Looking for a business with high paying potential? Selling cars is one way you can earn a big income, and you don’t even need qualifications. With many people keeping their day job and treating it as a hobby or additional income source.
How much can you earn flipping cars?
The vast majority of full time car flippers are averaging a net profit of £1,000 per car. With £1,000 riding on each transaction, the real question is: how many cars can a car flipper sell each year? On average you should be able to sell 52 cars a year. If the average car flipper earns £1000 per sale, they would gross £52,000 annually. However, most car flippers have a few years of experience flipping cars. Newer flippers will most likely sell fewer cars, and have lower incomes.
According to TotalJobs, the average car salesman earns £32,500 per year, but the range in income is massive. With some earning as little as £19,000, and the best making £47,500. It is important to note that almost all work more than a 40 hours per week. Car flippers earnings will vary in a similar way. With newer flippers usually selling fewer cars that flippers with years of experience.
What does it take to be successful as a car flipper?
The only tool you will need is a smartphone. You don’t need a laptop or fancy camera. I run the whole business from my phone. I write all the ads take the photos and manage all the enquires from it.
In addition to this you will need car insurance in most cases. But very little else to get started apart from a little car knowledge and some determination.
But if you want to earn a good income as a car flipper, then you’re going to need to work on setting up the business and will probably need to be doing it full time. You will need to carefully watch expenses, especially advertising expenses and repair costs, plus have a great source of cars.
You can source cars from lots of different places such as franchised garages, auctions, classifieds and small garages. Our favourite way of finding stock is by using franchised garages. But you will need the skills to form great relationships with local garages.
You will also need to learn how to wash and valet a car properly. Good photography and copywriting skills are also becoming more important in the digital car selling age. You will probably need more than just a few cars in stock too. But the good news is that you can start slowing and build the business and your confidence up over time.
You can also earn a great additional income from flipping cars part time. I have seen many people selling 10 – 20 cars per year to supplement their income, or to pay off debt or fund a holiday. It can also be a fun and rewarding hobby.
However you look at it flipping cars for a living or as a simple side hustle can be highly rewarding. Very few side hustles have the potential of car flipping, so by following the advice on this website you will be able to make a great additional income or escape the 9-5.