Are you thinking of setting up a new business soon? Do you have previous experience within the automotive industry? If the answer to both questions is yes, you’ve got a wealth of opportunities open to you.
The only trouble is; what should you sell in your new enterprise? There are plenty of things you can do, but the trick to maximizing your profit is to find a niche market. Yes, I know; that’s easier said than done, right?
There is one niche that you ought to consider operating in: the custom dash kit market. This might sound like an odd market to target, but if you give me a few minutes I’ll explain why it’s a dynamite idea!
Consumers don’t want to feel restricted
When you buy a car these days, it will usually come with a non-standard dashboard layout. In my car, for example, the HVAC controls are annoyingly integrated with the factory radio. That means if I want to have a better sound system, my choices are limited.
The sad truth is that my story isn’t a rare one. Search online, and you’ll find thousands of people asking the same question: how can I upgrade my stereo? Some folks have even reverse engineered their factory setup to learn how to wire a custom solution from scratch.
As you can imagine, that’s not a task for the faint-hearted! And it’s not one that the majority of vehicle owners will know how to do. If you manufactured custom dash kits, you would be offering a “plug and play” solution for them.
Take Metra, for example. They are an automotive brand that make custom dash kits and are doing very well because of it. The only trouble is they don’t offer a vast range. And that’s one of the reasons why you could profit from this niche market!
How to manufacture and sell custom dash kits
Now that you know there’s a market for such products, how do you make them and sell them to consumers? Well, as you can appreciate, there are various processes involved.
First, you need to design some prototypes for various vehicle models. That way, you can make sure your products are a perfect fit for your customers. Once your “mockups” passes all your tests, it’s time to get it put into production.
You’ll need to have a factory that can produce plastic products, as that’s what your dash kits will use. Assuming you’ve researched and obtained the machines you need, the next stage is to make a “template” of your mockups. You can then use injection molding technology to make clones of your templates.
The good news is that there are plenty of injection molding seminars you can attend to learn more about the process in greater detail.
Now that your products are ready for sale, it’s time to package them up and start selling them! Bear in mind that you don’t want to price your dash kits so high that most of your customers won’t want to pay for them.
I hope you’ve enjoyed reading today’s article. Good luck!