Ok... I want some opinions.. I have some money that I can't hang on to. I've always dreamed of having a company of my own and I now have the oppertunity to be a 1/4 investor in a very promising shop. It's 10,000 Sq feet + and has 3 shops. One is a Body/Paint shop which is in the process of contracting to be a direct repair facility for Progressive (Or a similar ins. company) another shop is a Custom Bike shop... Harleys Rockets.. you name it.. And there is the car shop. Repair, custom, whatever.. (Same place I get my work done.)



I'm 28. Have a full time job. Just paid off the FD, so I'm car paymentless.. My investment # is 25K. Not a big deal. I've looked into the risks and there are far more good possibilities than risks..



What do you think? 1/4 owner of a awesome shop (Ran in gumball past 2 years and plan on it again) have access to whatever I need. Can master building rx7s (As that is much of the business in the car shop) and learn the business trade and possibly move on to one of my own one day...



Discuss.

 

hmm neat. are they profitable? good rep? can you look at their books? how many people work there? are they hiring?

 

If it sounds promising then I would go with it. It's quite an opportunity.

 

Profitable yes.



Books are available for review. Have seen much of it but not all.



Staff is still being put together. 6 so far in the car shop. The body and cycle shops are being worked.



Hiring yes.

 

can you afford to loose your money?

 

Yes, although I don't *think* I will. I should actually make money on this one.. First year will be interesting, but I honestly think that this might be the thing I don't want to pass up. Main road access (GREAT visibility) plenty of parking...

 

Which shop is this Justin? I think if you have money and like this kind of business, which I know you do , I say go for it. In order to make it big, there are alwyas risks.



Now, if you do this, Let's talk discounts

 

Tough call. The first business;s to go south when the economy takes a downfall is the "custom" shops. It is VERY hard to turn a profit doing customizing and restoration. Insurance work is another storey, the Ins. Co's are always riding your *** to take another short-cut to get it out faster/cheaper/ The customers staisfaction is NOT their Priority. Guess who gets caught in the middle: The Shop Owner/Manager



With 4 owners:

1. Who has the final say; you will never all agree on the same thing all the time.

2. How is the business set-up? Corp or Partnership?

3. What are the monthly overhead costs? Is PROPER insurance in place? What is the claimm rate.

4. Environmental Concerns: IS everything being done by the book? Hazardous Materials collection and disposal, VOC compliance for the paint shp, previous HAZMAT on the property from previous owners.



Check all that stuff out before you fork the $$$$ over. John

 

True that the rear bumper on my 7 was never replaced and just "re-aligned" wich they never did....so it looks like the Bonneville did the realigning FOR the shop...

 

I say go for it.