Wondering how to start a junk dealership? We take you step-by-step from start to success.
(article continues below)
Business Plans for Junk Dealerships
As a startup junk dealership owner, writing a quality business plan is one of the first tasks you need to address.
To help you navigate the process, there are a number of business plan software solutions on the market. A business plan software solution is an effective tool for time-strapped junk dealership owners who understand the importance of a great business plan.
As an additional benefit, most business plan solutions are geared toward providing the information most commonly requested by lenders and investors.
Take a Look at Competitors
Long before you open a junk dealership within your community, it's essential to see how you will fit in the competitive landscape. Try our link below to generate a list of competitors near you. Just enter your city, state and zip code to get a list of junk dealerships in your community.
How tough is the competition in the market you are considering? If the competition is too tough, you may need to think about starting the business in a different area or even start a completely different business instead.
Studying the Market
As part of your due diligence on opening a junk dealership, it's a smart move to talk to somebody who is already in the business. Local competitors are not going to give you the time of day, mind you. Why would they want to educate a future competitor?
Fortunately, somebody who runs a junk dealership in another town can be a great learning resource for you, as long as they don't view you as a competitive threat. Many business owners are happy to give advice to new entrepreneurs In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
Where does one find a junk dealership owner that lives outside of your area?
Easy. Find them using our link below and start calling until you are successful.
Competitive Benefits of Buying a Junk Dealership
By acquiring an existing junk dealership, you'll put yourself in a better position with lenders and investors than if you tried to fund a startup.
A business acquisition also provides the benefit of intangible assets like a brand identity. In fact, many entrepreneurs pursue acquisitions for the primary purpose of buying an established brand.
Since your junk dealership's ability to compete is largely indexed to your brand reputation, an acquisition strategy significantly condenses the amount of time it will take for your business to become a competitive threat.
Consider Buying a Franchise
The odds of surviving in business are greatly increased when you choose to franchise and benefit from the prior work of others and their lessons learned.
If you are thinking about opening a junk dealership, you ought to check out whether franchising might make sense for you.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These interviews should be of interest to you.
These additional resources regarding starting a business may be of interest to you.
If you sell to junk dealerships, this isn't the right place for you. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.