Other licenses and permits may be required as well.Sales tax must be collected on all vehicles you sell, and you must remit that tax according to your state-determined payment schedule.
Finally, hang signage that conforms to dealership requirements and announces that you’re ready to accept vehicles for sale.
How do you plan to attract new customers for your automobile business?
You may wish to hire a marketing professional to work for your company or contract with an outside firm.
Drafting a brand logo is an essential first step in establishing your business.
A quality business plan can help you secure the financing that you need.
Unless you already have the money necessary to get your business started, you'll have to seek financing.In addition, by running financial projections, you can determine whether your revenue model is a feasible one.You should also be aware that investors and lenders will want to see a business plan before deciding to work with you.Before you commit to a lease, or make improvements to the property, consult with your local zoning office to ensure that you can legally establish your business at that location.Contact your state Motor Vehicle Administration to obtain requirements for a vehicle dealer’s license.Select a visible location with easy access from main roads.Ensure that your site has plenty of parking for your vehicle inventory as well as your customers’ vehicles.Although automobile sales experience is desirable, salespeople who have sold other big-ticket items, such as boats or expensive jewelry, may also be prospects.Each salesperson must contact your state’s Motor Vehicle Administration for licensing requirements.Call vehicle owners who have “For Sale” classified ads in local newspapers, vehicle trader publications and online trader websites.Travel to local or regional vehicle auctions to purchase vehicles in good or better condition.