The auto dealership business is exceptionally lucrative in Australia. However, you'll need to invest more time, effort and money to succeed. Besides, it would help if you considered learning how other car dealers work before immersing yourself deep in this venture.
If you are thinking of becoming an Bosch authorised dealer, consider the following steps to achieve that:
Most auto dealership companies run independently, and the process of ownership may be somehow intricate. However, as in most industries, you'll need to follow specific criteria to begin. To begin with, you'll require certification. Every state or territory provides certification classes necessary before undertaking an exam. After passing your certification exam, you must proceed to the subsequent step.
Acquire a Physical Location
It is crucial to find a location for your vehicles, such as a parking lot or showroom. Besides, come up with a proper business name and decide whether you'll be dealing new or used cars. If you choose to deal with new cars, then you may have to consider a franchise with your Bosch manufacturer. The company has various requirements you must meet, and it would be prudent if you checked their dealership terms.
Fill the Necessary Paperwork
After securing a suitable location and deciding on either a dealership or franchise, work with your local authorities for zoning and building permits. Once permits are in order, you'll require to have a surety bond or extra collateral if you have a poor credit score. A surety bond typically implies that as a dealer, you must to honour all the related store fees. Besides, you need a business licence before proceeding any further.
You'll require financing mostly from bank loans to develop your auto dealership facility. Also, you may need to furnish it with office equipment and furniture such as tables, computers and cabinets, etc. Most importantly, you must equip it with the vehicles you will be selling.
The last step is passing the motor vehicle inspection by the States and Territories Department. After this, you receive dealer license plates alongside other vital legal forms. These are simple administrative hoops, but be sure there is more to it than you think. You'll need to acquaint yourself with Bosch authorised dealership structure, managing your venture and efficient techniques of selling the company's cars.
Now that you've set up everything you should factor in the service aspect – will your dealership offer repairs, servicing and auto parts? If so, you'll need to ensure you honour the manufacturer's warranty. Finally, you'll need dedication, extra effort and exceptional customer service to succeed with your car dealership. To maximise profits, you'll need to maintain a good reputation with your client base.