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How to Start a Used Car Business
A used car business makes profits by selling used cars. But an extremely important part of this process is the supply chain - buying used cars from previous owners at a price low enough that it can be marked up. To market and operate your used car business, you need to attract and work with buyers as well as sellers, and think of both as customer groups.
Used Car Buyers
The fact that car buyers are your customers is easy to see for a car dealership. Buyers will be looking to save money from the cost of purchasing a new car, while giving up as little as possible of the assurances of safety and performance that generally come with a new car purchase. They might be concerned with appearance or they might not not. Learn about what the customer target group or groups you’d like to serve value in used cars. Then create your own purchase and marketing strategies around those values.
Used Car Sellers
To be a successful used car business, you have to insure a steady supply of products, and, like any used product sales business, this requires making consumers into your suppliers. The same broad marketing techniques that bring in consumers as customers can work to bring them in as sellers. Promote the services you offer, the efficiency of your car buying process, and the ease of mind they will have from not having to go through the sales process directly to end consumers.
Working with sellers should be considered customer service just the same as working with buyers, and the employees making these transactions should be held to your pre-determined standards of service quality. Happy sellers will create word of mouth support for your business, just as buyers do. This referral business can keep your costs of marketing down, allowing you to earn greater profits in the margin between your car purchases and sales going forward.
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