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[joshwyatt]

Firstly, I would like to thank OOF and it's members for the support over the last year. It would be impossible to mention everyone, but you've made such a positive difference.
Hopefully, I won't bore too many people - My parents got divorced, and the house we live in would have to be sold and a sizeable chunk of that capital would have to be given to my father leaving us just enough to buy another house.
So, I said to my mother take out an additional mortgage and give the money to me, I'll buy and sell cars and try and make enough money to pay my father off; £63,000 in total.

The biggest outlay was the £6000 for the motor trade insurance. My renewal has come through, and it's now £4900...which is very good.

There had always been the automatic assumption that we'd only do it for a year, but after discussions we may do it for a further two years.
I've now made enough connections to be able to get vehicles cheap, and repairs, paint work and pretty much everything. I think the first year would be the hardest, and hopefully subsequent years would be easier.

I would have no problem in continuing, but I'm unsure whether it'd be wise. Being 20, I will freely admit I don't have enough life experience to really know. Any opinions are greatly received. Perhaps, others who have run a business can advise?
The one thing I find the hardest is the mix of people who come to view vehicles. It's the abrupt, rude arrogant one's. I always try and be nice, but sometimes I really want to tell them to get lost, but feel I can't. That's the thing I least enjoy, coupled with the fact I work from home...there's never a swicth off point.
90% of people are excellent, it's just the 10% that seem to spoil it. They seem to think that because I sell vehicles, I'm fair game and you can be rude and arrogant to me.

I'm just not sure what to do?

[The Red Baron]

no.1 josh is do you enjoy it?
no.2 if its bringing in a nice income why not carry on.
i wish i was in your position as i know what i would be doing.
jon.

[tunnie]

Carry on and avoid/ignore the annoying tyre kickers! Maybe try and shift lots of smaller cars which are cheap to run? There are always buyers for those, also keep an eye on bikes. Those BMW Police RT's went for silly cheap money, easily some nice 4 figure profits there.

Don't like to admit it, but Omega's now are almost worthless, youngest one being 7 years really, so unless you get super low millage ones. Go for other makes, VW's & BMW's all sell well!

[Martin_1962]

As you are making a decent amount of money I would say continue doing it as long as you feel up to it.

Perhaps look at premises.

If you want to do something else use to fund that - perhaps a course, or further education.

Don't lose sight of the fact people like you, and that you have a lot of contacts.

[Jimbob]

what ever you do in life, you always have that 10% to deal with.

I see youve built up a good reputation, if your making money, keep it up 

[albitz]

If you enjoy what your doing, and you feel you can make a good living from it, then why not just carry on Josh ?
If people are rude and arrogant to you Josh, then give them some of the same back,imo. Just tell them to break off.You shouldnt need to sacrifice your dignity to sell a car.
You have become known as a very honest bloke in your time on here, and it would be nice to see someone like yourself make an honest living from the motor trade - which as we all know has a reputation for being full of sharks and spivs.

[Kevin Wood]

Bottom line: do you enjoy it?

.. and have you, or will you, achieve your goal?

Life's too short to spend time doing a job you hate - unless -  it's getting you towards a goal that you can focus on, thus you can stomach it for a year or two.

Most jobs involve dealing with the odd R.Sole, though, in fairness. You have to find a way of allowing the water to run off the duck's back. They won't give you a second thought as they drive off into the sunset so find a way of giving them no more than the emotional resources they deserve.

So - assume you find a way to discount the idiots. Do you then enjoy it when the punter is a joy to deal with and it all goes smoothly?


Kevin

[Kevin Wood]

There you go.. I got interrupted while typing that and everyone has basically said the same thing in different words.

Kevin

[skyblue]

Josh, fair play to ya for having the guts to start this when your chips were down and by the sound of it you are making it succesfull go of it aswell. So from an old fart that wishes he had the guts to go it alone and do something that he enjoys  doing I say CARRY ON DOING IT as you may regret it in later life

[Mysteryman]

This is what you need to do Josh:

Tell your mum to send me all of her money. I guarantee I will quadruple it within a month. I will PM you the address of my Nigerian branch office. Be quick, this is a limited opportunity.

[henryd]

josh, if you enjoy what you do keep going,you are young enough to continue for a few years and still change your mind if you want too.I have been self employed running my own business repairing cars for some 22 years now and although times have sometimes been difficult I wouldn't change anything if I had my time over again.
good luck with whatever path you choose
Henry

[Del Boy]

Times in the motor trade are getting hard, to be honest, I'm going to give it up soon, when I was your age Josh I was trading vehicles and got really into it, done it for a good few years and built up really well. Then certain things happened and it got pushed aside and I did other stuff. Moving back into it basically when I got the 3 series beemer a year and a half roughly ago, I got right back into it and have ended up here. To be honest though I just can't be doing with it anymore. So pretty much when I'm cleared of stock that'll be it altogether more than likely.

Josh I'd say to you though stick at it, I wish I had when I was your age, and you have got to be tough in this game, don't back down to people, don't let them be rude and if they are, tell them. You mate could defiantly go places in the motor trade 

[aaronjb]

I'd say - if you're making a decent living (not necessarily an easy thing to come by, these days!) then keep doing it, unless you have another career to fall back on that you're already trained up for..

No idea what you're making money wise, but there's a good chance that you'd end up making less in whatever job you go for, should you switch careers, as you'll be starting off at 'the bottom' again (without a degree to get you a leg up - been there, done that )

Most jobs involve dealing with the odd R.Sole, though, in fairness. You have to find a way of allowing the water to run off the duck's back. They won't give you a second thought as they drive off into the sunset so find a way of giving them no more than the emotional resources they deserve.

Absolutely agree with what Kevin says there, too.

Having worked for myself for a time - the key is to be able to maintain a work/life balance and switch off from work - otherwise those R. Soles will drown out the good points until you end up hating life.

Trouble is, they exist everywhere - if you go and work for 'a boss' there's also the chance that said boss ends up being one of said R.Soles! (Saying nothing, in case he's watching )

Maintaining that work/life balance is hard when you're self employed - but as someone else suggested, one way would be to look for premises (also an opportunity to take on staff and/or expand!) so you can physically leave work.  That's the thing I missed most, personally..

(And now I do a job that supplies me with a BlackBerry, so I never leave work! )

[geoffr70]

good and bad everywhere! Better the devil you know (business), and you'd never sell/get rid/wind up a profitable business! You've done the hard work now!

[Omegatoy]

As said enjoyment of what you do is the main thing,
however,
if it brings in a decent income and the only fly in the ointment
is the 10% (which you are bound to get in any trade)
your only 20? my god you are laughing Josh, you have succesfully created a business that from all accounts is doing ok?
the first year is usually make or break in any business to be honest, yes the car trade is getting harder as the recession bites, but here only the good ones stay afloat.so my opinion is stick with it to be honest, you will hate working for someone else if you have done this for a year, because at the moment you are the boss you cn please yourself how much work you do or dont, you can take time off when you want you can afford to be picky and choosy over the cars you buy, you can if you want buy an indulgement motor for yourself with a view to smoking it around for a few weeks, with a view to making a profit when the right buyer turns up,
the 10% should be a challenge to turning them from being arseholes to customers even if you have to eat humble pie doing it, when you can turn just one of these  the high is great!!
bottom line is stick with it mate, you can make enough money to support your loved ones and have a pretty good life, the contacts you have made are worth thier weight in gold couple of years down the line, give it up now and you lose it all?
if you can ignore the down days then stick with it mate!
G