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    7 Replies Latest reply on Jun 23, 2009 7:35 PM by riskman1

    Starting a business

    newguy73 Newbie
      I'm considering starting a car lot in what I believe is an excellent location. The person that owns the property I have been unable to get in contact with due to his work schedule. My question is do I go ahead and work on my business plan with this location in mind or do I look for a different location?
        • Re: Starting a business
          DomainDiva Ranger
          Plan A the location you really like. Plan B alternate location.

          How do you know the owner of the property you like is willing to sell or lease to you? Is it advertised?
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          • Re: Starting a business
            LUCKIEST Guide
            Starting a business, Welcome

            Who are you?? Where are you?? Do you need help with your business plan??
            1 of 1 people found this helpful
              • Re: Starting a business
                newguy73 Newbie
                My name is Chris and I'm in Colorado. Do i start working on the business plan before or after I find a location?
                  • Re: Starting a business
                    RanksIntl Adventurer
                    Hello!

                    I live in NY now but I'm originally from colorado. What part?

                    As for your business plan...you will want to develop your business plan before or during your search for a location. The reason being, a business plan can help you pinpoint the best location for you based on your market and the economic climate of the area you are opening in. It will also be a determining factor in the price if you are looking for investors because without a solid business plan it will be difficult to secure a loan or investment.

                    If you need help or someone to bounce ideas off of you can email me at the address in my profile.

                    Renee`
                    • Re: Starting a business
                      riskman1 Wayfarer
                      chris a big big number is going to be you insurance for the lot!
                      coverage for the vehicles the bonds for the DMV paper work, financing etc... if you are going to have on site mechanics or send them out, where are you purchasing the vehicles from?
                  • Re: Starting a business
                    AtlantaCPA Newbie

                    You should go ahead with your business plan. During the writing of your business plan, you might realize that the intended location is not good for your business. As part of the business plan, please spend enough time on researching the industry and location. Good Luck.
                    • Re: Starting a business
                      phanio Pioneer
                      Good advice about moving ahead with your business plan - in your plan you will research your target market - if you understand your target market or your potential customers - then you will have a better idea of where your lot should be. Find a local Small Business Development Center (SBDC) and let them help you research your market - their services are free and they have a lot of tools that can help you research your market and your competition.

                      While you are doing this - keep trying to get a hold of the owner of the property - it does not hurt to have information about all sorts of property. You never know, this could still be the perfect location.

                      Also, start researching flooring plans - either from financing companies or autions - also research car autions - this is where you will get the majority of your vehicles to sell - many also offer flooring plans.

                      You can also research indirect funding - finance companies that can help you obtain financing for your customers.

                      Business Money Today