Jump to content
House Price Crash Forum

Business Collapsing


Recommended Posts

0
HOLA441
  • Replies 87
  • Created
  • Last Reply

Top Posters In This Topic

1
HOLA442
2
HOLA443

The problem I have re:advertising is that 50% of sales come from within 3 miles and 90% within 10.I have been in business for 34 years and have built a good reputation in a difficult trade by giving excellent after sales service.Consequently a very large proportion of my business comes from word of mouth recommendation and repeat business.The possible areas for advertising are few and relatively expensive compared to the local free paper.

Wider coverage works for unusual cars but mine are typically four grand get you to work diesels.

what about online advertising, do you do much and on various different sites? , the major ones like autotrader go without saying but there are some free ones that are popular and generate lots of hits.

Link to comment
Share on other sites

3
HOLA444
4
HOLA445

Alteratively, look at the UK in the 1950s and 60s. High levels of social mobility, free* healthcare, job security, full employment, strong economic growth..

Democracy and transparency are critical to any system working well.

Yep, right before everything started to go wrong.

Link to comment
Share on other sites

5
HOLA446

525tds?

The older 5 series especially pre E60 are the best bmws ever built. In fact I would recommend to keep any car of that erra up to say 03-04 when they started putting in DPFs and such crap. The cars built now are much poorer in build quality and are too complicated. Anyone who thinks a car built now will last 15 years and do 200k miles with minimal cost is dreaming. My 02 530d goes like stink, does 45 to the gallon combined and has cost me almost nothing in the 6 years of ownership. In fact i think those old bmw diesels are getting dearer, cos punters realise how good they are compared to the modern stuff.

Edited by DotBomb
Link to comment
Share on other sites

6
HOLA447

The older 5 series especially pre E60 are the best bmws ever built. In fact I would recommend to keep any car of that erra up to say 03-04 when they started putting in DPFs and such crap. The cars built now are much poorer in build quality and are too complicated. Anyone who thinks a car built now will last 15 years and do 200k miles with minimal cost is dreaming. My 02 530d goes like stink, does 45 to the gallon combined and has cost me almost nothing in the 6 years of ownership. In fact i think those old bmw diesels are getting dearer, cos punters realise how good they are compared to the modern stuff.

yeah, e39 generally well regarded, although a friend's 540 had it's fair share of niggles. Blisteringly quick car though, and the e39 is a good looking motor. Only thing with e39s is the wipers are set for LHD.

Likewise the 530d/535d if the modified inlet actuators were not fitted, the engine could turn itself into scrap if they broke and were sucked in. However, they seemed to sort the problem out over time. Worth asking if the mod was done prior to buying though.

Link to comment
Share on other sites

7
HOLA448

I'm sure you'll punch through the lean times and come out stronger for it. Good luck.

I am ashamed to admit that I bought a new car yesterday (Renault Clio 'i-Music' :rolleyes:) with a low initial payment and low rental... Mrs Posh asked the salesman how busy they were, he just shook his head and said business had been 'awful' and not best pleased that I declined GAP insurance/scratchguard. I guess that's where the lions share of the commission is made.

So given that you are going to lose a minimum of 30% of purchase price in the first year - enlighten me as to why any sane person would buy a new car.

Link to comment
Share on other sites

8
HOLA449
9
HOLA4410
10
HOLA4411
11
HOLA4412
12
HOLA4413

Insurance for you is 5k on a polo? Your kidding right? Im sure that was the highest quote, but there must have been lower. I get quotes of 2k but disregard them. Usually getting it for around 300 in the end. its just crazing s/w doing something stupid, or the insurer doesnt want any more of that profile in their mix.

Link to comment
Share on other sites

13
HOLA4414

Insurance for you is 5k on a polo? Your kidding right? Im sure that was the highest quote, but there must have been lower. I get quotes of 2k but disregard them. Usually getting it for around 300 in the end. its just crazing s/w doing something stupid, or the insurer doesnt want any more of that profile in their mix.

No mate, all my quotes are ridiculous.

Combination of age, sex and area.

Link to comment
Share on other sites

14
HOLA4415
15
HOLA4416

quote name='Formerly Unemployed Youth' timestamp='1315238829' post='3107898']

No mate, all my quotes are ridiculous.

Combination of age, sex and area.

I think they cant do it on sex any more based on some eu ruling. I remember Sheilas wheels saying they do take on men, but went on to say men dont go after their fluffy image. That made me think they are trying to make it fluffy to keep men away, but have to offer the same quote. I did try sheilas wheels, but then dont cover N.Ireland. Must be age and area. Anyway maye worth trying sheilas wheels.

