Business Plan for an International Motorsport Parts Company

Abstract

This thesis aims to find out what are the key features of a successful business plan, and how these features can be effectively adapted to the unique context of Company X? Company X is a specialized manufacturer and retailer of aftermarket performance parts, strategically catering to the discerning automotive tuning enthusiast community, with a specific focus on drift cars and 90s Japanese sports cars. The study highlights the importance of understanding and addressing the specific needs of this niche market to ensure sustained success. By exploring the significance of engaging with potential customers through social media, particularly Facebook groups, the research underscores the importance of adapting marketing strategies to align with where the target audience already discusses its interests and seeks advice. Additionally, it emphasizes the need for flexibility to embrace emerging marketing channels within the dynamic landscape of social media. The comprehensive risk assessment details the multifaceted challenges present in the automotive tuning industry, including operational, economic, competitive, and physical risks, emphasizing the importance of an adaptable risk mitigation strategy that evolves in sync with the business.