1) They won't be the only second hand car dealer at that certain area, you'll see a row of them. If they're the only one there, that place is not a good place. Hence, huge competition.
2) Lack of creativity in this business, the best they can do is to wax their car, and not many are doing that.
3) Lack of choices. Most of the cars are Proton, boring..
So to revive this business, or simply overcome your competition, something new has to be done. Here are several tips from me.
1) Get a strategic place, surely people will go to a place where they can choose and compare. Being neighbour with your competitors is not a problem if you have the advantage - being different from them.
2) To be different, you have to make some changes to your product - second-hand cars. Buy in cars that are slightly worn out, but with no major accident and good engine. Give the cars new body kit, new head lamp, new rims, and you can sell it for a good price.
The idea here is to be different. Everyone else is selling cars which are as the same condition when the second hand dealer bought them in, maybe just some minor fix up. You can have a second hand shop that sell modified cars, not radically modified, make sure it's just enough to make the cars look new.
This way, your cars will look new, and they can fetch a good price.
3) Make sure your cars are waxed. It really effect the looks.
4) Provide good services, give good warranty. You can give longer warranty period if you sell good cars, because you're confident of your products.
5) Usually people buy second hand cars at the nearest shop. So use this advantage. Set up a package for minor services and car wash service. Make it like a membership. For instance, buyer pays extra RM500 for 1 year free service. And they can choose to extend it by applying for membership, which annual or monthly fee. The fee is up to you to decide.
There are various ideas to be explored in the second hand car business, so go and think of it!
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