It is vital to reach out to those that are sincere in helping you advance and progress in any way that he/she can.
After reading my blogs, I feel disappointed because I did not put forth the upmost effort to reach out to individuals that could have given me guidance on how to start my own auto dealership. I have come to realize that networking makes a difference between you and the next person that may be going for the same position or in competition when it comes to business. But, I do feel that networking does have some negative aspects regardless of ethnicity that may be. Many people do not owe the person they may be networking with and that can be a problem. For example, I was referred to a contact that owns two auto dealerships and he was able to provide insight on things that I did not know. Yet, as I reflect on the interview, I am still where I was before I interviewed him. It is very unlikely that someone that does not know me will allow me to be authorized as a buyer under their auto dealership license. Even if an auto dealer requested a large portion of money from me to become a buyer there would still be room for error for me to jeapordize their license reputation if I chose not to purchase a vehicle at a dealer auction. I have never reached out to an individual because where I'm from, you do not deal with people that you do not know. So, I came into this course with the mentality that could care less if someone else that did not know me would help me progress.
There are aspects of this course that I really enjoyed and helped me to mature as an individual. Networking allowed me to contact the Associate Dean of Academic Affairs of the College of Education after I conducted an interview with her and another lady that were conducting a research study on how successful black males have made it through college. I did not know who they ladies were and what positions they held but, the Associate Dean, Celina Simas, volunteered to help me reach my goal of attending graduate school once the interview was finished. I immediately e-mailed her after she gave me her business card. A couple days later, she e-mailed me and scheduled an interview with the Dean of the College of Education. After missing the graduate school deadline after a month, my networking allowed me to still be admitted into U.I.C.'s College of Education. It is weird because today, April 28th, I have officially found out that I have been admitted into the Elementary Education Instructional Graduate program! Two other things that I liked about the class was the flexibility and the adaptability to our actual lives as humans.
Three things I did not like about the class were the reading selctions and the recommendation to speak and interview with someone that was out of our comfort zone, especially a caucasian person. Also, I did not care for being penalized when the interviews were not completed. If someone does not want to help you they will not.
I would suggest different readings, more interesting movies, and more discussion panels throughout the semester. Overall, I have learned alot in this course and I would like to thank my professor for a well taught course. I'm in graduate school!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Tuesday, April 28, 2009
Tuesday, April 7, 2009
Another Step Towards My Goal of an Auto Dealership
Hi everyone,
My next step towards opening and owning my own auto dealership is to find an actual dealer that holds an Indiana Wholesale Auto Dealer license so that I can hopefully be included on the license as a buyer in order for me to build experience within the dealer auctions. I have heard that they can be tricky and misleading, basically take advantage of newcomers so I want to be prepared when I enter these auctions. I do not know anyone personally with an Indiana Wholesale Auto Dealer license so I have created a Craigslist posting:
http://indianapolis.craigslist.org/aos/1112336979.html (automotive services)
After I posted this advertisement, the only thing that seemed close to fear was someone attempting to get over on me as far as what they would charge me to be a buyer under their license. It is just stage fright and I know it will cease as I actually discuss either scams or actual business from people that choose to reply. I plan on posting all of the responses I receive so that my class can be informed as to what phase my steps are in. Stay posted and patient! I know that I will.....
My next step towards opening and owning my own auto dealership is to find an actual dealer that holds an Indiana Wholesale Auto Dealer license so that I can hopefully be included on the license as a buyer in order for me to build experience within the dealer auctions. I have heard that they can be tricky and misleading, basically take advantage of newcomers so I want to be prepared when I enter these auctions. I do not know anyone personally with an Indiana Wholesale Auto Dealer license so I have created a Craigslist posting:
http://indianapolis.craigslist.org/aos/1112336979.html (automotive services)
After I posted this advertisement, the only thing that seemed close to fear was someone attempting to get over on me as far as what they would charge me to be a buyer under their license. It is just stage fright and I know it will cease as I actually discuss either scams or actual business from people that choose to reply. I plan on posting all of the responses I receive so that my class can be informed as to what phase my steps are in. Stay posted and patient! I know that I will.....
