Lucas

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Posts posted by Lucas

  1. Posted

    16 minutes ago, Mark101 said:

    I have had an open main road pitch, been a doorstepper and now a unit trader.

    Out of the three, the unit is my preference, especially this time of year - no scraping ice from windows every day, no misted up windows or damp, less flat batteries, far, far, far less repeat cleaning and not weather dependant.

    That is true. 

  2. Posted · Edited by Lucas

    That's what I am thinking, too. I actually didn't know car sales can be in the industrial unit and home-based before! As an end user, I thought car dealers should be found on the roadside until I come to this forum. So, maybe some other end users like me also only know the roadside dealer. That also convinced me to take the roadside pitch.

  7. Posted · Edited by Lucas

    1 hour ago, boring dave said:

    Always good to dig a little deeper i.e. do a company check its surprising how many businesses are zombie ones so just because they are established doesn't mean a jot, anymore

    Thank you, Dave. Very good remind. Yes, the previous business registered 5 years ago, still legally active but totally out of business already. A young man owner. He got 4.8 rates from the 20+ reviews in AT. Total asset before the business close down was about 120K for 30-40 cars. So, the average stock sales price point at 4K in my understanding. 

    One thing almost certain is that the previous owner must have a thousand times more experience than me in the car business. That said, I will certainly fail if I do the something. So, for this site, market research deeper is required.

    Furthermore. One of the competitors close by, he has 110-120 cars in stock, total asset approximately 750K. About 46% inventory bought by financing, plus 200K overdue debt, so the real asset net worth is about 160K only. That guy is a very experienced pro, I think he did a very good job by using 160K only to stock up 110-120 cars at the average sales price point at 7K. So, this shows clearly it's impossible I could compete with him in any way I think.

    Sorry mates. I might be wrong to express my non-experienced view here. Thus, this is the reason why I keep asking questions here. I need to learn more about the business. Thanks.

  8. Posted

    37 minutes ago, boring dave said:

    If it had a car trader before but is now empty then you have to ask why?

    It's usually because its too dear no walk on trade or its reputation is real bad in the area

    If it was any good another trader would be there and you wouldn't know it unless you realised the cars had changed

    Yes, you are right. This is a concern. My understanding is that not so much walk-in business. The pass-through traffic just drives through to somewhere. So, maybe not really useful. The previous business moved (looks like failed) could also most likely because of their operation. As I see several competitors nearby doing still fine and long-standing for decades.

    55 minutes ago, Screenman said:

    So you are in the middle of a load of guys who spend a lot of money on AT, make yours the best looking site and the best stock and you could nick customers off of their adverts.

    I know your area quite well as I had sites down that way in the 70s and 80s. 

    Good idea! As most likely the customers will drive through this site while they are going to some of another competitor.

  9. Posted

    6 minutes ago, DPF said:

    This shows you preferred site 2 but just hoping for reassurance 

    No preferred yet since I really have no experience whatsoever in the car sales location thing. I just express my common sense feel that could be a good site for a pro. I could be wrong since one pro just left the site. Furthermore, it's 50 minutes from home. Not easy.

    The site 1, however also good. Because of it just 15 minutes from home, it's a good size, all indoor, many car repairs, service and mot stations close by. It also could be a very good site if it's operated by an experienced pro.

  10. Posted · Edited by Lucas

    7 hours ago, Screenman said:

    Lucas where is the road side site?

    Thank you Screenman. I don't know if it's suitable or not to tell the location here. It's a private deal, not on the property agent network. It's about 50 minutes drive from my hometown. It's in a small town but quite high traffic location. I think it has average 8-10K cars pass through every day. The site, however, it had a car trader before. Then he moved recently. There are many competitors surround the target area, too. Some of the competitors seem to stand there for 10-20+ years already. The competitor's price points are various from 2K to 40K, stock levels from 30+ to 120+ cars. And all their stocks are on AT of courses as I mentioned before. This is all I can come up with this site. 

    I think it could be a good site if it run by an experienced trader.

  11. Posted · Edited by Lucas

    1 hour ago, Blenheim Car Sales said:

    Lucas you seem to be keen on posting threads on all manor of things we suspect you have access to 200k have you actually done anything as yet to get this something going ?? or  is it another 6m of threads and then we never hear from you again

    Thank you for your input. Please forget the money. I don't want to show off the money thing even I did a post about 200K looking for a business partnership at the very first time I get to this forum. That was a stupid mistake. Please forget about it. I keep posting the questions here just because I found people here are really helpful. I always got good advice and knowledge from the comments. They taught me a lot. I have to clear again that the only purpose for all my posts(except the very first one was looking for a partner) is for learning only. I am not looking for any other benefits. Not intended to show off or trying to prove anything. It just not necessary.

    Regarding your question for me. I do have some basic things done like registered a company, VAT registered, got a trade plate, etc. Then, now I am trying to rent a premise. Yes, not sold anything yet. Not even have a thing on the market yet. But it's all right. I don't think I have to sell a lot or must have a lot of experience before to set up a business, even though basic knowledge and common sense required. It just a choice. However, I do agree my way is the riskiest way though. So, I won't encourage others to do my way as well. As you can imagine that I am a new player. Things are going very slow, and the mistake made all the time. So, I am not really looking for a good result. Not saying to make good money, not saying to make it a success. My expectation is low since I know that I am not good at it. No big deal, just keep going and learning.

