Jump to content

Recommended Posts

is this the opportunity of a lifetime or a nightmare?


A little backround on my shop, we are a small operation currently leasing a 2400sqft two bay shop with two techs (father and brother) and im in the office running the business as well as turning wrenches.


For the first few years the business grew aggresively but in the past two 2 years it seems to have hit a rough spot we are barely making enough to cover the bills and everyones salary. For the longest i have been loosing sleep trying to figure out how to make this place profitable again and then some.


Every time brain storm it i come to the same conclusion LOCATION!

We find ourselves hidden away in a business park surrounded by a few different companies (that we do work for) but no real exposure to a main road.


Today i found myself smiling knowing that maybe enduring all these hard times would come with a reward some day, and it looks to be like it has and it was in front of my face this whole time..


it is a former gas station that has been shut down for a few years now and in the past yr had all pumps and underground fuel storage tanks removed,

with 1176 sq.ft. three bay work space plus additional covered work area where pumps used to be in addition it also has a 500sq ft waiting area. it is situated on a corner lot of two major intersections and just a block from a major hwy, so i start researching car count and it looks to be at least 40,000 cars drive by it daily!!!


So my blood gets pumping being the entrepreneur that i am i start to see the immense potential of this location/"service center" im thinking State Inspection station, tire services, brake service and just all the easy stuff that can draw in customers.


But then comes the realization that something like this just won't be handed to me it'll def. come with a huge price tag, so i speak to my current broker tell them i am incredibly interested in this place and need to know what it will cost to get me in there!

Mind you there were no For Sale/For Lease signage so i was semi discouraged at this point.


So i get a call back from my broker......turns out he's very familiar with the owner of the property and has informed him he needs to get north of $350,000.00 for it.

As i try to let this sink in im overcome with both excitement and surprise as i was fully expecting a property like this to go for $1.5million easily


so as i get down from this high i wanted to get everyones thoughts on this and think logically is this a good move?!?

i know what the potential is and i can get all the business plan in order and know what we need to do to be able to make a profit.

that being said one of the things i would need to do would be get a loan. which i am not big on(thanks dave ramsey). but i have no where near $300k in the bank.


My broker informed me that he knows a few local small bank owners that work hand in hang with small business that are very friendly when it comes to handing out these types of loans.


so is this the opportunity of a lifetime or a nightmare?





Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Similar Forum Topics

    • Seeking/open to Partnership for Repair Shop Planning

      Hey All, My name is Karla, I had previously owned a 3-bay mechanical repair shop in Burlington, VT for 6 years and built it to maintain an outstanding reputation and provide a comfortable income. I had the opportunity to sell my half of the business and finalized that deal this past fall. I have worked in all areas of the auto repair industry over the past 15 years, graduated from a two-year ASE certified auto tech program and went on to earn my Bachelor’s in business and a masters degree in executive leadership.  I have some capital I will be contributing to the planning and opening of a new shop and am very open to meeting potential partners/investors in all areas of the country. I greatly look forward to building something new in a location new to me. Anyway, I’d like to welcome all /any interest and to answer any questions about joining forces in shop planning and management. Please do not hesitate to contact me, thanks for considering! —Karla

      By KDshopNEA, in Automotive Business Opportunities

      • 2 replies
    • Goodyear exiting the repair business

      It seems that Goodyear corporate stores are changing their business model from Tire and Repair Service centers to strictly tires.   The franchise stores are free to continue their old business model.    Around here, the corporate stores are going to close down on January 27 for 2-3 weeks for a major remodel and possibly? rebranding.   They will sell tires and do alignments, but will not be able to align if they need repair parts.   I've not seen any official statements on this, so I don't really know more than the scuttlebutt. It looks like Hunter will have a great year this year as a result.  I saw a brand new Hunter Revolution tire machine in one of the local stores already. I stand to benefit from this change as we may see some of their repair business.   Since I don't sell tires, I'm not a Goodyear competitor, which allows them to safely refer repair business to us.   Almost everyone else around here sells tires.   We refer quite a few folks to tire-only stores, so Goodyear will now be on my referral list.

      By bantar, in General Automotive Discussion

      • 0 replies
    • Killer Holiday Tip for your repair shop

      Here's a tip I have posted before, but it's worth repeating.  One job that goes unnoticed most of the year is the job of the part's driver.  You get part deliveries all day long, every day, all year long.  Many times, these part's drivers take all the abuse due to wrong parts, the parts took too long to be delivered, on and on and on.  Those drivers may not say anything, but they take it to heart.  So, here's what you are going to do.  Buy small gifts, such as small boxes of candy or chocolate.  Nothing expensive.  During the holidays, give all the drivers one of these small gifts and say "Thank you, I appreciated what you do." Two things will happen. First, the driver will be stunned and will not know what to say, and they will be very thankful that you thought of them.  The second thing that will happen is this:  The very next time those part drivers have three delivers to make at three different shops, what shop do you think they will want to go to first?  Yes...Yours!  

      By Joe Marconi, in Joe’s Business Tips For Shop Owners

      • 2 replies
    • identafix direct shop migrate

      hello everyone just started here .i just got signup with identafix and direct shop i need to migrate my mitchell teamwork to identafix direct shop.the sales person at identafix lied to me he said they can migrate it .then i find out they want 600.00 they are out of there minds lol

      By r & l auto service, in Auto Repair Shop Management Help? Post Here!

      • 0 replies
    • Free Simple Shop Management Software

      Hey Everyone, I'm Ricardo from Complete Auto Reports.  You may have heard about the shop management software that we made at a shop in Linden NJ.  We've been really busy over the last year trying to refine the process at a shop through the software.  We have come up with something we think that people can and will benefit from.  We want to start with smaller auto repair facilities who are looking for something to transition out of paper and pen, as well as word documents and/or excel spreadsheets.   We've taken our software and made a free package that allows the following from any device with a updated and functional browser: Take appointments from your customers Digital Vehicle Inspections - Included in every service request and sent to each customer if performed Workflow - Pending, Under Process, Awaiting Approval, Approval Completed, Work In Progress, Completed Ratings - Customers can communicate ratings directly to you Messages - You can communicate with customers through the platform Customer App - All service history available, can schedule appointments with the app, transfer vehicle records to new owners Sales Reports 100% mobile - Works on everything from your 5inch iPhone to your desktop.  You can presently upload all of your customer information: name, address, phone numbers, email. Paid for versions offer parts ordering through PartsTech.com and Employeement modules that track employee time on jobs. Are there members here who are interested in trying the free platform to see if it's a fit for their business? Anyone interested in the paid for versions, can also get 60 days of free use and discounted rates available from our SEMA promotions.

      By CAR_AutoReports, in Management Software, Web Sites & Internet

      • 4 replies
  • AutoShopOwner Sponsors