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Thinking about buying and selling some mid-range specialty type cars. Focusing mainly on desirable 3-5 year old used cars (nothing real high dollar, but cars that are desirable on some level and should be easy to finance). Probably start small and do it on the side at first to test the waters, would start by trying to pick up cars from private sellers mainly.
I know in Texas to sell cars you have to have a physical location (aka a lot) to be considered a dealer. I have a buddy who has some shop space in South Lake that he paints out of, could I sub-lease some space through him to satisfy that requirement? For the most part I'd probably keep the cars in my garage until I grew enough to need my own space.
What kind of insurance and overhead would I be looking at short term (say a car or 2 a month), then moving forward if it works out?
Any huge concerns or pitfalls I might be ignoring? I have some capital saved up as well as a investor, I'd most likely start with a car or 2 and try to roll the profits immediately back into the business while I continue to work full time. I have worked as a tech, done paint/body work, and generally am good with mechanics, I also have a degree in business administration.
Trying to get out of the corporate world and do something on my own, seems like a decent opportunity for someone with my skill set.
Thanks.
I know in Texas to sell cars you have to have a physical location (aka a lot) to be considered a dealer. I have a buddy who has some shop space in South Lake that he paints out of, could I sub-lease some space through him to satisfy that requirement? For the most part I'd probably keep the cars in my garage until I grew enough to need my own space.
What kind of insurance and overhead would I be looking at short term (say a car or 2 a month), then moving forward if it works out?
Any huge concerns or pitfalls I might be ignoring? I have some capital saved up as well as a investor, I'd most likely start with a car or 2 and try to roll the profits immediately back into the business while I continue to work full time. I have worked as a tech, done paint/body work, and generally am good with mechanics, I also have a degree in business administration.
Trying to get out of the corporate world and do something on my own, seems like a decent opportunity for someone with my skill set.
Thanks.
.
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