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.

Motor Trade Liability Insurance is Cheaper than You Think

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There is no reason why your motor trade liability insurance should cost you a fortune each year, this level of cover has become competitively priced making it easier for you to ensure your business has the right level of cover at all times.

That being said there are some steps you can take to ensure you don’t overpay for your policy and that your business still receives the best level of cover available.

As a business owner you should be reviewing your policy on a regular basis, looking for ways to reduce your premium while still receiving the right cover you need. One of the ways to do this is to search online.

The internet has opened up many doors for businesses looking for protective cover and the benefit is that you find the quotes obtained here are more affordable than if you were to approach a broker directly.

Obtaining Quotes

Before you start obtaining quotes it is important to remember that cheaper isn’t always better. Keeping that in mind you can go online and start your search. You’ll be amazed how many brokers are online ready to give you a quote there and then.

It is advisable to get a minimum of three quotes, this gives you a choice and enables you to review each one and compare them against each other to find the right solution for your business.

What to Watch Out For

Before you put pen to paper on the most affordable quote that comes into your email inbox, it’s important to know what to watch out for. Bear in mind that a company offering you a quote online doesn’t know your business or your immediate requirements. This means a majority of the time your quote only has the bare minimum cover and in some cases some essential cover is omitted completely.

One of the items you will find where you are offered basic cover is your public liability cover and as you know this is essential for any business. A public liability claim against you can amount to thousands and leave your business in serious financial trouble, so it’s important to make the necessary amendments to ensure that this cover is adequate for what you need.

Amending, Reviewing and Signing

Once you have made any necessary tweaks to the quotes and discussed them with the broker, it’s time to review again. You can review each quote which now states the exact level of cover you need.

From here you can make your decision based on price, cover and the reputability of the broker. Once you have read the client reviews and you are happy with your choice you can sign on the dotted line and enjoy affordable motor trade liability cover.

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.

Related articles

• What Are The Different Types of Motor Trades
• What Do I Need To Study To Get a Job In The Motor Trade?
• Keep Yourself Up to Date With the Latest Motor Trade News
• What Can I Expect to Earn in a Motor Trade Job?
• Firebaugh loses its only new-car dealership

Where to Find the Best Deals for Motor Traders

When running a business you are always on the lookout for the best deals, whether it's a cheaper insurance quote or affordable parts, where you can save money and remain competitive. Good deals are imperative for motor traders who want to offer the best in service and be competitive when it comes to pricing.

Speaking to your suppliers can be one way to achieve the best possible deals. Chances are that you currently buy from a choice of suppliers, this means that you are not getting a good discount. You may be offered a discount by these suppliers, but if you negotiate with them that you will only buy your parts from them, you are looking at a sizeable discount, which can make a huge impact on the amount you save and how competitive you can be for your clients.

Finding the best deals is easier than you may think, speak to your fellow businesses in your industry around the area, find out who they use for their insurance, their utilities and even their parts, you may find that phoning around these companies or contacting them online can offer you a great deal which will help you business move forward.

You can also take the time to look online for items such as utilities and insurance, these you can often find cheaper online deals which can help you reduce your overall budget. Then there is your bank, you may have been with your financial institution since opening, but are they offering you the best deal? Are you paying high rates when depositing cash and does your bank have your business interests at heart?

Looking at all aspects of your business, you can take down notes of what you are paying on a monthly basis, what have you included in your budget? Do you need to reduce your insurance? Are you paying a very high energy bill? Does your competitors get their parts cheaper than you do? What about advertising, is there a way to reduce this cost?

Once you have everything into account you can start hunting for the best deals, the advantage is that a majority of this can be done online after hours in the comfort of your own home, you can request quotes and compare them to find the best possible deal for your business.

Take the time during the day to meet with suppliers, ask them what discount they will offer and what is their best deal to you if you were only to use them, guaranteeing them all of your business. Motor traders have a choice of options to find the best deals, speaking to fellow business owners, the internet and your suppliers will all steer you in the right direction.