The car trader and presenter is no stranger to a good bit of business and is currently reaping the rewards from his latest venture.
4
4
4
4
Mike had owned a storage unit to house his car collection but began having second thoughts after realising he was only visiting it once or twice a week.
Whether it was to clean a window or pump up a tyre, the motors expert was never there for long.
“I had this amazing space in Warwick, which was where I housed my car collection,” Mike told the Car Dealer Podcast.
“I had turned it into my ultimate man’s cave. It was a bit excessive, I’ll be honest with you.
“It looked incredible. And all the time I’m staring at this building, I’m thinking, why did I spend all this money on this?
“I’m a businessman at the end of the day, and thought why did I spend all this money and it’s not earning anything?”
In true Mike style, it wasn’t long before he had his new lightbulb moment.
Combining his knowledge of the market with vigorous researching online, the Wheeler Dealers star soon formed a new dealership.
Mike told the Car Dealer Podcast: “I set up with a good friend of mine, James. We found a huge gap in the market.
“We noticed that there were very few van centres in the area and commercial vehicle sales are going through the roof.’
Mike explained how post-Covid he found many tradespeople were looking for new vehicles and wanted something a little different.
Looking to strike while the iron was hot, Mike, his friend, and his ambitious wife Michelle set up One Automotive.
Based in Warwick, Warwickshire, the dealership specialises in selling used vans, which the trio smarten up with body kits and exhaust trims to make them stand out in online listings.
“We wanted to capture a slightly different area of the market – the sort of tradespeople who want to promote their businesses with a different sort of van,” Mike explained.
“These people want a van to show off as well as enjoy it for their business. They want to promote their business through their vehicle.
“So we set about slightly modifying the vans to give them that sort of urban look. And from there, it’s just taken off, we’ve sort of found this niche in the market.”
The new business venture has been so successful, in fact, that Mike has customers travelling from both ends of the country to cast their eye over his stock.
Reflecting on a very successful start to the dealership, Mike admits its crucial to finding a niche market.
He said: “You have to know what works in your area and you won’t know what works until you try it.
“So you have to throw down an eclectic mix of vehicles and find out which ones are working.
“And if you’re selling five Fiestas a week, but one Corsa, then buy Fiestas as that’s where your market is.
“The new business has been phenomenal, I’m not gonna lie. We run a tight ship. We’ve got very good social media and it looks great online.”