justina3 518 Posted March 21, 2019 18 minutes ago, SteveG said: If I can be bold and ask - for the stock profile I propose is £100 / £150k p.a. net achievable when established? I would suggest that would have been impossible to answer, far to many factors that you can not factor in projections imo are just a stab in the dark and hope. Anything is achievable just the same as a net loss of £100 / £150k is just as easy to achieve. Share this post Link to post Share on other sites
Area 51 33 Posted March 21, 2019 2 minutes ago, twerp said: Any idea how RS Direct in Yate, Bristol manage to get their hands on so many privately owned RS stock ? Hoover up everything on owners forums ? More than likely is my guess, advertise on the RS owners webshite etc? Become known as the buyer to sell too with no hassles... ?? If the cars are straight, priced right can be win win 1 Share this post Link to post Share on other sites
SteveG 0 Posted March 21, 2019 2 minutes ago, twerp said: Any idea how RS Direct in Yate, Bristol manage to get their hands on so many privately owned RS stock ? Hoover up everything on owners forums ? I follow them.....the owner is not to everyone's taste but they have beautiful stock and turn it quick. He is the premier specialist in the marque and good luck to him. I know scots guys who have sold their cars down there based on them being the market leader and the first port of call for a sale. Share this post Link to post Share on other sites
Area 51 33 Posted March 21, 2019 4 minutes ago, SteveG said: I follow them.....the owner is not to everyone's taste but they have beautiful stock and turn it quick. He is the premier specialist in the marque and good luck to him. I know scots guys who have sold their cars down there based on them being the market leader and the first port of call for a sale. I'd guess thats the same as finding the stock that works for you and then hunting that stock down... takes time but you will also become known as the dealer who always has a decent motor... specialist/4x4 or whatever... One thing for sure, just stay way from volume/car supermarket tut... Share this post Link to post Share on other sites
Stalker 180 Posted March 21, 2019 25 minutes ago, twerp said: Any idea how RS Direct in Yate, Bristol manage to get their hands on so many privately owned RS stock ? Hoover up everything on owners forums ? Take note Steve, this outfit look like they play well. Check out their accounts. However i don't think it will have came easily for them. Share this post Link to post Share on other sites
SteveG 0 Posted March 21, 2019 22 minutes ago, Stalker said: Take note Steve, this outfit look like they play well. Check out their accounts. However i don't think it will have came easily for them. Nothing comes easy.....their accts are strong net asset growth from 2011 of £157k to £1.3m in 2017 and a £300k jump from 16 to 17 Share this post Link to post Share on other sites
FCA Compliance 0 Posted April 7, 2019 On 3/19/2019 at 2:27 PM, SteveG said: Hi been reading this forum for a wee while and bought the guide. A bit about me.. 46 live near Glasgow, work in Mergers & Acquisitions and have made good money..Travelling a lot and working really long hours. I have a passion for cars and have a nice personal fleet, active in a couple of owner club circles, Porsche and Focus RS. My car sales experience was for 4 years whilst I was at Uni. My uncle was GM in a Ford franchise and I used to work weekends in sales, prep etc and then over the summer months off uni and he gave me good work experience in sales as I essentially covered for the married sales guys who were taking time off for holidays. The money was decent as a kid and I got a buzz out of selling and seeing folk drive off happy. Im now in the position where given my M&A experience I am about to take up 3 Non exec director roles that calls on 5 days a month of my time but pay really, really well. My father recently died and I'm at a point of inflection in life. Spoke to my uncle who is now retired and he says if you want to go for it do it right..... There are a couple of units available nearby c3000 sq feet for circa £1400 per month and I'd like to specialise in cars that I know well. Fiesta St, focus st/rs, Porsche (have owned quite a few). I'm not afraid to take a risk and have c£300k available to start up, fit out and buy stock. I have in my head a target of 15 cars a month and having sold recently a couple of focus st / rs I know what you need to do mechanically to get them prepped. My thoughts are for staffing me, a nephew who is a car nut and just graduated from uni, he's great at digital media and has got himself trained up in car detailing. My uncle is recently semi retired and is a qualified mech and auto electrician. He does a couple of homers a week to keep his hand in and would be happy to do mech prep as he enjoys working on fast fords. My son would like to join when he leaves school in 18 months. He does not fancy university ad would like to work in