The Do's and Dont's of Becoming a Motor Trader

Deciding to become a motor trader and open your own business takes a lot of time and consideration, there are certain things you need to ensure are done before you open the doors and there are plenty mistakes you can make a long the way.

What You Must Do

One of the first things you will want to do once you have found and signed for a suitable property is to get your insurance in place. Opening the doors to any business without adequate insurance is a disaster waiting to happen.

Firstly ensure that it covers your building and tools along with your ability to drive customer vehicles. In the event of an accident in a customers vehicle you want the repairs or replacement to be carried out as quickly as possible.

The next thing after insurance is to ensure you have a good website. These days the website is an essential asset, people don't search the telephone directory any more, they go online, learn as much as they can about the business before even considering to book their vehicle in.

Lastly you must offer exceptional customer service, you want repeat and referral business, this is the business that keeps your company's doors open, you cannot rely on marketing alone.

What You Must Never Do

While there are so many things you can do right, there are mistakes you can make along the way, mistakes that can cost you dearly in the long run.

The first mistake is when hiring staff you forget or don't bother getting employer's liability insurance. Now what you may not realise is this is a legal requirement in the UK which protects you when a staff member injures themselves at work. It can amount to thousands in claims and can leave you in serious financial trouble.

Another thing you must never do is allow potential buyers to drive a vehicle you have for sale without having the right cover in place. Demonstration cover enables you to allow customers to try before they buy. This also increases your chances of making a sale.

Lastly what you must never do under any circumstances is to lie to your customers. Your customers are what keeps the business going and you want to enjoy the benefit of repeat and referral business. While marketing online can increase brand awareness, as a motor trader you need your customers to make profits and rise to success.

Review Your Business Insurance Policy Regularly to Ensure the Correct Level of Cover

In order to always have adequate cover for your company you need to review your business insurance policy on a regular basis. As you know the needs of your business are constantly changing, you may be adding new vehicles, you may have sold some vehicles or moved to a bigger property.

This type of policy offers a complete solution for your business covering every aspect of your day to day activities from the building you work from, you are kept covered against fire, theft and damage. Then there are your assets which you keep inside the building, maybe expensive computer equipment or your vehicles overnight.

Other aspects you need to consider which can change is your liability cover, maybe you are welcoming more customers through your doors and realise that the public liability cover you have at the moment just isn't enough any more. You need this level of cover to protect you should a customer injure themselves while visiting your property. A public liability claim against you can leave you in serious financial trouble if you don't have the right level of cover. In the event you don't have enough public liability cover, you will have to pay in the balance, sometimes this can amount to thousands.

If you have business vehicles chances are these are constantly changing, you buy new vehicles and sell the older ones, you need to constantly update your policy to ensure that you are not paying for vehicles you no longer own and that the vehicles you have on the road are all covered.

Saving Money

You should take the time to review your policy a few times a year, when reviewing you can ensure that you have the right level of cover and make changes where necessary. Remember that having adequate cover can save you a fortune in the long run. Without adequate cover you will need to pay out of your own bank balance, this can sometimes leave a company in serious financial difficulty.

Keep a risk assessment close at hand and compare your policy to the assessment, go through all the cover you have and ensure it is enough, that the vehicles you have under your business name are all covered and that you are not paying for cover you don't need.

Often you will find that you are paying for cover that doesn't assist your business in any way. Maybe you're paying for drivers, but don't have drivers or you may be paying for equipment cover, but you don't have any equipment. This is why reviewing your business insurance policy at regular intervals can save you money moving forward.

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How Do Motor Trade Auctions Work?

Motor trade auctions are one of the best places to find great cars at affordable prices, the perfect choice if you are looking for a vehicle to resell at your dealership. The advantage to this type of buying is that you can buy vehicles in excellent body condition with minor mechanical repairs, vehicles with great engines that have minor body repairs or those that are ready to drive away.

Auctions have become a very popular way to purchase vehicles for the private buyers and the dealerships. They are also a great way to sell a vehicle that you are having trouble selling, set a reserve and only part with the vehicle if it reaches that amount or over.

What You Need to Know

The first decision you need to make is to determine what type of auction you wish to attend, there are both online and those that are held face to face. Online gives you access to vehicles from across the country.

In both instances you will want to find out what vehicles are available and determine how much you would be willing to pay. It's essential that you view the vehicle first, try and arrange for someone to view a vehicle for sale on an auction site before you bid.

