Are You Becoming a Part Time Motor Trader?
Advice on the steps you need to take if you’re thinking about becoming a part-time motor trader.
Starting a new business in most cases can be a risk, which is why many entrepreneurs and those hoping to be their own boss, start out working part time. However, for some people, operating on only a part-time basis may be their ambition, as they look to turn a hobby into a paying profession, whilst also maintaining a full-time job elsewhere.
Figure Out What You Want to Do as a Part Time Car Trader
If you’re becoming a part time car trader you have to make sure that you are not limiting yourself as to what type of motor trader you can be. For example, if you were thinking of opening a mechanic’s workshop, you may struggle to achieve success if your hours are limited or inconsistent. Yes, you might be able to work flexible hours in your other profession but your operating hours would still be short – which won’t work for a lot customers, who may be more used to dealing with a garage from 8am until 6pm, 6 days a week.
However, you could position yourself as a niche body shop business, or become an MOT Tester, the latter of which aren’t required to undertake work on the cars, and could therefore operate different working hours offering a convenient service to a larger section of motorists, who would otherwise have to use their weekend or potentially take a day off work to get their vehicle MOT tested. Of course, there are some motor trade professions that suit themselves to part time trading, such as car dealing, as it can easily be done from the trader’s home, and the non-standard hours allow for customer viewings to take place at weekends or after normal business hours.
Finding a Place to Work From
One of the biggest hurdles you may face in your ambition to become a part time motor trader is where to work from. Some traders will be able to operate from home such as car dealers, and for some traders there won’t be any need to find a dedicated business premises, for example a mobile valeter or a mobile mechanic – as they will only need their tools and van.
However, not every trader will be able to operate from home, and this can be for a number of reasons. For some traders it wouldn’t look professional and for some it would not be logistically possible. If you were to operate from home as a mechanic, customers may doubt your abilities if your workshop is the garage attached to your house. If you opened a (hand) car wash on your driveway it might not be big enough to fit multiple customers and it might not be big enough to offer a quick service.
Part-Time Motor Trade Insurance
Once you have figured out the type of part time car trader you intend to be and where you will work from, you’ll need to start thinking about your insurance policy. If you’re progressing from a hobbyist to a part-time trader or even a full-time car trader, you will now need to make sure you have the right insurance policy.
For those who wish to become a part time car trader, they will need to take out a policy that reflects that. A Part-Time Motor Trade insurance policy is specifically designed for those who operate on a part-time basis, as it takes into account your other profession. The type of job you do alongside being a part-time motor trader may not always be seen favourably by the insurer however, and in some cases an insurance policy will not be offered.
At Think Insurance we try our best to get you the best Part-Time Motor Trade insurance policy available to you, and if we aren’t able to find you cover for some reason, we will discuss this with you, along with the reasons.
Becoming a Part Time Car Trader? Get a Quote!
If you would like further advice on taking out a Motor Trade insurance policy as a part-time trader, then we can help you out. At Think Insurance, we have a team of Trade Car insurance experts with years of insurance knowledge that can offer advice on what type of Motor Trade policy is right for you. Call 0800 221 8077 or Get a Quote to start the quotation process today!