Going out of business

Screw

Lubricating & Stimulating
Joined
Oct 30, 2003
Messages
2,733
Location
Loganville, Ga.
Aircraft
Dominator 2 place/Cessnas & Pipers
Total Flight Time
300+
Screw-In

It is with a heavy heart to announce that my used car dealership was here today and will be gone tomarrow. $100 grand shot to hell hoping to recover as much of it as possible with the accounts still out there.

The bad thing is that this past month (June) has been the best month the dealership has had since we opened in December last year. We finally got our act together with advertising, operational cost ect., and just really got in our groove. Just to little too late.

I figure another $50k will do it to get us past the break even point, but the only way to come up with that much scratch is to tie up personal assets and place my family in serious jepordy.

To my surprise, banks don't like car dealers, especially new ones.

I guess I'll go back to Prison, Law enforcement, sell cars for someone else. Fortunately I'm not in a position to give up gyros, but it sure has slowed down my expected Little Wing project.

Anybody hiring full time gyro pilots?

Screw-Out
 
John,

I'm real sorry to hear that. I hope that everything works out and you find yourself in a better position a year from now. Your story is very typical of small business, about the time you get the formula figured out, capital is shot and its nearly impossible to make it. You are not alone my friend but I'm sure that doesn't make it any easier right now.

Good Luck
 
John call me, I can give you all the inside info needed to start a new business that can working by yourself, net you over 7-8 grand a month - much much more of you hire some helpers -

Won't cost you more than 10 grand to get started and all of that can be financed easily.

And a bonus is you WILL lose weight! :)
 
Sorry state of things

Sorry state of things

Sorry to hear that John,

Used cars are a dime a dozen, dealerships, well funded ones are used as a cover to laundr money from organized crime etc. The honest guys like you and me have to scrape by the skin of our teeth. There is no money in used cars anymore.....like there was years ago. It is easier for some poor slob to make a payment of a few hundred a month than to come up with cash on something that has already depreciated. Even though it will cost them more in the long run and be a slave to insurance premiums and car payments.....

Banks will not loan money to anyone loooking to buy a car older than 4 years. Even though book values go back 7. Insurance companies and actuaries are responsible for the low prices to offset any losses on claims. Thats whats driving the prices now.

Being I work in the service end of the industry people still need the new ones fixed but in poor rural areas like mine, its feast or famine. The bottom line is that there are too many car sales chasing too few owners.

Jonathan
 
As an ex car salesman I tell you . . .it is ugly!!!
The auction is the thermometer an right now it is way down!
Heron
 
Sorry to hear that John, :( Don't worry I won't charge you hangar rent on "Da Screwdriver". :)
 
John, sorry to hear it. I know you mention it to me at Scott's but I had no idea it was to be so soon. I know a guy with your personality and wit will have no trouble finding a job or starting something else. You are one of a kind to say the least!!!
 
John, you seem like a guy with knowledge in a number of areas, and an outgoing personality. Things will work out for you!

You may want to consider Ron's idea. He's obviously talking about buying and selling aircraft on a short turn-around, right Ron?!
 
The 10 grand is for a junky old truck with hidden panels to smuggle crystal meth over the border.
 
Ken, you can build a meth lab for 500 bucks. Why travel?

I didn't hear where, but there was a guy arrested a couple days ago after buying a suspicious quantity of cold pills, and took it out and started processing it at his meth lab, in the trunk of his car, in front of the store, with the cops watching!

Tell me again...why is it they call it dope?
 
Actually, I was kidding. San Diego County is actually the meth capitol of the world. The rural and mountainous east county provides a lot of spots for clandestine labs. The guy that founded Metabolife (headquarted here) had spent time for illegally making meth several years ago, before his foray into the big time business world.
 
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