It is an excellent opportunity to open a wholesale golf carts business, but you need to plan out your business carefully before you begin. This article provides nuts-and-bolts information on how to succeed.
Interested in setting up your own golf cart wholesale and manufacturing business? Here's what you need to know.
Sales & Growth Forecast for Golf Carts
It is estimated that 150,000 golf carts are sold every year, representing a combined annual sales of $150 million. Golf cart manufacturers and wholesalers play a crucial role in supplying electric and gas-powered golf cars to the nation's 17,000+ golf courses.
In an industry dominated by E-Z-Go, Yamaha and Club Car, new golf cart wholesalers and manufacturers need to be prepared to compete in a market dominated by a few big names. New entrants to the manufacturing and wholesale marketplace will need to devise business strategies to take advantage of the gaps in custom cart manufacturing and other specialty areas to capture market share.
The golf industry is currently in a state of transition, so new golf cart manufacturers and wholesalers need to be aware of that. Many courses are seeing declining numbers of golfers and rounds played on their courses. The U.S. golf cart industry has not yet been determined to rebound after the recession, but golf cart manufacturers/wholesalers need to be particularly aware of the challenges and realities of their customers at the moment.
Capturing market share by expanding golf cart product lines
A startup golf cart manufacturer or wholesaler needs to offer more than one-size-fits-all golf carts in order to survive. They should also expand their customer base in order to become profitable.
Many emerging golf cart manufacturers achieve success through the sale of customized carts to individuals, not golf clubs and courses. In addition to the features for on-road and off-road use of custom carts, design features such as paint and decals can also be tailored.
A Non-Traditional Golf Cart Customer. There are many ways in which consumers use golf carts these days. In many retirement communities and gated communities, golf carts are the primary mode of transportation. As for hunters and nature enthusiasts, they use modified carts to get around in the field. Your startup needs to expand to meet the needs of non-golfing customers as well.
It is important for startups to take advantage of current trends to differentiate their businesses from the competition. Environmental pressures and other factors affect golf cart design and manufacturing. Stay informed about industry developments by joining the National Golf Car Manufacturers Association and other organizations.
Golf Cart Wholesale & Manufacturer Business Plan Mechanics
Write a business plan for your golf cart wholesale and manufacturing business if you haven't already.
Gaebler advises new business owners to keep their business plans simple. In the end, your plan is meant to serve as a resource for you.
Instead of spending countless hours on a lengthy business plan, put pen to paper now and document the essentials with the understanding that your plan will be revised as you proceed.
Analyze your competitors
We've provided the link below to help you find local competitors near you. Before opening a golf cart wholesale and manufacturers business within your community, it's a good idea to find out how strong the competition is. Enter your zip code, state, and city to find golf carts wholesale and manufacturers near you.
What are the established competitors doing well? Think about how you can compete with them and understand their strengths and weaknesses.
Identify what others have already learned and take advantage of it
If you want to succeed in this business, you need to learn from someone who has been there before. Local rivals won't even give you a chance.
If you are not directly competing with the person who owns a golf cart wholesale and manufacturing business outside of your community, he or she may be willing to share their entrepreneurial wisdom with you. It is quite common for business owners to be willing to share their wisdom with new entrepreneurs. It may take you ten calls to find one who is willing to help.
The Benefits of Buying a Golf Cart Wholesale & Manufacturers Business Over Starting One
No one can deny that entrepreneurs are driven to start their companies from the ground up.
A healthier and safer strategy may be to purchase an existing wholesale or manufacturing business for golf carts.
Buying an existing company provides you with a functional (and probably profitable) company from the start. Without having to do any trial-and-error mistakes, you'll be saving time and money. Get more info about top 10 golf cart manufacturers.
Consider franchising as an option
Starting a business through franchising will make it easier, but it does not guarantee success.
It would be wise to check out franchising if you are considering opening a golf cart manufacturers and wholesale business.
Click on the link below to see if we have a franchise opportunity for you. You might even find something that points you in a completely different direction.
