Thread: What do I need to know about opening up a Hotrod Business??

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Every customer that comes through your door will be your boss. So, you can't avoid working for someone else. Only difference is you don't work for the same boss all the time.

I can tell you how I started and you can take from it what (if anything) you find useful. I stated out working at night and weekends (After hours from my day job). Probably what you are doing now I assume. I built the business and got a solid repeat customer base. I did that for nearly 10 years, maybe a little longer than was nes., but I tended to be conservative raising 2 kids. I bought equipment that I knew I could pay for with my day job if the bus. slowed down. By the time I made the jump to full time self employment I was making more in my part time business than I was my day job. And I could no long keep up with the schedule of the part time job. I was working 100 hrs. + per week for 2-3 years toward the end. Theres no way I would do that now, (Problee' would kill an old geezer like me now) but at the time I did it to get the business off the ground. We mortgaged the house for equipment a couple times. We didn't try to get too big too fast. I still operate that way. I stay small, keep overhead to a minimum and never over extend myself. Always treat customers with respect, even when they don't return it (Which is very seldom). Don't get greedy with prices and do the best job you can. All comon sence stuff, but stuff people forget sometimes when theres deadlines to meet, and bills to pay. Oh yea, that's another one. Pay your bills on time and keep the business solvent enough so you can. Oddly enough sometimes people don't pay when they should, sometimes people go bankrupt, sometimes their checks bounce, and you still have to pay your bills.

All the previous posters gave good advise. Take it slow, build a solid customer base and good reputation first. Don't spend yourself into debt buying high dollar equipment until you KNOW you can affort it. Keep it small with low overhead and run it as a part time busines for awhile. Find out when the slow times are during a given year. It's a tough life being self employeed, but after you've been at it for 20 years or so, it has it's rewards too. Wouldn't tade it for punchin' a clock anymore ..... that's for sure.