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Let's see how much you made from this sale. You paid $4,400 + you spend $350 on fixing minor issues, so your total cost was $4,750, but you sold it for $6,600, so your net profit from this sale is $6,600-$4,750 = $1,850
Not bad for few hours of work. You see if you buy the right type of cars and price them right, there is no reason you can't sell 2-3 cars a month and make a handsome extra income each month.
I have a friend, who has a small insurance business. He has been selling cars on the side for last 25 years, and he told me just by selling 2-3 cars a month, he was able to pay for college for all his three kids.
On the other hand, if you want to grow, then start small but reinvest the profit you make from selling each car back into the business and soon you will see, you are growing at a fast and steady pace, but you have to be focused and dedicated.
Let's see what you will learn from this book:
12 Steps to get started
All 50 State licensing requirements
Bond and insurance you will need
Personal financial statement & sample
How to incorporate and Name your business
Sample Article of Incorporation
Which is the best legal business entity for you
How to get a EIN number and open a Commercial Bank account
And much more!
Customer ReviewsMost Helpful
By Roman_924567 on 01-23-18
About 15 actual minutes worth of content
What would have made How to Start, Run and Grow a Used Car Dealership on a Budget better?
Nicholas Santasier performance is ok. The content is crap. First third of the book he just reads off each state requirements, the 3rd part of the book just reads off common terms and definition.