Thinking about opening a generator dealers business? We tell you what you need to know to get started.
(article continues below)
How to Write a Top Quality Generator Dealers Company Business Plan
A business plan is the skeletal framework for your generator dealers business's mission, goals and strategic vision.
But from an outsider's perspective, your business plan is also a reality check. Third-party stakeholders want to make sure that the most important parts of your plan are based on real world information, including your business plan's market analysis section.
Early in the process, it's worth your time to learn how to write the market analysis section of a business plan. It includes the identification of your target market and in many cases, the inclusion of supporting research to back up your claims and sales forecasts.
Prior to opening a generator dealers business in your area, it's essential to see how many competitors you have. Try our link below to generate a list of competitors near you. After clicking on the link, type in your city, state and zip code to get a list of generator dealers businesses near you.
Is the local market large enough to support another generator dealers business? If not, you had better be sure that you are doing things much better than the competition.
Talk to People Who Are Already in the Business
After you've evaluated your local competitors, it's a smart move to speak with somebody who is already in the business. If you think owners of nearby generator dealers businesses will give you advice, think again. What's in it for them?
Thankfully, an owner of a a generator dealers business in another town will be much more likely to talk with you, as long as they don't view you as a competitive threat. In that case, the business owner may be more than happy to discuss the industry with you. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
What's the process for finding an entrepreneur who is running a generator dealers business in another community?
It's easy. Here's a link you can use to find a mentor outside of your area.
Getting Started in Generator Dealers Business Ownership
As a prospective generator dealers business owner, your entry options are limited to buying a viable business or building one from scratch.
We understand why a startup may sound appealing. A new generator dealers business will definitely be more reflective of your personal business philosophy. But financially, startups present significant challenges because lenders are typically hesitant to fund startup generator dealers businesses.
Acquired generator dealers businesses are known quantities - and are less risky for lenders. Although buying a business doesn't guarantee success, it substantially increases your odds of obtaining financing and achieving profitability.
Explore Franchising Options
The odds of achieving your primary goal of achieving your top business goals are higher when you join the ranks of franchisees in lieu of doing everything yourself.
If your goal is to start a generator dealers business, you should determine whether franchise opportunities in your space might help you avoid common entrepreneurial mistakes.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing generator dealers business, these resources will come in handy:
If you came here to learn about selling to generator dealers businesses, you're in the wrong place. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.