Car Sales Business Plan

You’ll need a general distinguishing number, which identifies your dealership in the eyes of the state.You must meet several stringent requirements to receive this number.

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Call vehicle owners who have “For Sale” classified ads in local newspapers, vehicle trader publications and online trader websites.

Travel to local or regional vehicle auctions to purchase vehicles in good or better condition.

Finally, you’ll need to strictly adhere to state Lemon Laws and deceptive advertising regulations.

In Texas, for example, vehicle dealer licensing falls under the purview of the Texas Department of Transportation.

Other licenses and permits may be required as well.

Sales tax must be collected on all vehicles you sell, and you must remit that tax according to your state-determined payment schedule.Finally, hang signage that conforms to dealership requirements and announces that you’re ready to accept vehicles for sale.How do you plan to attract new customers for your automobile business? I had a client who started a car sales business two years ago and they are out of business now.They had a big space leased, approximately 500m2, most undercover, and approximately 30 vehicles, most late model second hand.Select a visible location with easy access from main roads.Ensure that your site has plenty of parking for your vehicle inventory as well as your customers’ vehicles.There are several options for financing, including loans and seeking investors.Before pursuing financing, it's important to make sure that your own finances are in good order.Owning even a small used car dealership entails much more than just putting some cars on a lot and waiting for customers to come along.It requires knowledge of the cars, expertise in their features and differences, knowing competitive prices of similar models and how to arrange vehicle financing.