YaranCars
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4 NeutralAbout YaranCars
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Rank
Newbie
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Website URL
yarancars.com
Profile Information
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Gender
Male
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Location
Park Royal
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Your industry
Independent dealer
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Dealership/company name
Yaran Cars
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CDP: How to get set up selling Finance and Stocking Facilities
YaranCars replied to david gott's topic in General Dealer Chat
Thank you for the podcast, very informative -
Good Morning, I have had a very long think about all the advice that was given to me here and thanks to you guys I gave the guy an offer if he wanted to accept £2k rent to start off with otherwise it would not be worth it. As you would expect he refused. I am continuing to trade from home and keeping a lookout for a yard around the west London area to store and sell my stock. Every suitable commercial property that I contact refuses to work with motor trade. I do not quite know why, all they say is bas previous experiences. I am grateful that I have a good source of cars that have not yet caused me any hassle and I am working on getting my google reviews up and slowly growing into this sector. Although it has become a sector that is almost impossible to get into with so much red tape everywhere. I am very humbled that you remembered my story and came back to ask about the update.
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Hello, Just wanted to start off by saying thank you to everyone who commented you have all been very generous with your time and advice. I have got a bounce back loan but it is not enough to cover the costs of expanding and I have no access to capital from any other source. No they won't they understand that it is a risk and they are confident in the business model. Yes that is also something that I can do, there is a cheap parking lot not too far away where I can add additional cars if need be. Yes I agree with the stock type that is required in London, although sourcing them is never easy. With regards to the employees I have a couple already ready to start with me who have has prior experience in the field. That is why I wanted to ask everyone on here, I had the same thoughts cross my mind. So I thought I wanted to share my thoughts and see whether the figures and the basic indicators look good for me to take the step forward or stay as I am.
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Thank you for the solid advice, yes the 3k includes rent and rates. seeing as you have experienced the london market would you say that 3k rent for a 14 car showroom is good for park royal area? I will take onboard what you said about changing the type of vehicles. Thank you Thank you for the warm welcome. That is what is dividing me. Either I stay put and continue as I am or take a risk and hopefully grow. I wanted to see whether the rent and the number of vehicles seem like a good combination. True, but I wanted to see whether I can have some input maybe learn something from the amount of experience on this forum
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YaranCars started following Looking for Advice & Guidance
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Good Morning everyone, I have been reading this forum for over a year and I have learnt so much from everyone who contributes. I wanted some advice from people who are more experienced than myself. I have been trading from home for over a year and have been getting good sales and very good reviews. I am based in west London and I buy ex-lease cars that have full maintenance history that range in price from £6k - £13k retail. I am thinking of investing more into this business and renting a showroom close to where I live. This showroom has the capacity to hold 14 cars and the asking rent is for around £3k/ month. I have managed to source around £100k that from several people who can invest into this business. I am excited for this venture but I want some words of advice from any of the members here. Is it a good time to be going into this sector? is the investment enough? will I be able to be profitable with £3k/month rent for 14 car showroom? Thank you, Faz