we buy any car business plan

We Buy Any Car Business Model – How Does We Buy Any Car Make Money?

Executive Summary:

We Buy Any Car is a service that directly purchases cars from consumers . Sellers can receive a non-binding valuation within 30 seconds.

We Buy Any Car primarily makes money by selling the vehicles it purchases for a higher price than they were initially bought for.

Founded in 2006, We Buy Any Car currently operates over 500 branches in the United Kingdom. It has purchased more than 2.5 million cars since its inception.

First Of All: How Does We Buy Any Car Actually Work?

Webuyanycar.com, as the name suggests, is a service that directly purchases cars from consumers willing to sell theirs.

The firm was created based on the premise that selling your car via a traditional dealership or online classifieds sites can be both tedious and time-consuming.

Here’s how selling your vehicle via webuyanycar.com works. First, you enter the registration number and mileage details on We Buy Any Car’s website.

The website then provides you with an initial valuation within 30 seconds. We Buy Any Car, furthermore, locks the price for the next 4 days.

However, this is not the final price a vehicle is usually sold for, which means that a seller then needs to book an appointment at one of the firm’s 500+ branches. A branch in the United Kingdom is, on average, only 13 minutes away.

On the day of the appointment, you need to bring a variety of documents including the V5 (or logbook), the vehicle’s service history, ID and proof of address, bank details, and papers related to any outstanding finance payments.

The vehicle will then be thoroughly inspected when arriving at one of the firm’s branches. While there is no obligation to sell your car, We Buy Any Car also reserves the right to adjust its offer based on any issues the representative finds.

In the past, both consumers and competitors have pointed out that We Buy Any Car will regularly lower its initial online valuation.

The whole inspection process normally takes around one hour. If you agree to sell, then the money is in your bank account within the next 30 minutes.

We Buy Any Car settles any outstanding financing you have on your car, with the difference being deducted from the valuation.

We Buy Any Car, apart from operating its namesake site, is also available in the United States and operates an associated service dubbed We Buy Any Van.

Detailing The Rise & Various Controversies of We Buy Any Car

We Buy Any Car, which is headquartered in Farnham, United Kingdom, was founded in 2006 by brothers Darren and Noel McKee.

Buying and selling cars is part of the family’s DNA, to say the least. Their father, Frank McKee, founded the used car supermarket Carcraft back in 1951.

Darren and Noel started working for their father’s business when they turned 16, thus forgoing any college education.

They both started as trainees on the shop floor but eventually managed to work their way up to director-level positions.

Meanwhile, Carcraft remained firmly based in Rochdale and didn’t expand beyond its Manchester area roots. That all changed in 1998.

The brothers purchased the business from their father, who at that point was about to retire, with a £50 million loan from the Royal Bank of Scotland.

The first point of action was to take the business nationally by opening over a dozen of sites across the country. They modernized it as well, for example by launching a website, which especially back then wasn’t all too common for traditional/physical businesses.

Additionally, Carcraft grew by means of acquisitions. In 2000, they purchased a car supermarket in Newport, which was owned by Car Group, for £10 million.

Interestingly, the brothers tried to sell the business for £200 million later that year. Unfortunately, a suitable acquirer was never found, in part due to the bursting of the dot-com bubble.

Instead, they continued acquiring other car supermarkets throughout the years since the core business itself was fairly profitable. In 2003, for example, Carcraft generated £214 million in revenue while posting a profit of £15 million. 

However, the brothers figured that there was still room for improvement. A huge portion of the vehicles that Carcraft sold were purchased from other dealerships and traders. Those cars, in turn, were purchased from consumers.

They figured that profit margins could be significantly boosted if they managed to cut out the middlemen (i.e., dealerships and traders).

The brothers were able to quickly grow the business using the millions in profits that the core Carcraft business was generating. By 2008, We Buy Any Car was already running national TV commercials.

A jingle released in April 2009 proved to be particularly popular with consumers, which significantly raised the firm’s awareness.

Also, due to the great financial depression, many people were forced to sell off their cars to make up for the loss of earnings.

As a result, We Buy Any Car would grow like gangbusters. By the end of 2009, the service had already purchased over 100,000 cars and opened its 100th branch.

And due to the rapid success of the car buying model, the brothers decided to expand by launching We Buy Any Van in 2010.

The firm’s aggressive haggling tactics would soon come back to hunt it, though. In April 2011, the British Office of Fair Trading (OFT) “found that 95.8 percent of customers who sold their car to webuyanycar.com received less for their vehicle than the original website valuation.”

While the firm believed that its aggressive negotiation tactics were still in accordance with the law, it still announced that it would make the necessary changes to avoid any trouble going forward.

The OFT investigation didn’t seem to affect We Buy Any Car’s growth too much, though. In October of the same year, it announced that it would expand into the United States, its second market, by opening 20 branches. We Buy Any Car invested £1 million to finance the launch.

Unfortunately, the bad news for We Buy Any Car seemed to continue as well. One of the firm’s agents, in an interview with The Mirror, had the following to say about its buying practices:

“The pressure on vehicle purchasers to lie to ­customers is immense ­because earnings are based on commission. The whole business is based on ­persuading the ­customer into thinking their car is worth a lot less than it ­actually is. The customer loses out while the company makes massive profits.”

The purchasers would be instructed to search for the tiniest of issues, for instance by pointing out minor ‘damages’ including tiny stone chips and slightly worn tires. He would go on to add that “the sad part is that some customers are ­desperate because they’ve lost their jobs. That kind of vulnerability is music to the firm’s ears because it knows they will take whatever they are ­offered. ”

The firm’s profile, despite those damming practices, remained unaffected, though. And the McKee brothers, years after trying to sell Carcraft, finally pulled off the exit they so desperately sought.   

In May 2013, vehicle auction company BCA, short for British Car Auctions , acquired We Buy Any Car for an undisclosed sum. We Buy Any Car had already purchased over 425,000 cars from consumers at that point.

Meanwhile, BCA was acquired by private equity Haversham Holdings in March 2015. The deal, which valued the We Buy Any Car Owner at £1.2 billion, would inject new capital to pay down portions of its debt and allow We Buy Any Car to expand into new countries, namely Germany and the Netherlands. BCA would also be rebranded into BCA Marketplace as a result of the said acquisition.

However, just six months later, BCA Marketplace ultimately decided to scrap its European expansion plans to boost the group’s overall profit margins.

One of those profit-boosting initiatives was the introduction of a service called premier payment , which for a fee of £29.75 allowed them to have funds deposited within 30 minutes.

By January 2017, a little after ten years of launching, We Buy Any Car reached the inaugural milestone of one million purchased cars.

We Buy Any Car would continue to invest in expanding its business, mostly running various national TV adverts (such as with television presenter Philip Schofield) and opening up new branches across the country.

Problems would continue to accompany the firm as well. In September 2021, We Buy Any Car, alongside Saga and Sports Direct, were fined a total of £495,000 (£200k for We Buy Any Car) for sending hundreds of millions of nuisance messages to consumers.

Three months later, in December, it had to publicly apologize to a female customer after one of the firm’s representatives repeatedly sent inappropriate messages without her consent.

Today, a total of 700 people are employed by We Buy Any Car, which operates over 500 branches in the United States and the United Kingdom. It has helped over 2.5 million customers sell their cars.

How Does We Buy Any Car Make Money?

In that regard, it operates just like any other car dealership. However, there are a few competitive moats that enable the company to achieve comparatively higher margins.

The first key differentiator is convenience and simplicity. All you need to do to get an initial valuation is to enter the car’s registration number and mileage.

Moreover, a We Buy Any Car facility is, on average, only 13 minutes away while the money, should you agree to sell, is transferred into your bank account within 30 minutes.

A certain set of customers may value speed over getting the absolute best price on their vehicle. Another key aspect, which has only been amplified by the rise of the internet, is the fact more and more people are simply not comfortable with haggling and negotiating.

And when selling a car online, for instance via Auto Trader or Gumtree , one has to deal with dozens or hundreds of messages. Buyers may or may not be serious and some, even though a price was previously agreed upon, may try to negotiate again when meeting in person.

However, as I’ve pointed out before, consumers pay for this convenience by getting a worse price on their vehicles. Studies have shown that car owners lose out on £958 on average when selling their vehicle via We Buy Any Car.

Interestingly, getting a worse deal in exchange for convenience and speed isn’t necessarily limited to the automotive industry. In recent times, more so in the United States, so-called iBuyers (such as Opendoor ) have emerged, promising to purchase someone’s home within days or sometimes hours – and then flipping them for a profit.

The second competitive advantage that it possesses has to do with Constellation Automotive Group, the company that owns We Buy Any Car.

Constellation owns and operates a variety of automotive brands, most notably bca.co.uk, 162-dealership strong Marshall Motor Group, and Cinch.

Cinch, which was initially launched as a classifieds site but later rebranded into an online car dealer , currently sells over 8,000 cars via its website. A majority of those vehicles are likely sourced from the vehicles that We Buy Any Car purchases.

As a result, Constellation is able to utilize the traffic that its popular offline (Marshall) and online (BCA, Cinch) brands generate and, after proper inspections, offload said vehicles considerably faster.

And for those vehicles that it cannot sell via those brands, it can simply sell them to competing auction houses, dealerships, and car supermarkets.

The business model of We Buy Any Car is thus predicated on speed (both in terms of acquiring new vehicles and offloading the ones it holds) as well as maximizing the number of cars in its inventory.

Viktor Hendelmann

Hi folks, Viktor checking in! Years of experience in various tech-related roles have led me to start this blog, which I hope provides you with as much enjoyment to read as I have writing the content.

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Last Updated on October 28, 2022 by Viktor Hendelmann

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Why we buy any car's business model is so successful.

We Buy Any Car business model canvas

We Buy Any Car’s Company Overview

We Buy Any Car is a dynamic and customer-focused automobile purchasing company that simplifies the process of selling used vehicles. As a market leader, the company specializes in providing a fast, efficient, and hassle-free way for individuals to sell their cars regardless of make, model, or condition. Leveraging an easy-to-use online platform, We Buy Any Car offers a streamlined experience where customers can receive an instant valuation, book an appointment at one of their numerous convenient branch locations, and complete the sale in less than an hour. With a commitment to transparency and fair pricing, the company has earned the trust of countless customers and solidified its reputation as a reliable and straightforward partner in the automotive industry. The business model of We Buy Any Car centers around simplifying and expediting the traditionally cumbersome process of selling a used car. By providing an immediate online valuation tool, the company removes the uncertainty and time-consuming nature of private sales and dealer negotiations. Customers can quickly input basic information about their vehicle on the website to receive a no-obligation quote. Upon accepting the offer, sellers can schedule an appointment at one of the company's extensive network of branches, where a detailed inspection is conducted to finalize the offer. This model not only saves time for the sellers but also ensures they receive a competitive market price without the hassle of advertising, haggling, or performing sales transactions. The revenue model of We Buy Any Car is driven by purchasing used vehicles from private sellers and then reselling them through various channels. After acquiring cars from individual owners, the company leverages its extensive industry connections and sales channels, including auctions, dealerships, and direct sales, to quickly turn over inventory at a profit. The strategic focus on maintaining a high volume of transactions allows for economies of scale, ensuring profitability despite relatively small profit margins per vehicle. Additionally, ancillary services such as administrative fees and the sale of warranties or financing options may contribute to the company’s revenue stream, further bolstering its financial performance while providing added value to customers.

Country: England

Foundations date: 2006

Type: Private

Sector: Consumer Services

Categories: Automotive

We Buy Any Car’s Customer Needs

Social impact:

Life changing: affiliation/belonging

Emotional: provides access

Functional: saves time, simplifies, reduces effort, avoids hassles

We Buy Any Car’s Related Competitors

We buy any car’s business operations.

An auction is a procedure in which prospective purchasers submit competing bids for assets or services. Providing a product or service for sale to the highest bidder is a standard business practice. Because they satisfy both businesses and customers, auction business models help to market sustainability. Companies gain because their product is accessible to a pre-existing market. Customers profit from the auction model since they have a say in the product's ultimate pricing.

A brokerage firm's primary responsibility is to serve as a middleman, connecting buyers and sellers to complete transactions. Accordingly, brokerage firms are compensated through commission once a transaction is completed. For example, when a stock trade order is executed, a transaction fee is paid by an investor to repay the brokerage firm for its efforts in completing the transaction.

Classified advertising:

Classified advertising is most prevalent in newspapers, online publications, and other periodicals that may be sold or given for free. As a result, classified ads are much less expensive than more prominent display ads companies use, even though advertisements are more prevalent.

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

A digital strategy is a strategic management and a business reaction or solution to a digital issue, which is often best handled as part of a broader company plan. A digital strategy is frequently defined by the application of new technologies to existing business activities and a focus on enabling new digital skills for their company (such as those formed by the Information Age and frequently as a result of advances in digital technologies such as computers, data, telecommunication services, and the World wide web, to name a few).

Direct selling:

Direct selling refers to a situation in which a company's goods are immediately accessible from the manufacturer or service provider rather than via intermediate channels. The business avoids the retail margin and any extra expenses connected with the intermediaries in this manner. These savings may be passed on to the client, establishing a consistent sales experience. Furthermore, such intimate touch may help to strengthen client connections. Finally, direct selling benefits consumers by providing convenience and service, such as personal demonstrations and explanations of goods, home delivery, and substantial satisfaction guarantees.

Disintermediation:

Keeping the purchase price low by avoiding mediators and maximizing supply margins is a win-win situation. In finance, disintermediation refers to how money is removed from intermediate financial organizations such as banks and savings and loan associations and invested directly. Disintermediation, in general, refers to the process of eliminating the middleman or intermediary from future transactions. Disintermediation is often used to invest in higher-yielding securities.

Guaranteed availability:

Guaranteed availability is a property of a business system that attempts to maintain an agreed-upon level of operational performance, often uptime, for a longer time than is typical. The idea is often linked with terms such as high availability and catastrophe recovery.

A pricing strategy in which a business provides a low price in order to drive demand and increase market share. Additionally referred to as a low-price approach. The low-cost model has sparked a revolution in the airline industry. The end-user benefits from low-cost tickets as a result of a revenue strategy that seeks various sources of income. Ryanair was one of the first businesses to embrace this approach.

Market research:

Market research is any systematic attempt to collect data about target markets or consumers. It is a critical aspect of corporate strategy. While the terms marketing research and market research are frequently used interchangeably, experienced practitioners may want to distinguish between the two, noting that marketing research is concerned with marketing processes. In contrast, market research is concerned with markets. Market research is a critical component of sustaining a competitive edge over rivals.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

Online to Offline O2O:

Online to offline is a term (often abbreviated as O2O) used in digital marketing to refer to systems that entice customers to purchase products or services from physical companies while they are in a digital environment.

Resellers are businesses or individuals (merchants) that acquire products or services to resell them instead of consuming or utilizing them. This is often done for financial gain (but could be resold at a loss). Resellers are well-known for doing business on the internet through websites. One instance is the telecommunications sector, in which corporations purchase surplus transmission capacity or take the call from other providers and resell it to regional carriers.

Transaction facilitator:

The business acts as an acquirer, processing payments on behalf of online merchants, auction sites, and other commercial users for a fee. This encompasses all elements of purchasing, selling, and exchanging currencies at current or predetermined exchange rates. By far the biggest market in the world in terms of trade volume. The largest multinational banks are the leading players in this industry. Around the globe, financial hubs serve as anchors for trade between a diverse range of various kinds of buyers and sellers 24 hours a day, save on weekends.

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Building a Profitable Car Dealership Business from Scratch: A Step-by-Step Guide

• November 16, 2023
• Automotive Lead Generation

If you are passionate about cars and have a strong entrepreneurial spirit, starting your own car dealership business can be an exciting and lucrative venture. However, building a profitable car dealership business from scratch requires careful planning, market understanding , and a solid financial foundation. In this step-by-step guide, we will explore the key aspects of starting a car dealership business and provide valuable insights to help you succeed.

Understanding the Car Dealership Business

Starting a car dealership business requires a comprehensive understanding of the industry and its dynamics. The car dealership industry involves the buying and selling of new and used vehicles to consumers or other businesses. It encompasses various segments, such as passenger cars, commercial vehicles, and luxury automobiles.

As a car dealer, your primary goal is to acquire vehicles at wholesale prices and sell them at a profit. However, this is just the tip of the iceberg. To succeed in this competitive market, you will need to establish strong relationships with suppliers, manage your inventory effectively, negotiate prices, and provide exceptional customer service .

Let’s delve deeper into the key aspects of the car dealership business.

The Basics of the Car Dealership Industry

The car dealership industry is a complex and multifaceted sector that requires a deep understanding of market trends and consumer preferences. It is essential to keep up with the latest developments and technological advancements in the automotive industry to stay ahead of the competition.

When it comes to the types of vehicles you can sell, the possibilities are vast. From compact cars to SUVs, from electric vehicles to hybrid models, the choices are endless. Understanding the different vehicle segments and their unique characteristics will help you cater to a wide range of customer preferences.

Moreover, the car dealership business is not limited to just selling vehicles. Many dealerships offer additional services such as maintenance and repairs, financing options, and extended warranties. These value-added services can significantly enhance customer satisfaction and loyalty.

Key Players in the Car Dealership Market

To navigate the car dealership market successfully, it is crucial to be aware of the key players in the industry. Understanding their roles and characteristics will help you identify opportunities and develop a competitive edge.

Franchise Dealerships are one of the major players in the market. These dealerships have exclusive rights to sell new vehicles from a specific brand or manufacturer. They often offer additional services like maintenance and repairs, making them a one-stop-shop for customers.

Independent Dealerships, on the other hand, are not affiliated with any particular brand. They typically specialize in selling used vehicles and have more flexibility in terms of inventory selection and pricing. This flexibility allows them to cater to a broader range of customer budgets and preferences.

In recent years, online car marketplaces have gained significant popularity. These platforms connect buyers and sellers, facilitating transactions and providing extensive vehicle listings. Online car marketplaces offer convenience and a vast selection of vehicles, making them a preferred choice for many customers.

By understanding the strengths and weaknesses of these key players, you can position your dealership strategically and differentiate yourself from the competition.

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Profitability Factors in the Car Dealership Business

While the car dealership business can be profitable, several factors contribute to your success. It is essential to consider these factors and implement effective strategies to maximize profitability .

Market Demand plays a crucial role in determining the success of your dealership. Assess the demand for vehicles in your target market. Are there specific vehicle types or brands that are highly sought after? Understanding market trends and consumer preferences will help you make informed decisions regarding your inventory selection.

Location is another critical factor. Choose a strategic location that ensures visibility, accessibility, and proximity to potential customers. A well-chosen location can significantly impact foot traffic and customer reach.

Pricing Strategy is a delicate balance. Set competitive prices that attract buyers while still allowing for a reasonable profit margin. Conduct market research and analyze your competitors’ pricing strategies to determine the optimal pricing for your vehicles.

Effective Inventory Management is essential to minimize holding costs and maximize turnover rate. Keep track of your inventory, analyze sales data, and adjust your purchasing decisions accordingly. Maintaining a diverse inventory that caters to different customer preferences can also help attract a wider customer base.

Customer Experience is a key differentiator in the car dealership business. Provide exceptional customer service and build long-term relationships with buyers. A satisfied customer is more likely to become a repeat customer and refer your dealership to others.

By considering these factors and implementing effective strategies, you can increase the profitability of your car dealership business. Remember, success in this industry requires continuous adaptation to changing market dynamics and a relentless focus on customer satisfaction.

Planning Your Car Dealership Business

Identifying your target market.

It is essential to identify your target market before launching your car dealership business. Consider factors such as demographics, income levels, preferences, and local competition. By understanding your target market’s needs and preferences, you can tailor your inventory and marketing efforts to attract the right customers.

Moreover, conducting market research will help you identify trends, predict demand, and adjust your business strategy accordingly.

Choosing the Right Location

The location of your car dealership can significantly impact your success. Look for areas with high foot traffic, easy access, and visibility. Consider the proximity to major roads, commercial hubs, and residential neighborhoods.

Additionally, check local zoning laws and regulations to ensure that your chosen location allows for car dealership activities. Consult with a real estate professional to find the best-fit location for your business.

Deciding on New or Used Cars

Another critical decision is whether to focus on selling new or used cars . Both options have their advantages, and your choice will depend on factors like market demand, available resources, and competition in your area.

Selling new cars might require establishing partnerships with specific manufacturers, meeting certain sales quotas, and complying with brand guidelines. On the other hand, selling used cars allows for more flexibility in terms of pricing, selection, and sourcing.