The auction houses will allow a set period of time where you can view the vehicle, see it run and determine any problems it may have, this will help you come up with the right amount of money to pay for the car.

Next you will need to pay a bidders fee if you are buying from an auction house, the bidders fee gives you the ability to bid on vehicles. Once the fee is paid you will receive a number which is used during the bidding process and to register the owner. Remember that most auction houses only accept cash.

If you win a bid on a vehicle you will need to have cash in hand or have a bankers draft to prove you have the cash available, you will have a short time frame in which to pay and collect the vehicle.

Online vehicles you can pay within a set number of days via PayPal or pay cash on collection.

Whether you're looking for a great deal to resell or you're looking for a vehicle to fix up, the motor trade auctions offer a good selection that ensures you get the best possible vehicle for the right price. Remember to restrict yourself and have a maximum on each vehicle and don't go above that maximum to make it worthwhile.

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Get Taxi Insurance for Your Whole Company - Here's why

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Taxi insurance is not only designed for the sole trader, but it is the ideal choice for the larger cab companies that have a number of vehicles on the road at any given time.

One of the most important aspects of your business are your vehicles, if one of them is involved in an accident it will not only cost you money that will mean that there is one vehicle not making you any money at all.

As you know the legal requirement to drive on the UK roads is a minimum of third party cover, but as a business person you also know this level of cover is not enough should one of your vehicles be involved in an accident.

When you apply for this level of cover you will be given three choices; third party, third party, fire and theft and comprehensive.  The third party options only cover any third party vehicle for property involved in an accident caused by your driver, you will not cover your cab.

So it is easy to see a comprehensive cover is the most logical and practical choice, protecting both your own vehicles and any third party property more vehicles.

The benefit of this level of cover is that you can add all your cabs under one policy, this makes it more affordable, practical and convenient.  You only have one policy number to remember, when phone number to phone and one claims process to go through.

You also want the peace of mind that your driver’s are protected at all times.  In the event of an accident and should your driver be seriously injured you can a claim against you, which is why you need have adequate cover in place.

When selecting drivers for your business is important to ensure that they are over the age of twenty five, they have clean driving licences and a noclaims bonus, bonus on their private policy.  These three things prove to the broker that your drivers are not a risk.

Of course incomes your biggest risk, transporting passengers.  For this you need a good level of public liability cover.  If one of your cabs are involved in an accident while transporting a passenger this can end up with a large claim against you.  A public liability claim against you is a claim you legally responsible for and they can amount of thousands, leaving your business in serious financial difficulty.

So whether you have one cab were a number of cabs, taxi insurance offers you the full level of protection, convenience and money saving ability that your business needs.

Motor Trade Recruitment in 2013

After a rather disappointing few years in the motor trade recruitment news thanks to the recession which took a grip on the country, things are definitely on the up and up. After we saw so many people losing their jobs and businesses within the industry closing their doors, it's a welcome break to see new jobs hitting the job boards, more companies opening their doors for new employees and more people joining the industry.

Already this year two major vehicle manufacturers have announced that they will be recruiting over one thousand employees between them, a huge improvement to what we have seen in recent years.

As far as internships go, this is also on the rise with the government assisting the smaller companies and enabling them to take on interns, adding more people to this top industry in the UK.

As you probably know the vehicle industry is a huge business here in the UK from the manufacturing plants to the mechanical workshops and from the MOT centres to the car dealerships. These sectors of the industry are constantly needing employees to push the businesses forward and as we see more and more companies getting their finances in order and planting their feet firmly on the ground we can expect to see more jobs coming available in the coming months.

Where to Look

If you are already working in the industry and want a change or you have just completed college and are looking for your first job, then there are a few options available to you. The internet is often the best resource when looking for work in the industry.

The internet provides a host of job sites and advertising available positions on these sites is an affordable way for businesses to find new recruits. Keep your eye on the job sites, check for suitable positions in your area and have your CV ready to be emailed in the blink of an eye.

Remember that when applying for one of these positions you are probably one in a hundred applicants, you need your CV to stand out. Keep it short and to the point, highlight your abilities and accomplishments and ensure that your CV says why you are the best choice for the job.

When it comes to motor trade recruitment this year you can expect a lot of companies hiring again, it's being abreast with the developments, knowing what jobs are coming on the job sites and keeping your CV up to date and ready to send that will help you get your foot in the door for that important interview.

