Shahrukh Siddiqui began his entrepreneurial journey with a Mexican restaurant in Mobile, Alabama before making the transition to managing Credit America Auto Sales. He embarked on this journey in 2019 alongside his family, aiming to offer customers quality used vehicles and an unparalleled buying experience. “While each industry has its own challenges” he says, “I chose to venture into auto sales because I was looking for something new.” It may not have been a straight path to auto sales, but the one constant across Shahrukh’s businesses was Padgett.
Shahrukh began his relationship with Saty Putcha, owner of Padgett Mobile, nearly 25 years ago when he was establishing his restaurant in 2010. “Saty and I actually met through playing tennis together” he recalls, “Padgett helped me form the LLC, start the business, and fill out all the paperwork. They handled my payroll, corporation tax returns, and personal tax returns as well.” When he made the move to Credit America Auto Sales, he knew he needed to continue to work with Saty and Padgett Mobile. “It’s a cash intensive business” Shahrukh explains, so finding the right partner to handle his finances was crucial.
Shahrukh admitted that the early years of a business are never easy. He was committed to providing his customers with top-notch quality and service. Whether it was assembling a dependable human resources team or ensuring that the right personnel were in place for thorough vehicle inspections, it proved to be a formidable task. That’s why continuing his relationship with Padgett felt so important. He had developed trust and a strong rapport with Saty. He emphasizes that even though Padgett serves other clients, “I still feel a personal connection with them. The team is very personable, and I value our one-on-one discussions about my business.”
While Shahrukh has found reliability and consistency with Padgett, the journey as a small business owner hasn’t always been easy. For the first five years of running Credit America Auto Sales, he sometimes felt like he wouldn’t succeed. He spent up to 14 hours a day at work and hardly took any time off making sure his business was moving forward. His advice to other small business owners is to “keep your expenses low and, in the car business, don’t overpay for your car. Make your money when you buy the car, not when you sell the car.” He adds, “Pay attention to the interest rate you’re paying. While some interest rates may seem low, pay attention to the fees as well.”
With Padgett at his side, Shahrukh can shift his focus from managing finances to being a strong business owner. “Padgett frees up my time to do what I like, which is buying and selling cars. Otherwise, I would be spending my time keeping my books straight if I did not have them helping me. They’re just a great bunch of people. They go above and beyond to take care of me and my business.”
Whether you’re looking to start an LLC like Shahrukh or are looking for a reliable financial partner, Padgett’s team of experts can help you through it all. Find your local Padgett office today to get started!