Selling cars in Nigeria or any part of the world is undoubtedly a great way to make cool cash and I can see a lot of individuals having interest in knowing how to start selling cars with no money and in this guide, I am going to show you just that.
Hearing about selling cars, you might be thinking you need a huge amount of money to start the business and considering your pocket now, you might no even have the opportunity to raise half of such money.
But guess what?
There is no problem without solution unless you haven’t found the solution. You can actually begin to sell cars without capital and without doing anything outside what you used to do before. When I mean no capital, I mean zero capital!
About cars selling business
Selling of cars is one of the lucrative business that have the capability of fetching you lots of cash Within a short period of time, and of course, you always think you’ll will need a huge amount of money to start this business. However, you might be correct if we look at the business at one angel and might be wrong with the look of things from another angle.
The fact is that, there are different approach to this business and in this guide, I will be showing you different methods that will allow you to start this business with zero cash. Yes! You heard me right!
I once have a friend that start the business without owning a single car and usually earn a lot of money with no stress, one thing about the business is that, even if it’s only one sale you’re able to close within a month as a beginner, the income will be enough for you for that month and sometimes beyond.
How to start selling cars with no money
As I have said, there are different approaches to selling care without investment and in this section, I am going to provide you with two main tactics that you can use to start your own car selling business with no money.
This first tactics on the list is becoming agent for sales car, this is as simple as connecting a seller to the appropriate buyer and deduct your own commission after the sale is complete.
Ho to start used car selling business with no money
To start used cars selling business with no money, all you have to do is to do survey and get in touch with individuals that are ready to put up their used car for sale. Most of the time, people will want to upgrade from their current car to another, leaving them with no option that to sell the present one’s.
Al required of you is to get to this people and solicit for their permission to put up the car on your own page or which ever medium you might intend to use in promoting it.
Now that you have gotten someone that intends to sell his/her used car, the next thing is to look for a potential buyer, sell the car and remove your commission. This system is called a win win method, you have successfully helped the seller in getting buyer for his/or her car very fast.
On the other side, you have Also helped the buyer in getting the car of his dream at an affordable price and above all, you have make money without owning any car. Yours is to do the talk and make cool cash.
It’s as simple as that and joy made me believed that this tactics works and effectively cool.
Few months ago, joy told me she wants to start selling cars and I was like, with which money? She calmed me down and explain her plans and I was like wow! That’s a Great idea! She get started with her plans by creating awareness. She made it known to the general public and all relevant friends that she can help them sell their used cars should Incase they need to sell it.
Few weeks later, she was able to get someone that wants to sell his Volkswagen Jetta 2006 for 1,500,000, she request for the pictures showing the interior and the exterior of the car, asked for the condition of the car and convinced the seller to sell the car for 1,400,000. The seller agreed.
Now that the car is available, she started posting it on her Whatsapp status and to my greatest surprised, she messaged me again that two individuals have shown interest in just two days of posting the add. She wanted to let me know she’s on top of her game. Lol!
Remember that joy and the seller agreed to sell the car for 1,400,000, but when she’s about to put the ads up, she tagged it for sale at 1,990,000. Another business strategy.
During negotiation, one of the two individuals that shows interest agreed to buy the car for 1,600,000, and at this point, joy get paid with the 1,600,000 and connect the buyer to the seller for proper documentation. After the sale is successful, she forward the 1,400,000 to the seller and removed her commission of a whooping sum of N200,000.
That’s how she get started and start getting better in the business every single day.
Steps to Starting a Used Car Dealership Business from Home With No Money
Selling of used business car isn’t a business that you can just dive Into without proper knowledge on how it works and having some basic needs that will help your business to be a successful one. Truly, I have significantly show you how to start the business with nothing, but self determination and to make this a complete one, I will be listing some steps you must take to start selling Used cars with no money.
1. Build a Brand
The first decision to make while diving into the car selling business is whether you’re looking up to getting quick cash and vacate the idea or keep building on it till you become big. If your aim is to build on it till you become big, then it’s better you get started now. Choose a relevant and easy to remember name and creat a unique logo, should in case you decide to create a page for your business and other platform that will need a cover photo.
Let’s this logo reflect what you do and create your cover photo in a way that mere looking at it, anyone will know what you’re Into. However, in case you have no money at start, you can always do that later, maybe after your first sale or so.
2. Build trust
It’s very important to build trust when you intend going into this kind sensitive business as Individuals will find it too difficult to trust a stranger with their property that worth millions of naira or as the case maybe.
This is why is very important to start from people you have known or connect with in the past, or get to a seller via someone that knows you better and as well knows the seller better. This is the person that will stand as guarantor for the owner to release his/her property to you in any manner.
3. Conduct Market Research and Feasibility Studies
This is the survey I mentioned in the previous part of this guide, it’s very important as far as how to start selling cars with no money is concerned, you must know who and who are your potential buyers and sellers respectively, this takes us to Demographics and Psychographics.
The demographic and psychographic composition of used car dealership is indeed large. This is so because if you conduct a quick survey, you will realize that the numbers of people who can afford brand new cars are far less than the numbers of people who can’t. Though, there are people who can afford brand new cars that will still have the intention to settle for used cars for some reasons that are best known to them.
