Any business owners here?

The Score mentors are mostly retired business people and others that volunteer to give free consulting about starting a business.

It's possible that some of the folks could be trying to land paid consulting work, but that would be against the score rules. My impression is that most people who are in it are legit.

If you otherwise know of someone who has done this line of work and is retired or who is not a direct competitor, they can give you information about their experience.

imho, get your business plan done before you dive into this. The SBA site has documents that you can read over that will help you complete each step of the business plan.

The phrase "80% failure rate" needs to be burned into your brain. You're riding high on the optimism of starting a new business. That's good. Optimism and enthusiasm will help you succeed. That optimism needs to be tempered with a realistic assessment of risk and problems that you could face. I would slow this down if I were you and make sure you've got everything worked out that you need to have worked out before you start.

Pretty much all of the people who start businesses have the same kind of optimistic expectations that you have now. Just remember that 80% of them fail.

Things look like blue skies now, but blue skies can turn black. It's good to think about all the things that can go right, but you need to be ready for all of the things that can go wrong.

 

I agree completely. 100%. Not sure if I didn't explain right but basically what I'm excited about is the technical side of it taking off. We make enough money to get this warehouse and set it up, hang out, practice, build a few cars (finally get my mustang on a rotisserie) and go from there. Take in some side jobs, small stuff like superchargers, top ends, suspension, brake systems. In other words we want it to be 100% viable before it opens as a legitimate business.

I'd say I have a good business sense, but no experience in running my own. And I know that it's a fine line between failure and success and I have a lot to learn.

But on the other hand I do have common sense and I know my trade. We've been talking about this over and over about not putting the cart before the horse. What we actually are shooting for is having a car or bike in a magazine spread before this business is something we are actually depending on for income. I have a house, two dogs, student loans and other debt, he has child support and a dog and wife. No room for error here, that's why I'd rather keep my job and build it up slowly than take 2 mil off someone that I might not be able to pay back if I jump in too fast.

Thanks for the site I will definitely check it out. I don't mean to sound cynical but those guys are volunteering just because they love business or want to help people? I mean what's in it for them?

 

I guess similar to the fact that people give you advice on-line here, there are folks that have knowledge about business who are willing to share it. My guess is that there are a lot of retired business owner who are willing to pass on advice.

I can't guarantee that 100% of the councilors aren't looking for consulting work, or that their advice will be good. All I can say is that mostly Score seems legit, and the free advice that they offer is worth considering. You can get mentors on-line, and even talk to several people.

 

Spot on. From 420 grow houses to closing mortgages for law firms ; self employment seems to be my niche. Many losses. huge gains. Roll those dice ; hold on tight. Life can be a very wild ride.

 

If you go to www.score.org and click on the mentor link, you can find an email mentor. If you enter "automotive" in the mentor search box, you'll find a list of automotive mentors.

There happens to be a guy there with 15 years experience in running his own production automotive business and who has an MBA. Could probably help.

Even though you are just warming up for your business, doing a business plan now is still a good idea.

 

A mentor is always a good thing, But you need to find one local so they know what they are up against and can advise from there.

IMO, You seem to have a good plan set up to start. I started small at night in a race car shop. Got the car done and would do 1-2 vehicles a night. Go from there, Account for everything including ass wipe so you know you're overhead.

80% fail because they open the same thing the guy across the street is doing along with the guy down the block. To exclude you from the 80%, What do you have to offer and bring to the table that they don't? You have to have a ace in the hole or the upper hand and a fall back option should be in you're plan.

The thing that took a chunk from me, Was getting bonded, State bond, Insurance etc. I take vehicles with 30" tires and build a whole new suspension set up to run up to a 43" tire. The safety in that alone is scary, Not to mention the insurance you have to have to cover such builds.

You're builds are not far from what I do. You replace old brake lines, Box frames, 4 link a rear with panhard or 3 link float. All stuff to consider when you are going to build and put on the road for use. It only takes one lowlife to sue you for what they wanted you to do and you're broke, No business and have to get a job to pay more to said person who sued.

Id do the night and weekend cash only and build up a nest egg. Its a hobby and can be filed under that or work on 'donations' toward the builds. That way you will have a good number to go off of plus a nest egg buffer.
As mentioned though, A business savvy mentor is the way to go. One that knows you're field, The way the economy is going, Where money is being spent automotive wise and go from there.