3 Main Reasons Why You Need Construction Insurance

Construction insurance is essential when doing any form of building work. As you know a building site is a very dangerous place, a disaster waiting to happen even with all the health and safety procedures in place and notices up everywhere. Accidents happen, theft happen and storms are uncontrollable, which means you need to be prepared.

Equipment

Your equipment is one of the most expensive parts of any build, it's your equipment that you have purchased that is sitting on a site and anything can happen. A flood can fill the area in minutes, as we have seen lately, your equipment being flooded may mean you cannot complete the job. Not completing the job in many cases means you lose money, which in any industry you cannot afford so you need your equipment and heavy machinery repaired or replaced in a short period of time enabling you to complete the building project quickly and effectively.

Liability

Liability is a very real and serious problem especially on a building site. From public liability cover to professional indemnity, you can save money by having adequate cover in place. Imagine a wall collapsing that you are working on and smashing into the neighbours house, maybe taking out a wall or crushing their vehicle. This is claim against you, a claim you are responsible for which can amount to thousands. It is much safer to have the right level of cover that will pay the claim and give you the ability to continue working without the stress.

The same applies to professional indemnity. Defects often only show up once you have completed the job and been paid, a problem that arises from work carried out is unpaid repairs and in some cases can be a large job which can set you back thousands. With this cover in place you can protect yourself against these defects, getting them repaired and keeping your customer happy.

Materials

On a building site you will purchase your bricks and cement in bulk as you start the job so you don't stand the risk of running out and being left with contractors unable to work. At the same time these materials, which are paid for, sit on the site waiting to be used. An attraction for robbers and in the line of fire from storm damage. You need to have the security that your materials are covered, if you've already paid out good money for the materials replacement will cost you more of your money, eating into your profits. Rather be safe than sorry and with the right construction insurance you can know your materials are always protected against theft or damage.

Save Yourself and Business by Having Fleet Insurance

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Fleet Insurance can save both you and your business money on an annual basis.  The ability to place all your company vehicles under one policy not only offers convenience, but affordability too.

Would you can expect from this level of cover is the convenience of being able to add and remove vehicles as and when needed with only one phone number to call.  As you can imagine place in all vehicles whether they are cars, motorcycles, vans or trucks is a huge benefit to any business that keeps a large number of vehicles at any given time.

When you think of a private auto policy and you purchase a second vehicle, you know it is cheaper to add the new vehicle to your current policy rather than taking out a separate policy for it. The same applies for business vehicles, placing them all under one policy is a cost effective way to ensure all your vehicles are safe on the roads at all time.

Another big benefit to this type of cover is the convenience of only having one premium to pay. Having a number of premiums due can get confusing and sometimes can result in you forgetting to pay one, leaving it to lapse and leaving your vehicle illegally on the road. While you probably didn’t mean to do so, you will then be in a situation where in the event of an accident you don’t have any cover and if stopped by the traffic policy, you will have a hefty sign to pay, the vehicle may even be impounded.

There are other benefits to this policy. Imagine in the event of an accident you now have to phone the broker, but if you have all your vehicles covered by different companies you will be digging through paperwork and wasting valuable time. Having one policy means one phone number to call and one claims process to go through.

Flexibility

It is very important when looking for this type of cover to ensure that the broker you choose offers you flexibility, the ability to add and remove vehicles throughout the year as and when needed.

As a business you may change your vehicles on a regular basis, selling off those that have worked hard for you for a couple of years and replacing them with new ones. You don’t want to end up in a situation where your broker is unwilling to make changes to the policy leaving you paying for vehicles you no longer own.

I cannot stress enough how important it is to review your fleet insurance policy on a regular basis, this way you are saving both you and your business from paying for vehicles unnecessarily and it gives you the ability to ensure the policy is updated with any new vehicles you have acquired.

Why Do Some Motor Traders Work Independently?

English: Peacock Garage. Servicing motor vehicles, rather than Peacocks. A family business with a small fleet of vans.

There are many independently owned mechanical workshops and dealerships around the UK, these motor traders have chosen to work independently for a number of reasons and often being an independent works to their advantage.

Be Your Own Boss

Being part of a large franchise, even if you have purchased the franchise, means you have someone to answer to, strict guidelines to follow and in many cases strict targets to achieve.

