Business Idea

>>2670206

what the fuck does this have to do with coins

go talk to your dad about it faggot

>>2670427
this is the business board

>>2670206
Start by checking out shipping costs and most importantly taxes that you need to pay for importing cars (chicken tax for example).

>>2670206
The biggest issue you'd have is accessing the amount of credit that you need, not to mention gaining a work force with enough experienced mechanics to do the changes necessary. With no business experience, it my be especially difficult for you to do so. You'll also have to deal with maintenance and reliability issues. A lot of dealerships now offer discounted maintenance for their vehicles.

I import vehicles to Canada. We can do 15 year old cars while us it is 25 if i remember correctly.

It's lucrative. But it's also got the ability to fuck me over. I buy cars sight unseen. So never know for sure what you're getting.

>>2670474
Dealerships get low rates on flooring. Flooring is the term cost for cheap financing.
I had the same idea too.

Thank you guys

>>2670465
The US laws is that vehicles under the age of 25 cannot enter. I do believe that the chicken tax applies to small pickup trucks. I'm not sure if the chicken tax applies to small pickups older than 25 years

>>2670474
I know that the the SBA 7(a) Loan Guaranty Program can give up to 2million dollars for a business. But starting this type of company may require the maximum loan. So credit will be hard especially for a newbie

>>2670508
The ban in the us does suck

Considering the massive credit needed to import/export, I think starting with smaller loan under $500k on just outfitting vehicles to build credit. After a few years of saving, I could have the funds or be more qualified for higher loans to import vehicles directly. (i.e LandCruisers, unimogs, ect)

>>2670577
>The US laws is that vehicles under the age of 25 cannot enter. I do believe that the chicken tax applies to small pickup trucks. I'm not sure if the chicken tax applies to small pickups older than 25 years

chicken tax was just an example, thought be sure to check it out.
My friend imports cars from Japan to my country (Polnad) and taxes he pays are usually around 2 times higher than price he pays for car in Japan.

Also general adivce is to make soild bussness plan. Check costs, expected profits, etc. If you have some spare money you can try to import one car just to figure out how every thing works or to check for things that you didn't think of.

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>>2670206
Hi there. Get yourself a business plan. Join investor networks. Look for angel investors and FFF aka Friends Family and Fools investors. Avoid Venture Capitalists because those fucks are short term easy gain low risk faggots and they will fuck your business to not get fucked themselves. Also they will ask for a lot of equity in exchange of investment. So dont go for it. Also be sure to start up with 2 max 3 ppl. Easier to handle equity at later stages. Look for investors that like cars themselves or have experience in the market. Getting investors is like a marriage - you better think twice whom you marry. But first look into business plan. You can do one by following Porter's approach. And of course... never give up... delay... destroy and redo but dont give up. If investors are bitches it means you need to look elsewhere.

>>2670662
I do have relatives in the Middle East who own a few car dealerships that I could theoretically buy Old LandCruisers. Not sure on how to ship vehicles from there. Not sure if this can help?

>>2670704
A lot of great tips, thanks.

>>2670785
>I do have relatives in the Middle East who own a few car dealerships that I could theoretically buy Old LandCruisers. Not sure on how to ship vehicles from there. Not sure if this can help?

Of course it helps, potential source of cars is great thing. Also, they're your relatives, so there's lesser chanche they'll fuck you over. Contac them, meybe they'll have an inde how to ship their cars to you. Start searching web for options, I thiunk the cheapest way would be to put cars into containers and ship them via ship.

Also to add to what >>2670704 said, search for mentors, or other people who succeeded in similar buissnesses. You can also look for books of successful bussnessmans in general to increase your chance of success. (Carnegie, Hill for example)

>>2670206
The real money is in excellent condition, unmolested, stock imports. I'm in Canada so our import laws are a lot more relaxed than yours, but I've imported and sold 4 vehicles so far this year. 2 FJ70 diesel Land Cruisers, 1 Land Rover Defender, and one R33 GTR Skyline. I'm 25 years old btw.

Had buyers lined up for all of them before they even came off the boat. It's a damn good side-income, but you need some solid capital to get started. I treat this as a hobby because I'm a car nut, but it pays my mortgage, power bill, car payments, internet, cell phone, whatever. Everything I earn from my full time job (I'm a Steamfitter in the Alberta oil sands) just gets banked.

Next goal is to buy/build some rental properties and start importing more cars. I'm planning to retire by 40, earlier if I feel comfortable to do so, and live off the rental income, car import income and my work pension.

Thank you again guys.

>>2671045
I've done some digging and found this list for the US. The Nissan R33 is non-conforming, but it is eligible for importing here. Also, how much capital am I looking at starting with? I thought of oufiting vehicles first to build capital before importing (>>2670626)


https://www.nhtsa.gov/sites/nhtsa.dot.gov/files/documents/elig120115.pdf

>>2670433

GO ASK YOUR DADDY FAGGOT THIS IS A COINBOARD

>>2671106
Do you have a job now? What I'd do is save up enough to import a vehicle that you can sell easily.

For example, if you buy something from a Japanese auction, you'll have to pay auction fees, pay someone to bid on your behalf, logistics of getting it back to this side of the Pacific, port fees, registration, and taxes. It sounds like a lot, but it really isn't that bad. There are firms that specialize in this sort of thing.

My first import was an R33 Skyline GTS-T, the rwd turbo model. Total cost to having it in my name and driving it off the dock was around $5,200 CAD. I sold it for $9,500 that same week.

Don't buy anything too obscure that you won't be able to sell easily. Honestly, I'd recommend the FJ70 Land Cruisers. Bone stock, unmodified. Especially if it's a 2 Door, turbo diesel, manual transmission model. If you ask around to the local 4X4 or Land Cruiser clubs you can have that thing sold before it even lands at the dock.

>>2671106
also you really don't want to dive in over your head. 500k is an insane amount of debt to take on if you're starting out. I would be scared shitless to take on half of that myself honestly. I like to work with as little debt as possible. I do mine 1 at a time. I've never invested more than 18,000 at 1 time in this sort of thing. If it's a flop and I can't move it quickly, which hasn't happened yet thank fuck (but it's possible), I'm not stuck owing someone else money. It's my own money on the line.

>>2671186
Currently getting a job. Thanks for the tips. I'm going to start one vehicle, a FJ70 or 40 to see how it goes.

>>2670206
I have no idea but here's a bump for something that isn't crypto.