Selling used vehicles can be a time-consuming business. A newcomer that acts on the vendor’s behalf is Odyssey Coach Sales, which says it delivers a proactive solution that covers all bases in the process
Does selling vehicles via an agent that handles all marketing, viewing and administration appeal? If so, a new name is in the market that claims to do exactly that: Odyssey Coach Sales.
Odyssey is an independent family business, recently founded by established industry name Darren Critchley. It aims to offer a personal service by acting on the seller’s behalf, making the process as simple as possible.
“I envisage the seller and I having two conversations: When I am instructed, and then when I raise an invoice after completion,” he says.
Darren is centrally-based, and much of the country is within four hours’ drive. Part of Odyssey’s package is that he views each vehicle that he is instructed to sell, regardless of distance.
“When I appraise the coach, I take a video of it that is uploaded to YouTube. I have an operator’s background, which means that I can empathise with both the buyer and the seller.”
Multi-channel marketing
Additionally, after Darren has seen the vehicle, pictures, a description and the all-important price are uploaded to his website. Stock is advertised via as many other avenues as possible: Facebook, LinkedIn, routeone Trader, and the trade press.
Darren takes pride in the description being as honest as possible. If an older coach has one or two failed double-glazing units, or if it has some battle scars, that will be listed. But Odyssey is not chasing a market where such ailments are common.
“I’m not selling poorer-quality vehicles,” he says. “Although odd bumps and scrapes are sometimes unavoidable, I focus on the quality end of the market. That’s one of the reasons why I view everything before it is listed; it allows me to appraise it honestly.”
Darren is also proactive in finding new homes for stock that he is instructed on. That entails a similar approach to a new coach salesperson. “I’m on the road. I’m knocking on doors. That’s what I’ve always done and it’s what I know how to do. Odyssey is a coach equivalent of a dating agency. The seller gives me something to work with and I find a suitor for it.”
Financial details
As Odyssey never takes ownership of a vehicle, Darren works on a commission basis.
A small up-front payment (which for six months is half of what it will eventually be) is made, and once the sale is complete, a percentage of the final price is invoiced by Odyssey – less the initial figure.
That arrangement acts as an incentive for Odyssey to generate the best return for the vendor. Finance partners are already in place and Darren is able to put buyers in touch with them.
An additional service that is likely to be valued by some buyers – and a further indicator that Euro 6 compliance for mid-life coaches is becoming a concern – is the potential to offer retrofit solutions.
“I have reached an agreement with a partner that can go back as far as Euro 3 and upgrade to Euro 6 standards,” says Darren.
In those cases, retrofit work will be carried out at the partner’s premises. The buyer has two options for paying for the upgrade: It can be combined with the purchase price, or it can be settled separately.
What’s hot, and…
Although Odyssey is still young, Darren says that market trends are already becoming clear. One concerns 70-seat school coaches. “They are very popular at the moment, but perhaps not understood as well as it may be is that many operators of such coaches will need PSVAR compliance in 2020.
“That could be for school routes that are registered as local services, or as we have seen recently in Lancashire, because the tendering body dictates it.”
That will leave a gap in the market, and Darren is already making plans to fill it. He has identified a source of PSVAR-compliant coaches that are suitable for up-seating; details are not yet finalised, but this is something that will develop through 2018.
What’s included?
Besides full-size coaches, Odyssey sells mini- and midi-sized vehicles, and buses; it currently has a nearly-new Alexander Dennis Enviro400 MMC listed, for example.
“My business model is to take pressure off sellers. I know that larger operators don’t have the time to hold buyers’ hands when they come to see a vehicle, and at smaller companies, managers have many other things to do. It’s about what can I do to make selling easier,” Darren says.
Other added-value aspects include delivery at cost if required, and the offer to meet a potential buyer half-way for viewing. Stock details will soon be circulated weekly to a database of operators, and Odyssey will also offer a ‘find a coach’ service.
“It’s not just about selling. It’s about thinking bigger and offering the complete service,” he concludes.