This can add extra stress when starting up your own business. In fact franchise opportunities within this industry is similar to those in any other industry. You have the name to help you achieve success and yet you still have rules to abide by and while you can make your own decisions regarding your business, they have to fall within the franchise requirements.

Being an independent means you are your own boss, your business can be as small or large as you want it to be and the only person you have to answer to is yourself.

Reduced Overheads

Being part of a franchise means you don't only have rent to pay for your property, but in many cases you have franchise fees which are due either monthly or annually, putting a higher financial burden on your business.

Now it may be welcomed to use a large company name to help fuel your business, but at the same time with the financial burdens placed on these companies, working on your own is often a more viable option.

Those that work for themselves without being part of a large group enjoy financial freedom, they can pay rent and utilities, hire as many staff as they want and their overheads will be less than those that have chosen to join a large corporation.

Competitive Prices

Often those that work under the name of a well known company are forced to charge a specific amount for labour, parts and even vehicles. There are strict guidelines to follow and these guidelines is what turns customers away.

These days customers are choosing the independent companies due to their competitive prices, exceptional customer service and one on one contact. The smaller companies are able to deal with vehicle problems quickly, they use non-original parts that do the same job as the original parts and they offer their customers the one on one customer services that people are looking for in today's market.

If you've ever wondered why motor traders have chosen to work independently, just going over the advantages speak for themselves.

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The Rise of Social Media in The Motor Traders World

Social media has become an important marketing tool in the motor traders world. Companies around the world are turning to social media to market their business, offer promotional discounts and keep their customers informed of new products and interesting information regarding the industry.

As with any marketing the aim is to get your name into your customers head. When a customer thinks of a car repair or buying a new vehicle, you want them to immediately remember your company name. Marketing is essential in today's climate to ensure brand awareness and improve your customer base.

Years ago you could rely on repeat and referral business and while this will still play an important role, if you want to grow and improve profitability you need to improve your customer base.

Facebook

Image via CrunchBase

Facebook has been a popular social media site for many years and there aren't many people who do not have a Facebook account. Facebook enables you to advertise your company offering basic information and contact details and then you can update your status to advise customers of new information, interesting trends or things happening in your industry.

The advantage with Facebook is that you can create events and invite people to attend, so you can create a discounted rate MOT for one week and invite people to take advantage of the offer.

Twitter

Image via CrunchBase

Twitter has quickly caught up with Facebook and you'll find that a majority of your customers will have both a Facebook and Twitter account. Again with twitter you can have your page with contact information and then you can update your status on new developments, promotional offers and interesting information in what is called “Tweets”.

LinkedIn

Image via CrunchBase

While LinkedIn falls under social media, this is a wonderful networking tool, giving people in the industry the ability to rub shoulders with other workshop and dealership owners, find out about new jobs that have come available and stay updated on trends and news that may be interesting to your business.

Every business needs a website these days, maybe even a blog, but social media is one of those things they all do because everyone else is doing it, without realising the impact it has on your business. Linking your website to your social media accounts and advertising your website on your social media accounts can definitely improve business and increase your customer base. Social media has become an essential online tool for all motor traders who want to succeed moving forward.

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Trading cars as a second job? Where to find the right insurance

Do you have a passion for cars? You have an eye for cars that are good
purchases, which can be sold on at a profit? If you are thinking of trading cars
in your spare time, then you need to find the right insurance that will cover you
in the event of an accident. It is likely that your best solution will be to consider a part time motor trade policy.

With technology offering us so many ways of searching for information, finding
insurance cover on the internet is the easiest and quickest solution, but is this
the correct choice for your second job?

When considering a policy, you need to take the following into account:

- Are you going to allow customers to drive your vehicles

- Are you going to work from home or are you going to rent a garage
- Are you going to be hiring any staff members to help you
- Are staff members also going to be driving the vehicles you have for sale

Once you have considered all these factors, you will be able to determine
your cover requirements.

Over and above internet searches, it is advisable to talk to other dealers in the
area and see who their policy is with. Also find out if they are happy with their
cover and have they had any problems with the company.

When covering your second business you need to ensure that you are dealing
with a reputable and reliable company, it is your profits you are going to be
using to pay for this cover and you need to be assured that they are going to
work with you when you need them the most.

Always get more than one quote, contact a couple of companies and see if
they can tailor the policy to meet your business needs. Ensure that the policy
they offer you includes roads risks and you can add multiple drivers when
you hire new staff, this way both you and staff can drive the vehicles you are
considering purchasing.

