Is the car audio market a growing market? I'm thinking of opening a small car audio shop so I can employ my kids. My goal is not to get rich but to establish a business able to sustain my kids and give some good life experience in business. Any pointers would be helpful.

Where does one make his profit in this business?
car audio retail?
installations?
car alarms?
car accessories?

thanks everyone.
craig.

[ February 13, 2004, 12:06 PM: Message edited by: Dr. Guayo ]

Profit comes from experience and finding what the customer needs and not wants. Anyone can sell a product and make money on it, but to compete against the big guys you must make yourself totally different than the big guys, yet able to do their job. This is a fun industry that changes all the time, it has much to offer in the form of business and knowledge. I started my main store 8 years ago, I would not have made it in our market without being in the industry for the 8 years previous. Any business is a gamble, make sure you have the market for it.

I think it is like a diner, if you own a diner you better like to cook! (It also helps if you have a lot of hungry friends). The customers either know more than you or they are dumber than dirt (usually both at the same time).
This is an obsessive consumer base with some money (usually not enough) but who inherently push the limits of what is doable and what is not. You need some creative flair in your employees.
Few things in life have to meet their maximum ratings as often as car stereo so expect returns. A gracious sales and installation staff will see return customers