Hey everyone. I've been wrestling with a new business here in Canada. In the last 3 or 4 months I've been buying and selling vehicles with the intention to wholesale in volume. I'll be honest, I didn't know a lot about cars before this but I always had an interest. I've been going at it everyday so I've built some business connections (autobody, mechanics, etc...) and I've learnt a lot about cars relative to where I started. I am now focusing on learning about trucks and SUVs to possibly export them into the USA. I've met a couple of guys from the States that come to Canada almost weekly to buy vehicles up here because they are cheaper buy about 30% in Canada. This is a new market due to the fall in the CAD in comparison to USD. I feel like I can move much much faster in this market with a little bit of help. Any sort of advice or help would help me a lot. I'm open to anything at the moment. If anyone has experience in automotive wholesaling or even retail I'd love to get in touch!
Reverse engineer the process, I would start figuring out who you're selling to and all the issues that can get in the way of selling to them. Such as regulatory issues, I worked for BMW for 15 years I remember having to code cars going to Canada differently to the ones here in the United States. So first figure out everything that can get in your way of scaling out and in your case a lot of it is going to be regulatory. After that pricing and attention. The automotive industry is plagued with discount culture, so pricing is a huge issue, next is just marketing and delivering on everything you presented as a value.
Call me so we can talk further!
Answered 6 years ago
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