As fellow used tool dealers, we get what is important to other dealers and have looked at this long and hard at how to best serve their needs. It’s important to understand dealing is an occupation that requires contacts in which to turn over goods.
The quicker the turnover and the more times you are able to do this will have a direct impact on your profits, cash flow, and earnings.
Some of the best dealers I know don’t even work online because they have learned to gain the trust from the right contacts and are usually happy with the profit margins they make, they have worked out that there has to be something left in the pot to move things on quickly.
My father was a successfully used tool dealer neither rich nor poor and there were others more successful than him but this didn’t stop him from making a decent living from selling old tools.
One thing that was important to him was his contacts and access to turn those rare finds into more stock and more profits. A quick pound is better than a slow two, my father was an advocate of this saying and turnover was paramount to his weekly profits. Understandably there were times he moved things on knowing there was still more profit to be had but that took ‘time’. Traditional specialist tool auctions were usually held every 2-6 months here in the UK so this wasn’t usually an option for him unless he could warrant that time.
I’ve always said dealers are the lifeblood of any industry and none of us can be everywhere at the same time. Every dealer needs a little luck from time to time but how best to turn this into its full potential sometimes requires a helping hand.
Our door is always open, get in touch and ask for Steve.