Southeast Racing Parts (SRP), is a North Carolina-based, brick and mortar automobile racing parts brick & mortar and mailorder organization. SRP will continue to be small to give customers unparalleled attention. Southeast Racing Parts becomes the leading destination for novice racing parts and entry-level parts.
The Market
Southeast Racing Parts is excited to be a part of this growing market. Motorsports has experienced explosive growth in America over the last decade. It is the fastest-growing sport in America. The market is worth approximately $1.5 billion annually. Recent data indicates that nearly 385,000 people have participated and competed at organized motorsport events. However, there are many more people who have built their cars but not competed in organized events. Motorsports coverage on TV has increased significantly, helping to drive growth. SRP’s preferred location is the Carolinas, which has seen record population growth of 25% over the past decade.
The Organization
Southeast Racing Parts is founded on the idea that maintaining satisfied customers is essential to the financial health of the organization. SRP will strive to exceed the expectations of all customers in all transactions. Southeast Racing Parts, through sponsorship or participation, will remain active in the racing scene.
Products, Services, and Delivery
SRP will offer a catalog and mail order service. This catalog will be four-color and the cost of subsequent editions will be evaluated to determine if this format is economically feasible. SRP offers engine and chassis replacements for a wide range cars. Safety equipment, as well as set up equipment, will be offered by SRP. You will find all the top brands as well as a variety of generic parts. SRP will provide coil rating services and scale services for race cars.
Financials
Southeast Racing Parts will be profitable from month one. Margins are forecasted to be respectable. Year one sales will be exceptional with a steady growth rate for the first five years.
Southeast Racing Parts presents a great opportunity. It combines customer-focused business with a dynamic industry. Motorsports are growing in popularity in America with more people participating. Even for those who are not true participants, it is now “cool” to have your car “tweaked out” even just for aesthetics. An investment in Southeast Racing Parts is a high growth, reasonable risk opportunity.
1.1 Objectives
- Southeast Racing Parts is the best place to buy entry-level/novice race supplies in the Carolinas.
- To achieve a modest first gross profit margin, increase that by at minimum 1% per calendar year until we reach our final goal.
- To sell a significant product amount in the first one year.
- To maintain a solid growth rate per year for the first five years.
1.2 Mission
Southeast Racing Parts strives to offer racing products that provide value and performance. We wish to establish a successful partnership with our customers, our employees, and our suppliers that respects the interests and goals of each party.
We are committed to providing the best possible service to our customers and will continue to improve on what is already available.
Our customers choosing us to fulfill their expectations in price, selection and service will be our measure of success.
1.3 Keys to Success
To be successful in this business, you must:
- Be an active member of the racing community; i.e., attend functions at local race tracks, attend regional and national trade shows.
- Send your products immediately
- As opposed to large mail order companies’ ‘#8220’ mentality, we work with our customers one-on-one.