Specialist car traders - How do they start?
Discussion
As above really, I have been looking over past threads about someones desire to open something Porsche related, the pitfalls and what had been done in the past ect was brought up. And I know a gentleman on here has a 911 website that seems very successful..
The question I ask is, how do these specialist garages that do maybe Ferrari only or something like Romans for instance that do all kinds of exotic cars start?
I know this is not something I could be doing in the short term, but it still interests me and for future plans ect, it would be nice if anyone knew how these seemingly designer/dappa car outlets get themselves off the ground?
Cheers
The question I ask is, how do these specialist garages that do maybe Ferrari only or something like Romans for instance that do all kinds of exotic cars start?
I know this is not something I could be doing in the short term, but it still interests me and for future plans ect, it would be nice if anyone knew how these seemingly designer/dappa car outlets get themselves off the ground?
Cheers
I would also imagine you would need to be seriously well networked and connected across several countries in order to locate, or be informed of, the very best cars for sale. Likewise, using those connections should allow you to find homes for said vehicles.
I'd like to do it too on a brokerage level at first but you need the above. Which I haven't. So I can't!
I'd like to do it too on a brokerage level at first but you need the above. Which I haven't. So I can't!
Start with whatever you've got and see how you get on. Play to your strengths. The nice thing about trading cars is that you will know within 2 months whether it is for you or not, you buy 5 cars, you sell 5 cars, either your mortgage is paid and you've had a great time or you have lost your arse. Wonderfully unambiguous.
I deal in classic cars and there are new people setting up every month and the same amount calling it a day. Risks and rewards much higher than moderns but no Glass's Guide so do your homework!
I say give it a go, you only live once.
I deal in classic cars and there are new people setting up every month and the same amount calling it a day. Risks and rewards much higher than moderns but no Glass's Guide so do your homework!
I say give it a go, you only live once.
justin-banks said:
Start with whatever you've got and see how you get on. Play to your strengths. The nice thing about trading cars is that you will know within 2 months whether it is for you or not, you buy 5 cars, you sell 5 cars, either your mortgage is paid and you've had a great time or you have lost your arse. Wonderfully unambiguous.
I deal in classic cars and there are new people setting up every month and the same amount calling it a day. Risks and rewards much higher than moderns but no Glass's Guide so do your homework!
I say give it a go, you only live once.
Well we work with people that seemingly come in and underwrite cars we may have, random p/x mostly BMW. Would said people do this job without having a garage?I deal in classic cars and there are new people setting up every month and the same amount calling it a day. Risks and rewards much higher than moderns but no Glass's Guide so do your homework!
I say give it a go, you only live once.
You mention buy 5 cars and sell 5 cars, what do you need to register as to do this? And in terms of cars, where did you go first time round? Auctions?
Just interested to know what these guys that come into our garage do, as one drives a 911 turbo and the others don't seem to do bad..
I have in the past known traders (on a business basis) in high-end dealerships and sales.
From a business basis, there is not much more to be made selling second hand Ferraris as there is from second hand Fiestas. Although margins in nicer cars may be more, you’ll sell less of them, stock value is higher so risk is greater (as is the need for huge start up capital).
If you are going to specialise, then you need anorak levels of knowledge of the marque you sell.
From a business basis, there is not much more to be made selling second hand Ferraris as there is from second hand Fiestas. Although margins in nicer cars may be more, you’ll sell less of them, stock value is higher so risk is greater (as is the need for huge start up capital).
If you are going to specialise, then you need anorak levels of knowledge of the marque you sell.
many dealers also use funding to stock their cars. That was certinaly the case when I worked for TVR about 10 years ago, we had funding with ombard and chartered trust which helped to pay for about 15 stock cars at any one time. the security being ther stock.
You can only get to this stage after trading for a few years though ( i imagine)
You can only get to this stage after trading for a few years though ( i imagine)
okgo said:
bromers2 said:
Surely SOR is besy way of doing it ?
A decent showroom is a must and therefore expensive.
Start small - on Boxsters or similar and work.
Specialise in one brand/model - get a good reputation.
SOR?A decent showroom is a must and therefore expensive.
Start small - on Boxsters or similar and work.
Specialise in one brand/model - get a good reputation.
What does this mean Bromers?
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