www.PartnerUp.com - Small Business Community
 
1

Armand Tanoh posted a new Starting A Business thread on 1/11/2010

Really need your point of view of my startup idea

Hey Guys, i was thinking about creating a star-tup that should help used cars and auction cars buyers run a throughout check on theirs potential purchase thanks to a vehicle engine scanning device i found in japan, what do you guys thinking this could impact purchase decision peace of mind wise..
0
 
PartnerUp! Share This
Mark As Favorite
Mark As Spam Reply!
 
 
Sort Responses by : | |
1

Tom Fleckenstein Responded on 1/12/2010


My suggestion would be to ask the potential users. Do a little market research and find out what the interest really is, as well as determine the pricepoint. Develop a 5 or 6 question questionnaire and go out and ask! That should give you a good feel about the product the sensitivelty to sales and other issues that may be considered either helping or hurting your sales.
 
1

Tom Fleckenstein Responded on 1/12/2010


My suggestion would be to ask the potential users. Do a little market research and find out what the interest really is, as well as determine the pricepoint. Develop a 5 or 6 question questionnaire and go out and ask! That should give you a good feel about the product the sensitivelty to sales and other issues that may be considered either helping or hurting your sales.
 
105

William Henderson Responded on 1/12/2010


The used car market has taken a huge hit due to Cash for Clunkers - so a huge number of vehicles were taken off the road and many wholesale/auction firms are in bad shape due to lack of cars. My gut feel is the lack of inventory would work against you. Also, many might be skeptical of paying for advice/results from an unfamiliar technology. Maybe such a concept could be coupled with a service like Carfax and that might have a chance.
 
101

Chris Silvey Responded on 1/12/2010


Hate to burst your bubble, but those scanners are available in any autozone store and as far as used car dealers, milage, bluebook value and a trusted network partners influence most of the their decisions. I come from a family of used car dealers.
 
1

Armand Tanoh Responded on 1/12/2010


Hey Chris, thx for a lot for your cue but what do you think is the most important car buying decision factor and also why do you think buyers also request a carfax report..if it's not to trying to have a little of peace of mind in the product they are buying but the other thing is that carfax is also limited to accidents history and mot the car health itself..i know this might be a little awkard for used car dealer not to be only trusted only by their sole word on a quality of a vehicle but i think allowing this option could add up more credibilty to the used car dealership quality wise.
 
1

Armand Tanoh Responded on 1/12/2010


hey Mark thanks for your post..i really appreciate your honesty on the question..but can you personally tell me how many time have bought a used vehicle and been a little concern how long before the first breakdown because you had no way to find out but trust the car dealer words always saying it's atop quality car wih very low mileage or whatever..but how can you find out for yourself when carfax only provide only accident report..hey by the way, i like your idea for coupling this project with carfax..because that 's true and we all know carfax has his limitation too ..right??
 
1

Armand Tanoh Responded on 1/13/2010


hey Mark thanks for your post..i really appreciate your honesty on the question..but can you personally tell me how many time have bought a used vehicle and been a little concern how long before the first breakdown because you had no way to find out but trust the car dealer words always saying it's atop quality car wih very low mileage or whatever..but how can you find out for yourself when carfax only provide only accident report..hey by the way, i like your idea for coupling this project with carfax..because that 's true and we all know carfax has his limitation too ..right??
And also the scanning device to be used is not the autozone one but a more sophisticated one with that show three light greem/orange or red depending on the engine/transmission health and the web informations collected from the vehicle scanned can be viewed on the web to know exactly whats wrong with the vehicle..i don't think the autozone one can do that.
 
101

Chris Silvey Responded on 1/13/2010


Hi Armand, Let me explain a little about the industry as I know it. Before a auto can be sold to either a dealer or the general public it has to be able to pass inspection. Knowing this most dealers have a check and service system in place. They have their own mechanics.

With larger used car lots, most generally get their stock from dealerships, which I mentioned falls into the trust factor. Those dealerships usually have carfax.

