Alright i guess i got a couple ideas here. personally i dont go to a lot of performance shop really, but when i was younger i used to go hang out at the local skate shop often, and i think some of the same ideas apply here. you're basically gonna run a glorified hobby shop, soo, i dont know if i am going off on a tangent, but think about what makes a hobby shop different from say Micheal's (some of you might not know, but its a huge craft store), or what makes a skate shop different from Big 5 or Sports Authority. it's all about atmosphere. yea the big stores can offer a lower price, but a lot of people prefer the smaller shops because they offer a more comfortable atmosphere.
when i was younger we had a skateshop in my town ,Mainland Skate and Surf. it was a normal place, decks, wheels, clothes, shoes, shit like that. it was a good place but the guys kind of gave you the feeling that if you werent gonna buy something, then they kinda dont want you around. eventually they closed that shop. so time went by that we didnt have a skate shop in town. A few years late a new skateshop opened up in town. The first time i went in i noticed that this place was ten times better than Mainland. It was a smaller shop, with less product, but the place seemed like a hang out spot. they had a couch, with a TV that was constantly playing new skate vids, and i htink that kind of surprised everyone. the people working were cool,a dn didnt mind if you you came just to look or hang around. A thing i noticed also was they got involved in the community. They "sponsored" some of the local guys who were good on a skateboard,a nd even a couple guys who rode bikes, and worked to give people who rode bikes and skated a better image. So basically this place is still there and is doing really good still, adn i figure will be there for a long time.
If you didnt get a few ideas from that, then this is what i am suggesting.
--Get a nice lounge area setup in there, maybe even drop the cash on soem different racing seats to sit in. that is one of the common things i hear people complain about here on this board, that they wanna see the difference in the quality of the seats. its hard to find a place to try em out yourself.
--Dont make you image that of a shop where a person needs to come in and buy some expensive parts to get soem respect from you. people will be hesitant to come in if they think that they will look stupid by buying some cheap parts. when those guys who hang around and never buy anything actually have the cash, they will probably think of you to go buy stuff
--B16CRX had some good points too. Get your name out there. put out flyers and throw a good grand opening event. maybe soem free hotdogs and stuff. just offer something back to the people who are willing to come check out your place. I am sure paying for soem hotdogs is a lot cheaper than giving 40% off of stuff for the first week to get people in the door. maybe if you make it throught the first year, plan to make it a BBQ/ small car show every year
--maybe think about "sponsoring" soem guys to sport your stickers. It doesnt have to be anything big, maybe a discount off of your products with the amount depending of how big the decal is. you know, 5 % for a small decal, maybe 10% for a bigger window decal. go as a groupl to local car shows and stuff.
--As far as your main question of what products to carry, i agree with the other guys. Rice sells, as much as we hate it, its true. its not a bad thing to carry it, but dont base the inventory strictly around the rice. show that you guys do know real performance by getting soem nice parts. i think the ricer guys are gonna be more impatient about waiting for you to order parts, but guys who come there for good shit will probably be a little more understanding.
--try to price match and be as competitive as you can. yea its common sense, but soemplaces dont price match. and maybe if you cant beat another places price, try to throw in some incentives for the guys to come there. if you lose a little money on the first sale, they might return and bring you a lot more cash in the end
sorry if that shit is too long, but i kinda just lost track of how much i typed, oh well. hope i didnt just tell you a bunch of stuff you already thought of.