Good luck, Hope it works out 100% in you're favor

 

It sure beats a 9 to 5 life until the die your retire or die. I rather kill myself than having to conform to that kind of life. Once you tasted freedom, you never want to go back to that prison of expectations and submissiveness.

 

Fair enough, just had to ask because for the most part people don't tend to be altruistic. Now if they are just bored and retired and love business, and as a byproduct can stimulate the economy in their own ways that makes perfect sense. I don't mind paying for a mentor/consultant, I also will keep attorneys on retainer. That is great advice of you, thank you. I just think at this current point it's a few steps down the line. The thing that differs so much about this field rather than something like buying and selling products or services, is I (personally at least) need my shop set up and some things flowing before I even go to the more formal aspects.

Once I see a few thousand TIG arcs in that building on my own free time, swept up piles of metal shavings, burned up a couple hundred angle grinder discs, rolled some beads, become good friends with our english wheel and planishing hammers. Got drunk after 3 am on a friday or saturday night, and been handed at least $10k cash I will go to one of these guys and say alright we need this bigger better building.

This is what we'll do for you but we are setting the terms. It might sound unreasonable or unconventional but that is the only way it's going to work for me. I can't focus on those aspects just yet although I know I will need to. Because I know that the one major failure of a mechanic going into business for himself is he fails on the business side of things. If I were opening a repair shop I wouldn't need this kind of tunnel vision. I did a $3k job on a Lexus today plus $2k on other cars from 9am-7pm with a torn pec muscle, hungover and on muscle relaxers, and still dealing with equipment logistics. That shit is robotic. But when you are talking about a blank canvas and custom fabrication that's a whole new ball game. I need to be able to sit on my creeper seat or pace around and look at the car for as long as I need to without any pressure.

But it's going to happen. We just ordered a plasma cutter today, fuck it. This shit is going to happen, not sure if we are going to make it harder than need be, I just know the work product itself is incredibly hard. Not hard.. it's like zen mediation to me. Just incredibly focused. Once I see a return on the actual aspects that got me into the automobile industry I will be seeking professional help and guidance. As it is now I don't even keep track of my money between my job and side jobs. And I know it has come from my relentless hard work and continuing hard work but I feel very fortunate regardless. Either way I will not it fail because my dogs rely on me, it might sound stupid but they are loyal to me and I'm loyal to them. It would be a cold day in hell I fail to the point of losing everything and can't take care of them.

Thank you very much for this. I sincerely owe you, I really do. I will contact him 'casually' as soon as I can find the calmness and focus to do so.

 

Nice. Lol you might be the only person on HF that can talk to me about 4 links and panhard rods. You know what you are talking about. And I'm not sure where you are, but here in FL it is super simple. We are about to incorporate for $140. Not sure about insurance yet but mainly we are incorporating at this point to set up vendor accounts not active clients. Personal projects for now or cash. Cash is king. I pay $400-500 a week in fed taxes with my day job that's enough for now. Not sure about state bonding but I know shops are regulated by the dept of agriculture here. It's just some simple red tape like a CCW. I'll worry about that and talk to my lawyer friend when it comes, for now it's just a warehouse zoned commercial/residential and it's for personal storage. Right? Right.

I'd like to hear more of what you have to say, as well as E7. Some smart people on these forums.

 

Please don't even think about incorporating before you've got a draft of a business plan or have talked to a mentor. A little bit of good planning now can save you from huge headaches down the road. Rushing in without having done good planning could be fatal for your business.

Starting a business without a good plan is like going to battle without a good plan. Chances are, you'll be slaughtered.

The time to do basic business planning is before you start, not after. This is a bit like watching a train wreck about to happen. Even though you have skills and apparently interested customers, the chances that you at least hit major trouble seem high.

If you are incorporating as a partnership, your chances of trouble are even higher.

I hope that this all works out. Seems like you don't even know how hard you could crash and burn on this though.

I hope you won't fail. I hope that you will be able to take care of your dogs. However, you don't even know how badly you could fuck up. There's a long line of people just as confident as you that they would not fail, but who did, and who ended further up shit's creek than they ever imagined. Spending a few hours talking to a free mentor and thinking about a business plan could save you a lot of agony.

