If you have been considering venturing into the motor trade industry, then taking the part-time motor trader route is a great way on which you can get a real taste of the industry without making a full commitment of both your finances and your time. From part-time traders insurance to where you’re likely to work, we look at what you need to get started.
A huge benefit of becoming a part-time motor trader if that it will also allow you the time to continue earning money via other avenue whilst you get your business off the ground. Of course, being your own boss and making your own hours isn’t to be sneezed at either. However, don’t be fooled into thinking that that means you won’t have to work hard. In order to make your business as a part-time trader work then you will have to put the work in, plan carefully and make sure you get the right advice.
What part of the motor trade business?
One of the first things that you will need to decide is just what part of the motor trade business you are looking to break into; and there are quite a few to choose from. Whether you choose sales, or repairs and maintenance it is important to play to your strengths. Perhaps you are considering fixing up cars that you could sell on – a mixture of both skills that it is really only worth pursuing if you are a competent mechanic and also have the gift for sales, otherwise you could end up spending out on a car only to have problems moving it on.
It is important to remember that whatever part-time motor trade business you do decide to go into you need to make sure that you get the most appropriate part-time motor trade insurance in order to make sure that your new venture is covered in the event of any problems.
Other things to consider
Whether you plan to work as a mechanic or sell cars you will need some sort of premises to use as a base. If you are working as a mechanic you will also need the appropriate tools and if you plan to be mobile a vehicle that is big enough, and reliable enough, to hold them.
Whatever path you do choose to take it is important that you don’t rush into it without careful planning, make sure you know your market and have thought through every part of the process of setting yourself up as a part-time motor trader.