7. FitMyCar
Along with rapid international expansion, aftermarket car part retailer FitMyCar has seen success by following one simple rule: no car jargon.
Revenue: $5.5 million
Growth: 337.26%
Founder: James Tinsley (33)
Head office: Ravenall, Victoria
Employees: 17
Industry: Retail and consumer products
Website: fitmycar.com
James Tinsley, founder of online aftermarket car part retailer FitMyCar, has built a multi-million-dollar international business in less than three years.
Coming in at seven on the 2018 Smart50 list, FitMyCar has increased its revenue by 337% since 2015 to over $5.5 million.
Riding the e-commerce wave at a time when automotive manufacturing is in decline in western markets, the Victorian-based retailer operates in Australia, New Zealand and the United States.
There’s plenty to be said about the growing popularity of online shopping, but for Tinsley, who focuses on providing personalised car parts to customers, getting the model right has been imperative.
“Opting for a made-to-order, pureplay, e-commerce business model allows us to provide exact-fit accessories for every vehicle on the road at an affordable price point and with an almost infinite combination of colour and material personalisations,” Tinsley says.
FitMyCar has developed its own custom-built platform that integrates its e-commerce website with its manufacturing processes, cutting costs and improving turnaround times in the fast-paced world of digital shopping.
The innovation has, according to Tinsley, saved the business thousands of hours in labour over the last three years, enabling it to offer cheaper prices that help it to stand apart from traditional competitors.
What’s next? Tinsley and his team of 17 have an eye on the future and are already preparing for the impact that innovation in the broader industry may have on their business.
“New technology will arrive at some point and we need to be prepared for it,” he says.
“What accessories will you need in a driverless car? Will accessories wear differently if your car is autonomous? What impact will this technology have on demand for certain types of accessories?
“These are the types of questions we’re looking at.”
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