Starting a new venture of selling used cars looking for advice?

Jas Aulakh
Hello everyone my name is Jas and I'm looking to learn from members on here who can guide me by sharing their experiences. I'm starting out of a 1700 sq. ft unit where I can park about 5 cars inside. I only have 50k to start with and would like to stay in this size unit for about couple of years just to be on a safe side. I have few questions that I will list below here. 1) Most importantly how to advertise my business? 2) How to create leads? 3) What software to use for sales,receipts etc.? 4) How to start financing cars? 5) Any other advice you would like to teach me please message me? I'm here to learn and if this is not the right way to ask for help I would like to apologize in advance.
Lauren Moses
Jas, First off, Welcome. You will find tons of advice from all kinds of people that have been there done that. Starting small is always best so you don't get over your head. About the only thing that I can really help out with on your questions is how to advertise and your leads. Advertising can be as little as a facebook page on up to billboards, commercials, etc. And it can get very costly. Business cards are a must and can be your best advertising sometimes. How often can you remember everything off a billboard to call someone? Order business cards, leave a small stack at places the kinds of people you want to draw in stop. Doughnut shops, small independent stores, etc usually don't mind if you ask first. Word of mouth is always free so broad cast to your family and friends and get them to spread the word. Print flyers as well and hang them up around your town where you are allowed. As for leads, once you get established some and have a decent sized inventory, look into listing your vehicles on websites like cars.com, autotrader, edmunds, etc. We use Cars.com and have had some good success with them. As for the software and financing, look on the vendor ratings tab up at the top of the page and look under the categories that you need. May kind of give you an idea of who to get in touch with to find what will best suit your needs. I know it's long but hope it helps. If you need anything feel free to message me. I'll help in any way that I can.
Vincent R
cars.com will be great start. When someone requests info about a car, their contact information will be sent to you in either a lead management system/email or CRM. As far as financing, I'd recommend that you look into getting connected with local credit unions in your area.
Dennis Wagner
Hello Jas, I started out in a similar way so I can help point you in the right direction. 1) Most importantly how to advertise my business? You will want to start out with a nice website and Facebook business page. If you don't already have a website you can build your own for free in about an hour. -> www.webs.com 2) How to create leads? You will create leads via your Facebook business page, your website and you will want to create a free, Twitter account, YouTube Channel and Google+ page. You can do walk around videos of your inventory and post them to YouTube in about 15 minutes. Then share the videos all over social media. You can read my blog on this on my website. -> www.thedenniswagner.com 3) What software to use for sales,receipts etc.? I would suggest ACS as your sales and accounting system. It is Affordable Computer Systems. Look them up and contact them. Very affordable and it has all the book values built into the system. It is the best system available for a new dealership. 4) How to start financing cars? Visit some of your local finance companies and credit unions to start with. They will be more than happy to help you finance some of your vehicles for customers. 5) Any other advice you would like to teach me please message me? Be smart with your money and take it slow. Every decision must be a good business decision. The first 6 months is the hardest, but you can do it. Come join my Facebook club for car people. There are people from all areas of the car business who will be glad to help. Follow the link https://www.facebook.com/groups/allthingsautomotive/
Jas Aulakh
Thank you guys for giving me your feedback on this. If i can be help in any way please let me know.
Dennis Wagner
Jas, I got you set up on All Things Automotive on FB. That group has some of the best and brightest in the automotive sales industry. Feel free to ask questions there.

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