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Used car business
Posted on 5/16/12 at 1:00 pm
Posted on 5/16/12 at 1:00 pm
My brother is wanting to start a used car business in Houston.
Do any of you think this is a good idea?
He's been piddling with it for a year or so now, and is asking my father for a $35,000 investment to buy more cars.
Seeing all the abandoned used car lots in Baton Rouge I would think this is crazy.
But it might be different in Houston.
Do any of you think this is a good idea?
He's been piddling with it for a year or so now, and is asking my father for a $35,000 investment to buy more cars.
Seeing all the abandoned used car lots in Baton Rouge I would think this is crazy.
But it might be different in Houston.
3
Posted on 5/16/12 at 2:24 pm to street pizza
quote:
and is asking my father for a $35,000 investment
he's not ready
Posted on 5/16/12 at 2:43 pm to Fusaichi Pegasus
Leave that idea on the table and open a Subway. It would only cost him 15K for the francise and the other 20 to set up small shop. He would make better money that is more dependable. Just an idea.
Posted on 5/16/12 at 2:49 pm to street pizza
quote:
He's been piddling with it for a year or so now, and is asking my father for a $35,000 investment to buy more cars.
Bad idea for your brother to ask and an even worse idea if your father lends (gives) him the money.
Posted on 5/16/12 at 3:49 pm to Will Cover
35,000?
350,000 might get him on his way... big might though.
350,000 might get him on his way... big might though.
Posted on 5/17/12 at 8:46 am to Alabama Slim
$35,000 is not going to cut it. He needs to convince a bank to provide him with a floorplan so he can build up a nice inventory of vehicles. Of course, the bank is going to want proof of Dealers Open Lot insurance before they would floorplan for him. Also, his finances would have to be in pretty good order.
Posted on 5/17/12 at 11:00 am to street pizza
I personally wouldn't think it's a good idea for Houston. We have CarMax's everywhere as well as Texas Direct Auto. I think they have the used car needs covered for normal people. Then, there's the ones that just require $99 down and a paycheck stub to qualify for the poorer folks.
Not sure where your brother's niche' would be...
Not sure where your brother's niche' would be...
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