Please don't think we are bashing your ideas. We just don't want you to waste your time and money on a prospect that shows very little demand. In this economy you cannot rely on just one product or service and as far as this it is already in place and in use. Beleive me I tried to reinvent the wheel, It just doesn't work when the market is saturated and or established.
 
27

Robert Ward Responded on 1/14/2010


Its nice to see some response on this forum ! Armand, I too have had dealings in the used car market and don't loose hope because there will always be a demand for affordable transportation. I have been to many auctions and experience is the key to buying a car at an auction and things move very quickly your product would have to be able to be used by an average person and be reliable. This would allow dealerships to be able to have less experienced people choosing their cars for them. Keep in mind the technology would rely on the accuracy and reporting of the cars mechanical history, and the first time that someone gets burned relying on the scanner word of mouth will put an end to your product. Good Luck!

Regards
 
1

Armand Tanoh Responded on 1/15/2010


hey Rob, thanks a lot for your input...your post is really wise and this is that kind of answer that i really appreciate that reveals both pros and cons of a new product..Really you give your advice give me hope and also mitigate my excitement but it;s definitely good for me as for anticipating on mistake and product reliability before putting it on the market... i therally do my homework on it before anything else so to to be a witness myself but know that i put the topic up here because i 've seen a certain potential in using it to avoid getting burnt as well when only relying on somebody word for a vehicle reliability..but also as you said, getting burnt after using this product is a possibility but before hand, all risk and detail as for using in will be stated upfront to the potential customer...i really appreciate your advice as it give me a better understanding of potential pros and cons of venturing in this never explored yet type of business....
My otherv question is to you is the following, what do you think is the best way to go approach wise: these devices right out from the manufacturer to begin my start-up with or partner-up with them and go the way a little a bit like a car rental company partnering with a car manufacturer...what could be the best way to go?
 
105

William Henderson Responded on 1/15/2010


I like the partner up idea. Limited liability. Most States have lemon laws and I would be concerned for legal liability for damages as a result of your device giving "innacurate" or "defective" results and/or "implied warranty" etc. Also, there may be many States or Federal laws requiring registration (consumer protection) or license or as otherwise regulated by DOT's depending upon if you are simply selling the device (I don't sense that is what you have in mind) or you are charging for a professional service. Good luck.
 
27

Robert Ward Responded on 1/15/2010


Armand, If the manufacturer would be interested in partnering up with you that would ultimately be the way to go! Not only would it mean instant funding for your idea it would also put strong support behind your product and relieve you of alot of the liability of product failure. On the other hand you will be giving up alot of your independant say so and they may have their own ideas that you would not agree with. In other words by partnering there is less of a chance you will lose very much but it may not go exactly the way you want. What ever the path you choose just keep in mind success is always possible!!!!

Regards
 
1

Armand Tanoh Responded on 1/15/2010


thanks ROB, You know i'm really kinda overwhelmed by the different feedback i get but a few like your really make me look forward to see this project come true..and your advice are right on point..You know whatever deal i could cut with the manufacturer, i already know i would have to give up some say or share but i think for me it's worth it since this can in a way revollutionize the way we are now buying used vehicle and guess what, options is always good for the customer right??you don't give your money if your are not sure on the quality of something but i think this time, i'm could offer used car buyer an option to choose instead bringing a mechanic in in their car shopping ..
But really what i need right now, is to assemble a team or find skillfu and l partners to make it really happen..you know i have no real business or start-up experience..i'm more of a techie guy..but i have the drive and some good customers service skills and marketing but on my own, it's overwhelming thoough..what do you think i should do about that..??
 
 Respond to thread
( Paste a youtube link to embed a video. eg: http://www.youtube.com/watch?v=dQw4w9WgXcQ )
Share on:



 Latest Business Articles

Learn more about being in business
The PartnerUp's Community's "How-To" content provides a deeper, more complete look into the topics and issues facing small business owners.



Read more..


 Explore The Community



 Helpful Resources