Bluechip Classics 7 Posted October 10, 2017 Morning all, I'm going full time in the new year and I've got pretty much everything covered in terms of setting up, but one area I'm a bit in the dark on so would appreciate your experience... Generally speaking, what percentage of your inventory do you turn over each month - i.e. from a pool of 10 cars say, how many would you expect to sell in a month? Appreciate this will depend somewhat on the type of stock and various other factors, but would be good to get a feeling so I can make some judgements on start up inventory based on my chosen market. Many thanks in advance, Pad Share this post Link to post Share on other sites
justina3 518 Posted October 10, 2017 That's almost impossible to answer as each month is very very different, plus each dealer will be totally different in what they pull profit wise from a car, i know a guy who is happy to make £100 a motor so sells over double what i move, however profit is king in my book and i get no where near the amount of headaches he does, then add in the mix people who sell £1000, against people who sell £10,000 I feel the answers you get will give you no help. Turnover is vanity that old chestnut springs to mind Share this post Link to post Share on other sites
Bluechip Classics 7 Posted October 10, 2017 Fair point, it's probably asking people a bit much to fill in the blanks (margin/selling price) for context - must have been thinking about it in my sleep and thought there was a silver bullet!! I guess I'm just going to have to work it out by trial and error... Cheers Share this post Link to post Share on other sites
Bluechip Classics 7 Posted October 10, 2017 7 minutes ago, tradex said: I've got this piece of string.... Can I borrow it please? Share this post Link to post Share on other sites
It's me 615 Posted October 10, 2017 1 hour ago, brightonpad said: Can I borrow it please? no im still using it 1 Share this post Link to post Share on other sites
trade vet 702 Posted October 11, 2017 23 hours ago, brightonpad said: Morning all, I'm going full time in the new year and I've got pretty much everything covered in terms of setting up, but one area I'm a bit in the dark on so would appreciate your experience... Generally speaking, what percentage of your inventory do you turn over each month - i.e. from a pool of 10 cars say, how many would you expect to sell in a month? Appreciate this will depend somewhat on the type of stock and various other factors, but would be good to get a feeling so I can make some judgements on start up inventory based on my chosen market. Many thanks in advance, Pad Hi Brightonpad We need more info.For a start up with little experience,If you are getting a 10 car pitch,that means stocking 14/15 ( inc workshops/paitshops/stock in transit etc ),you prepare them and present them to a high standard,offer finance,work 7 days,sell 'bread and butter stock',this should get you 12 deals per month.If you are doing 'lumpy stock',you can probably half that.However, with a pitch,they are all different,so it takes a while to find out what sells best and where to find it.At the end of the day,it is about making money of course,but you have to be prepared to lose money as well.When I started,I just regarded myself as a full time valeter and in between people would buy a car ! .........If you are temperamental or easily influenced and believe other traders who are 'pulling a grand or 2 grand out of this and that deal',don't bother starting ...............most of them are liars ! Share this post Link to post Share on other sites
BHM 994 Posted October 11, 2017 (edited) Haha, this game attracts some of the biggest b*********s on earth & the auction houses are full of them - some of them must be on £15K per week & still live like pigs in a s******e Edited October 11, 2017 by Becca Chaplin Share this post Link to post Share on other sites
It's me 615 Posted October 11, 2017 hi im not a messer mate im really interested in your string but need a couple of questions answering are you trade or private? what tension will the string go to? does it come with a warranty? i am really interested if you dont put it up on Paddock Wood,i wud pay cash too do you deliver? i see you have a a nice female in the reflection of the string, there,is she for sale too? Share this post Link to post Share on other sites
Bluechip Classics 7 Posted October 11, 2017 @tradex – nice post, most amusing Perhaps I should put a little context around my post, if nothing else it may serve you some amusement on a drab Wednesday… I’ve been employed for a technology/engineering company for 18 years and done very well out of it but find myself in an enviable position of being made redundant… enviable because it’s my choice. I could stay if I wanted to, but given I spend half of my time dreaming about cars and wondering about life outside the corporate world, this is a unique opportunity to try something completely different – in my mind, you don’t regret the things you do, only those you don’t. I am in an extremely fortunate position with respect to the pay-out… frankly, I could sit on my arse for 2 years and do nothing and still maintain my current lifestyle, but I’d rather take that capital and try and make it work for me. Worst case, I’ll get back in to industry after 2 years and if it’s all gone tits up, I’ll have lost nothing and banished the day dreaming. Best case I’ll be able to make a living doing something I love. This isn’t completely new to me. I’ve been ‘hobby trading’ for 15 years (with correct licences, insurance and tax returns). During that time, I’ve learnt that my interest is in dealing with ‘enthusiast cars’, not bread and butter. The latter is a market that is already well served by many others much more experienced than me. So, my target is 15-40 year old cars (modern classics if you want), £5-20K which probably puts me in the ‘lumpy stock’ category. My question really was to try and establish whether my starting position should be 10 off £5k cars or 5 off £10k cars (I have option on space that would accommodate more than 10 for a very good price, so that isn’t really a factor)… on reflection it was a naïve question and I’m going to set my stall out across some broad price points and just gain experience in the first year on what works for me. I’ll be more than happy to keep you updated on how it goes, warts and all!!! Cheers,Pad Share this post Link to post Share on other sites
It's me 615 Posted October 11, 2017 serious question what is your usp dont say what they say on alan sugars programme mind Share this post Link to post Share on other sites