the industry I would not be making any major drawings out of the business as would be living off my non exec fees, keen to do this to create an enterprise that offers well prepped cars cosmetically and mechanically and build a reputation as a specialist in fast ford, hot hatches and a few porsches. I don't think I will have a problem selling its buying where the skill will be and active in owners club may give some advantage but probably will find this part the most challenging My first question is am I mad to even contemplate this?? I I know the stock can hang around for a wee while but I will have zero debt to anybody so not scared and another income source, I'd like to offer finance also so would need to get approved, how long has it taken anybody as a start up to get to a position where they are offering finance? Thanks for taking the time to read and all advice welcome Good luck... The only against you is that you don't need it to work to pay your bills but hopefully the successful mindset that you have obviously enjoyed to date will compensate for that... Share this post Link to post Share on other sites
SteveG 0 Posted April 9, 2019 An update, looked at some units and spoke to my acct. Doing all the numbers and to start with I’m proposing - I have a 3 car garage at home and with a small rafter mod it let’s me get 3 x 2 lifts in meaning storage for 6. Just getting the structural engineer to put the building warrant in - keep the cars detailed, on trickle charge and secure at home, no sales from home - sell from an office space that I can use in a nice industrial estate. It’s £200 a month for the dedicated office and use of communal space all brand new. I will do other stuff at that office - went to the Rs owners club meet recently and see that as a (amongst others) good source of future stock. I’m known there so have some relationships a unit has big overheads to start with so that’s the plan. Thoughts? Share this post Link to post Share on other sites
Arfur Dealy 823 Posted April 10, 2019 17 hours ago, SteveG said: An update, looked at some units and spoke to my acct. Doing all the numbers and to start with I’m proposing - I have a 3 car garage at home and with a small rafter mod it let’s me get 3 x 2 lifts in meaning storage for 6. Just getting the structural engineer to put the building warrant in - keep the cars detailed, on trickle charge and secure at home, no sales from home - sell from an office space that I can use in a nice industrial estate. It’s £200 a month for the dedicated office and use of communal space all brand new. I will do other stuff at that office - went to the Rs owners club meet recently and see that as a (amongst others) good source of future stock. I’m known there so have some relationships a unit has big overheads to start with so that’s the plan. Thoughts? I think you are being wise by not jumping too big, too soon. A nice fresh office in a professional environment (I can already picture the video) intro to your business. A unique professional set up for unique professional buyers, now there’s a slogan.... Best of luck SteveG Share this post Link to post Share on other sites
It's me 615 Posted April 10, 2019 the other flip of the coin is non descript rented by the hour office seller selling high ticket car would you go looking for him in suite 72 a + then of course you have to know customer is there this might work if you can explain your business way of doing things to potential customers but obviously its still a bit of a back up before you get there scenario it doesnt matter if you are selling a micra or a mustang people like people to be there not hiding in some office with their feet up just sayin........ Share this post Link to post Share on other sites
JimmyGlen 13 Posted April 11, 2019 Hi Steve, welcome. I'm fairly new to the Forum, but we've been in the business for a long time. We are also based in the central belt. I've given thought to being a 'specialist' before, as it will give you a head start over other 'general' garages. My go-to marques would have been Porsche and Lexus (I'm passionate about both), but it was the supply of stock that seriously hindered this option. Buying from 'enthusiasts' and selling to 'enthusiast' means you'll be squeezed from both ends. Sellers looking for top dollar and buyers, comparing your car with others on a 'national' level. Not really issues you get with 'normal' car buyers. Although it can still happen. I'm a devout petrol head, but it rarely pays. Its good to have enthusiasm, it helps, but prep, price and reputation is more important than wether or not I'm into cars. Best of luck, it sounds like you have your team primed and ready to go! Stevie Share this post Link to post Share on other sites
Casper 272 Posted August 13, 2019 (edited) Never noticed this before Steve I'm in Scotland too would say do what you love if you don't try you will never know keep us all posted ... Edited August 13, 2019 by Casper Share this post Link to post Share on other sites