 

I think its important to remember that 80% of businesses fail. However, the definitions of failure differ quite a bit. Sometimes, a business evolves from one area to another. Sometimes a business is a complete disaster and personally bankrupts its own. Sometimes, it causes the owner much wasted time.

But on other ocassions, the business fails, but it costs the owner virtually nothing.

You could argue one key to business is "good up-side, limited downside risk". I tend to agree with that. Some people liquidate a string of companies, then make a fortune with the 10th. Financing/risk management is worth exploring.

On mentoring, a good mentor can be very hard to find. I think the Score people will typically be generalists (assuming they're like the British equivalents). I started with generalist mentors who couldn't really help me much. Then I got friends who were established industry mentors who had lots of money available, but wanted to lighten their workload. Needless to say, these were much more beneficial to me. But this sort of thing requires a bit of "synergy".

I'd say to anyone starting a business, to think of how you can go into it gradually. Can you do it alongside a full time/part time job. Do you have a "fall back" position if the 1st x months are quiet?

I'd also say, don't underestimate how difficult it might be to sell. Lots of people will show enthusiasm, but sometimes the barriers to entry (ie being in a position to sell from a credible/trustworthy position) are just too high for many starting off.

 

I hear what you are saying, but at the same time I'm confused. I have a good friend who's a lawyer and this is what she said when I asked if it's a bad idea to incorporate soon - that we can pick a date in the future as the date of operation and she thinks it's a good idea while setting it up because of liability reasons. And that if the landlord will allow it, sign the lease as a corporation instead of individually.

But as I said it's mostly just to set up business accounts with suppliers for stuff I buy anyway, regardless of if I use it for my own business or an employer.

The only thing that really scares me is what yogi brought up.. getting sued. I mean, I have a savings, my credit is in the high 700s because I never pay anything late, and I have a good job. Really outside of getting sued, what's the worst that can happen? I can work anywhere there are cars, shit people come to me trying to get me to jump ship. Even if I quit my job to go full bore on this and it fails, my current company would hire me back. The principle owner already told me it'd be an open door policy. I think what has happened is skilled trades became not glamorous, too hard, looked down on by society, what have you. Now that so many other markets are saturated with hundreds of thousands of college grads who want that cush job, that basically if you can work with your hands in a skilled fashion you can write your own ticket.

10 years ago I'd get 'oh.. you're a mechanic?' and the tone from there would be condescension.

Now it's 'wow! That is so cool, I wish I knew how to do that stuff.'

So maybe I'm too overconfident or cocky but I don't think so. I put in roughly 50 hours per week and generate my company 40-50 grand per month, with my hands. And of course the most valuable tool in my toolbox, my brain.

So I'm asking seriously, what is the worst that can happen by doing it the way I'm talking about? No real plan, and also not quitting my job or exhausting my savings.. just doing work and building shit for a much bigger cut than I get at my job, and claiming that on taxes for the corporation? Then putting a certain percentage of those earnings into a corporate savings or escrow account and when it reaches the right number.. go all out at that point?

 

It sounds like a good idea to incorporate before starting a business and signing a lease. Even better to do some basic planning before you start your business.

scenario one:

You incorporate as a partnership. You get some clients and start doing some work. You don't really pay attention to the paperwork.

It turns out that your partner is a coke head, and he runs up $8 million dollars worth of bills. You finally find out the kind of financial trouble you're in when suppliers won't sell you anything anymore. You confront your partner, and in retaliation he trashes the shop and your clients cars. Your credit and reputation are ruined. You also get injured on the job, and can no longer work.

In addition, you are audited by the IRS, and owe $1 million in back taxes, and face a 10 year jail term for tax evasion.

scenario two:

You incorporate as a partnership. Somewhere down the road, your partner decides to leave, and takes all of your clients with him. He also claims to have rights to the shop space, company name, and equipment. You end up battling in court to determine who gets what, which costs you thousands of dollars in legal expenses, and drains huge amounts of your time.

I can't tell you all of the things that could go wrong, because I don't know your industry well enough. But I do know that things often go wrong in business. Some of those things are foreseeable, and if you plan well, you can save yourself a lot of trouble.

