Southeast Racing Parts (SRP) is a small, North Carolina-based automobile racing parts brick and mortar and mail order 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 has an exciting opportunity to participate in a growing market. In the USA, motorsports have seen a rapid growth over the past decade. It is now the fastest-growing sport in the USA. The market is worth approximately $1.5 billion annually. Recent research shows that 385,000 people have participated in organized motorsport events. This includes more people who “souped” up their cars but still haven’t compete in organized events. Motorsports coverage on TV has increased significantly, helping to drive growth. SRP has chosen the Carolinas as their preferred location due to its record population growth. It has increased 25% in the last 10 years.
Organization
Southeast Racing Parts was founded on the belief that satisfied customers are essential to the financial health and success of an organization. SRP will do everything possible to make sure that every customer’s expectations are met in all transactions. Southeast Racing Parts is committed to being a part of the local racing scene, through sponsorship and participation.
Products and Services Delivery
SRP will operate both as a brick and mortar business serving the local community, as well as offering a catalog with mail order service. The four-color edition will be the standard. All subsequent editions of the catalog will have to be analyzed in order to determine whether it is cost effective. SRP offers engine and chassis replacements for a wide range cars. Safety equipment and set-up equipment will also be available. In addition to the most popular brands, there will be a wide variety of generic labels parts. SRP will provide services such as coil rating and scaling for race cars.
Financials
Southeast Racing Parts expects to be profitable beginning in month 1. Margins are forecasted to be respectable. Year one sales will be remarkable with a steady increase rate for the first 5 years.
Southeast Racing Parts is a promising opportunity. This company combines a customer-centric business model with thriving industry. Motorsports is becoming increasingly popular in the United States with more and more people becoming active participants. 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 reach our final goal, we will increase our initial gross profit margin by at least 1 percent per year.
- To sell a substantial amount of product the first year.
- To maintain a solid rate of growth per year for the first 5 years.
1.2 Mission
Southeast Racing Parts’ mission is to provide high quality products with competitive prices. We aim to create a strong partnership with our customers and employees as well as our suppliers, that respects each other’s goals and interests.
We will always strive to supply the consumer’s needs. Therefore, we will continuously review the market and make improvements to what is currently available.
Our customers will define success as their trust in us and their ability to deliver on their price, service and selection expectations.
1.3 Keys to Success
We must be able to succeed in this industry.
- Participate in racing events, such as at local races tracks, regional and national tradeshows, or attend functions.
- Our products must be delivered promptly
- Our customers are treated as individuals, and not the ‘#8220What’s your customer#8221 mentality of large mailorder companies.
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