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Old 04-02-2005, 11:08 PM   #1
joe tom
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new store

hello guys, and girls,
im in school majoring in marketing, and one day i'd like to own my own shop. if anyone is interested in opening up a performance shop in the bucks county area, let me know. i think it would be da bomb
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Old 04-03-2005, 12:55 AM   #2
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What you'll find during your marketing class is that Car style and performance is one of the highest 'buyers remorse' industries, thus it constantly relies on aquiring new customers, opposed to repeat business from an established user base. Also, no matter how much we are all big car guys/gals, the import 'scene' is definatly a fad right now. One could argue that it is near peaking, or perhaps, is currently at its peak. Once the fad passes, and the kiddies move on to the next fad, there will be a much smaller user base to serve, which will lead to more repeat business from established customers, but also contribute to a higher cost of aquiring a customer.

The sad realitiy is, more oft than not, owning a shop is an exercise in patients, as you endure idiot after idiot, work on a close ratio of less than 10%, and hope to god the large projects that you are working on actually result in a customer paying you in full, and you being able to get it done in a manner that is profitable.

Not to say that there isn't the possibility of it being absolutly awesome, but there is a let of 'dues to pay' before you get to that point. Take a look around for the 'next meet discussion: the shop' thread. There is some real good insight in that.

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Old 04-03-2005, 03:05 AM   #3
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Joe, I am very interested... and on target for a solid shop in approx. 12 months.

It'd be nice to compare ideas and maybe come up with things neither one of us have thought about before.

also, Charles who is on this board too is interested in opening a shop.
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Old 04-03-2005, 04:44 PM   #4
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Old 04-03-2005, 05:45 PM   #5
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that was a really good idea until Extreme PSi opened they price match too so u need some good marketing and good deals
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Old 04-03-2005, 08:03 PM   #6
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I would love to open a car shop. However, you are going to have to be willing to put alot of money out upfront to hopefully gain a profit back. The main expenses being a few REALLY good mechanics who arent limited to brands and have tuning ability, an awd dyno, a really nice shop car, and a well built and advertised website. As cliff pointed out the import scene is a fad, the average ricer on the street does most of his/her shopping online and may never set foot into a store. If they do its going to be a store like extreme psi or drivers choice where they can find the alteezas and seat belt covers they require. However, the guys that will be loyal want a shop who can reccomend the latest and greatest part then have ther ability to install and tune it for maximum performance. So you need to combine all these aspects into one for a store that will be survive after the fad is over. Im totally down for opening a shop though.
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Old 04-03-2005, 10:29 PM   #7
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Quote:
Originally Posted by GSXDCY
that was a really good idea until Extreme PSi opened they price match too so u need some good marketing and good deals
extreme PSI has a major flaw... they're cool and their part prices are cheap... but you're a fool to have your main focus on selling parts when a guy can sell **** out of ebay with a fraction of the overhead.

i will throw a very big party when my (along with my friend's) shop opens... approx 12 months and we'll finally have a shop that will be worth writing home about
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Old 04-03-2005, 10:34 PM   #8
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Quote:
Originally Posted by criz
Quote:
Originally Posted by GSXDCY
that was a really good idea until Extreme PSi opened they price match too so u need some good marketing and good deals
extreme PSI has a major flaw... they're cool and their part prices are cheap... but you're a fool to have your main focus on selling parts when a guy can sell *no cursing!* out of ebay with a fraction of the overhead.

i will throw a very big party when my (along with my friend's) shop opens... approx 12 months and we'll finally have a shop that will be worth writing home about
also i heard some horrible stories about their installs.... when your store opens can i get a job? lol
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Old 04-03-2005, 10:50 PM   #9
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if you're looking for a job then, and we're in need of someone with whatever level of experience you have... you got it man.

it'd be sick to go to work and deal with cars every day.
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Old 04-03-2005, 11:57 PM   #10
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sign me up with a job as well.

