Setting up a sportscar dealership
Discussion
gingerpaul said:
I think the key to making it as success would be having something that made your dealership different to everyone elses. Other than that, I bet the killer would be insurance premiums. I bet it would be great fun though, being surrounded by exotic metal all day!
Or exotic fibreglass
IIRC companies such as Capital Bank will invest money in the form of stocking loans etc. This allows you to stock some expensive kit, without having a massive chunk of your cashflow tied up! I doubt they'd lend you money to totally start the company though, probably best off approaching a bank for a start up loan or something like that.
Regarding sourcing vehicles, it's mainly word of mouth and building up a big network of contacts! We get traders offering us bits and pieces all the time, though we also now get retail customers asking us to sell their cars for them. This all comes with reputation etc.
Location is also pretty important for a prestige dealership, you don't want to be selling Ferraris and Porsches from a lock up in moss side for example!
Regarding sourcing vehicles, it's mainly word of mouth and building up a big network of contacts! We get traders offering us bits and pieces all the time, though we also now get retail customers asking us to sell their cars for them. This all comes with reputation etc.
Location is also pretty important for a prestige dealership, you don't want to be selling Ferraris and Porsches from a lock up in moss side for example!
I've spoken to a few people in the trade and most say DON'T.
It sounds very good when you chat about it over a pint but look more deeply and it can be a nightmare.
Just buying the stock, finding premises, insurance, tax issues, dealing with customers, cash flow problems, non payers, etc.
When do you go out and buy stock and when do you stay at the lot and sell cars?
But don't let me put you off
It sounds very good when you chat about it over a pint but look more deeply and it can be a nightmare.
Just buying the stock, finding premises, insurance, tax issues, dealing with customers, cash flow problems, non payers, etc.
When do you go out and buy stock and when do you stay at the lot and sell cars?
But don't let me put you off
greatgranny said:
I've spoken to a few people in the trade and most say DON'T.
It sounds very good when you chat about it over a pint but look more deeply and it can be a nightmare.
Just buying the stock, finding premises, insurance, tax issues, dealing with customers, cash flow problems, non payers, etc.
When do you go out and buy stock and when do you stay at the lot and sell cars?
But don't let me put you off
Hence the reason for this tread really, just weighing everything up
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