In reply to Hungary Bill:
It just means you need to spend all the money every year. Nothing says you can't take a million dollar a year salary, colleges pull that stunt all the time.
In reply to Hungary Bill:
It just means you need to spend all the money every year. Nothing says you can't take a million dollar a year salary, colleges pull that stunt all the time.
In reply to glueguy: You're right of course... lots and lots of potential issues and problems, but nothing that isn't manageable or resolvable. I figure the worst case scenario (other than someone killing/maiming themselves) is that someone with absolutely no experience shows up and wants to work on their car to save money. Those folks should be pretty obvious pretty quickly and turned away.
BTW...
Hungary Bill wrote:darkbuddha wrote: To be honest, my interest would be to run it as a non-profit, truly hobbyist/enthusiast focused.Hmmmm, "non-profit" automotive hobby shop?I may have to win the lottery first.
Yep, non-profit. No reason it can't pay a couple employees a decent wage (to run, maintain, organize, etc.), but I wouldn't expect it to be some money maker. And about winning the lottery... I actually find myself thinking of lots of non-profit ideas for how I would use it. I'm clearly a bad business guy.
BTW, while I say non-profit, do not confuse that to mean free. Costs would have to be covered, ideally subsidized by donors, funds drives, etc.
oldtin wrote: I've wondered if a club or membership program might be a way to at least partially work through some of the liability stuff. From a business perspective, going up market tends to deliver better margins than the downmarket cheapskates like myself - maybe more like storage for people's toys - track prep, basic maintenance, delivery and pick-up of said toys... It would basically be a real estate/warehouse business with a club room and maintenance as a add-on profit maker.
Then you also need to think about theft/fire loss.
A friend of mine runs a pilot's club - has plane rentals, instruction, simulators, av fuel at discount rates, clubhouse space and storage space. He built it up in his spare time. Some time this year he's quitting his airline pilot gig to do this full time.
Now, going to about any mini storage facility, there are quite a few cars tucked away - so there's definitely a market for car storage - it's just getting the business model dialed in for the balance between sustainability, liability/risk and profitable market segment. For the ones that appear to be making it work - it's upscale, only a couple accommodate limited DIY, near major metro areas/high income areas
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