Business idea(s)

[ODS]

Just gauging interest I want to start a business selling wheels that I import from japan. It can either be a partnership or a "you sell then I resell" kinda deal. I have enough capital now to place a small order with more on the way. Let me know if anyone would be interested. If it all goes well we can evolve into other parts or motorsets. Thank you

[Broadfield]

There are already several vendors on this site alone that do this very thing. Only you can decide whether or not it's a very good business to be in. I'm going to go out on a limb and say there are probably a lot easier ways to make money.

[ODS]

You underestimate my love for wheels lol. But that's good info I've just been racking my brain trying to think of a business idea

[iamtheyi]

Whether you love wheels or not is not the issue at hand. Broadfield is right when he says there are many vendors here that already provide that service. You will be a late entry into a competitive business arena without a "name". That's going to be rough.

[KA-Life86]

You underestimate the amount of vendors on here that do the exact thing you are wanting to do. This is something you need to ask moderators and site admins about, not the general chat audience

[ODS]

I respect that, let's change gears into a brainstorm

[xoxide]

Lets not, and say we did? If you want to do it, quit talking about it and do it. Make a name for yourself, offer great prices, and the buisness will come.

[10K Redline]

Respect your ambition, just do your homework then decide if you're willing to take it and follow through with it.

Just know reselling product, although it's the easiest way to start a business, it's probably the quickest do die down and keep alive.

[ODS]

I will own a business but that first step is so crucial to get right. I need to look outside the scope of my own mind and opinion to understand what options are out there.

[Wheelchair]

I disagree with some of the comments left so far.

I don't believe that one business is necessarily easier to start and operate than another type of business. If you're wanting to succeed, you're going to work your ass off no matter what you get into.

With that being said, I believe that there are SMARTER businesses to start. A start-up capital and copious enthusiasm about wheels is no where near a starting point.

Since you're gauging interest... let me ask you... who are your competitors? What are your margins? Do you foresee a continuous demand for Japanese wheels... and will that demand be satisfied with your supplier? What's the projected turn-around time for each set of wheels? Have you done a SWOT analysis? Do you have a business plan?


If you have answered "NO" or "uhh...I dunno" to any of these questions, you still have some homework to do.

I admire and respect your ambition... but in the real world, no angel or venture capitalist will invest in you just because of your LOVE for wheels.

[nrg]

get a time machine.

list of vendors that use to during 2000-2006:
alteration fetchgarage takumiproject rbmotoring rrr-game jrautoparts

profit margin is low now.

[Kevin920415]

you need ALOT of exposure for your company... ALOT of exposure.

[ReEducation]

I see the costs outweighing the benefits. If you love wheels then maybe learn how to paint and powder coat. I don't know what kind of local competition you have, but either way I see that as being more profitable than buying and selling wheels unless you're getting a bitchin' deal from the supplier. I wouldn't quit your day job though lol.

[ODS]

The person who succeeds in a business is the person who believes at a philosophical level that it will not fail. I don't feel that way about wheels, that's why I'm looking for options. Look at John D Rockefeller. I just have to match is passion and commitment

[nrg]

You first need to understand your audience/consumers of the wheel/car industry.
1. a lot of people are more likely to buy fake new wheels
2. a lot of 240 owners (rx7, corolla, honda, etc.) that modifies car are poor people that make less than 500 a month. these are kids from 16-25. i find older people willing to pay for wheels over 2000 dollars.

keep in mind this is all from my perspective from the past 10 years.
you're also trying to get into a small market of used japanese wheels.

if you're serious then you should look into getting specialty wheels that are perfect fit for specific cars.

[Corbic]

Originally Posted by ODS

The person who succeeds in a business is the person who believes at a philosophical level that it will not fail. I don't feel that way about wheels, that's why I'm looking for options. Look at John D Rockefeller. I just have to match is passion and commitment

...and start an Oil company.

[Corbic]

Originally Posted by nrg

if you're serious then you should look into getting specialty wheels that are perfect fit for specific cars.

Seems more appropriate as a hobby instead of a business move.

A better business plan would be to move to LA, pay skanky girls to have sex with you in your 240 while your buddy films it and then sell the videos online. People seem to make millions doing it.

[ODS]

More like a fracking company lol A worthy idea I need that gopro with the remote, let's get away from the wheel idea, I'm getting the vibe it not going to work out.

[theicecreamdan]

have sex ON the wheels, and then sell the wheels at a premium.

