I recently had a chat with an automotive technician friend of mine who is considering setting up a shop specializing in the sale of spare parts for racing cars. The gentleman was seeking my views on whether, firstly, it is a sound business idea. Secondly he was seeking my advice with respect to some of the things he ought to do, to succeed in this line of business. I was in a foul mood. Just before starting to chat with the fellow, I had been searching through the Jackson County Medford mugshots. The said Jackson County Medford mugshots are, in actual fact, photos of the Jackson county jail inmates (the ones who are currently in the facility). I had heard that a fellow who stiffed me some time ago had been arrested and sent to the Jackson County Jail at Medford, and that is what I was trying to confirm. Just when I had completed the search (which turned out to be unfruitful), the automotive technician approached me with the two questions about the business of selling spare parts for racing cars.
With regard to the first question, as to whether it is a sound business idea, I asked him what he thought. And he told me that he was convinced that the idea of setting up a business specializing in the sale of spare parts for racing cars is a sound one. I couldn’t argue with him on this, if his heart was in it. With regard to the second question, on what he ought to do to succeed in the business of selling spare parts for racing cars, I told him that there are two key things that he needs to do.
Firstly, I told him that to succeed in the business of selling spare parts for racing cars, one needs to continually practice good inventory management. The idea is to ensure that one has each and every spare part item a customer could ever ask for. This includes stocking obscure parts – parts that wouldn’t be stocked by an ordinary car spare parts shop: keeping in mind that the customers won’t just be seeking replacement spare parts. Some of them will be seeking the parts that are necessary in the modification of cars for racing purposes. If customers keep on asking for various parts, and finding them not in stock, he would run the risk of being regarded as a non-reliable supplier.
Secondly, I told him that to succeed in the business of selling spare parts for racing cars, one needs to network properly with people who are involved in the car racing sports. These sorts of sports are normally run by close-knit fraternity groups, and to succeed as a supplier, you need to find your way into the inner circle.