By: Nabil Hassan

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What is Car Dealership business?

Car dealership means selling or trading of cars for profit. It is different from being a salesman or an employee of a particular company and working by commission. Anyone can become a car dealer by owning a local franchise to sell cars in your area. The business touts an average of close to $200,000 yearly in profits for selling less than five cars a week.

License requirements?

Among the requirements for getting a car dealership license is attendance in a dealer education program by BRTA in Bangladesh, passing their exam and their background investigation for possible convictions or crime related to vehicle dealership. Accurate disclosure in our application, therefore, is extremely important when applying for a license. We will also need Import License to import cars & also have to be a certified dealer by getting the permission from the car companies etc.

Is it a need or want?

A Dealership business is a want because we earn money through it to lead a luxurious life but in some sense it is also a need because through the money which we earn we use it to buy clothes, food, shelter & etc. which are needs.

Do we need to import? If yes why and how?

Yes, we have to import because as a car dealer we have to import cars from overseas countries as Bangladesh doesn’t have any industries to produce or make cars.

Firstly we need to visit many overseas countries like Japan, Germany, Korea, and USA as they have good production of high quality cars for their consumers. Then we have to talk to different car companies and take a certificate to be a “Certified Dealer”.

Secondly we need to choose the cars from the companies and order the ones we like and think if they suit the choices of the consumers. To import cars from other countries we first have to submit the money to any bank in Bangladesh, and from their we get a bank statement also called LC which is given by the Bangladesh Government. From there we send it back to that company, and through that they will send us our chosen by waterway.

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How you can utilize four factors of production?

• Labour Resources- Human skill and effort.• Enterprise Resources- New Ideas.

Business ownership! Partnership.

Work force- how can we utilize our work force & how will we pay?

We are going to utilize our work force by hiring full time workers and we are going to pay our workers monthly.

How can we Increase the employment & how it will benefit the country’s economy.

In our Showroom we have 7 to 10 workers. So as they are working in our showroom and they are getting employed as they get a monthly salary so the countries un-employment rate decreases and our economic growth get helped etc.

Primary? Secondary or Tertiary?Our business is a Tertiary business because the products we are supplying to other people is a type of service. Tertiary industry is an industry that provides a service for other people, which is exactly the thing we are providing for our consumers.  Marketing plan!We have an auto dealer Shop in Dhanmondi and we get the cars from some overseas countries. All our cars are Original and are in their best condition just for our customers. We are giving you and only you 5% percent discount in all our cars for a limited a period of time and three years free car insurance for our customers.

Yes we use social business concepts. We have our very own Facebook page, and on the web you can search up our very own website we made just for our consumers, where we update our information about the newly brought cars with the best price.

Social Business

www.certifiedautodealers.net  

Profit/ loss share:

In my experience; in this area of the country, $5,500 mark up on a used car would be considered a nice profit, more or less depending on circumstances. New cars are different, there are many things to consider....floor plan interest, interest rates, trades or lease returns, loyalty programs, company reasons, end-of model motivations, certain options, availability; all of these business will determine what the profit margin will be. On average, $2,200- $1,500 would be expected.

Value Creation- Product design, Branding &marketing

We do not have our very own brands or own product design. We just import from other companies and use their brands and their designs.

Companies are: • Mazda - Japan• Land Rover-England• Audi-German• Hyundai- South Korea• Mitsubishi- Japan• BMW- German• Mercedes Benz- German• Volkswagen- German• Toyota- Japan

Working HoursOur Working Hours is 11 hr.This is from: 9am To 8pm. Money Management- Loan? Personal finance?For our business we take support from our dad’s personal finance and it doesn’t it cover up, we take a loan from the bank, and we pay the money back with our monthly profit from our business.

THANK YOU!