There is a risk that comes from failure, and there is also a risk that comes from lost opportunities. You face both when you don't plan.

I think you're right in observing that skilled blue collar work has been undervalued by society.

Your skills seem to be in demand, which is great. There is however, no such thing as a blue sky that can't turn black. Shit just happens.

Getting injured is one of the most obvious potential problems. You won't necessarily be able to fall back on other work opportunities if your business fails. Another potential problem is that the economy completely collapses, and there isn't so much demand for your work anymore.

A little bit of planning can go a long way. You don't have to have a final draft of a business plan, just a better map of where you are going and how to get there. Talking a little bit with someone who knows business issues and your industry well could go a long way.

It could be that going about things the way that you are would work out just fine. I think it goes against the conventional wisdom of how you start a business though.

 

My accountant has done more for me than my lawyer but they work together most of the time.

 

I own my own salon. It's only me. I don't want a boss and I don't want employees. I love it. It's honestly my dream job. It was scary as hell when I quit working for someone else. You just have to cross your fingers and jump in with both feet and hope you don't sink. I'm going on almost 3 years and its still the best decision I've ever made. Good luck to everyone wanting to start their own business. May you all succeed.

 

Im in Iowa, So the EPA is/was down my back a lot. Too many guidelines to follow unless you can cheat and get around this or that. I don't recommend that, That sets you up for future problems.

Vendors and sponsors is what will keep you above water. IMO go through you're builds and find what rear axle you used most. Ill say 9" because it has a lot of potential and fits narrow rear to wide and a third member is easy to set up gears in as its out of the car and axle.
Find a company that has a good record, Willing to work with you and help them, Help you in the long run. ECGS is a good one, Its off road, But an axle is an axle, Mounts are the only difference. Im not a fan of C-clip rear axles, But the 8.8 is easy to work with too and will hold higher HP.
Both axles listed, Can go from 4cyl hp up to 600hp with chromo shafts and a couple more splines.

You have to get you're name out there. The more who know the name, They will say if you want a rod, Dv8's are looking pretty good and have herd only good things.... Go to swap meets, Car shows, etc. I know you already do most likely, But be vocal, Be nice and willing to work and take on jobs outside of the box.
IMO, From you're pic's, Id add into the business plan, To make it to SEMA with a car. A good goal that will net $$.

Whats the worst that can happen? How about having all the insurance and then some, Lawyers and a stand alone firm, You're building catches fire. The company will come in and take their sweet time to find where the spark started, Drag their feet with a report, And blow you off because 'all info is still being reviewed'. They have 2 years to pay you for you're loss and that's along time with no work, Tools, Customers items lost etc.

That happened to my uncle and he hired arson investigators to clear it up and it still didn't help. You will be talking about 1 million in tool payout, They will pucker and wait until they have to pay.

Good to hear you have an open door to go back to and id keep up the good relations with them even if you are high on the hog. They will send you work and vice versa and both climb higher.

Make rules for you business and follow them yourself. Keep flammables away from working area. Tool comes out of box, Goes back in at the end of the day. Yes, Tools do walk off amongst friends.
Find one part you lack in and work on it until its a natural reaction. I found the people leaving argon tanks on overnight on the welders was leaking enough that yearly, it was $250 dollars. might not sound like much over a year, But add all those small numbers up and you are looking at a fat bill.

I like to hear the cocky person wanting to expand. But don't be cocky in the business. Its good to have a set of balls and take the plunge, But done carry that over to customers and don't take it out on them or employees/partners.

I felt more comfortable when I had enough to build 1-maybe 2 out of pocket, Free and clear. That way you can call up, Get wheels, Bags, raw metal, you name it and have it ready to build when a customer comes in. I also had them put down a deposit. That way a divorce wont hurt as bad, Or the guy who lost interest or won a scratch off ticket and wanted a car, But could only afford a drivetrain and neglected to tell you that.

With a deposit/retainer that's not refundable, Will soften the blow if you get a deadbeat. Plus you can either finish it and sell it, Take another direction on it for another customer, Or part it out for the projects waiting. Keep as much as you can 'in house'. If you have loans that's always a number, Every month, You have to hit.

