YaranCars

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.

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.

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

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