How To Start A Used Cars Sales Business In Ghana
The used car business is very competitive, but there are opportunities for business people with a knowledge of cars and a way with people.
Making a profit in the used car business requires skills that including the ability to find quality cars at great prices and the ability to fix cars and make them more valuable.
Focusing on the skills you need to make a living in the used car business can help you be more more successful.
1. Locate dealer-only car auctions in your area.
These auctions are restricted to licensed car dealers.
This tends to keep prices lower and provides a good outlet for dealers looking to start their own lots.
A steady inventory of reliable used cars is important for those establishing a profitable used car business.
2. Establish a relationship with a good mechanic if you do not have someone on staff who is skilled at fixing cars.
An employee who is an experienced mechanic is the best strategy, but using the services of a third-party mechanic can work as well.
Making minor repairs to the used cars you buy at auctions or take in as trade-ins can provide you with a hefty profit when you sell.
3. Provide reasonable warranties on the cars you sell.
While it makes sense to sell low priced used cars on an “as-is” basis, providing a three- to six-month warranty on higher-priced cars helps establish trust and encourage word of mouth recommendations from satisfied customers.
4. Advertise your used car business in local media outlets, including newspapers, local Internet sites and radio stations.
If costs allow, a short spot on a local television station can also be quite valuable.
Contact your local talk radio station and ask about any public affairs and local business spotlights. These radio venues are an excellent way for new businesses to introduce themselves to the public.