Ensure that along with the road risks they will include demonstration cover
into the policy, enabling customers to drive the vehicles you have for
sale. Spending your company profits on buying cars for sale only to have
them involved in an accident without the right cover can leave your business
in ruins.

Does the company protect your no claims bonus? Can you use your personal
no claims to reduce your business premiums? And lastly, do they offer
employee and public liability cover?

Finding the right insurance is not difficult; it’s knowing what you need for your
business and finding the company who is willing to tailor your policy to suit
those needs. Investigate thoroughly into which motor trade insurance policy is
likely to suit your business best.
 

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How Many Vehicles Will Fleet Insurance Cover?

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When you are in a business where you have a number of vehicles, fleet insurance may be the answer you are looking for to save money, cover all your vehicles in one policy making it easier to manage.

This type of cover is designed for all vehicles, so you don't have to have a number of cars or a number of vans, you can put all your vehicles into one policy from motor cycles to trucks. This is one of the many reasons this type of policy is so advantageous to so many businesses.

Is This Cover Right For Me

This type of policy is designed for all businesses that have a number of vehicles, some brokers cover from three or more vehicles while others do five or more vehicles, there is no maximum amount, you can have thirty or forty vehicles owned by your business all safe guarded by one handy policy.

The advantage is that there is only one policy. This means one premium and one phone number to call in the event of an accident, what's more there is only one renewal to worry about.

The biggest mistake companies make it shopping around every time they purchase a new vehicle, leaving a number of vehicles all on different policies. This is when the problems start. It becomes a nightmare for bookkeepers that need to try and take note of when premiums are due and when renewals are due, which can often leave you in a situation where you have one or more vehicles uninsured, not legal or safe when driving on the UK roads.

The best thing about this type of cover is that because you can place all your vehicles on one policy in the event of an accident there is only one phone number to call and one claims process to go through. This can save a lot of time and energy and doesn't leave you digging through paperwork trying to determine what car is covered by what company.

Add your own private vehicles to the policy, remember you can add anything from motor cycles to cars and vans to trucks, there is no limit to the number of vehicles you can add and it works out cheaper in the long run. If you were to have a separate policy for each vehicle you will end up paying a much higher amount in premiums than having all your vehicles under one easy to manage policy.

So to answer the question on how many vehicles you can cover by fleet insurance, the answer is that there is no limit, put all your vehicles into one easy to manage policy and enjoy the peace of mind that they are protected every time they pull out onto the road.

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I'm Looking For Jobs in the Motor Trade, What's The Market Like in the UK?

If you're looking for a motor trade job then the UK is probably one of the best places to be in right now. When you page through the number of positions available there is an abundance throughout the country.

Yes we did suffer with the recession, but the majority of jobs that were lost were in the factories, there still remains a demand for mechanics, managers and sales people.

Mechanical Workshops

The past two years has seen people uprooting their families and moving to where the work is and the same applies when looking for work as a mechanic in a mechanical workshop. The advantage now is that if a company is looking and you qualify, you don't have to worry because the recession is over, so companies that are still standing now will be standing in years to come, meaning you have job security.

In the workshop side of the industry you find both the larger dealerships and the smaller independent workshops are looking for the right staff members. You will need to keep an eye on the local paper and scout the internet to find the positions and bear in mind that there are a lot of people looking for this kind of work, so be sure your CV really puts your best foot forward to make an impression.

Car Sales

The car sales industry is stabilising nicely which means that companies are hiring again from secretaries and accounts managers to branch managers and sales people. This is the side of the industry that was really hard hit during the recent economic crisis, car sales plummeted which lead to job loss, but now that sales are increasing so are the positions coming available.

The majority of positions offered are at car dealerships, known brands from branch managers to sales managers and sales personnel are all positions currently being advertised on the internet.

UK Job Market

All in all the job market in the UK is definitely improving as more jobs are advertised on a daily basis. If you are looking for a position it's advisable to keep an eye on the internet and email your CV as and when they are added, also get in touch with workshops and dealerships in your area to see if they are hiring at the minute and speak to friends who are already in the industry, this will enable you to get your name on the list before they advertise.

We can expect to see even more motor trade jobs hitting the internet in the next few weeks with the holiday season and winter upon us, people are going to start repairing their vehicles, maintaining their vehicles again and buying new vehicles.

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