Webuycars have amassed a lot of respect and great reviews over the years; today, we’re going to find out what sets them apart. We begin the story in 2001, with Faan coming back from the UK at 30 years old to join his brother, Dirk, in taking his (reasonably successful) hobby of exchanging bicycles and transforming it into an actual business. The only issue was, they had next to no money, and as a result, had quite a low-risk tolerance for every exchange. What to do? At first, they could not lose any money on any deal, so they decided to only trade in cars that they were entirely sure about the benefit of, mostly being Toyota Corollas. No real surprise with that choice of car. However, this gives an early representation of the focus that they developed WeBuyCars with. Keeping in mind that it might appear insignificant at this early phase, it is one of the main tools that led to their success.
This technique took them to a stock of 80 cars and their first property in Pretoria in 2010. As I’m sure you’ve seen, they weren’t exactly reinventing the wheel at this point. They were taking an interaction, purchasing and selling cars, and adding a component of convenience and focus to the process — principles they still have today. By being willing to travel to possible sellers, ensuring they just traded in cars that they knew and ensuring they get an off-taker for the car arranged most of the time, let them purchase with certainty and create a standing of trust that would prove to be vital in the manner they developed their business. Particularly as opposed to the negative reputation that most used car dealers were burdened with. The trust prompted their advertising to be done entirely by their first few clients, which started purchasers to come straight to them and the organic beginning of Wesellcars. The primary contrast among them and similar dealerships were that they did not have a repair shop as a feature of their process and, for the most part, just sold cars that have been given a minor facelift.
Digging The Moat
The next point, according to Dirk, was genuinely vital to the company’s long-term growth. That being, keeping every single profit made in the business (and for the most part only using any extra money to pump marketing). According to Dirk, they paid themselves a modest salary and drove the most basic and cheapest cars for quite a while. This is one of the standards made well-known by Warren Buffet and is embraced relentlessly in modern business books. Be that as it may, back when Dirk and Faan were doing it, it wasn’t common practice in business which allowed them to have the option to invest in capital equipment which gave them the primary benefit on a large scale.
This capital investment came as their technology stage, physical warehouse and technological systems. It prompted what would turn into an extremely powerful fly-wheel to create the enormous and unprecedented growth that they experienced. They might have effectively stayed a 100 – 200 car lot, yet Dirk and the group were a lot more ambitious and needed to accomplish more than that. This implies making the right innovation empowering agents to increase their model of purchasing cars on-site – strolling around with sacks of money will stop once you begin recruiting extra purchasers. They were lucky to be everywhere at the boom of the e-commerce era (something Dirk transparently recognizes). That said, there are many accounts of businesses that were also around and didn’t exploit it, so a job well done to the group for putting resources into the innovation ahead of schedule to ensure the scale they were after.
A considerable amount of the bigger dealerships could have scaled to WeBuyCars’ level at that stage. However, none of them saw the potential that technology would bring and that eventually demonstrated the difference. Dirk credits Faan with creating a lot of these frameworks and developing the system for development. Their present call-centre that oversees leads, the product that crunches the data and gives the value range they will pay for cars quickly, the back-end to deal with the paperwork and payment of every deal. Remember the purchasers are generally sitting at the client’s house/office now – all WeBuyCars exchanges occur at the customer home/office – very convenient), This is all created to facilitate one objective, happy clients and same-day transactions.
This technology platform is the thing that lets them continue to grow, and grow. From just eighty to selling 5,000+ cars monthly, their ten employees in 2010 have now become 900. This shows the importance of getting the foundation right to start the boom. For a long time, they grew steadily, contained mainly by systems and capital, yet when the foundation was proper, they rose dramatically.
That said, don’t only take our word for it, see for yourself. Take a look at what some of their clients have said about them!
What WeBuyCars Clients Have To Say
“The best service I’ve had in seemingly forever!”
“Wow, you folks are astonishing!! I made an online inquiry today. Your person, Delon Peters, came over in just an hour and examined, test drove, and gave a decent offer. We acknowledged, signed an agreement, and the deposit was paid promptly into my bank account. Totally marvellous! Many thanks to you!!”
“My car was fixed and brought back to me only a day after I took it in, happily.”
“The service I got from the WeBuyCars branch in Midstream was incredible. I had what I thought would have been an enormous issue with my car, detailed it, was contacted the day after and my car was reserved to be fixed quickly, delivered my vehicle and was assured that the issue probably wouldn’t be that huge.. Many thanks to Malcolm and his team that was responsible for ensuring my car was 100% and for being helpful.”