How To Start a Motorcycle Repair Shop.
- Develop a Business Plan. Before you can get the financing you’ll likely need, you’ll have to prepare a detailed business plan. List all the equipment ...
- Get Approved for a Loan.
- Find a Building.
- Advertise Your Business.
Full Answer
How to start a motorcycle repair business?
Allow your customers enjoy the freedom of the “ride” without the hassle of maintenance. You can set-up your motorcycle repair business in your garage or workshop at home. Clean-out the garage to store bikes, extra parts, and tools. Use word-of- mouth advertising with friends/family, at local rider hang-outs, and bike rallies.
Is it possible to start your own motorcycle shop?
Learn how to start your own Motorcycle Shop and whether it is the right fit for you. You have found the perfect business idea, and now you are ready to take the next step. There is more to starting a business than just registering it with the state.
What does a motorcycle shop do?
From selling new and used parts, to bike repair and rebuilds, motorcycle shops offer a variety of goods and services that fit the immediate and long-term needs of bike enthusiasts. Ready to form your LLC? Check out the Top LLC Formation Services .
Why start a motorcycle parts and accessories business?
As the number of motorcyclists increases, so does their need for bikes, both new and used, as well as parts and accessories. Entrepreneurs with strong business acumen should utilize this unique opportunity, expanding their businesses on both a local and national level.
How profitable is a motorcycle shop?
How much profit can a motorcycle shop make? Unlike many businesses, motorcycle shops often see a profit in the first year. While the first three years may generate a profit of $13,000 to $17,000, this is a positive sign and sets the business up for long-term growth and success.
How do I start a salvage motorcycle business?
How to Start a Motorcycle Parts BusinessFind a Need and Fill It. Assess your potential competition. ... Focus on Finance. Get your financial house in order. ... Locate Reliable Suppliers. ... Build an Inventory. ... Obtain Licenses and Insurance. ... Start Marketing the Business.
How can I start a bike repair shop in India?
In India, you will be required to get your bike repair business registered under the Shops and Establishment Act. In addition, you will need to obtain a digital signature, obtain a PAN number, open a current account, obtain GST registration, etc.
How do you start a motorcycle?
0:264:15How to Start and Shift a Motorcycle - YouTubeYouTubeStart of suggested clipEnd of suggested clipAnd now he'll just push it push the yellow button with this thumb to start the motorcycle. RememberMoreAnd now he'll just push it push the yellow button with this thumb to start the motorcycle. Remember it's important for you to know where all of your buttons. And switches are on the motorcycle.
Is owning a junkyard profitable?
How much profit can a junkyard business make? Since the goods and services offered vary significantly from one to another, published junkyard profitability numbers cover a wide range. One owner reported earnings as low as $1,000 per month. Owners in larger, more populated areas report six-figure profits.
How do I become a motorcycle parts distributor?
Dealers are required to have a retail or wholesale location (storefront, business office, or shop) Provide pictures of the retail or wholesale location. Provide a current business license or sales tax ID. Fully complete the dealer application.
Can you make money as a bike mechanic?
On average, a bike mechanic makes $29,282 a year according to data from PayScale. Hourly, that's about $12.82. Pay can increase depending on a bike mechanic's level of experience, education, and certifications. They may also get commission, bonuses, and overtime pay that boosts income.
How do I start a bike mechanic?
How to become a bike mechanicGet a high school diploma or GED. Like many other positions and industries, if you plan to work as a bike mechanic for a bike store or sporting goods store, you'll need a high school diploma or GED. ... Take a bike repair course. ... Get experience through work. ... Earn a certification. ... Grow your skills.
Is the bicycle business profitable?
On average, the retail profit margin for bike sales is 36%, although the margin is somewhat higher for other types of cycling-related products, such as clothing and accessories. By selling a combination of bikes and other goods, the average bicycle shop earns a profit margin of about 42%.
How cold is too cold for a motorcycle?
32 degrees FahrenheitIn general, you probably should not ride a motorcycle when the temperature is below freezing (32 degrees Fahrenheit) outside. This is because ice can form on the road, increasing the risk of losing control of your bike, sliding, and getting into a motorcycle accident.
What does fine C mean?
FINE-C: Fuel, Ignition, Neutral, Engine cut-off switch, Choke and clutch. FINE-C is an ordered series of controls you should always engage when starting your motorcycle. With certain bikes, you may need to skip steps that don't apply.
How do you steal a motorcycle?
"Grab and go” is a typical method for motorcycle theft. This takes at least two perps who drive up in a van or other large vehicle, jump out, load your bike, and drive away. These perps are more likely to get caught.
How does a salvage company work?
Auto salvage yards purchase used or junk cars from vehicle owners for an agreed upon cash value. This quote is determined by a variety of factors. If you accept your cash offer, the salvage company will either pick up your vehicle or have you drop it off at a set location. You'll get instant cash for your vehicle.
How do salvage companies work?
Depending on the facility, many junkyards will evaluate the parts and leave them intact inside the vehicle, allowing customers to pull their own parts and do the manual labor. Other companies will pull the parts themselves, clean and refurbish the components, and then sell the parts online or in a retail location.
How do I start a spare part business?
The spare part business requires a lot of money to start....You can start by partnering with a reputable car spare parts mega dealer and grow from there before importing your own spare parts from overseas.Research and education: ... A business plan. ... Fund/Capital. ... Shop/Warehouse. ... Social media accounts/digital presence.