Wednesday, April 1, 2009
A Good Detour Toward My Dream of Owning my own Auto Dealership
Hi,
I have realized that networking is very beneficial after conducting a fruitful interview with a business owner of two auto dealerships on one of the most successful strips of dealerships in Chicago-Western Avenue. Sam, the owner of two dealerships at 6815 S. Western did not hesitate to provide honest and helpful information on how I should obtain my dream to pursue the automotive industry. The interview was not was I expected but it was everything that I hoped it would be; it allowed me to realize how I should go about opening my own dealership. Here is the interview as follows:
Q: How did you begin selling cars?
A: I have begin around the business of cars since I was twelve. My father owned his own dealership so I have been around it my entire life.
How long have you been in business? Also, how have you been able to remain in business as other dealerships suffer from the economic and are forced to close?
A: I have been in business since 1979. I believe I have stayed in business because my priority has been to make sure I take care of my customers. For example, I offer my customers a "50-50" warranty when they purchase a used car. So, if anything goes wrong with the car, I pay half and the customer pays half, as long as they still have the car that they have purchased from my lot. I do not know many dealerships that will offer that type of warranty to their customers. Many used cars are sold "as-is" without a warranty.
Q: Where do you get the cars that are offered for sale at your dealerships? Do you pay for an outside company to transport your new purchases or do you have your own car hauler/transportation?
A: Most of the cars came from newer model dealerships that would receive cars that their customers would trade-in. But, since the economy has taken a turn for the worst, the newer dealerships are not selling their trade-ins to the smaller dealership owners. It has been four months since Chicagoan dealership owners have been forced to purchase their inventory solely at auto dealer auctions. But, it is competitive because you have everyone at the same auction, bidding on the same cars. As for for transporting cars that I purchase from the auction, I have an outside transportation company deliver the cars to my dealerships for $50 per car.
Q: How do you advertise your business and attract potential customers?
A: I get a lot of customers that just walk in to my dealerships. We do advertise in websites such as Autotrader.com and an automotive magazine called Autofocus.
After these questions, Sam began to continue with the conversation of owning two auto dealerships so I sat back and absorbed any and everything that he had to say. Let's take a look at what he had to say, shall we?
We rely on cash transactions here. If you have great credit we can get you finance through banks like Chase. But, if you have bad credit, we can get you financed through a secondary finance company that can charge an interest rate up to 49%.
The best time to sell cars is tax season when everyone has their tax refunds. The best time to sell cars is now. I know some dealership owners that collect cars until it is tax season and then sell them.
One of the most selling vehicles would have to be minivans. I sell alot of minivans-families need minivans. So, I but a lot of minivans. But, I also have alot of people that sell me their cars. For instance, that Buick Grand National with rims that is outside; the owner put over $40,000 dollars into that car and then came into my delaership asking for $10,000. So, I bought the car. Many people are tight on cash and don't want to sell their cars but they have to.
Q: Should I purchase the property where I plan to sell my cars or lease?
A: I would suggest that you lease with the option to buy. Most people that lease property will have the option to buy at a later time. When that time comes, you should purchase the property.
Q: What are your expenses?
A: I have four employees: a porter, secretary, salesman, and a detailer. The salesman receives 15-20% commission from what the cars he sells. I contract mechanics do repair customer vehicles only when they are needed. Property taxes are always on the rise and auto dealers must renew their dealer license every two years.
After asking so many questions, I still did not have a clear understanding on how to start my own dealership until Sam made it clear. "If I were you, I would find someone that has an Indiana Wholesaler License and have them put you under their license as a buyer. You would have to pay them for the fees but you will gain the experience at the auto dealer auction. You have to know what is going on at these auctions because if you don't they'll trick you. They know when they have someone knew at the dealer auction. You'll think the auctioneer is saying $2,800 and he is really saying $5,800. Once you bid and win on a car there is no reversing a bid. You have to purchase the car."
After receiving this beneficial advice, I realized that my first step toward my goal was not a step that would help me progress toward opening my own dealership. Sure, I would have to print and fill out the Illinois Auto Dealer license form one day but there are steps that I need to take before I get to that point. My first step is to find someone that will list me as a buyer under their auto dealer license so that I can purchase cars at a wholesale auto dealer auction and gain some experience. As I post an advertisement on Craigslist, I patiently wait for someone to respond so that I can gain the experience that is vital to becoming a successful auto dealership owner such as Sam.
