons of Ducs and Victory bikes are on display now, in addition to gasgas dirt bikes..
WHat it takes?? im not sure but i would imagine lots o' cash and a good business plan to present to Ducati or any other mfg.
good luck MD.. i see entreprenurial wheels turning..or just a place you can get your bike fixed cheap! ;D
I thought the only people that lived in Marco island, Sanibel and Naples were over the age of 65 ;D
Melka...do me a favor and just kinda ask around to the high ups you know there without telling them where I am considering it, please. I'd really appreciate it. Not looking for a big one, just a small one that the area can grow into. Maybe Ducati/Aprilia. Rene...all those old farts have moved their kids and grand kids down here...lol. They start dying and leave their estates to younger peeps. A couple of my best friends live on Sanibel. A BMW dealership just opened here and is doing great, and I think a lot of it has to do with these chumps around here buying them as "status symbols". I'm gonna start on a biz plan, but have never done one before and can use all the help and experience I can get.
just so ya know, the principle partner that opened this dealer here was very wealthy to start. Im not lucky enough to rub elbows with him. He wasnt looking to turn a big profit rather he just didnt want to be bored after selling a company and loves motorcycles. You and I unfortunatly gotta work for a living..rats. I will find out what i can though.
see ya..
Thanks Melk...there's lots of money in this area to be had from investors, it just takes finding them...lol.
I was just messing with ya..lol I was down in Fort Meyers a couple of weeks ago and was suprised just how much that area has grown. I hadnt been there in years before just recently. I have a friend that just opened up a motorcycle parts store about a year ago, he started working out of his house and quickly opened up the store and his buisness just keeps growing so i think no matter what type of dealership you want to open it would do good.
What did he do to get started Rene? Do you know? Also, what kind of parts does he do? Might have to start like that and then get into the motorcycle sales, but man we need a Ducati store here.
I don't know the details (brands, size, etc..), but one of the small dealers around here is for sale, for around $200K + 90K in inventory. Leased space is $2100/month for about 13,000 SF
Another one available in Cincinati, OH area is also asking about $200K + inventory...with $500K in inventory and an additional 750K (18,000 SF) if you want to buy the real estate.
The SBA can help you with your business plan, financing, etc....but you'll typically need at least $50K of your OWN capital..and many times the best financing is seller financing.
Here, follow this link for an idea of what established businesses are going for:
http://www.bizbuysell.com/cgi-bin/mysearch?s=XX&k=motorcycle&i=&p=2&f=0&n=&g=&w=f
QuoteWhat did he do to get started Rene? Do you know? Also, what kind of parts does he do? Might have to start like that and then get into the motorcycle sales, but man we need a Ducati store here.
he and his wife have always worked in the the motorcycle industry (P3 Racing, Palmetto Motosports, Harley Davidson of West Palm Beach) so they already had customers that knew them for sometime, they just decided to give it a shot at selling parts from home and in less than a year they had to open up a store cause they were moving alot more parts than they were able to handle from there house. They are now working on opening up a service shop cause he's been doing alot of that from his garage at home also. The motorcycle industry is really still a growing sport or hobby thats just starting to grow more and more every year and the potential to make $$$ out of it is very good no matter how you go (internet sales, retail store, performance shop or dealer).
Duc, I admire your spirit!! Im sure you have heard this before if not here goes.... Starting a business is more than a huge indevor and once started it never stops... You have to be willing to to put your heart and soul into it .. the scarafice is huge... The most important and valueable thing in life is TIME and the amount of time you would have to invest is insane. I have seen good people turn bad atempting a new business takeing great risks. You have also to think of your family and there time as well, this can ruin a marrige or other relations. Im sure this all ways on your mind. The best advice in life is BALLANCE !! I started a new business 5 or more years ago and I have been very blessed. However every day I struggle with ballance. It is atanible... The choice will always be yours. Lastly I will say I rember how nice it was to get off work and not think about it till after the weekend. There is something to be said about haveing a job, instead of being the job. You seem like a smart guy and I know you will be ok. Make choices believe in yourself and enjoy each day as if it was your last. Use your time wisely as none of us gets enough........Motard11 :-*
Yeah...I just am not sure of what to do right now. This new job isn't going so well (have yet to make a dime) and would love to be in the motorcycle industry. Unfortunately, it seems the only way to afford to be in the cycle industry and keep my lifestyle is to be an owner. That sucks. I would like to write for RRW or Cycle News or whoever, but not for $25-$30K....can't live on that. Just a tough time for me. I have also been advised by a current Ducati dealer that the way to go would be repairs and parts/accesories, not a dealership. Hmmmmm...
The true zen in life is ballance ;D I once wantted to be in the motorcycle ind. but I know myself and I cannot mix biz. and pleasure I dont want to work when events are scheduled. and if I emerse myself in my hobbie it will lose its appeal...that is atleast for me...I know others can do it ..Its just sometimes I have other intrests..Ya know what I mean :D I believe you and I may be alike. I make good money in my job and I cant realy afford to do otherwise. I dont feel Im trapped I just do what Im good at...I like my work..But I dont love it.. I find ballance in doing my job well and that makes me happy..No matter what you choose you will always have some one to answer to boss,customers,partners you get the idea....Hope some of this helps. Oh did I mention I love to race!!! ;D stay cool and try not to think too much Motard11 :P
Working for yourself is the way to go. You'll never be prepared for how every moment of your life somehow relates to managing your business, but it is well worth it. I've been at it for six years, and I'll never be able to work for someone else again. It is a rush that can't be described to grow a business and make every descision. Awesome. If you do it, you'll never be able to go back. I'd own and operate a lemonade stand before I'd work for someone else again.
Quote I'd own and operate a lemonade stand before I'd work for someone else again.
:o :D ;D You are soooo right.
You might need to rethink a Ducati dealership. The company is in shambles right now and most if not all parts are on back order with no end in sight. Dealers are closing left and right. How can you run a dealership when you cant get bikes and parts for your customers? I think the a repair shop is the way to go. You will be still be able to get stuff from Lockhart, Parts unlimited, and Tucker Rocky if you are just a repair shop. 90% of bike accressories come from those venders. You will also be able to get OEM parts from other dealers at a discount if you are real nice. I have been kicking this around too, but right now my main business is booming so I dont need to do it at this time. ::) Oh, another thing, If you can swing it without partners you will be way better off. In a nut shell, partners suck! I have had partners and I know people who have had them in business ventures and it almost never works out. ;D
The reason partners in biz. is so difficult is they can never put in the same effort aka ;partners suck ;D
What do you guys do? Any suggestions on a biz I can start up and make enough to get by right away and grow into making more cash? Need like $4-5K to get by. ideas?
Have you tryed collecting alluninum cans???? ;D
I drink enough diet vanilla coke to start. ;D
QuoteI drink enough diet vanilla coke to start. ;D
Dang! You are a tough guy! ;D
When starting your own business be prepaired to make little to nothing the first year or two. You have to pay your dues, you wont make a killing right off the bat. You might wont to look into a business that is for sale, already has customers and income. There are lots of business for sale with owner financing when the owners are ready to retire. I have been building surfboards for the last 20 years and when we first started we didnt make hardly anything. We also still lived at home with our parents, couldnt afford a place of our own. Now 20 years later I have a house within 5 years of being paid off and Im putting in a inground pool and spa in the back yard this summer as well as sponser myself racing. Business is good but it takes time to build customers. If you need 60k a year to live you arent going to find that working for someone else or working for yourself right off the bat. You would be wise to expect lower income when first starting your business or starting a new job, no one starts at 60k a year and I mean no one except a doctor ;D