Legal Considerations for Car Dealerships

Necessary licenses and permits.

Before opening your car dealership, you must obtain the necessary licenses and permits to operate legally. Consult with your local licensing agency or business regulatory authority to identify the specific requirements for your area.

Common licenses and permits typically include a dealer license, salesperson license, and potentially additional permits for vehicle storage, display, and vehicle registration.

Understanding Zoning Laws

Car dealerships are subject to zoning laws, which regulate the types of activities that can take place in specific areas. Ensure that your chosen location is zoned for car dealership activities or obtain the necessary permits or variances.

Consult with a legal professional or local zoning authorities to navigate the zoning regulations and avoid any potential issues.

Insurance Requirements for Car Dealerships

Obtaining comprehensive insurance coverage is crucial to protect your car dealership business from potential risks and liabilities. Insurance requirements may vary depending on your location and the type of vehicles you sell.

Common insurance policies for car dealerships include general liability insurance, inventory insurance, garage liability insurance, and workers’ compensation insurance. Consult with an insurance professional to design an insurance package that suits your specific needs.

Financing Your Car Dealership Business

Startup costs for a car dealership.

Starting a car dealership requires a significant upfront investment to cover various expenses. These may include:

• Property or lease costs for your dealership location.
• Initial inventory purchase.
• Licensing and permit fees.
• Office equipment, furniture, and signage.
• Marketing and advertising expenses.
• Insurance premiums.

Ensure you have a detailed business plan and secure adequate funding to cover these startup costs and sustain your business until it becomes profitable.

Securing Financing for Your Business

If you don’t have the necessary capital to finance your car dealership business, securing financing options can be a viable solution. Explore traditional banking options, government-backed loans, or private investors who specialize in financing car dealership startups.

Prepare a comprehensive business plan, financial projections, and supporting documents to increase your chances of obtaining financing. Demonstrate your knowledge of the industry, market analysis, and strategies for profitability to instill confidence in potential lenders or investors.

Managing Cash Flow in the Car Dealership Business

Effective cash flow management is vital in the car dealership business to ensure ongoing operations and sustained growth. Some key practices include:

• Implementing a robust accounting system to track revenue, expenses, and inventory.
• Regularly reviewing financial statements to identify trends, bottlenecks, and areas for improvement.
• Establishing relationships with reliable suppliers and negotiating favorable terms.
• Minimizing holding costs by optimizing inventory turnover.
• Being diligent with expenses and prioritizing cost control measures.

By continuously monitoring and managing your cash flow, you can navigate potential challenges and position your car dealership for long-term profitability.

Starting a profitable car dealership business from scratch requires careful planning, market understanding, and financial preparedness. By following this step-by-step guide, you can make informed decisions, overcome challenges, and build a successful car dealership enterprise. Remember to continuously adapt to market trends, provide exceptional customer service, and prioritize profitability to thrive in the competitive car dealership industry.

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How to start your used car business by utilizing APIs

• March 9, 2024

Joses Peter

• No Comments

If you’re considering going into the used car industry, you’re entering a lucrative yet competitive market. Understanding the ins and outs of starting your own used car business is crucial for success.

In this guide, we’ll walk you through the steps to start a used car dealership business, from understanding the industry to leveraging API technology to maximize efficiency and profitability.

Used Car Dealership Business

Operating a used car dealership business involves buying, selling, and sometimes trading used vehicles. Simply put, it’s a place where you can purchase or sell a used car. It’s a dynamic industry that requires a deep understanding of automotive market trends, customer preferences, and legal regulations.

Steps on starting a used car business

So, how can you get started? Here are the basic steps to follow to set up your dealership:

Think and act like an entrepreneur

Starting a car dealership comes with the understanding that you’re about to become an entrepreneur and need to prepare your mindset for that. Not only that, you need to make some serious changes to your lifestyle as well. Check out how other entrepreneurs act and think, you can also take entrepreneurial classes. Taking this step before any other gives you a sense of detail and responsibility.

During this process, you should focus on getting experience with selling cars, business license requirements, and surety bonds, and you’ll need to learn the difference between selling new cars and used cars – as a salesperson, working side-by-side with dealers, whatever role you can get, try to get one. It’s best to start on the right foot.

Arrange Capital for Startup Costs

Every small business for new and used car sales needs funds, and before starting up a used car business, you need to find a way to get some means of funding. Apart from the car inventory that you definitely need to build, you also need to cover startup costs for:

• Business registration
• Car dealer license
• Office supplies and furniture
• Workers; salespeople, accountants, etcetera
• Website and mobile applications with Vehicle APIs .
• Marketing, and more.

You may also encounter lots of expenses during startup, so you need to consider costs.

Choose market location

The next step to take in owning a car dealership is choosing the right location for your used car business. There are several factors you need to consider before choosing the right location to set up your dealership, the most important of which is the current market trend.

What kind of cars are more profitable to invest in the long run? What is the demand for those cars now? Where do you see demand in the coming years? What age group are interested in these cars? What about income levels? Ask yourself questions like these to figure out what vehicle brands or types of cars your dealership will be centered on.

When you figure out what your niche should be, you can now start searching for a suitable location to launch your business. Make sure to be very careful when making this step as it is a really important part of your business’ journey.

Create a solid business plan and set financial goals

Creating a comprehensive business plan is essential for success in the used car dealership industry. This foundational document serves as a roadmap, guiding entrepreneurs through all they need to start, grow their businesses, and meet their business needs. To begin, entrepreneurs must clearly outline their:

Company details , including their vision, mission, and values. This clarity helps set the tone for the business and aligns all stakeholders towards common objectives.

• T arget market area,  this is crucial for identifying potential customers and tailoring marketing strategies accordingly. Whether focusing on a specific geographic region or niche demographic, understanding the target market’s needs and preferences is paramount for success.

Clear financial goals and strategies for growth. Entrepreneurs must define measurable objectives, such as revenue targets, profit margins, and market share aspirations.

By establishing these benchmarks, businesses can track their progress and adjust strategies as needed to stay on course. Additionally, outlining strategies for growth enables entrepreneurs to identify expansion opportunities, whether through diversifying inventory, expanding into new markets, or enhancing customer service offerings.

You can consider yourself halfway through the process as soon as you complete your business plan! Next, you should think about how you can make a profit with the business.

READ ALSO: 5 Types of Vehicle Data API Every Dealership Needs

Making Profits in the Car Dealership Business

Now that you have everything scripted and figured out, the next step is to decide how to get cars to fill up your inventory and how to make profits. This involves sourcing vehicles, implementing sales strategies, getting a website/mobile applications, and optimizing operations for profitability and growth. Let’s take a look at these points in more detail:

Locate car auctions exclusive for dealers

Now, the used car dealership business model involves buying used vehicles at a cheaper price and selling them with some profit. For startups, the easiest way to get great deals is by visiting dealer-only car auctions around you. These cars are usually sold at cheap rates and discounts to licensed dealers and you can take advantage of this.

Sure, these cars may come as damaged, but that’s where the next step comes in.

Have an experienced mechanic

Next, you can partner up with an experienced mechanic with good knowledge in inspecting and fixing the cars on your used-car lot. Some auction vehicles may have severe damages, so it is recommended to place the highest importance on this step.

With these vehicles properly fixed and in road-worthy condition. You can now begin sales.

Provide Warranties on Your Vehicles

I know what you may be thinking. Including warranties as extra-cost add-on products means that these vehicles will be more expensive than planned and car shoppers may not like that. Wrong!

Contrary to popular belief, around 66% of American drivers purchase an extended car warranty. Offering warranty coverage also gives consumers some protection, in terms of repairs.

Create a website/mobile application and utilize APIs

Creating a professional website or mobile application for your auto dealership is essential and must provide accurate information about your business. However, ensuring accuracy in providing vehicle data is paramount. By utilizing APIs, you can access real-time and reliable information about each vehicle in your inventory.

What are APIs? They are like bridges between you and an infinite source of vehicle information. Vehicle Databases offers several vehicle APIs including:

• VIN decoding APIs
• Vehicle history APIs
• Market value API
• Vehicle specifications API
• Classic VIN decoding API
• License plate API
• Auction history API
• Sales history API
• Vehicle media API, and more

Imagine showing your customers everything they need to know about all vehicles in your inventory with the VIN and integrated APIs. This ensures transparency and builds customer trust, leading to increased sales and customer satisfaction.

Accuracy vehicle data also streamlines the buying process, reducing the likelihood of disputes or returns. Need more information on APIs and how you can get started? Get a free demo and 15 free credits now!

Place Adverts and Build Your Online Presence

At this point, you need to get the word out to get a successful business. You can start by using advertising channels to reach potential customers. Consider online platforms like Google Ads, Facebook Ads, and local classified websites. Additionally, explore traditional methods such as newspaper ads, radio spots, and flyers.

Leverage social media platforms (e.g., Instagram, Facebook, Twitter) to showcase your inventory, share success stories, and engage with your audience. Regularly post high-quality images and videos of the cars you have for sale.

Calculate a “Bottom Dollar” for Each Vehicle

Determine the lowest price at which you’re willing to sell cars in your inventory. Consider factors such as acquisition cost, refurbishment expenses, and desired profit margin. Be realistic about market conditions and adjust your pricing strategy accordingly.

Try to stay informed about market trends and competitor pricing. Analyze similar vehicles in your area to understand the prevailing rates. Remember that pricing too high can deter buyers, while pricing too low may impact profitability.

Prioritize Customer Service

Here are some tips:

Free Inspections and VIN Reports: Offer free vehicle inspections or provide Vehicle Identification Number (VIN) reports. These services build trust with potential buyers and demonstrate transparency.

Integrated Vehicle History APIs: Use APIs (Application Programming Interfaces) to access vehicle history data. Share relevant information with customers, such as accident history, maintenance records, and ownership details.

• Hire Assistants and Salespeople: Invest in a skilled sales team. Friendly, knowledgeable staff can guide customers through the buying process, answer questions, and address concerns. Excellent customer service leads to repeat business and positive referrals.

Keep the car lot and showroom neat and attractive

The last tip for the day is to keep your used car lot and showroom organized and visually appealing. Arrange vehicles in an orderly manner, ensuring they are clean and well-presented. Regularly wash and detail the cars to enhance their visual appeal.

If you can keep these in mind, you can be sure to have a good start and operate an independent car dealership successfully.

Statistics About Used Car Dealerships

• Total used-vehicle sales in December 2023 were estimated to be around 2.6 million units, up 2.1% from December 2022.
• Retail used sales accounted for approximately 1.4 million units.
• The average car dealership receives 166 qualified sales leads each month.
• Approximately 13.3% of sales prospects do not make it into the car dealership’s Customer Relationship Management (CRM) system.
• The average close rate for car dealerships is 12.5%.
• Car dealerships miss approximately 8.5% of calls from potential sales prospects.
• In 2023, franchised light-vehicle dealers in the United States sold 13.7 million light-duty vehicles, contributing to a total sales value of over $1.2 trillion.
• The U.S. used car dealer market had a size of $138.1 billion in 2021. Despite initial pandemic-related challenges, used car sales rebounded and exceeded pre-pandemic levels.
• The overall used-vehicle market likely finished 2023 near 35.9 million units, slightly below the previous year’s figure. Retail used sales likely closed out 2023 at 19.0 million units.
• Cox Automotive forecasts used-vehicle sales volume to reach 36.2 million units in 2024, with used retail sales estimated at 19.2 million units. The market is expected to regain some normalcy, although supply constraints may persist due to lower new-vehicle sales in previous years.

Frequently Asked Questions

Used car businesses can be highly profitable for dealers, with successful operations generating significant revenue. However, profitability depends on various factors such as market conditions, inventory management, pricing strategies, and customer service quality. You also need to be able to provide accurate vehicle information to consumers at all times. Visit Vehicle Databases to get access to accurate APIs for your business needs.

To succeed in the used car business, it’s essential to prioritize customer satisfaction, maintain transparency, and offer quality vehicles at competitive prices. Additionally, staying informed about market trends, investing in marketing efforts, and leveraging technology like APIs can contribute to success.

Yes, buying and selling used cars can be a profitable venture. By sourcing quality inventory, accurately pricing vehicles, and providing value-added services such as warranties and inspections, dealers can generate profits from each sale.

Owning a used car business has the potential to be profitable, but success depends on various factors including market demand, competition, location, and operational efficiency. By implementing effective strategies, offering excellent customer service, and staying adaptable to market changes, dealerships can achieve profitability and long-term success in the industry.

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Car Dealership Business Plan Template

Written by Dave Lavinsky

Car Dealership Business Plan

Over the past 20+ years, we have helped over 4,000 entrepreneurs create business plans to start and grow their car dealerships. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a car dealership business plan template step-by-step so you can create your plan today.

Download our Ultimate Car Dealership Business Plan Template here >

What Is a Car Dealership Business Plan?

A business plan provides a snapshot of your car dealership as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for Your Car Dealership

If you’re looking to start a car dealership or grow your existing car dealership you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your car dealership in order to improve your chances of success. Your car dealership business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Car Dealership Businesses

With regards to funding, the main sources of funding for a car dealership are personal savings, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a car dealership is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

Finish Your Business Plan Today!

Your business plan should include 10 sections as follows:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of car dealership you are operating and the status; for example, are you a startup, do you have a car dealership that you would like to grow, or are you operating a chain of car dealerships.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the car dealership industry. Discuss the type of car dealership you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of car dealership you are operating.

For example, you might operate one of the following types:

• New Car Dealers : this type of car dealership business typically sells both new and used passenger vehicles. Usually, this type of dealership also has a service department and also sells parts.
• Used Car Dealership : this type of car dealership sells used passenger vehicles, including cars, light trucks, sports utility vehicles (SUVs) and passenger vans.
• Online Car Dealership : this type of car dealership retails automobiles online to consumers and businesses and provides services to aid in the purchase of automobiles. Some players offer their customers trade-in, car financing and car selling services.

In addition to explaining the type of car dealership you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the car dealership business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the car dealership industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards vehicles, it would be helpful to ensure your plan calls for plenty of options.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your car dealership business plan:

• How big is the car dealership business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your car dealership. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your car dealership business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: college students, soccer moms, baby boomers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of car dealership you operate. Clearly baby boomers would want a different atmosphere, pricing and product options, and would respond to different marketing promotions than college students.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most car dealerships primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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With Growthink’s Ultimate Car Dealership Business Plan Template you can finish your plan in just 8 hours or less!

Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other car dealerships.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This primarily includes private sellers. You need to mention such competition to show you understand that not everyone in the market for a car shops at a dealership.

With regards to direct competition, you want to detail the other car dealerships with which you compete. Most likely, your direct competitors will be car dealerships located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What types of automobiles do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to stand outside your competitors’ locations and ask customers as they leave what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior products and/or services?
• Will you provide cars that your competitors don’t offer?
• Will you make it easier or faster for customers to acquire your products?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a car dealership business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of car dealership that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to selling new cars, will you offer leasing options?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the inventory you will maintain and the price ranges.

Place : Place refers to the location of your car dealership. Document your location and mention how the location will impact your success. For example, is your car dealership located next to a high-traffic retail area, or on a main thoroughfare, etc. Discuss how your location might provide a steady stream of customers.

Promotions : the final part of your car dealership marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Making your car dealership extra appealing to attract passing customers
• Pay per click advertising
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites
• Social media advertising
• Local radio advertising
• Banner ads at local venues

Building Trust

Building trust between a car dealer and its customers is vital to a successful sales strategy. This should be clear in the business plan, where funders look to see the feasibility of the company once it’s launched. Earning customer trust is important because of the bad reputation, deserved or not, for car salespeople to try to take advantage of customers and because of the high amount of stress which the purchase of a large item like a car causes for buyers.

Below are the best ways to build trust in your customers.

Referrals and Testimonials

Running a dealership with a heavy focus on satisfied customers referring other potential customers can create positive word-of-mouth between contacts who already know and trust each other. An additional element to this is securing testimonial statements (either written or videotaped) from happy customers. This requires having those happy customers in the first place, as customers can sense if the testimonials are canned and will mistrust even further.

Transparency

If auto dealerships were extremely clear about all pricing, fees, and costs of ownership up front, customers might change their opinion of these companies. However, too often there is a great focus on a low sticker price to attract customers who later on feel they’ve been lied to when all of the add-on charges are explained. Can your dealership change this industry practice and make transparency into a competitive advantage?

Taking Your Time

By taking the sales process at a rate that the customer is comfortable with, you recognize that it is a difficult step for customers to walk into the world of the dealer and play on his home turf, so to speak. They will be feeling defensive and a bit thrown off, so tell them that you will take the time to answer any questions they have and to make sure they understand and have considered their options before moving forward.

Operations Plan

While the earlier sections of your car sales business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your car dealership such as serving customers, completing necessary paperwork, keeping the dealership clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your car dealership’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the car dealership business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in car dealerships and/or successfully running retail and small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 20 customers per week or 75? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your car dealership, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a $1,000,000 fleet order, that would cost you $500,000 to fulfill. Well, in most cases, you would have to pay that $500,000 now for inventory, transportation, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During that 180 day period, you could run out of money.

In developing your Income Statement and Balance Sheets, be sure to include several of the key costs needed in starting or growing a car dealership:

• Location build-out including design fees, construction, etc.
• Cost of equipment like computer hardware and software, etc.
• Cost of maintaining an adequate amount of supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

Car Dealership Business Plan Summary

Putting together a business plan for your car dealership is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the car dealership business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful car dealership business.

Car Dealership Business Plan PDF

You can download our car dealership business plan PDF here or use our sample car dealership business plan to help you get started on your own business plan.

For the quickest and easiest way to complete your business plan, Growthink’s Ultimate Car Dealership Business Plan Template has numerous features not available in the free template including automated financial projections which calculate your complete five-year financial projections including income statements, balance sheets, and cash flow statements.

Don’t you wish there was a faster, easier way to finish your Car Dealership business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s business plan advisors can give you a winning business plan.

Other Helpful Automotive Business Plan Articles & Templates

Used Car Dealership Business Plan Template

Written by Dave Lavinsky

Used Car Dealership Business Plan

You’ve come to the right place to create your Used Car Dealership business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Used Car Dealerships.

Below is a template to help you create each section of your Used Car Dealership business plan.

Executive Summary

Business overview.

Reliable Motors is a used car dealership located in Portland, Oregon. We specialize in offering a wide selection of high-quality used vehicles to customers in our local area. With a focus on exceptional customer service and competitive pricing, we aim to become the preferred choice for individuals looking to purchase reliable pre-owned vehicles.

Reliable Motors is run by Otto Masterson. Otto has 12 years of experience in vehicle sales and dealership operations. His customer-centric approach, and strong understanding of the local market will ensure that our firm is successful.

Product Offering

Reliable Motors offers a diverse inventory of used cars, trucks, SUVs, and vans from various makes and models. Our selection includes vehicles that are carefully inspected, tested, and certified to meet our stringent quality standards. We also provide vehicle history reports and offer extended warranties for added peace of mind. Our knowledgeable sales team is committed to assisting customers in finding the right vehicle that suits their needs and budget.

Customer Focus

Our primary target market includes individuals and families in Portland, Oregon who are looking to purchase a reliable used vehicle. We will cater to customers with various budgets, offering a range of price points to accommodate different financial situations. Additionally, we will also establish partnerships with local businesses, such as car rental companies and auto repair shops, to provide them with fleet vehicles and maintenance services.

Management Team

Reliable Motors’ most valuable asset is the expertise and experience of its founder, Otto Masterson. Otto has been in automotive sales for the past 20 years. Throughout his career, he has developed a strong base of repeat customers, many of whom have stated that they will buy their next car from Reliable Motors once the company is established and running. Otto’s customer-centric approach, and strong understanding of the local market will ensure that our firm is successful.

Success Factors

Reliable Motors will achieve success by offering the following competitive advantages:

• Quality Inventory: We will ensure our inventory consists of well-maintained and reliable used vehicles that meet our strict quality standards.
• Competitive Pricing: We will offer competitive prices to attract customers and provide value for their money. Our pricing strategy will consider market trends, vehicle condition, and fair market value.
• Exceptional Customer Service: We will prioritize customer satisfaction by providing a personalized and hassle-free buying experience. Our knowledgeable and friendly sales team will assist customers in finding the right vehicle that meets their needs and budget.
• Transparent Processes: We will establish trust by providing accurate vehicle information, pricing details, and facilitating open communication.
• Strong Industry Partnerships: We will collaborate with reputable suppliers, finance institutions, and service providers to enhance our offerings and provide additional benefits to customers.

