Okay, so, I've put my ducks in a row, corresponded with my friend and here's what we've found.
A small, two bay garage (with paint booth!) a little ways out of town for ~$250 a month. It's a little ways off the road, lots of room for parking, and its in the country, so tuning motors, air compressors, or really awesome air guitar won't bother too many people.
Going back to a previous discussion, we were wanting to do easy stuff, brake jobs, oil changes, tire rotations, maybe even washing and detailing. I'm under the impression that if I'm working on anyone else's car, I'm gonna want insurance. Mostly we're interested in this place as a way to work on our own stuff out of the weather, and maybe make some cabbage on the side as well.
We're planning on looking at this place this weekend, but we're not exactly in the market to rent right now, so I'm not sure how the guy will take us kicking his tires so to speak, if we might not be able to rent it for six months.
I know I read something on here a little bit ago about renting a garage, and theoretically, all I'd need to stay ahead is enough outside business to keep the doors open, since I'm doing this part time, and keeping my full time job.
Rambling? Yes, and I'm glad I wasted your time.
Don't forget your utilities.
To make $250/mo, you are going to have to do more then oil changes and tire rotations. Those are lost leaders. Brake jobs, eh. With everyone bitching how they can get their junk at Retread Auto for $XX.XX, why are you $YY.YY plus your labor charge? Gets old fast. Personally, I would be in a specialty area, such as transmissions, Neon/PT/Stratus water pumps, Honda timing belts, etc to be the bread and butter. That way you only have to do one or two of them to keep the door open.
Insurance while "mandated", at this stage, I wouldn't worry about it. JMO.
wrenching for profit would require a business license and proper zoning. better check it out before you get to far. Keep it cash and quiet. Make sure your stuff is insured, home owners my not cover it.
In reply to Gearheadotaku:
In KY, easy peasy on a LLC. Simple one page form from the Sec of State and like $25, maybe 40.
Zoning? Outside of the cities with nothing else to do, there isn't any really. Plus if it already has possibly been used as a body shop, it should be zoned either light industrial or commerical.
Yeah I was intending on keeping it on the DL, as far as advertising, waiting rooms, etc. I was also thinking of doing a "you buy you oil, I'll change it for 12 bucks" or whatever. Basicly, they go out and buy their oil, brake pads, etc and I install.
My buddy is also big into car audio and has built a bit of a reputation around here as the go-to guy for box building, box tuning, etc etc. We'd be doing some of that as well, although most of it is greek to me.
$250 a month between two people?
That is pretty inexpensive compared to what I see around here. If I had that option in town, I'd buy into it for my own personal use.
Well, its actually 300 I think, but his uncle is good friends with the owner, so he thinks we can get 250, split down the middle would be 125.50 apiece, before utilities. I don't need another bill, but as long as I can earn that much from it profit in a month I can probably justify it for the wife.
Just got off the phone, here's what I found out.
30x30, ten foot ceiling. No lift, but it already has an air compressor. Two bays, flat white painted cinder block building. Has some sort of outbuilding that is included in the rent. It's been forever since I've looked it, I did kinda by accident when it had a for rent sign out from a couple of years ago. I thought it was for the trailer next door, when it was actually for the building.
Trying to not get too excited, because I know SWMBO will not like to hear about it.
Also do auto detail , pinstripe, dismantle cars /junk cars one at a time CL all parts check under back seats for coins , sell boiled peanuts cajun and regular . Bikini car wash on saturdays
BoostedBrandon wrote:
Yeah I was intending on keeping it on the DL, as far as advertising, waiting rooms, etc. I was also thinking of doing a "you buy you oil, I'll change it for 12 bucks" or whatever. Basicly, they go out and buy their oil, brake pads, etc and I install.
My buddy is also big into car audio and has built a bit of a reputation around here as the go-to guy for box building, box tuning, etc etc. We'd be doing some of that as well, although most of it is greek to me.
from what I've seen, you can make a lot of profit from just doing headlist restorations. Go buy the Crystal View pack from walmart for $16 and charge $50 for it.
I rent a slightly larger garage for 220 a month. I find stripping a car every other month tends to pay the rent
Hell, I cant finding a place to rent for less than $500. I would do it if I were you. If you're worried about the expense take on a third partner. thats less than $90 a person. Or make it available to friends or the community for a an hourly or daily fee. That will bite off some of the cost as long as they dont take up too much space.
SWMBO does not like the idea. I'm hoping to knock a bill or two out with our tax return. I still need to take a snapshot of our financial situation. Debts, paychecks etc to see if I can actually afford this. Partner went and looked at it this weekend and he really liked it, guy tried to get him to rent the trailer next to the garage. He's firm on the $300/month price.
Thanks for the input, guys!
