Starting a business

Hey guys, this thread just seems like a big family. So maybe some more experienced members can help me out or offer me advice. I got all the licenses and certificates I needed and I started an online only Toyota OEM parts store. I started a website but had some company who charged me $400 a month to run it, and it sucked, it was generating NO sales. All my business was from facebook (Mostly this facebook page) and other social media like Instagram. NONE was from the website. So, long story short I cancelled the website and now am saving up to have my own built. Do you guys have any advice for me? Any members on here own businesses and have advice for a start up company? Thank you very much for helping me! Its appreciated more than you know. It was called Toyota Parts Nation, if anyone saw that on Facebook.

Thanks again,
James

 

New business...manage your debt. It WILL eat your profits. Don't spend capital on anything that is not absolutely necessary for the business. Take a minimal salary. Grow slow.

 

Best of luck to you.

We don't manage our own webpages because we don't have the time (or knowledge) to do it well, but we're also not web based.

What Larry said is truth, keep your overhead low and re-invest profits into the business until it gets rolling. Nobody makes money if the doors are closed.

 

I think if you're going to run a online only business you need to have some knowledge of websites/SEO/social media. If I were you I'd start looking into those things. Building an ecommerce site is easy, building one that looks good and is easy to use is more difficult. You have to have a solid website to drive your traffic/customers to. Once that's in place then the real work begins.

 

Do you guys think this is do-able? I can get the money for a site, but is it worth it? I love business and the business side of things, and Toyota. When i had the site up at first I was doing pretty good on sales through other sources. I Just couldn't afford to have a site that i had no control over. That's why I thought it would be ideal for me to start a Toyota Parts business. I went to school and took the T-TEN program, which is the program the Toyota Tech's who are certified have to complete. I just couldn't see myself working as a Tech. though. I love Toyota's and love to learn how they work and operate. But I wanted something else, and I think this is it.

Thank you guys again for your advice!
I'm just worried I'm going to put all this money into it, for nothing.

 

I think its doable. The people that are out there doing it don't do it all that well. The hard part will be creating a site that works and is easy for the customer to use. Your dealing with a lot of models that have a lot of different parts. Your site will have to have thousands and thousands of SKU's which all will need to be priced. I'm assuming you aren't keeping an inventory? You get an order and you drop ship from your vendor?

 

I have a deal with my local Toyota dealership. Someone buys a part, I go get it and ship it myself. I have a wholesale contract with them. And yes the hardest part will be getting the catalog with the correct parts matching up to the vehicles on the website.

 

I have a domain name and hosting and all that. I had a site up and running, like I said they just charged too much. And the first dealership I went through said all I had to go off was the online catalog. I'm talking to more dealerships now though.

 

Do you think it would be worth it? Financially?

 

Now I'm trying to save money to build a website that is mine. A good website will be around $2,000 I am thinking.

 

I'll get some books! Thank you! Building it myself never really came across as an idea. I didn't think I had the skills.