You've Always Loved Cars?
You've always loved cars. You're attracted to the lifestyle, you may have made a few quid that's now burning a hole in your wallet and you think setting up a supercar club would be a great thing to do. You may even own or have access to a few desirable cars that are sitting around in your friends' garage.
Well, perhaps think again. Many people have tried, tested the market and failed. Some new start ups are still out there, but for how long? Many fall by the wayside due to ineffective planning and marketing, unrealistic sales projections, underestimated cost budgets and cash flow analysis and the cost everybody abhors - depreciation.
If you're looking to start up, don't let this deter you as you've already made a great move by being on the number one site to research the fractional ownership marketplace. Fractional Life also has a Consultancy function http://www.fractionallife.com/consultancy.asp which gives you access to some of the best fractional ownership professionals in the business.
Get it right and you can have a successful business and lifestyle to match - take Classic Car Club, launched in 1995 by David and Phil Kavanagh using just 8 interesting cars out of a garage in Kings Cross, London.
The London Club has around 60 cars for members to choose and has rolled out the concept through franchising both in the UK and overseas.
Franchising the Classic Car Club concept hasn't been easy however and the Club closed Woking and the Birmingham / Manchester branches mainly due to franchisees' lack of finance, time, and sales and marketing ability.
However, the planning and execution in the USA has been rather cute! Ask yourself how many small UK companies even find premises to launch successfully in the States - there's also one heck of a lot of legislation to overcome.
There's also perhaps easier ways to make money but the lifestyle and the allure of the cars is a big draw for anybody wishing to get involved in the business.
Strangely enough, it's been a whole lot easier for Classic Car Club to launch the asset - sharing concept in the US than when they launched in the UK.
"New Yorkers are more in tune with the sharing concept from the outset and liked the club 'vibe' with a mix of both American and European cars. They also seemed to be turned on by the fact the Club's heritage was British!" says Phil.
"The Americans are a lot more comfortable with the phrase, 'Why buy when I can rent and be part of something special?' Just look at the way the fractional ownership property market has grown in the States, the marketplace is huge."
The UK consumer is certainly starting to embrace the classic and supercar fractional ownership concept if the amount of Clubs operating within the marketplace is a true testimony.
If you're thinking of joining a classic or supercar club make sure you subscribe to Fractional Life http://www.fractionallife.com/subscribe.asp to download a 'buyers guide' comparison of all the main clubs operating in the marketplace and the top 25 questions to ask when you contact the Club.
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