What are the best resources to learn about starting a car dealership?

PurpleCharger
PurpleCharger

Currently in college and dad want's me to get a dealership license so he can become a dealer and make cash. His a auto mechanic and fix cars but I have no clue how it would affect me.

Currently going to college on aid and scholarships. What's the best way to learn about the effects of owning a business and how it effects everything in general?

Lunatick
Lunatick

Car dealerships effectively have monopolies by law and most are just passed down through the family. Good luck breaking in user.

iluvmen
iluvmen

You could run a used car buy here pay here lot. Poor people come in during tax season, almost pay for the car with their Gibs or neetbux down payment, then pay you $49 a week basically forever. Sooner or later they come up short and miss a payment. Then you get to take the car back, rinse and repeat.

Sharpcharm
Sharpcharm

How do they have a monopolies?
What if they mistreat it horribly?

On a side note, does anyone know if theirs some kind of business classes I should take?

Stark_Naked
Stark_Naked

Sleep well doggo

SniperWish
SniperWish

Try calling a car manufacture directly and ask about becoming a dealer.

JunkTop
JunkTop

Regulations on where and how dealerships can be opened.

BinaryMan
BinaryMan

I may have gotten my terms mixed up then, what if I just buy used cars and sell them on craigslist? Do I still need a dealer license?

Bidwell
Bidwell

You can email me if you want to get serious and we could talk but I'll give you some tips.

I've acted as GM for 2 small mom and pop dealers with 50-100 units. And once for a franchise auto group with 35 dealerships under its banner. Currently work as a sales manager for said same auto group at a different store.

Things you NEED to know. ASSUMING you have the start up capital already and or able to acquire it to start.

Most mom and pop shops started off as individual curbers in my area. Where at their high point had 15 or 20 cars on one or more of their properties that were eventually forced to get a dealers license by the watch dog committee in my Province. (In Canadaland btw)

So this is exactly how you should start. Selling cars as a salesperson is a grind. If you are unmotivated, lazy, non imaginative and lack ambition. You will drop out of this business within 2 months. Selling cars as an owner operator requires even more perseverance and determination.

You need to start off by first acquiring a few vehicles off of craigslist for as little as you can. Then seeing how fast you can turn them individually for as much as you can.

If you have the money now and don't feel like testing the waters in this manner. You can find out about dealer auctions open to the public. And go there and bid on cars being wholesaled or parted out by big boi dealers or auto brokers. If you start at this route you better hope you know what you are looking for and at. You need to know which vehicles are actually fast sellers and what can be snagged up for less and then refurbished and resold. If you purchase your cars in this manner you would still go about re-marketing them on craigslist until you get the ball rolling.

I can continue or answer any specific questions if there is interest OP.

Techpill
Techpill

There are no classes really that you can take on learning how to open, operate and manage a successful dealership. You can only learn by doing it yourself and getting guidance from those in the industry. What you can learn though is asset management, marketing, and salesmanship skills.

This is the ONLY multi billion dollar industry that individuals can rise to the top of their said organisations, making half a million dollars a year with no university or college educations.

I was 21 when I landed my first Sales Manager position in the auto industry. I was on a 80k a year contract with full benefits, demo vehicles and gas card. I only had a high school diploma at the time.

GoogleCat
GoogleCat

Ideally buy cars at auction so you pay less than they're worth. Buy cars that niggers and burrito niggers love (mustangs, chargers, SUVs, etc). They're not likely to do any visible damage, and if they fuck up the inner workings it's not that big of a deal, because you'll just sell it back to someone else.

Burnblaze
Burnblaze

Thank you' I'll look at doing this

How hard is it to fill out the forms? Getting a car and fixing it up to work shouldn't be problem but filling out the paperwork is what scares me.

Skullbone
Skullbone

Its easy. You just need money.

Dealer license here in Canada is almost 50,000

Then you need to buy or lease property that is acceptable to your city or state for selling cars.

Stock inventory

Detailers, mechanics, sales guys, and obviously purchasing.

You just need to go to city hall and ask for the paperwork and how the process works exactly in your state or country.

Harmless_Venom
Harmless_Venom

Alright thank you, I'll contact the local city hall.

Ignoramus
Ignoramus

Dads cousin did exactly what u are talking about.

Need llc, at least a gravel lot, office, public shitter.

Got to dealer ownly auctions and bid on cars. Haul or drive a few home. Fix and resell. Huge profit potential but times can be slow. People can and will do tricks to get their car to sell like its fine then the tranny shits out so budget some for this.

Follow market trends if u can.

Dont be affraid to buy tons of parts cars.

Pay some autistic high school kid to detail them all.

Make that money!

Garbage Can Lid
Garbage Can Lid

This. Bonus points for gps wired to all cars. They 1 day late u push a button from home. Car gradually descends to limp mode at like max 30mph. Wont start again till u activate it. Pay up and charge late fees or go hop in it and drive it back home. Resell.

I imagine it would be a good idea to peg where everyone lives so u can kill it at their house or near u. If at their house or popular walmart ir something they wont be abandoned on highway

Soft_member
Soft_member

Nah just get some personal finance books. Write a business plan and find a descent cpa for taxes.

Also a lot of people that cant afford a normal bank loan are tweaker scum and will fuck them uo or crash or the cops will tear it apart. Just gotta budget for it or get insurance

haveahappyday
haveahappyday

Varies by state. Kansas here. 12 times a year.

Bit people jump title a lot. No me. I dont wanna get jailed

idontknow
idontknow

Bruh yessssss. Please provide short or if u feel like long list of shit that sells good. Burgerland here but i know a lot of truckers thst would cut me buddy deal to haul 2 or 3 cars back.

kizzmybutt
kizzmybutt

Fuck. Why not start your own user?

AwesomeTucker
AwesomeTucker

acquire dealers license

buy cars at auction

repair and install GPS

"buy here pay here" for huge margins

I see a lot mechanic shops around here doing this with 5-10 cars in their parking lot.