Mark101

Gulp! Cheers Simon. I shall let this "new" crap paint thin a little further first then (get some value out of it). Thanks again.

Cheers Simon Save me doing the math (as they say in the states) - costings for 1/2 the size of yours?

Now can you lie and give me some better news

Can I ask a cheeky question? How much? What size is your unit? I have 1600sq ft and the grey floor paint that was already down (fresh but just cheap crap) is already starting to lift (as I knew it would). Trying to work out cost pro rata from what it will cost you.

QuickBooks - In a word NO. I used to use Sage back in the day and manually calculate all my sales margin but it did track my VAT owed to me from receipts entered. Very easy to do but I'm just giving everything to my accountant to sort out. I just try and spend my time, selling, prepping, etc

Once I get my FCA licence, I am going to pinch a little of your video technique. That being, a brief introduction, mention of finance and other payment methods, PX etc and showhorn that in to the beginning of each video. Total 5 mins max. Just wish I was a handsome as you Simon

I was talking about my lunch costing the same as 5+2 @ £5 = £35 Being next door to a cafe doesn't work out well for a fatty like me.

Wow, quick learner - what a breath of fresh air, someone asking what to do, no argument and within 24 hours acts out the advice. Good man. I was also going to mention the boot being centred. Re: you web and phone number, I would keep it in. You're on a PAYG contract and without it there is no direct link to your website (I guess that's why you did it).

That sounds about right on the starter 5+2 package. I went on standard (which weirdly is two packages higher) and reckon more like £3 per car per day. Now I'm on premium and reckon that is a fiver per car per day - almost as much as my lunch per day.

Love it when that happens. To me, whenever I say someone else wants to see the car - I feel they will interpret that as trader bullshit.

Target 8 Actual MTD 1 sold (small loss), 1 deposit (good margin)

Ironically my HQ was in Vegas and I agree, in the US, people are expected to have tried and fallen at least once. I don't think for a second I will ever get there or ever want to be, but how many times have the wealthiest fallen before they made it - risk can go both ways, however my failings weren't entirely down to risk (albeit if I hadn't risked things it wouldn't have happened) - it was 99% down to my stupidity and greed, wanting to buy the latest gadget, car or boat. I still want all these things, of course but now if I want to blow £50k on a car, I will have £100k to spend. I don't think TT expected the backlash and to be honest I didn't expect the support (and I certainly don't deserve it). I think perhaps TT saw a failure offering advice and made a quick remark without considering there may be a back story. I would rather have been able to say, I made £1m in my 1st year, £2m in my second, £3m in my third but lost £156k in my 4th. That to me would have been a much nicer tale but the truth is basically, I was a twat and lived beyond my means, over stretched, expanded too quickly and had no reserve funds - the end.

Thank you very much. It is very early days and I will never take anything or any success for granted again. The difference is largely down to me having grown up. At 27 earning those figures, I would think nothing of smoking around in a Jag or RR and buying cars which I liked to drive. Now my daily driver is a Ford Transit that I paid £1k for and I love the old bus - my money is now tied in stock and two houses and I get more satisfaction knowing that I could cash it all in and buy a new 911 than actually doing it. Thanks TV - there's no need for TT to respond; I really don't mind what people think of me or my business and I certainly don't mind people having an opinion. I am happy to help or advise anyone on here if they think I can add value or help through the tough times (which is when people need help). I am sure I am not the only one who has lost everything, is close to doing so, or thinks they can't make it work. One thing I shall never do is be smug if I make this work and/or try to belittle those who are struggling. Thank you AD Thanks Sparky I take ownership of every bad decision/greed of my previous disaster - what more can I do than learn from it. Probably cost me less than a University degree nowadays.

