hey guys ....I am curious if any of you are car businessman/restoration owners? I have been selling cars here and there for 16 years (not full time). I feel I am very good at it. I have a knack for value and car mechanics (although I'd rather pay someone for the work LOL). I am possibly thinking about making this a career. Can some of you fill me in on your venture? Thoughts, values, advice, etc. I know many shops make it and many go bankrupt fast.
car business/restoration owners?
- Thread starter nxhappy
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Subbing to this thread. This is something I have always been interested in as well due to my love for cars. Every vehicle I have ever owned I have ended up flipping for a profit.
My current career wrecked what used to be a fun hobby for me (30 years might do that). I too have thought about joining the automotive industry full time, NO WAY, cars are fun to me, I dont want to screw that up. By no means an answer to your question, but my 2c.
Some friends of mine started a restoration shop. They have a show on cable now. 12 or so years in business and now with 20+ employees. I know the two main guys work their butts off promoting the business. One of his clients suggested the TV show and had previously sold a show to a cable network.
its easy to make a profit/think you made a profit when you aren't having to pay taxes, insurance and count other overhead like electricity, shop supplies etc...Then there's the whole issue of your time.
The reason many of these and other businesses go under is because they are good at the job and not running a business. It's like the mechanic that opens a repair shop, very quickly he/she is no longer a mechanic but the guy running the business while others turn wrenches.
The reason many of these and other businesses go under is because they are good at the job and not running a business. It's like the mechanic that opens a repair shop, very quickly he/she is no longer a mechanic but the guy running the business while others turn wrenches.
What are you looking to do? quick flips like Hondas? or full blown restorations like gas monkey?
This right here is a great point. Running a business is not just "being good at the job."
thats pretty sweet
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