Who is doing well?

[Mojo121 229]

7 hours ago, tradex said:

As I said in another post, the value is in the late gear.

 

..... the older cheapie gems all have gold bars in their boots and Faberge eggs in the gloveboxes. 

How late?

[tradegirl 112]

29 minutes ago, Rory RSC said:

Did you work to lower margin? Did you work harder? Did you work more hours? What did you do better back then?

 

 

Rory, well just glancing at the 2014-2015 file, sale prices were £2000-4000, predominantly around the £3000/3500 mark.

Now our prices are anything from £3500-7000.

And yes margins were small £500/600 (even less at the time of sale)

Stock profile has completely changed (Corsa/Astra/Focus/Fiesta) were probably 80% of our stock, now we stock all sorts and can't remember the last time we bought an Astra.

And I worked a lot harder because work dictated how hard I worked. Viewings were coming in endlessly to the point where I said we have to stop working at 7pm and Sundays because I have no life anymore. Now...I don't have that problem lol.

[Mojo121 229]

23 minutes ago, tradex said:

6 to 24 months from what I'm seeing. 

That's probably why a big car supermarket, already with a huge site, are opening another in Peterborough. I imagine once the banks are getting finance paid back they chuck it at you?

[XFS 70]

10 hours ago, tradex said:

As I said in another post, the value is in the late gear.

 

..... the older cheapie gems all have gold bars in their boots and Faberge eggs in the gloveboxes. 

I am aiming for the over 50's cash buyers who are comfortably off and probably voted for Brexit, and have bought stock which hopefully appeals to my target buyer in terms make/model/spec/milage and provenance. But we will see.

[Max Branning 149]

20 hours ago, tradegirl said:

You're right Max, end of year results are what matter, but there's a long time until the end of the year, and the last wage we took was the 16th May. Prior to that was the 5th of May. In 2014/2015 (and I know there's no sense looking back) we never had it this bad. We would sell 3 cars a day some weeks, and never less than a car a week as home traders, with fewer cars in stock and less money invested than we have now. I paid off £12k personal debts those first 2-3 years, and by 2016 I'd also saved £9k, as well as my holidays, etc.

I don't need to look at end of year takings to know I'm not in the same position as then. So I'm just a little worried/wondering if this job is what will buy me my house, or if I should be working a plan B, because as it currently stands, I'm broke and only living to work and pay work bills.

Having said that, I'm working on improving the business, making changes. Lord knows I have enough time on my hands. And if I'm worthy enough or cut out for it, I'll make it work and I'll be among those who do well enough in the high seasons, to be comfortable/unphased in the low seasons.

Was you doing things differently before, ie different stock profile, cheaper prices, different advertising platforms ?

Do you have a contingency fund for the bad times? this often gets overlooked but if you are 100% relying on the retail motor trade as an income then i think everyone should have one. Each person would probably come up with a different figure but personally i would want minimum 3 months living costs tucked away that only gets touched if i cannot draw a wage from the business on a downswing. When things pick up you can top up the contingency account and should do so regularly when you can to build it.

This helps to take the weight off so you can concentrate on the day job and still pay the bills ( in the short term )

Another option as a home trader is you have the luxury of being able to take on a job as well when things turn bad, still doing 2 or 3 on the side and building up a cash pile in the process.

 

 

[Row 71]

"Another option as a home trader is you have the luxury of being able to take on a job as well when things turn bad, still doing 2 or 3 on the side and building up a cash pile in the process"

 

 

I think the problem with this option is it would be to easy to loose concentration and end up in no mans land, stay with it and slug it out would be my advice, or throw the towel in.

[It's me 615]

its june in 30 hours and boy does trade slow down then unless you specialise in something wanted

like icecreams

[Tony911 79]

Keep thinking of buying a ice cream van

Edited May 29, 2019 by Tony911

[Grantlfc81 88]

We did 4 Saturday and 1 today so 5 this week but had 20 enquiries in last 2 days. Got 24 in stock now just bought 2 more from auction last week and hitting the auctions again next week.

[Rory RSC 596]

10 hours ago, Grantlfc81 said:

We did 4 Saturday and 1 today so 5 this week but had 20 enquiries in last 2 days. Got 24 in stock now just bought 2 more from auction last week and hitting the auctions again next week.

We have sold 22 cars in the last 7 days. Out of nowhere. Over 50% of the months sales on finance. Its like a switch has been turned back on the phones not stopped emails not stopped.

[NOACROSS 414]

6 minutes ago, Rory RSC said:

We have sold 22 cars in the last 7 days. Out of nowhere. Over 50% of the months sales on finance. Its like a switch has been turned back on the phones not stopped emails not stopped.

Wow! He’s back! Result, well done. 

