Finding a Premises
Through your university business course or your experience in selling cars in a motor sales business, you’ll know the decision regarding where the location of your car sales business will be is going to be one of the biggest decisions you make in your entrepreneurship. Getting it wrong could set you up for failure and your career in managing a business will be short lived. Finding a location where your motor sales business can be easily found and where there is space or opportunity for customers to test drive the cars you will be selling, will be to the benefit of your motor sales business.
Insurance For Motor Traders
As a graduate of university you’ll know that you’ll need to make sure your motor trade entrepreneurship has the correct insurance policy, not only to protect your business now, but to protect it in the future. It doesn’t matter what sector of the motor trade your business is in, whether it’s a mechanics business or car sales, getting the insurance right is a key part in your entrepreneurship. This includes making sure your business isn’t financially hamstrung if you have to halt selling cars for a period of time due to damage to the premises.
Following on from general Motor Trade insurance, if you’re in management you should be well aware that your motor sales business will be legally required to take out an Employers’ Liability insurance product – even if you have only one employee! However if you are just starting out in your motor trade entrepreneurship and don’t currently have any employees then you won’t need to take out an Employers’ Liability insurance policy. Making sure your Employers’ Liability insurance is in order is an important part of managing a business, and any entrepreneur will confirm that. By ensuring that your motor sales business has its Liability insurance in order, you can avoid hefty fines.
Honing the Sales Skills of Your Staff
Managing a business, especially one that includes a sales department, often means ensuring that those who work for you are constantly improving their sales skills. Ensuring that you not only catch the competition but stay ahead. There are many ways to do this, such as sending your sales staff to courses where they can improve their skills – this doesn’t necessarily mean university courses. Indeed investing in your staff is a key aspect of managing a business as it can help lower staff turnover rate as well as improving morale which in turn can increase motor sales.
In this post we have only covered a small part of making a motor trade entrepreneurship successful, but it should have given you a brief insight into topics such as Motor Trade insurance. Starting and managing a business is a difficult task, so it’s recommended that you explore learning more about management by looking into university courses as well as other management courses. Speaking to other entrepreneurs who are in the business of selling cars can also be beneficial, as they may be able to offer you insight into the motor sales business that courses cannot.