I would say begin other parts of the process now. If you join Drama Free Licensing, I can help you through which parts of the process to do now and which to do later. You can learn more at www.autodealerbschool.com/DFL. I hope to work with you soon!

When someone works for your dealership, you add them to your auction access and any other auctions you attend. If you want more details, email me at [email protected]

Email me at [email protected]

Yes. Check out Drama Free Licensing at www.autodealerbschool.com/DFL. I look forward to working with you!

It does. Are you licensed yet? If not, we start there and take you to your first six figures in sales. You can schedule a strategy session with me to see how it will work for you. www.autodealerbschool.as.me

No matter the use, you have to follow all requirements to be approved for a license. It’s up to you if you use it to make money or not.

No matter the use, you have to follow all requirements to be approved for a license. It’s up to you if you use it to make money or not.

What kind of cars will you sell? Also, what state are you in? You can get an idea of startup costs at www.autodealerbschool.com/startup

I do not. I'm all about retail. Most people who get a wholesale license convert to a retail license because they can only sell cars to business and through the auction and they aren't making enough money doing that so they need to open up to selling to the public.

A wholesale license has different requirements. Are you in Florida? To find out what you need to wholesale, you go to the Florida a highway and Safety website. With a wholesale license, you can only sell to other dealers. You won’t be able to sell to any person including friends and family. If you change your mind on wholesale and want a retail license, let me know.

A warehouse is acceptable.

Usually around 30 days.

Once you get the license, you can use it how you like as long as you are compliant with the state guidelines. You still have to have all the requirements for a license. You will have monthly overhead so be sure what you save is more than what the license cost to start up and maintain. I talk a lot to people who want to build a dealership and sell lots of cars so my videos are specific to them.

I did not build my credit before starting. I built it up while I was in business. You need it most in the beginning for the Bond. If you get a good bond quote now and have money to start, your credit will not be an issue.

No. Get dealer management software like Frazer. You can go to https://www.autodealerbschool.com/frazer

Don’t know why I’m just now seeing this. My bad. I really don’t recommend you just flip cars. There’s no license for that and there’s not as much money in flipping cars as there is in opening a location and selling at least 10 cars a month. Join Drama Free Licensing to see your options. Go to www.autodealerbschool.com/DFL

If you want help with the process, check out Drama Free licensing at www.autodealerbchool.com/DFL

It’s not harder at all. I would say we face fewer challenges than men because we are more trusted by the public. As long as we have good boundaries with people and secure transactions, we are good.

Check out the licensing page at https://www.autodealerbschool.com/license

You should incorporate to protect your personal assets. That is the preferred way to do business.

Yes. That is currently true. Sign up for Drama Free Licensing to get answers to all of your questions at links.autodealerbschool.com

Your biggest costs are location and bond in Texas. Plan about $5,000 just to get your license in Texas.

You have to be able to legally sign contracts. But call your state licensing board to ask this question.

I have all the paperwork you need in Drama Free Licensing. You can check it out at www.autodealerbschool.com/DFL

2 weeks. It’s taking a little longer these days with staffing issues.

The dealership office can not share space with a business unless it has it's own door and you don't have to passthrough another business to enter.

Check out the programs and choose the best one for you at www.autodealerbschool.com/programs.

I'm glad they are helpful. Price range for a bond is $250 to $7k. You need to get a quote to get more specific. It's a big range. For 3rd party financing, you just have to sign up and as long as you have display space and vehicles, you most likely will be able to work with a 3rd party finance company. If you are looking for help to get licensed, check out Drama Free Licensing www.autodealerbschool.com/DFL

Depends on your state but in most states yes. Some are allowing mobile numbers. Call your state board to ask.

You can schedule online at www.autodealerbschool.as.me. I look forward to talking to you soon!

There is a newer program that is less than that now.

It’s legal and you need a finance license for it.

Dealer Center…and they offer a 90 day free trial to Auto Dealer Business School referrals. You can sign up at www.autodealerbschool.com/dc

Feel free to schedule a strategy session so we can plan out how to spend that money so it grows. My calendar is online at www.autodealerbschool.com/strategy. Talk to you soon.

The work around if you aren’t approved or don’t think you will be approved because of the guidelines is to partner with someone who can be approved and they apply for the license.

Feel free to schedule a strategy session so we can plan out how to spend that money so it grows. My calendar is online at www.autodealerbschool.com/strategy. Talk to you soon.

Yes! You can check it out at www.autodealerbschool.com/90days

You only need another policy if your lease asks for a coverage that would increase your garage liability policy unreasonably. Otherwise your policy covers your rented location as well. Check your limits to comply.

Feel free to schedule a strategy session so we can plan out how to spend that money so it grows. My calendar is online at www.autodealerbschool.com/strategy Talk to you soon.

That program completes the application process for you.

Check out the Drama Free Licensing program. We have a live licensing session together to help you through the process. Also you get the GA licensing handbook and video lessons. Look at the info page and let me know if you have any questions www.autodealerbschool.com/DFL

Add to the price or tell them what the taxes etc are

You make your money when you buy so that’s should be your strongest strategy.

You have to apply for financing. Start with where you bank and talk to a banker.

You can signup for QuickBooks at www.autodealerbschool.com/quickbooks to get a discount.

You sold it to a dealer. Did you give the dealer the title and bill of sale? These are the things a mentor can show you.

I like surety bonds

I retail cars.

I don't currently provide that service but I am putting together a team for my auto dealers so I'll announce that here on the channel.

Utilities are included in the rent for most small office spaces in office buildings.

It doesn’t satisfy the zoning requirement. The city zones the land where the office is. You need your zoning certificate. Take it to the county zoning office and get it signed.

Yes. State tax return for sales tax.

Different lenders have different requirements for the type of dealer they work with. One very popular lender for small dealers is Westlake. I am putting together a list of lenders who work with small dealers (deposits under $200k). To get notified when the list is ready, sign up at www.autodealerbschool.com/DFL.

You or whoever is completing the application...and have it notarized.

Most likely yes. It needs to be zoned for auto dealer though. It depends on your state if they will require more than that.

Only one person on the bond. Multiple people can be on the Garage Liability policy.

You can go to the website of you local independent auto dealer association. They usually have a resource page that lists finance companies.

The easiest way to wholesale is to buy low from an auction and sell high at another auction. You need auction access and a strategy to find gold mine deals.

I have to first say I’m not a tax consultant and this is not tax advice. I am also bringing a tax consultant who specializes in used car dealers to the auto dealer business school to have a workshop or something for dealers. From my experience, I would say check your deductions. Are you using a dealer management software? Are you deducting mileage to and from the auctions? Are you tracking parts and supplies and repairs? Are you paying a mechanic and giving a 1099 at the end of the year? These are just to name a few issues I teach dealers to pay attention to for taxes.

After class, bond quote and location. Everything needs your location so get that if you haven’t already.

You don’t know what you don’t know. That’s why I started doing what I’m doing. Sole proprietors now qualify for the PPP loan. The underwriter will tell you what you need to be approved.

Hopefully by now, you have had your inspection. If you need more info, you can check out Drama Free Licensing at www.autodealerbschool.com/DFL

Hey! Don’t know how I missed this one. QuickBooks does have a lot of versions..lol. I use the small business one.

We are a virtual school online supporting dealers all over the US.