What I've Been Up To
 

As I shared back in April, I had a bit of a life change when I was laid off from my aerospace management job of 8 years. For quite some time it appeared that a move was inevitable, but there was simply nothing that worked out. With kids' school and fall sports starting it became time to fish or cut bait, and we made the decision to stay put in Wichita and make it work. Our local aerospace industry has never really recovered from 2008, and with very few jobs available I decided to make my own luck. So in late July I obtained a used auto dealer's license and started my own business buying, refurbishing, and selling used cars.

Much like a crackhead that also deals, I plan to stick with things that interest me, like my current inventory of a '99 Jeep Wrangler, '97 Boxster, and '11 Jeep Wrangler. I don't think I would stay interested dealing in Corollas and Accords. I leased a 1200 sq ft shop that has heat and A/C (thank God), and plan on keeping a small inventory of vehicles stored inside. Great side benefit for a car guy, it also gives me a fantastic place to detail and wrench on my own cars. Obligatory camera phone pics are below.

http://i195.photobucket.com/albums/z...pszxfllnqq.jpg
http://i195.photobucket.com/albums/z...pslcw4fyu8.jpg
http://i195.photobucket.com/albums/z...pswiq2ttcy.jpg

(Mustang and Mazda5 not for sale)

I plan to mainly focus on marketing each individual car, I don't need foot traffic like an individual dealership. Just like the cars I've sold over the years as an individual I plan to fully refurbish everything that I sell, thoroughly document all work done, and advertise them in excruciating detail. Because I have auction access I also plan to offer flat-rate auto location services.

I'm not totally discarding my aerospace engineering degree (and pending MBA), just sitting them aside for a bit. If something local works out in aerospace then I will retain this as a side business. Though for now I have to say, I love working for myself.

Inspirational Matt, good luck! I've been charged with finding a G50 coupe for a friend, one of my competitors, so if you find something, let me know.

Cool. I visited a low volume dealer recently when I was considering an "affordable 996". A much different business model than needing foot traffic to push metal out the door. Good luck to you!

Matt, there's a guy here in Portland who does essentially what you are doing. He had all his inventory indoors, and he dealt mostly BMW's with the occasional Porsche, Merc or LandRover plus whatever trade in he might take...

Business has been good for him, he relocated to a larger space; I check his inventory from time to time, and stuff seems to move. (Stuff always seems pretty high to me, too, but I guess you need some wiggle room)

(BTW, he is just a super nice guy, no hint of a used car salesman in his persona.)

Good Luck in this endeavor. I'd buy a car from you, if the need arose!

He maintains a simple website...

http://www.stanbennettsales.com/index.htm

chit..that is a nice jeep!!

good luck..i've always thought one should use their siuperpower for good..and we all know what your superpower is...finding great cars..

have fun!!

Best of luck to ya Matt! Thanks for posting this...

ps: The fellow I bought my F150 from has a small lot but a huge % of his sales are via the Internet....someone else does all that for him though. Something to think about as this goes forward...

Congratulations. Working for yourself is great, until you need help. Then you start working for them. Stay small and you will stay happy.

That's a ballsy move and I applaud your effort. Best of luck with your new endeavor.

You know how fond I am of you, Matt. You are just one of those guys.

I can't tell you how much confidence I have in your abilities to make this work.

Good on you, young man.

Good luck, Matt, and congratulations on the new business.

I've always wanted to get together with someone like you to detail for. I was a detailer for years back in college and keep the hobby alive with my personal cars but I like bringing beat up cars back to former glory and since my personal cars never get too bad, it's not as fun. It always amazes me how few sellers understand that simply turning on a vacuum can do wonders for your sale chances!

All the best to you. I hope it works out well and you have fun in the process.

Welcome to the auto biz Matt! You'll do fine, sounds like you have a lot of experience already. Just remember the golden rule, buy low, sell high.

Wow, that's impressive and ballsy. Way to go. I hope it works out very well for you.

Ha! Another rocket scientist looking for a real job! Welcome to the club!
Best of luck. I'll bet the Corollas and Accords could keep the cash flow steady, even if they aren't any fun.

Thanks all!

I'm proud to say that I'm not a former salesman of any kind. That's definitely not part of my business model. BTW, I want to meet the guy that gives $17950 for 944S. YGBSM!

I'll make you a good deal on it.:D

1999 Jeep Wrangler Sahara - Exceptional Condition TJ

At the moment I'm 100% marketing via the internet. Right now it's purely Craigslist, Ebay, and possibly Autotrader. I've considered a website but don't know how I would get the traffic that the aforementioned sites would get. As for having someone else do it, I suspect I'd pay a fortune to get the level of fidelity that I expect. If you check out my Jeep ad link above, I'm big on detail.

The feeling is absolutely mutual. When you finally wear out that 4Runner, I'm here to help.

I honestly spend more time detailing than anything else. Were I to start increasing my inventory I likely wouldn't have the time and would have to consider subbing some of it out. I agree though, it's amazing how few people actually clean their car before selling.

My grandfather was a self made businessman, he made most of his money by starting multiple mobile home parks and sales lots. He had two favorite sayings:

"You make your money when you buy, not when you sell"
"If they don't say no at least once, you paid too much"

He was a huge influence on me, I'm doing my best to channel him in this business venture.

The best part of making this decision and going for it now is that years from now you will never look back regretting that you didn't give it a go. Best of luck with your new business....

