This is indeed a lucrative business. But you need to have skills in car repair. I think other than buying and selling broken down cars and get them repaired for resale, there are businesses selling second hand cars. Those cars just need some minor fix and polishing. You don't need to spend a lot on repairing the cars but can sell them at a good price.
The business of buying broken down cars to resell.
- Thread starter Niyi Briggs
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- Thread starter
- #22
First thing that you need in this business is a trusted mechanic who is very sound. If you can find that, then you are good to go with the business.
Though I am not into selling of car but I can say it's a need business to buy cars that are down, repair them and resell. It is important to learn the process well before going into it
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- #28
A car might have a very minor fault and the owner can't repair it for one reason or the other. This dealers would price and buy the car at a cheap rate and fix the issue with small money and sell it in millions. It needs skills and technique.
Ngbuka Obosi is one part of a state in Nigeria where this kind of business is done very well because they take down most cars that are no longer functional and dismantle it and sell it one by one and make more money from it.
That's true, there are people who actually do that. Sometimes they sell some parts of it like the engine or the body of the car. But they you usually make a lot of profit.
This kind of business is very lucrative in Nigeria. It is a business that has already markets for its sale. However, it is a capital intensive businesses. It requires lots of money to start. You can buy your fairly used or accident vehicles locally or internationally.
This is different from the subject discussed above. This kind of business done by Ngbuka is known locally in Lagos as "Owode" business. It is a scrap business where damaged vehicles are dismantled and their parts are sold steel companies.
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- #34
We are not talking about selling parts of vehicles as scraps. I personally don't like that one. We are talking about buying spoilt cars to repair and sell.
You can definitely buy broken down cars and resell them to make good amount of money.
people who sell vehicles are scraps also make some good amount of money from it. But if you are buying spoilt cars to repair and sell it will be more beneficial but you will spend a lot of money.
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- #37
That's where they say that we use money to find more money. It is a capital intensive business and you need money to make the business work. But it is highly lucrative.
Anyone who is interested in maximizing profit from any kind of business must be able to invesy some capital. Of course such businesses requires a lot of money.
Thanks a million times for dropping this informative content, many people are not aware of how highly lucrative this business is, once you get a good smart phone and learn some marketing strategy, you're good to go, you can start with not too expensive cars, while you save up more for the business
Everybody knows about the lucrativeness of the business. The only odds here is how to start. The fact that it is a capital intensive business is what is driven some people away. They believed that you must have huge amounts of money before you could start. Little did they knew that, you could start the business without your own money.
