There are advantages and disadvantages to opening your own motor parts company and you will have to take them in to consideration before deciding to go ahead with it as a career. As well as the risks there are several things you will need to check before even naming your company. Some of the things you will need to establish before opening your business for trade will be:

• You will have to choose a name for your company don’t actually assign it to your company though before checking the companies’ data base for any other companies of the same name. If there are no companies then you are fine to progress if there are you will either have to change the name slightly so it is actually different or change the name entirely.
• How deeply in debt are you willing to go to start your business? Business loans can fund expansion, help improve your profit income, and improve overall stock in stock out ratios. In short, business debt can be good to an extent. For the smallest business men, however, business debt is often personal debt. Many people start a venture by lending money to their business account or simply defer any payments for their own labour. As many small-business owners will tell you, lenders may make loans to the account of the business, but the business owner will often be required to guarantee the loan personally. So although the debt is on the business' books, it would be the business owner personally that would have to pay the debt if the business failed.

After the initial setting up of the business you would have to think about whether you were going to specialise in certain motor parts or if you were going to be more generalised.

Also you would need to think about how the customers are going to actually buy the products you have are you going to have a large shop with all your parts on display, or are you going to focus on online buying and have a small shop with a large warehouse.

You would have to decide if you were going to sell used, new parts, or both.

You would need to have the following interests and skills:

Car knowledge – You would require a lot of knowledge on cars so you would be able to advise people on the parts they need for their car. You would also need to know which parts are the most likely to be required on a more frequent basis for example fan belts would be in more demand than new engines.

General fitting of parts – If you have a general knowledge of how the different parts are fitted you would be able to offer a great after care service for your customers and maybe even start adding the fitting to your services.

Have knowledge on general costs – This will help not only you know if you are getting a good deal, but also help you decide your retail price for you to make a profit but still being fair.

There are lots of places on line with more information on starting your own motor part company, you could even go in to your local small garage and enquire how they started.