Well im thinking about taking a chance with my savings and opening my own business... I know my cars and so far Ive only made a loss on 2 of the 11 cars Ive owned in the past so Im thinking a car trader is the way forward... Buy cars around the 5-6k give them a service and a good valet and sell them on...
Now my questions are:
Is it a good business to get into??? Can you make a living of it???
What exactly do you need to make a start??? Trade plates, insurance, trailer and tow car??? Ive done a bit of weddesign before so I can wip up a webite no problem...
Do I have to register the business and the name and if so where???
Is it worth getting a forecourt??? or better to just keep them at home?
Where do you get the cars from??? I know the usual spots like auctions, ebay, autotrader and pistonheads but what about the less known places ??? any police auctions, dealer PX clearouts, trade only auctions???
Do i have to provide warranty for the cars or can i use AS-IS basis??? Will that keep me covered if things go wrong??? Is it better to provide warranty???
What sort of profits should I be expecting ???
Ive got a million things going through my head at the moment and cand stop thinking about it....
Any help or advice positive or negative is gratefully received, Im about to risk a good 10 years of savings so Id like to have all things covered.
Thank you