DASS Auto is a used car dealership founded in 2019 by 4 friends, a $50,000 personal loan and their parents' garage. We have proven our ability to scale over the past couple years and are raising funds to provide online car buying and selling experience to an underserved market.
It’s a well-known fact that people hate going to the dealership. It turns out that even now, in 2022, people still hate the dealership, they still hate salespeople, and hate waiting. There are some modern solutions to this issue such as shift.com, Carvana, and Vroom that have validated the need for an online car shopping experience, but they leave a gap in the market.
The other tech giants are focused on used vehicles 10 years old or newer and all stock around 1% of vehicles under $10,000 compared to their entire inventory. That’s where DASS Auto comes in.
We are currently a used car dealership and repair shop specializing in vehicles under $10,000. DASS Auto was founded in our parents’ garage and a $50,000 personal loan. We started as a team of 4 and now have a team of 9 with a 6,000 square foot warehouse. In 2021 we quadrupled our total revenue ($1.37M) and tripled the amount of units sold (228). Our website and our google business page get around 5,000 monthly views each and we get over 10 new incoming leads a day with 0 paid advertising (only 3rd party listings).
Most of the sales process can already be done through our website such as signing paperwork, financing and getting an estimated trade-in appraisal through our website. When we switch our focus to online, we would like to create customer accounts to increase customer retention.
We always had the intentions of providing our services online since inception but always lacked the resources. The initial plan was to get a big enough bank loan to purchase more vehicles and get a delivery truck, but came to the reality that would be impossible being 25 with little established credit.
We are now looking to raise money to bring our vision to life will be immediately going towards storage space, a delivery truck, lowering overhead from loan interest and increasing inventory. We have a full plan to scale with detailed growth projections and expenses over the next 5 years to reach an annual revenue of $100M. We may not have been able to make our service fully digital in the past, but these 3 years in the business has taught us how to grow and efficiently operate with limited resources.
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