Bluechip Classics 7 Posted October 11, 2017 29 minutes ago, s and b said: serious question what is your usp dont say what they say on alan sugars programme mind Serious and good question. I've wrangled with this a bit, and come to the conclusion that it's almost impossible to have one - in this game, someone has inevitably done it before. I'm pretty confident on my presentation standards and I'm very professional with whoever I deal with, but they are probably hygiene factors rather than USPs!!! I am not trying to compete with the 4 Star Classics/KGF/Millennium Heroes/Trinity Solutions brigade which border on concours level - I'm planning more on the straight, honest, usable, unmodified enthusiast cars with decent history etc. I'm aware that the buyers for this type of car don't mind buying privately, but I've really had very little issue in selling this type of car over the past years and demand seems to be strong so I figure there is room for me. I'm also realistic enough not to flog a dead horse - if the above doesn't work for me, then I'll find what does over and alter my focus... who knows what will work for me! But that's my starting point.. Cheers 9 minutes ago, tradex said: Pad I wish you all the luck with the venture but some of this is a little confusing to someone like myself, old, a tad senile maybe... "This isn’t completely new to me. I’ve been ‘hobby trading’ for 15 years (with correct licences, insurance and tax returns)." If you have been trading with 'licences' (could you expand as to what you have?) have trade insurance and pay tax on income and possibly VAT then you have been a professional trader for 15 years, not a 'hobby trader', by which I guess to be, well I'm not too sure really. There probably isn't much we can do offer much help to be honest, bar that if you opt for more cars sourcing stock then becomes even more of an issue than it already is....just go with the flow, 5 or 10, not much difference. It isn't really a question anyone could answer but yourself, you need to be comfortable with what you decide. I don't wish to sound like a life mentor but I will add you are in a position many here would envy. A stable job, regular'ish hours, good regular income, pension (I guess) and health (I guess again). Unless you are the sort who isn't risk adverse to a gamble on the horses and don't mind dropping a few grand then go for it, sink or swim if you have the urge. I understand the bit about it's the things 'we didn't do we regret' but wasn't that written by the same guy whom said money doesn't bring happiness....and you never hear a poor person saying that. best of luck Thanks Tradex, I guess you are correct in that I've been a 'professional' trader (by licences I mean trade plates and operating from a commercial premises, on a farm , not from home )... I guess I just meant I didn't do it as my principal source of income. I also am aware that I'm in a priviligded position, I don't take that for granted nor am I taking the decision lightly, but sometimes you just have to step outside your comfort zone and test yourself? That's how I feel right now anyway - I'm prepared to essentially gamble my redundancy on that and I'm fortunate my partner is behind me 100%. Appreciate the good will, I know it's going to be tough.. Share this post Link to post Share on other sites
Bluechip Classics 7 Posted October 11, 2017 Yes, that is forefront in my mind. I've been keeping a careful eye on here (and wider media) about general trends and I completely hear what you are saying... conditions could well be converging for another crash - luckily I'm not overcommitted debt wise personally. I'm past the point of no return with respect on the redundancy, but I have experience which is valuable in the contract engineering market, so if after a few months I'm really not making anything I do have that I can fall back on without committing to a new company, leaving time to weather the storm and then try again when the conditions are more clement. Share this post Link to post Share on other sites
trade vet 702 Posted October 11, 2017 So it's potential classic stuff you are dealing.I think that has a lot of potential with electric cars coming on stream.There are a lot better off ' midlife crisis punters' out there who will want potential classics.I was talking to one guy who only deals in Reliant 3 wheelers as well as their parts,he told me he actually exports quite a few Reliants and I think he charges £7 to £8 grand for them! He has asked me to watch out for them ! I found this unbelievable,but it is true ' So good luck in your venture. 1 Share this post Link to post Share on other sites
Bluechip Classics 7 Posted October 11, 2017 Thank you for the encouragement trade vet.. yes, you've nailed it.. 40 something's wanting to relive their teens/twenties - either cars they owned or aspired to. Pretty much like me Share this post Link to post Share on other sites
Arfur Dealy 823 Posted October 11, 2017 On 10/10/2017 at 8:02 AM, brightonpad said: Morning all, I'm going full time in the new year and I've got pretty much everything covered in terms of setting up, but one area I'm a bit in the dark on so would appreciate your experience... Generally speaking, what percentage of your inventory do you turn over each month - i.e. from a pool of 10 cars say, how many would you expect to sell in a month? Appreciate this will depend somewhat on the type of stock and various other factors, but would be good to get a feeling so I can make some judgements on start up inventory based on my chosen market. Many thanks in advance, Pad I generally flip 75% monthly. But, you don’t know your market Share this post Link to post Share on other sites
Row 71 Posted October 11, 2017 Hi, if you want to do something do it now that's my view there's no such thing as the right time, get stuck in and make it work, nothing's easy. 2 Share this post Link to post Share on other sites
Arfur Dealy 823 Posted October 12, 2017 10 hours ago, Row said: Hi, if you want to do something do it now that's my view there's no such thing as the right time, get stuck in and make it work, nothing's easy. Agreed follow your heart and make it happen 1 Share this post Link to post Share on other sites
Bluechip Classics 7 Posted October 12, 2017 Cheers all, your comments are greatly appreciated. Share this post Link to post Share on other sites
It's me 615 Posted October 12, 2017 yes but............. 1 Share this post Link to post Share on other sites
