Friday, December 12, 2008

Starting A Remote Controlled Car Business

Starting an RC car business is a serious commitment to a hobby that many people take seriously. However, it isn't the business decision most people would care to take since it focuses on an enthusiast market.

However, if your passion is for this hobby, and you know where to find other people with this same passion, then you have, at least, the first qualification of a good RC businessman.

If you are considering opening a remote-controlled car shop, then consider the following while planning the course of your business.

1. Passion. This is the most important question you must ask yourself before starting a remote controlled car business. Do you have the passion for remote controlled cars? While it is possible to still start this business even if you do not have much of a passion for this hobby, an innate love for RCs definitely helps.

This is because as a remote controlled car fanatic yourself, you will be aware of the latest innovations in the hobby. This is knowledge you could incorporate into your business.

You will also be keenly aware of the needs of the enthusiasts - be they beginners or experienced. Knowing what your market wants also gives you a great advantage on knowing what they need. And filling their needs is what makes a good business tick.

2. Associations. It would be great if you knew your market. If you have contacts with a few RC associations then that would be great. You would have a virtual gold mine of potential customers to help keep your business afloat. Always keep yourself in the know regarding the latest in radio controlled technology and try to keep abreast of all the new developments.

This way your shop becomes more than just a place to sell remote controlled cars; it also becomes a place to sell the idea of having fun with remote controlled cars.

3. Producers. As a retailer, your first goal is to find a wholesaler of remote controlled car parts, models, and stocks. Make sure you find out which wholesalers give the best prices and the best terms. Make sure you stock up on the most popular parts around. But don't forget to get a controlled amount of pretty much everything else just to make sure your store is comprehensive.

4. Business Sense. Business sense is important in any business. You should learn how to take inventory of your stock, anticipate demand for certain parts, and keep the ratio between supply and demand stable. Also, you should keep good accounting records of your cash inflow and your expenses.

you may be interested in reading my other guide: Buying RC and Upgrading

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