Just for clarity, it was my 3rd or 4th year of trading and I blame nobody but myself. I started trading properly at 27 and did very well initially, everything aligned and I was selling between 3-7 a week with great margins and very low overheads (open pitch £100wk all in). I'm not proud but fast forward a few years and I decided to expand far too quickly, employing staff, taking on additional property - ex's went through the roof and for some unbeknown reason, cars stopped selling. Being a "green" young man, I had not built any reserves, living a lifestyle that wasn't really sustainable, stupidly believing that I would always earn those figures having not worked through hard times previously. Long story short, it ran away with me and I lost everything. I reiterate, it was no ones fault but my own. Forced by my own stupidity, I re entered the employed sector and after a while earned board positions with multi million pound organisations and I put that success down in part to the lessons I learned running my own business. Last year, I decided (after 12 years of rebuilding things) to quit my corporate life and start again and that's the story. I agree True Trade, I am a wannabe, maybe I will make it, maybe I won't but believe me; if anyone needs advice I talk from real and painful experience.

You’re in business, a quite successful one by the sound of it. Therefore you know the difference between top line and bottom line. I could easily sell my entire stock every month if I reduced my margins but I like to do the job right and stand by my customers if a fault occurs - that requires a lot of prep, proper servicing, paint, MOT, PDI, etc etc. People often say to me, how much did you pay for that then? (Why the fuck do they think you should tell them that). It is irrelevant. I often have £2k gross margin (hammer price to selling price). Less: Buyers Fee, transport, fuel, MOT, service, valet, paint repair, mechanical repairs, VAT margin and Tax (my variable costs) less Rent, heating, lighting, phones, advertising, etc (my fixed costs). In truth on a good car, good deal - I may make £600 pre tax (taking everything else in to consideration) and if I am lucky sell 8 a month. See my VAT margin looks great but in reality, like everything. It’s not about what you bring in but what you pay out.

I have an enquiry on a Skoda Yeti 2013 with 3k from its one owner. Haven’t got a single picture up yet. Can’t wait until it is up for sale next week.

Or just get your kebab ready for you with plenty of mayonnaise and lots of salt and vinegar on the chips - FFS, when will they learn, that’s all a bevvied up man wants to eat. Amazing Umesh - didn’t Saab go pop at least 3 years ago, where can you find these nearly new ones?

Thanks for bigging me up (I need it). If I could repeat the other months performance every month, I could achieve the figures spouted on the other thread but reality says out of 6 complete months proper trading, two have been stonking, two have been a minimum wage and two I may as well have shut shop. Am I worried? Not overly, I'm full of decent stock, my average value has increased and AT has just told me they will double my package for free Dec/Jan - what could possibly go wrong?

In at the deep end. Big win or big fail story will follow soon.

Just for balance, I lost £156k one year (2005).

There have been a couple of occasions where I have had a 2 seater (TT, Smart etc) and a mature couple have arrived and obviously both want to go out and I’ve had more than 1 set of punters to deal with. In this instance, I have let them drive themselves around (both times leading to a sale). Or on a real old PX shitter, I just can’t build the enthusiasm to lock the office up, put a sign up just to listen to their pitiful bullshit - to make a couple hundred.

Absolutely shit here at the moment too. Only enquiries I get at the moment are asking me to pay an invoice. 12-14 in stock, 1 sold at a small loss, the other healthy margin. It is said on here a lot but as we’ve just moved to a VOIP phone system, I am constantly ringing myself to check it works. Weather does not help lift my mood either but at least my stock is looking superb and indoors which can only help. Onwards and Upwards. In the words of D’ream.......

I'm all for anything kebab It is really, really, really quiet here too.

Just ordered one - thank you Tradex

I see it differently. My first car was a Mk2 Escort 1.3 Pop with twin choke Webber and a K&N filter, paid £290 and resprayed it. I was soooo embarrased to drive it as it was the equivalent of the 80/90's chav car. Even in that spec, I couldn't afford to buy a clean one nowadays. Personally, I would drop the fluids and replenish and store in a dry place for the next 20 years - remember this post. If you want it gone PM me - I hate that model but I can see the future appeal.