Want to open a Snowmobile/ATV dealership.....any pointers?

[SledsWest]

I'm wanting to get out of my corporate job and be my own boss for once. I'd love to open a motorsports store but I'm hesitant to pull the trigger because its a HUGE step into the unknown for me. I have a million questions that I wish I could ask an experienced dealer but I don't know any and I don't want to tip off any local dealers to my potential plans.

How difficult is it to get a business like this off the ground and be a profitable biz?

Are there any tips for success?

Is this type of business able to support me and my family in the near future or has the industry pretty much gone in to terminal decline due to the economy?

I have a bunch of other questions too but these are the top three for me right now. Any help would be appreciated.

 

[christopher]

You should take with FREEAGENT.

She could offer you a wealth on insight on how to make it work.

 

[Dam Dave]

RUN the other way

 

[Chubby]

Stay where you are at. The money to be made was years ago.

 

[Hardass]

You saying it's a huge step in the unknown is not a good start. So many dealer ships have and are failing. not to say it can't be done though. If your that big corporate guy that just lost his job and got a 40 something million severence package Heck go for it. the world is full of unknowns.Can you live with it if it fails?

 

[Mafesto]

I am not a manager or owner, so take this with a grain of salt, but I have spent over 7 years in service & sales at a successful marine dealership & the years that we sold sleds were the years when sledding was the least fun for me.
What I'm saying is that the stress that comes with the biz could spoil the love you have for motorsports.

 

[KSH]

Is this type of business able to support me and my family in the near future or has the industry pretty much gone in to terminal decline due to the economy

This is the only problem I see with your plan.
I think a superstore could make it these days as a long term investment. But, if you need to support your family, your probably going to be under funded.

In this economy a couple of years ago I seen the poorly managed and under funded business's of all types close up. Now I'm starting to see some established business's close there doors.

Do your due diligence and good luck

 

[knee deep in it]

the easiest way to become a millionaire in this industry is to start with 2 million.

With the internet, it is pretty hard for the dealerships to make money on parts and accessories. I know exactly how much a part is before I step into a dealership. I will pay a little extra but that is it. I just can't justify paying someone to order in a part if I can do that for 1/2 the money.

Same for the sleds. I don't think the dealerships make much of the new sales.

To be honest, I don't know how they stay in business.

 

[snowmobiler]

last i heard nobody has jobs to buy those fancy toys.good luck.

 

[leeee]

its tough

im part owner in a small local shop, i got into it because i had a friend that needed a job and wanted to manage it and used to have his own shop, that being said, weve been in business for 3 years and i havent made any money, at the rate its going it will take at least 10 years to pay back the $$ i invested- which wasnt much when your talking about this kind of thing. I have a Construction company and have been fortunate to stay really busy with that even with the current economic situation. The construction is my primary source of income and my wife also works. I dont forsee the shop ever making me any substantial amount of $$ but it is fun for me and i get all my parts and gear at cost and it gives a good buddy a job he enjoys. i dont know if that helps you at all, but its my two cents worth. good luck -lee

 

[lookup]

I personally feel that with a good bis plan keep your prices fair and most important customer service with parts in stock i know a guy thats running a single dealership with the best service with parts on hand and he just built a new building but hes not the cheapest but fair service is were its at my $.02

 

[m8magicandmystery]

how about the option of purchasing an established business that you can review the books and have someone stick around while you learn the ropes..??..one with living quaters above..??..a fairly healthy and happy clientele..???...one that will finance partially to allow you capital for good inventory and volume purchasing for competitive pricing for all the other upsells...??...one with some possible faulty wiring just in case you need out..

 

[GRINreeper]

dealerships stay in business with service departments and parts and accessories. I don't think they make a whole lot on selling new machines. they are banking on guys like me to go out and break them, then not know how to fix them. so I bring it down to them and pay to have it fixed.

