So as a part time motor trader how do you protect your burgeoning empire from unforeseen disaster?

The motor trade has never been more attractive to people looking to start a new career. The Institute of the Motor Industry is predicting a doubling of apprenticeships in the motor trade over the next five years. Motor related websites such as autotrader.co.uk, motors.co.uk and eBay are receiving a massive following with the motoring public; it has never been a better time for an ambitious motor trader to advertise their vehicle stocks and services to a wider audience.

Today’s internet savvy motor trader can place online classified adverts in seconds, reaching hundreds of potential buyers up and down the country. With all these opportunities however come hurdles; no longer can Arthur Daily type motor traders place over inflated priced on forecourt vehicles and simply sit and wait for an unsuspecting local to buy. Today’s motor buyer is armed with price comparison information from across the country.

So how can a motor trader not only compete with the competition but also return a profit?
The internet provides access to a wider audience, allowing motor dealers to attract buyers from across the country; so why not specialise? Maybe you have an interest in a particular type of vehicle e.g. Performance Cars or Campervans. As a specialist you can attract visitors from out of your local area and by building up a relationship with customers from far and wide obtain recommendation and repeat sales.

Once you have decided on the type of motors to sell, how else can you ensure profitability?

Managing costs that old business mantra. Advertising online and via your own website allows you to reach a massive audience, while high street forecourts can prove to be a very high fixed cost overhead, especially in a recession. Flexibility is essential for any business the ability to manage costs react quickly to opportunities and threats keep you in business. Just as trading online can save motor traders time and money, using online suppliers for your business such as insurance brokers and stationary suppliers provide motor traders with the ability to compare quotes, buy and make valuable savings quickly.

Cheaper insurance not cheaper cover

The right motor trade insurance provides essential cover, should you damage a customer’s car or suffer a break-in. Today it is possible to obtain quotes for motor trade insurance quotations from simple road risk (a legal requirement for any motor trade business using vehicles on the public highway) to motor trade insurance policies that includes vehicles in stock, employers and public liability cover in minutes online.

Motor Trade Insurance is designed for:

• Car and Motorcycle Sales and Service
• Bodywork Repairers
• Tyre and Exhaust Stations
• Auto Electricians
• Car Valeters
• MOT Test Centres
• Vehicle audio installers
• Windscreen Fitters