Financial Highlights

Reliable Motors is seeking $1,000,000 in funding to establish and grow the business. The funds will be allocated as follows:

• Inventory acquisition: $800,000
• Renovation and setup of the dealership facility: $100,000
• Marketing and advertising expenses: $50,000
• Working capital: $50,000

The projected financials indicate steady revenue growth and profitability within the first three years of operation

Company Overview

Who is reliable motors.

  Reliable Motors is run by Otto Masterson, a 12 year veteran in vehicle sales and dealership operations. After working for several dealerships around town, he surveyed his most loyal customers to see if they would be willing to switch to his new dealership once it is established. Most of his customers responded enthusiastically, which motivated Otto to finally launch his business.

Reliable Motors History

Once he canvassed his loyal customer base and located a potential location, Otto Masterson incorporated Reliable Motors as an S-Corporation in April 2023.

The business is currently being run out of Otto’s home office, but once the purchase of the dealership location is finalized, all operations will be run from there.

Since incorporation, Reliable Motors has achieved the following milestones:

• Found a location and made an offer of purchase
• Developed the company’s name, logo, and website
• Hired an architect to design the lot, the service area, and the office building
• Determined equipment and fixture requirements
• Began recruiting key employees

Reliable Motors Services

Reliable Motors will provide the following services to its customers:

• Vehicle Sales: offer an inventory of used cars, trucks, SUVs, and vans, catering to various customer preferences and budgets.
• Financing Assistance: assistance with financing options through partnerships with local banks and financial institutions.
• Trade-ins: Customers will have the option to trade in their current vehicles, allowing them to apply the value toward their purchase at Reliable Motors.

Industry Analysis

The used car industry is experiencing steady growth, driven by factors such as rising new car prices, improved vehicle reliability, and a growing preference for cost-effective transportation options.

The used car industry is expected to grow over the next several years. According to a recent report by IBISWorld, the used car dealerships industry is expected to grow at a CAGR of 1.2% from now until 2028. This growth is due to increasing environmental consciousness, which has caused many consumers to avoid purchasing new automobiles. This increase in demand and industry growth ensures that Reliable Motors will achieve success.

This industry presents a significant opportunity for Reliable Motors to cater to customers seeking quality used cars at competitive prices.

Customer Analysis

Demographic profile of target market.

Reliable Motors primarily targets individuals in the Portland area who are in the market for a reliable and affordable pre-owned vehicle. By understanding our customers’ needs and providing a personalized buying experience, we aim to build long-lasting customer relationships.

Customer Segmentation

Reliable Motors will primarily target the following customer profiles:

• First-time car buyers
• Professionals
• Individuals

Competitive Analysis

Direct and indirect competitors.

Reliable Motors faces competition from both direct and indirect competitors in the used car dealership industry. Direct competitors include other local dealerships offering similar vehicle options. Indirect competitors include online marketplaces and private sellers.

AutoWheels is a used car dealership that carries a large variety of used cars, trucks, SUVs, and vans. Their line of car brands include Chevrolet, Dodge, Ford, Jeep, and Toyota. AutoWheels’ focus is offering clean, newer model used cars with affordable monthly payments. The dealership offers flexible financing approval for buyers with any credit score or financial situation.

AutoWheels partners with Portland Precision Auto Care for its automotive maintenance and repair needs. This partnership enables AutoWheels to offer services that include Car and Truck care, Electronic Services, Electrical Services, General Services, Heating and Cooling Services, Engine & Transmission, Miscellaneous Services, Transmission Services, Undercar Services, and Brakes.

James Rivers Automotive Outlet

Located in Portland’s Sellwood-Moreland neighborhood, James Rivers Automotive Outlet is a member of the James Rivers Family-Owned and Operated group of dealers in Portland. The dealership carries a large inventory of new, certified pre-owned, and pre-owned line of cars, trucks, SUVs, and vans. Their line of vehicles are in all price ranges and body types. James Rivers Automotive Outlet also offers trade-in evaluations at their other franchised stores – James Rivers Honda, Acura, and Toyota. The dealership also offers affordable financing options.

Eastside Used Cars

Established in 2011, Eastside Used Cars is a family-owned used car dealership. The dealership is fully internet based and all sales are by appointment only, in one of two locations: Sandy and Gresham. The dealership claims to have the best prices in the market, offering wholesale prices to the public. Customers may also expect to receive top dollar for their trade-ins.

The dealership currently offers an inventory of 175 vehicles, ranging in price from $6,990 to $60,800. It offers a variety of finance options for consumers with all levels of credit, but outside financing is welcomed.

Competitive Advantage

Reliable Motors holds the following advantages over the competition:

• Rigorous Vehicle Inspection : Each vehicle in our inventory undergoes a thorough inspection to ensure its mechanical and cosmetic condition, providing customers with peace of mind.
• Customer-Centric Approach : We prioritize customer satisfaction by offering personalized assistance, transparent pricing, and a hassle-free buying experience.
• Extensive Inventory : Our diverse inventory caters to various customer preferences and budgets, ensuring a wide range of options to choose from.

Marketing Plan

Brand & value proposition.

Reliable Motors will offer a unique value proposition to its clientele:

• Client-focused automotive sales, where the customer is treated fairly, with transparent pricing and a variety of financing options
• Service built on long-term relationships
• Top-quality automotive repair and maintenance, at competitive prices

Promotions Strategy

The promotions strategy for Reliable Motors is as follows:

Reliable Motors understands that the best promotion comes from satisfied customers. The Company will encourage its customers to refer other businesses by providing economic or financial incentives for every new customer produced. This strategy will increase in effectiveness after the business has already been established.

Social Media

Reliable Motors will invest heavily in a social media advertising campaign. The company will create social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Website/SEO Marketing

Reliable Motors will invest heavily in developing a professional website that showcases current inventory, and provides valuation tools for potential trade-ins. It will also invest heavily in SEO so that the firm’s website will appear at the top of search engine results.

Operations Plan

The following will be the operations plan for Reliable Motors. Operation Functions:

• Otto Masterson is the Owner of Reliable Motors. In addition to providing inventory management and sales, he will also manage the general operations of the business.
• Otto Masterson is joined by a full-time administrative assistant, Mandy Bobo, who will take charge of the administrative tasks for the company. She will also be available to answer incoming calls and make service appointments.
• As the company builds its customer base, Otto will hire more sales professionals to grow our business further.

Milestones:

Reliable Motors will have the following milestones completed in the next six months.

• 6/2023 Finalize location purchase
• 7/2023 Design and build out Reliable Motors
• 8/2023 Hire and train initial staff
• 9/2023 Kickoff of promotional campaign
• 10/2023 Launch Reliable Motors
• 11/2023 Reach break-even

Reliable Motors’s most valuable asset is the expertise and experience of its founder, Otto Masterson. Otto has been in automotive sales for the past 20 years. Throughout his career, he has developed a loyal customer base, many of whom have stated that they will switch to Reliable Motors when it comes time to purchase a new vehicle. Otto’s customer-centric approach, and strong understanding of the local market will ensure that our dealership is successful.

Though he has never run his own business, Otto Masterson worked his way up from automotive sales associate to sales manager, where he gained an in-depth knowledge of the operations (e.g., running day-to-day operations) and the business (e.g., staffing, marketing, etc.) sides of the industry. He also already has a starting customer base that he served while working for other auto dealerships. He will hire several other employees who can help him run the aspects of the business that he is unfamiliar with.

Financial Plan

Key revenue & costs.

Reliable Motors’s revenues will from vehicle sales, with additional income generated through financing options and after-sales services. Key costs include

The notable cost drivers for the company will include inventory acquisition, overhead expenses, marketing expenses, personnel costs, and facility maintenance.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

• Number of clients:
• Year 1: 400
• Year 2: 500
• Year 3: 750
• Year 4: 1000
• Year 5: 1250

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Used Car Dealership Business Plan FAQs

What is a used car dealership business plan.

A used car dealership business plan is a plan to start and/or grow your used car dealership business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Used Car Dealership business plan using our Used Car Dealership Business Plan Template here .

What are the Main Types of Used Car Dealership Businesses? 

There are a number of different kinds of used car dealership businesses , some examples include: Franchised dealership, Independent dealerships, and “Bad Credit” dealerships.

How Do You Get Funding for Your Used Car Dealership Business Plan?

Used Car Dealership businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Used Car Dealership Business?

Starting a used car dealership business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Used Car Dealership Business Plan - The first step in starting a business is to create a detailed used car dealership business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your used car dealership business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your used car dealership business is in compliance with local laws.

3. Register Your Used Car Dealership Business - Once you have chosen a legal structure, the next step is to register your used car dealership business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your used car dealership business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Used Car Dealership Equipment & Supplies - In order to start your used car dealership business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your used car dealership business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful used car dealership business:

• How to Start a Used Car Business

Where Can I Get a Used Car Dealership Business Plan PDF?

You can download our free used car dealership business plan template PDF here . This is a sample used car dealership business plan template you can use in PDF format.

Car Dealership Business Plan Template & PDF Example

• August 27, 2024
• Business Plan

Creating a comprehensive business plan is crucial for launching and running a successful car dealership. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your car dealership’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a car dealership business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the retail industry, this guide, complete with a business plan example, lays the groundwork for turning your car dealership business concept into reality. Let’s dive in!

Our car dealership business plan is meticulously organized to encompass all key components necessary for a comprehensive strategic framework. It details our dealership’s operations, marketing strategies, market environment, competitors, leadership team, and financial outlook.

• Executive Summary : Offers an overview of your Car Dealership’s business concept, including the range of new and pre-owned vehicles, market analysis , management team, and financial strategy.
• Car Dealership & Location: Describes the dealership’s prime location, accessibility, and facility features, including the showroom and service area.
• Vehicles & Rates: Lists the types of vehicles offered, from economical compact cars to luxury SUVs, including pricing and financing options.
• Key Stats: Shares industry size , growth trends, and relevant statistics for the car dealership market.
• Key Trends: Highlights recent trends affecting the car dealership sector, such as the surge in Electric Vehicle (EV) sales and the shift towards Built-to-Order sales.
• Key Competitors: Analyzes main competitors in the area and how your dealership differentiates itself, focusing on vehicle selection, customer service, and additional services like maintenance and repairs.
• SWOT : Strengths, weaknesses, opportunities, and threats analysis tailored to the car dealership business.
• Marketing Plan : Strategies for promoting your dealership and attracting customers, including online presence, targeted promotional campaigns, and community engagement.
• Timeline : Key milestones and objectives from the initial setup through the first year of operation and beyond.
• Management: Information on who manages the Car Dealership, detailing their roles, experience in the automotive industry, and business management.
• Financial Plan: Projects the dealership’s 5-year financial performance, including revenue from vehicle sales, profit and loss statements, cash flow analysis, and balance sheet.

Car Dealership Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your car dealership’s business plan, providing a succinct overview of your dealership and its offerings. It should describe your market positioning, the range of vehicles you offer—including new and pre-owned cars, financing options, and after-sales services—its location, size, and an overview of daily operations.

This section should also delve into how your car dealership will establish itself within the local market, including the number of direct competitors in the area, identifying who they are, along with your dealership’s unique selling points that set it apart from these competitors.

Moreover, you should include information about the management and founding team, detailing their roles and contributions to the dealership’s success.

Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be included here to provide a clear picture of your dealership’s financial strategy.

Car Dealership Business Plan Executive Summary Example

Business Overview

An effective executive summary starts with a concise yet informative  business overview . This includes spotlighting the dealership’s name, its prime location, and an insight into its daily operations.

Highlighting the  unique selling proposition  ( USP ) is vital. Whether it’s the dealership’s commitment to customer service excellence, a diverse inventory offering various vehicle brands, or personalized after-sales services, this distinct factor sets the dealership apart in a competitive automotive market.

Example: “[Your Company Name],” situated in the heart of [City/Region], operates as a premier car dealership. Spanning a spacious facility, it offers various vehicles catering to diverse customer preferences, ranging from economical compact cars to luxury SUVs. Our dealership’s USP lies in delivering an extensive selection of top-tier vehicle brands such as Toyota, Ford, BMW, and Tesla, combined with a commitment to comprehensive after-sales support, financing options, and access to a state-of-the-art service center.

Market Overview

A compelling executive summary includes an insightful market overview. It should encompass  market size , growth trends, and an analysis of the  competitive landscape  within the automotive dealership industry.

Example: The US car dealership market represents $614 billion in total vehicle sales in 2022. Notably, the average yearly revenue per dealership stands at approximately $36.5 million, emphasizing the significance of each dealership’s role in the market. Recent trends illustrate a surge in Electric Vehicle (EV) sales, doubling in 2022, while a shift towards Built-to-Order sales aligns with evolving consumer preferences for personalized vehicles. The market is characterized by a mix of national dealership chains and independent local dealers, with [Your Company Name] poised to carve a niche by providing a diverse vehicle inventory and unparalleled customer service.

Management Team

The proficiency and expertise of the management team are integral to the success of your car dealership. This section aims to spotlight the qualifications and experiences of key team members, emphasizing their pivotal roles in steering the dealership toward success.

Highlighting the team’s expertise in managing financial operations, budgeting, financial analysis, and ensuring the dealership’s financial stability and growth builds credibility and assures potential investors and partners of the dealership’s capability.

Example: [Your Company Name] is led by a proficient management team with a wealth of experience in overseeing financial operations, budgeting, and analysis. Their expertise in identifying cost-saving  opportunities , ensuring financial stability, and driving sustained growth for the dealership forms the backbone of our operations.

Financial Plan

The financial plan section encapsulates the strategic fiscal objectives and projections of your car dealership. It offers a concise overview of revenue targets and profit margins and outlines the trajectory guiding the dealership’s financial growth.

Example: As part of our strategic growth plan, [Your Company Name] aims to attain a significant milestone by achieving $38 million in yearly revenue and a commendable  operating profit  margin ( EBITDA ) by 2028. This strategic trajectory involves maintaining competitive pricing structures, a relentless focus on operational efficiency, and an unwavering commitment to delivering unparalleled customer service. These strategies, coupled with the dedication of our adept team, aim to ensure consistent growth and profitability for the dealership in the years ahead.

For a Car Dealership, the Business Overview section can be effectively divided into 2 main categories:

Car Dealership & Location

Describe the dealership’s physical setup, focusing on its design, layout, and overall ambiance that welcomes customers. Mention features such as the showroom’s size, the display arrangement of vehicles, and any customer-friendly areas like waiting lounges or consultation spaces.

Next, highlight the dealership’s location, emphasizing its accessibility and the convenience it offers to customers, such as proximity to major roads or highways and the ease of parking. Also, explain why this location is strategically chosen to attract your target customer base, considering factors like local traffic flow, visibility, and the presence of nearby complementary businesses.

Vehicles & Rates

Detail the variety of vehicles offered, including new and pre-owned models, different brands, and vehicle types (such as sedans, SUVs, trucks, and electric vehicles). Emphasize any unique or highly sought-after models that could attract customers.

Outline your pricing strategy for the vehicles, ensuring it reflects the value offered and aligns with the market segment you’re targeting. Discuss any financing options, leasing deals, or special promotions that make purchasing more accessible and appealing to customers.

Industry Size & Growth

In the Market Overview of your car dealership business plan, begin by analyzing the size of the automotive industry and its growth potential. This examination is essential for grasping the market’s breadth and pinpointing opportunities for expansion.

Key Market Trends

Next, delve into current market trends , such as the growing consumer interest in electric and hybrid vehicles, advanced safety features, and digital sales platforms. Highlight the demand for vehicles that cater to evolving lifestyle needs and environmental concerns, along with the shift towards online purchasing and personalized buying experiences.

Competitive Landscape

A  competitive analysis  is not just a tool for gauging the position of your car dealership in the market and its key competitors; it’s also a fundamental component of your business plan. This analysis helps in identifying your car dealership’s unique selling points, essential for differentiating your business in a competitive market.

In addition, the competitive analysis is integral in laying a solid foundation for your business plan. By examining various operational aspects of your competitors, you gain valuable information that ensures your business plan is robust, informed, and tailored to succeed in the current market environment.

Identifying Your Competitors in the Car Dealership Industry

The initial step towards understanding your dealership’s position involves identifying and analyzing the key competitors within the automotive market. Start by mapping out local car dealerships, both independent and franchised, specializing in similar vehicle types or brands.

For instance, if your dealership specializes in luxury vehicles, your direct competitors might include other luxury dealerships within your vicinity, as well as larger franchised dealerships offering similar high-end car models. Additionally, consider indirect competitors such as online car sales platforms or used car dealerships, as they may cater to overlapping customer segments.

Leverage online tools and platforms such as dealership locators on automotive brand websites, Google Maps, and industry-specific platforms like Edmunds or Cars.com to gain insights into competitor locations and their inventory offerings. 

Analyzing customer reviews and ratings on platforms like Yelp or DealerRater can provide valuable information about competitor  strengths and weaknesses . For instance, positive reviews praising the customer service or wide vehicle selection at a rival dealership highlight aspects crucial for comparison.

Car Dealership Competitors’ Strategies

An in-depth analysis of your competitors’ strategies involves scrutinizing various facets of their operations:

• Vehicle Inventory:  Evaluate the range and variety of vehicles offered by competitors. If a nearby dealership gains traction with electric or hybrid models, it signifies an emerging  market trend  towards eco-friendly vehicles that might influence consumer preferences.
• Sales and Financing Approach:  Consider the sales tactics and financing options employed by competitors. A dealership offering flexible financing plans or exclusive warranty packages may attract customers seeking added value.
• Customer Service and Support:  Assess the quality of customer service and post-sale support provided by competitors. A dealership known for its responsive customer service or efficient maintenance services may have a competitive edge.
• Marketing and Promotion:  Study competitors’  marketing strategies , whether they rely on digital marketing, traditional advertising, or exclusive promotional events. A dealership leveraging social media influencers or hosting test-drive events could have a unique marketing approach.
• Technological Integration:  Observe if competitors embrace innovative technologies in their operations, such as virtual showrooms or online vehicle customization tools. A dealership utilizing augmented reality for virtual car tours might stand out in enhancing the customer experience.

What’s Your Car Dealership’s Value Proposition?

Reflect on your dealership’s distinct  value proposition . Perhaps your dealership specializes in rare vintage car collections or offers personalized concierge services for clients. Identifying gaps in the market through customer feedback and emerging industry trends is crucial.

For instance, the increasing demand for electric vehicles or the emphasis on contactless transactions could signify opportunities for differentiation if competitors have yet to fully cater to these preferences.

Consider your dealership’s location and target demographic. A dealership situated in a bustling urban area might prioritize convenience and streamlined services, while one in a suburban setting might emphasize family-oriented vehicle options and comprehensive safety features.

Begin with a SWOT analysis for the car dealership , identifying Strengths (such as a diverse vehicle inventory and strong customer service), Weaknesses (like limited market presence or competitive pressure), Opportunities (for instance, the growing demand for electric vehicles and online sales channels ), and Threats (such as economic fluctuations affecting consumer spending on big-ticket items).

Marketing Plan

Then, craft a marketing plan that details strategies to attract and retain customers through targeted advertising campaigns, promotional financing offers, a dynamic online presence, and community engagement events.

Marketing Channels

Marketing channels for a car dealership serve as pathways to communicate your brand and vehicle offerings to potential buyers. These channels are vital for establishing brand awareness, engaging with customers, and driving foot traffic to your showroom.

Digital Marketing

In today’s digital era, a robust online presence is imperative. This includes:

• Social Media : Utilize platforms like Instagram and Facebook to showcase your inventory, share informative car-related content, and engage with users through comments and direct messages.
• Website and SEO:  Develop a user-friendly website displaying your inventory, customer testimonials, and blog posts about car buying tips and industry updates. Implement SEO strategies to enhance your dealership’s online visibility.
• Email Marketing:  Build an email list by offering incentives like exclusive previews of new vehicle arrivals or maintenance tips. Send regular newsletters with updates on promotions, vehicle features, and industry news.

Local Advertising

Connecting with your local community can yield substantial results:

• Radio and TV Ads:  Utilize local radio stations or television channels to broadcast ads highlighting special deals, seasonal promotions, or unique vehicle models.
• Community Involvement:  Sponsor local events, charity drives, or sports teams to boost brand visibility and forge community connections.
• Partnerships:  Collaborate with complementary businesses like insurance agencies or car maintenance centers to offer bundled services or joint promotional deals.

