any small business owners on here

slow2000z28 · 12-28-2006, 09:46 PM

im looking to start a small performance shop with three other guys. we already have a small customer base but are now looking into getting a building on the highway to getthe business name ot there. what kind of loans are available for this type of work. what are some things to be aware of on the road to riches lol. any help would be great.. thanx

sagvr4 · 12-28-2006, 09:53 PM

Quote:

Originally Posted by slow2000z28

im looking to start a small performance shop with three other guys. we already have a small customer base but are now looking into getting a building on the highway to getthe business name ot there. what kind of loans are available for this type of work. what are some things to be aware of on the road to riches lol. any help would be great.. thanx

that it probably wont happen!

sagvr4 · 12-28-2006, 09:56 PM

but on a serious note, things ive learned from such movies as casino, scarface, rounders etc............. dont trust anyone and dont get involved with a woman lol

slow2000z28 · 12-28-2006, 10:02 PM

lol crazy sagvr4. ill hire you to be my parts junkie. ill hit u up to find me some needed parts how bout that?

sagvr4 · 12-28-2006, 10:07 PM

lol um ok. i would love to work in a shop, at the counter or something.

slow2000z28 · 12-28-2006, 10:13 PM

parts places are a great place to start.. pay is shitty tho.

ButcherRacing · 12-28-2006, 10:18 PM

My aunt used to have her own small business (it was successful she just got an even better job

) and my Dad is going to start one of his own soon after he retires and here are a few things I have learned from them 1. You will spend most of your time working on your business; expect long days even if it is successful. 2. Keep you personal assets and business assets as separate as possible (Ex: don’t start writing car payments as business expenses) it will be hard to separate where the business ends and where you begin financially speaking. It also makes it hard to get a true reading of profits. 3. Use that base clientele to its full potential they are your best repeat customers and it gives free word of mouth advertising 4. It sounds cliché but I cannot stress this enough LOCATION LOCATION LOCATION it can make or break your business if you have to settle for a little bit crappier of building for the perfect location DO IT. Once you are established your clients will follow if you move. Good Luck

trtrex · 01-01-2007, 11:08 PM

Quote:

Originally Posted by ButcherRacing

1. You will spend most of your time working on your business; expect long days even if it is successful. 2. Keep you personal assets and business assets as separate as possible (Ex: don’t start writing car payments as business expenses) it will be hard to separate where the business ends and where you begin financially speaking. It also makes it hard to get a true reading of profits. 3. Use that base clientele to its full potential they are your best repeat customers and it gives free word of mouth advertising 4. It sounds cliché but I cannot stress this enough LOCATION LOCATION LOCATION it can make or break your business if you have to settle for a little bit crappier of building for the perfect location DO IT. Once you are established your clients will follow if you move. Good Luck

1. Yes i'll have to agree with you on that
2. I partly agree. Keep your personal assests separate from business yes but I would write off car payments. Write offs are part of owning a business...some people even think it's a perk. You can write off personal assets used in a business...you just have to make sure you have good book keeping. Keeping your personal assets safe incase of a lawsuit is different. Make sure you incorporate your business as to protect your personal assets!
3. Absolutely agree
4. Nailed right on! Mcdonalds is in the real estate business not restaurant franchising!

In any start to a business you have to assume the worse and be prepared for it. You're first few months are going to be shit. For your business i would recommend opening close to or near Spring. How you sell your company is crucial to getting new customers back to buy. Smart consumers will shop online and research prices. Make sure your website, logo, pricing, presentation...etc stands out from other online vendors. Most mechanic shops look horrible. Keep your shop clean and neat. I see a lot of vendors in the business with poor customer service...concentrate your efforts in CS. Owning a company is like a full time job interview...you have to constantly sell yourself.

FYI: I know a great graphic designer when you're ready to do your logos, website, print advertising...etc.

slow2000z28 · 01-01-2007, 11:14 PM

thanx chris ill let you know when we get ready to do the webste stuff

ButcherRacing · 01-02-2007, 01:05 AM

With the car payments My Aunt was writing off Her ML 500 and A Subaru so it was kind of big. If you have any other questions I dabble in a bit of law and my dad has been doing law for a good 25 years so I can always ask him. I also worked for my aunt so I got kind of used to how she ran things.

beak · 01-02-2007, 06:48 PM

Quote:

Originally Posted by trtrex

FYI: I know a great graphic designer when you're ready to do your logos, website, print advertising...etc.

Send me the info too... might be interested

trtrex · 01-02-2007, 07:34 PM

^^^pmed ya

12-28-2006, 09:46 PM	#1
slow2000z28 Rated R Racing 2000 z28 My Page \| My Pics \| My Ads Join Date: Nov 2006 Location: Rocky mount VA AKA the ROC Posts: 752	any small business owners on here im looking to start a small performance shop with three other guys. we already have a small customer base but are now looking into getting a building on the highway to getthe business name ot there. what kind of loans are available for this type of work. what are some things to be aware of on the road to riches lol. any help would be great.. thanx __________________ QTP LT's, QTP ORY w/ Cut outs, ported tb, ported Maf, msd wires, 4.10 gears, upgraded axles and drive shaft, built Rockland T-56 trans, t/a rear girdle, centerforce clutch, cold air intake, flowmaster, and standalone computer tunning from HPTuners weiand intake on the way and sts turbo kit hopefully by this spring.

