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00:00:00 – 00:11:37
The video follows the speaker's journey in the car business, starting at CarMax in Kansas and later opening their dealership, Ad Astra. The speaker faced challenges with pricing, perceptions, and debt collection but adapted their business model for long-term success. Ultimately, they transitioned to the fast-food industry, following advice from their father in Freddy's Frozen Custard. The speaker's shift led to running a successful business with 11 stores, aligning with their passion for cars and venture into YouTube content creation. The narrative highlights the importance of perseverance, strategic pivots, and seizing new opportunities for personal and professional growth.
00:00:00
In this segment of the video, the speaker shares their experience working in the car business, starting with CarMax in Wichita, Kansas, where they struggled due to the strict structure and non-negotiable pricing. They then moved to a Chevrolet Cadillac BMW store, which led to a memorable encounter where a customer bought a truck at full sticker price, boosting the speaker’s confidence. Despite the challenges and realizing the limitations of a degree in political science, the speaker expresses determination to open their own car dealership, which they eventually accomplished in 2010 with Ad Astra.
00:03:00
In this segment of the video, the speaker shares their experience in the car dealership business. They initially struggled to make money due to challenges in sourcing inventory and customer perceptions of car dealerships. The speaker discusses the frustration of being perceived as a jerk for making money in the car business compared to other industries. After facing difficulties, the speaker decided to change their business model to emulate buy here pay here dealerships, focusing on selling cars that will last and generate steady income over time. This shift in strategy was driven by the realization that consistent, long-term income was key to survival in the industry.
00:06:00
In this part of the video, the speaker shares their experience of facing challenges with debt collection in the car business. They recall a specific incident with a teacher who bought a van but failed to make payments, despite claiming financial difficulties. The speaker also discusses their idea of implementing payment boxes and tracking for a rent-to-own concept in the car business to address the issue of non-payment. However, after consulting with their father, who was in the fast-food business, they decide to pivot away from cars and instead focus on joining the family’s venture in Freddy’s Frozen Custard and Steak Burgers. The speaker ultimately chooses to leave the car business behind and pursue a new opportunity in the fast-food industry based on their father’s advice.
00:09:00
In this segment of the video, the speaker discusses transitioning from flipping burgers to running a business with 11 stores. They mention their car passion and journey into writing about cars, leading to a successful YouTube channel. They now have all the cars they’ve ever wanted. The speaker emphasizes the importance of walking away from bad situations and how it can lead to positive outcomes. The video also features a promo for Patrick Adair Designs, known for unique rings made from exotic materials. Use code “vinwiki” for a discount.