Used Car Dealers Company Investment Opportunity in Hong Kong

Mobile application for the automobile industry in Malaysia, requiring investment to launch the business.
This Business is on a Premium Plan
Established From
Employees
Legal Entity
Reported Sales
Run Rate Sales
Nil
EBITDA Margin
Operating at break even
Industries
Used Car Dealers + 1 more
Locations
Local Time
9:58 AM Hong Kong
Listed By
Business Owner / Director
Status
Active
Overall Rating
Seeking Investment
USD 1.2 million for 20.0% stake (Native Currency: HKD 9,000,000)
Reason: To finish developing the final version of the mobile application and to hire a sales team to begin o... View More
Name, Phone, Email
Available after connect
Business Name
Not disclosed
User Verification
Documents
Business Overview

- A mobile application for the automobile industry.

- We are in the pre-revenue phase.

- The working prototype of the application has been developed, by third-party developers.

- The app acts as a bridge between car showrooms and used car dealers, when an individual wants to trade in their old car for a new car.

- Typically when an individual wants to purchase a new car, they trade in their old car and the amount received goes towards the purchase of the new car. The showroom from where the customer wants to buy the new car, will have to contact a middle-man who will further contact multiple used-car dealers in order to purchase the old car from the customer. The middle-man charges a high commission on the transaction which is further levied on the customer.

- For example - A customer with a Toyota, now wants to purchase a BMW. He goes to the BMW showroom and wants to trade in the Toyota. BMW showroom contacts a middle-man who further contacts multiple dealers to purchase the Toyota.

- Our application aims to cut out the middle-man. The BMW showroom can now put up the Toyota car with all the required information on the application. A notification will be sent to all the car dealers. The car dealers then go into a 15-20 minute bidding war and the highest bidder gets to purchase the car.

- The commission our mobile application will charge will be considerably lower than that charged by the typical middle-man connecting showrooms to used car dealers.

- The increased value achieved for the trade-in, gives the customer a better result, more peace of mind that they get the best deal and more likely to proceed with the transaction.

- We will be launching this application in the Malaysian market initially and are targeting to on-board 900 used car dealers within the first year.

- The funds will be used to finish developing the final app and to hire a sales team to begin on boarding used car dealers in Malaysia.

- Business Owner originates from New Zealand, is currently based in Hong Kong and has a Automotive Industry consulting business established through APAC. Has strong experience in the world of business, specialising in the motor industry.

Products & Services Overview

Mobile application for the automobile industry, helping connect showrooms to used-car dealers.

Facilities Overview
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Disclaimer: SMERGERS is a regulated marketplace for connecting business sell sides with investors, buyers, lenders and advisors. Neither SMERGERS represents nor guarantees that the information mentioned above is complete or correct.
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