Leekent 2 Posted October 12, 2018 Hi all, long time lurker here and decided to sign up just now. Absolute newbie here from Kent. Ive been avidly reading the forum for about 7 months and think I’ve possibly read every thread from when the forum 1st started lol. I own an electrical contractors business and employ 6 so business isn’t a new thing for me but obviously this trade is...Looking for a little advice really and wether it’s worthwile having a go. I have a unit and parking that would comfortably fit 6 inside and 6 outside. I’ve found 4 traders within a 40 mile radius that advertise their stock as sold on their websites. Over the past 6 months I’ve been recording what cars sell and what seems to sit about a little longer. The stock I’ve identified seem to pretty much sell within 30-40 days If under 90k miles, no older than 2012 and priced a couple of hundred quid under the top end price given by auto trader using their valuation tool. I have a bit of money myself and a private backer and thinking of having a go. Being able to offer finance would be a must IMO for my preffered stock so would need to go down the FCA route etc. sales would be by appointment only at my unit which I’m there pretty much 8-5 Monday to sat. I have friends in the trade that run their own businesses auto electrician, mechanic, body shop etc. would you say go for it or totally sway someone like me totally away from having a go? If I kept 12 cars in stock my projections would be based on doing around 7 a month...does this seem reasonable? Thanks for your time Lee Share this post Link to post Share on other sites
Stalker 180 Posted October 12, 2018 (edited) Welcome Leekent. In a country that has a huge skill shortage, I think I would be looking to rinse the electrical contractors side of things dry if it were me. There is more money to be made doing a rewire on a 3-bed semi than there is in selling 5 cars. (Nett of course) sorry for the negative reply. Edited October 12, 2018 by Stalker 1 Share this post Link to post Share on other sites
Leekent 2 Posted October 12, 2018 (edited) 7 minutes ago, Stalker said: Welcome Leekent. In a country that has a huge skill shortage, I think I would be looking to rinse the electrical contractors side of things dry if it were me. There is more money to be made doing a rewire on a 3-bed semi than there is in selling 5 cars. (Nett of course) sorry for the negative reply. Thank you for the reply. I do ok out the electrical contractors business but it’s not as cushy as everyone thinks. Most sparks around my way demand 170 a day and realistically can only be charged out at 220 a day. Nicking 50 a bloke is only scalable so much IMO. Im not looking to totally switch trades but more of another string to the bow. I’m only 29 so plenty of working life left in me, willing to Graft and don’t expect things to come for free. I’ve got my business to a point where I don’t have to be massively hands on everyday and looking at other avenues of making money. Edited October 12, 2018 by Leekent Share this post Link to post Share on other sites
EPV 631 Posted October 12, 2018 Do you want to rent your unit out to me? I’m looking for a place exactly like you describe. In Kent. Preferably near Bromley. Or in it 54 minutes ago, Leekent said: Thank you for the reply. I do ok out the electrical contractors business but it’s not as cushy as everyone thinks. Most sparks around my way demand 170 a day and realistically can only be charged out at 220 a day. Nicking 50 a bloke is only scalable so much IMO. Im not looking to totally switch trades but more of another string to the bow. I’m only 29 so plenty of working life left in me, willing to Graft and don’t expect things to come for free. I’ve got my business to a point where I don’t have to be massively hands on everyday and looking at other avenues of making money. You could never run a pitch/unit of 12 cars part time. Never. Not on your own. It’s massively time consuming, some days you just end up doing what feels like fuck all. Today was a day like that for me, i’ve done a full day and felt like i’ve done fuck all. The reality is, I sold one, mopped another, photographed and videoed two, bought two online, but i’ve still got another 3 to photo and video, 2 of those will need a mop, I have two arriving early next week, it just goes on mate. I wouldn’t change it mind. Just saying this isn’t a business you can set up and run in the background. It’s not a string to a bow. It’s the bow, all the strings, all the arrows and anything you can hit with the arrows. You’re either conkers deep or you’re not. Thats not me being pessimistic, if I can do it anyone can. It’s me being honest. 2 Share this post Link to post Share on other sites
Leekent 2 Posted October 12, 2018 Lol I’m near Canterbury, on the outskirts. Don’t you get in a £40 a dayer to do all the valeting, toing and froing etc ? Share this post Link to post Share on other sites
