New Business Idea - Car Sales Agency
Discussion
Hello All,
I'm currently doing some research on a new business idea that I have been thinking of setting up for a few years now...
In a nutshell I would act as an agent selling peoples cars for them - similar to an estate agent selling houses.
I would only be interested in selling cars that have a minimum value of £8k, and would try to specialise in higher value cars.
I know that there are a handful of others who offer a similar service, and some garages/showrooms offer to sell peoples cars for them on a sale or return basis... But my service would be slightly different.
This is how I see it working:
> A potential client calls me, interested in me selling their car on their behalf.
> I arrange to visit them to take a look at the car and paperwork.
> I go away and research the cars true value.
> I call the client and give them a minimum and maximum amount that I think the car would sell for.
> The client instructs me to sell the car... At this stage the client can either keep the car at their address, or I move it to my premises.
> I then prepare the car for sale (valet etc..) advertise the car for sale, deal with all enquiries and viewings.
> Once the car is sold I deal with all paperwork and take payment for the car by secure bank transfer.
The fee for the service would be 5% of the cars sale price, but with a minimum fee of £950.
The above is just a brief overview of how I see it working... Obviously there are lots of if's, but's, how's and when's etc..
Do you think this idea is viable?
As I say - I know of others who offer similar, but I think there is a gap for this type of service within the area that I live.
Thanks for reading
I'm currently doing some research on a new business idea that I have been thinking of setting up for a few years now...
In a nutshell I would act as an agent selling peoples cars for them - similar to an estate agent selling houses.
I would only be interested in selling cars that have a minimum value of £8k, and would try to specialise in higher value cars.
I know that there are a handful of others who offer a similar service, and some garages/showrooms offer to sell peoples cars for them on a sale or return basis... But my service would be slightly different.
This is how I see it working:
> A potential client calls me, interested in me selling their car on their behalf.
> I arrange to visit them to take a look at the car and paperwork.
> I go away and research the cars true value.
> I call the client and give them a minimum and maximum amount that I think the car would sell for.
> The client instructs me to sell the car... At this stage the client can either keep the car at their address, or I move it to my premises.
> I then prepare the car for sale (valet etc..) advertise the car for sale, deal with all enquiries and viewings.
> Once the car is sold I deal with all paperwork and take payment for the car by secure bank transfer.
The fee for the service would be 5% of the cars sale price, but with a minimum fee of £950.
The above is just a brief overview of how I see it working... Obviously there are lots of if's, but's, how's and when's etc..
Do you think this idea is viable?
As I say - I know of others who offer similar, but I think there is a gap for this type of service within the area that I live.
Thanks for reading
PurpleMoonlight said:
Nope, not really viable.
Far to many trust issues for both seller and buyer to overcome, and how many people would be willing to pay minimum £1000 odd for you to sell their car for them?
Thanks for your reply.Far to many trust issues for both seller and buyer to overcome, and how many people would be willing to pay minimum £1000 odd for you to sell their car for them?
Both the client and myself would sign a legal agreement (like when selling a house).
Also... I know another company who does similar and their minimum charge is 7% of the cars value with a minimum of £1500 - They sell many cars this way.
As I say - I would be targeting the higher end of the market... Busy people with money, who don't have the time to sort out selling their car and would rather pay someone else to do it.
Is the client the seller or would you be the seller?
You as a business would need to deal with issues of fitness that a private seller wouldn't, does the client or yourself provide test drives and insurance etc? Going much beyond 3k cars you would surely need to be the seller to broker finance, 1k min or 7% sounds steep vs selling to WBAC.
You as a business would need to deal with issues of fitness that a private seller wouldn't, does the client or yourself provide test drives and insurance etc? Going much beyond 3k cars you would surely need to be the seller to broker finance, 1k min or 7% sounds steep vs selling to WBAC.
750turbo said:
Yes that's my post to... I thought it would get more replies on the other section... Also I changed my username between posts (new user).Well done Sherlock
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