Advisors are always good, Financial, Business etc. The more help and advice the better you are. Even bad advice, Has good in it so don't blow anyone off. You can find why they did fail, So you don't take that path. Yes, You will make a million(s), But not over night or in a month. I never felt that vibe from you're posts, But its one thing the 80% had on their mind as they turned the 'open' sign on.

 

Oh man, this post amped me up you're a definite gearhead and sounds like you know your shit about running a shop.

Regulatory wise I'll have the EPA, FL dept of agriculture (they regulate automotive shops), fire marshall and the local code and city council. I'm not too worried about it because I'm OCD in a lot of ways and keep things tight.

Fluids in proper containers and off the floor is a big one for the EPA. Used oil tanks not leaking and in a containment bin, they see that and they are happy everything else is just 'suggestions'. At least that's what I've observed working in other people's shops.

Fires is another good point, that would decimate me. I already have a private policy for my tools, $50k and that still wouldn't cover it but it's better than nothing. Check out pro-tec.

But yeah if anyone leaves a valve on I rip them a new asshole, especially oxy or acetylene. I always close the valves and clear the lines. Also at the end of the day the top of my box and service cart are usually piled up, the floor, benches, all over the place. That's where I'm OCD I take the 30 min to wipe them down and put all in their place so I go in the next morning to a clean slate. When tools start walking I find out who's doing it and eliminate that problem, they're gone. I don't have time for that shit, get the fuck out of my shop that's the way it is now and that's the way it will be with my business.

Believe it or not, never set up a 9", that's what is a big split from everything I know and have been doing, going more old school. I know they're bulletproof and you unbolt the carrier assembly out the front like a toyota, so people like the fact it's easy to change ratios.

8.8's I can build with my eyes closed, I've had fox mustangs since I was 16 and sometimes just see how much boost you can put out until something grenades. Good c-clip setups with motorsport gears, auburn pro and 31 splines all the way to spooled 4.56s, 33 splines and c-clip eliminators. Also built a few hundred 10 and 12 bolt GMs and Danas when people blow up their daily driver.

I've done a few builds with deposits and bring me money every paycheck or the car sits, is that how you work it with your business? And if they don't pay how much bs did you have to go through for a lien?

Very good advice about carrying over cockiness. I guess a lot of time I feel like I know more about cars than life itself and at the end of the day can fix anything so I know my worth. I try to stay humble but from what you say that ain't happening. Either way I know it's very important to keep everything in perspective when it comes to the business side and clients. That's something you can't forget or you might fall on your face.

And yeah I want an empire so to speak where if I ever have kids and a wife I can give them the life they deserve, help out family or either way do what I want and not worry about money. But that's not the main motivation, right now apart from some debt I have nothing holding me back from really pursuing my passions. I don't want to end up an old man still working for someone saying 'what if?'

 

Points well taken.

First off, I know he's not a cokehead I can barely get him to drink with me. If either is more likely to blow money on hookers and blow it's me :2thumbsup:

He does spend money like it isn't a damn thing though. He's from California and worked for Nissan/Infiniti, worked for the engineering dept in Tenn lab coat and all, hundreds of thousands of technology at his disposal. His grandfather had him chopping tops and frenching headlights in norcal at a young age and I've sparked the rod bug in him so after a year it's evolved to this.

After work today we went over to talk to our friend, I was thinking about what you said about a mentor and this is the best guy I could think of. He knows the local scene and started a microbrewery on a shoestring that's now award winning and distributing across the southeast.

Very interesting what he was saying, was that if we go 50/50.. when we disagree, not if, but when there needs to be an agreement in writing on how to settle disputes. He has a partnership but went in 55/45 for this reason, so they don't deadlock themselves. One suggestion he had was to flip a coin, no shit. Have that in the business contract. The thing is though we are both master techs in a small shop and only had one argument in over a year. That is rare for technicians, especially alpha ones. Anytime we disagree we sit down and present our points of view and come to an agreement. That's one reason I feel pretty confident about a partnership, we each know each others worth and that we are both vital.

