I am new to this style of communication but have followed these types of forums and it looks like a number of of you have some really good ideas. So I thought I would try it out and see if any of you have some tips for me on starting my own business.
Here's my situation:
I have been employed at a dealership for the past 11 years, but lately have felt as if it's time to venture out and pursue starting my own business. I would like to know if any of you have any ideas/tips on how to apply for a Class W (Wholesale) dealer license in Michigan and develop a smooth exit strategy from my current employer without "burning any bridges"
I have inquired with the Secretary of State office and my application should be arriving in the mail shortly. I was told that I need to fill out the application and return along with a Zoning and municipality approval, fleet insurance certificate, request a minimum of two dealer plates and a $75 processing fee.
The only problem is: the zoning and municipality approval. I don't have the money to purchase a property to be able to store my inventory. I would rather use the money that I have to purchase the inventory and supplies that I need to get started.
However, I have inquired with a friend/customer of mine and he has offered to allow me to use a portion of his property in which he conducts a transportation business to store inventory as well as execute how I plan on being different that all the other people just looking to make a quick buck.
I am in the process of writing a business plan that will include developing a network of dealers that will allow me to purchase vehicles for their inventory.
Unlike other wholesalers, I would like to prepare the vehicle myself for retail delivery. I see the types of vehicles that are brought to our dealer on a daily basis with markings, scuffs, scratches, mismatched tires, worn floor mats, missing keys and owner's manuals and hear the used car manager talk about how after bringing a vehicle into inventory how he is responsible for spending more time and money into getting the vehicle ready for retail delivery.
I am looking forward to hearing any ideas or suggestions you may have.