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Author Topic: [BITAUTO]Established Profitable Auto-Resale Business  (Read 1280 times)
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BitAuto
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October 02, 2014, 06:02:29 AM
Last edit: October 05, 2014, 08:20:47 PM by BitAuto
 #1

BitAuto is the culmination of 2 years of auto reselling focused on creating the best possible return looking for quality vehicles, providing customers with the best possible service experience, and learning the intricacies of reselling vehicles for the best possible price and buying them at lowest possible price. We're a two man team located in Phoenix, Arizona and we are certified to buy and sell vehicles at auto auctions within the state of Arizona.

What we hope to achieve
Our goal is to expand the business with our investors and provide them with a physical real world investment based about reselling vehicles locally in the Phoenix, Arizona area. We have spent the last 2 years learning the ins and out of purchasing automobiles and reselling  locally via Craigslist and via eBay. We've been able to source vehicles in an effective, and efficient manner, have focused with good success on purchasing vehicles both new and used at auction. There's a huge marketplace for vehicles as people move up in income bracket looking for affordable, reliable, and robust automobiles.
 
Dividends & Shares
Our focus is on protecting shareholder value. Biggest part of the profits will go to the shareholders, while remaining profits will be invested into sourcing new automobiles, covering the multitude of fees associated with reselling, and ensuring that remains profitable. We here at BitAuto place a lot of effort into protecting the value of our shares and will only dilute share value under strict vote of the shareholders. Shareholders will determine how many shares will be issued and when. Not before.

This is how shares will be distributed:
Total Shares: 100,000
100,000 Shares at 0.001 BTC

Dividends: Paid bi-weekly.
70% to shareholders
20% for management
10% reselling fees


We utilize Circle for all our bitcoin transactions ensuring that deposits and withdrawals are quick, efficient, and most importantly on time.
BTC Address:1DxNktpoAi7FGmhAkFZ3aSXmhQtvxFUJH6

For any questions, comments, and concerns please post below.
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pascal257
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October 02, 2014, 08:41:18 AM
 #2

At current exchange rates you're looking at funding of at best 4k USD.

I don't know about Phoenix, but where I live, you don't get that many cars for 4k USD. Imagine you buy a car that you can't get flipped. Your business would be grounded because most of your funds are now immovable.

Next are the management fees. Let's say you buy cars for 4k USD and you're able to flip them with 20% premium within 2 weeks (good job!). That results in a total profit of 800 USD from which you get 160 USD. Extrapolate that to a month and you're looking at less than 400 USD a month. Are you sure you're able to sustain a business with that?
BitAuto
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October 02, 2014, 03:38:25 PM
Last edit: October 02, 2014, 11:54:03 PM by BitAuto
 #3

At current exchange rates you're looking at funding of at best 4k USD.

I don't know about Phoenix, but where I live, you don't get that many cars for 4k USD. Imagine you buy a car that you can't get flipped. Your business would be grounded because most of your funds are now immovable.

Next are the management fees. Let's say you buy cars for 4k USD and you're able to flip them with 20% premium within 2 weeks (good job!). That results in a total profit of 800 USD from which you get 160 USD. Extrapolate that to a month and you're looking at less than 400 USD a month. Are you sure you're able to sustain a business with that?

I'm so sorry, I accidently forgot a 0 from the number of shares when I was typing this up last night, it is 100,000 shares not 10,000. You're absolutely correct that 4k USD doesn't get you a lot of car for your money but we currently operate at about the 10k USD level which typically buys you a 2010-14 mid-level sedan such as a Chevy Malibu or Ford Focus that can then in turn be sold at profit from anywhere ranging from 1k to 3k USD. The factors that determine how well we do is the number repairs (typically very little), getting appropriate parts to enhance the value (OEM rugs, rims, replacing damaged parts) and the current market's interest (SUVs naturally do very poorly now but can can be bought cheaply) in the vehicle. As far as sustainability, our overhead is minimal at best. We typically spend very little money going to auction, and since we're allowed access to auctions reserved for dealerships, our competition is much much lower. Craigslist likewise takes little time or effort to utilize while being very very effective.
BitAuto
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October 03, 2014, 12:26:22 AM
 #4

How would you guys feel if we were listed on Coinsortium or another exchange?
GT3000
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October 03, 2014, 03:02:19 PM
 #5

Couldn't hurt. When's the first dividend?
floatyfish
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October 03, 2014, 04:52:16 PM
 #6

Could you give us any more personal details? How many cars have you guys flipped over the past 2 years? Could you guys provide some ID that proves that you really are who you claim to be?

If you feel like donating: 1NtgJf4znCsA5GJDCbqtowHL2143WyqLkC
Chef Ramsay
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October 03, 2014, 05:27:24 PM
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Could you give us any more personal details? How many cars have you guys flipped over the past 2 years? Could you guys provide some ID that proves that you really are who you claim to be?
Unfortunately, the way this subforum operates ya might just want to add birth certificates and passports to support the ID. That together w/ a decent track record of car flips will make people feel more safe in joining your effort.
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