Promotional Activities

Captivate potential buyers with compelling offers:

• Special Promotions:  Launch seasonal sales events such as ‘Year-End Clearance’ or ‘Summer Road Trip Deals.’ Offer discounts or incentives for test drives.
• Referral Programs:  Incentivize existing customers to refer friends and family by offering discounts on services or accessories for successful referrals.
• Customer Appreciation Events:  Organize exclusive events or workshops showcasing vehicle features, safety tips, or new technological advancements.

Sales Channels

Sales channels  are instrumental in selling vehicles and additional services to customers. These channels optimize revenue and ensure customer satisfaction.

In-Showroom Upselling

Maximize sales opportunities during customer visits:

• Additional Features:  During test drives or vehicle selection, highlight premium features or upgrades available for specific models.
• Service Packages:  Offer bundled maintenance packages or extended warranties to add value to the purchase.
• Finance and Insurance Services:  Educate customers about financing options and insurance packages available through the dealership.

Online Sales and Services

Leverage technology for efficient sales processes:

• Online Inventory Access:  Enable customers to browse your inventory, check vehicle specifications, and schedule test drives through your website or dedicated mobile application.
• Virtual Showroom Experience:  Offer virtual tours or interactive presentations of vehicles, providing a comprehensive experience for online buyers.
• E-Commerce:  Facilitate online transactions for accessories, spare parts, or merchandise associated with the vehicles you sell.

Customer Retention Programs

Encourage repeat business and foster loyalty:

• Maintenance Plans:  Offer subscription-based maintenance plans for regular servicing and upkeep of purchased vehicles.
• Customer Support and Engagement:  Establish a customer service department for addressing queries, and feedback, and providing ongoing support post-purchase.
• Exclusive Benefits: I mplement membership or loyalty programs offering discounts on future purchases, priority servicing, or VIP events. These programs foster a sense of belonging and incentivize customers to continue their relationship with your dealership.

Strategy Timeline

Lastly, establish a comprehensive timeline that marks key milestones for the dealership’s launch, marketing initiatives, customer base development, and growth goals, ensuring the business progresses with clarity and focus.

The Management section focuses on the car dealership business’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the car dealership toward its financial and operational goals.

For your car dealership business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your car dealership’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs , and capital expenditures.

For your car dealership business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

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Privacy Overview

How to Start a Used Car Dealership: A Definitive Guide

If your love for used cars ranks above enthusiast, it may be time to take things to the next level.

Ever thought about owning your own dealership? We’re going to tell you how! Our exclusive interview with Carlos Becerra of Imports & Classics helped reveal the details on starting a used car dealership.

As Carlos explains, starting a car dealership takes some investment in time and money. However, with the right location and a passion for the car business, you can be successful in the industry.

Follow this guide and you’ll be well on your way to becoming your region’s top car dealer.

1. Become an entrepreneur… Or at least get in the mindset!

Carlos had been an entrepreneur his entire life before he even got into the classic car business. He didn’t grow up with a lot and when he wanted something, his parents encouraged him to ask, “How are you going to get it?”

As Carlos said, “At some point, everybody needs to make a decision. And he made that decision at a very young age.”

While his friends were probably playing video games, Carlos was selling berries on the side of the road from fifth grade through high school. He was smart with his money and saved up enough to purchase his first car.

Watch the full interview with Carlos here :

If you’re entering into the dealership of cars, then you too will need to make some decisions about the course of your life. That means getting into the entrepreneurial mindset.

You alone will be responsible for your business and its success. It’s not a decision to be taken lightly, but remember, the rewards have no ceiling. And ultimately, you are in control your time.

To help with your mindset, here’s a list of essays from Paul Graham that are focused on entrepreneurship. He has helped fund over 800 startups over the course of his career. Ever heard of Reddit, Airbnb, Stripe, and Dropbox?

If you don’t want to build from the ground up, find active listings near you, and buy a dealership that’s already operational.

What does it take to start a used car dealership?

If you’re starting a used car business, you better like being around cars. But it’s not enough to just love cars, you have to know about how the car business works.

Carlos gained his knowledge of the industry by flipping cars. After selling his first car, he went to auctions to find cars that would sell for a profit and upgraded to classic cars. If you have the liquid capital to do this, it can be a great way to gain knowledge of the car business.

It helps if you have some base knowledge of how to value a car . Here are some resources to get you started:

• Kelley Blue Book
• Consumer Reports

Get a job as a car salesperson to gain experience.

But if you’re new to the industry, consider some training courses from an accredited institution like the National Automobile Dealers Association or find a job at a local car dealership to get some experience with how car dealerships work.

The U.S. Bureau of Labor Statistics ranks automotive salespeople under the retail sales workers classification, and within that class, automotive dealers have the highest median hourly wage of all retail sales workers.

You can work hard at this position and be one of the highest paid retail workers in the U.S. job market! Which is good because you’ll need that capital and skills like accounting, sales negotiation, social media and web management, finance, and more when you start your used car business.

These are all skills that fall into the entrepreneurial mindset.

2. Organize your startup costs.

Like any business, you’ll need some capital to get things started, and a used car dealership has a lot of startup costs associated. It’s important to get everything organized before you begin.

How much does it cost to start a used car dealership?

There are many aspects to think about when opening up a used car dealership, so let’s break it down step by step based on Carlos’ plan. However, we won’t sugarcoat it. The simple answer is that used car businesses cost anywhere from $50k to $500k (even for a small operation) based on your location and business plan.

Here’s a list of startup costs:

• Business Registration
• Auto Dealer Bond
• Auto Dealership License
• Other licenses (health, fire, software, etc.)
• Business Attorney
• Location (deposit)
• Marketing and Branding (website, social media, flyers, etc.)
• Office Supplies
• Inventory (largest cost, plus insurance)

Business registration, auto dealership licenses and dealer bonds

These three startup costs are the inescapable fees associated with any auto dealership and the most important to ensure you’re running a legal operation.

Complete your business registration at the federal and state levels . The fees vary from state to state based on the type of business you want to create (limited partnership, sole proprietorship, limited liability company, or corporation). It’s best to work with an accountant to find the best option.

Next, to get your auto dealership license, every state requires that you have an auto dealer bond. This is a type of surety bond that protects customers from fraud and the amount differs by state ($30k in Washington, $25k in Texas, $100k in Arizona).

Last, you’ll need an auto dealership license from the state in which you’ll be doing business. The costs vary by state, and in some states, like Washington , costs can run over $1,000 after completing the required training courses.

Additional and ongoing costs

In this guide, we’re not talking about full-on restoration work like Carlos does at his garage. However, any used car dealing business will need to account for maintenance or low-level restoration work associated with the inventory. It’s a cost that’s commonly underestimated, so don’t make that mistake.

Think of it this way, AAA averages the annual maintenance cost of owning a used car at $792 per year ($66 per month). While you won’t be using a car at a consumer level, you will need to maintain the vehicle until you sell it and factor that cost into your business plan.

If you can do the work yourself , you’ll save a lot of money in the long run.

Other ongoing costs associated with the car dealership business:

• Payroll (if hiring salespeople or office help)
• Advertising

3. Knowing Your Market and Choosing a Location

Once you have your initial costs figured into your business plan, it’s time to do the hard work that could make or break your business. You need to understand your market and factor that into your business plan before making any investment into the business.

Conduct market research and find your niche

• Income level
• Marital Status

You also need to factor in your own referrals from friends, relatives, and perhaps former colleagues if you’ve been in the auto business for a while.

These elements help to determine the clients you want to do business with when you open. The U.S. Small Business Administration has great resources to help businesses determine their market.

It’s the due diligence you would conduct for opening any type of business, and knowing your market will help you choose a niche. Here are some examples:

• Luxury Vehicles
• Multi-brand (make/model) Car Dealership
• Classic or Collector Cars
• Online-Only Dealership

Your niche will help you choose a location.

Location, Location, Location

It’s the first rule of real estate, and it’s one of the biggest costs you’ll figure into your business plan.

Based on your market, you want to be sure that your location can support your business. That means it is affordable and visible. Often, dealerships open near one another in direct competition because it gives customers the opportunity to quickly shop for the vehicle of their choice.

We posed the question to Carlos: So if we were to open up a dealership across the street, what would you do? His response was,

Do I need a physical location to sell cars?

Starting a used car dealership from home is one way to avoid a lot of startup and operational costs. It’s certainly possible and many used car dealers are based from home.

Carlos started this way with an online based classic car business where he stored the cars in his mother’s driveway. He said,

However, you need to check your state and local laws (city and county) on storing used cars.

Also, a serious online and social media presence is necessary to be successful without a physical location. If you’re not up to speed on current SEO and web marketing trends, you need to hire a highly capable webmaster and marketing team.

Otherwise, you may want to consider buying a business with an established online following.

4. Inventory

In our interview with Carlos, he explained that you need to be very careful about what you buy and that your target demographic would probably differ completely from his. It’s all based on location.

How do I know what to buy and sell?

Carlos explained about his region:

Some questions you can ask when choosing your inventory:

• Do we have weather conditions in my area that would warrant a specific style of car?
• Is there an industry in the area where workers require trucks or other larger vehicles?
• Are there a lot of families in my area where I could easily market SUVs or Minivans?

It’s up to you to determine what sells very well in your region and to your target market. Edmunds Industry Insights is a great resource for statistical information to help you figure it out.

Researching local car selling marketplaces online can also help you determine what’s selling on the market.

Where am I going to buy the inventory for my dealership?

It takes a lot of effort to find cars to resell on the retail market for a profit. Because of this, most dealers get their inventory from dealer-only auction companies.

The auctions are one of the major reasons (aside from selling multiple cars per year legally) that you’ll need your dealer license. Here’s a list of the top dealer-only auction companies in the U.S.:

• ACV Auctions

But don’t limit yourself to dealer-only auctions. There are several great auto auction sites out there where you can find great deals on used cars that can be sold for a profit.

• eBay Motors
• Auto Auction Mall
• A Better Bid (search normal wear)
• Purple Wave

5. Funding Your Car Dealership

We can talk about startup costs, location, and inventory all day, but to come up with the funds to get things rolling, you’ll need a solid business plan.

What’s in a Car Dealership Business Plan?

For any business to be successful, you need to have a solid business plan to start. It’s also essential if you plan to apply for a business loan to get your dealership off the ground. Make sure your plan includes the following items:

• Executive Summary of the Business
• Objectives and Mission Statement
• Keys to Success
• Company Summary
• Market Analysis
• Management Summary
• Financial Plan

And even if you don’t plan to apply for outside funding , a business plan is necessary to owning a car dealership. It provides the vision and structure your business needs to be successful. Without a plan, a business is destined to fail.

How can I start a car dealership with no money?

Learning how to open a car dealership is hard enough on its own but opening one with no money will be even more difficult. However, it’s not impossible.

Your business plan is the key tool you’ll use to pitch to potential investors and financial lenders. Just know that most lenders require a business to be established and in business for several years before they’ll lend money.

Other options

It is possible, with good credit, to get a credit card with a 0% introductory rate. In Step 4 of our article on how to open a gym , we explain how entrepreneur Jake Brog leveraged his credit to launch a successful gym business.

With that, you could fund a small inventory (1 – 2 vehicles) and pay off the credit card debt before accruing any interest charges. It’s a risk, but with a great business plan, the payoff could be rewarding and help jump-start your dealership.

However, most car dealerships start the way Carlos began his: with money from his own pocket.

6. Volume and Financial Goals

When figuring out how to start a car dealership, you must quickly establish the financial goals for the business.

Buying a car and selling it for a profit is great, but your dealership needs to do it at a high volume to cover the costs of the business and make money. As Carlos said,

Figuring out your volume is all contingent on your financial goals. If you’re a small, one person dealership, with little overhead, your volume could easily be only three to four cars per month to cover your expenses and make a decent profit.

However, as you grow your operation, your volume will need to increase to sustain your business. Look at Carlos’ goal:

Is owning a used car dealership profitable?

The quick answer is yes—if you have a good business plan and knowledge of the industry, car dealerships are a profitable venture. In fact, the Cox Automotive Market Insight Report recently confirmed that the gross profit margin of used cars is now nearly double that of new ones, which is great news for used car dealerships.

Auto industry leaders like Edmunds are putting out great press for independent used car lots, which is helping to drive up sales nationally.

How much does a used car dealership owner make?

How much you make is up to you!

It’s hard to pinpoint exactly how much used car dealers make. Comparably puts the average between $18,902 to $495,413, which is a tremendous gap.

Remember that in entrepreneurial ventures, you get out of the business what you put into the business. As Carlos said in the interview,

7. Customer Service

Here are some key tips you can use to present great customer service before and after the sale:

• Loyalty is king. If you create loyal customers, you’ll stay in business forever.
• A great attitude goes a long way with a potential customer.
• Be genuine. People don’t like to be sold to, but they like it when someone genuinely wants to solve their problems.
• Your sales floor and office reflects your customer service. Keep a clean environment!
• If you can give your customers an amazing experience from start to finish, they’ll recommend you to others.
• Just because the customer is off the lot, it doesn’t mean the service is over. Call to check and see how things are going.

Now go out and sell some cars!

Now that you know all of the basics on how to start a used car dealership, it’s time to get out there and start selling! It can be a tough industry to break into, but with determination and a good entrepreneurial mindset, you’ll be slinging used cars in no time. You might also find starting a rental company attractive if you like the idea of owning a dealership.

Can you think of any other aspects of opening a dealership or have valuable information to add?

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• Sample Business Plans
• Retail, Consumers & E-commerce

Car Dealership Business Plan

A car dealership is a company that sells new or used vehicles to the general public under the terms of a dealership agreement with a carmaker or its sales subsidiary. Car dealerships are rewarding because they are connected to both the wholesale and retail markets.

Are you looking to start writing a business plan for your car dealership business? Creating a business plan is essential to starting, growing, and securing funding for your business. We have prepared a car dealership business plan template for you to help in start writing yours.

Free Business Plan Template

Download our free car dealership business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write a Car Dealership Business Plan?

Writing a car dealership business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire business plan is ready. Here are some components to add to your summary:

• Start with a brief introduction: Start your executive summary by introducing your idea behind starting a car dealership business and explaining what it does.
• Market opportunity: Describe the target market in brief, and explain the demographics, geographic location, and psychographic attributes of your customer. Explain how your car dealership business meets its needs. Clearly describe the market that your business will serve.
• Mention your services: Briefly describe the services that a client can expect from your business like new and used cars, maintenance and repairs of the car, car rental services, etc.
• Management team: Name all the key members of your management team with their duties, responsibilities, and qualifications
• Financial highlights: Provide a summary of your financial projections for the company’s initial years of operation. Include any capital or investment requirements, startup costs, projected revenues, and profits.
• Call to action: After giving a brief about your business plan, end your summary with a call to action, for example; inviting potential investors or readers to the next meeting if they are interested in your business.

Ensure you keep your executive summary concise and clear, use simple language, and avoid jargon.

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2. Business Overview

Depending on what details of your business are important, you’ll need different elements in your business overview. Still, there are some foundational elements like business name, legal structure, location, history, and mission statement that every business overview should include:

• The name of the car dealership business and the concept behind it: new car dealership, used car dealership, small car dealership, luxury car dealership, private seller, online retailer, or something else.
• Company structure of your car dealership business whether it is a sole proprietorship, LLC, partnership firm, or others.
• Location of your car dealership and the reason why you selected that place.
• Ownership: Describe the owners of your dealership business and mention their roles in running it. Whose shares in the corporation are they, and how each owner helps in the business?
• Mission statement: Add a mission statement that sums up the objectives and core principles of your business. This statement needs to be memorable, clear, and brief.
• Business history: If you are already running this business, including an outline of the business’s history and how it came to be in its current position. If you can, add some personality and intriguing details, especially if you got any achievements or recognitions till now for your incredible services.
• Future goals: It’s crucial to convey your aspirations and your vision. Include the vision of where you see your business in the near future and if you have any plans of opening a new franchise of your business in the same city in the future.

This section should provide an in-depth understanding of your car dealership business. Also, the business overview section should be engaging and precise.

3. Market Analysis

Market analysis provides a clear understanding of the market in which your car dealership business will run along with the target market, competitors, and growth opportunities. Your market analysis should contain the following essential components:

• Target market: Identify your target market and define your ideal customer. Know more about your customers and which services or cars they prefer.
• Market size and growth potential: Provide an overview of the industry. It will include market size, trends, growth potential, and regulatory considerations. Highlight the competitive edge and how your car dealership business is different from the rest.
• Competitive analysis: Identify and analyze all other dealerships in the local market, including direct and indirect competitors. Evaluate their strengths and weaknesses, and explain how your business can offer qualitative services.
• Market trends: Analyze current and emerging trends in your industry, such as changes in technology or customer preference as in the shift towards automatic cars. Explain how your business will cope with all the trends.
• Regulatory environment: Describe any regulations or licensing requirements that affect the car dealership, such as insurance, dealer’s license, zoning permits, or safety codes.

Some additional tips for writing the market analysis section of your business plan:

• Use a variety of sources to gather data, including industry reports, market research studies, and surveys.
• Be specific and provide detailed information wherever possible.
• Include charts and graphs to help illustrate your key points.
• Keep your target audience in mind while writing the business plan.

4. Products And Services

The product and services section of a car dealership business plan should describe the specific services and products that will be offered to customers. To write this section should include the following:

• Create a list of the services that your car dealership will offer, which may luxury cars, new cars, used cars, maintenance, repairs, etc.
• Describe each product and service: For each service, provide a detailed description of what it entails, and the qualifications of the professionals who will provide the service.
• Emphasize safety and quality: In all descriptions of services and products, emphasize the importance of safety and quality. Explain how your car dealership will ensure that all services and products are delivered with the highest standards of safety and efficacy.

Overall, a business plan’s product and services section should be detailed, informative, and customer-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

• Develop your unique selling proposition (USP): Clearly define your unique selling proposition – it might be your pricing, the range of vehicles you offer, after-sales service, digital experience, specialization in vintage, hybrid, or sports cars, or any other aspect that distinguishes you from the competition.
• Determine your pricing strategy: Develop a pricing strategy that is competitive and affordable, yet profitable. Consider offering promotions, discounts, or packages to attract new customers.
• Marketing strategies: Develop a marketing strategy that includes a mix of online and offline marketing tactics. Consider social media, email marketing, content marketing, brochures, print marketing, and affiliating with online car buying/selling options.
• Sales strategies: Mention your sales strategy as in – offer incentives and promotions to attract new customers, or partner with other businesses to establish referral programs that can help you generate more business. Consider offering incentives for referrals or special discounts for partnerships.

Overall, the sales and marketing strategies section of your business plan should outline your plans to attract and retain customers and generate revenue. Be specific, realistic, and data-driven in your approach, and be prepared to adjust your strategies based on feedback and results.

6. Operations Plan

When writing the operations plan section, it’s important to consider the various aspects of your business processes and procedures involved in operating a business. Here are the components to include in an operations plan:

• Hiring plan: Tell the staffing requirements of your car dealership, including the number of employees needed, their qualifications, and the duties they will perform. Also mention the perks you will provide to your employees.
• Operational process: Outline the processes and procedures that you will use to run your car dealership business. It includes the scheduling of appointments, meeting with clients, and everything else.
• Inventory management: Provide details on how frequently new vehicles will be purchased, how the inventory will be cycled, and how the dealership will make sure it has a variety of automobiles to suit the demands of its clients in your inventory management plan.

By including these key elements in your operations plan section, you can create a comprehensive plan that outlines how you will run your car dealership business.

7. Management Team

The management team section provides an overview of the individuals responsible for running the car dealership business. This section should provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

• Key managers: Describe the key members of your management team, their roles, and their responsibilities. It should include the owners, and senior management including their education, professional background, and any relevant experience in the industry.
• Organizational structure: Describe the organizational structure of the management team, including reporting lines and how decisions will be made.
• Compensation plan: Describe your compensation plan for the management team and staff, including salaries, bonuses, and other benefits.
• Board of advisors: If you have a board of advisors for your business, then mention them along with their roles and experience.

Describe the key personnel of your company and highlight why your business has the fittest team.

8. Financial Plan

When writing the financial plan section of a business plan, it’s important to provide a comprehensive overview of your financial projections for the first few years of your business.

• Profit & loss statement: Create a projected profit & loss statement that describes the expected revenue, cost of products sold, and operational costs. Your business’s anticipated net profit or loss should be computed and included.
• Cash flow statement: Estimate your cash inflows and outflows for the first few years of operation. It should include cash receipts from clients, payments to vendors, loan payments, and any other cash inflows and outflows.
• Balance sheet: Prepare a projected balance sheet, which shows the assets, liabilities, and equity.
• Break-even point: Determine the point at which your car dealership business will break even, or generate enough revenue to cover its operating costs. This will help you understand how much revenue you need to generate to make a profit.
• Financing needs: Estimate how much financing you will need to start and operate your car dealership business. It should include both short-term and long-term financing needs, such as loans or investment capital.