I have realized that networking is very beneficial after conducting a fruitful interview with a business owner of two auto dealerships on one of the most successful strips of dealerships in Chicago-Western Avenue. Sam, the owner of two dealerships at 6815 S. Western did not hesitate to provide honest and helpful information on how I should obtain my dream to pursue the automotive industry. The interview was not was I expected but it was everything that I hoped it would be; it allowed me to realize how I should go about opening my own dealership. Here is the interview as follows:
Q: How did you begin selling cars?
A: I have begin around the business of cars since I was twelve. My father owned his own dealership so I have been around it my entire life.
How long have you been in business? Also, how have you been able to remain in business as other dealerships suffer from the economic and are forced to close?
A: I have been in business since 1979. I believe I have stayed in business because my priority has been to make sure I take care of my customers. For example, I offer my customers a "50-50" warranty when they purchase a used car. So, if anything goes wrong with the car, I pay half and the customer pays half, as long as they still have the car that they have purchased from my lot. I do not know many dealerships that will offer that type of warranty to their customers. Many used cars are sold "as-is" without a warranty.
Q: Where do you get the cars that are offered for sale at your dealerships? Do you pay for an outside company to transport your new purchases or do you have your own car hauler/transportation?
A: Most of the cars came from newer model dealerships that would receive cars that their customers would trade-in. But, since the economy has taken a turn for the worst, the newer dealerships are not selling their trade-ins to the smaller dealership owners. It has been four months since Chicagoan dealership owners have been forced to purchase their inventory solely at auto dealer auctions. But, it is competitive because you have everyone at the same auction, bidding on the same cars. As for for transporting cars that I purchase from the auction, I have an outside transportation company deliver the cars to my dealerships for $50 per car.
Q: How do you advertise your business and attract potential customers?
A: I get a lot of customers that just walk in to my dealerships. We do advertise in websites such as Autotrader.com and an automotive magazine called Autofocus.
After these questions, Sam began to continue with the conversation of owning two auto dealerships so I sat back and absorbed any and everything that he had to say. Let's take a look at what he had to say, shall we?
We rely on cash transactions here. If you have great credit we can get you finance through banks like Chase. But, if you have bad credit, we can get you financed through a secondary finance company that can charge an interest rate up to 49%.
The best time to sell cars is tax season when everyone has their tax refunds. The best time to sell cars is now. I know some dealership owners that collect cars until it is tax season and then sell them.
One of the most selling vehicles would have to be minivans. I sell alot of minivans-families need minivans. So, I but a lot of minivans. But, I also have alot of people that sell me their cars. For instance, that Buick Grand National with rims that is outside; the owner put over $40,000 dollars into that car and then came into my delaership asking for $10,000. So, I bought the car. Many people are tight on cash and don't want to sell their cars but they have to.
Q: Should I purchase the property where I plan to sell my cars or lease?
A: I would suggest that you lease with the option to buy. Most people that lease property will have the option to buy at a later time. When that time comes, you should purchase the property.
Q: What are your expenses?
A: I have four employees: a porter, secretary, salesman, and a detailer. The salesman receives 15-20% commission from what the cars he sells. I contract mechanics do repair customer vehicles only when they are needed. Property taxes are always on the rise and auto dealers must renew their dealer license every two years.
After asking so many questions, I still did not have a clear understanding on how to start my own dealership until Sam made it clear. "If I were you, I would find someone that has an Indiana Wholesaler License and have them put you under their license as a buyer. You would have to pay them for the fees but you will gain the experience at the auto dealer auction. You have to know what is going on at these auctions because if you don't they'll trick you. They know when they have someone knew at the dealer auction. You'll think the auctioneer is saying $2,800 and he is really saying $5,800. Once you bid and win on a car there is no reversing a bid. You have to purchase the car."
After receiving this beneficial advice, I realized that my first step toward my goal was not a step that would help me progress toward opening my own dealership. Sure, I would have to print and fill out the Illinois Auto Dealer license form one day but there are steps that I need to take before I get to that point. My first step is to find someone that will list me as a buyer under their auto dealer license so that I can purchase cars at a wholesale auto dealer auction and gain some experience. As I post an advertisement on Craigslist, I patiently wait for someone to respond so that I can gain the experience that is vital to becoming a successful auto dealership owner such as Sam.
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