Tim's Dealer License Business Opportunity Story
Timothy Putnam: $50,000 per year while attending college
Dear Potential Business Partner,
My name is Timothy Putnam and I want to share with you an amazing experience that started for me when I was still in college and has turned into one of the best business opportunities you are likely to read about in any magazine or hear about from any business broker or franchiser.
How did Tim Putnam know it was such a good idea
While attending The University of New Hampshire and working on a degree that I hoped would one day provide me the opportunity of earning a good living, I came across a business opportunity that provided me with all the money I needed (even before I graduated with my MBA). There I was, a college student in my late twenties, earning a thousand dollars per week part-time buying and selling used cars out of my dorm room!
What Tim Putnam did
What I did was very simple, I bought and sold used cars part-time from my dorm room. Now, selling used cars may sound like the most exciting thing in the world to you or it may be something you would have never considered but bear with me for a moment and you might discover that the road to financial security runs right through this dealer license business opportunity.
How Tim Putnam got involved in this business opportunity
Before I get ahead of myself, let me share my story so you know how I got involved with this dealer license business opportunity. I graduated from Amesbury High School in 1983 and worked as a used car salesman for a car dealership in Boston, MA. I quit that job after two months due to the unscrupulous games that the dealer was playing on his customers. At that point I swore I would never be involved in the used car business again! I immediately got a job as a mason tender and fell in love with the building industry. Over the next eight years I learned the building trades and eventually started my own construction company.
Tim Putnam had dual careers but only one real dream
Being the ambitious entrepreneur that I am, I not only worked construction during the day but I also sold insurance and investments nights and weekends with a company called A.L. Williams, today known as Primerica Financial Services. I admired A.L. Williams' mission, loved its concept and achieved the level of Regional Manager; however selling life insurance is a tough business! It takes a unique personality to sell life insurance door-to-door! However, I totally bought into the idea of Network Marketing and I loved the idea of "Selling the American Dream", a concept that A.L. Williams championed and Primerica carries on today. I met so many people at A.L. Williams who started with nothing and became millionaires. I did well with A.L. Williams but could not take the constant, never ending rejection. I still had the dream of making it big, I just was not sure how I was going to accomplish it.
Tim Putnam was $25,000 in Debt
Do you remember 1990-91? I do....very well. The country was in the middle of a recession and I was $25,000 in debt. Each summer I would make enough money to pay off the credit cards I lived off during the previous winter, only to start the same cycle when the next winter arrived. Working all summer to pay off my winter debt was not making sense to me and at the age of 26 I enrolled at the University of New Hampshire with the dream of eventually entering law school. I was $25,000 in debt and that was a problem because I did not have a job! My plan was to work part-time doing anything so I could keep up with my credit card payments and pay for school at the same time. I was desperate and not sure how I was going to make it but I was determined to make it somehow. As luck would have it, a friend of mine had a used car dealer license and made me an offer I could not refuse. For a few hundred dollars a month, he told me I could use a dealer plate, part of his lot and have access to dealer only auto auctions. Having access to a dealer license allowed me to buy and sell cars and keep all the profits without the expense and hassle of maintaining my own used car dealer license. So I took my last credit card with $3,000 available credit and I bought a 1983 Audi 5000S for $2,6000! Well, I sold that Audi one week later and made a $800 profit!! I could not believe that someone as dumb as me could make that much money in such a short time! I was instantly hooked on the dealer license business opportunity and I never looked back!
$50,000 Profit my First Year....Part Time!
To make a long story short, I made more than $50,000 my first year in the used car business, while I was a full time student. I was totally amazed at the amount of money someone could make buying and selling used cars part time and I continued to do so during the five years I attended the University of New Hampshire. The flexibility this dealer license business opportunity offered was tremendous. I earned my Bachelors degree in Psychology, a Minor in Philosophy and my Masters degree in business while I made a full time income with the used car business. Also, during that first year of buying and selling used cars I thought to myself "What a great business opportunity!" There was no rejection like selling insurance door to door nor a large outlay of capital like building spec houses. I could also work the business around my full time studies. It was during that first year in the used car business I decided to develop this "shared" dealer license concept into a business opportunity and offer it to other people.
Birth of the"Co-op" dealer license business opportunity
To this day I remember sitting in Babcock Hall, the campus dormitory where I was living and thinking "This could be a real cool business opportunity!" Within a year I took over a small used car dealer license in a town called Salisbury, MA and set it up as a "shared" dealer license, the pre curser to the Co-op term I use today. Incidentally, I approached my friend about this idea and tried to partner with him. He said that he did not believe a "shared" dealer license would ever work on a large scale! (Every time I run into him, he just smiles, shakes his head and congratulates me.) So acting alone, I ran an ad in the Boston Globe's business opportunity section and within a few months I had ten people "sharing" a used car dealer license. Over the course of the next few years, I opened up two more used car Co-op dealerships and had over forty people from all over New England as dealer members. Not only was I buying and selling two to three cars a week part time, I also had a full time residual income from all my used car dealer members.
Never Give Up; Never Give In; Never Quit!
So there I was, making tons of money as a full time college student when just a few years earlier I didn't have a pot to pee in or a window to throw it out of. For some reason though, I never gave up, I never gave in and I did not quit, which is the most important message of this little story. Believe me, I was so tempted to quit school and do the business full-time but I made a commitment to myself to finish my dual-degree program and I did just that within five years and debt free! I graduated the University of New Hampshire Magna Cum Laude in 1996 with no student loans and for a graduation present I bought myself a 26' high-tech sail boat. I decided to forgo law school and pursue this business opportuntiy venture full-time. So here I am, eighteen years later still selling the American dream to hundreds of people each year. Yes, I have been involved in a few other business ventures but the dealer license business opportuity will always be my baby, my hill to stand on...because I never give up, I never give in and I will never quit!
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