Remember to be realistic with your financial projections, and to provide supporting evidence for all of your estimates.

9. Appendix

When writing the appendix section, you should include any additional information that supports the main content of your plan. This may include financial statements, market research data, legal documents, and other relevant information.

• Include a table of contents for the appendix section to make it easy for readers to find specific information.
• Include financial statements such as income statements, balance sheets, and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
• Provide market research data, such as statistics on the size of the industry, consumer demographics, and trends in the industry.
• Include any legal documents such as permits, licenses, and contracts.
• Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
• Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your car dealership business should only include relevant and important information that supports the main content of your plan.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This car dealership business plan sample will provide an idea for writing a successful business plan, including all the essential components of your business.

After this, if you are still confused about how to write an investment-ready business plan to impress your audience, then download our car dealership business plan pdf .

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Frequently asked questions, why do you need a car dealership business plan.

A business plan is essential for anyone looking to start or run a successful car dealership. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your car dealership business.

How to get funding for your car dealership business?

There are several ways to get funding for your car dealership business, but one of the most efficient and speedy funding options is self-funding. Other options for funding are:

• Bank loan – You may apply for a loan in government or private banks.
• Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria before applying for it.
• Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your car dealership, usually online.
• Angel investors – Getting funds from angel investors is one of the most sought options for startups.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your car dealership business?

There are many business plan writers available, but no one knows your business and idea better than you, so we recommend you write your car dealership business plan and outline your vision as you have in your mind.

What is the easiest way to write your car dealership business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any car dealership business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Starting a Small Used Car Business

• Small Business
• Types of Businesses to Start
• Starting a Car Business
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How to Open an Import Car Dealership

How to wholesale cars, how to sell off the remainder of a lease.

• How to Operate a Used Car Business
• How to Start Motorcycle Dealerships & Imports

Owning even a small used car dealership entails much more than just putting some cars on a lot and waiting for customers to come along. It requires knowledge of the cars, expertise in their features and differences, knowing competitive prices of similar models and how to arrange vehicle financing. Before you even put the first "For Sale" sign on a windshield, you'll need to select a location, understand local licensing requirements and have a plan for acquiring your first vehicles.

Develop a Business Plan

Before beginning your venture, it's important to develop a business plan. A business plan should include an analysis of your industry, your local market as well as projected financial returns, including when you expect your business to break even.

A business plan serves multiple purposes: getting your business ideas out on paper can help you to identify challenges and weaknesses in your plan. In addition, by running financial projections, you can determine whether your revenue model is a feasible one.

You should also be aware that investors and lenders will want to see a business plan before deciding to work with you. A quality business plan can help you secure the financing that you need.

Apply for Financing 

Unless you already have the money necessary to get your business started, you'll have to seek financing. There are several options for financing, including loans and seeking investors.

Before pursuing financing, it's important to make sure that your own finances are in good order. Some lenders and investors will want to check your personal credit, so check your credit reports and correct any errors. If your credit scores on the low side, take necessary steps to pay off your debt and improve your score before seeking business funding.

Choosing a Location

Select a visible location with easy access from main roads. Ensure that your site has plenty of parking for your vehicle inventory as well as your customers’ vehicles. Before you commit to a lease, or make improvements to the property, consult with your local zoning office to ensure that you can legally establish your business at that location.

Dealer Licensing Requirements

Contact your state Motor Vehicle Administration to obtain requirements for a vehicle dealer’s license. Although state regulations vary, you must satisfy criteria relative to building size and location, signage and operating hours. You’ll also need to post a state-determined surety bond. Finally, you’ll need to strictly adhere to state Lemon Laws and deceptive advertising regulations.

In Texas, for example, vehicle dealer licensing falls under the purview of the Texas Department of Transportation. You’ll need a general distinguishing number, which identifies your dealership in the eyes of the state. You must meet several stringent requirements to receive this number. Other licenses and permits may be required as well.

Sales Tax Administration

Sales tax must be collected on all vehicles you sell, and you must remit that tax according to your state-determined payment schedule. Contact your state's Comptroller of Public Accounts to obtain a sales tax permit, and to determine your state’s procedure for the collection and payment of vehicle sales tax.

Selecting and Hiring Staff

Hire outgoing people experienced in handling many types of customers. Although automobile sales experience is desirable, salespeople who have sold other big-ticket items, such as boats or expensive jewelry, may also be prospects. Each salesperson must contact your state’s Motor Vehicle Administration for licensing requirements. Finally, hire a maintenance worker to prepare the vehicles for sale.

Acquiring Vehicles to Sell

Ask family, friends and business associates to contact you regarding vehicles they want to sell. Call vehicle owners who have “For Sale” classified ads in local newspapers, vehicle trader publications and online trader websites. Travel to local or regional vehicle auctions to purchase vehicles in good or better condition. Finally, hang signage that conforms to dealership requirements and announces that you’re ready to accept vehicles for sale.

Create a Marketing Plan

How do you plan to attract new customers for your automobile business? You may wish to hire a marketing professional to work for your company or contract with an outside firm. Drafting a brand logo is an essential first step in establishing your business.

Other options for marketing include developing a website and a presence on social media platforms. From there, you can purchase online and off-line advertising that directs customers to your website as well as your physical location. Direct mail marketing is also an option, as is advertising in local newspapers and magazines.

Grand Opening Celebration

Schedule a grand opening event to showcase your spiffed-up cars and trucks. Offer sale pricing that follows dealer guidelines and offers customers an exceptional value. Serve refreshments and feature live music to attract curious visitors who may stop and browse. Advertise your grand opening celebration in the automotive section of local newspapers, and place flyers at local automotive parts and service facilities.

• Bureau of Labor Statistics: Motor Vehicle and Parts Dealers
• The Unofficial DMV Guide: Dealers & Auto Industry: Choose Your State
• The Unofficial DMV Guide: Dealer Licensing: Texas

Based in North Carolina, Felicia Greene has written professionally since 1986. Greene edited sailing-related newsletters and designed marketing programs for the New Bern, N.C. "Sun Journal" and New Bern Habitat ReStore. She earned a Bachelor of Science in business administration from the University of Baltimore.

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Car Dealership

Back to All Business Ideas

How to Open a Car Dealership and Thrive in the Market

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on December 20, 2021 Updated on July 1, 2024

Investment range

$29,750 - $112,600

Revenue potential

$500,000 - $2 million p.a.

Time to build

1 – 3 months

Profit potential

$200,000 - $300,000 p.a.

Industry trend

Here are the most important considerations when you are starting your car dealership business:

• Location — The location should align with the demographics of your target market. For example, luxury car dealerships might do better in affluent areas, while economy models might sell better in more diverse economic areas.
• Licenses — You will need a dealer license to sell new and used cars. Many states also require car dealers to have a surety bond , which provides financial assurance that the dealer will adhere to state regulations and laws.
• Specialization — Specializing in certain types of vehicles, brands, or service offerings can help your car dealership stand out and attract more customers.
• Insurance — Consider different types of insurance, such as general liability, property, garage keepers, and inventory insurance, to manage the risks associated with car dealerships.
• Register your business — A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple. Form your business immediately using ZenBusiness LLC formation service or hire one of the best LLC services on the market.
• Legal business aspects — Register for taxes, open a business bank account, and get an EIN .
• Franchises — Here are some of the best franchises to consider: Ford Motor Company , Toyota Motor Sales, U.S.A., Inc ., and General Motors (GM) .
• Online presence — Take your car dealership business online and create a professional website where you can showcase your vehicles and add specifications.
• Inventory management — Invest in robust inventory management software to track inventory in real-time.

Interactive Checklist at your fingertips—begin your car dealership today!

You May Also Wonder:

Is owning a car dealership profitable?

The new and used car industry in the United States is worth over a trillion dollars, and even a small used car dealership can tap into a share of that. You can markup used cars between 25% and 45% so your profit margins will be healthy.

What car has the highest profit margin?

The Ford F-Series and Range Rover have the highest profit margin. Next is the GMT 800. 

What is the most profitable part of a car dealership?

Used cars tend to be more profitable than new cars. It’s best for car dealerships to bring in revenue from new cars, used cars, and repairs.

What is the growth potential of car dealership?

The growth potential of a car dealership is really unlimited. You can expand to multiple locations in your area, or even across the country. 

Step 1: Decide if the Business Is Right for You

Pros and cons.

Every business, including a car dealership, has pros and cons that you should consider before deciding whether it’s right for you.

• Socializing — You’ll meet and work with a lot of people every day
• Steady demand — Somebody is always in need of a quality ride
• Good money — Cars have big profit potential that can drive growth
• Startup costs — An inventory of cars does not come cheap
• Long hours — Most dealerships are open 10–12 hours six days a week

Car Dealership Industry Trends

Hybrid and electric vehicles are among the hotter trends in the car industry. Tesla and its electric cars have been in the spotlight for years, and seem to be popping up everywhere lately. Market research firm Statista reports that Tesla sales amounted to almost two million in 2023. Eco-friendly auto options such as superior fuel efficiency and lighter-weight cars made of composite materials are in demand, as are digital safety features such as forward-collision warnings and automatic emergency braking.(( https://www.statista.com/statistics/502208/tesla-quarterly-vehicle-deliveries/ ))

Despite a 40% price increase since March 2020, as reported by the US Bureau of Labor Statistics, consumers are flocking to the used car market due to supply chain disruptions for new cars. This presents a significant opportunity for the smart and aggressive entrepreneur.(( https://www.bls.gov/news.release/cpi.t01.htm ))

Another industry trend is the ongoing shift to the online marketplace, which is no longer just for new cars. Shift, Vroom, and Carvana are major online players in this market, selling nearly 250,000 used cars combined in the first half of 2021.(( https://www.bloomberg.com/news/articles/2021-09-28/used-car-sales-vroom-carvana-shift-thrive-during-pandemic#xj4y7vzkg ))

Industry Size and Growth

• Industry size and past growth — Market analyst IBISWorld values the US new car market at an incredible $1.2 trillion(( https://www.ibisworld.com/industry-statistics/market-size/new-car-dealers-united-states/ )) and the used car dealers market at $173.1 billion(( https://www.ibisworld.com/industry-statistics/market-size/used-car-dealers-united-states/ ))  
• Growth forecast — Car sales have yet to recover from the pandemic-driven slump, but are predicted to grow 2.6% in 2024 alone.(( https://www.statista.com/statistics/267128/outlook-on-worldwide-passenger-car-sales/ ))
• Number of businesses — The US is home to almost 70,000 new car dealers(( https://www.ibisworld.com/industry-statistics/number-of-businesses/new-car-dealers-united-states/ )) and more than 130,000 used car dealers.(( https://www.ibisworld.com/industry-statistics/number-of-businesses/used-car-dealers-united-states/ ))
• Number of people employed — New car dealers employ more than 1.1 million people(( https://www.ibisworld.com/industry-statistics/employment/new-car-dealers-united-states/ )), while used car dealers have only around 260,000 employees.(( https://www.ibisworld.com/industry-statistics/employment/used-car-dealers-united-states/ ))

Trends and Challenges

• Hybrids, plug-in hybrids, and pure battery electric vehicles are gaining popularity
• Direct-to-consumer vehicle sales are increasing
• Consumers would rather buy a car online than go physically to a dealership
• Rising car prices due to tight supply and high demand
• Growing consumer preference for ride-sharing apps
• High fuel prices

Consumer Spending

• Average consumer spend — The average American household spends $10,728 a year to own and operate a new vehicle. Most of these costs go towards insurance and car payments.(( https://newsroom.aaa.com/2022/08/annual-cost-of-new-car-ownership-crosses-10k-mark/ ))
• Potential customer base — A majority of US households own at least one car.(( https://www.statista.com/statistics/551403/number-of-vehicles-per-household-in-the-united-states/ ))
• Average prices — Automotive research company Kelley Blue Book says the average price of a new car in the US topped $47,000 for the first time in December 2021(( https://www.kbb.com/car-news/average-new-car-price-tops-47000/ )) and has remained pretty much the same during the last couple of years. According to this company, a used car sells for an average of $25,328.(( https://www.kbb.com/car-news/averaged-used-car-price-down-4-since-last-year/ ))

Price Differences Across the Country

• More expensive — The five states where it’s most expensive to buy a used car are Wyoming, Alaska, Montana, North Dakota, and South Dakota.
• Less expensive — The five states where it’s least expensive to buy a used car are Vermont, New Hampshire, Ohio, Hawaii, and Rhode Island.(( https://www.iseecars.com/used-car-prices-by-state-study ))

What Kind of People Work in Car Dealerships?

• Gender — 71% of car dealers in the US are male, while 29% are female.(( https://www.zippia.com/car-dealer-jobs/demographics/#gender-statistics ))
• Average level of education — 41% of car dealers hold a bachelor’s degree.(( https://www.zippia.com/car-dealer-jobs/demographics/#degree-level-types ))
• Average age — The average age of a car dealer in the US is 41 years old.(( https://www.zippia.com/car-dealer-jobs/demographics/#age-statistics ))

How Much Does It Cost to Start a Car Dealership?

Startup costs for a car dealership range from around $30,000 for a small used car lot to well over $100,000 for a large new car dealership. The biggest expense is, of course, the initial inventory of vehicles, though you can start small with just a handful of used cars and a great website.

How Much Can You Earn From a Car Dealership?

Markups on used cars range from 25% to 45%, while the average markup on a new car is 8% to 13%. You can use our markup calculator to calculate your sale price and how much revenue and profit you will earn with different markup percentages. When you work by yourself, your profit margin should be around 40%. The average price of a used car is about $25,000. But at least initially you will probably be handling lower-priced cars, so let’s assume you start selling used cars for an average price of $10,000.

In your first year or two, you could run your own used car lot and sell 50 cars in a year, bringing in $500,000 in annual revenue. This would mean $200,000 in profit, assuming that 40% margin. As your brand gains recognition, sales could climb to 200 cars a year. But due to your new staff, your margin would fall to around 15%, the industry average. With an expected annual revenue of $2 million, you’d have a pre-tax profit of $300,000.

What Barriers to Entry Are There?

There are a few barriers to entry for a car dealership. Your biggest challenges will be:

• Costs — All those cars will cost a pretty penny, even used
• Competition — You will face competition from physical and online dealers

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Step 2: hone your idea.

Now that you know what’s involved in starting a car dealership, it’s a good idea to hone your concept in preparation to enter a competitive market.

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an Opportunity

Research car dealerships in your area to see what they offer. Maybe there’s no used car dealership that offers warranties or focuses on lower-priced used cars. You’re looking for a gap in the market in a particular part of town that you can fill.

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as only used trucks or classic American models like Mustangs and Camaros.

This could jumpstart your word-of-mouth marketing and attract clients right away.

What? Determine What Kind of Cars and Additional Services Your Dealership Will Offer

First, determine what kinds of cars you want to specialize in. You can offer used cars, new cars, or both, but you also need to determine if you’re going to offer value-priced models or higher-end models. Then determine what else you might offer, such as:

• Financing options
• Repair and maintenance services

In addition to a car dealership, you can also incorporate a motorcycle dealership into your business.

How Much Should You Charge for Cars?

The typical markup for used cars ranges from 25% to 45% and the markup for new cars is between 8% and 13%. If you specialize in used cars, your price will depend on what price you can acquire cars for. You’ll need to know the value of various models, so you’ll want to keep the Kelley Blue Book nearby, to provide value estimates. You should purchase cars at below market value so that you can mark them up to a reasonable price. For new cars, you’ll be marking up from the wholesale price offered by the manufacturer.

Once you know your costs, you can use our profit margin calculator to determine your markup and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify Your Target Market

Your target market will depend on what type of cars you decide to specialize in. If you sell used cars that are lower priced, your customers may be younger, so you are more likely to find them on sites like Instagram or TikTok rather than Facebook.

Where? Choose Your Car Dealership Location

You’ll probably want to rent a location that has a big enough lot for you to park your cars, and it should be big enough for you to grow. You can sell cars online, but you still need a lot to store them. It should also have a structure that you can use as an office.

You should choose a location with a lot of road traffic but you also need a great website to make online sales. You can find commercial space to rent in your area on Craigslist , Crexi , and Commercial Cafe .

When choosing a commercial space, you may want to follow these rules of thumb:

• Central location accessible via public transport
• Ventilated and spacious, with good natural light
• Flexible lease that can be extended as your business grows
• Ready-to-use space with no major renovations or repairs needed

Step 3: Brainstorm a Car Dealership Name

Here are some ideas for brainstorming your business name:

• Short, unique, and catchy names tend to stand out
• Names that are easy to say and spell tend to do better
• The name should be relevant to your product or service offerings
• Ask around — family, friends, colleagues, social media — for suggestions
• Including keywords, such as “cars” or “used cars,” boosts SEO
• Choose a name that allows for expansion: “Premier Automotive Group” over “Electric Car Dealership”
• A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Discover over 300 unique car dealership name ideas here . If you want your business name to include specific keywords, you can also use our car dealership name generator. Just type in a few keywords, hit Generate, and you’ll have dozens of suggestions at your fingertips.

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that set your business apart. Once you pick your company name and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Car Dealership Business Plan

Here are the key components of a business plan:

• Executive summary — A brief overview outlining the business’s mission, goals, and key highlights to provide a snapshot of the entire car dealership business plan
• Business overview — A comprehensive description of the car dealership, including its history, mission, vision, and key objectives, to give readers a clear understanding of the business
• Product and services — Detailed information on the range of cars and related services offered by the dealership, emphasizing unique selling points and value propositions
• Market analysis — An in-depth examination of the automotive market, identifying target demographics, market trends, and potential opportunities for the car dealership
• Competitive analysis — Evaluation of competitors in the automotive industry, highlighting strengths, weaknesses, and strategies to position the dealership effectively
• Sales and marketing — Strategies for promoting and selling cars, including advertising, promotions, and customer relationship management to drive sales and brand awareness
• Management team — Introduction and background of key individuals responsible for managing and steering the car dealership, emphasizing their expertise and roles
• Operations plan — Details on day-to-day operations, from inventory management to customer service, ensuring a smooth and efficient running of the dealership
• Financial plan — A comprehensive financial overview, including projections, budgets, and funding requirements, providing a clear picture of the dealership’s financial health and sustainability
• Appendix — Supplementary materials such as charts, graphs, and additional data supporting the information presented in the business plan

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business!

Choose Where to Register Your Company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you are planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to a car dealership.

If you’re willing to move, you could really maximize your business! Keep in mind that it’s relatively easy to transfer your business to another state.

Choose Your Business Structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your car dealership will shape your taxes, personal liability, and business registration requirements, so choose wisely.

Here are the main options:

• Sole proprietorship — The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
• General partnership — Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
• Limited Liability Company (LLC) — Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
• C Corporation — Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
• S Corporation — This refers to the tax classification of the business but is not a business entity. A corporation or an LLC can elect to be an S Corp for tax status. In an S Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

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Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number or EIN. You can file for your EIN online, or by mail/fax. Visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you are completing them correctly.

Step 7: Fund Your Business

Securing financing is your next step and there are plenty of ways to raise capital:

• Bank loans — This is the most common method, but getting approved requires a rock-solid business plan and a strong credit history.
• SBA-guaranteed loans — The Small Business Administration can act as a guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
• Government grants — A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
• Venture capital — Offer potential investors an ownership stake in exchange for funds, keeping in mind that you would be sacrificing some control over your business.
• Friends and family — Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
• Crowdfunding — Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
• Personal — Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best options, other than friends and family, for funding a car dealership. You might also try crowdfunding if you have an innovative concept.

Step 8: Apply for Car Dealership Business Licenses and Permits

Starting a car dealership requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You need to meet the requirements of your state to get a dealer license, and you need an Auto Dealer Bond as required by your state.

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your car dealership as a sole proprietorship. Opening a business bank account is quite simple and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

• General liability — The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
• Business property — Provides coverage for your equipment and supplies.
• Equipment breakdown insurance — Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
• Worker’s compensation — Provides compensation to employees injured on the job.
• Property — Covers your physical space, whether it is a cart, storefront, or office.
• Commercial auto — Protection for your company-owned vehicle.
• Professional liability — Protects against claims from clients who say they suffered a loss due to an error or omission in your work.
• Business owner’s policy (BOP) — This is an insurance plan that acts as an all-in-one insurance policy, a combination of any of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business.

Essential Software and Tools

Being an entrepreneur often means wearing many hats — from marketing to sales to accounting — which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks.

