Bo Butner funding? (1 Viewer)
- Thread starter JC
- Start date
Percboy
Nitro Member
I`ve wondered that also. The streetview of his business reveals a decent sized "used car lot" . Good money , but enough to fund a 1-2 million dollars operation?
https://goo.gl/maps/ENMxG2Egm5F2
https://goo.gl/maps/ENMxG2Egm5F2
70AARCuda
Nitro Member
Percboy
Nitro Member
You might be on to somethingmmm.... lately he's been sporting that dukes of hazard livery on his Camaro, and weren't they moonshiners ???
Not a huge Summit fan but that was a great "stunt" , the Daisy Dukes made it epic.
https://twitter.com/hashtag/generallee
stitcherbob
Nitro Member
Good, now maybe owners of new Camaros will start painting their cars hideous orange and leave the Chargers alone for us Mopar guys ....
Percboy
Nitro Member
stitcherbob
Nitro Member
got this from a "General Lee fan site"
"The factory's Hemi Orange was tried initially but the crew decided that it didn't look as good on film as it did in person. It looked too dark and too red. So the cars were quickly resprayed with the Corvette orange color early in the Georgia filming.
The rest of the TV series was all done with either the Vette color or something very similar to it.
The movie cars were painted Big Bad Orange from AMC"
so we are blameless in this one
The math of owning a used car dealership is better than most people understand. Typically you are charging AT LEAST 18% interest. And typically your margin on a car, the first time you sell it, is at least 30%. If you can sell 50 cars for $8000 every month and tote an 18% 4 year note starting at around $7500 .... you are gonna be making a killing in a couple of years. It's a very lucrative business.
Monthly on a good dealership:
Car margin: $8,000 x 50 x 30%= $120,000
Note interest (mature dealership): $7,500 x 50% x 2400 x 18%/12 = $135,000
Expenses, aside from car make ready which I've already buried in the margin calculations, are surprisingly low. You want your dealership in the neighborhood of your clients ... not expensive land. Add in servicing the cars for a fair fee and the numbers go wild.
These are not cash flow numbers, cash flow is back loaded a little (that's the cost of making $135k of interest income MONTHLY), but once you get a few years in it cash flows great.
I think Bo can afford his hobby.... this is obviously just a sample of what a hard working used car guy can generate. Ask one of your buddies what his average sale is and how many notes he's holding .... you'll be shocked at what a reasonable margin and 18% to 24% interests accumulates to .... and if the guy is nice all of his clients love him.
Monthly on a good dealership:
Car margin: $8,000 x 50 x 30%= $120,000
Note interest (mature dealership): $7,500 x 50% x 2400 x 18%/12 = $135,000
Expenses, aside from car make ready which I've already buried in the margin calculations, are surprisingly low. You want your dealership in the neighborhood of your clients ... not expensive land. Add in servicing the cars for a fair fee and the numbers go wild.
These are not cash flow numbers, cash flow is back loaded a little (that's the cost of making $135k of interest income MONTHLY), but once you get a few years in it cash flows great.
I think Bo can afford his hobby.... this is obviously just a sample of what a hard working used car guy can generate. Ask one of your buddies what his average sale is and how many notes he's holding .... you'll be shocked at what a reasonable margin and 18% to 24% interests accumulates to .... and if the guy is nice all of his clients love him.
stitcherbob
Nitro Member
We restore antique cars. One of our clients owns a well known automotive programming cable TV channel. Another built Home Depots. Another sold his business to Warren Buffet. But one of our best customers (both as a person and the number of cars he's flooded our shop with) buys and sells used cars.
The amount of money being generated is staggering....he just finished an award winning car and is into a Ferrari resto for 6 figures, and bought a Duesenberg as a new toy http://www.classiccarweekly.net/tag/duesenberg/
At any given time he's got 4 cars in the shop. If you can't get a gig as the host of the Tonight Show, higher end used cars isn't a bad biz
Percboy
Nitro Member
"Jim Butner Auto is estimated to generate $4.7 million in annual revenues"
http://www.buzzfile.com/business/Jim-Butner-Auto-and-Finance-812-944-3101
http://www.buzzfile.com/business/Jim-Butner-Auto-and-Finance-812-944-3101
Justin@NRE
Nitro Member
You can't read to much into a family's wealth based on the most prominently advertised business. And he may have decided as CEO to take any profits from the dealership and put them toward racing to live his pro stock dream, maybe he's been saving cash for a while, maybe he liquidated some assets. Who knows, and is it really any of our business?
As somebody previously mentioned, 30% profit isn't out of the question on used cars, especially if you operate on trades and auctions. Even if you pay your people really well, figure 20% operating margin, that's $940K/year in profit you need to dispose of or give 1/3 or better away to Uncle Sam.
As somebody previously mentioned, 30% profit isn't out of the question on used cars, especially if you operate on trades and auctions. Even if you pay your people really well, figure 20% operating margin, that's $940K/year in profit you need to dispose of or give 1/3 or better away to Uncle Sam.
vegasnitro
Nitro Member
Bo seems like a good dude, but I would much rather talk about Randi Lynn Shipp (aka the real driver in the group) and her sister Kristi Shipp (aka Daisy Duke).
Nick Name
Nitro Member
During the filming of the Dukes", there was a shop on San Fernando Rd. in Sun Valley that had "Hazzard County Sherrifs Dept. painted on the front. The fenced back yard had about 30 Chargers in it. That was where they built the General Lees. Most mornings you could see a car hauler going north on the 5 freeway with about 6 of them. Filming was done behind Magic Mountain. Same for MASH.
Ahhh The memories of The Dukes of Hazzard as a kid, Just like The A-Team, I couldn't wait til the next episode on t.v.
Now with the way technology is today, You can watch them all over again except for...I tried to watch the original Incredible Hulk w/ Bill Bixby and didn't realize how cheezy some of these shows were back in the day..un watchable...LOL. The one that got me was on an episode of Knight Rider where KITT picked up a sample of Nitromethane that a street car was running that they were pursuing.. Amazing how time flies, Close your eyes for a second and the world passes you without hesitation.
Now with the way technology is today, You can watch them all over again except for...I tried to watch the original Incredible Hulk w/ Bill Bixby and didn't realize how cheezy some of these shows were back in the day..un watchable...LOL. The one that got me was on an episode of Knight Rider where KITT picked up a sample of Nitromethane that a street car was running that they were pursuing.. Amazing how time flies, Close your eyes for a second and the world passes you without hesitation.
Nick Name
Nitro Member
There was also a body shop on Magnilia Blvd. in Burbank, that only fixed Knight Rider Firebirds.
glofria
Nitro Member
Not to be a stickler for details, but MASH was filmed at what is now called Malibu Creek State Park.
http://www.malibucreekstatepark.org/MASH.html
