Apart from your house, for most normal people a motorcar is the second most expensive thing they buy. With the price of fuel, maintenance, tax and insurance prices rising drivers are always looking for new ways of reducing costs. The purpose of this article is to try to recoup some, or in certain cases, even all of these costs.
All of the items suggested in this article can be started on a part-time basis. The business can be fitted around your normal job until it becomes viable then, if you wish, it may become your full time occupation.
A few ideas for making money with motor cars are;
Buying and Selling cars, Chip and Scratch Repairs, Mobil Car Valeting, Courier, Driving School, Wedding car hire business, Taxi and Private Hire, Advertise on your car.
Always check with your car insurance company before trying any of the suggestions in this article. Tell them everything; if you fail to disclose any relevant detail, no matter how small, your insurance may be void and you could be in deep financial trouble if anything untoward happens.
You must also take out Public Liability Insurance. Your existing insurance company will advise you.
As with any business you must keep a note all expenditure and income and retain all receipts for income tax purposes. It is worth employing an accountant to do your annual tax returns; they can save you more money than they charge.
You do not have to register for VAT unless your turnover is above the VAT threshold, which is currently (2011) 瞿68,000 per year.
Any job working with motorcars suggests that you should be a good driver. We all think we are brilliant drivers, but why not take the advanced driving test, this not only improves your confidence and driving but can also reduce your insurance premiums and fuel consumption.
Franchises are available for most forms of income with motor cars.
Getting a franchise from a national company can be a good way of getting your motor car business started but you MUST think very carefully and read all of the small print before you sign any contract. You may still have to pay the vehicle rental and franchise fees when you are on holiday or cannot work due to accident or illness. This cost must be considered in the pricing structure for your services.
Your vehicle must be clean, legal and in good working condition as presentation and reliability are the most important factors when running any business using motor cars.
You could combine two or more ideas in this article to maximise your income, for example, advertise on your taxi or driving school car, but keep the advertisements relevant to your business.
Chip and scratch repairs could be combined with valeting. Use your imagination!
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