You should understand that the used cars dealership business attracts clients that cuts across different economic class. It is in two phase, either you are selling your used cars or your buying used cars. So if you are mapping out marketing strategies for your used car dealership business, you should not just restrict it to only the middle class and the lower class in the society, but also the upper class.
However, during your survey, you should as well consider people that have the right connect in this area and have good potential of connecting you with used cars that are up for sale.
4. Build target Audience
Of course your previous audience wasn’t built because of your new business, though, you will still get a potential buyer/seller from your existing audience, but it won’t be as good as building audience for this your new purpose.
There are different approach to building audience and one of them is by creating awareness on your social handle and urge all your lovers to repost on your behalf. With this, you should be able to get a considerable number of audience to start the smooth running of your new business. Another tactics us running paid ads on platforms with low ad cost.
5. Get a good mechanic
When I said o good mechanic, I mean a very good mechanic. You might be wondering what mechanic is doing here, but let me ask you,
What if the intention of the seller is different from what he/she narrate?
Sometimes, some seller will try to to play with your intelligent and tell you the car is in good working condition, but in reality, he/she wants to sell the car because of the troubling working condition of the car.
When you have a good mechanic, you won’t have to depend on what the seller says but what your mechanic says, your mechanic will be the one to diagnose the car and see what and what is wrong with the car or if the car is in absolute good condition. With this, you will be in top of your game and have full idea on what you’re promoting to your potential buyers.
Even when the car is not in good working condition, the mechanic will be able to decide if you can repair it and subtract the money from the buying price. The advantage of having a good mechanic cannot be emphasized enough as far as this business is concerned.
6. Avoid stolen cars
Before you can go Into a used car re-selling business, you must have put all the necessary checks in place, so as to avoid selling a stolen car to your buyer. Make sure the seller provide all the required papers to prove the ownership of the vehicle before agreeing to help such person sell his/her car.
This step is very important as it’s a very critical part of the business that might lands you in trouble if care is not taken. On this note, always avoid shady deals.
7. Grow with your growth
When you keep doing one thing consistently, your consistency will surely create a room for growth band you shouldn’t fail to grow with the growth. What I meant here is that, you should improve with your improvement.
When you start getting sales lead, you will tend to go even more deeper Into the business and some need that didn’t surface at start with start to surface, make sure you take all of them into consideration and do the required justice.
Wrap up on used car re-selling business
With the detailed information revealed in this guide, I am very sure you should have fully understand how to start selling cars with no money and be able to start your own used car re-selling business with no capital. Having do justice to the first tactics, let’s move to the second tactics that will allow you sell cars with no money.
How to start car dealership with no money
When you hear about car dealership, I am sure what comes to your mind is a very huge amount of start of capital of which you cannot even afford it’s quarter at this present moment, but as I have said earlier, whenever there’s a problem, there is always a solution unless you don’t get to know the solution.
The fact that you want to start car dealership with no money is what brings about being a sub-car dealer, in short, becoming an agent to a reputable car dealer or a car vendor with a very large show room and good sales history.
Steps to become agent/sales man to a reputable car dealer
1. Do proper research about two or more reputable car dealers in your area.
Wherever you are in this part of the world, there’s always two or more dealer that nominate your area and all required of you is to search for any of them and do background checks on them. Do your findings on how they operate and the kinds of car they deal with.
2. Pick the one you want to work with
No that you have complete your findings, the next thing is to pick one or two of them and draft how you intends to work with them. When you pick more than one, you will have stand a chance to always have something to offer your customers whenever they’re in need of a new car. Also, you will be able to compare price and commission before referring the potential customer to a particular dealers.
3. Approach the dealers and make your intention clear to them
This situation is a win win to both parties, and even, the dealer is the one at the greater advantage in this case, you will work hard to refer customers to them and causing their sales to increase at no cost to them. Let them know you have get the right strategy to Promote what they sell and bring in, new potential customers.
4. Reach an agreement with the company
Yours is to look for a buyer and refer them to this dealers and get commission after a successful sale and on this note, you will have to reach an agreement about the type of commission you will get on each sale. Sometimes, you might be given the opportunity to add your own commission to the price. For example, if the company is selling the car for 6,000,000, you will be given an opportunity to access inflate the price and sell the car for a price that pleases you and as well won’t be hard on the customer.
For example, if the company price is 6,000,000 and you’re able to convince the buyer to buy at 6,500,000, then, the company will forward the extra 500,000 to your account after the completion of the sales.
In some cases, you will be offered with a compensation plans, which will give you a certain percentage of the total amount of the money paid by your referral to get a car from the dealer and a certain fixed amount if you’re able to hit a particular target Within a week/month/year.
5. Seal your agreement and start referring buyer to the company
Make sure you reached an appropriate and standard agreement, then start selling cars to your Audience as an agent if your parent company. Reach such agreement outlined about automatically makes you an agent of the company with all entitlement to redistribute the company promotional materials in a bid to win customer for the company and get commission on every purchase referred by you.
Starting car dealership business with no money has different approaches and the detailed information revealed in this detailed guide on how to start selling cars with no money had successfully revealed to you, the two major and easiest way to start selling cars with zero capital.