12-28-2006, 09:56 PM	#3
sagvr4 Moderator '91 Mitsubishi Galant VR-4 My Page \| My Pics \| My Ads Join Date: Oct 2006 Location: Colorado Posts: 2,192	but on a serious note, things ive learned from such movies as casino, scarface, rounders etc............. dont trust anyone and dont get involved with a woman lol __________________ ~Scott

12-28-2006, 10:02 PM	#4
slow2000z28 Rated R Racing 2000 z28 My Page \| My Pics \| My Ads Join Date: Nov 2006 Location: Rocky mount VA AKA the ROC Posts: 752	lol crazy sagvr4. ill hire you to be my parts junkie. ill hit u up to find me some needed parts how bout that? __________________ QTP LT's, QTP ORY w/ Cut outs, ported tb, ported Maf, msd wires, 4.10 gears, upgraded axles and drive shaft, built Rockland T-56 trans, t/a rear girdle, centerforce clutch, cold air intake, flowmaster, and standalone computer tunning from HPTuners weiand intake on the way and sts turbo kit hopefully by this spring.

12-28-2006, 10:07 PM	#5
sagvr4 Moderator '91 Mitsubishi Galant VR-4 My Page \| My Pics \| My Ads Join Date: Oct 2006 Location: Colorado Posts: 2,192	lol um ok. i would love to work in a shop, at the counter or something. __________________ ~Scott

12-28-2006, 10:13 PM	#6
slow2000z28 Rated R Racing 2000 z28 My Page \| My Pics \| My Ads Join Date: Nov 2006 Location: Rocky mount VA AKA the ROC Posts: 752	parts places are a great place to start.. pay is shitty tho. __________________ QTP LT's, QTP ORY w/ Cut outs, ported tb, ported Maf, msd wires, 4.10 gears, upgraded axles and drive shaft, built Rockland T-56 trans, t/a rear girdle, centerforce clutch, cold air intake, flowmaster, and standalone computer tunning from HPTuners weiand intake on the way and sts turbo kit hopefully by this spring.

12-28-2006, 10:18 PM	#7
ButcherRacing Charlie 40 Hands Hyundai Sonata My Page \| My Pics \| My Ads Join Date: Oct 2006 Location: Grand Rapids, MI Posts: 683	My aunt used to have her own small business (it was successful she just got an even better job ) and my Dad is going to start one of his own soon after he retires and here are a few things I have learned from them 1. You will spend most of your time working on your business; expect long days even if it is successful. 2. Keep you personal assets and business assets as separate as possible (Ex: don’t start writing car payments as business expenses) it will be hard to separate where the business ends and where you begin financially speaking. It also makes it hard to get a true reading of profits. 3. Use that base clientele to its full potential they are your best repeat customers and it gives free word of mouth advertising 4. It sounds cliché but I cannot stress this enough LOCATION LOCATION LOCATION it can make or break your business if you have to settle for a little bit crappier of building for the perfect location DO IT. Once you are established your clients will follow if you move. Good Luck __________________ If it wasn't for my horse, I would never have spent that year in college.

01-01-2007, 11:14 PM	#9
slow2000z28 Rated R Racing 2000 z28 My Page \| My Pics \| My Ads Join Date: Nov 2006 Location: Rocky mount VA AKA the ROC Posts: 752	thanx chris ill let you know when we get ready to do the webste stuff __________________ QTP LT's, QTP ORY w/ Cut outs, ported tb, ported Maf, msd wires, 4.10 gears, upgraded axles and drive shaft, built Rockland T-56 trans, t/a rear girdle, centerforce clutch, cold air intake, flowmaster, and standalone computer tunning from HPTuners weiand intake on the way and sts turbo kit hopefully by this spring.

01-02-2007, 01:05 AM	#10
ButcherRacing Charlie 40 Hands Hyundai Sonata My Page \| My Pics \| My Ads Join Date: Oct 2006 Location: Grand Rapids, MI Posts: 683	With the car payments My Aunt was writing off Her ML 500 and A Subaru so it was kind of big. If you have any other questions I dabble in a bit of law and my dad has been doing law for a good 25 years so I can always ask him. I also worked for my aunt so I got kind of used to how she ran things. __________________ If it wasn't for my horse, I would never have spent that year in college.

01-02-2007, 07:34 PM	#12
trtrex Moderator Subaru WRX My Page \| My Pics \| My Ads Join Date: Oct 2006 Location: Mt Akina Posts: 1,554	^^^pmed ya __________________ Chris '03 WRX S4+ TEAM

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