EPV 631 Posted October 12, 2018 3 minutes ago, Leekent said: Lol I’m near Canterbury, on the outskirts. Don’t you get in a £40 a dayer to do all the valeting, toing and froing etc ? How dare you, I pay him £45 a day and only make him do 6.5 days a week 1 Share this post Link to post Share on other sites
Leekent 2 Posted October 12, 2018 (edited) 3 minutes ago, EPV said: How dare you, I pay him £45 a day and only make him do 6.5 days a week Bloody part timer....probably doesn’t know how good he’s actually got it either Edited October 12, 2018 by Leekent Share this post Link to post Share on other sites
Stephen 21 Posted October 12, 2018 Got to agree with epv I’ve tried part time and basically, it just doesn’t work have I made money probably lost 1/2k over a year learned a massive amount, thanks to mainly people on here but as it’s still part time either take plunge and do it full time or walk away i still haven’t decided what to do but think walking away will happen 1 Share this post Link to post Share on other sites
Leekent 2 Posted October 12, 2018 (edited) 9 minutes ago, Stephen said: Got to agree with epv I’ve tried part time and basically, it just doesn’t work have I made money probably lost 1/2k over a year learned a massive amount, thanks to mainly people on here but as it’s still part time either take plunge and do it full time or walk away i still haven’t decided what to do but think walking away will happen One of my friends has a pitch and stocks 25. The pitch isn’t anything special yard and portacabin style but is doing 16-22 units a month and claims to of made 165k this year after expenses. Just done his second years books...does this sound like bollox? Edited October 12, 2018 by Leekent Share this post Link to post Share on other sites
Stephen 21 Posted October 12, 2018 Sounds like he doesn’t do it part time alongside another business to me if he’s limited check out his books, anything’s possible I know various car dealers that are sitting very pretty now 1 Share this post Link to post Share on other sites
Leekent 2 Posted October 12, 2018 Just now, Stephen said: Sounds like he doesn’t do it part time alongside another business to me if he’s limited check out his books, anything’s possible I know various car dealers that are sitting very pretty now He’s also into developing so his time is split. He has 1 salesman. Share this post Link to post Share on other sites
It's me 615 Posted October 12, 2018 3 minutes ago, Leekent said: He’s also into developing digital is much easier just sayin.............. Share this post Link to post Share on other sites
Stephen 21 Posted October 12, 2018 developing there’s where their is money, just sold 2 complete refurbs this year and enjoyed it. Far far easier than car game believe me 1 Share this post Link to post Share on other sites
Leekent 2 Posted October 12, 2018 12 minutes ago, boring dave said: digital is much easier just sayin.............. Sorry Dave, I don’t follow? Share this post Link to post Share on other sites
whitestone679231 113 Posted October 13, 2018 I am in this game cus I am too thick to be a sparky or a plumber, but it ain’t easy n it certainly ain’t part time Share this post Link to post Share on other sites
sparky 274 Posted October 13, 2018 8 hours ago, Leekent said: One of my friends has a pitch and stocks 25. The pitch isn’t anything special yard and portacabin style but is doing 16-22 units a month and claims to of made 165k this year after expenses. Just done his second years books...does this sound like bollox? 'Claims' being the magic word. Share this post Link to post Share on other sites
Dealer 54 Posted October 13, 2018 9 hours ago, Leekent said: One of my friends has a pitch and stocks 25. The pitch isn’t anything special yard and portacabin style but is doing 16-22 units a month and claims to of made 165k this year after expenses. Just done his second years books...does this sound like bollox? Soooooo many bullsh1tters in this game it's unreal, they are all the best buyers, best sellers, best description writers, best photographers, have the best sales pitch etc etc etc. I've got upto 50 in stock, main road site and best month ever was 27, haven't touched that for a while though. He's either exaggerating his sales figures or quite possibly w4nking them away with too little profit which for me is quite frankly not worth doing as overheads for us are massive, 5k a month advertising, 3 wages, parts, rent, tyres, mot and repairs, fuel, transportation costs, paint all come out at around 20k plus. Share this post Link to post Share on other sites