You may want to use industry-specific software, such as CDK Global and vAuto , to manage your inventory and sales.

• Popular web-based accounting programs for smaller businesses include Quickbooks , FreshBooks , and Xero . 
• If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences of filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop Your Website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using website builders . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech savvy, you can hire a web designer or developer to create a custom website for your business.

However, people are unlikely to find your website unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

Here are some powerful marketing strategies for your future business:

• Professional branding — Create a consistent and polished brand identity across all marketing channels to establish trust and recognition.
• Local SEO — Optimize your online presence with a user-friendly website and leverage local business platforms like Yelp and Google My Business to boost visibility.
• Direct outreach — Forge partnerships with local businesses and community organizations to tap into corporate sales and local promotions.
• Social media targeting — Engage audiences on platforms like Facebook, Instagram, and LinkedIn with tailored ads showcasing vehicle highlights and customer testimonials.
• Content marketing — Launch an automotive blog and develop useful guides and infographics to position your dealership as an expert in the field.
• Customer testimonials — Feature stories from satisfied customers to enhance credibility and attract potential buyers.
• Experiential marketing — Host test drive events and participate in local community activities to offer direct product experiences and strengthen community ties.
• Referral and loyalty programs — Implement systems to reward loyalty and referrals, encouraging ongoing customer engagement and retention.
• Digital advertising — Employ targeted advertising and pay-per-click campaigns to attract interested buyers effectively.
• Video marketing — Use video content to enhance online visibility and engage a broader audience.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that set it apart from the competition. Today, customers are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your car dealership meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire.

Global pizza chain Domino’s is renowned for its strong USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your car dealership could be:

• Reliable cars for less, guaranteed
• Upscale used cars for your luxury life
• Family cars that keep your family safe

You may not like to network or use personal connections for business gain but your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a car dealership, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in a car dealership for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in cars. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business.

Step 12: Build Your Team

If you’re starting small, you may not need any employees right away. But as your business grows, you will likely need workers to fill various roles. Potential positions for a car dealership would include:

• Salespeople — Selling cars, customer service
• Finance manager — Working with lenders to get customers’ financing
• Marketing lead — SEO, social media strategies
• General manager — Managing staff, ordering inventory

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need.

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent.

Step 13: Run a Car Dealership — Start Making Money!

In good times and bad, people buy cars. It’s a trillion-dollar market, and with hard work and determination, you could grab your share and make a great living. It’s also important to keep up with the trends, such as going digital and maintaining a strong online presence to attract consumers who prefer to shop online.

Start small, build a name, add to your inventory, and grow your business. One day you could be that celebrity local auto dealer with an acre of cars. Now that you have the knowledge you need, you should be off to the races on your entrepreneurial journey!

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• Decide if the Business Is Right for You
• Hone Your Idea
• Brainstorm a Car Dealership Name
• Create a Car Dealership Business Plan
• Register Your Business
• Register for Taxes
• Fund Your Business
• Apply for Car Dealership Business Licenses and Permits
• Open a Business Bank Account
• Get Business Insurance
• Prepare to Launch
• Build Your Team
• Run a Car Dealership — Start Making Money!

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How to Write a Business Plan for Your Car Dealership

Nuts and Bolts of a Winning Car Dealership Business Plan

Starting a car dealership involves much more than simply placing for sale signs in the windows of a few cars parked in your driveway. Becoming a car dealer requires you to understand and meet your state’s legal requirements, obtain necessary permits, form an appropriate legal entity structure, find a location, and determine the types of vehicles you will offer. If you sell more than a couple of vehicles in a year, you will have to get a license from your state to legally operate your business. States that require auto dealer licenses also require you to obtain an auto dealer bond as a condition of getting a license.

A surety company will want to evaluate your business to determine its financial stability, level of experience, and reputation before it will agree to issue you a bond. To determine whether it will underwrite your bond, the surety company will likely ask to review a copy of your business plan.

Besides having something to present to a potential surety company, there are other good reasons why you should take the time to write a business plan for your dealership. Effective business leaders execute well-planned business strategies. The best way to plan your business strategies is to create a thorough plan for your dealership. While a business plan will not guarantee you will succeed, it can help to mitigate against the risks of failing. Here are the parts you should include in your business plan as a car dealer to help map out your strategies and create a path to success.

Executive Summary

The executive summary of your dealership’s business plan provides a statement of what you envision when you achieve operational success and reach your goals. It is a summary of the vision you have for your dealership and describes your business’s identity, purpose, and how you will achieve your goals. Your executive summary should include your mission statement and validated statements about the business opportunity and the market.

Company History

This section should include a brief account of your business’s roots and how it started. While short, this section should provide insight into your company’s foundation and the direction it will go in the future.

Company Analysis

In this section, you should describe the type of dealership you plan to operate. For example, you should explain whether you will sell new cars or used vehicles, or if you plan to operate an online dealership. You should also include any milestones your dealership has achieved and the plans you have for its future. You should also include information about the legal entity structure you have chosen for your dealership.

Goals/Objectives

You should list the specific goals that your company wants to achieve. The goals you list should be measurable, specific, realistic achievable, and phased in terms of time. Each goal should include objectives and milestones to show the path for how it can be achieved. Your dealership’s goals can provide your team clarity about your vision and guidance for your operations.

Industry/Market Analysis

The market analysis section is critically important for demonstrating that you understand the auto industry, your market, and consumer demand for what you are offering. To write this section, you should research to understand the preferences, whims, and behaviors of your target market. You should also demonstrate knowledge of successful marketing campaigns and describe the demographics and buying habits of consumers in your market.

Competitive Analysis

Your business plan should address both your direct and indirect competitors. Your direct competitors will include other auto dealerships in your area. The indirect competitors will include other ways that people can purchase cars, including online auctions, private sellers, etc.

Discuss the key aspects of your direct competitors’ business models, including their customer base, the types of vehicles they sell, and their apparent strengths and weaknesses. Explaining how your dealership can fulfill a niche that your competitors aren’t providing is important.

Marketing Plan

In your marketing plan, you should make sure you provide the following information:

• Type of vehicles you offer • Price range of the vehicles you offer • Your dealership’s location and how it provides you with a steady stream of potential customers • Methods you use to attract customers to your dealership (online ads, print ads, television commercials, social media advertisements, flyers, etc.)

In this section, make sure to be specific. You will need to sell your marketing plan to yourself, employees, potential investors, lending institutions, and customers. Make sure to show why your customers would want to purchase a vehicle from your dealership.

Management Team

Include biographies of each of the key personnel in your dealership. The success of your business will depend on the talent of your executive players who will execute your business strategies. Highlight what each key member brings to your company and its goals.

Business Strategy

In the strategic section of your business plan, you should include explicit details of your ideas and plans for success. Describe the methods you will use to achieve your goals. Your business strategies help to hold your business together and provide momentum as you react tactically to any contingency that might arise.

Financial Projections

Your business plan should include a financial projections section that accounts for five years, including two years of comparative data and three years of projections based on your market demand and your ability to meet a portion of it.

Succession Plan/Exit Strategy

You need to include information on how your business will handle major changes such as if your business changes hands or loses a key stakeholder. Make sure to include plans for succession so that your business operations can continue even if an owner decides to sell their stake. You can also include an exit plan for investors to help minimize any financial risks of investing in your dealership.

Financial Information

In the financial section of your business plan, provide hard accounting numbers for your dealership. Include a profit and loss statement that states whether your business is currently making money. You should also include a balance sheet detailing your assets, liabilities, working capital, and other financial information. Finally, include a cash flow statement to detail how money flows into and out of your business.

Creating a business plan for your car dealership is a crucial step to take before you open your doors. A good business plan can provide a roadmap to success while also helping you to obtain important financing, surety bonds, and licensure. A business plan can also help to ensure that the members of your team understand your vision and goals and act accordingly.

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Money blog: Wetherspoons boss hits back at Ryanair chief over call to limit airport drinking

The Money blog is a hub for personal finance and consumer news and tips. Today's posts include the boss of Wetherspoons hitting back at Ryanair's airport drinking limit call. Leave a comment on anything we're covering below.

Thursday 29 August 2024 08:48, UK

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The boss of JD Wetherspoon has rejected calls for a limit on pre-flight drinking at airports after Ryanair chief executive Michael O'Leary called for the move to tackle disorder on flights.

Mr O'Leary said passengers should be limited to two drinks to crack down on antisocial behaviour and violence.

But responding to the call today, Sir Tim Martin says there have been "no complaints about our pubs from the airport authorities or airlines" in recent years.

He told the Telegraph that Wetherspoons airports no longer sell shots or "double up" offers.

"Ryanair, in contrast, offers a discount on Irish whiskey if a double is ordered," he said.

Sir Tim also that said in the past month only 33% of sales at his airport pubs came from alcohol, with coffee, tea and soft drinks making up 25%.

Sir Tim says all his premises have CCTV to help identify any disorder.

He also said there's evidence to suggest most cases of drunkenness and violence are on inbound, rather than out bound flights.

Mr O'Leary told the Telegraph yesterday that he didn't want to "begrudge people having a drink" but added: "We don't allow people to drink-drive, yet we keep putting them up in aircraft at 33,000 feet."

According to Ryanair, Liverpool, Manchester, Glasgow and Edinburgh are four of the most problematic airports for the carrier.

What do you think? Let us know in the comments box or vote here in our LinkedIn poll

For Savings Guide this week, Savings Champion co-founder Anna Bowes looks at the top regular saver accounts this month...

If you don't have a lump sum to invest, one of the best ways you can get into the savings habit is to open a regular saver account and deposit the amount you can afford the day after you are paid, so it becomes like another bill - but one that you can benefit from in the future.

Regular savings accounts pay some of the top rates available as you are normally restricted by the amount you can deposit and you may not be able to dip into the cash very often, if at all over a given term.

In fact, there are usually a number of terms and conditions to keep an eye on to make sure you earn the interest you are expecting. 

And some of the top accounts are only accessible if you hold a current account with the provider. But normally you won't need to transfer your primary current account. 

Regular savings accounts normally offer a fixed rate of interest for a set term, but there are also many variable rate accounts around, so keep your eyes peeled.

The top regular saver rates on offer have been unaffected by the base rate cut and we have even seen a newcomer to the market recently. 

Virgin Money has jumped straight to the top of the table, offering its current account holders' access to a fixed rate of 10% gross/10.38% AER on deposits of up to £250 a month until maturity on 31 July 2025.

The requirement for a current account is pretty common for the top regular savings accounts, but not all accounts have this requirement.

The Progressive Building Society is paying 7% gross/AER, fixed for 12 months - on deposits of up to £300 a month - and you do not need to have a current account with the provider.

Bottom line is that it's important to check whether opening a new current account just to have access to the regular saver is a good idea.

A consumer champion has called for the Competition and Markets Authority to intervene on dynamic pricing used by hotels - as more Sky News readers got in touch to say they've had their hotel bookings cancelled by a prominent chain on nights when Oasis are playing.

Maldron Hotels says a "technical error" meant more people booked rooms than they had capacity for in Manchester on nights of the concert - and that the same error meant that, after people's bookings were cancelled, rooms were advertised at an inflated price.

It denied it was an attempt to "resell rooms at inflated prices" ( see 11.07 post yesterday ) after some accused the firm of attempted profiteering.

Scott Dixon, AKA  The Complaints Resolver , says trying to enforce a booking legally is very problematic.

He described dynamic pricing - or "price gouging" - as "insidious".

"We need the Competition and Markets Authority to clamp down on this practice," he said.

Lots of you have got in touch over the last 24 hours saying you've been affected by the cancellation of bookings at Maldron Hotels' Manchester sites after Oasis's major comeback tour was announced.

Your stories

Craig Davies, from Nantwich , says he booked rooms priced at £136.20 each for him, his partner and four friends to stay at Maldron Hotels in Manchester city centre for an "anniversary treat" on 12 July next year.

He says he made the booking at 4.30am on Tuesday morning - before the 8am announcement by Oasis that they'd be heading to the city that night as part of their comeback tour.

Mr Davies was among many people later contacted by the hotel asking to cancel the booking.

"Six unhappy folk now who cannot afford their revised rates. Hotel don't seem too bothered, sadly," Craig says. "This is clearly a joke, right?"

Ian Bittel from Sunderland says he promptly booked a room for 13 July 2025 at Maldron Hotels as the announcement came on Tuesday morning, but at 9pm he received the email to cancel.

He says his daughter also booked a room there for 20 July 2025 a little later on Tuesday and received a cancellation email just before 10.45am on Wednesday.

"It's frustrating as now hotel prices have tripled," Ian says.

Meanwhile, Colin McMillan, from Glasgow, says the seemingly mass cancellation of bookings by Maldron Hotels in Manchester is a "poor look for the city" and the hotel industry.

He says he booked two rooms on Monday - the day before the reunion announcement - one for two nights from 11 to 13 July 2025 for £303 and another from 19 to 21 July for £316.50.

He was also asked to cancel despite receiving a booking confirmation.

"I haven't accepted the cancellation request but when I explained that to the staff member on the phone, she said it didn't matter as it wasn't an optional request and the stays would be cancelled anyway," Colin tells us.

He says he spoke to Maldron Hotels' reservation department for 10 minutes and was directed to booking.com - the company he reserved the rooms through - when he asked about an escalation process.

"It's a really poor look for the city and the industry that a hotel would look for short-term gain through gouging like this and alienate existing customers forever," Colin says.

He adds that he'll now have to rethink trying to get tickets for the gigs as no similar hotels are available.

Ross Jordan, who is also from Glasgow , says he and three other guests who are due to attend a family wedding during the first run of Oasis's dates at Heaton Park had booked rooms at the Manchester hotel.

"They have requested me to cancel which I have not done," he says. "This will cost us hundreds of pounds as we have booked flights etc."

What has the hotel chain said?

Maldron Hotels said in a statement to the Money blog that a technical error on Monday and Tuesday led to "substantially more" rooms being booked at its two Manchester hotels than were available for the nights of the four Oasis concerts.

It said it would be unable to honour bookings made on these dates as a result, and no bookings are currently being taken while the issue is investigated.

"This is not an attempt to resell rooms at inflated prices, rather an overbooking issue due to a technical error with our booking systems," the hotel said.

"Additionally, due to the same technical error, a small number of customers were able to book the rooms at a higher price later that evening. We will also be unable to accommodate these bookings.

"We will be honouring all bookings made prior to 26 August. 

"We sincerely apologise for any inconvenience caused."

It's taking sellers over twice as long on average to sell their homes when they have to reduce the price than when there's no reduction, according to Zoopla.

The property portal said its latest research shows sellers should be realistic when it comes to pricing up their property if they're serious about moving.

According to Zoopla, it takes 28 days on average to agree a sale where the asking price hasn't been slashed.

But for sellers who've had to lower the price by 5% or more, the typical time to sell goes up to a whopping 73 days.

Around a fifth of homes put up for sale this month had their price cut by 5% or more, Zoopla said.

Executive director Richard Donnell said a rise in the supply of homes meant buyers had greater choice and prices would be kept in check.

But with mortgage rates still high, "buyers have less purchasing power than two to three years ago and remain price sensitive, meaning sellers can't afford to get ahead of themselves on where to set the right price for their home", he said.

Around 10 million people in England and Wales will not receive winter fuel payments this winter.  

Under Chancellor Rachel Reeves' plan, only those who receive pension credit or other means-tested benefits will still get the £200-£300 towards the cost of their energy bills.   

Critics, including Labour MPs, have said the payments will put even more pressure on elderly people as the cap on energy prices rises again in October.   

On today's episode of the Daily podcast, host Liz Bates gets a breakdown of Labour's plan from our political correspondent Serena Barker-Singh and hears from one of its critics, Labour back-bencher Rachael Maskell.   

Plus, could there be an alternative that could keep everyone happy? We hear from the Social Market Foundation's Sam Robinson about its proposal for an alternative to the winter fuel allowance. 

Listen by pressing play at the top of this page - and  tap here to follow the Daily podcast - 20 minutes on the biggest stories every day .

Prezzo restaurants will undergo a major revamp in the next few years after dozens of its sites were closed in a restructuring programme.

The high street restaurant chain announced the closure of 46 loss-making restaurants - more than a third of its sites - last year after it struggled with soaring energy and food costs.

The move put hundreds of workers at risk of redundancy.

Earlier this year, Prezzo bosses said the company had returned to profitability after the business restructure.

It is now planning to invest in restaurant refurbishments across the rest of this year, and in 2025 and 2026.

Chief executive Dean Challenger has said the outlook for the restaurant group is "positive".

The water industry has warned that firms will be unable to deliver reforms such as stopping sewage outflows without even greater bill rises, with crisis-hit Thames seeking more cash from customers than it originally proposed.

Britain's biggest supplier had initially sought a 44% rise to bills across the five-year period but is now proposing a 52% increase by 2030.

That could rise to a 59% hike, taking the average annual bill to £696, if it is given extra spending allowances by the regulator.

Ofwat has proposed water  bills can only rise an average 21% .

Now, a letter from industry trade association Water UK to Ofwat, seen by Sky News, has set the bodies on a collision course.

Read our full story here ...

More employers are offering sabbaticals as a way to boost employee wellbeing and improve staff retention, according to experts.

A new poll shared with The Guardian by the Chartered Management Institute (CMI) reveals that more than half (53%) of managers said their firm offered sabbatical leave, compared with 29% who said they did not. 

In the public or charity sector, the leave was more likely to be available (62% of managers said it was offered) compared with the private sector (44%).

Some 80% of younger managers under 55 said sabbatical leave was important for employers to offer, compared with 72% of people over this age.

Sabbaticals offer benefits to employees and employers alike, said CMI director of policy Anthony Painter.

He said companies were "doubling their efforts to boost staff retention" in a "competitive job market".

Taxpayers should prepare for Labour to hike the rate of capital gains tax (CGT) in its autumn budget, a leading tax firm has said.

Blick Rothenberg chief executive Nimesh Shah said Sir Keir Starmer has "clearly signposted" that the budget will be "painful" for higher earners and wealthier taxpayers.

The bleak picture painted by the prime minister in a news conference yesterday came after chancellor Rachel Reeves accused the previous government of leaving a £22bn "black hole" in the nation's finances. 

"One obvious option to [fix] this without breaking Labour's election promises is by raising CGT," Mr Shah said.

"The prime minister and chancellor seem to be acting with urgency when it comes to tax changes, so taxpayers will need to prepare now for a likely mid-year CGT rise."

The tax firm boss said the potential changes to capital gains tax - which is essentially a levy on any profit you make when you sell or "dispose of" an asset - could "encourage individuals to leave the UK and become a non-UK tax resident".

"Currently CGT raises less than 2% of the total tax take – it raised £14.5bn in 2022-23, and this is £2.5bn down from the previous tax year. 

"To improve that tax take the chancellor could potentially increase the rate of CGT to 25%-30%, and apply a lower rate, of say 20%, for sales of business assets to support entrepreneurial growth."

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How to Start a Car Rental Business: A Comprehensive Guide

Too long to read? Enter your email to download this post as a PDF. We will also send you our best business tips every 2 weeks in our newsletter. You can unsubscribe anytime.

It can be profitable to start a car rental business, especially in places with lots of tourists or where people need short ways to get around. Using the right tools, like auto rental software , is important for streamlining processes and giving great service. It is possible to keep track of reservations, maintain your fleet, and make sure all deals go smoothly with this program. As a result, your company will run more easily and treat customers better.

Before you jump in, it’s crucial to understand the market you’re entering. You can find problems and chances in the market by studying it carefully. Consider the following questions:

3. Secure Financing

Starting a car rental business can be capital-intensive, especially if you plan to purchase a fleet of vehicles. Determine how much capital you will need to start and operate your business until it becomes profitable. Explore various financing options such as:

5. Obtain Necessary Licenses and Permits

Managing a fleet of vehicles and numerous customer transactions manually can be overwhelming. A software for car rental business, like TopRentApp’s auto rental software, can streamline operations, improve efficiency, and enhance customer experience. These systems typically offer features such as:

Once your business is set up, you need to attract customers. To reach your target group and raise awareness of your brand, you need a complete marketing plan. Consider the following tactics:

Conclusion: Ready to Start Your Car Rental Business?

Go to TopRentApp’s website right now to learn more about how their software for car rental businesses can help you run your business better. Car hires will change in the future. Keep your business ahead of the competition by using technology.