Congrats Matt! Like Paul said, we know you can do it! And let me know if you need eyes on something out here or a place to crash when you come get something.

Don't get me wrong, I won't turn down a good deal. It's just not really my focus. I've done well selling exceptionally well sorted and clean Porsches over the years, because Porsche guys will pay for a really great car.

Exactly my thought. You only live once.

Sid, I owe you and Thuy a special thanks for your time and help when I was considering a move to Mesa. Both of you, as well as many other Pelicans that offered input, made the thought of moving from KS to AZ far less intimidating.

No problem Matt. We are happy to help out a friend in need. Come back out sometime when that cold KS winter gets too long!

You're living the dream Matt!

Very cool!! Good luck in your new endeavor!

MANY years ago, this fellow that lived in a the same condos as I used to "move cars" for a living....he'd visit the auctions, deal mainly in cars like the above, pay another guy $100 (back then) to detail/clean 'em up and then flip for $...sometimes not a lot, but he was more of a "volume type". He had a different business model than you, but it seemed to work. I just remember one thing he used to say: He buy "any" color of car so long as it was red, white, or black :D....dunno if he was serious, but I think he was. Ran into an old hs friend in Lowe's a few years ago...he's been in the "car lot" biz for several decades now....as we we reminiscing and talking, it became quite apparent that he's done quite well for himself....he also dealt mostly with the left side of the "bell curve" based upon where he told me his lots were....LOTS of ways to "skin a dawg"...you'll find your niche and make it "work"...that's what guys like you do!!!

Oh yeah...Internet is right up your alley. The guy I referred to is "older" and has had his "lot" for decades....he just likes to source "nice" vehicles, have 'em serviced & cleaned then turn a reasonable profit while he sits behind a desk and makes $. Oh yeah....he kind 'of "lucked" into a grandfather "zoning" bonanza too. He'll probably make more on selling his "lot & building" (a couple of million I'd suspect) than he's made selling cars when the time comes. Lots of ways to "skin a dawg", and you've got a VERY sharp knife ;). Best of luck...you're gonna do great!!!

Hey Matt, I was wondering how you were doing... Glad to hear you're doing something and I hope it's able to keep you afloat for a while. Kudos on not getting beaten down and demoralized and channeling your energies into something that might go someplace. BTDT! All the best!

Good luck with your venture, maybe becoming known as a good used Porsche specialist will help you along.They seem to do well in the UK. Keep your overheads low and you will survive in the hard times as they come

Although somewhat cheesy , here is another motto to live by when you are self employed.
A local guy that I grew up with was a salesman for a local Chevy dealer, he was one of those heavy hitter guys, sold a LOT of cars, and got all sorts of awards from chevy, ended up running the place.
When I first opened up, I grossly undercharged him for a bunch of hot rod work on his old chevelle, and he told me to always remember that " profit is not a dirty word" He said that I can tell that you love what you do, but you have to remember why you come to work every day. It will eventually loose its appeal if you are not making money at it.

My opinion is that you should have a website. If nothing else to prove you're not some fly by night guy selling from a parking lot. It doesn't have to be fancy. That's my opinion only. Of course anyone can set up a website.

This is a medium sized dealer that sells a lot of BMWs. I think they have dialed back recently, they were the largest volume dealer outside BMW dealers themselves. Anyway, I like the turntable they use for 360° photos.

Advantage-Harman Auto Group

Got to have a website.

Good luck with the car business Matt! I've been tempted in the past to buy one of your cars (and boat) even when I didn't need one, just because I knew they had been well maintained.

Yup.

Matt, my daughter in Phoenix does a lot of web content stuff for a very large entertainment company (they are doing next years Super Bowl), if you like I can have her get in touch.

She is in CT this week on a big job.

Agree with a website. Does not have to be anything fancy.

I have always entertained the idea of doing this as a side gig with my wife. Never really looked into all the details and steps needed to kick it off.

Best of luck to you Matt!

I've always heard that true professionals end up in a better spot after a disruption like being fired/laid-off...this is living proof.

Also, a website does not need to be fancy...but it MUST be interactive, intuitive, and easy to navigate.

Less is more :)

Matt,
Awesome to hear that your doing 'YOUR" thing. As for a website, Stomachmonkey turned me to www.1&1.com and they are very good. Check them out.

Let me know if you ever source a 996TT, lapis or red TIP coupe with saddleback leather...

Good for you!!!! This is something my father has always wanted me to do. After I dabbled in Porsche sales (after my life changing lay-off in 2009), I really learned a lot about "the deal" and some of the in's and out's of professional car sales. One problem with me, is I get attached to stuff!!!! But one day, I think I'll follow a formula similar to yours and give it a go.

Ok, I apparently need a website.:cool:

Paul, I'd love some pointers from someone that does it for a living. At her convenience please, and I don't want to take much of her time.

Matt...sent you a PM...not sure if it went through or not....lemme know if you didn't get it.

Great to see Matt! Hows things going these days??

Hey Joe, things are going well. I have a day job in aerospace at a local electromechanical component company doing a mix of sales and engineering, and I retained the dealership and sell a few cars per month. It's more of a hobby now, fun to tinker and make a few extra bucks. It also allows me to keep my leased 1200 sq ft climate controlled shop, which really has me spoiled. I can't complain about much, thanks for asking!

Good stuff - keep that entrepreneurial spirit alive and kicking!

Matt
Lapis blue 996TT with saddle back interior - tiptronic please