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Old 07-09-2010, 05:31 PM   #1
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Default a little buisness on the side?

So me and my crew were doing some talking. We are thinking we might start up a little money-maker on the side doing what we do best. Modding/fixing vehicles. Not exactly the kind of thing where we can all quit out day jobs, but hey, its what we like doing. And why not? I have a nice big 3 car garage, very large set of automotive vehicles, my buddy steve is the best auto painter you've ever seen. Its mostly just for kicks when were not working.
The problems:
-who would really want to pay a few random guys to fix their car over a trusted (yet more costly) shop?
-how the hell can we attract business?
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Old 07-09-2010, 06:14 PM   #2
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Default Re: a little buisness on the side?

Market yourself, a lot.

Keep a portfolio of every project you work on to present to clients. You could even get some of the photos blown up professionally to put up around the workshop. Get your work on the internet too. I've seen your work, its great, and it wouldn't be that hard for you guys to spread your wings. One of you will have to take a lead role though for the sake of running this business.

Also check in the area and see if there's anyone else doing what you do. If there is check their prices, if not then your in a better position.
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Old 07-09-2010, 07:42 PM   #3
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Default Re: a little buisness on the side?

Don't just make it a side business, go full time with it. Take a chance on doing something that you all enjoy doing and if you do good work and market yourselves, you'll have lots of business.
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Old 07-09-2010, 08:26 PM   #4
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Default Re: a little buisness on the side?

Quote:
-who would really want to pay a few random guys to fix their car over a trusted (yet more costly) shop?
-how the hell can we attract business?
My advise

1. You'd be shocked who would be willing to do that
2. Do your first few jobs at cost, go around town and be like "well work for cost, if you bring us the right materials we'll do it for free" do this for 4-5 times get the word out.

My Grandpa started his own repair shop when he was 65 he started out doing it for free just doing oil changes, and tires etc. He had a fully equiped shop. He was working for free (he was retired etc) and business just zoomed up and after about 2 months he started charging he hired his first employee 6 months after starting up. Within 3 yrs the local garage had gone out of business and he's now the only shop in town.

He's now 81 yrs old and makes like $4,000 a month doing nothing. (He doesn't charge a lot for work either) his shop employees get paid just as much as they do else where but my Grandpa doesn't make much. His shop is the most popular in his little region and he's always got plenty of business. He could easily make 3x this or even 4x this but he doesn't care for it. In fact the vast majority of that $4,000 he throws back into the community (he has like 18 rental properties he lives off)

Quote:
Don't just make it a side business, go full time with it. Take a chance on doing something that you all enjoy doing and if you do good work and market yourselves, you'll have lots of business.
Don't do this

http://smallbiztrends.com/2008/04/st...ure-rates.html

Within a year 25% of small businesses fail, within 3 years 50%.

I talked to a bar owner who owns a really awesome bar in South Korea and I asked "how was the first year"

He said firs the first 7 months he put money into the bar to keep it running, he got his 1st paycheck on the 8th month the bar finally broke even 23 months into the business...23 months...

Do it part time, if you start finding yourself to busy to keep your day job quit. Because at this point you don't need to work at your Day Job anymore.
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Old 07-09-2010, 10:40 PM   #5
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Default Re: a little buisness on the side?

thanks for the advice folks.. Theres no other independent shops in town, and theres only 2 other commercial ones like Mr. Lube... I guess we'll start small and take things as they come and see how much business we get. Alot of people around town know how we fixed up the Trans Am so I guess thats in our favour. gotta love small towns
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