    Thank you.

    1 hour ago, Del Boy said:

    This!

    Once he has blown the cash, he will be doing something else. 

    Thank you for the comment.

  13. Posted · Edited by Lucas

    4 hours ago, DPF said:

    Roadside location 2 better less advertising costs. 

    Thank you for your input. I also think of this way earlier last month. Then I sadly found out all the roadside car dealers in that area have all their stock listed on AT. Some have 30+ cars, some 60+ cars, and some have 120+ cars. They still paying a lot to AT. Looks like they're not saving any advertisement fees. Really, until now, I can't find any dealer in my target area who is not realised on AT. This is good news, but also bad news. 

    Despite the fact that AT rule the used car buy and sell market. But roadside, somehow still attracted me. That is why I have to ask this question here to get more opinions. Thanks.

  14. Posted · Edited by Lucas

    Mates, I have to confess that there is no way I could be an expert in any part of the car business even though give me a couple years. Believe or not, even though let me run it at home for a couple years, I will still not as good as anyone of you today in any part of the car business. I will not become a good salesman, a good machinic, a good buyer, or a good inspector. That already proved in my previous small businesses. I just can't do anything better than the member in my companies who has expertise in their job. So, there is really not necessary to required me to become an expert before to set up a business.

    I really appreciated your concern and remind. Thank you very much.

    1 hour ago, andymc1973 said:

     

    Thank you. I know you have a good heart.

  18. Posted

    2 hours ago, justlooking said:

    Go for the Unit. 15 min drive will be excellent versus 50.

    How soon can you start? we want the next installment ASAP. 

    Thank you Justlooking. I am trying to make it asap. But things are going very slow. The agent working slow. The landlords need more time to consider my offer since I am new to the business, and they are still in holiday. Both of them required at least 6 months security deposit. I can't complaint as this is look like a normal practice.

  21. Posted · Edited by Lucas

    1 hour ago, Max Branning said:

    What is the cost of these premises?

    Have you calculated how many cars a year you would need to sell in order to break even after all known expenses ?

    With no experience you will burn money very quickly, do not expect to rent a flash unit stick a load of cars in and start making money.

    What is wrong with starting small and building up gradually? 

    Thank you! It's £35K annual inclusive. I think it needs 100+ cars to break even. 

    Nothing wrong with starting small. It just that I consider doing 5 cars at home is not a business. I could be most certainly wrong at some point by doing it bigger than my poor skill. But risk is every where, we have to take the risk sometimes.

    12 hours ago, MAP said:

    I’d go for the unit.

    Thank you for the answer. Good points!

  22. Posted · Edited by Lucas

    39 minutes ago, MrV said:

    Lucas can I ask why cars? What's the attraction with car sales? Even with someone running it you still believe you will get a return on your investment and then some? 

    Why not? All the businesses are risky.

    I am not saying I believe that I will get return on my investment. I just trying my luck. 

    38 minutes ago, ExCouncilJobsworth said:

    Lucas i used that emoji for the very reason you seem to be asking the same thing a million times over and ignoring the advice given.

    I don't mind running it for you...after all its your money and it seems like you want to throw it away so i dont mind having an attempt at running it... 

    Thank you. And, sorry mates. I think this is the first time I ask this question for picking one location out of two options.  Despite, I may asked some similar questions regarding location before.

    People might think whatever I asked are stupid questions. Most of you think I should not even get into the car business at all based on the facts that etc.etc. So, maybe this make people feel like: what? Lucas, you still asking such stupid questions? I told you not to do that business million times already. You just don't listen!

    I do listening. I have to say: Yes, you guys are right. I shouldn't do it because that is not a good fit. I totally understand you guys want to save me. I really appretiated. Thank you! But decision made. I can't always regret or change my mind. So, I will just do it.

  23. Posted · Edited by Lucas

    2 hours ago, D&M said:

    ^ What he said.

     

    But before diving it at the deep end, would it be a good idea to get a few sales under your belt to get a feel for what sells well for you?

    Thanks. Your suggestion is absolutely a right and good idea. However, I decided to setup a site regardless how many cars (or even no any cars) I sold beforehand. The fact is that I am not a good salesman (not even qualified!). So, I know I will never do as good as any one of you by myself (not even close!). So, the plan is to build a business model as I always did in my other businesses. I will hire someone to run it. Yes, it is diffrercult. But I do want to try my luck. :)

    I appreciated for any input.

  25. Posted · Edited by Lucas

    There are two locations. Let's say the rents are almost the same. In this case, which one will you pick: 

    Location 1: A 3,500 sqft industrial unit with two parking space in front. 15 minutes drive from home.

    Location 2: A roadside site with forecourt (fit 7 to 10 cars) + small office + backyard (fit 30 cars). 50 minutes drive from home.

    Which one will you pick? Why?