Car-buying company Car-Ching plans to accelerate expansion plans with a national roll-out, less than a year after starting trading.
The firm established operations in Darlington, Alnwick and Blyth as the first stage of its plans to set up 60 new offices across the UK in the next three years, a move set to create 75 jobs.
The Shiremoor-headquartered business is already looking at opening a further six branches in the first half of this year, both within and outside the North East, as well as recruiting the staff required to run them.
Car-Ching was set up last year by experienced motor industry professional Jason Miller, who runs the business with his wife Niki and who also owns the Overdrive North East car dealership in Morpeth.
As part of the firm’s development, Car-Ching has recruited Doug Lawson, who previously worked as a buyer and mentor with webuyanycar, to help manage operations and develop a car-buying service that is clearly differentiated from the competition.
An initial valuation is provided over the phone or via the company’s website, based on information provided by customers, who then take in their vehicles for a full evaluation.
Home visits can also be arranged if an owner can’t bring a car into a branch, and a lift home is provided if they agree a sale of their car.
The management team is working with RMT Accountants and Business Advisors on the firm’s development, as an extension of Jason Miller’s long-term relationship with the firm through Overdrive North East.
He said: “While we were confident that we’d developed the right business model for Car-Ching, the way it’s taken off has surprised even us.
“The three new branches are already trading strongly, and we’ve got half a dozen further locations in mind where we’re looking to open branches in the next six months that we think have the potential to do just as well.
“Bringing Doug on board adds a huge amount of sector knowledge to our operation, and will help us shape the ways we work to match what customers want.
“Setting ourselves the target of opening 60 branches in the next three years is ambitious and will require a lot of hard work, but we’re convinced there’s a strong market out there for us to develop and have drawn a lot of encouragement from the way things have gone so far.
“Having used RMT as Overdrive North East’s advisors for several years, it made sense to bring them on board for this new business, and their sound advice will be one of the foundations on which we build our future growth.
Greg Bolton, head of corporate finance at RMT, adds: “The Car-Ching team’s motor industry knowledge and clear vision of how they want to operate is already reaping commercial rewards, and it’s exciting to be involved with a concept that has such huge potential for growth.”