Have You Ever Considered Starting a Business in the Motor Trade?

Working with cars can be a very profitable venture if you know what you’re doing. There are countless businesses in the motor trade and if you’ve ever considered starting a business in the motor trade then you should find this article extremely useful.

Below are some of the key things to consider when starting a motor trade business

Choosing an industry

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Below are some of the main industries within the motor trade –

  • Car sales
  • Mechanics
  • MOT centers
  • Mobile mechanics
  • Valeters
  • Car auctions
  • Delivery agents

When thinking about what part of the motor industry you’d like to start a business in, it’s a good idea to consider where your strengths lie and what you have experience with. Many people who work in the motor trade start off buying and selling cars. The good thing about buying and selling is there’s no barrier to entry. As long as you have enough money to buy a car that you can make a profit on, you can start immediately. Of course you will be limited as to how much you can sell if yo don’t have a premises…

Getting a premises

Key things to consider when choosing a premises include –

  • Location – The location of your premises is absolutely key when you run a motor trade business. Visibility is a must since it will help to bring in customers and give you a much better chance of success.
  • Price – Price is of course another key consideration when choosing a premises. Generally the cost of a premises will depend on where it’s located and its size amongst other factors. It’s important to stay within your budget until you’re confident the business is going to be a success. Then you can move to a bigger location or expand if needed.

Getting Insurance

The right insurance is vital when working in the motor trade. Since those working in the motor trade need to work on and/or transport customer vehicles, they need a higher level of cover than regular motor insurance. Motor trade insurance is a special type of cover that provides protection for all the risks that come with working in the motor trade, including road risks, liability claims from both employees and the public; and over the business itself.

Sites like www.traders-insurance.com enable you to get quotes from a range of different motor trade insurance providers so you can compare them easily and choose the best one.