You may also like: Car rental in Kyiv with delivery to the desired address – fast, convenient, reliable

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• Best overall

Best CFAR Travel Insurance for Reimbursements

• Best for adventurers
• Best for multiple trips
• Best for cruises
• Best for long trips
• Why You Should Trust Us

Best Cancel for Any Reason (CFAR) Travel Insurance of September 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate travel insurance products to write unbiased product reviews.

"Cancel for Any Reason" (CFAR) travel insurance provides the utmost flexibility, allowing you to cancel your trip for any reason that's not covered by standard travel insurance. Let's dive into what sets the best CFAR travel insurance apart from other policies.

Best Cancel for Any Reason Travel Insurance of 2024 Summary

• Best overall: Seven Corners Travel Insurance
• Best for reimbursements:  Allianz Travel Insurance
• Best value: Travel Guard
• Best for adventurers: Travelex Travel Insurance
• Best for multiple trips:  C&F Travel Insured
• Best for cruises and tours: AXA Assistance USA
• Best for quick protection: TravelSafe Insurance

Top Cancel for Any Reason Travel Insurance Companies Comparison

While CFAR insurance can simplify your claims process for trip cancellations, it comes with its downsides. For one, CFAR insurance is more expensive than regular travel insurance . Additionally, you will only receive a percentage of your nonrefundable trip costs if you cancel a trip. As a result, when choosing the companies in this guide, we looked at the best recovery policies and the lowest additional costs for CFAR insurance.

These are our picks for the best CFAR travel insurance companies in 2024. 

Best Overall CFAR Travel Insurance

Seven corners travel insurance.

Seven Corners is a well-known carrier that has served thousands of travelers. The Trip Protection Choice plan offers a cancel for any reason travel insurance add-on that covers up to 75% of total trip costs, with a maximum of up to $75,000 in reimbursement. Travel medical coverage is also generous, with up to $500,000 per person for eligible medical expenses and evacuation/repatriation limits of up to $1 million per person.

Seven Corners also offers generous benefits on lost baggage and delayed travel or baggage expenses. Baggage delay benefits kick in after just six hours and go up to $500 per person. The Choice plan does not insure travel canceled by tour operators that are or have gone out of business, so this policy may not be the best fit for travelers who plan to visit destinations with tenuous

Read our Seven Corners Travel Insurance review .

Allianz Travel Insurance

Allianz Travel Insurance is one of the leading brands in travel insurance, with 10 different travel insurance plans across single-trip, multi-trip, and rental car plans.

Its CFAR plan for OneTrip Prime and Premier policyholders offers 80% reimbursements on canceled trips, which is the highest percent reimbursement across the plans we reviewed. Most companies offer 75% or lower for CFAR reimbursements.

Read our Allianz Travel Insurance review .

Best CFAR Travel Insurance for Value

Travel guard.

Travel Guard is one of the best-known names in the travel insurance industry, with several plans available for traveler needs in every direction. AIG also provided the lowest quote for our hypothetical Europe travelers despite offering the highest ceiling on CFAR reimbursement.

Both AIG's Preferred and Deluxe insurance plans offer CFAR coverage as an add-on to the policy, and some policies cover up to 75% of total trip costs going all the way up to a maximum reimbursement of $112,500.

Many AIG policies also include COVID coverage even without CFAR protection, as well as some ancillary benefits such as rental car protection and even pet travel insurance.

Read our AIG Travel Guard Insurance review .

Best CFAR Travel Insurance for Adventurers

Travelex travel insurance.

Travelex is a great cancel for any reason option for travelers who plan to participate in strenuous or adventurous activities during their trip. While the CFAR coverage add-on only reimburses up to 75% of nonrefundable trip expenses, it still provides a certain modicum of peace of mind in case of emergencies, with cancellation available as an option up to 48 hours before travel begins. Travelex offers low medical coverage compared with its competitors, with a maximum of up to $50,000 per person. Travelers participating in adventure sports can purchase an optional add-on bundle for additional coverage. In case of emergency, Travelex policy holders might do well to consider the travel insurance benefits on their credit cards to supplement any potential medical expenses.

Read our Travelex Insurance review .

Best CFAR Travel Insurance for Multiple Trips

C&f travel insured.

C&F Travel Insured is the only company we reviewed that offers add-on CFAR coverage for trips taken under a annual multi-trip travel insurance policy. This benefit, which reimburses you for 75% of your nonrefundable fees, is a one-off addition you need to add to each trip you take. 

C&F also offers CFAR protection on its Worldwide Trip Protector policy, its premium single-trip policy, as long as you purchase your policy within 21 days of your initial trip deposit. 

Read our C&F Travel Insured review .

Best CFAR Travel Insurance for Cruises

Axa assistance usa.

AXA is a great option for our hypothetical Europe cruise travelers, with its coverage of up to $1,500 per person for missed cruises and tours. This insurer also covers lost and delayed ski, sports and golf equipment – items that aren't always included in lost or delayed baggage coverage under other carriers. The rest of your belongings are safe too with AXA, as lost baggage claim ceilings are up to $3,000 per person - more than double some of its other competitors. Unfortunately, AXA may not be the best fit for travelers who need high-ticket travel protection, as the upper limit for CFAR reimbursement only goes up to a maximum of $50,000 despite covering up to 75% of total nonrefundable expenses, which is lower than the ceilings from other competitors such as AIG and Seven Corners. Furthermore, CFAR insurance coverage can only be added on to AXA's top-tier Platinum plan.

Read our AXA Assistance USA Travel Insurance review .

Best CFAR Travel Insurance for Long Trips

Travelsafe insurance.

TravelSafe is a great option to consider if you have a lot of stops or transits on your trip, or if you are an expat living abroad. This insurer offers flexible coverage terms for longer travel durations. If you are 79 years old or younger, you can purchase a single-trip travel insurance plan that can cover your adventures for up to 150 days. Furthermore, reimbursement for baggage delays and losses, trip delays and missed connections kick in far more quickly than most competitors, with up to $2,500 per person for eligible missed travel connections available at the three-hour mark.

While TravelSafe's medical coverage of up to $100,000 may be on the lower side for travelers who anticipate potential medical expenses, those with the right credit cards may be able to supplement their emergency costs through a claim with their card issuer.

Read our TravelSafe Travel Insurance review .

Understanding 'Cancel for Any Reason' Coverage

Key features.

CFAR policies are unique; they allow cancellation for reasons beyond the usual covered reasons of travel insurance policies. This includes fear of traveling due to a pandemic or a sudden change of mind. However, it's essential to understand the specifics, such as the percentage of the trip cost reimbursed and the time frame for cancellation.

How CFAR Differs from Standard Policies

Unlike traditional travel insurance policies that cover specific cancellation reasons like illness or weather-related issues, CFAR offers a broader spectrum of coverage. It's the premium choice for travelers seeking full control over their plans.

That said, you must also buy travel insurance early if you want to qualify for a CFAR policy, usually within a certain period from when you place a deposit on your trip. That's why it's important to be mindful of when you buy travel insurance . 

How to Pick The Best CFAR Travel Insurance Plan for You

There is no one-size-fits-all "best" insurance plan, especially for CFAR coverage, which can add to your insurance premium. Even for the same person, the right policy will vary from trip to trip, depending on your activities.

If you're primarily concerned about getting your money back if your schedule changes, you may be able to get away with a basic plan that allows you to add CFAR coverage. If you're undertaking a grueling hike through some challenging mountain ranges, you may want to select a policy that includes generous medical and evacuation protection, plus flexibility to reschedule or re-book your trip in case of injury. And if you plan to visit a number of destinations within a short amount of time, trip delay or baggage loss protection may need to be one of your top priorities. If you only need basic coverage, consider our guide for the best travel insurance policies .

Steps to Choosing CFAR Coverage

• Evaluating Your Travel Needs Consider the nature of your trip, destinations, and what uncertainties you might face. This will help determine the level of travel insurance coverage you need.
• Comparing Prices and Benefits Analyze different policies in terms of cost, coverage percentage, and additional benefits. Look for the best value for your specific needs.
• Reading the Fine Print Understanding the terms and conditions, including the cancellation window and reimbursement process, is crucial to avoid any surprises.
• Making the Most of Your Policy Once you've chosen a policy, it's important to know how to use it effectively.
• Understanding Your Policy Familiarize yourself with the details of your policy, including how and when to file a claim.
• Tips for Filing a Claim Be timely and thorough when filing a claim. Keep all relevant documents handy and follow the provider's process closely to ensure a smooth experience.

Why You Should Trust Us: How We Reviewed the Best CFAR Travel Insurance

Business Insider reviewed numerous insurance products looking for the best options. Especially when it come to travel insurance, each traveler has a distinct experience and plan. So we looked for companies offering the optimal coverage packages for certain groups.

To accurately compare the cost of CFAR coverage from the insurance carriers we recommend, we collected quotes for a hypothetical two-week trip to three countries in Europe for two travelers ages 38 and 45 that includes a river cruise, renting a vacation home, and taking several flights. The total cost of travel comes out to $14,000 between two people.

The main factors we evaluated when picking our top CFAR travel insurance options were: policy cost, level of protection, claims experience, and policy types.

All our reviews are independently done, meaning travel insurance companies don't get to review or approve our reviews. Similarly, our top guide spots are not for sale. All placements are earned through strong coverage, efficient claims handling, and strong customer service.

Read more about Business Insider's travel insurance rating methodology .

Best CFAR Travel Insurance FAQ

Most insurance carriers will require that you purchase cancel for any reason protection within two to three weeks of your initial trip deposit. After that point, you won't be able to add CFAR coverage to your policy.

Trip cancellation coverage is a benefit of standard travel insurance plans, offering reimbursement if your trip needs to be canceled for specific covered reasons, such as a death in the family or illness. With cancel for any reason insurance, on the other hand, you'll receive reimbursement when you cancel your trip for any reason, so there are fewer restrictions.

Yes, CFAR policies are generally pricier because they offer a broader range of coverage and more flexibility than a standard travel insurance policy.

CFAR insurance usually increases your travel insurance premium by 40% to 50%. If your premium for a travel insurance policy is $150, adding a CFAR rider would increase your cost by $75. 

You can purchase CFAR insurance by purchasing it as an add-on to a single trip travel insurance policy.

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Cash for Cars in Saint Petersburg, FL

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Cash For Junk Cars in Saint Petersburg, Florida

You may be wondering, who buys cars for cash near me? At Wheelzy, we buy junk cars for cash and pay you on the spot! We’ve helped more than 200,000 customers happily sell their vans, trucks, or cars for cash throughout the Saint Petersburg area.

• Wheelzy’s US based junk car buyer team members will help you get the most cash for junk cars in Saint Petersburg, FL.
• We know that selling used or junk cars for cash can be frustrating, which is why we’re here to help you get rid of your vehicle - stress-free.
• As the best place to sell your junk car for cash in Saint Petersburg, we take care of all the title paperwork and even provide FREE towing services anywhere surrounding the Saint Petersburg, Florida area!

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It's Easy to Sell Your Car in Saint Petersburg, Florida

Tell us about your junk car, get your offer, get paid at pick up, does wheelzy pay cash for cars.

You can request cash for junk cars or a corporate check when scheduling that can be cashed same day, in full. You can verify funds before our driver leaves with the junk car. This also allows you to have a paper trail of your transaction with us. We do this for your safety to guarantee that my drivers come out with the exact amount that we agreed on. It ensures that we won't show up and haggle with you like other companies do. This is also for our driver’s safety. We don’t want them driving around Saint Petersburg with a ton of cash in hand, since they’re picking up several cars for cash in a day.

How are cash for junk car offers generated online?

You may be asking yourself, “Who buys junk cars for cash anymore?” We do! We start off by asking you a couple of questions about your vehicle in order to get you cash for cars in Saint Petersburg. Is it starting and driving? Is the junk car missing parts? Any major body damage? Do you have any paperwork under your name?

We then have our advanced pricing engine that takes all of this information and gets our customers the most cash for cars! Our cash for cars offers generated by our pricing engine are guaranteed!

Thinking of Selling Your Car For Cash Privately? Think Again!

Just be careful when you sell your car for cash in Saint Petersburg on places like Craig's List. Wasting your time is one thing, but most private junk car buyers are looking to scam or hurt someone who isn’t aware of how selling cars for cash should be. You would also need to make sure that the buyer will go to the DMV right after you sell your car for cash, to transfer the ownership. The only bad thing about that is if they don't, you can still be held legally liable for a car that you don't own anymore. Keep in mind, we cover all the title transfer paperwork, free towing in Saint Petersburg, and a 100% guaranteed offer.

Why is Wheelzy a better online cash for junk car buyer?

Wheelzy is completely free to use the entire time and never charges any fees. We offer the best incentives to make selling your car for cash in Saint Petersburg smooth and easy. We provide fair offers that don’t change, we pick up your junk car for free anywhere in America, and we even take care of the paperwork for you at no charge. See what our customers are saying about what makes Wheelzy the best cash for junk cars buyer. We’ve built connections nationwide throughout the auto industry that lets us offer our customers the most cash for cars.

What do I need to sell my junk car for cash?

You must be 18 years or older in order to sell cars for cash in Saint Petersburg. We have many junk car buyers that buy cars for cash without a title. But in some instances, we will need the title or alternate proof of ownership in order to pay cash for junk cars, like a registration or insurance card. When completing your instant online offer, click on “No title” or “Alternate Paperwork”. Our system will calculate your new offer so you can get cash for junk cars fast in Saint Petersburg!

In need of more assistance to help junk cars for cash in Saint Petersburg? Give us a call! One of our customer service representatives will be ready to help you sell your junk car for cash with no title.

If you’re interested in obtaining a title to get the most cash for cars, see our Title Guide by State for more information on how to sell your car for cash with a title.

Miguel Cabanillas (Miramar, FL)

Destiny Heatherly (Altamonte Springs, FL)

Bebe Bacchus (Davie, FL)

What Do We Do With Your Junk Car?

In most cases, junk cars for cash that are rusted out or have been sitting for years are recycled for their raw materials. The offer on the junk car for cash is calculated on its size and weight instead of whether the car is fully operational. If your junk car's condition is in better shape, we will resell your junk car in Saint Petersburg. This is at your advantage because we can pay a lot more cash for your car. When you receive cash for your junk car, it will always depend on what kind of used car you're selling and what condition it is in.

Does Wheelzy buy junk cars in Saint Petersburg?

We get questions from our customers all the time asking, “Do you pay cash for cars near me?” The answer is YES! We work nationwide and we buy junk cars for cash no matter their condition. Conditions such as paint wear from high heat, an irreparable transmission, deployed airbags, and even major rust are okay with us, we’ll still pay you cash for cars!

Because you live in Florida, over the years many of these things may end up happening to your vehicle because of Saint Petersburg’s weather conditions. But that’s okay! We’ve been doing this a long time and can still pay you cash for damaged cars. Now let’s say your vehicle is nowhere near being inoperable, you are just tired and want some change, we would be more than happy to purchase your car for cash. If your local car dealer does not want to offer you top dollar, give us a call and we’ll be happy to buy your car for cash!

If I sell my car for cash to Wheelzy, will my car be towed the same day?

When you’re trying to sell cars for cash same day, it really depends on the tower's availability. We always recommend you schedule with the tower for the first available day just in case, and they will try their best to work with your schedule to get you cash for cars as quickly as possible. If availability permits, they can pick up the vehicle in Saint Petersburg and you can get cash for cars the same day. If there is an emergency situation where you are in need of same day pickup to avoid your vehicle being impounded or towed, please give us a call so we can help you sell your junk car for cash fast!

We Pay Cash for Junk Cars in Saint Petersburg FL

Our Saint Petersburg, FL location and trusted junk car buyer team members will help you get an instant cash offer to sell your junk car for cash near you as quickly as you need to get rid of it. If you’re wondering ‘Can I junk my car for cash in Saint Petersburg with Wheelzy?’, the answer is yes! We pay cash for clunkers in the Saint Petersburg, Florida area, regardless of the condition it’s in. We buy running cars, damaged cars taking up space, salvaged cars, and cars that are in great condition.

Is it safe to sell my junk car for cash?

Definitely! If you are not comfortable with cash for cars, we can provide you with a corporate check. If your vehicle is a higher value, our driver will more than likely not feel comfortable carrying that much cash on them because they have multiple cars to pick up in Saint Petersburg throughout the day.

Is Saint Petersburg the best place to sell my junk car for cash?

Anywhere is the best place to sell your junk car when you are selling your car for cash with us! We work nationwide to help everyone sell cars for cash easily and work with local towers in the Saint Petersburg area to provide you with the best pick up experience when we buy your junk car for cash on the spot.

Who Buys Junk Cars For Cash Near Saint Petersburg, Florida?

Many of our customers ask, “Who buys junk cars for cash near me in Saint Petersburg? Do you?” Wheelzy can help you sell wrecked cars for cash or sell damaged cars for cash as quick and easy as it should be. Why? Because we are the best junk car for cash removal specialists! We pay top dollar for cars or trucks, and provide a free tow for the vehicle anywhere in Saint Petersburg. We buy cars or trucks that won’t start, drive, or that you are simply getting tired of. We pay cash for cars on the spot, while also taking care of the fees upfront for our free towing service.

What areas around Saint Petersburg, Florida could I sell my junk car for cash?

Can i sell my damaged car for cash that does not start or drive.

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At the Democratic Convention, a Historic Nomination

What story did the democrats tell about kamala harris and will it be enough to win.

This transcript was created using speech recognition software. While it has been reviewed by human transcribers, it may contain errors. Please review the episode audio before quoting from this transcript and email [email protected] with any questions.

[BACKGROUND CHATTER]

I’m standing in a sea of people coming out of this vast convention. And people are holding signs, smiling. There’s confetti everywhere. There are balloons, white, red, and blue. And there’s a lot of excitement.

From “The New York Times,” I’m Sabrina Tavernise. And this is “The Daily” from inside the Democratic National Convention Hall, where Kamala Harris has just accepted her party’s nomination, becoming the first woman of color in US history to do so.

Today, the story this convention told about Harris and whether that story could be enough to win.

It’s Friday, August 23.

[SERENE MUSIC]

The work and prayers of centuries have brought us to this day. What shall our our legacy be? What will our children say? Let me in my heart, when my days are through, America, America, I gave my best to you.

On night one of the Democratic National Convention, the evening was really defined by this very emotional, quite bittersweet goodbye from President Biden.

And there’s nothing we cannot do when we do it together.

God bless you all. And may God protect our troops.

It was the closing of one chapter so that another could begin. It was Kamala Harris’s moment.

[UPBEAT JAZZ MUSIC]

So right now, it’s 7:40. We are on the floor at the Democratic National Convention. It is a crazy party atmosphere, which is like a massive understatement.

Day two kicked off with delegates gathering on the convention floor, casting their votes in a kind of symbolic way to make Harris the party’s nominee.

This giant festival of lights, people in cowboy hats, people with blinking bracelets, people with Christmas lights wrapped around their hats, heads, shoulders, people wearing donkey hats. I mean, it’s very, very, very celebratory in here.

We need to see that we’re moving on. We are turning a chapter in America.

How do you feel right now?

Awesome, excitement, energized. Ready to win this election.

I love it. I love it. People are just excited, electrified, and they’re just loving it, and they’re happy.

This has been the most electrifying event I’ve ever attended in my life. It’s my first convention. But what a convention to come for, right? To make history right now, as we charge forward to November 5, to elect the first female Black president. I’m excited.

So with Harris now the nominee, a new campaign slogan appeared everywhere. And that was, “A new way forward.” But in a campaign that’s just four weeks old, it was really an open question what “a new way forward” actually meant.

We’re not going back!

We’re not going back! We’re not going back!

And then over the course of the week, as speaker after speaker took the stage, we started to get an answer. The story of forward would be told through the story of Kamala Harris herself. And the question hanging over the week was really whether that story could appeal to a broad majority of Americans, voters outside of the convention hall who will ultimately decide the election.

[UPBEAT MUSIC]

Astead, welcome to the show.

Thank you for having me.

Again. The second time in a week. And I’m very excited for it.

So Astead, we had on the show on Monday to answer a question for us, that I think a lot of people have, which is, who is Kamala Harris? And you ended that conversation by saying that the Democratic Party also recognizes this reality, that for a lot of people, she is still this unknown quantity.

And that the party had a big task here at the convention this week, which was to find a way to finally tell her story. It does seem like they’ve tried to do that. Let’s walk through the case that they’re making for her. And what you’ve seen here in your reporting for your show, “The Run-Up.”

Yeah, I mean, I think that the Democrats have definitely laid out a case for her as a candidate, but also a story for her as a person. They have leaned into the different parts of her biography to really follow through on what, I think, is the best version of her campaign, which is a little bit for everybody. There is a story there about more moderate legislation, but pieces of progressive history. There’s different parts of her bio that speak to Black communities, immigrant communities.

