STARTUPBIZHUB

Owning a Racing Retail Store

It’s easy to work hard if you love what you’re doing. So if you love car racing, why not start a racing retail store? We have a guide on how you can open your store and promote it to numerous racers for your ultimate success.

Currently, there is a rapid market expansion of racing parts and accessories. A private estimate report reveals that 385,000 people will complete an organized auto race in a year.

This estimate includes off-road, tractor pull, formula car, autocross, sports car , modified, open wheel, stock car, or drag racing.

The overall result is that hardcore racing products’ total retail market annually will be $1.5 billion, and it will continue to grow. With enormous grassroots motorsports activity base and expanded television coverage, auto racing is still a thriving industry. In fact, it’s now America’s fastest growing sport .

Marketing a Racing Retail Store

A good strategy to market your racing retail store is to reach all racers across geographic lines. Specific strategies that you can follow are the following:

  • Press Releases – local racing papers such as Pit List, Dirt Late Model Digest, Late Model Digest, and Racing News usually offer to run stories or releases concerning racing retail stores.
  • Print Ads – run ads on a local newspaper to put your name and number in the mind of the customer.
  • Decals – beginner racers typically display decals in their tool boxes, haulers, and race cars.
  • Race Car Sponsorship – some racers can display your store logo on their car if you offer them technical support or discounts on their purchases.
  • Apparel – you can design and produce apparel displaying your store logo. Then, these can be either given away or sold with qualifying purchases.
  • Trade Shows – leverage annual trade shows to earn revenue and further expose the name of your racing retail store.

Racing Retail Store License

The variety of products that your racing retail store could offer is up to you. You can sell wheels/tires, racing and safety equipment, suspension, accessories, performance products, or even car audio components. Some shops also offer car services such as brake replacement, oil change, or performance tuning. Of course, it’s best if you partner with manufacturers who can protect you from any product defect. To get more information and tips about racing, you can go to stockcarracing.com.

If you want to properly setup your store, you need to acquire initial inventory stock as well as initial set-up that would include signage, paint, furniture, and displays. Expect initial operating expenses to cover store equipment and supplies, rent, payroll, taxes, insurance, utilities, and advertising expense. To prevent trial and error, you may want to just acquire a franchise from an established retail racing store. You can check out vividracing.com and learn about their franchise opportunity.

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1 Comment

  • festus linstrom said on September 17, 2014
    I'm a stockar driver in south africa and i'm thinking of opening a retail store for motor racing in cape town south africa

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