Talking to and working with hundreds of Rebuilders across the country who work on a wide variety of Cars, Trucks, SUV’s, and Vans provides great perspective on not only the challenges we face but also what makes many successful. For some, success comes from specializing in a certain Make like Honda or Chevrolet. For others it’s knowing what your strengths are (Body Work, for example) and outsourcing your weaknesses (Paint, for example).
However, successful Rebuilders with a sustainable, profitable business have 1 thing in common. Among all the varying tools and pieces of equipment, the commonality that we find among these Rebuilders is… Cash/Capital Management.
We may be oversimplifying this, but cash/capital management may come down to 2 things:
- Flooring Line
- Exit Strategy
A Flooring Line allows you to free up your valuable cash so that it works for you. Finish projects faster, manage more projects at once, and increase your output. To learn more about Flooring Plans, you can visit this blog post from AFC. If you’d like to apply for a Flooring Line, you can visit this link (admittedly, we work with AFC but we don’t receive any compensation for these links.
To recognize your profit, you gotta move your vehicles after they’ve been rebuilt. Holding onto your vehicles too long is a common mistake and can be a financial disaster. Consider wholesaling your vehicles immediately & increasing your turn rate. If this sounds interesting or you’d like to talk more about it, let’s connect. Reply to this email, visit our site, or get a wholesale quote on your current project here.
Happy Rebuilding!