how Imran Ahmed Optimized His Floor Plan To Support His Business Goals

Back to Case Studies

When Imran Ahmed decided to open A.I. Monroe Auto Sales in 2014, he initially decided to use his own capital because he hadn’t heard positive things about floor planning. “Everything I had heard about floor plans before getting one was all negative including things like longer turn times and hidden fees, but I think that’s because some dealers don’t know how to manage them correctly. For example, before I started using a floor plan it only took me a couple days to sell a vehicle but that’s because I was selling cheaper vehicles that were usually priced $3,000 or less and those always sell quickly. It may take me a week or two to sell a vehicle now but that’s because I’m selling better quality, higher-end inventory.”

While Ahmed says he knows this now, it took a change in his personal life before deciding to look into floor planning. “After I got engaged, I decided it was a good time to investigate using other sources for funding my inventory because weddings are so expensive. I started by contacting traditional banks in my local area and I soon realized that the only type of business loan they offer car dealers are floor plans. So even though I still had some hesitation, I knew that if I wanted to progress my business, floor planning was the route I was going to have to go. I then contacted Manheim and asked them for advice on where to get the best floor plan for my business goals and that’s when they told me about NextGear Capital.”