So, you’ve figure out that you’re great at building your own custom motorcycles, and you wish to start up your own company that will deal with that. However, you can’t just start a company; you need to follow certain steps that will make sure that your company would do great later. So, in order to set up your own company, you will need to do the following things first.
Firstly, you will need to create a business plan. No company could be created without a detailed business plan, and custom motorcycle making business is no different. This play should include your company’s goals and how you plan to meet these goals. Also, this plan should include how you plan to finance your business and how much money you plan to invest in it, and where do you plan to get that money. If you wish to go to a bank and try to get a loan, try will never give it to you without a detailed business plan, so this step is a must!
The next step you need to take is not that tiring, but is an important one. You will need to come up with a name for your company, and that name needs to be catchy and distinctive. Try to avoid all the overused stuff, and come up with something new. Also, your family’s last name is a good name for a company, because it offers people a sense of tradition; plus it could be inherited by your son later, which is always nice.
Then, you should start seeking a location for your future company. Try to find something that is big enough to be able to work on assembling and disassembling your bikes. Also, it should be visible, but is should not be located directly in the populated area due to the noise that is going to come out of that bike shop. The best place to set up your business is near a busy road, where all the bikers could see your company.
Insurance is the next step. A lot of things in your inventory will be pretty expensive, and there’s no telling what could happen to them. Also, a break-in could occur, and is such instances, being insured is the best way you could protect yourself from losing any more money.
And while we’re on the subject of money, you will need to learn how the taxing system works, and in fact, if you plan to work by the law, you will need to read up on the law too. You need to know what it is you can do, and what it is you can’t do when it comes to business and how to run it.
Then, after that, you can start working. Start linking yourself with familiar and trustworthy suppliers and start hiring people to work for you. And if you’ve completed all the above mentioned steps, there is no reason for your company not to do great in this business of manufacturing custom built motorcycles.