Link to comment
Share on other sites

16
HOLA4417

i would recommend actually increasing advertising, to increase sales. obvious it may sound, but the advertising is vital, the key is it has to be targetted and measurable.

increased advertising is really the only way you can increase sales above and beyond the natural level of sales you will normally get.

to a certain extent all businesses are to do with percentages. x number of people see your business, y number actually enquire/browse, z number actually buy.

the only way for you to break that steady stream of 5 sales a month is to increase exposure because x filters down to y which filters down to z.

if youre not sure if advertising is working or not, do split tests. run some advertising and count how many people come in and how many more conversions you get for a month or so to see if y is increasing.

no effect? scrap that advertising, and target a different market/form of advertising, until you get the right combination.

the fact you cut advertsing and it had no impact tells you your current advertising wasnt working.

By the time you've done all that testing out you may well have pissed a lot of your profits away on ads, just to prove what your gut was telling you in the first place.

Link to comment
Share on other sites

17
HOLA4418
18
HOLA4419

So given that you are going to lose a minimum of 30% of purchase price in the first year - enlighten me as to why any sane person would buy a new car.

Formerly Unemployed Youth is getting warm re. going bankrupt and treating 'yourself'. The current system is a fraud that rewards feckless souls while robbing the cautious of their graft. If you can't beat them join them/in for a penny in for a pound etc etc

Of course, I intend to honour my commitments however if push comes to shove i've lined up a £10k loan to go with my two credit cards with a respective £6k and £4.5k limit (balance collectively outstanding ATM -£400).

edit: if I crash and burn it'll cost £30,000... :P

Edited by tomposh101
Link to comment
Share on other sites

19
HOLA4420

So given that you are going to lose a minimum of 30% of purchase price in the first year - enlighten me as to why any sane person would buy a new car.

Because they want to keep it for longer than one year.

Just because the trade in value of a one year old car is minus 30% doesn't mean that you can buy a one year old car at minus 30% - You can't!

tim

Link to comment
Share on other sites

20
HOLA4421
21
HOLA4422

Because they want to keep it for longer than one year.

Just because the trade in value of a one year old car is minus 30% doesn't mean that you can buy a one year old car at minus 30% - You can't!

tim

+1

I have just bought a new car , I said I would not at this present time but I did. It is the 6th new car I have bought in the last 23 years . Prior to new cars when I was young I bought old bangers that constantley broke down , caused no end of stress and made driving hell as I was always worried about the next time they would need cash spent on them.

The car I traded in I had had for 7 years without any trouble or any major services needed and thought that big money might have to be spent on it some time soon. The new car I got is better on petrol than the traded in one , cheaper insurance , cheaper tax and has no need for a service this year or MOT.

I might have lost x amount driving the new one of the forecourt but that is only if I sell it ( which I won't ) the old car was worth £1,400 any major works needed on that car would cost big money and would not add to its value , so that is a loss as well.

Driving cars is a cost not an investment and when I looked at and weighed up the situation i.e. keep the 7 year old one or buy new all things considered I went for new . There is also the luxury of driving a new model with all the latest and best gadgets ( like anything in life that costs ) and I was willing to pay the price.

Link to comment
Share on other sites

22
HOLA4423

Formerly Unemployed Youth is getting warm re. going bankrupt and treating 'yourself'. The current system is a fraud that rewards feckless souls while robbing the cautious of their graft. If you can't beat them join them/in for a penny in for a pound etc etc

I've some sympathy with this view. If they keep houses out of reach despite living a prudent and responsible lifestyle, why not just blow your savings? You can't afford a house with them, blow the lot, have some fun, and you're back to not being able to afford a house. Nothing to lose. The government are busy coming up with ways to take your money to give to the feckless, become feckless yourself, save them the trouble.. Have some fun. Fk it, it's all going to hell, join in.

Link to comment
Share on other sites

23
HOLA4424
24
HOLA4425

Insurance for you is 5k on a polo? Your kidding right? Im sure that was the highest quote, but there must have been lower. I get quotes of 2k but disregard them. Usually getting it for around 300 in the end. its just crazing s/w doing something stupid, or the insurer doesnt want any more of that profile in their mix.

Too right. Last year's insurance on the Grannymobile (1999 Nissan Micra 1L Auto) £600 for self & 23 year old Learner daughter as named driver; 11 years NCB, cheap rural area.

Last week renewal notice came through from AA: £5,740 :o

I damn nearly didn't notice, too: misread it as £574 :ph34r: Rang up; was told if it had been for me alone it would have been about £120!

Gocompare produced figures around the £500 mark. Go figure.

Edited by cartimandua51
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information