How do I start a motorcycle business in Kenya?
You need to understand how you can venture into the business, its challenges and how to start to succeed.Identify a Business Niche. ... Draft a Business Plan. ... Raise Startup Capital. ... Get the Best Motorcycle Dealer. ... Get the Necessary Licenses. ... Get Insurance. ... Select a Suitable Business Location. ... Motorcycle Fleet Business in Kenya.More items...•
Due to the spread of the coronavirus, is this business essential?
No. Under current guidelines across multiple states, this business is not classified as essential while emergency orders are active.For more inform...
What are the costs involved in opening a motorcycle shop?
Veteran motorcycle shop owners recommend a budget of approximately $55,000. This number could vary significantly, depending upon the inventory you...
What are the ongoing expenses for a motorcycle shop?
As a repair and retail establishment, you will be facing a number of ongoing expenses. In addition to the standard rent, utilities, phone, and Inte...
Who is the target market?
Men falling in the 18 - 25 and 40 - 65 age brackets represent more than 80% of motorcycle sales. While your shop will generate revenue from novice...
How much can you charge customers?
Fees for maintenance, repair, and bike customization are based on labor and parts. Parts and accessory price are generally marked up 100%.
How much profit can a motorcycle shop make?
Unlike many businesses, motorcycle shops often see a profit in the first year. While the first three years may generate a profit of $13,000 to $17,...
How can you make your business more profitable?
Many motorcycle shop owners report having significant success operating an online motorcycle parts business. Since bike shops are often a place to...
Is this Business Right For You?
If motorcycles and their subculture are your passion and you possess both the knowledge and drive to manage your own business, opening a motorcycle...
What happens during a typical day at a motorcycle shop?
You and your team’s daily activities will be defined by the services you offer and how you structure your business. In addition to administrative d...
What are some skills and experiences that will help you build a successful motorcycle shop?
Those considering embarking on this new business path must possess significant knowledge of motorcycles. You should be educated on parts, repair, v...
Choose Your Business Structure
Do you want to be a sole proprietorship? An LLC? Or, a corporation? This might not seem important, but each business structures has its pros and cons. A sole proprietorship is the easiest to set up but it offers the least amount of legal protection. If you get sued and lose your business, your personal assets could be at stake.
Create a Business Plan
A good way to start is to create a business plan that will help you set your priorities. The plan is also a good document to share with banks or other potential sources of financing for your business.
Taking Care of Business
Your motorcycle shop will need to follow the rules and regulations for businesses in your local area. For example, can you start your motorcycle shop from your home garage? Zoning laws vary by state and by city, so check with your local government about which businesses you can or cannot run from your home.
What Do You Want to Offer?
What do you want to do with your motorcycle shop? Do you want to sell bikes, or do you want to repair bikes, or detail bikes – or do you offer some combination of those skills? How about clothing and accessories? The more services you can offer your fellow bike enthusiasts, the better – but you need to consider additional factors, as well.
Finding Inventory to Sell
There are a variety of ways you can go about getting inventory for your shop. You can scour junkyards and the want ads for old bikes and bike parts for sale, or you could buy into a franchise and sell those bikes. You can also go to auctions where bikes are sold and purchase bike inventory that way.
Choosing Accessories to Stock
Knowing your target audience will help you decide not only what kinds of bikes to offer, but the type of accessories they want as well.
Create Your Workspace
Your shop will need a room where you can work on bikes that is separate from your showroom. Although everyone loves to see shiny bikes, most people don't want to see the grease, dirt and grime that goes into getting them that way.
Do you need a license to work on a motorcycle?
As some states require motorcycle mechanics to obtain a license to perform work, others do not , however, a business license will, most likely, be required . Please check with your state’s requirements as you begin your business plan.
Do you need to know your stuff to own a motorcycle repair business?
They will offer moral support and depend on you to keep them rolling! So, if your end goal is to own your own motorcycle repair business, you must know your stuff. Education is the key element in providing services that your clients will need and appreciate.
What does it mean to run a motorcycle shop?
After all, running a motorcycle shop doesn't only mean doing repairs -- it also means selling motorcycle accessories like helmets, gloves, leather clothing , and sunglasses, and even motorcycles on consignment.
How much does a motorcycle service technician make?
JobBank USA says salaries for motorcycle service technicians can range from $25,000 to more than $41,000. Still, even if you don't have any background, for as long as you have a good business sense, you can start one by hiring an experienced technician while running the overall operation of the business yourself.
What to do after you evaluate your competitors?
After you've evaluated your local competitors, it's a wise move to speak with somebody who is already in the business. It's very unlikely that the local competition will talk to you. It'd be crazy for them to teach you the business.
Is it bad to expand too soon?
The natural evolution of a healthy startup is growth and expansion. Although it can be dangerous to expand too soon, it is just as dangerous to ignore growth opportunities when they occur. At the very least, motorcycle repair entrepreneurs should develop a growth strategy that incorporates short-term and long-term objectives.
What is Jim Drew's bike shop called?
After graduating from Motorcycle Mechanics Institute in 2011, Jim opened up a shop of his own called Hingham Cycle, which he still runs today. Keep reading to learn all about Jim’s story, as well as his tips for aspiring motorcycle techs and shop owners. Get to Know Jim Drew.
Did Jim Henson ride a motorcycle?
While Jim had always loved motorcycles, he didn’t pursue it as his career in the beginning.