[ODS]

Lol agreed

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[iRONDONkey]

very low margins

you know how the 240 crowd is... XXR's sell really well.

dont do it

[Flicktitty]

Coming from someone who has recently started their own business it is alot of work. It's not a set schedule, You don't work for yourself like alot of people think you do, you work for your customers. The automotive parts world is pretty cut throat these days. I think you need to focus on more then JUST wheels, if you did some sort of front clips/engines. AND you were good and reputable you could make it. It seems these day's there are far to many hit and miss places for motors/clips. You could even extend it to finding/sourcing other japanese parts. Say axles/diffs/interior stuff. computer stuff,etc.

Best of luck bud if this is what you really want go and try it. You'll always wonder what if? If you don't try it. That's my theory anyway.

[ODS]

It's funny because I found a overseas supplier lol lots of crazy nice wheels. But thanks for the encouragement, eventually I will find that "thing" that o can really get behind

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[TheWolf]

Originally Posted by ODS

It's funny because I found a overseas supplier lol lots of crazy nice wheels

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Here is the issue with wheels and your potential pitfalls.

One, you need warehouse space to inventory and some time of refinishing machines because "those wheels were totally fine" in japan and when they arrive and two are bent. Your inventory is used so you're going to need it to be as nice as possible. This warehouse space that you rent is going to need a loading dock because unless you've got a semi and trailer you haven't told us about, when you purchase a container, it will need to be delivered to a commercial address where it can be unloaded with a forklift. Not you and two buddies by hand. The driver isn't going to wait that long.
You will need a significant upfront investment for inventory. That needs to come from personal cash, not an SBA loan. Regardless of what some business grad tells you, never borrow money for inventory. It just never works out in small business.
So now that you've bought your inventory, you have to move it before dead costs eat it up.

Your costs are, warehouse rent, commercial electric, commercial water, commercial dumpster, cellphone for business, webserver fees, cc processing fees and most important. Payroll.

The pitfalls of this business are simple, people eat their inventory to make bills. OK say you intially order 30k in wheels and it takes you 6 months to sell them. If in 6 months, you've got 30k in the account to re-order, you're doing it right. Most small businesses will eat their inventory. "Man I've got to sell these volks for $2k because I've got to pay my rent next week". Instead of taking the profit off the volks, they'll take the whole sale and apply it to whatever bill is in critical need.

So figure out your costs. Then figure out your profit margin and then how many times you need to turn your inventory to cover those costs. If you've got 3k a month in costs, and you order 30k in inventory which you think you can make 40k with but it takes you 3 months to sell then you probably arn't going to make money. You're monthly costs will eat up your profits off inventory and if you have a slow month you'll be going backwards. If you sell everything in 2 months, you've only made 6k which isn't crap. So in your numbers you'll need a significantly hire profit margin than that.

Run your numbers, make your decision.

[Corbic]

^ this guy gets it.


The wheel deal is more of a hobby idea in my book. Buy a set or two of rare pieces. Refinish them by hand, drive at round on them, sell them, trade them... come out $100-300 ahead, repeat.

Do this 2-3 times a year and you'll have owned a pile of cool wheels and either break even or be a few hundred ahead.

[yokotas13]

gonna be honest

5 years ago when the yen rate was 130 to 1 I made a fucking killing selling wheels.
2-3 sets a week

Buy a set for 3-400 bucks. Post them, sell them for 1-1500 USD and buyer paid shipping.
All the viennas, emitz, equips, eurolines, rays, etc that ive sold over the years, i never paid more than 500 for a set (and those were the equips)

NOW, it is too hard to find those deals. yen rate is too high, and it isnt worth it. thats why i stopped doing it the last year i was in japan.

so yeah. i basically made an entire separate living selling wheels in japan. over 4 years it was almost 240k in total income via paypal, and subract maybe 25% for operating costs.
I built alot of cars and bikes while i was there to say the least

[ODS]

I want that life lol but there has to be grunts, and not everyone has the luck, skill or opportunity to make it happen.

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[uraznfriend]

Originally Posted by ODS

The person who succeeds in a business is the person who believes at a philosophical level that it will not fail. I don't feel that way about wheels, that's why I'm looking for options. Look at John D Rockefeller. I just have to match is passion and commitment

J.D Rockerfeller employed some of the dirtiest business practices ever, all the things he did to get ahead is illegal today.

[yokotas13]

Originally Posted by ODS

I want that life lol but there has to be grunts, and not everyone has the luck, skill or opportunity to make it happen.

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then dont try

go home

[LEG1T]

Originally Posted by xoxide

Lets not, and say we did? If you want to do it, quit talking about it and do it. Make a name for yourself, offer great prices, and the buisness will come.

Boom, exactly.