The auto parts industry is undoubtedly one of the largest and most profitable niches. It’s an industry that keeps hundreds of thousands of people in jobs. And it’s caused a variety of brands to grow and prosper – even during times of economic uncertainty.
Did you know that car part refurbishing is a startup idea that isn’t spoken of much yet is arguably one of the most lucrative ones? If making things as good as new is your thing, and you’re an auto enthusiast, here’s why this could be the best startup choice for you.
1. Refurbished Parts Are Cheaper Than New
Perhaps the biggest reason for the growth in car parts refurbishing businesses is due to their popularity. Many consumers would prefer to spend as little as possible on good quality parts for their cars.
Refurbished parts are cheaper than new ones. But, a remanufactured part is comparable in quality, if not better, than new examples. Especially when refurbished parts resolve issues experienced from typical manufacturing defects in new parts.
2. Materials for Refurbishing Parts Are Affordable
You don’t need to run an industrial-scale venture to take advantage of inexpensive auto parts refurbishing materials. For example, companies like BLP Mobile Paints can provide you with as much or as little paint as you need.
That gives you the advantage of ordering small quantities of materials whenever you wish to experiment with new refurbishing techniques.
3. You Can Directly Supply Auto Repair Shops
When you refurbish car parts, one of your most significant revenue sources are auto repair shops. That’s because they’ll want to use affordable parts that offer them more substantial profit potential, and their customers will want to save money on their repair bills.
With that in mind, you may find that your primary customer base is auto repair shops like Honest-1 Auto Care, and so you won’t need to focus on targeting retail consumers!
4. Refurbishing Hard to Find Parts Is Lucrative
Car parts have a limited lifespan in the automotive supply chain. Once a company stops manufacturing new parts, replacements will be hard to find from suppliers. If you have the skills and tools to refurbish those parts, you’ll generate consistent revenue from their sales.
You may even choose to specialize in the refurbishment of hard to find parts for classic cars or those made in overseas nations.
5. You Encourage Reuse and Recycling
More vehicle owners are becoming increasingly conscious of their impact on the environment. Many people would rather keep their cars maintained using refurbished parts instead of new ones to lower their carbon footprint.
For example, some car owners would much rather have their existing suspension arms powder coated and fitted with new bushings instead of buying new ones from an auto parts store.
Refurbishing car parts might be an unusual startup business idea. It gives entrepreneurs an enormous sense of satisfaction, and it’s also an idea that will offer great revenue potential. If you’ve got the skills and interest in such a venture, it’s worth serious consideration!