bobbyt
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Posts posted by bobbyt
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Thanks Guys for very relevant questions..and advice..
The reason I wanted to quit my job and do my business is.. I have been doing job for 15 years.. basically I have been working for someone else.. making money for someone else from last 15 years.. so why not work for myself..at least I know putting more hours goona make me more money.. not to anyone else.. and I will have my own schedule..
I have zeroed on Gas Station, Auto repair/parts franchise like NAPA, PepBoys etc, or buy running local service shop (no franchise). Franchise is the my least preference..
I did looked at lot of other business too.. and noticed % of profit is more in auto service. and it should be as it is a specialized skilled business. Also in car service working hours are decent, weekends are off etc. and it's not pure retail business like gas station..
Also I do spend some time in my neighborhood service centers and I have never seen one without any cars..I mean they are always busy..
running business before...Yes I do have some experience running a gas station.. worked during my school days..
No business is easy it is true and I get that, but one has to start from somewhere..
"Best advice I can give is before you do anything go out of town to a successful shop and spend a week either working or observing.". I liked this idea a lot.. I am not sure if a online business course will help me..but If I get to spend a week or two on a successful running shop that would be give me first hand experience..
but not sure if any one will let me observe or work in their shop just like that.?
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Hello to everyone from Houston TX.
I need some advice on buying a running auto repair shop..But I am not a car mechanic..
I have a full time computer programmer job from last 15 years.I make decent living. But from a while now I am planing to own my business.
I am ready to quit my job and work full time on the business.
Typically I see if I buy a running shop, I will get 4 weeks of training from existing owner and my plan is to hire the owner as manager from another 3 months to make sure, I get enough time to settle in.
My only concern, without knowledge of cars know/how. can I run business successfully? How would I know what my mechanics are working on, how much time does it take to work on a job ? How do I hire new mechanics etc?
Any advice is highly appreciated!
Best
Bobby
Planning to Buy running auto repair shop..
in New Member's Area
Posted
Hmm interesting numbers... I looked few of these stores on sale at bizbuysell.com and I have seen financial for couple of these.. for example one shop is for sale for 400,000 and SDE is 140,000. This is a good amount even after paying taxes? (these numbers are not exact but very close) I am sure I am missing something..
I am still 6-8 months away from getting into this business.. in mean time as you suggested I will gather/learn everything I can about this industry...and will hire professional for due diligence etc once close to make a deal.
Thanks for your guidance!