Rims are car accessories extremely popular with car enthusiasts and others who want to improve the steering, traction or look of their vehicles. A set of rims can cost hundreds of dollars or well over $1,000, giving rim shops the potential to earn solid profits. If you have a love for cars and want to become an entrepreneur, opening a rim shop may be the ideal venture for you.
Locate a space for your rim shop. If you will not offer installation, your options will be more flexible. Ideal locations include near auto repair shops, car washes and auto detailing centers. Busy shopping centers are also suitable.
Obtain the business permits and licenses required in your area to start a retail operation. This may include an employer identification number (EIN), fictitious name certificate (DBA), resale permit or state tax identification number.
Open wholesale accounts with rim distributors and manufacturers such as Rim God and The Wheel Connection. This will allow you to buy rims at a significantly reduced price and then mark up the cost to make a profit.
Buy fixtures for your rim shop, such as display racks, seating if you will have a waiting area and retail equipment like cash registers and a phone system. Contact wholesale supply companies to see if they will give your shop a volume discount.
Launch a promotional website or blog to show your inventory. Offer store location, contact information and exclusive coupons to customers who find you online. Having a website is a low-cost, efficient way for your rim shop to gain new customers.
Develop a marketing plan. Consider sponsoring local car shows or car clubs, getting a promotional team to hand out fliers at local nightclubs, producing a radio or television ad or planning your own car competition.