As with any business, starting a motor trade business doesn’t happen overnight, it takes planning, work and dedication to get it going and ensure that you have a profitable business moving forward.
Whether you are opening a full time or part time business there are some things you need to take into consideration.
Register Your Company
The first step is a company, you need to come up with a name that not only says what you do, but is catchy and memorable. Always ensure any company name you choose is available online before you register.
These days all businesses need a website, you can do searches online to ensure the name you have chosen is available as a domain name, this way you aren’t left calling your website something that doesn’t relate to your business. For example, if the name you have chosen is Happy Motors, you need to ensure happymotors.co.uk or happymotors.com is available, there is no point calling your business 123motors.co.uk, customers won’t put the two together.
Find a Business Premises
Next you will need to find a property where you can set up shop. If you are selling vehicles you may want something with a parking area or showroom, where you can showcase your vehicles for sale to passing trade. Try and choose a property that is easily accessible and is near the main road.
For mechanical workshops you need to ensure the property is large enough to store vehicles overnight if necessary and that is easy to find, remember a customer that cannot find you will just move on to the next workshop.
Get quotes for your insurance cover, ensure that you get a few quotes where you can compare them. Don’t miss this step, it’s not worth it in the long run. You will need cover for your property, your tools, your vehicles and you to drive customer vehicles.
Depending on the size of business you are opening will determine how many staff you require. Advertise online, it’s cheaper and you can reach a wider audience. If you are not very good with figures, this is the best time to find an affordable bookkeeper, getting everything right from the start will ensure smooth sailing.
A motor trade business can be profitable if you concentrate on advertising and outstanding customer service. As your business grows you can start enjoying repeat business and referrals, enabling you to hire more staff and enjoy long term success.