Pitched a idea yesterday!!!

[Detailingtime]

Have a friend who loves cars and i have pitched a idea his way He is wealthy and likes idea.We are looking at starting a indoor car lot where each vehicle would be kept to a showroom shine all full corrections.I would detail each vehicle for $800+ commision on eash sale and i would setup appointments and show cars.It will be small boutique set up 5-8 cars kept in imacculant condition indoors. heavily marketed with medium mile vehicles such as BMW,Classics,His passion Vettes,Each vehicle will get new rims, nice rims not blinged out crazy and a full correction detail.Basically if you lined up same brand and year model simiiar miles from 10 different dealerships ours would stand out that is the goal and break even on upgrades but help move autos faster.

[ihaveacamaro]

sounds like a lot of risk, but the reward may be worth it.

one question: How do you know there is a market for this type of work?

[VP Mark]

You live in a large market, this could work, but do your research! This will not be a get rich quick scheme. You are going to have to do a LOT of building for a high end boutique business like this.

[Detailingtime]

Well there was very successful auto indoor lot that did very well.I worked for him for about a year but the details were for $450 he paid me when the car sold and i did pretty well til he got really sick.These were ok cars with not alot of marketing behind them.So took that concept and have been reworking it for a year and the oppurtunity presented it self to pitch it.

[Detailingtime]

VP you are right ALOT of work and TIME.

[ihaveacamaro]

Well there was very successful auto indoor lot that did very well.I worked for him for about a year but the details were for $450 he paid me when the car sold and i did pretty well til he got really sick.These were ok cars with not alot of marketing behind them.So took that concept and have been reworking it for a year and the oppurtunity presented it self to pitch it.

As VP Mark said, Dallas is huge and has a lot of wealthy people, it could work. But what will you do if it doesn't? Just make sure to always have a backup route, especially with high risk type things :props:

Good luck!

[Detailingtime]

My only concern is the small # of vehicles we will have but that is his tolerance level for now he said.Remember this is the idea stage so we will see.

[Detailingtime]

He has alot of connections and is willing to teach me what he knows as a successful businessman to make this go.Couldnt even sleep last night head full of ideas lol.

[Pureshine]

Just make sure you get a lawyer to look at the paper work. Going into business with a friend can turn ugly real fast just protect your self. Hope it all works out for you.

[thebamboo23]

All i see is $$$$$$$$,$$$$$$$,$$$$$$$$$$$$$$,$$$$$$$$$$$$$$.$$

but goodluck!

[VP Mark]

Just make sure you get a lawyer to look at the paper work. Going into business with a friend can turn ugly real fast just protect your self. Hope it all works out for you.

This is good advice. Even though you are friends, cover your self legally. Things can change, people can change, so make sure your are protected to the level you need to be.

[Fishincricket]

Just remember, auto sales is JUST as easy as it looks. Good luck.

[FUNX650]

:idea:

Have your friend join-up here at AGO!!

(I'd bet he'd enjoy hearing this forum's members input firsthand.)


:)

Bob

[rustytruck]

In the used car business volume is the name of the game. If a car is sitting on the lot(inside or outside) it is tying up money. Good used car lot owners are buying cars for people and selling them before they even make it to the lot. Good luck with your plan I hope you can make it work.

[arjo.reich]

My advice...

If the following word begins with a vowel or a vowel sound because of a silent consonant, such as the word herb, then use "an" instead of "a".

Other than that, I would suggest researching and interviewing other boutique dealerships for advice. Make sure you actually have a set of questions prepared in advance, however. Create lists if what you love/hate about their websites.

You need to know how much they pay for their advertising (online, local, blackbook daily auction price subscriptions for trade ins, etc.) as well as budgets for carfax memberships, insurance, etc.

And the most important question I could think of, since a boutique shop will have different answers than b-lots & major dealerships... What is their daily loss value (how much they lose or are willing to mark down the car) for every day it doesn't sell. This is vital because knowing that plays into every deal or decision to trade it with another lot.

After that you need to start networking - do you already know what shop your going to use for minor fixes to get it ready for sale? And make sure they're willing work out a vendor trade agreement with you for rates. You'll want to find a foreign auto shop, a body shop and quality guy who does tinting and accessories.

You also need to get friendly with other boutiques within the 500-1000 mile radius to trade vehicles. You'll probably not get the best trades on the first couple deals but whatever you do, don't burn those bridges. It's a backstabbing industry but you can't afford enemies in this industry.

Oh and learning how to actually sell would be useful to... But when you have all that information to write up a business on, don't forget the bits about "an" or "a".

The one near me is called "Global MotorSports"

Lucky Joe,
Grammar NotSee

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