The brewer also offered a building right on A1A (east coast equivalent of pacific coast highway), a no interest loan and free help with framing and carpentry work and finding ways to collaborate together. IE a satellite bar for the brewery with the shop visible in the back through nicely framed glass. Fishbowl type shit. This would be in a year. I discussed my fears about flopping and wanting to play it safe, not really sure why this guy would be offering that. In a sense it's like he has more faith in the idea than I do myself.

Edit: And getting injured is a big one, but I have worked through some serious shit. Unless I can't stand, I work. And if it were my business it'd be even more like that. Something that was a game changer could always happen, but I can't worry about that. The key is safe practices around the shop. Cutting or grinding, put some fucking glasses on. Don't do things where you can slip and fall or slip or slice yourself, back up and take a new angle or approach to it.

 

The 'start' or breaking bread on the project was always different each time, Person to person. Every person, Like a rod, Act different. That being said, I did some tube/from scratch CJ's and buggys.
You don't have time and money to waste going and putting lien's on and or small/civil court. A work week and shipping parts, Is 5-6 days. Plus you know how FUBAR parts shipping is! That put me in the mindset of a % of the build.
Look at it like this, They want a high dollar car that's one off. Unless you have money, Make good money, Or was left/won money you are not going to buy/attempt. About $2500-$8k down, Rest due upon delivery.
Reason being, Its a pain to stop to take that payment when the day is going good. During that work week, That's the only time to go to court and to go about liens.
Say a car is going to cost a guy $30k. Id want $3-$3500 down. That's enough to cover a couple bills to parts houses. That's enough for anything custom made or built if outsourced.
You call him and he has a sob story for ya and says a week. Potential problem so you need another buyer to cover the cost. Not gonna lie, You might eat labor once or twice and come out even, But that's better than red. Im sure you know a few people who can buy or sell it for you for a few $$. So don't look at it as a 'bad thing' yet, He still has 3 days left to pay.
If he comes, Which most will when you throw down a $ that binds them and you. But if not, That X down will cover the bills for a bit until you can unload it. Then you have a car that's pure profit, Less labor. You tell friends its a 35k build so you get close to the original figure.
You are not in business to build and store cars on you're dime. Cash and carry the finance lot is down the road. This is not a job we are talking about, Its your life.
You can be friends with people, But business is business and time to pay up. Excuses don't pay bills, Trust me. You want to line up the problem before it happens IMO. I had a friend, Life long, Fuck me on a deal so even family has to throw down $ before ill get shit going.

You will run across people that know it all. You mentioned c-clip eliminators so I know you know the field as many have no idea what it is or means. One of the guys, That helped the previous owner of superior gear who designed it, Looks like a bum in a Canadian tuxedo.
Remember, You are in your place of business and reason being? You have forgot more about cars that most know. Make the cocky part into motivation. It seems you already have it IMO. Don't talk the talk anymore, Walk the walk and show them. I can give you decent advice, But I could not walk into a FL shop and be able to run it 100%, Different area, Rules and way things are done. Just because you made X here, Does not mean it will be XX there.
Honestly, you are lacking in a few spots, But that's above my pay grade to say. I will say this, Go 55/45 or more like 60/40 split. Its much less headache when you yourself can make on the spot decisions. Ask yourself, Without you, Can he go about doing it? Then, Can you?
If you want that empire and to build and expand, Go at it alone or with majority. You like a clean shop, What if he turns out to be a slob? Like I said, I never thought a friend of 15+ years fuck me with no vaseline.

But thats up to you and if you can alone. Regardless, A good security system with wifi cameras and trip sensors are a must these days. Locks keep honest people out.
A good sprinkler system for the building, Fire starts, You have the upper hand with the fight, Plus it might hold it until the FD get there.
Get rid of the flashy 15k snap-on box and get a fire safe one. Like you said, 50k is good, But not even close. A hot box will protect most and the 50k will replace them and buy a few more. Hand tools don't loose temper, But they don't know that.
Just don't go into this thinking it will fulfill all you have listed. Lower expectations, But a steller plan and advisors, Accountant and lawyer are a must. Be ready for the shady scumbags. Be ready for breaking even or getting by. Because getting by, Is the 20%, Not the 80%.