Of course, the historic nature of her gender and the roles like that. And I really think it has followed through on what I expected for this week, which is that she seems to function politically as a mirror of some sort, where the party wants to position her as someone who basically, no matter what you’re looking for in terms of a vessel to beat Donald Trump, you can find it in this candidate.

Let’s dig into that more. Where did the convention start, that story?

Hello, Democrats!

Yeah, I think it really starts in her personal biography.

And I’m here tonight to tell you all about the Kamala Harris that I know.

They have told a story that she often tells about her being a first generation American.

Her mother moved here from India at 19.

And being a daughter of an immigrant mother who really raised two daughters in the Bay Area from working class roots. And that’s been a real thing that they’ve tried to own.

Kamala was not born into privilege. She had to work for what she’s got.

When she was young, she worked at McDonald’s.

They talk about her working at McDonald’s in college.

And she greeted every person without thousand watt smile and said, how can I help you?

I think it’s overall about trying to present this as someone who pulled himself up by bootstraps. It represents the American dream. And I think for Democrats, it really returns them back to the place they want to be. Democrats like thinking of themselves as a party who appeals to the diversity of America, both in racial ways, in gender ways, but also in class ways.

In Kamala Harris, we have a chance to elect a president who is for the middle class because she is from the middle class.

And I think they used other parts of her identity, specifically thinking about being the first Black woman to accept a major party’s nomination.

We know folks are going to do everything they can to distort her truth.

And I think Michelle Obama’s speech, specifically, spoke to the power and anxiety that sometimes that identity can bring.

My husband and I sadly know a little something about this.

For years, Donald Trump did everything in his power to try to make people fear us. See, his limited, narrow view of the world made him feel threatened by the existence of two hard-working, highly educated, successful people who happen to be Black.

And I would also say that it was an implicit response to what Republicans and others have been trying to say, talking about Kamala Harris as a DEI hire, someone who was only in their position because of their identity. But the way that Michelle Obama framed it was that those identities have power.

I want to know. I want to know. Who’s going to tell him, who’s going to tell him that the job he’s currently seeking might just be one of those Black jobs?

Just because someone the first to be in a position, does not mean that is the only reason in the position. But it also doesn’t make those identities meaningless. The fact that she is a Black woman should be seen as a strength, not as a weakness.

Is there a risk to that, though? I mean, by openly talking about race, is there a risk that goes too far and begins to alienate voters outside the convention out in the world who they need to win in November.

I mean, there’s always a risk. But I don’t really think so. Democrats have had increasing trouble with Black voters. There’s been a downturn in Black vote share all the way dating back to 2012.

In Biden’s now suspended candidacy, that was one of the things driving his polling weaknesses was kind of tepid reception from Black voters. A pitch to them is something that is a upside of the Kamala Harris campaign. And the hope that they could consolidate that community is where any Democratic nominee needs to be as a baseline.

We both got our start as young lawyers, helping children who were abused and neglected.

One thing I noticed that came up a lot during the speeches was her background as a prosecutor. How did the party present that part of her biography?

As a prosecutor, Kamala stood up for children who had been victims of sexual abuse.

She put rapists, child molesters, and murderers behind bars.

They talk about it in the way that I think fuels what they want to say is the reason she can take on Trump, that this is someone who has stood up to bullies before, who’s not going to be intimidated easily —

And Kamala is as tough as it comes.

— who’s tough, and who doesn’t shirk away from a challenge.

And she knows the best way to deal with a coward is to take him head on, because we all know cowards are weak. And Kamala Harris can smell weakness.

I think all of that adds up to say, you can trust this person to go up against Donald Trump. You can trust this person to go up against the Republican Party, because she’s not someone who is scared.

She never runs from a fight.

A woman, a fierce woman for the people.

But then, of course, we heard about another side of Kamala Harris, a more personal side.

Yeah, and I think this is the part of Kamala Harris where I think was kind of most missing in the presidential run. Frankly, it’s the part that she keeps most private. She is a warm family member and friend.

Hello to my big, beautiful blended family up there.

And I think what the speech from her husband did was really show and lay that out.

I got married, became a dad to Cole and Ella. Unfortunately, went through a divorce, but eventually started worrying about how I would make it all work. And that’s when something unexpected happened, I ended up with Kamala Harris’s phone number.

He talks about the kind of awkwardness of their first interaction.

I got Kamala’s voicemail, and I just started rambling. “Hey, it’s Doug.”

And I think you have a real kind of sense of their genuine connection to one another.

By the way, Kamala saved that voicemail. And she makes me listen to it on every anniversary.

Like, yes, this is someone who is tough, who is taking on corporations and cartels and all of that stuff by day. But this is someone who also makes a point to cook Sunday dinner for family every week.

And she makes a mean brisket for Passover.

And makes sure to really go close to his kids and is very close with her family.

That’s Kamala. She’s always been there for our children. And I know she’ll always be there for yours, too.

Going back to the last time the Democratic Party nominated a woman, Hillary Clinton, she had presented herself in a very different way. She kind of ran away from that stuff. She was saying, I don’t bake cookies, that’s not what I do. I’m kind of out there with the men, fighting.

And this convention and this candidate, Harris, is very different. She’s a newer generation. And she can do her career and bake cookies. Those things are not in conflict. This is a different type of woman leader.

This week we talked to Senator Elizabeth Warren on “The Run-Up,” and one of the things that she mentioned was she feels that there’s been a big change from 2016, even 2020 to now. Not just the amount of women in public office, but she said they don’t have to choose between sides of themselves. And I think that’s what diversity means.

Of course, Kamala Harris can be a tough politician and also bake cookies. Hillary Clinton did that, too. It was just that she was told that was not the way that she had to present herself. What Kamala Harris is benefiting from is there’s a greater space and ability to choose multiple things at once. And so particularly if others are going to talk more directly about gender or race or other things, that kind of frees her from having the burden of doing that herself.

And in fact, Hillary Clinton, herself, did speak, of course, on day one. She talked about that glass ceiling in the history that has led to now, including her own experience in 2016.

Yeah, I thought the Hillary Clinton speech was really powerful. I think a lot of the speakers put this moment in historical context, both politically and personally.

My mother, Dorothy, was born right here in Chicago before women had the right to vote. That changed 104 years ago yesterday. And since that day, every generation has carried the torch forward. In 1972, a fearless Black congresswoman named Shirley Chisholm —

— she ran for president. In 1984, I brought my daughter to see Geraldine Ferraro, the first woman nominated for vice president. And then there was 2016, when it was the honor of my life to accept our party’s nomination for president.

The last time I was here in my hometown was to memorialize my mother, the woman who showed me the power of my own voice. My mother volunteered at the local school.

I’m the proud granddaughter of a housekeeper, Sarah Daisy, who raised her three children in a one-bedroom apartment. It was her dream to work in government, to help people.

My grandmother, the woman who helped raise me as a child, a little old white lady born in a tiny town called Peru, Kansas.

I want to talk now about somebody who’s not with us tonight. Tessie Prevost Williams was born in New Orleans not long after the Supreme Court ruled that segregated public schools were unconstitutional. That was in 1954, same year I was born. Parents pulled their kids out of the school.

There was a way that I think the candidacy and the person was placed in a long legacy, both about gender identity and racial identity that kind of teed up this Thursday as a culminating moment, both politically and I think, in a broader historical context.

Together, we put a lot of cracks in the highest, hardest glass ceiling. And you know what? On the other side of that glass ceiling is Kamala Harris raising her hand and taking the oath of office as our 47th president of the United States!

I wish my mother and Kamala’s mother could see us. They would say, keep going. Shirley and Jerry would say, keep going!

I think you can do a lot to set up a candidate to be in a good position. All of this stuff adds up to some part of the puzzle, but the biggest piece is the candidate themself. At the end of the day, they have to close the deal. And I think this moment is her chance to tell her own story in a way that sometimes she has not decided to. And that’s still what this whole convention success and failure will ride on.

We’re going to watch tonight. We’re going to watch with our colleague, Reid Epstein. And you are going to have a great episode of “The Run-Up” on Friday. We will all be tuning in.

Thank you. I appreciate you doing this, Sabrina.

Really thanks a lot, Astead.

Are you a delegate?

Sorry, we caught you mid French fry eating. What’s your feeling about Kamala and what her story has been? Are you getting to know her this week? Are there things you’ve learned about her this week?

Yeah, I’m learning more and more as we go along. The more and more I learn about her, the more I’m impressed with her. I mean, she worked at McDonald’s when she was going to college to try to pay her way through.

Her very small beginnings. Not a trust fund baby type of thing. I relate to that. Like, I was on food stamps this year. So it’s like if she can do it with that background, it gives everybody hope.

Hillary was my girl. When Hillary ran, I championed her as well. But I didn’t feel this way as I feel about Harris. I’m like, do I want to run for office? If she can do it, I can. She looks just like me, right? She represents, she works at McDonald’s. She paid for every. It’s relatable. And that’s what everybody needs.

We’re going to break that glass ceiling. I’m getting teary, teary in my eyes. And it just means so much to be inclusive.

[WHIMSICAL MUSIC]

What does it mean to you that Kamala Harris is a woman? What does it mean to you that she’s a Black woman?

To have a Black woman become the president of the United States, and for her to turn the world upside down in 30 days, to know that I’m in the midst of this miraculous history is phenomenal.

One delegate who really stood out to us was Beverly Hatcher, a 76-year-old Black woman from Texas.

I was raised by a wonderful Baptist mama. I just lost her. But I am who I am because of my mother. We were always pushed to do whatever we wanted to do. I’ll never forget. I wanted to be a majorette. I taught myself, because we had no money for, what is it called, lessons

And a majorette is like the baton twirler, right?

Yes. And when I did finally try out in my 11th grade, I won right off. And my classmates, who were predominantly white, as years have gone by, have told me at class reunions and stuff, Beverly, the sleepy town of Wellington woke up.

Oh, my god, we got a Black girl getting ready to be the head majorette. But it happened because I had the drive and the will. My mother and my family stood behind me, and didn’t miss a parade, or a football game, or a basketball game.

And you see that in Harris?

Beverly, what would your mom say if she saw this?

My sisters have been telling me every day how proud my mom is. And I’m just happy. I’m happy to make her happy. Yeah.

We women, who have had mothers like Kamala, like Michelle, I remember Hillary’s mother, we women value their strength and their wisdom. And we’re just glad that they gave us a legacy to pass it on.

Thank you very much.

We’ll be right back.

Reid, hello.

OK. Kamala Harris just wrapped up her acceptance speech. Before we talk about what she said and the case she presented, tell us how her campaign was thinking about the stakes of this moment.

Sabrina, this evening was one of two opportunities, along with the debate next month, for her to speak to tens of millions of people at once. And so for that, the stakes were really high.

Her goal was to present herself as a serious person and a serious candidate, who was not the candidate who flamed out in 2019 or the unsteady vice president from the beginning of her term. She had to show that she had the gravitas to be the commander in chief, the political aptitude to reach out to the middle, and also to progressives in her party all at the same time.

A very tall order. Tell us how she went about doing that.

Good evening, everyone. Good evening.

Well, she started talking around 9:30 Chicago time to a packed United Center with 14,000 or 15,000 people, many, many wearing all white, the color of the suffragettes, a color that makes a statement just by wearing it. And when Harris took the stage —

— they erupted in a cheer that forced her for a couple of minutes to wait before she could start talking.

Thank you. OK, let’s get to business. Let’s get to business. All right.

And what did she finally say once she started talking?

She told the story of her life.

The path that led me here in recent weeks was, no doubt, unexpected. But I’m no stranger to unlikely journeys.

My mother, our mother, Shyamala Harris, had one of her own. And I miss her every day, and especially right now.

She talked about the influence of her mother, who raised her and her sister.

And she also taught us, “And never do anything half-assed.” And that is a direct quote. [LAUGHS]

She spoke about her family’s humble beginnings in Oakland.

Before she could finally afford to buy a home, she rented a small apartment in the East Bay.

Then she started talking about her career as a prosecutor.

In the courtroom, I stood proudly before a judge and I said five words.

She brought back one of the lines that she used in her 2020 campaign about how when she stood up in a courtroom, she began with the same words.

Kamala Harris for the people.

And she said she would bring that same philosophy to the White House, that she was not working for specific individuals, but for the people at large.

And so on behalf of the people —

Eventually she did a bigger wind up to formally accepting the nomination.

— on behalf of every American, regardless of party, race, gender, or the language your grandmother speaks —

And listed the people on whose behalf she did so.

— on behalf of everyone whose story could only be written in the greatest nation on Earth —

It was really a kind of a feat of speech writing to build up to this big emotional moment.

— I accept your nomination to be president of the United States of America.

And what did you make of that, how she was doing that?

It was building up this speech to be a serious political document and present her as a serious figure in this moment. And so she still has to prove to people that she is capable of being the commander in chief and running the country.

And how does she try to prove that she’s capable of being a commander in chief?

What she did was try to draw the distinction between herself and Donald Trump.

In many ways, Donald Trump is an unserious man. But the consequences, but the consequences of putting Donald Trump back in the White House are extremely serious.

And she warns that Trump would not have guardrails on him if he were elected to a second term.

Just imagine Donald Trump with no guardrails.

And how he would use the immense powers of the presidency of the United States not to improve your life, not to strengthen our national security, but to serve the only client he has ever had, himself.

The speech was very clear-eyed about the stakes of the election.

They know Trump won’t hold autocrats accountable because he wants to be an autocrat himself.

There was a whole section in the middle of the speech where she ticked through, one by one, a whole series of warnings about things that Trump would do to the country if he were back in the White House.

Get this, he plans to create a national anti-abortion coordinator and force states to report on women’s miscarriages and abortions.

Simply put, they are out of their minds.

What else stuck out to you?

It was remarkable, the section of the speech where she talked about Gaza.

President Biden and I are working around the clock, because now is the time to get a hostage deal and a ceasefire deal done.

She did not veer too far to the left.

I will always stand up for Israel’s right to defend itself.

She managed to say things that would be appealing to both sides.

President Biden and I are working to end this war, such that Israel is secure, the hostages are released, the suffering in Gaza ends, and the Palestinian people can realize their right to dignity, security, freedom, and self-determination.

It was a remarkable moment to hear the arena erupt at the end of that section, to hear her support for both the Israelis and the Palestinians reveal that kind of enthusiasm, after the party has been really ripped apart for months about how to handle the situation.

Fellow Americans, I love our country with all my heart.

She ended this speech with a paean to patriotism.

We are the heirs to the greatest democracy in the history of the world.

She dove headlong into the American exceptionalism argument that is native to Republicans and to older generations of politicians, like Joe Biden.

It is now our turn to do what generations before us have done. Guided by optimism and faith to fight for this country we love. To fight —

But is not something you always hear from younger Democrats, who are a little less comfortable with some of the flag waving.

Let’s vote for it. And together, let us write the next great chapter in the most extraordinary story ever told. Thank you. God bless you and may God bless the United States of America. Thank you all.

She seemed to really be taking aim at this criticism of her, which is that she’s this radical California liberal and she can’t be trusted with the keys to the country.

I mean, that was one of the tasks that she had tonight, was to make the argument, particularly to voters in the middle, the suburban voters that used to vote for Republicans, but have been repelled by Trump and driven to Democrats in the last several years, that they can vote for her without worrying that she’s some kind of Bernie Sanders acolyte.

And some of that is based on the way she ran her last presidential campaign. Some of it, frankly, is because she’s a Black woman from California. And that the voters who will determine this election are voters in less diverse states, for the most part.

So Reid stepping back here, it feels worth remembering just where we were at the end of the Republican National Convention that was just over a month ago. Things couldn’t have felt more different. The GOP was on top of the world, while the Democrats were in disarray over Biden’s refusal to leave the race.

And now here we are. And it feels like things couldn’t be better for the Democrats. At least that’s the feeling I’m having coming out of this convention.

I mean, the whole race has turned upside down from where it was when we left Milwaukee. And Democrats are upbeat. They are confident. It is a party that is remarkably united behind their candidate.

But you have to remember, this election will be very close. It is, indeed, a game of inches in the key battleground states. And what she was trying to do was to present herself as someone who can be trusted as commander in chief to win over the tiny slices of the electorate that will determine the winner in places like Wisconsin, and Michigan, and Pennsylvania, Georgia, and Arizona.

And those are the states that will determine the election. And they have made a calculated decision that those voters needed to see her as a commander in chief, something they had not seen from her before. And we will see in the coming days and weeks whether she’s accomplished that in a way that brings enough of those people on board for her to win a term as president.

Reid, thank you.

Thank you, Sabrina. [WHIMSICAL MUSIC]

Here’s what else you should know today. On Thursday, the Supreme Court allowed Arizona Republicans, for now, to impose tougher voting requirements, including a new rule that people registering to vote there before the coming election must show proof of citizenship.

As a result, Arizonans newly registering to vote for this year’s presidential election must provide copies of one of several documents, such as a birth certificate or a passport, in order to prove that they are US citizens. Democrats have denounced the new rule as an attempt to prevent legal immigrants from voting.

And US Health officials have approved the latest slate of annual COVID vaccines, clearing the way for Americans six months and older to receive updated shots in the coming days. The approvals come amid a prolonged surge of COVID infections, which have risen all summer.

Remember to catch a new episode of “The Interview” right here tomorrow. This week, Lulu Garcia-Navarro talks with Jenna Ortega, the star of the Netflix series “Wednesday,” and the new “Bettlejuice” sequel, about her head-spinning success over the past few years.

One day I just I woke up in somebody else’s shoes. I felt like I had entered somebody else’s life. And I didn’t know how to get back to mine.

Today’s episode was produced by Lynsea Garrison, Rob Szypko, Jessica Cheung, Asthaa Chaturvedi, and Shannon Lin. It was edited by Rachel Quester, contains original music by Rowan Niemisto, Dan Powell, Diane Wong, and Marion Lozano, and was engineered by Chris Wood. Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly.

[THEME MUSIC]

That’s it for “The Daily.” I’m Sabrina Tavernise. See you on Monday.

• Apple Podcasts
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Hosted by Sabrina Tavernise

Featuring Astead W. Herndon and Reid J. Epstein

Produced by Lynsea Garrison Rob Szypko Jessica Cheung Asthaa Chaturvedi and Shannon Lin

Edited by Rachel Quester

Original music by Rowan Niemisto Marion Lozano Dan Powell and Diane Wong

Engineered by Chris Wood

Listen and follow ‘The Daily’ Apple Podcasts | Spotify | Amazon Music | YouTube | iHeartRadio

Last night, at the Democratic National Convention, Vice President Kamala Harris accepted her party’s nomination, becoming the first woman of color in U.S. history to do so.

Astead W. Herndon and Reid J. Epstein, who cover politics for The Times, discuss the story this convention told about Ms. Harris — and whether that story could be enough to win the presidential election.

On today’s episode

Astead W. Herndon , a national politics reporter and the host of the politics podcast “ The Run-Up ” for The New York Times.

Reid J. Epstein , who covers politics for The New York Times.

Background reading

Kamala Harris promised to chart a “new way forward” as she accepted the nomination.

“The Run-Up”: It’s her party now. What’s different?

There are a lot of ways to listen to The Daily. Here’s how.

We aim to make transcripts available the next workday after an episode’s publication. You can find them at the top of the page.

The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Sydney Harper, Michael Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Diana Nguyen, Marion Lozano, Corey Schreppel, Rob Szypko, Elisheba Ittoop, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky, Nina Feldman, Will Reid, Carlos Prieto, Ben Calhoun, Susan Lee, Lexie Diao, Mary Wilson, Alex Stern, Sophia Lanman, Shannon Lin, Diane Wong, Devon Taylor, Alyssa Moxley, Olivia Natt, Daniel Ramirez and Brendan Klinkenberg.

Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly. Special thanks to Sam Dolnick, Paula Szuchman, Lisa Tobin, Larissa Anderson, Julia Simon, Sofia Milan, Mahima Chablani, Elizabeth Davis-Moorer, Jeffrey Miranda, Maddy Masiello, Isabella Anderson, Nina Lassam and Nick Pitman.

Astead W. Herndon is a national politics reporter and the host of the politics podcast “The Run-Up.” More about Astead W. Herndon

Reid J. Epstein covers campaigns and elections from Washington. Before joining The Times in 2019, he worked at The Wall Street Journal, Politico, Newsday and The Milwaukee Journal Sentinel. More about Reid J. Epstein

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