Thread: ? for shop owners

Tweet

I'm probably too conservative, but I would go slow. Do you have a history of building cars? (A good reputation in the area as a car builder)? I would start the business as a side job. Build it slow buying equipment and inventory as I could afford it. Then once you have a reputation and client list built to the point that the business can support you,... then move into full time.

I built my sign business that way. I put a second mortgage on the house on more than 1 occasion. Worked looong hours and bent over backwards to give the customer what they wanted. And over time I got so busy that I couldn't afford to stay at my regular job. (Looking back I should have gone full time sooner, but like I said earlier, I'm conservative)

BTW: In my business as a sign shop, I make signs for a lot of start up businesses. After a while you get a feel for the ones that have a good chance and the ones that are just going into business blind. I've seen some guys that i just got to shake my head and say, "What are they thinkin"?
My advise would be to have a plan. Don't assume if you open they will come.
Make sure your area will support your business (A good argument for starting out as a sideline).
Be prepared to work harder and many more hours than you would working for someone else
.............. well I could just keep adding to this list because there are a LOT of things to watch for (another good argument for starting out as a sideline).

And cost will vary GREATLY .......... too many variables. I 've been in business for around 20 years and I can tell you equipment costs are in the annual budget . There's always something needing repair or there's always newer bigger, better, faster machines out there. I don't have employees. I buy machines that allow me to work by myself. I had employees at one time ...... Don't even get me started on that can of worms. Sorry....... just bad experiences I guess.

Don't mean to sound negative, Just make sure you go into it with your eyes wide open. Be prepared to work and work hard.

Oh, and one other thing. I would sure hate it if I had to go back to working for someone else after working for myself.