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What is your dream auto repossession business?

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  • What is your dream auto repossession business?

    Do you have a vision or a dream or a thought of where you would like your auto repossession company at the top of it's game? Do you often see yourself having a fleet of trucks, a high tech office that would NASA to shame and a nice work flow of something like 1500 repos a month?

    I had a nice sized office with indoor storage that would accommodate WAY over two tractors with trailers. There was an office up front where debtors came in with a reception window and driver's room. And then there was a place where my office staff manned the phones. I had a decent sized office in the bay are with a private bathroom. We also had a gym in the bay with about 12 individual stations made by body solid. My storage yard had an older fence of correlated steel and was about 7 acres. Behind that was another 7 if I ever wanted to expand. I had another office and lot about 3 hours South of the main office. I rented a real nice 2 bedroom apartment and put some furniture in it about 2.5 hours East of me. It had a PC, internet and a plain paper fax machine too. I would sleep there and I had it available for my drivers out that way to crash or live temporarily if they wanted to. A mile or so from the apartment I had an unmanned, secure drop yard.

    I had a nice sized fleet of new equipment that was the envy or other repo and towing outfits a alike.

    Now that was what I had, but I also had a dream! Now remember, a lot of this (in the next post) was just that, a dream!
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  • #2
    I always had this dream of what my repo business was going to become. More work than I could handle, covering 5 or 6 states, a fleet of 50 wreckers, rollbacks, transport trucks, semi wreckers and a couple of lowboys for yellow iron. Oh, and I wanted all of my trucks to be a sharp, custom paint job Hunter Green!

    I wanted to have a newer office building erected in front and side of my indoor storage. I wanted to have about 8 to 12 cubicles for customer service folks, a lunch room a full kitchen and a driver's room with desks for each of my guys. Now for the debtors I had this vision of a reception window with bullet proof glass and a speaker system. I wanted one of those turn style windows that some fast food drive up windows have to spin property to debtor's - a big turn style window so there was never any staff and debtor contact. I also thought it would be nice to have 2 shifts of office staff to cover all time zones 6am - 2pm and 2pm to 10pm and a cover shift in the middle. I also wanted a 10p - 6am shift for data entry and a where drivers could hand in updates. A whole, full service dispatch center!

    For my lot, I wanted a gate that driver's could pull up to that would open remotely. a paved lot (mine was always gravel) and the most high tech security system money could buy. In the bay, i had a picture in my mind of a wall of snap on tools, a tire changer and a part's room full of hoses, extra truck parts and diagnostic tools.

    What is your dream? Even if it is the impossible, what do you daydream about when it comes to your auto repossession business?
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    • #3
      As far as office, and the company size I prefer being a small owner/operator rather than a big company .. But I would love to be able to afford a new 5500 dodge diesel wrecker with a self loading bed. A remote gate would be nice too ..

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      • #4
        i have run 9 trucks for many years, 4-500 per month out of one location.....now i run 4 and a flatbed....i make the SAME amount of money.....more means more....more money, more bills, more babysitting, more crap, just more.....less is good at this point in my life....i have no dilusions of greatness or desire to be any larger....i have and will continue to hone my client base....but my real dream these days is for someone to walk in with a real fat checkbook and buy it all....doubt that's gonna happen, so off to work i go

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        • #5
          Very true Bryan. I think I enjoyed the business a lot more when I had 2 wreckers, 1 flatbed and one office. If I was going to advise anyone, I would tell them not ot get too big.
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          • #6
            I started small and want to stay small at this stage in life. Just want to support my lifestyle, doing something I find CHALLENGING enough to enjoy!

            I'm mainly working local BHPH lots, and taking outside assignments for other companies, whose debtors have wandered into my area, working them as an independent, splitting, on a 10-99. (Call me! Western Slope of Colorado!)

            I have:

            -a 1999 F450 DIESEL self-loader w/camera (very nice)(but COLD-Blooded!)
            -a 1/2+ acre secure lot with sufficient indoor storage for bikes, toys, and personal property. (I USUALLY deliver DIRECTLY to BHPH lots, or the companies I work for as an Independent, BUT, I OCCASIONALLY have vehicles on my lot, usually less than a week.)
            -a trailer for Bikes, ATVs, small tractors, Toys, etc.
            -a Ford F350 Diesel for trailers, travel trailers, boats, etc.
            (set up with bumper pull, gooseneck, and 5th wheel hookups)
            -a 2008 Subaru Imprezza spotter car,
            I need to set up with LPR.
            -a 2003 Vulcan 1600 Cruiser I use for spotting in summer.
            I want to upgrade to:

            -1 new self-loader F350-450 or 3500-4500, automatic transmission, with dollies, gojacks, camera system. (GAS Preferred, NOT diesel but will if I must---Dang injectors and water in fuel...SICK of em from all my years as a pipeline superintendent)
            -1 small rollback, with wheel lift.
            -a LARGER secure lot, with a building including office area, and indoor storage for bikes toys and personal property.