I am in the home theater industry. I used to make 300-400 bucks selling say a 50" plasma. now I don't make anything.... literally. I tell most of my clients to check papers and flyers for the best deal. If they find something they like I either have them go get themselves, or I will pick it up and deliver it for a small fee. but....I still make the same installing it and servicing it when things go wrong.

Maybe what the sled industry needs is a classy used atv/sled dealership that offers a good alternative parts and service outlet. also offering the knowledge/parts for all the coolest mods etc....I dunno just thinkin out loud here. I have seen lots of mod shops....but nothing that carries out a good reputation and sells used sleds etc....

 

[SledsWest]

Thanks for your help and input guys! Its given me quite a bit to think about. I've always wanted to have my own biz as I HATE working corporate and dealing with all the BS that comes with working a corporate job. But on the other hand, it pays well and is relatively stable right now and provides well for my family and my snowmobiling habits!! Its a catch 22 that I've really been racking my brain over.

 

[knee deep in it]

if you hate corporate bs, wait until you get to enjoy your interaction with the dealer rep. They almost make lawyers look good.

Here is some experience I have had. I used to love Karate. GOt a 2nd degree black belt. I was good at teaching so I opened my own dojo. Started it from scratch and had one fo the busiest ones inthe city for the organization I belonged to.

It was a success in every way except for one - I hated the responsibility and the bs associated with running that business. It wasn't full time and it was way too much work / bs for a part time gig.

I turned it over after a year and I haven't put on a gi in 5 years. If you love something, don't do it as a business. Do something that pays enough money to do the thing you love.

 

[Osborne Performance]

do not do it stay with your job and figure out a way to be happy there i did it know i have the bills the shop and still have to figure out how to make ends meet

 

[NapaMatt]

I made the JUMP... Young 20 years of age... i was in the biz already for about 8 years..

It's been a rough 4 - 5 years owning... but i look at it like i bought my self a job! That i can be my own BOSS..

It was a Jump, i would take again if i had the chance... You wouldn't have a life.. It takes LOTS of your time up.. do think u can only work 4 days a week... starting off i worked 7 days a week! 14-18 hrs a day..

But i think it is worth it..

Have a good customer base!!! they will stick with you through the hard time and the good ones!!


MY .02!

 

[suitcase]

Matt is so right, buying yourself a job. I have worked on this for yrs. in a diffrent type of work. And I keep comeing up with the same thing, I make more money in the long run working for someone else, and have no risk. By the time I figure in just the TAXES, alone that you pay for being in biz well a guy loses right there. Don't forget about overhead, these are just two of the things that I see. Then throw the eco. into the mix and your looking at a big Hole right off the bat. But on the other hand, had an old guy tell me once, (If you have not gone broke a couple of times in your life you have not done anything) LOL, really don't like to live my life like that.
One more thing, if you pull the trigger, here is something that my uncle said to me. ( He is a succesfull biz owner) You need to have the cash for your family to live off of for two yrs, and not rely on the new biz to put food on the table and pay your normal bills.
Good luck!!

Just my two Penny's

 

[polaris dude]

I think if you treat your clients right, and always do things in an up front manor, you could be successful even in times like these. People never seem to mind spending an extra couple bucks to keep the honest dealers in business.

 

[ManBearPig]

I can't really comment on Sled/ATV dealer side of things, other than I have meet many and call a few of them my friends. It is a business that has always intrigued me and have looked into it a time or two.
But what I can comment on is owning your own business. Best thing ever for me. 9 years and still going. Yes it is hard work but it is your hard work. Money is a challenge especially in this day and age when it seems like everyone in big white buildings back east have it in for small business. But I can't see myself going back to the corporate life I had before. I made plenty of money for a lot people back in those days and all I did was worked my butt off trying to catch that magic carrot of success. I called it Golden Handcuffs. They paid me just enough to keep me comfortable. But when the industry went south, I got thanked by getting laid off. That is when I went the business owner route and haven't looked back since.