[Tom 164]

2 hours ago, Rory RSC said:

We have sold 22 cars in the last 7 days. Out of nowhere. Over 50% of the months sales on finance. Its like a switch has been turned back on the phones not stopped emails not stopped.

That's good to hear 

[Blenheim Car Sales 111]

Well done Rory, well deserved !!

 

It only quiet then in the places with the wrong stock profile and the cheeky prices

[umesh 336]

2 hours ago, Rory RSC said:

We have sold 22 cars in the last 7 days. Out of nowhere. Over 50% of the months sales on finance. Its like a switch has been turned back on the phones not stopped emails not stopped.

Excellent Rory ! Bizarre how it goes similar here last week not the big numbers like you but a busy week all from no where!!   

[Rory RSC 596]

Still can't shift the old sticking stock with no money left in them either though. Bizarre game.

A lot of leads coming through facebook and sales from that platform too.

[Mark101 536]

3 minutes ago, Rory RSC said:

Still can't shift the old sticking stock with no money left in them either though. Bizarre game.

A lot of leads coming through facebook and sales from that platform too.

Do you boost all your posts Rory or is it your super popularity and organic sharing?

Edited May 30, 2019 by Mark101

[David Ayers 171]

3 hours ago, Rory RSC said:

We have sold 22 cars in the last 7 days. Out of nowhere. Over 50% of the months sales on finance. Its like a switch has been turned back on the phones not stopped emails not stopped.

I can't tell you how pleased I am for you Rory

Seriously I can't!!!

[Rory RSC 596]

1 hour ago, Mark101 said:

Do you boost all your posts Rory or is it your super popularity and organic sharing?

Boost / Target some I've never spent more than £100 in a month on facebook very rarely spending anything at all. Just keep hammering away at it. Then again took me 3/4  years of posting before I sold a single car directly attributable to it so you could say slow burn.

 

My stock sits well on facebook so I put the right cars on there something a bit dull etc I don't bother.

[Mark101 536]

Thanks Rory

[James01 21]

Exactly the same here, had an excellent month sales wise but seem to be selling new stock quickly and have a few we just can’t seem to shift! 

[Arfur Dealy 823]

5 hours ago, Rory RSC said:

Boost / Target some I've never spent more than £100 in a month on facebook very rarely spending anything at all. Just keep hammering away at it. Then again took me 3/4  years of posting before I sold a single car directly attributable to it so you could say slow burn.

 

My stock sits well on facebook so I put the right cars on there something a bit dull etc I don't bother.

Rory, I put a £200 banger on FB, eBay, AT on my website yesterday. I've had around 30 Messenger contacts through FB all of which asked the generic "is it still available" instead of calling, I get one email from eBay saying I'll give you £250 on Monday, I say yes as long as you can pay a £50 deposit today..... Deposit paid within the hour....

I'm not questioning FB, it's just that I really don't understand it at all.... 

[justina3 518]

I have done two from fb this week one was a young lad working in admiral insurance looking at a fox sent him all the details via fb he works silly hours so his mum came in and drove it loved it bought it simples.. the other was the usual messages details turned up as promised deal done.

 

[trade vet 702]

18 minutes ago, Arfur Dealy said:

Rory, I put a £200 banger on FB, eBay, AT on my website yesterday. I've had around 30 Messenger contacts through FB all of which asked the generic "is it still available" instead of calling, I get one email from eBay saying I'll give you £250 on Monday, I say yes as long as you can pay a £50 deposit today..... Deposit paid within the hour....

I'm not questioning FB, it's just that I really don't understand it at all.... 

Even I understand it AD,It costs ‘ nowt ‘ and it works,that is all I need to know.However,I have no idea how to access it and I don’t want to hear about the many timewasters it attracts.

Meanwhile AT ( who we have now ditched ) are up to £6 per share valuing them at £5.5B ! Full year results next week,profits up again I suspect when everyone else is going backwards....Enough is enough !

[tradegirl 112]

My like button has disappeared, but all of you who have had an upturn, that's great news!!

[Rory RSC 596]

1 hour ago, Arfur Dealy said:

Rory, I put a £200 banger on FB, eBay, AT on my website yesterday. I've had around 30 Messenger contacts through FB all of which asked the generic "is it still available" instead of calling, I get one email from eBay saying I'll give you £250 on Monday, I say yes as long as you can pay a £50 deposit today..... Deposit paid within the hour....

I'm not questioning FB, it's just that I really don't understand it at all.... 

Sold 2 bangers via market place last week both around 200k. 

Got loads of messages within minutes of them going live. I did what you do AD sent a copy and paste message with weblink saying read that, watch that and then call. 

 

Both sold within 2 hours and cleared offsite ignored the ones that wanted to chat and make offers.