91. Started a $1.5M Car Dealership on a Credit Card

The UpFlip Podcast

Craig Stowell turned a $400 investment into a $100,000 Ferrari by flipping cars. In this interview, he’ll share how he started his car business, Flying Wheels, and his advice for how to start a car dealership without needing a huge upfront investment.

Craig has had an entrepreneurial streak since childhood. As a teenager he’d buy, fix, and sell BMX bikes, and he earned enough doing it to buy his first car. In his 20s, he quit his 9-5 job and used his car flipping skills to start his own dealership, which has become nationally recognized for its high-quality used vehicles.

While Craig is a natural salesman, scaling Flying Wheels to millions of dollars in inventory wasn’t easy. He’ll talk about what he struggled with when growing his car flipping business and how building a high-performing team drove his success. He’ll also share the challenges of starting his business during a recession and how he’s navigating the issues business owners face today like inventory shortages, price hikes, and inflation.

Resources:

• Flying Wheels - Find out more about Craig and Flying Wheels at their website
• Flying Wheels on YouTube - Connect with Flying Wheels on their YouTube channel
• $500 to Start a Mobile Detailing Business - Listen to more insights in Episode 30 of the UpFlip podcast
• Perpetual Traffic - Learn cutting edge strategies in digital marketing from Perpetual Traffic
• 2024 Digital Marketing Predictions With Ryan Deiss on Perpetual Traffic
• Rich Dad, Poor Dad - Book by Robert Kiyosaki on how people with wealth make their money work for them
• How to Win Friends and Influence People - Book by Dan Carnegie that outlines strategies to change people’s minds and make them like you

Connect with UpFlip:

• On Facebook
• On Instagram
• On Youtube
• @UpFlipOfficial on Twitter

For more insights to start, build, or grow a business, check out the resources on UpFlip.com or head to the UpFlip YouTube channel to see more interviews with business owners and experts.

Thanks for listening!

Kapitel

1. 91. Started a $1.5M Car Dealership on a Credit Card (00:00:00)

2. Car dealership startup costs (00:02:44)

3. Check out Perpetual Traffic! (00:05:35)

4. How to sell successfully (00:07:52)

5. Marketing mix for a car dealership (00:10:57)

6. Fan Blitz Questions (00:16:18)

7. Where to find mentors (00:19:13)

8. Revenue and overhead (00:23:10)

9. How to lead and retain employees (00:28:02)

10. Book recommendation (00:30:49)