Where Do I gain the knowledge to Run a successful used car dealership?

I am currently a college student and I thinking of starting a car dealership after I graduate, but I have Completely NO Idea how to gain the knowledge to do so effectively. 1 Where would I learn stuff like how to negotiate good deals with auctions and customers, & general biz operations etc. 2 Also, how much do you think it would cost to start a used dealership? To all the dealership owners / employees / knowledgeable people what advice would you give me? Thanks!

Responses:

The best way is to learn the ropes by working in a used car dealership
Nobody would GIVE this knowledge to you. This is "insider" information. Even if somebody wrote a book and handed to you, you would not know how to use the knowledge. Like so many things in this world, you only really learn by doing. Get a job at a dealership and work your way up. If you think they will take too long, then you are not willing to pay your dues and you will not succeed. College education mean almost nothing when it comes to running a business. Not even a business degree mean anything when it comes to RUNNING a real business. For a used car dealership you still need tons of start up cash. And these days you have tons of state laws warantee laws, environmental laws, etc. that you have to contend with. Keep your eyes open to business for sale on the internet. You will get some idea on what it cost to buy one. Good Luck
You need to get a basic understanding of business management first. Not sure what your going to get your degree in. But that would be a good place to start. Next would be to get a sales job at a dealership and learn how things work. Sales, Loans, showing and tracking cars. interaction of customers, the service department, inventory management. From there you will have the opportunity to go to some of the auctions and learn how they work as well. from there you would want to hope you have some good credit or someone who is willing to take a risk on you. It might be best to start off as a 2nd hand auto dealer before moving in to the New car business. as getting access to new cars takes a lot of over head. After about 20 to 25 years, you should be and have a successful dealership
quick answer. get a job at a dealership as a saleman. you will learn the basics and some of the inside info. maybe a few basic business cl es. the car biz is hit or miss. good luck

Tags: access, insider, years, cost, warantee

Follow this dicussion..

Related Images:

Knowledge Base

I got a car insurance quote from State Farm that?

is double that of the quotes i got online from brokers. is it better to go with state farm or one of the cut rate insurance companies? i mean in the event of an accident and getting paid. i also rent a lot of cars and will be using the (car rental miami)

When a car insurance company sues will I get back my deduction?

my vehicle was totalled by the other driver. they did not have car insurance and my insurance company is going to pursue them. how much will my insurance company sue them for and will i get back my deduction from them suing? no police were called to the scene can (cheap car)

What is the best car insurance company, who will not judge on speeding fines and convicions?

i have contacted many car insurance companys, racv, aami, budget direct, and none will give me insurance, because i have a bad recored with speeding, lost my licence a few times and have been convicted of a crime. does anyone know any company that will help me?. that company doesn't (hybrid car)

Related Images:

Knowledge Base: Used Cars

Used car dealership asks me to sign a paper waiving all my rights to sue them. OK?

a used car dealership asked me to sign a paper waiving all my rights to sue them. is this standard practice in the usa? i obviously told them i would not sign. i would not think this is standard practice, i'd never sign away my rights in a business transaction. (sell used car)

Is interest paid on a used car loan tax deductable?

i bought a used car in 2008 and have not been putting the interest i have paid on the car loan on my taxes. can i put the paid interest as a deduction? i live in wisconsin if that matters. only if you use the car for business. only mortgage (used cars online)

I bought a car from a used car dealership?

i bought a vehicle from a used car dealership about a month and a half ago here in s. florida, and i have nothing but problems with it. everytime they fix one, another one comes, and i wanna know what my rights are if i want to turn this vehicle (sell used car)

Can an individual work for or "affiliate" with a used car dealership?

could you potentially work for a licensed used car dealership but still use your own capital to purchase cars and give them a percent of the profits? i wanted to buy cars at auction and sell them myself but i want to be in compliance with the law and i (sell used car)

What is an average interest rate on a used car loan with less than average credit?

i am looking at financing 10k on a used car at my local dealer after a $2000 down and a $2500 trade - in, they are offering me a 54 month loan at 14% because of my credit rating which is 608. i understand that my credit is an issue (used car loan)

Related Images:

Knowledge Base: Used Car Dealership

What would you think if you saw this at a used car dealership?

what would you think if you went to a used car dealership and on the paperwork attached to the vehicles, they list whether or not the car had been driven by a woman? i saw this recently and i thought it was a little odd. what do you think? why (used car dealership)

i recently purchased a used car and the dealership ruined the paint, How do I get them to fix it?

i bought a 06 black car from a popular car dealership. i paid for the car on a friday and went back to pick it up the next day. the detail shop at the dealership burned the paint off on the back driverside panel around the antenna and the gas (used car dealership)

Would a used car dealership offer a warranty on a car that's been in an accident?

i do not think the car i got has been in an accident. i looked at the car from top to bottom while at the dealership looking for any defects and did not find anything, but i am still feeling paranoid. i did not do too much research on the (used car dealership)

I am starting a used car dealership. What would it take for you to buy a car from me over anyone else?

i am going to start a used car dealership with a friend. we are looking before we open the doors to find out how to get you to buy from us. lower price, warranty on your car etc. please help me get you to buy from me! thanks for your (used car dealership)

How to start a driving school and used car dealership in Virginia?

hi, i am think about starting a driving school business or used car dealership business in virginia. does anyone know where i can find requirements and regulations regarding to these two business? thanks in advance for your help!. hello, virginia has an excellent small business website: sba. gov / va (used car dealership)