The fact that it is safety regulation to wear a helmet when riding a motorcycle, it opens business opportunities. Manufacturers have to come up with helmet designs to suit diverse economic class as well as different weather conditions. When shopping for a helmet there are some factors you need to consider
· Ability to regulate temperature
· Ability to reduce friction in case of sweating
· Your budget for the safety gadget
Yes, you have learned there is a gap in the market and you are confident you want to start the motorcycle helmet business. What are some of the parameters to look for to ensure your business is successful?
Availability of capital
This is a capital-intensive business. You will only learn this when you have a business plan and have theoretical figures on business projections. In case you lack enough capital, talk to financial institutions that can lend you, just in case of uncertainties.
Do a simple market research on the prices of different manufacturers vs. your capital. You should answer the following questions. How long can you sustain the business? What are the actual figures in sales to make you break through in the business?
Infrastructure in the business
This is a business that you not only need an office and the office electronics- printer, fax machine, photocopier, and laminators. You need to have contracts with various shipping companies to meet the demand of international markets.
Are you able run print, visual and audio media advertisements? In case you want to be the manufacturer, do you have the right machinery for mass-market production?
You have to carry out the right market research to ensure you stock the most appropriate helmet. Use questionnaires and word of mouth on motorbike users to understand their needs, or else, the gap for helmets might exist but you need the correct helmet for the market. You can also stock a variety as a test and check on which helmet receives massive sales. The bike routes might give you an idea.
Skilled and unskilled labor
Manufacturers or as a retailer of motorcycle helmets require professional skills in all departments to sustain the business as well as enhance business growth. An accountant for bookkeeping, human resource personnel to handle labor-related functions, customer care to help in operations. Loaders to pack big orders among other professionals.
Sales and marketing strategies
How will people know about your new motorcycle business? You have to use various marketing strategies available to create awareness. All this need money, you have to leave some percentage on your capital for this course. The business plan comes in handy to help on this. At times, you may need marketing automation application which comes with a price just to make the business move faster to the next level; without forgetting print – magazines, audio- radio and visual – television media which are expensive. The price is worth the investment, but it is advisable to hire a consultant to help in the market research to help you provide the right helmets for your market.