From my last installment, you know that you’re making real progress if you’ve received a term sheet or “Letter of Intent” from a prospective buyer for your yard. It is now time to test your negotiating chops. You have a buyer who could potentially be very sincere now, and rejecting any of their deal points … Read more
The first article in this series listed more than 25 tactics to increase your business success, all of them based on my experience. I started with nothing and didn’t get to college, so I know you can achieve maximum success, regardless of your level of formal education. Email me to get the first article (or … Read more
As I travel from convention to convention, I’ve noticed that some recyclers are making money and some are not. For a self-assessment, which are you? The recyclers making money are doing some things others may not. “Money-making” recyclers keep a closer eye on expenses backed up by good, record keeping. Better yet, they’re street smart. … Read more
Two hurricanes have hit in the United States in short order. The destruction in TX is devastating and the number of people who did not have flood insurance or low policy limits is going to be a staggering number. The number of total loss vehicles in TX alone is supposed to be close to 1 … Read more
I know that I work at Car-Part.com but I don’t usually write about Car-Part. Usually, I write about things happening to me on the road and during my visits to recyclers. But, I do think it’s about time to address some questions and misconceptions I have been hearing from recyclers. Some yards think that Car-Part … Read more
Parts are sold in one of three categories: As a part sale to replace a damaged or non-functioning part, Sold to a core buyer to be refurbished or rebuilt, or Sold by weight. Bullet number one is what we hope for and buy the vehicle for. We will place into inventory somewhere between 40 and … Read more