trade vet 704 Posted October 13, 2018 9 hours ago, Leekent said: One of my friends has a pitch and stocks 25. The pitch isn’t anything special yard and portacabin style but is doing 16-22 units a month and claims to of made 165k this year after expenses. Just done his second years books...does this sound like bollox? Yes it is bollox.This type of talk is normal in this job.If he is employing people and paying the proper rate of VAT,PAYE etc plus his pitch costs,his cost of sales could be £800 per car including his own drawings at say £30k.He is probably trying to bring you in to his business.Take a look at his accounts,I bet he won’t let you. My advice,stick to what you are doing.The bottom line is that it is hard to net 2% on T/O before corporation tax in this job.How does that compare with electrical contractors. Share this post Link to post Share on other sites
Nick M.K. 574 Posted October 13, 2018 17 minutes ago, Dealer said: He's either exaggerating his sales figures or quite possibly w4nking them away with too little profit I like the latest expression, never heard it before but makes perfect sense. I am yet to meet a dealer that doesn't exaggerate their stock holding or their sales figures or their profit margin or a combination of the above. Obviously it's not so easy to do on this open forum when all stock is on a website and all stock movements are there for everyone to see. 1 Share this post Link to post Share on other sites
Dealer 54 Posted October 13, 2018 3 minutes ago, Nick M.K. said: I like the latest expression, never heard it before but makes perfect sense. I am yet to meet a dealer that doesn't exaggerate their stock holding or their sales figures or their profit margin or a combination of the above. Obviously it's not so easy to do on this open forum when all stock is on a website and all stock movements are there for everyone to see. You know yourself Nick that putting £400 to £500 across the bonnet per unit will certainly shift them quicker and if you are a private or perhaps a doorstepper with little or no overheads then it may work but this won't cater for comebacks etc and is not the way i would run a business. Share this post Link to post Share on other sites
Nick M.K. 574 Posted October 13, 2018 7 minutes ago, Dealer said: if you are a private or perhaps a doorstepper with little or no overheads £400 across the bonnet when I only sell 8-12 a month will not get my pulse racing and get me glued in front of this computer (and on the M25) for 80+ hours a week. Share this post Link to post Share on other sites
justina3 518 Posted October 13, 2018 I echo the above advise, I would stick to what you know and know well, this game is to expensive to just dip a toe in, its a massive steep learning curve and thats if you do learn lots dont. I run three other businesses but there all bar one connected where they add value to each other and the staff can switch roles very easy, yours doesnt sound like that. As already mentioned this is far from a part time job if anything you put more hours for less return than most businesses i can think of. And i think your mates figures are total rat poo, Share this post Link to post Share on other sites
Dealer 54 Posted October 13, 2018 7 minutes ago, justina3 said: I run three other businesses but there all bar one connected where they add value to each other and the staff can switch roles very easy, yours doesnt sound like that. As already mentioned this is far from a part time job if anything you put more hours for less return than most businesses i can think of. And i think your mates figures are total rat poo, Trade centre wales, trade centre uk and 7 day cars is definitely a big operation for you Justin Share this post Link to post Share on other sites
justina3 518 Posted October 13, 2018 13 minutes ago, Dealer said: Trade centre wales, trade centre uk and 7 day cars is definitely a big operation for you Justin If i had a tenth of there money i would be happy and wouldnt be sitting here watching the rain Share this post Link to post Share on other sites
David Horgan 564 Posted October 13, 2018 Part Time selling cars , Never work . Every one makes the mistake of selling car and earn £500 x it by 8 = 4k suppose you will sell that 8 is every month = 48k a year , Simples Reality is so far from that , believe me , finding stock, fetching stock , prepping stock , dealing with the non sellers as there will be some , waiting for customers , down time time with faults , expenses , VAT , wages , parts , fuel , cleaning products , bills from fixing , tyres . MOT tests , warranty costs , and the list goes on . 12 cars selling part time wont work . Not a matter of getting a £40 day jobber a mate to sort any faults and sell car. More to it than you think my friend . But if you have spare 50/60k kicking around you wont miss go for it , bet you will remember it for a while to come . BUT , nothing ventured , nothing gained , hope it all goes well whatever you choose . Share this post Link to post Share on other sites
