How To Enter Car Accessorizing
Staff -- TWICE, 2/25/2002
Nashville — Joe Cavanaugh of Stereo West, Omaha, Neb., Mark Miller, owner of Westminster Speed & Sound, Westminster, Pa., and Jim Spoonhower, VP market research for the Specialty Equipment Market Association (SEMA), each led seminars on accessories at Knowledgefest. They offered the following advice to retailers entering the market:
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Start with simple-to-install products such as light bulbs, air intake systems and shift knobs and then move to "level two" products that require an investment in special installation equipment. Level-two products include universal mufflers and exhaust systems. More advanced, level-three products include nitrous oxide.
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Assess who your customers are and what they drive to determine what type of accessories to stock, including truck or car. Determine if you are in an area with a lot or water sports or off-road vehicles or soccer moms to help fine-tune your market.
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Don't be afraid of working with distributors, which are an integral part of the performance accessories market. There are more than 1,900 suppliers and you can't stock everything.
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Spoonhower ended his seminar with a quote from Will Rogers: "Even if you're on the right track, you'll get run over if you just sit there."
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