First off, just wanted to formally introduce myself and give a little bit of a background as to how I became a dealer. My name is Murad and I am 28 years old residing in NYC. I've operated my family's business of automotive repair for the past 13 years (yep, since I was a teenager I got into the line). The family business of automotive repair has been with us since 1982 so I wanted to keep the legacy (so to say) going. About 1 year ago I wanted to add another business to the automotive repair and decided to open a Used car lot on the same premise. What encouraged me to do so were the numerous customers that just got fed up of spending money on their old vehicle(s) and decided it was time for something more reliable and then would leave and buy a second hand vehicle. What would tick me off initially about other dealers was the "miscellanous fees" and fee's that I felt should not be there. Just like my repair business, I wanted to get people away from the typical stereotype that all mechanics/dealers are crooks. By all means, I'm not a saint but I just wanted to go the extra mile for the customer, yes even the difficult ones. It took a while but it finally clicked that I should invest in my current car lot.
As it sits today I can most definitely say I accomplished and learned a lot in my first year. I think the most important factor was building a relationship with financing companies and today I have 4 prime banks and 1 subprime bank. Personally, I think I did well for someone that normally keeps up to 10 vehicles on the lot but this year I've turned my focus to bigger things along with increased my responsibility (my business partner just left me). I find myself wanting to understand the initial factors of 1). finding the right vehicle 2). Advertising efficiently. I currently (like most) deal with Manheim and do not carry a big budget. I really do not know how/where to advertise because of my limit of budget. I normally advertise on social media and craigslist with over 90% of my customers being those that are fed up of their previous vehicles on the repair side.
I really need the experienced dealers to chime in and give me a few words of advice as to what drove your success? Advertisement? How do you know what is right to purchase from Manheim? I am focused on doubling the business this year but just feel that New car dealers make this tough with minimum down and low-interest rates and since I am now doing this alone I will have other expenses such as transportation of vehicle's (which my ex-business partner and I initially did ourselves). I am a One-man team, meaning, I am the sales-man, finance and delivery person. I do it all myself including customer-service for my repair facility. If you can kindly spare a few minutes to share advise, I would appreciate it! Thanks!
It sounds like you need something to help you determine which vehicles move the fastest in your market, and then be able to source them directly from one source, appraise and plan out what you would like to list them for, I would love to help you out during a demo discuss exactly to overcome these obstacles. Call me anytime if you even just want to discuss. I have worked with SEVERAL small dealers that now do a much higher volume. It won't happen overnight, but I would love to just talk you through some tips and tricks I have learned recently that cost NOTHING!! my cell number is 816.301.2306 thanks Angela