Drive Your Own Career: Starting a Dealership

November 23, 2017 6:23 pm

If you’re tired of being in the passenger seat in the world of work then why jump in a completely different car, take the wheel yourself and go in a whole new direction? Why not go in the direction of self-employment and business owning? Specifically, if you are somebody who is passionate about cars, why not go in the direction of owning your very own car dealership? For advice on how to do just that, make sure to read on.

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Make some decisions and draw up some plans

First of all, you have to make that all important decision: will you be selling used cars, or new cars. You need to do this right off of the bat because whatever decision you make — neither of which being a worse decision than the other — will provide your business with tis DNA and its automatically seeking point. For instance, customers that only want new cars will come to you if you deal in new cars, and customers that only want used cars will come to you if you deal in used cars. So, make that decision and make it quickly.

Then, you need to (excuse the pun) put your business plan into gear. This means laying out the blueprint for funding ideas (if you are going to need funding). And this means making plans in regards to what type or brand you are going to be selling.

Take out insurances

Once you decide what cars you are selling, before you get your first car in to sell you’re going to need to take out insurances. More to the point, you’re going to have to take out insurances that you both legally need to take out, and insurances that you should take out in order to cover your business.

An insurance you must take out is Motor Trade Insurance, otherwise known as Road Risk Insurance or even Fleet Insurance. You are asked, or told, by law to do this at Third Party Only level, at the very least, so that you can be seen to be trusted in regards to the motoring industry. What’s more, you and anybody else who may drive the vehicles you sell (on test drives, for instance) must be named on this insurance in order to protect your business against any damage it may cause to other parties.

An insurance that it is not the law to take out but it is recommended that you do so is public liability cover. You should take this cover out because, as a business that opens its doors regularly to the public, the chance will always be there of a member of the public becoming injured on your premises. By having such cover, you would be financially covered if this were to happen.

Become at one with your inner salesman

If you are entering the car dealership trade as a business owner, it stands a chance that you are already experienced in the sales. But, whether you are or not, you’re still going to have to become at one with and tap into your inner salesman at all times. Well, if you don’t sell your cars, then you won’t make any money, will you? If you feel your sales technique could do with a bit of work, why not take a course in the subject?
For more advice on how to start and run your own car dealerships business, make sure to check out this helpful article.

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