Master Car, a Finland-based trade-in car dealership that specializes in imports and additional services, has launched an equity crowdfunding campaign on Invesdor seeking a minimum of €500,000 (max €1 million). Founded in 2014, the company describes itself as a marque-independent used car dealership.
“Our professional import makes us stand out from our competitors. We carry out both mass imports and tailored imports of individual cars directly to our customers. Our range of services also makes our service rather unique in Finland. Our customers can buy an imported car that meets their precise wishes, get financing for the car and sell their old car to Master Car in exchange.”
Master Car also stated that it currently monitors customers’ purchasing trends and react to them quickly. At times, trends change even at the level of individual models, and purchasing behavior is generally guided by price class. The company acquires the kinds of cars that customers want to buy, with pricing from €12,000 to €15,000.
“The gross margin from an individual car is the difference between the sale price and the acquisition price (including any expenses caused by the purchase). The gross margin target of Master Car is approximately €4,000 to €6,000 for imported cars and €3,000 to €4,000 for cars traded in by customers. During the last accounting period, the average gross margin was €5,052 and the average car price €17,033 (turnover of €3.7 m; 220 cars sold).”
All funds from the Invesdor round will be used to continue Master Car’s growth and expansion. So far, the campaign has successfully raised more than €160,000 from nearly 30 investors. It is set to close at the end of March.
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