Setting up as a used car trader - bottom of the ladder!

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I'd emphasise that the keys to success are people focus, quality transactions / admin, an ability to source at the right price, an ability to close sales, and an ability to minimise losses.

Simple routine minor margin turnover is all very well, but if you get defrauded by customers, suppliers, or contacts, you can undo weeks worth of work.

Likewise selling stock in the summer is a doddle. Getting someone to buy during November to February is more of a challenge. (And Just forget the month of December). Bear that in mind when looking at running your overheads 12 months a year.

Personally, I'd counsel making a little money "on the side" when doing your day job (properly). See how it goes, and move forward once you've worked out that it really is possible. Using someone's else's nice car is an attraction, but, honestly, it's all about a steady of supply of things that can be sold with a bit of a margin day after day after day. And, as I've suggested, don't take your mind off the day job while doing it - else you could lose that.

For elimination of doubt, working for someone else may be hard, but selling is MUCH harder, which is why it pays so well. "Most fail."


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