hello to all,
I am a new to the business independent dealer and I am looking any help or tips on how to run a successful dealership. I really want to focus on buy here pay here, just because I've heard that is how you can maximize profits. But I am unsure we are able to go down that road with the budget we have. I am considering selling our contracts, but again, I am unsure if that is the best route to take. We currently try to focus on cars between 5k-13k, but the issue we are having is finding quality inventory. Being inexperienced at buying at auctions, I've unfortunately purchased some cars with some major issues. And again I'm unsure of weather to cut our losses and take them back to the auction, or ride it out, and maybe break even. Also, I feels as though I am being bombarded by companies that swear we need them to be successful, and everyone just wants your money, and again I'm unsure of how true that is.
Even though all that sounds super depressing, we really are super excited to be in this business, and are enjoying it so far. I know its a long and bumpy road ahead but we are grateful to be here.
Yea so, if anyone has anything for me at all, it would be greatly appreciated.
