93 R1

So you aren't gonna move back to MD?

Srce

Sounds like a good idea to me, make sure you can beat the others up though. Oh wait, you're huge and in the military, so I'd go for it if I were you.

rfreeman27

Justin,



Dont rule out the possibility of doing a shop in MD. There arent many GOOD shops around here. I bet you could do very well if you offered diverse services...

9BASE3

I still plan on moving back.. I just wanted to entertain the option.. I travel all the time anyway so being part of something here and living in MD wouldn't really be too big of a deal.

9BASE3

Thanks for the reply Banzai. Most of that I've covered... Just the EPA thing.. The building is rented and from what I understand the building owner *is* taking up that.. But I still need to look into it more.

twstdmtl

Bonzai raised some very good points.





My friend bought a comic book / RPG shop and he had an accountant buddy look at the books. Different type of shop but still he believed in something enough to throw down the kids college money.



Not to focus on negative but just think about a couple of things Bonzai brought up. If it is a corporation how are issues handled or voted on? How many votes will you have if it is proxy based? If it is a partership what is the ownership and profit split?

And the two potentially most costly aspects: proper insurance/bonding and environmental concerns. Infractions in these two areas can cost you big time. There is a junkyard here in KY that the family that owns it is going out of business cause they are getting fined DAILY for environmental problems. And the bonding issue... People think litigation is a job now and sue for the silliest crap.



Now for the good stuff... A dream realized is a great thing! You could make a reputation for yourself as the rotary guru and we would not ask for discounts cause we want you to survive these tender years. We could also send business your way. Good luck man

Jims5543

If it will not hurt you to loose the money then I say go for it.



The body shop portion linked to the ins. company is a win win.



Everybody wants a custom bike. I am amazed at how many custom choppers there are on the road here. It is a hot trend take it for a ride. It looks like it is going to last a while too.





I say go for it.

banzaitoyota

On a positive note:



The most successful people in a community as a group are the small businees owners.



A couple other things to consider:

1. Do you have any businees related education? Your local Tech College can be a big help here.

2. Does a Business Plan exist? are the current owners/ppartners willing to draft one BEFORE you fork over the $$$$$.

3. SCORE: They are very helpful, listen to them. http://www.score.org/

4. What does the BBB have to say about this enterprise? Are they members?

5. You said its LEased PRoperty. How long is the lease for? Any strange clauses in it?

9BASE3

Thanks for the feedback!



As far as decision making goes, it's most hands raised wins pretty much. We all know eachother pretty well and understand the needs of the shop. I would rather leave most of the decision making to the 2 that ran the shop before. They know how to make it work. One of the guys owned one of the very successful clubs in STL and still owns a R&B recording studio that does very well. He has yet to make a bad investment.. Not that I'm just going on his past, but he has a good eye for the stuff.



Profit (remaining) is split equally. 4 ways after bills, salary and other expenses are paid. There are 2 seperate investors at the cycle and body shops which get a seperate % from their shop profits..



This is new to me, but I'm extremely interested. I'd rather take the chance now (Not blind, but you know what I mean) and be able to fix it at a younger age if it doesn't work, than sit around watching oppertunity pass by.



It's only 20K. I can afford to **** that up. Won't be happy about it, but I'm in a decent finantial situation as of now.. and I could fix it without harm to my belongings or credit



The others agreed (to contract) that this goes 4 even ways. Profit or loss. That's fair to me.



I just have this feeling (Like I did with Quiznos) that this will be a great thing. May not make me rich, but to me rich isn't happy. Doing what I love is. It may be part time, full time, or I may even get out later if it's not for me... But I don't want to spend my whole life saying "what if"..



I don't really thing this will ever be on the discovery channel, or in SCC mag, but it's a chance to learn the ropes of business..



I'll do everything I can to look into all the topics you guys brought up and I'll let you know what I find.



Maybe someone would even like to look at the business plan? I could fax it



Thanks again guys. The support is appreciated!

FD3S DRIFT

sounds like a good oppurtunity but as everyone else is saying look into it .