Plus, This is my opinion on what I have seen business owners do and fail because of, Today or in a couple years. The car(s) you have now are fine and will work for years to come, You don't need to pimp a new benz 'cause you can afford it'. That money is best saved for bad times or good times when you can retire late 40's and go play.
The house is good enough too, You don't need 6 rooms and 3 full baths for you, Or GF that turns into wife and kid. not saying a bigger house would not be needed, But you get the point, You are not dale jr. and have a track, Town and full theater to impress.
A deck, Grill and some steaks do the same for clients and prospects. They want to meet the guy who builds rod's and one off cars, Not the 100 yard walk to the cabana on the beach for the same thing.
Cash well wasted if you ask me. Play the same cards right, You can work half days or retire in late 40's and travel. This is what I have seen take great ideas down in a year and I don't want that for ya.

 

I'm the same way about stopping, I don't even stop to piss or get water if I'm in a flow. Hopefully I'll have someone to deal with clients and parts suppliers and things like electric bills, airgas, rent. But I'm sure at first won't. And the partner is more of a.. talker, I'll get more into that later.

But as far as filing a lien I damn sure would take the time if it ever came to that. We had an 05 Infiniti G35 sedan, super fucking clean car, 56k miles needed a catalyst, brakes, and put the scope on it to see why an entire bank was dropping out. Turned out to be just a tiny bit of green death on the cam sensor connector, had to source that out of Oregon or something and solder it in. Anyway they didn't want to pay their bill so it sat for almost a year, then we filed a lien and sold it for $14k.

You kind of lost me about finding another buyer, do you mean lining up a buyer for the car if you put a lien against the owner?

And you are damn sure right about that, and in a sense I consider a car like that pure profit. I know labor is time and time is money but all that it costs me is time. That paragraph made me think of this



Canadian tuxedo :rofl: yeah I don't know any of those guys but I damn sure know their products. I've always got eliminator kits from strange but have run superior axles before.

You brought up a bunch of good point about the split and now I'm questioning some things. But tell me where you think I'm lacking, I can take it. I was thinking about this split and on any given day at the shop I'm hammering shit out, I'm the top producer by far consistently. And I still stop to help everyone out of a bind that's why I'm the foreman. Now this guy is great, super smart driven and meticulous. But there's some things, like he spends a lot of time bs'ing with clients and takes longer on a lot of things. I see myself doing 80-90% of the chassis fab and heavy work and still disproportionately producing. Even his brake lines.. they're good but it bugs me sometimes because mine are better. I'm like why'd you put that bend right there? Where he shines is wiring and trim work, and engine assembly. All that I can do too but I can't do it all myself. I'm just starting to wonder if 50/50 is the way to go. And how to approach that conversation without him getting butthurt. Originally I was going to come up with the capital, then we decided 50/50 and ground up, no VCs.

Good point about wifi cameras, I know a lot of companies even xfinity are offering cheap packages where you can watch them from your phone or computer. And I like my flashy snap-on box :2thumbsup: wasn't even aware there were fire boxes, I'll have to look into that. That's one area I really have to everything covered, because if something like that ever happens I need a payout and fast to get rolling again. Without tools and equipment, I can't do shit.

And I hear you about being flashy. What I'd like is to pay off my house completely, all my other debt, then just bankroll. And no matter how much I have I'll just have a nice domestic truck. Silverado with a slight lift, nothing crazy. I'd want my wife to have a nice car, most importantly safe impact wise and not gonna be leaving her on the side of the road somewhere. Probably a Lexus or something like Acura MDX. That's even if I get a girlfriend to last that long, and the way it's looking now, who the fuck knows I'm just not going to worry about it. Traveling is something I hope to do. Overall I like some nice things but don't need them, main thing is I want to never really 'worry' about money and do that from doing what I love. I don't want pillars outside of my house or fountains and butlers and shit. Just a nice simple existence I'm in control of. At least as much as any of us can control anything in life.

Thanks for all the advice man, I really appreciate it. It's golden. Guess I have a lot of thinking to do, to be honest the main thing I'm worried about now is 50/50.

Edit: I know he will put everything he has into it, it will be his life just as much as it's my life. I just know who will produce more and who imo should have final say in decisions. There's a reason my credit is near perfect and his is fucked, I make very calculated decisions when it comes to money. That's a tough call, not sure what to do. I guess I'll just think it over for awhile, we're not incorporating just yet.