Auto parts Online business, is it the right time to expand? How to promote different?

[haryj]

Hi All,

I have previously been registered a very long time ago and have lost all my log in details, however, i am now actually trading, so a new user account is handy

I am currently trading from home for over year now on eBay. I specialise in Automotive performance car parts. Yes, i understand to some this field is gigantic and has most probably been covered numerous times, hence making it harder to do so well within it.

So far my stock range is not huge, obviously due to the fact of how much i can possibly store within my home, though my basement is large, but this gradually is becoming cramped! My current range of products is Silicone Hoses.. Elbows, Couplers, Reducers and much more..

When i started this venture i had some savings which i put forward. Starting of very small with around 6k spent. 4k on stock and 2k on website, logo designs and etc. Like mentioned above, due to my range not being very extensive, my total monthly turnover will not be very great. So now it is time to source a different variety of stock from my suppliers.

The questions now begin..

How much of a large premises should i go for? 1100-1500sq ft:|

Will i be able to recuperate my monthly rent from my business so it does not leave me digging into my own personal funds?

Seen as the Automotive parts sales field is large on ebay, what can i do in order to stand out and drive further sales? i don't really want to undercut majorly:|

Is it worthwhile selling on Amazon?.. Mixture of pro's n con's have come my way.

Thanks for reading, i look forward to reading your inputs

Regards,
Hary

 

[youronlinestuffcom]

won't how much money you would make dictate all this?

 

[Ranks]

Only you will know how much space you'll need, but a couple of pointers; Get enough room to grow into, but don't over commit to a big place and cripple yourself with rent (and don't forget, rates)

You'll know better that anyone if your biz will cover the rent - it may take a couple of months to begin to see the benefits of more space though....

To drive more sales and increase your margins a little (no ebay fees) put some more work into your site. Try to get it to the same level as the ebay side would be a good mid-long term goal.

Jay

 

[medproideal]

won't how much money you would make dictate all this?

 

[haryj]

Which will come first is what i kind of find hard to swallow..

Promoting with what i have (thought not very great) and then Expanding..

or

Expanding stock and to a new premises and then promoting all at once..
for a significant increase..

 

[Ranks]

First comes the work, then the money. Hopefully

 

[voyage]

Work out what you make, add in the extra costs and see what your left with.
If you have some left over then that is great and expansion will help.
If not work out what else you will have to sell to make the extra monthly out goings.
Work out how to get the extra incomings.

Brief I know but covers the main points

 

[haryj]

Ranks:

Over committing, i agree with you, too much = a lot of unnecessary expense. Too less = No room for product expansion.

Though i would like to expand into Tyres & Batteries at some point, this will take up a lot of space, especially tyres. But to start of with i gather it wouldn't be advisable to jump the gun too far ahead. I guess with time and correct funding being in place, i'll be able to extended my range only then.

I will driver my sales and margins more now, it was my last year's resolution for this year, i started of selling 20 items per week and now it's hit around 65 even though it's not big, i can see progression, which is my biggest aim..

 

[haryj]

Work out what you make, add in the extra costs and see what your left with.
If you have some left over then that is great and expansion will help.
If not work out what else you will have to sell to make the extra monthly out goings.
Work out how to get the extra incomings.

Brief I know but covers the main points

I've not carried this out in a while now, as i've been very busy with personal life. But, yes, you are right on saying.. because i already have a few small items on mind, which i can see being great profit and not bulky to handle.

 

[MegaminD]

I agree with your thought and fact. Obviously work requires coming up with money. That the ultimate theory.