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Minding Your Own Business
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Used Cars/Quick Lube/Car Wash?Views: 1276
Jul 14, 2008 11:41 amUsed Cars/Quick Lube/Car Wash?#

tony harris
I have an idea that I have been holding in my mind for many years now and I'd like to hear opinions from anyone. I'm looking for advice on effective ways to run it, if you think its going to work or fail and other general opinions about it.

I'm 23 years old and I have a degree in Automotive Technology and have been working at a shop part time since I was 15.

Here's my idea:

Primarily a "used car" dealership with a quick lube/repair as well as car wash service

I'll start with roughly around 20 cars or less. I hope to supplement the income from the dealership with the repair facility.

I know that my costs will be rent or mortgage payments, fire and theft insurance, taxes, utilities and salaries if I hire extra manpower.

What do you think?

Private Reply to tony harris

Jul 14, 2008 12:13 pmre: Used Cars/Quick Lube/Car Wash?#

Fred Keller
Go for it, Tony......after you are satisfied with your written business plan.
Make sure there is demand for your services wherein you are assured of profitability at a level that you can live with.

Good Fortune to You!
Fred

PS: Turn your knowledge into cash: http://myks.first411.com

Private Reply to Fred Keller

Jul 14, 2008 12:30 pmre: re: Used Cars/Quick Lube/Car Wash?#

anthony davis
Sell extended warranties on the cars. You can contract with a warranty provider and collect a commission on the warranty agreements you sell.

I spoke recently with an owner of a small car lot, probably around same size you have. He buys directly from new car dealers - trade ins which are too old for the new car dealer to put on his lot.

These cars usually go to auction but by partnering with the new car dealers the used car business owner avoided the pressure and competition of the auction. They also saved the new car dealer the auction fees and the uncertain outcome of sending the vehicles to auction.

I think you're on the right track in starting your business, by joining to forums like this and joining to business networking sites like http://www.schmoozii.com or linked in, you'll gain instant access to lots of business infos..

Private Reply to anthony davis

Jul 14, 2008 9:06 pmre: Used Cars/Quick Lube/Car Wash?#

steve solem
Hey Tony,

While I think an idea like this could certainly work, don't overlook the fact that running a business itself can be a full time job and you'll need to hire people to do the things you're unable to do yourself.

Many people start businesses because they're good at what they do and they enjoy doing it, only to find out that making a business out of what they love takes the enjoyment out of it.

Why not start out small and open a garage first, then once you've got the hang of running that you can branch out and add the car lot - or the car wash service?

I'd strongly suggest reading Michael Gerber's "E-Myth Revisited" before you get started, and meet with someone from www.score.org in your area to discuss your plans and get some solid advice. Around here they often have local seminars about starting and running a business and they're free or cheap if I remember right.

Good luck!

Steve Solem
www.ravedesigns.com

Private Reply to steve solem

Jul 15, 2008 2:22 pmre: re: Used Cars/Quick Lube/Car Wash?#

tony harris
Those are some interesting points I havent thought of, thanks alot for sharing, I really appreciate it. Been around to a lot of forum sites about my business idea and so far ryze and http://www.schmoozii.com have been giving pretty good answers and advices

Private Reply to tony harris

Jul 15, 2008 3:51 pmre: re: re: Used Cars/Quick Lube/Car Wash?#

steve solem
Tony,

I forgot to mention - if you're considering selling cars, spend the $12 to buy Joe Girards book "How to Sell Anything to Anybody" and study the heck out of it. He's in the Guinness book of Records as "worlds greatest salesman" for having sold over 13,000 cars in his 15 year career back in the 70s and if anyone knows how to sell cars, it's Joe!

Cheers,

Steve

Private Reply to steve solem

Jul 16, 2008 11:35 amre: Used Cars/Quick Lube/Car Wash?#

thomas richardson
if you are a great mechanic then i think you have a real shot of getting this off the ground. i know if i trusted my mechanic, then i would trust the car i'm buying from him to be well worth it.

Private Reply to thomas richardson

Aug 09, 2008 9:57 pmre: Used Cars/Quick Lube/Car Wash?#

Kurt Schweitzer
Tony,

Check with your state's DMV about the regulations surrounding a used car dealership and a motor vehicle repair shop. I own/operate a motor vehicle dealership and repair facility here in NY, and there are LOTS of hoops that I have to jump through on a regular basis.

Also check with your state's environmental protection agency about the regulations for a car wash. It's my understanding that there are regulations about recycling the wash water and discharging the cleaners into the environment.

Your local government will probably also have laws (or at least zoning ordinances) covering these types of businesses.

Finally, look into establishing financing so that you can purchase the 20 vehicles you intend to place on your lot. My guess is that they represent around $100,000 (or more!) just sitting there. There are companies that specialize in financing vehicle inventories for dealerships.

Good luck!

Kurt Schweitzer
Urban Village Scooters

Private Reply to Kurt Schweitzer

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