1 Step: Decide which market place to list a new niche car part
There are many marketplaces, both online and offline. Since the cost of an offline store is quite high, starting a business with an online marketplace is a good option.
For online marketplaces, there are many choices, such as eBay, Amazon, Walmart, and even your own online web store (which can be built using platforms like Shopify, WordPress, Wix, etc.).
For car parts, eBay is a good marketplace to list because it has more than 47 country sites and is a popular place to sell car parts based on market analysis.
2 Step: Check the hot selling car parts in the market
There are many ways to get the data that which car parts categories are hot selling. It can be studied directly from the market place wed site like eBay and Amazon.
However, the better way is to review the data from analysis tools, such as **Terapeak, ShelfTrend, ZIK Analytics and etc…
The eBay analysis tools will support to identify the best selling car parts in each category with details like selling QTY per month, average selling price, competition… all these data are valuable to develop high profit and low competition new niche car parts.
3 Step: Identify and develop the new car parts you would like to promote
If find a new car parts that already listed in the market, the next step would be to add, delete, multiply or divide the current product and develop a differential part for your store.
For example, the wiper motor, is it possible to add the linkage with the wiper motor as a new listed product (add)?
If find a new car parts that not listed in the market yet. What will be the possible ways?
- By checking the demand for high ownership of the cars like Ford transit.
- By searching a hot car parts selling in other marketplaces which are not listed in eBay yet.
- By By searching niche car parts from other B to B or B to C web sites, such as alibaba.com, 1688.com, Aliexpress.com, Taobao.com, etc…
- By collecting the demand from customers (car dealer shops, retails shops).
- By collecting data from car parts forums, industries news, suppliers, manufactures.
4 Step: Find the supplier of this develop car parts
Where to find a car part supplier? There are many ways and places, such as
- B2B websites, Alibaba.com, DHgate.com, made-in-china.com, 1688.com
- Google search engine, the supplier’s web sites.
- Exhibition, like Automechanika, Canton Fair, etc.
- The Industry associations and the tools of Company registration information.
- Personal connections, friends, etc.
5 Step: Get the reasonable price and good terms
It is usually difficult for the online sellers to get the most competitive price of car parts, especially for start ups.The reason is that usually, the order of car parts is in low quantity and many of part numbers.
In this case, a long term partner such as trading companies could be a good option with the following considerations. This kind of supplier, could provide the service to get better price by consolidation of the orders, better payment and incoterms, lower MOQ and customized packaging and labels.
Once the business is growing, it is no late whenever to switch the orders with larger QTY directly to the manufacture if the terms are competitive than trading companies. However, it will need more manpower to manage these manufactures since there are many different categories and usually each manufactures will supply only one categories of car parts.
6 Step: Review the new car part details for the preparation of listing
To list a new products on eBay, the details below will be needed,
- Dimensions in package
- MOQ, SPQ
- Tax and duty
7 Step: List the product on the online store and repeat the previous 6 steps to develop new products
Once the product is listed on the online store, it is essential to monitor its performance and gather feedback from customers. This feedback will provide valuable insights into the market demand and help you identify any necessary improvements or modifications to the product.
After listing the product on the online store, it is time to repeat the previous six steps of the process to develop new products. This iterative approach allows you to continuously improve and expand your product line, catering to the evolving needs and demands of the market.
By following these seven steps diligently, you can effectively develop and list niche car parts on online marketplaces, ensuring a successful and profitable venture in the car parts business.