If you love bikes and want to turn your passion into your monthly income, why don’t you consider buying and selling used motorcycles? The first objection that may come to mind is this “But can I really make money doing that?” While the answer to your question may not be as simple as you would like it to be, we have created this guide for you to understand the work that will be required, and the right steps to take. Remember, there are no shortcuts to success so be consistent in what you do and put your heart into your work.

Read this guide to discover if you can make money by selling used motorcycles. The truth is, you can make money doing almost anything as long as you use your mind is sharp, you make the right decisions, can adapt to curveballs and you consistently put in the necessary effort.

In the age of the internet and information, there are many people looking to the online marketplace to make an additional income. Thanks to the online marketplace, with the right guidance and effort, it is possible to turn your enthusiasm into money in your bank account.

Take a look at the following tips to start buying and selling used motorcycles:

1. Get Educated

Simply being passionate about motorcycles is not enough. You need to learn more about the business. The most important question to ask yourself is this; “What do I know about motorcycles?” and then “What do I still have to learn about motorcycles?”

In order to learn more, you need to communicate with people who are already in business. You can visit storefront shops and ask them specific questions about mistakes to avoid and other tips for success.

If there are no nearby physical locations you can ask it, then research some online resellers and see what you can learn from the websites. What questions do they ask and what information do they need before they buy bikes to be resold? Check out forums on bikes, blogs, and other online resources. In the age of information technology, there really is no excuse for ignorance.

Before you dive into a new business, you should educate yourself on everything there is to know about it. While this won’t guarantee you success, it will help to avoid common mistakes and guide you on your road to financial freedom.

2. Find the Right Starter

Now that you are educated about the theory, you need to begin with the practical. So, now it is time to buy your first motorcycle. But, how?

There are many ways to find one. You can start by looking online on websites like eBay, in classified ads in a newspaper or even on a local buy and sell groups on your social media network. Obviously, you will be looking for a cheap bike but be careful if a deal looks too good to be true because it usually is. Also, buy a bike that you are experienced with, or at the very least have a decent about of knowledge about. Before you buy the bike, be sure to check the trade in value as this is a guide for how you will be able to resell the bike for or if the current seller is asking too much for it. And most importantly, don’t rush into buying. Buy a decent motorcycle that is in demand. You can check an inventory of used motorcycles and find a sought after a bike that you will be able to resell without a problem.

What are Good Starter Bikes?

Firstly, you need to have some working knowledge of the motorcycle. That being said, lower end Harleys are generally a profitable choice. Or, do some market research and see what type of bikes are popular in your area. It is important that the bike does not have any major repairs needed unless this is exactly the type of project you are interested in. Always request to take the bike on a test drive before you purchase it.

3. Buy the Bike

Once you have found the right starter motorcycle, you need to purchase it. Naturally, the price will be up for some negotiation and it goes without saying that you want to pay the least amount possible so that you can make the most profit. If the bike is already at a decent price and the seller feels no need to further reduce it, then make the purchase without too much haggling. Because at the end of the day, you want to pay a fair price as you would want to be paid when you sell it as well.

4. Getting the Motorcycle Ready for Resale

Okay, so you have the motorcycle in possession. Now it is time to get it ready to make you a profit. The work the motorcycle needs will depend on what condition the motorcycle is in. If you are lucky, the bike won’t need much more than a wash and a polish. However, sometimes they will need some extra work put in. If you do not know anything about fixing bikes then it is imperative that you get the bike to a professional before attempting any backyard mechanic antics. However, chances are that you are in this business precisely because you know a thing or two about motorcycle mechanics.

At the end of the day, you want to make sure that the bike is more attractive than when you purchased it so that you can sell the bike for a profit. When you are talking with potential buyers, it is important that you are upfront with all the details of the motorcycle such as previous owners, history and maintenance. In this way, buyers will trust you and you will begin making a name for yourself as a trustworthy connection for those looking to purchase a motorcycle.

5. Time to Sell

Right, now your motorcycle is shiny and ready for buyers- how do you get people interested? Well, you can use similar channels to the ones you used when looking for it in the first place. Place ads on Craigslist or any other online marketplace popular in your area. There are many free websites set up for those looking for used cars and motorcycles.

Place it up on as many websites or social media pages as you like. You will be most likely inundated with ‘interested’ buyers but remember, not all of these will be serious about purchasing for the price you are selling.

At the end of the day, you need to be smart in the way you handle your new business. You need to train yourself to identify the best motorcycle deals and be able to spot the difference between a gem and a dud. As you begin learning more about the business and finding the perfect motorcycles to resell, you could begin to earn a decent profit.

____________________________________________________________________________