⭐ How do I become a car dealer?

Step 1: Buy car

Step 2: Fix car

Step 3: Sell car

Congrats, you’re now a car dealer.

But if you want to open up a dealership, the playbook is a bit different.

In all my time in this industry, I’ve observed 2 paths to success as a car dealer:

  1. Start flipping cars on Craigslist and Facebook Marketplace.
  2. Work your way up the “dealership ladder” from salesperson all the way to ownership.
  3. You will learn a ton about the industry,

    Step 1: Join a local dealer group. Step 2: Ask to attend an auction as a "driver". Step 3: Observe, listen and ask lots of questions.

    More than any book or course will ever teach you.

3 ways opening up a car dealership has changed:

  • Tough or impossible to get zoning in many markets
  • Value of the "frontage" has significantly decreased due to the internet.
  • Consumers care about a better experience, not a better waiting room.

Smart dealers are adapting.

Build vs Buy

First dealership: 100% Build

Second dealership and beyond: 100% Buy

Do I need to own my dealership’s real estate:

If you don’t own the real estate.

Or if you don’t have a path towards owning the real estate.

Don’t open the car dealership.

Most important personality trait to start a dealership:

Scrappy/resourceful.

Everything else can be taught.

Show me your credit card bill and I’ll tell you if you’re fit for this industry.

Over the coming weeks I’ll begin sharing more step-by-step info on how to set yourself up for success with either path.

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Welcome to the Car Buyer Cheatsheet
Welcome to the Car Buyer Cheatsheet