HOW HARD IS IT TO START A CAR DEALERSHIP?

Рет қаралды 1,616

Күн бұрын

I'm on a mission to become the go-to car dealer for first time EV buyers - but there's some hurdles along the way!
Modern Heroes Car Sales - www.modernheroescars.co.uk
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00:00 Intro
02:50 Company Formation
04:56 Banking Woes
10:05 Warranty or No Warranty?
13:33 Payments
17:11 Buying Platforms
20:10 Enough already, sell some bloody cars!
24:53 Outro

Пікірлер: 32

@ModernHeroes 9 күн бұрын

This is quite lengthy - you might well want to use the chapters to help break it up! 00:00 Intro 02:50 Company Formation 04:56 Banking Woes 10:05 Warranty or No Warranty? 13:33 Payments 17:11 Buying Platforms 20:10 Enough already, sell some bloody cars! 24:53 Outro

@EverydayLife621 8 күн бұрын

Well done on this initiative, sounds a very good business plan, we’re nearly 2 years into an EV (MG4), and would never go back, as the cost savings on fuel alone far outweigh any negatives - so an EV 5-10K mark is an excellent buy, as either a 1st or 2nd car, depending in annual milage.

@GoGreenAutos 8 күн бұрын

Motorway fees are very high for what they are actually offering. They charge almost as much as the auctions yet don't appraise or handle the car. The general public will happily sell a vehicle with hidden issues to a motor trader, yet will be straight down to citizen advice if someone did the same to them!

@bathfun 9 күн бұрын

Good luck, I think it is a cracking idea

@davidrooney6173 8 күн бұрын

Good for you. Best of luck with it

@gavinmoore8024 8 күн бұрын

Great stuff! Good luck!

@andrewdyson4255 8 күн бұрын

Good look with this venture

@shedworks3196 9 күн бұрын

Great video highs and lows but good luck to you, nothing ventured 🥴

@benday1218 8 күн бұрын

Nice summary, thanks.

@davidpiper3652 9 күн бұрын

You are mad! But in a good way. Good luck.

@stewartross1233 9 күн бұрын

Good luck with the business going forward!

@spikerusty1710 9 күн бұрын

just love this, keep up the great work

@ModernHeroes 9 күн бұрын

Thank you! I have a couple of really nice Zoes in / coming in, might well suit your needs although they’re perhaps a little more than you were looking to spend.

@grahambate1567 9 күн бұрын

Thank you, very interesting, I had a similar idea to sell evs, as there is no local knowledge of evs in my area Totally agree with problems setting up a bank account for a limited company All the best for your new enterprise

@stevenbarrett7648 9 күн бұрын

Banks are mainly living in the past still believing they can charge whatever they want and take their time to actually do the work you are paying them to do. I spent many years in business having to deal with these sort of institutions, just an annoyance

@leonvenn2478 9 күн бұрын

I started my car sales business about 3 years ago and have found it hard to grow the business, I just can’t get the funding or sell them quick enough

@ModernHeroes 9 күн бұрын

Yeah i can already see how funding can become a pretty big constraint. That being said i see some with massive pitches loaded with 000,000s of stocking finance and that gives me the fear too

@briangriffiths114 9 күн бұрын

This reminds me of the early days of the Chops Garage channel, where he bought mostly from BCA and used Warrantywise. Very interested to see how this venture goes, and I presume that you have room on the driveway for the stock rather than have to rent premises, which is crippling? Hope all goes well and will enjoy this new thread of videos.

@ModernHeroes 9 күн бұрын

I kinda already have premises, which I’ve been renting for a number of years for various reasons, that I’ll be repurposing for this.

@rayro999 6 күн бұрын

Didn't it used to be £12 to register a company? In my little Midlands Town, a 'local businessman' (using the term very loosely) registered 600 Temporary Employment Agency companies at one adress in the town between October and December 2023. Many directly under Filipino company names and directors and others renamed and then transferred to Filipino persons of significant control. Seems very much some kind of tax/employment scam. Most of these companies will be folded withing 2 years, some already have been. There is little evidence that Companies House makes any checks whatsoever on any new registered companies so charging £50 is another bit of a scam by Companies House.

@ModernHeroes 6 күн бұрын

Yeah it was - and the increase in the fee was supposed to be used to help combat stuff like this. There’s a guy on Twitter (can’t remember the name but easily found by searching for companies house) who tracks this kind of weird registration activity, lot of it around.

@gtm559 9 күн бұрын

The bad thing about dealerships is their dishonesty. They lie for the profit. I wish you success and a lot of sales

@ModernHeroes 8 күн бұрын

Whilst I’m sure there are a small number where that’s true I do think it’s an overplayed stereotype. Dealers that lie and rip people off don’t stick around very long.

@nigelm7777 9 күн бұрын

I am not sure motorway is all that good anyway, i was selling via them, winning bid from a dealer was high, when their collection person came they wanted over £900 off for some minor stonechips on the screen. They also had a crappy clause in the buying contract, supposedly all their dealers must be well established and buying many cars via them.

@ModernHeroes 9 күн бұрын

Windscreens are a massive pain to be fair - they don’t cost £900 to replace though.

@yammy613 6 күн бұрын

I really like the content you put out but the audio quality has really gone downhill. Are you doing something different?

@leonvenn2478 9 күн бұрын

Mettle deal with car dealers

@mike77cos 9 күн бұрын

I'm doing a similar thing in Cornwall, I'm slightly worried because i got an account with Monzo, i told them i was in used vehicle sales and they just opened the account.

@ModernHeroes 9 күн бұрын

Odd - definitely listed under “industries we can’t support, no matter your business type” on their website