Setting up shop

[Mr. Fixit]

Hey guys, this is my first post and it will not be my last.

I know that I am opening up a can of worms, but I am hoping to get some good advise, so take it easy on me.

 

I am working on opening up my shop, I have been scouting some locations and I have a meeting tomorrow with the land owner on what I think will be a good location.

 

I was hoping to get some advise on how I should start up my new business. I have a lot of automotive experience, mainly in dealerships and a Pepboys here and there but I haven't been in the industry for some time, but my love of cars, and that fact I have a lot of family in the business still, I have always been around it.

 

As I am looking to open up in the next moth or so as long as everything goes well.

 

I have been trying to read as much as I can on what I need and should do to be successful, but I wanted to get some of your advise, from people who have been there and done that.

 

Thanks in advance,

[Joe Marconi]

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[CARMandP]

Welcome to the site from one new shop owner to another. Don't be a stranger as you will find a lot of answers from the shop owners that have been around a while.

[Jeff]

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[gravysuckinpig]

hey fixit -

 

welcome and good luck - having gone through this not too long ago - i can say - your probably very exited - DONT let your excitement get in the way of making smart business decisions- it is too easy to jump on something out of fear of waiting too long so you dont loose it - but at the same time - just when you jump on a good deal or a good property something better comes along - i was so excited about every property i looked at i wanted it- thinking back on the ones i passed by - im GREATFULL my partner had the restraint to say "no" to them. now we have a great building at a great rate- once you get the building - start telling everyone you know your opening a shop and to keep your name out there to everyone they know - talk about it to everyone you have a chance to. word of mouth is one of the best and cheapest forms of advertising you can get.

equipment - i would start out making the least expensive investment you can on equipment- not the lifts though- the reason i went that route was to keep my initial investment as low as possible just in case things didnt work out - and dont be naive enough to think your gonna be a success- i bought my trans jack from harbor freight for 199$ - it paid for itself in 2 jobs - i have yet to need a new one but when i do i can now justify making the 800$ investment for a "good" one. if you get my point. dont buy junk , but be reasonable on your startup costs. ive seen alot of people buy the best of everything right away and be closed in 6 months-

does anyone else think rachel ray is hot?

and like joe said - start looking at things from a MANAGMENT perspective - i found out being a tech and moving into the ownership role was a real eye opener. its easy when your an employee to say the company should do this or that - but when it becomes your money your working with and trying to budget, and STILL have enough left to pay yourself - things take on a different perspective - because you know if you dont keep a close eye on it - it will be YOUR 10-15k investment thats lost. i cant stress enough how important that part is. in other words - if you go into this and are not truly worried about things, (income, initial investment , expenses etc.) ....then your not ready. because those worries are what drives a business owner to make good decisions, to step back and think about things, and manage with your brain and calculator instead of your heart. and trust me - your excitment will turn into worry... are you scared yet?

 

GOOD LUCK TO YOU!!

[xrac]

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[GeeZ]

It is very difficult to start any business on a shoe string. Most businesses fail because the lack of capital. If possible, you should have at least 6 month of

operating capital. Remember... location, location, location. When we were looking for rent space, I was amazed at the number of landlords that refused to rent to anything related to car repair. We looked for 6 months before finding something suitable. Try to find someone to mentor you. Someone in the business but not so close to your location that they will feel threatened.

 

Good Luck!