In many respects, setting up a successful trade motor business has never been more difficult. As Brexit looms nearer and nearer, the auto sector is expected to take the brunt of much of the fallout. After all, only a few days ago it was reported that car investment had halved and has put firms on ‘red alert’, so a turbulent time can be expected at the moment wherever cars are concerned.
Still, while success isn’t guaranteed, that doesn’t mean it’s unattainable. With a few tips and tricks, you’ll have a successful trade motor business in no time. If you’re smart and resourceful, things will go well.
Consequently, here’s how to set up your very own trade motor business.
The Admin Work
When people set up a business, they often think of the usual things alone; tools, staff, premises, equipment, etc. While these things are needed and will be covered, they often arrive at the end of a business persons itinerary. This is because before anything can be done here, insurance is required. You can’t move an inch without it, so it’s important to take insurance seriously.
For everything you want, there’s likely a mandatory or optional insurance tariff to go with it. For example, you’ll need motor trade insurance to protect your vehicles, people and business, so make sure that you have all the legal documentation required to run a sustainable firm. If you run your business illegally, you can face business closure, fines and even prison in some cases. Research what insurance you absolutely must have. It’s better to be safe than sorry.
Of course, when it comes to setting up a business, some rules are the same across the board. This is especially true in terms of location. If your trade motor business is in the middle of nowhere, chances are customers won’t be able to find you. It’s isolated, it’s unappealing, and you’re out of the town and the city – perhaps passers-by will assume you have something to hide, too?
Consequently, it’s important that you situate your trade motor business in the hustle and bustle of towns and cities. Here, you’ll find most of the opportunities and customers that are available in the industry right now. Your firm needs to be on show and out there for all to see, so try and stay central to where things are busiest. You’ll look proud, legitimate and keen to face off against big name competitors, rather than skulking away on a loan country road somewhere.
The Right Staff
Unfortunately, the auto industry has a reputation for aggressive sales tactics and salesman who have been bitterly dubbed ‘dodgy dealers’ by the buying public. It’s important that you do everything you can to distance your trade motor business from these active stereotypes at all costs. It needs to be a reliable firm, and to do that, you need reliable workers.
Make sure that when you’re hiring, you’re hiring the right people. You don’t want to take on workers who will take you one step forward, and two steps back. Everything needs to be formal and legit if you’re going to make it work, so don’t be charmed by overly confident speakers. You don’t want tricksters and swindlers, you want bona fide business people who know their figures, know how cars work, and ultimately be skilled and qualified for the role at hand.