Challenges and 2018

[umesh 336]

As 2017 comes to a close (NOT Until 31st I hasten to add) what had been challenging and what do you as the biggest challenges for 2018?
Getting the right stock at the right price to have a sensible return on investment, customer expectations, and return on investment with advertising platforms are the main ones and year on year it’s the same ones but with more issues.
So what other challenges do you think we face as Independent Dealers in 2018 and what do you think that you’ll do different in 2018 that will ‘make the difference’ to you/your business.

Umesh 

[justina3 518]

I think as self employed small business owners we will do what we always do and adapt to what ever carnage is thrown at us, I am semi involved with a building company and they also have there versions of headaches so i dont think the motor trade are alone, its tough out there and dont see that changing anytime soon.

 

 

 

[grant8064 219]

2017 for us has been really good. Our only big challenge has been sourcing stock (as always). Where the hell are all those 50k seven year old Fiestas, Golfs and Zafiras actually going? We're not asking for Ferraris, just the most common cars in the UK.

2018 - I envisage squeezed margins as we fight for good stock and buyers have less money to purchase with but similar ridiculous expectations of a used car. Expenses for advertising, utilities, rent and rates will increase. Otherwise I don't think much will change.

As Justina3 says - YOU HAVE TO ADAPT. 

We've seen both our main competitors locally fold, with one disappearing this week. Why? Stocking loans got out of hand for one and they didn't prep properly so were in court every month. The other simply got lazy and stocked and did what they always did which doesn't cut it anymore. Of note, both were renowned for poor prep and sending half finished cars out which is a ticking time bomb IMO. Do the job once and do it right. Sacrifice a few quid in prep now but it will/should pay off long term.

 

 

[trade vet 697]

We are OK,we now know what you have to do to make a difference in order to get ahead.Our guys have just come back from a finance company  seminar.Their independent bullshit training consultant has informed us that we should all get to know our customers more,family backgrounds etc and ‘wait for it’ be friends with them.Apparently,even the ones who give you a hard time.Wouldn’t that be lovely,attending their family get togethers on your day off and mediating in their feuds etc.You wonder  how much these consultants get paid and who is responsible for employing them !

[BHM 994]

Hahaha, don’t worry, you’re paying their wages indirectly.

[metcars 395]

The looming spectre of Brexit is a concern for all businesses.

Generally speaking when customers are looking to 'pull in their horns' its the new car purchase that gets put on hold first.  This trade tends to feel the effects of any recession or downturn first .

[It's me 611]

come on that brexit

i see it as an advantage as im surrounded by eastern europeans cutting my throat

i will do the same next year as i did this year and all the years before

head down buy the best make them better offer a proper service back it up and count the lolly