The increase in urban population and demands of modern life are factors that contribute to refrigeration market growth. Along with the new consumption behavior, we also notice an expansion in the commercial refrigeration market. The number of establishments like bars, restaurants, bakeries, ice cream parlors, supermarkets, etc is constantly increasing. These places need freezers, beverage displays, counters and other commercial refrigeration equipment. According to a Transparency Market Research study, the global market for commercial refrigeration equipment will grow 60% between 2012 and 2018.<\/p>\n
In reviewing the above data, we noticed that they open up opportunities for a broad service market. It\u2019s possible to work as a contractor and learn how to become a contractor) and with the spare parts market for refrigeration equipment.<\/p>\n
If you already work in the refrigeration field or have affinity with the issues related to refrigeration, opening a store can be a path to be pursued. The store will sell parts for refrigeration equipment, such as, for example, air conditioners, refrigerators, freezers, beverage exhibitors, commercial counters, among others.<\/p>\n
When thinking about having your own business, you should do it with an entrepreneurial spirit, with a great desire to make it happen and to innovate. But it takes more than just willingness. The success<\/strong> factor is related to good planning<\/strong>.<\/p>\n Therefore, it\u2019s necessary to visualize the market opportunities and threats, analyze the competition as well as set goals<\/strong>.<\/p>\n<\/blockquote>\n Lair Francisco Assis Gusm\u00e3 is the owner of Refrig\u00e1s, one of the largest home appliance parts stores in the interior of S\u00e3o Paulo, founded in 1989. The entrepreneur says that market analysis helped him to detect the region\u2019s need to have another company that specializes in trading white good, washing machine and refrigerator parts.<\/p>\n While doing this analysis try to answer the following questions:<\/p>\n These answers will help better understand the local market, foreseeing possible future difficulties, such as fierce price competition, for example. All possibilities of your business not succeeding are threats that must be taken into account.<\/p>\n Besides the difficulties, you will also be able to foresee growth opportunities in the market and customer needs that are not being met. In Lair\u2019s case, for example, this analysis helped him identify the weaknesses of the competition, which helped him understand how to work differently in the market.<\/p>\n At the end of this analysis, you can weigh up the pros and cons. But, before making your final decision about opening your own business, develop a Business Plan. It\u2019ll bring even more clarifying and decisive answers. \u00a0<\/p>\n The next step is one of the most important: developing a business plan. This is a document that describes the objectives of a business and the steps to be followed to achieve these goals, reducing risks and uncertainties. The market insertion strategy is one of the most important and critical tasks of this planning.<\/p>\n The plan will help bring more detailed information about your business such as a description of the products that you\u2019ll be offering, your customers’ profile, future suppliers, competitors\u2019 characteristics, weak and strong points as well as the differentials of your future undertaking.<\/p>\n For Lair of Refrig\u00e1s it was no different. He made a plan, doing research with consumers and an analysis of the competition. \u201cThat was how I detected a deficiency and many gaps in the regional service of this niche market\u201d, he explains. This step was very important for him to know what the market really needed. With his experience, he also advises to calculate the profitability to be obtained, the return on investment, as well as the pay-back period of the amount invested.<\/strong><\/p>\n Understand that preparing a Business Plan is the first challenge of this new journey. It will be a task that requires time, dedication, research and commitment. But the benefits are so many that in the end you\u2019ll see that all the effort was worthwhile.<\/p>\n The Investment will be all the capital required to initiate and continue in business until it can stand on its own. We can separate into:<\/p>\n Fixed investment is expenditures for material goods to open your store. In order to calculate this, estimate the value of:<\/p>\n These are the expenditures incurred before the store opens its doors and starts selling. They may include:<\/p>\n It\u2019s the monetary value needed to support all the company\u2019s costs and expenses during its operation. Working capital will always be necessary, even after your business is a success. These include:<\/p>\n To start-off your business, it\u2019s important that you understand how the sales cycle works in its entirety. We can separate it into five major steps: purchasing, storage, sales, delivery and after-sales.<\/p>\n Purchasing goods must be done very carefully, especially at the beginning of the activities. Get to know the market well in order to know which products have the best cost-benefit.<\/p>\n Avoid buying large quantities of products that don\u2019t have a quick turnover. They will be invested values that will take time to turn a profit, besides taking up space in your inventory. Previous experience as a contractor will facilitate this step!<\/p>\n Where will your inventory be located? How will it be organized? How will the input and output flow be controlled? Answers to these questions will make the process easier and guarantee speed at the time of sale. Have a designated space for the inventory that is well organized and provides convenience to the day-to-day.<\/p>\n This is the business\u2019 main objective. It consists of attending customers and providing the goods they need. Always seek to understand your customer<\/strong><\/a> and train yourself to be an excellent salesperson<\/strong><\/a>.<\/p>\n This step consists of arranging delivery of the purchased product, on time and within the pre-agreed conditions. The delivery method will depend on the quantity and volume of goods purchased.<\/p>\n In this step we seek customer loyalty, in order to maintain the longevity of the business. Several actions can be carried out, such as satisfaction surveys<\/strong><\/a>, maintenance services, special promotions and other forms of services.<\/p>\n After opening the doors, you can face new challenges. Lair says that initially, due to the total lack of resources, he needed to sell the car he had at the time to then be able to invest in inventory for the company. \u201cAfterwards I faced immense competition that had more experience and market knowledge. A little later on, an electrical blackout occurred where several companies of our segment ended up closing due to lack of sales. To this day, I face the daily struggle to survive in a market with strong competition and extreme volatility\u201d, he reveals. Yet even with all these adversities.<\/p>\n Lair excelled as an entrepreneur and his company, which started with two employees, now serves all western S\u00e3o Paulo, with four stores and 74 employees. To get to this point, Lair had to be very careful and attentive in all decisions he made. \u201cIn my company we\u2019re very discerning and, as far as possible, we always try to innovate\u201d, he states.<\/p>\n Therefore, besides having a well structured business plan, on opening your business, develop a good plan to divulge your business. You can invest in traditional media such as printed newspapers, radio, pamphlets. In this regard, investing in Digital Marketing can be a differentiator for your business! Check out our tips on the subject<\/strong><\/a>.<\/p>\n\n
\n
Developing a Business Plan<\/h4>\n
Investment<\/h4>\n
Fixed Investment<\/h5>\n
\n
Pre-operational investments:<\/h5>\n
\n
Working Capital<\/h5>\n
\n
Sales cycle: preparing to open the doors<\/h4>\n
1 \u2013 Purchasing<\/h5>\n
2 \u2013 Storage<\/h5>\n
3 \u2013 Sales<\/h5>\n
4 \u2013 Delivering Merchandise<\/h5>\n
5 \u2013 After-sales<\/h5>\n
After opening the doors<\/h4>\n