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Debating Opening 2 Bay Shop, Solo Operation


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)Here's the situation, and if there is anything else you'd like to know I'd be glad to offer up any information I have. I'm a 10+ year tech, both automotive and heavy truck/equipment repair. I have a good friend who owns a two bay shop with a large waiting area and office. He has been letting me work out of his building as it is up for lease. He found someone that wants to lease the building to open a second location for his successful used car dealership, but he has no use for the shop portion as he outsources his work. I've been offered to lease the shop portion, 10 of 32 parking spots, and share the waiting room/lounge for $500 per month. One bay has a 9,000lb lift, the other bay an oil change pit. There is already an industrial compressor there, a back room for a desk and storage, a coolant flush machine, differential fill machine, and a trans flush machine. I have as many hand tools as I need to get going, and a Snap On diagnostic scanner. I have yet to get quoted insurance prices, but have researched NYS Registered Repair Shop requirements.

I really think I can make something work with the low overhead, and I am in a position in my life (36, single, no children, no house) that I can scrape by financially while I build things up for a few years. I have good credit. I have a brother and several friends (technicians) who are able to help for minimal cost on an as needed basis, as well as an accountant in the family to take care of that side of things. Ideally the plan would be to get things rolling and as soon as possible fill the oil change pit/pour concrete in preparation for a second lift, as that's where the bottleneck would be I figure. The other benefit is that the used car dealer agreed to allow me to do his work, and he plans on having roughly 20 cars on the lot at any given time. I also have another used car dealer who brings me his work, roughly 3 cars per week. I live in an area where there is not a ton of money, as in a high percentage of people drive 10yr old or so cars.

Any advice? I really want to make a go of this but I am doing as much research as I can to be as educated as I can before pulling the trigger. I appreciate anything you might be able to add, and I am reading through many posts as it is just to garner whatever knowledge I can from those with experience. I should also add I have absolutely no issue working insane amounts of hours (70,80), as I do that already. I have always wanted to work for myself and someday make some money for me instead of making it for others. 

Edited by JBach151
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