Have your say on health and wellbeing in the automotive industry

[trade vet 702]

1 hour ago, EPV said:

Plenty I expect, I imagine they don't all shout about it. Still, some will always prefer the gloomy outlook. Misery loves company they say.

Hi James

The correct answer is not many,that is why I was asking.Net profit in this job averages at between 1p and 2p per pound of T/O.then there is tax to pay on top.So again ,who knows any company doing better than that.( Motability excluded)

[EPV 631]

8 minutes ago, trade vet said:

Hi James

The correct answer is not many,that is why I was asking.Net profit in this job averages at between 1p and 2p per pound of T/O.then there is tax to pay on top.So again ,who knows any company doing better than that.( Motability excluded)

Those are interesting figures, where do they come from? 

[trade vet 702]

7 minutes ago, EPV said:

Those are interesting figures, where do they come from? 

Everywhere I think except maybe for dealers in East Anglia,if you give me some names of dealers in your area,I may be able to demonstrate.

[EPV 631]

21 minutes ago, trade vet said:

Everywhere I think except maybe for dealers in East Anglia,if you give me some names of dealers in your area,I may be able to demonstrate.

Sorry, I meant where as in where you are getting that from. Companies house or something?

[trade vet 702]

35 minutes ago, EPV said:

Sorry, I meant where as in where you are getting that from. Companies house or something?

It’s all in the public domain for free if you know where to look..Directors searches,Companies House,press releases,just searching people’s names can bring things up.I think it is a good idea to try and find out what your competitors are doing and sometimes it is not what it seems.

[EPV 631]

11 minutes ago, trade vet said:

It’s all in the public domain for free if you know where to look..Directors searches,Companies House,press releases,just searching people’s names can bring things up.I think it is a good idea to try and find out what your competitors are doing and sometimes it is not what it seems.

Well, each to their own. I personally couldn't give a toss what my competition are doing in terms of their financials, I will look and sometimes pinch ideas that I think are good but whether they are making or losing money is irrelevant I think. I spend my time buying and selling cars and so far, I seem to be quite good at it and wouldn't bother if I was earning 2% on T/O. Spending my time researching how much money a competitor is making or losing is a waste of time.

You asked "who is making a healthy profit" and I believe many people are, I am one of them but of course, for very obvious reasons I am not going to disclose the reality in a public domain and neither would anyone else who has half an ounce of sense. Sometimes I think some people on here can be quite pessimistic or despondent about this industry and I personally don't see why. I don't go to auctions, I don't listen to other traders unless I want to, I don't believe everything I see or hear and I can only speak intelligently about my own business and those of those other traders whom I am close with and on that subject, I know of several dealers who are doing enough to pay themselves well and be their own boss. Beyond that, who cares, really?

[stockedup! 63]

On ‎05‎/‎12‎/‎2018 at 3:08 PM, trade vet said:

Hi Elliot

Income generation proposal for BEN

I have just done my own survey of the Ben financial statements.While it is an excellent long established successfull charity with its dedication to the care and well being of retirees,it appears that this level of care has extended to its directors remuneration.I am unsure why 12 people should be earning approx.£2m plus benefits to run it.I would have thought there would be many retired main dealer principals who would do the same job for a fraction of the cost.

Well said Trade Vet.

I honestly don't know how people can draw so much money when others are doing it all for nothing, £2 million between 12 of them, they are having a right royal do!!

Foodbanks are the way forward for me...….giving to them before you all start

[trade vet 702]

9 hours ago, EPV said:

Well, each to their own. I personally couldn't give a toss what my competition are doing in terms of their financials, I will look and sometimes pinch ideas that I think are good but whether they are making or losing money is irrelevant I think. I spend my time buying and selling cars and so far, I seem to be quite good at it and wouldn't bother if I was earning 2% on T/O. Spending my time researching how much money a competitor is making or losing is a waste of time.

You asked "who is making a healthy profit" and I believe many people are, I am one of them but of course, for very obvious reasons I am not going to disclose the reality in a public domain and neither would anyone else who has half an ounce of sense. Sometimes I think some people on here can be quite pessimistic or despondent about this industry and I personally don't see why. I don't go to auctions, I don't listen to other traders unless I want to, I don't believe everything I see or hear and I can only speak intelligently about my own business and those of those other traders whom I am close with and on that subject, I know of several dealers who are doing enough to pay themselves well and be their own boss. Beyond that, who cares, really?

If you had a pitch you might take a different view.The sort of thing that happens is that the parts van driver or the dent guy might tell you that X down the road has told him they did 17 over the weekend.You may have done 2 and have several comebacks on a Monday morning.This usually does not make you feel good.However,when you know their business has a negative net worth and a £500k stocking loan based on their last results,you can just brush it off.However,I do like looking at company accounts but not especially our trade. I was pleased to see Motability being slated by the authorities yesterday as  I have to admit I did make a complaint through official channels about them 2 years ago.

[EPV 631]

9 minutes ago, trade vet said:

If you had a pitch you might take a different view.The sort of thing that happens is that the parts van driver or the dent guy might tell you that X down the road has told him they did 17 over the weekend.You may have done 2 and have several comebacks on a Monday morning.This usually does not make you feel good.However,when you know their business has a negative net worth and a £500k stocking loan based on their last results,you can just brush it off.However,I do like looking at company accounts but not especially our trade. I was pleased to see Motability being slated by the authorities yesterday as  I have to admit I did make a complaint through official channels about them 2 years ago.

I don’t believe I would. It’s still the same concept. Do what you do best, look at the long term picture and don’t worry what others are are or are not doing. If you’re not happy with your lot in life then fine, do something productive about it. Looking at other dealers and thinking “oh that’s alright he’s doing no better than me” is a waste of time and effort. 

[trade vet 702]

48 minutes ago, EPV said:

I don’t believe I would. It’s still the same concept. Do what you do best, look at the long term picture and don’t worry what others are are or are not doing. If you’re not happy with your lot in life then fine, do something productive about it. Looking at other dealers and thinking “oh that’s alright he’s doing no better than me” is a waste of time and effort. 

What ?

[EPV 631]

15 minutes ago, trade vet said:

What ?

I don’t believe I would think differently if I had a pitch. It makes no difference. Just get on with what you do well and stop worrying about what others are doing. That’s what i’m saying. 

[Area 51 33]

Just now, EPV said:

I don’t believe I would think differently if I had a pitch. It makes no difference. Just get on with what you do well and stop worrying about what others are doing. That’s what i’m saying. 

Tend to agree here, you already mentioned keeping an eye on the competition / market place and tweaking anything you think is useful to suit your own business model; sound advice really as it works this way across most businesses. Putting energy into some of benefit will bring results.

[trade vet 702]

8 hours ago, EPV said:

I don’t believe I would think differently if I had a pitch. It makes no difference. Just get on with what you do well and stop worrying about what others are doing. That’s what i’m saying. 

Anyway James,cracking awards photo on your site,that will not do you any harm.Also,as an example of what is typical with this job.There appears to be a big impressive pitch a couple of miles from you.If you are interested the   ‘good ‘ news is that having checked their results,you will be doing better than them.

[EPV 631]

16 minutes ago, trade vet said:

Anyway James,cracking awards photo on your site,that will not do you any harm.Also,as an example of what is typical with this job.There appears to be a big impressive pitch a couple of miles from you.If you are interested the   ‘good ‘ news is that having checked their results,you will be doing better than them.

I see! Well thanks for that information anyway!