We are considering opening a manufactured home sales business. But we really have no idea what is involved. We live in an area where mobile homes exist in abundance.
Can anyone tell me what is involved in starting up a sales center? Must you have a lot of money to invest and buy in bulk to get new homes, or can you start small?
Can you work with a large number of manufacturers, or must you choose between them?
Please excuse my complete lack of knowledge on the subject.
Thank you
becoming a retailer
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rmurray
Re: becoming a retailer
A manufactured home retail store is a major business...
There is much to do in preporation.....You should check with the state manufactured home association in your state..they will be up to speed with the state laws concerning a dealership...The process is different in every state..some make it VERY hard to get a licence...some it is not much more than paying a fee..
Just like any new business...you need to do a market study in your area...then develop a business plan...these will be required by the lenders who loan money for the inventory (commonly call floorplan loans)...To qualify...you will have to have reasonable assets...and good credit..
Manufacturers all have different policies about how they deal with dealers..Some offer exclusive areas...some will sell anyone with the money...some will check your background and require lots of experience..others will not...
One of the best ways to investigate a business opportunity that is new to you..is to get a job in the industry in your area...while taking care of the other details..This will give you an idea of what is happening in your area...you will learn some good ideas about how to run the business...And you will even see ways you could improve on the existing businesses in your area...The way the market is now...many of your local dealership might be willing to sell out at a good price right now...
Just like any business....DO YOUR HOMEWORK..
There is much to do in preporation.....You should check with the state manufactured home association in your state..they will be up to speed with the state laws concerning a dealership...The process is different in every state..some make it VERY hard to get a licence...some it is not much more than paying a fee..
Just like any new business...you need to do a market study in your area...then develop a business plan...these will be required by the lenders who loan money for the inventory (commonly call floorplan loans)...To qualify...you will have to have reasonable assets...and good credit..
Manufacturers all have different policies about how they deal with dealers..Some offer exclusive areas...some will sell anyone with the money...some will check your background and require lots of experience..others will not...
One of the best ways to investigate a business opportunity that is new to you..is to get a job in the industry in your area...while taking care of the other details..This will give you an idea of what is happening in your area...you will learn some good ideas about how to run the business...And you will even see ways you could improve on the existing businesses in your area...The way the market is now...many of your local dealership might be willing to sell out at a good price right now...
Just like any business....DO YOUR HOMEWORK..
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Gary Haller
Re: becoming a retailer
I became a Retailer in Michigan in 1996 .
After working at two sales centers all the way up the ladder as a Sales Manager
I came to the conclusion it wasnt anything that thet dealer could do for me that i could not do for myself . RE: advertise; meet and greet : take credit application
now comes the tricky part. Having a sales license to be able to send your credit application to your friendly neighborhood lender for approval .
It helps if you have done your homework as a salesman and got to know these individuals on a personal level , because thats where the cash flow comes from.
In Michigan in 1996 if you have good credit and no prior felonies and $150.00 its a gimme oh yeah and be bondable. Your current insurance agent may be able to help.
I was a salesman still am and i wanted 100% of the gross profit. Not 20%
and times were going well So good luck and good selling!!
If you have a question ask
Gary Haller
President/Owner
Northfield Homes Inc.
734 741 0892
After working at two sales centers all the way up the ladder as a Sales Manager
I came to the conclusion it wasnt anything that thet dealer could do for me that i could not do for myself . RE: advertise; meet and greet : take credit application
now comes the tricky part. Having a sales license to be able to send your credit application to your friendly neighborhood lender for approval .
It helps if you have done your homework as a salesman and got to know these individuals on a personal level , because thats where the cash flow comes from.
In Michigan in 1996 if you have good credit and no prior felonies and $150.00 its a gimme oh yeah and be bondable. Your current insurance agent may be able to help.
I was a salesman still am and i wanted 100% of the gross profit. Not 20%
and times were going well So good luck and good selling!!
If you have a question ask
Gary Haller
President/Owner
Northfield Homes Inc.
734 741 0892
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