ncsvoboda7

So I am moving away from the automotive industry and will be staring a mobile heavy diesel repair and service business.

 

Does anyone have any good contacts or know of any forums that would be of benefit to me to get some mentoring and some advice from the pros?

 

Thanks in advance!

Hey guys so I am working towards sitting down with an attorney and writing up a partnership agreement with my business partner, but I first need to sit down and talk everything out with him. Attached you will find a worksheet that directs us through a few of the considerations before we see the attorney.

 

I would really appreciate it if you could take a quick look at the worksheet and see if its missing anything in regards to an automotive shop partnership.

 

In return for your help feel free to download and keep a copy of this worksheet, and the new one if we find anything to change.

 

Thanks!

Partnership Worksheet.doc

And please post, please comment and give us all the wisdom and advice you can spare thanks!

I want to invite you all to follow me through the process as I blog my expansion and partnership. Follow us at https://www.facebook.com/groups/498885236930554/

I would agree although it hurts to think about, but I just pray for the wisdom to be able to make it all work out.

Here was the bottom line for me. I did not need what the other partner brought to the table but "I thought I needed it". The partnership was my way of dealing with my own lack of experience and my own uncertainty.

Well said and I guess maybe that could be the case for me too but I guess I will never know until I'm a few years down the road with this.

If you cannot agree what happens then? In my opinion 50/50 is the worst because no one is in control.

It definitely takes the most discipline and I think that is why people dont like partnerships, people partner just to partner and not because they need what the other partner can bring to the table. You simply have to learn how to compromise for a greater benefit in the end.

You have mechanisms that determine how to treat a stalemate in a decision.

So say we have a partnership that is properly formed do you guys see pros or just cons in a partnership?

Ya I'm nor blindly trusting an attorney I have a lot of experience and a college degree in business so I am also going over everything with a fine tooth comb.

Also if your corporation is set up so that everyone is 50/50 owner of the shares of the business all decisions have to be passed through both owners not just one!

I'm not asking after I'm working on forming the partnership as we speak and yes that is exactly what I'm doing, paying big money to an attorney to set up a legit partnership that spells everything out before hand.

Ya but this all can be solved by simply writing it all out and agreeing on it before hand.

Exactly my point that is how I am going about it and we have had no problems so far.

So I am entering a partnership and have found there is a horrible stigma out there about partnerships. Just wanted to get some input from your own experiences good and bad? Why have you had good or bad luck with a partnership?

What are some pros and cons of having the service advisor for the shop also take the role of receptionsit/secretary, I am looking to hire a service advisor that could also take the place of our receptionist answering phones, checking customers out, keeping our side of the books and then of course writing services.

 

Pros and cons of having this one position???

Ok I posted yesterday about this and if anyone is interested in following me through the startup and growth of my own auto shop please follow my blogging at the facebook page: https://www.facebook.com/groups/498885236930554/

Ok I have a blog setup if you would like to follow I think I have it setup so it automatically gets emailed to you, just pm me your email and I will add you to the list this goes for anyone.

The goal would be for me to not only have a place to keep all my notes about what worked and didn't work but for all of you seasoned, successful veterans to also interject your own wisdom and help.

The goal would be for me to not only have a place to keep all my notes about what worked and didn't work but for all of you seasoned, successful veterans to also interject your own wisdom and help.

So its finally happening, I've found a business partner and we are hitting th e ground a week from today.

 

Idk how many of you have been on reddit before but they have a section of the forum for business startups to essentially blog each day throughout the process. I am curious is there a place for that on this forum? Would anyone be interested in following me as I go through the process??

Ya from the sounds of it the previous guy didn't really have a good vision for the business. He started selling cars and then was not super into the mechanic side and I have heard he simply didn't want to show up sometimes. I guess the only thing I was worried about was the landlord saying that location could only handle a $50-60/hr labor rate because our business plan is built around roughly $80/hr.

But I think we are easily accessible for our clientele we are targeting.

Well he wasn't necessarily dissuading me but just telling me that we could only hold about a $50-60 labor rate. But that is because the previous shop was targeting that local area which we are not. We are targeting the higher income earners but it just so happens they dont live in the very close vicinity.

Our new location is by no means off the beaten path, it is on a street with 12k traffic count and then a main highway with over 80k traffic count and an exit for easy access. I guess my main question is more the median income around us is not exactly our clientele and that's what I'm wondering about...