            I want enough work to keep me and my man, VERY busy, as I'm a WORKAHOLIC by CHOICE, 4 to 6 hours is ALOT of sleep for me. Love to conquer challenges. THRIVE when working hard, and recovery biz is like a day fishing for me, I find it extremely enjoyable and rewarding..
            Just want a small piece of the pie, and no employees to give me headaches. I'm too fussy, and would be very hard for an employee to work for. FOR SURE! (no one seems to TRY HARD to do their very BEST, and that's INTOLERABLE to me...just saying, I would be a biotch to work for) LOL! (I will part-time employ my sons when needed, as I have in the past. They have the same values as me when it comes to working hard, I taught them well!)
            Last edited by Crazy Blonde; 01-05-2012, 02:24 PM.
            If you think you can or can't...You're right!
            Do something...Lead, Follow, or Get Out of the Way!

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            • #7
              Would like to open a BHPH lot. Good money in it, plus more repos to do for myself.

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              • #8
                I want to own 2 rollbacks 1 3500 dodge self loader, 1 4500 dodge self loader and a mid size self loader that can hook on big trucks. I also need a bigger lot and another lowboy. and I would like to add 3 mvtrack camera cars

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                • #9
                  Been big. I think the most trucks we had running at one time was 15.

                  Offices in four different cities.

                  Clients galore.

                  I like my life just the way it is now....a few trucks, a few employees and hand picked clients.

                  500 cars a month is a lot to manage. I don't miss that. Actually, not at all. We average about 125 now from a whopping 7 clients.

                  No where near as many head aches as when we operated as the big contender....we offer better service and better results.

                  We don't generate the cash flow like we use too but I like the simplicity and managibility the smaller operation offers.

                  Smaller is better....as least to me.
                  I walk through the Valley of Darkness and Fear no evil on a daily basis.

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                  • #10
                    Originally posted by assetadjusters View Post
                    Been big. I think the most trucks we had running at one time was 15.

                    Offices in four different cities.

                    Clients galore.

                    I like my life just the way it is now....a few trucks, a few employees and hand picked clients.

                    500 cars a month is a lot to manage. I don't miss that. Actually, not at all. We average about 125 now from a whopping 7 clients.

                    No where near as many head aches as when we operated as the big contender....we offer better service and better results.

                    We don't generate the cash flow like we use too but I like the simplicity and managibility the smaller operation offers.

                    Smaller is better....as least to me.
                    Amen to that. Your old company sounds like my old one. I can remember many a night flat on my back in bed thinking of the simpler days when I had 2 wreckers and a rollback.
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                    • #11
                      AA & Brad,

                      I see my point of view shifting that direction at some point. However even though I am in the process of expanding I am not trying to get so big to the point where the company can lose its personal feel and accessability for our clients.

                      Our expansion has also not just not been about getting bigger, it is becoming more efficient and working smarter not harder and bringing all of our services in house and making our company an actual full service repossession agency, not just one that advertises it self that way.

                      My dream repossession business is very simple.

                      Just to have the company to be successfull and to put me in the position to where my wife or kids do not want for anything, and I have that now.

                      It didnt start out that way mind you, thats just my view after getting married and having kids.

                      Prior to that I wanted what everyone else wanted i guess at one point the biggest and best of everything with so much paper coming in i needed 30 fax machines lol.....

                      I built this company and have every intention of leaving it to my son, and if he does not want it thats fine, I will sell it and retire, but family is the most important thing and what this has allowed me to do for them makes it all worth it.

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                      • #12
                        Originally posted by ADMIN View Post
                        Amen to that. Your old company sounds like my old one. I can remember many a night flat on my back in bed thinking of the simpler days when I had 2 wreckers and a rollback.
                        I remember many a nights wondering how in the hell are we picking up 400 cars a month and I'm freaking out about payroll tomorrow.

                        Being larger means your invoice rich 80 percent of the time. You know what else I don't miss......I don't miss the forensic accounting nightmare that comes with tracking all those repos, closes and payments.
                        I walk through the Valley of Darkness and Fear no evil on a daily basis.

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                        • #13
                          My plans and dreams consist of staying pretty small. I would like to have my own yard that I own, with a decent office for clients and dealing with transport/debtors. I want my own private office. I would like to have a large bay for warking on cars/wreckers and some inside storage for motorcycles and atv's. Nothing fancy, just efficient. I would also like to have a workout area as I spend all my time there anyway, I might actually get a workout in once in while.
                          As for trucks, I dream of 2-3 newer self loaders and 1 good rollbacl. I don't need any fancy paint or shiny wheels. I just want them to start when I turn the key (which I guess means I'll never have any more ford trucks) and pick up cars quickly.
                          I want 3-4 drivers and a receptionist and maybe one day a full time skip tracer. Maybe even a manager someday that I can trust with day-to-day operations and I could travel some and not have to work 18 hours days.
                          I see big repo service as big problems. I just want small, efficient and PROFITABLE.

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                          • #14
                            One that nakes me a lot of money.
                            "America's Best Repo Agent"

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                            • #15
                              hmm a dream? i would like 2 trucks running with a nice office/big lot. Repo'ing only high end cars. Lambo's ferrari's mclaren lotus jag's mercedes bmw. i would be like robin hood only not giving the cars to the poor lol. but yeah the high ticket items would be sweet
                              Mike
                              Hardy's Elite Asset Recovery, LLC

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