Im wanting to start a business with Sportbikes. Mainly building and selling custom motorcycle swingarms. There are already companies out here doing this that are established and i guess im worried about being sucessful. On a whim, i went out and bought all the tools i will need to start this business (welder, plasma cutter, compressor, chop saw, and a couple more misc tools). I drew out my idea on paper to scale and im in the process of building one right now. I would only be offering product for one bike, as for, that is all i own right now. With the sale of swingarms for this bike i can buy other bikes and make swingarms for them, and continue that until i offer product for all sportbikes. This all might seem sketchy as i find myself in doubt a lot as well. Like i said there are already establishes companies doing what i intend to do the only difference is my idea for the swingarm and possibly price, as i would offer my product for less. I dont know what to do or if i should aproach this differently, and if this will even work. Anybodies input will be greatly appreciated. If you have any questions ask...im sure i have an answer. Thanks, Matthew
#1. "RE: Input Needed and Appreciated" In response to Reply # 0
Well... 90% of all new businesses fail. So, there's a good chance that you probably will not succeed. If this is terrifying to you, then you should get out now. On the other hand, you could be that other 10%
In terms of what you're doing - you MUST have a plan. You NEED to figure out how you're going to be better than your competition. Competing on price is probably not going to be enough - it may, but, it's probably likely that the bigger companies could undercut you without too much trouble. So you really need to examine the market and figure out what's going to make you different. Is it the personal touch? It is customization? Is it because your swingarm is unique? I don't know anything abou tthe motorcycle industry so I can't help you out here. But, I can tell you that most businesses fail because the owners don't have a plan and didn't really examine the market before jumping into the water.
Also, how are you going to be promoting your product? Are you going to go to motorcycle shops? Set up booths at shows/races? Have a website where people can buy? How are you getting to your target market?
Just some food for though
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#2. "RE: Input Needed and Appreciated" In response to Reply # 0
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