At the 2012 SEMA Show Awards Banquet, Michael Chapin and Eric Coomer sat down for dinner at the YEN member table. Focused on their respective ventures, the two like-minded gasoline junkies stayed in contact for another year and found several more overlapping likes and interests. Fast forward to 2014, when an opportunity arose to collaborate in a new business launch—RxSpeed.com—a search engine for aftermarket parts.
What kind of SEMA resources have you found to be valuable?
Chapin: Besides the obvious fact that we met while networking with YEN, Eric and I use SEMA’s market reports and resources to convey to the outside world the scale and dynamic of this marketplace. For most non-car people, it’s an industry that hides in plain sight. Few expect to hear that 24 million Americans spend $33 billion annually. The market segmentation reports draw clear lines in the sand to help people understand who buys parts for necessity and who buys them for fun.
Coomer: The background and education SEMA provides on the industry’s data revolution, and more specifically the SEMA Data Co-op, have by far been the most helpful in educating myself and others about the need for standardized product data. It wasn’t very long ago that every small business was told they needed a website in order to survive, and now in 2014, getting your products seen and sold online carries that same message. Clear business communication doesn’t end with conversation, but continues with every file and piece of data you exchange.