Owning a business is part of the American dream for many. Business opportunities in the mobile electronics industry are varied in scale and focus. Here are 2 of the mainstream business opportunities available for young entrepreneurs.
Small Installation Only Operation
Perhaps the easiest business of the group to open this is typically a small one-person operation without a storefront. Start up cost are low with the installer either working out of their home garage, a small commercial space, or by taking the show on the road to customers vehicles at their home or office.
This business does not typically offer the customer a full service retail experience with a storefront. However, quite often these young entrepreneurs will develop a word of mouth following that results in a very profitable operation.
The cost of doing business is kept low by eliminating the expense of a retail location, stocking inventory, maintaining product displays, administrational staff, utilities, etc.
Local distributors supply this kind of operation with installation kits, antennas, wiring harnesses, adaptors, and other items that are essential to almost all installation tasks.
Getting Started
- Young entrepreneurs often get their start at Mobile Dynamics. We offer 4 and 8-week programs that provide an excellent start to a successful business.
- Get nationally certified through MECP (Mobile Electronics Certified Professional) organization.
- The success or failure of most businesses is not based on the expertise or lack there of in the field. Most business owners succeed because they are good businesspeople. Although this type of operation is one of the easiest to organize business skills are a must. Although you don’t need to be an expert in marketing, sales, tax laws, insurance, people management, accounting, state and federal laws, banking or inventory control. The successful businessman has limited knowledge of all these critical elements of running his or her business. Whether you take evening classes at your local community collage or go for a full degreed program, the benefits will far outweigh the time invested.
- Get some experience. Working for an existing retail operation will give you the experience you need to get started.
Retail Store
The dream of most successful installers is to one day own their own retail facility (shop). This type of operation offers customers a full retail experience. The most common components to this type of operation are as follows:
- A building large enough to house both sales and installation.
- The front end of the operation is typically the retail storefront. This area typically at the front of the building contains equipment displays, retail counter space and demo rooms. Sales staff works in this area.
- The back end of the operation is a garage space large enough to handle the number of vehicles appropriate for the size of the operation. Installation technicians work in this area.
- Secure equipment storage space.
- Office space.
- Customer and staff restroom areas.
- Customer and staff parking.
A retail store offers its customers a wide selection of mobile audio, security, navigation and video equipment from which to choose. Often up to 10 different manufacturers are represented. The ability of this type of operation to both sell and install equipment provides the customer with convenience.
Retail stores range in size from small one store (mom and pop) operations to large national chains. No matter the size, the basic business model for each store is relatively the same. Here are some fundamental operating principles:
- Marketing-typically this is done through local radio, TV and press.
- Product Mix- often several competitors will offer customers the same product mix. Choosing product lines is critical and often involves finding out what the competition has to offer and selecting quality products that are not being represented in the market.
- Staffing-no matter the size of the operation, staff will include both sales and installation personnel. Larger operations will often include both a sales and installation manager. Administrational staff may also be part of the mix as the operation gets larger and may include a general manager, parts counter staff, office staff, and even accounting personnel.
This type of operation requires a considerable amount of planning and financial resources. A working knowledge of basic business practices is essential. The would-be owner must have an understanding of many facets of the daily operation of a business.
Getting Started
- Mobile Dynamics educational programs offer the would be storeowner the confidence of understanding the complex technologies involved in today’s advanced systems. Our 4 and 8-week programs are an excellent start for business owners.
- Get nationally certified through MECP (Mobile Electronics Certified Professional) organization. Your installation and sales staff should also be encouraged to participate in MECP certification. National certification will ensure customer confidence.
- The success or failure of most businesses is not based on the expertise or lack there of in the field. Most business owners succeed because they are good businessmen. Marketing, sales, tax laws, insurance, people management, accounting, state and federal laws, banking and inventory control are all part of the daily concerns of a successful retail store owner. The successful businessman has limited knowledge of all these critical elements of running his or her business. Whether you take evening classes at your local community collage or go for a full degreed program, the benefits will far outweigh the time invested.
- Get some experience. Working for an existing retail operation will give you the experience you need to get started.
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