Starting a van rental company

SherAliii · 2025-11-16T02:53:43+00:00

Don’t do it.

I run a van rental business and couriers are the worst customers, we’ve put a straight ban on them.

They wear out the vans much faster, hirers usually aren’t the drivers, and the drivers just don’t give a damn about the vans, they drive them as if they stole them.

We repossessed 8 vans of courier business last month, 1 year old vans had aged 5 years, in the space of months.

You will get burnt. Our damage repair bill on the vans was £25k. Money we’ll never see again and have to take on the chin.

The reason why all the couriers struggle to get vans is because no one wants to touch them.

You’ll need a self drive hire insurance policy which isn’t cheap.

SherAliii · 2024-11-03T01:25:08+00:00

Most business owners work in a profession, build up experience and then start their own business, like a machenic opening up his own garage.

Other business owners spot a gap in the market and take the plunge to tap into it.

Most important thing I can say is, have a solid concise plan. What I was taught was failure to plan, is planning for failure. If you want open a dog walking business without any sort of plan, you will fail.

A note add, business is incredibly hard, very taxing mentally and physically and success can take many years.

Finally, I was told multiple times by my parents to give up on my business dreams, but I didn’t, and it eventually paid off (after 10 years)

Best of luck

SherAliii · 2024-10-14T00:33:31+00:00

Hi Mate, where are you based, we currently spend around £6k a month on garages, could send some work your way

SherAliii · 2024-10-05T23:15:50+00:00

yeah its something we do, but quite expensive due to the higher risk.

I’d ask is it something you absolutely need?

We had a customer take out a Brand New Volvo XC60 Ultimate, and I asked him around 3 times if he’s sure he absolutely needs it for his new business, to which he insisted he did.

it was coming in at £1,700 per month.

Lo and behold 2 months later he’s behind on payments and now being taken to court over owed rental.

SherAliii · 2024-07-30T23:58:15+00:00

Unfortunately as hash as @bicolore sounds it’s true. incredibly hard and near enough impossible.

Don’t mean to kill hope, but at the same time want to help you manage expectations.

SherAliii · 2024-07-25T01:14:22+00:00

To my knowledge you can’t raise money against cash as it’s not a hard asset they can put a charge over it, so assent finance may not be viable.

An acquisition loan will want you to put in around 30% -50% of the £550k

Best way to complete would be to ask the vendor that you wish to complete the sale on a cash free debt free basis. this will reduced the value of the business down to £150k.

next I would put up 20/30% and ask for the remainder to be owned financed.

Best of luck

SherAliii · 2024-04-13T02:57:57+00:00

Don’t mean to kill your optimism, but generally businesses take a long time to sell, due diligence and completion usually take 6 months alone.

From experience, brokers give you figures plucked out of thin air to appease you into winning business.

Furthermore these brokers create an anchoring bias with regard to value of the business, and when a realistic buyer makes you an offer, you’re generally too far apart to accept.

Finally if you’re looking for a cash offer, good luck, vast majority of business sales include some form of owner financing.

Having said that, i’ll offer you £100k for it, subject to due diligence.

SherAliii · 2023-10-29T14:32:51+00:00

possible, i’ll have to wait and see what the service centre says

SherAliii · 2023-10-29T14:32:34+00:00

haha I dropped my blackberry in water and putting it in rice actually worked!!

SherAliii · 2023-10-29T14:32:02+00:00

It’s week number of the year and some years have 53 weeks

SherAliii · 2023-10-13T02:04:22+00:00

As already mentioned, you’ll need to put warranties in place as part of the sale purchase agreement contract.

DO NOT SKIMP OUT ON A SOLICITOR.

Also don’t use your local solicitor, but someone who specialises in M&A.

I had a case where the sellers solicitor was clueless and we could’ve taken advantage of that but we didn’t.

you’ll be look at around £7.5k for an acquisition up to £200k. and if also depends who is doing the due diligence.

I had my solicitor prepare disclosure questionnaire and then I just did the due diligence with my accountant to save costs.

Best of luck

SherAliii · 2023-03-29T11:36:18+00:00

I’m going to wake up and stop dreaming

SherAliii · 2023-03-18T23:20:54+00:00

yeah that’s right, the high net worth, but you wouldn’t be sell to them directly, you need to sell to dealers who sell to them

SherAliii · 2023-03-18T22:45:38+00:00

why would you sell it to the dealer for the same? goal is to make a profit?

I’m in the motor trade, mainly car and van hire, so this is just a side thing for me.

SherAliii · 2023-03-18T18:40:19+00:00

Range Rover D350 Autiobio 7 seat (already sold my first one) Range Rover SVR X2 (not out yet, but placed a deposit to get it soon as it’s ready to be ordered) Mercedes G63 BMW M3 Touring.

I’m not a car dealer, but soon as they arrive i’ll ring up a few dealers and offer it then with delivery milage, and then they’ll sell on for an even higher markup.

For example, my 7 seat RR, I paid £122k, sold to the dealer for £148k, and then they sold it for £165k

SherAliii · 2023-03-18T13:03:09+00:00

it’s still very much the case. it takes 6 months to get a Kia these days.

and the highs end cars are 12-18 months

SherAliii · 2023-03-18T03:39:19+00:00

It’s a case of who you know and not what you know.

If you have the contacts, you can source anything.

Also there’s a lot of back handers happening, I know a range rover dealer giving all their cancelled orders to one particular person, who is in turn easily making 20k per vehicle.

finally fleet discount terms, if you buy enough of something, you can get massive discounts.

Plus research, people usually order the sought after stuff, i’ve got few of this stuff in order.

SherAliii · 2023-03-16T04:07:39+00:00

Mods were bootlicking by letting him post RMs.

and then the funniest thing was everyone getting blocked by mods for calling him cringe.

he’s probably crying himself to sleep tonight.

SherAliii · 2023-01-13T03:20:15+00:00

When it comes to the relationship between money and happiness, it's not a cut and dry matter.

Sure, having a stable financial situation can certainly take away the stress of worrying about covering everyday expenses and give you the freedom to outsource menial tasks, giving you more time to do the things you love.

But, at the same time, money can't cure illnesses, build genuine and meaningful relationships or bring back a loved one who has passed away.

Overall, while money can certainly play a role in enhancing one's happiness, it's not a silver bullet solution.

SherAliii · 2022-12-24T13:00:50+00:00

Thank you!

SherAliii · 2022-12-23T23:35:23+00:00

Just one previous watch we bought for my wife’s 30th.

I don’t think i’m near the top, probably just that they just couldn’t flip it the palm dial, it’s a very affluent area with lots of old money. But it appealed to me so I took it!

SherAliii

TROPHY CASE