How to Be a Golf Cart Wholesaler

Successful business owners recognize the importance of good advice.

Starting a business venture as a golf cart wholesaler begins with doing industry homework. Fortunately, there are many valuable and free resources available for entrepreneurs to use, as they prepare a business plan. By analyzing successful competitors and how they operate, a new entrepreneur can gain valuable industry insights into the marketplace. Examining why previous businesses went under is also helpful, for the purpose of identifying bad business practices.

Instructions

1. Select a business name and establish the legal business identity. Consult with an attorney to decide on the best business structure for your specific situation. File the papers required to legally operate a business.

2. Set up a business bank account. Select a bank with low fees, known for catering to new businesses. All company expenses should be paid out of the business account, so they can be tracked and deducted for tax purposes.

3. Prepare a business plan. Do market research to make important decisions about strategies, business operations, and financing. Get advice from consultants, when appropriate.

4. Set up a working office. Start small, with flexible lease terms that will allow you to adjust, if necessary to accommodate future growth, or changing circumstances. Purchase a phone system, business cards and stationery, to prepare for interviewing staff.

5. Identify manufacturers to supply golf carts to your business. Interview and select key manufacturers, offering the most favorable terms. Negotiate pricing, delivery and discounts.

6. Interview key personnel and consultants necessary for operating the business. Hire employees with industry experience. Commissioned sales people and temps are a smart solution for a lean, flexible team to begin your business.

7. Prepare marketing materials necessary to start your business and establish a web presence.

8. Train the personnel. Create and review policies and procedures with all employees. Use role-playing exercises to prepare for the first business customers.

Tips & Warnings

• When hiring key personnel, it is prudent to run a background check. References should also be checked to ensure that key suppliers are reliable and deliver orders on time.

References

• "IRS.gov"; Business Structures; December 2010