I heard Extreme PSI doesn't do install anymore...they ****e dup on of my friends Eclipses really bad or some ****. They are turds.
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Old 04-04-2005, 01:55 AM   #11
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i to agree that extreme does suck the big one, but i have a dream, that we will rise up and put them out of business with a shop that will work for everyone. i want to be able to walk into a shop that has not only good quality parts and installation, but is my own, or a good friends so that we can talk about our cars all day long, and not worry about the dudes at extreme and driver's choice looking at us like we are obsessive compulsive! i have a dream.
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Old 04-04-2005, 08:25 AM   #12
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extreme wouldn't be a bad place to get parts from, ha ha
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Old 04-04-2005, 09:04 AM   #13
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Extreme isn't a bad place and the fact that they have most everything in stock is what draws customers. The fact that I can go up there w/cash and get a decent discount while picking up my part right then is why I go to them. Granted, I'd NEVER let them touch my car. EVAAAAAAAAR.

Myself, Prototype240, Bri (bcor I think on here?), and another friend got our business all fully legal and legit a couple weeks ago. We're in the middle of trying to establish vendor relationships. I have to say that we did underestimate the difficulty in this somewhat. We don't have the capital to stock anything right now so we were looking at drop shipments for most of our business. The few companies that will do that a lot of times still require a minimum buy-in anywhere from $5k to $15k. Plus, dont' forget there are fees to drop-ship which obviously cut into your profit. Talking to a lot of different people w/smaller shops they all seem to recommend starting by making your own products and getting your name out that way for a little while. Take what you make there to help supplement the capital you're still gonna have to put in. Let me tell you, it's not easy w/student loans, bills, trying to build your car, etc..

Be prepared to live off PB&J and Raman for a long while. I even spoke w/the guys at Extreme a little while ago about how they got started and it's always the same story. It just takes a long time. They only just recently started doing well. If anyone has any questions about anything feel free to PM me and maybe I can give you some insight into the business setup and all. Granted, I'm in NJ so things are a little different from PA.
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Old 04-04-2005, 10:43 AM   #14
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i forgot about extreme's "cash" discount, i do get the hook-up there. its just that i always feel like i am bothering them unless i am about to spend $200-300 on a part that day.
thanks for all of the insight, i guess i'll have to do some more in-depth research before taking the plunge, and opening a shop.
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Old 04-04-2005, 08:32 PM   #15
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Quote:
Originally Posted by wrx_snobordr
I would love to open a car shop. However, you are going to have to be willing to put alot of money out upfront to hopefully gain a profit back.
This part is very correct.

Quote:
Originally Posted by wrx_snobordr
The main expenses being a few REALLY good mechanics who arent limited to brands and have tuning ability, an awd dyno, a really nice shop car, and a well built and advertised website.
I disagree strongly with this statement. Check my other thread for the full math break down, but a dyno is not an initial investment...it should be a luxary item when you are seeing consistant positive cash flow, with a realistic projection of continued growth. The money it would take to buy and run the dyno would require it to run almost non-stop to simply pay for itself.

A single good mechanic is enough untill you have so much business that he doesn't want the overtime you are offering him to complete the available work. Again, you will see more consistant revenue from oil/tire changes and scheduled maintnence than full on custom work. A person who can competantly perform basic bolt on modifications, yet doesn't cost you as much as a highly skilled mechanic, is invaluable at the onset. Your car is the shop car, assuming you can continue to afford the car you drove when your paycheck was signed by someone else.

As far as tuning, it seems as though road tuning is accepted with equally open arms as dyno tuning, at least within the subaru comunity...I would assume this goes for most other common makes. Cheap, Safe, Good - pick two...

Quote:
Originally Posted by wrx_snobordr
As cliff pointed out the import scene is a fad, the average ricer on the street does most of his/her shopping online and may never set foot into a store. If they do its going to be a store like extreme psi or drivers choice where they can find the alteezas and seat belt covers they require. However, the guys that will be loyal want a shop who can reccomend the latest and greatest part then have ther ability to install and tune it for maximum performance. So you need to combine all these aspects into one for a store that will be survive after the fad is over. Im totally down for opening a shop though.
There is a huge initiall investment in all sorts of un-fun things. Insurance (both for your business, and for yourself), a lawyer, property aquisition, licensing, etc...

Also, while it seems like an awesome idea to get all your friends together and open a shop, realise that someone will be required to be the boss. Now think about how much you make currently, and your friends...are you all willing to work for the same amount, which will most likly be significantly less than your current amount? Who's name will it all be in? Are you prepared to invest your profits back into the company, even if it means continuing to make less than you may be worth in another field? We all may love cars, but are you willing to upend your current lifestyle and take a chance for them?

-Cliff
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Old 04-04-2005, 08:35 PM   #16
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All excellent points. Also, don't forget to really, really, really think about who you go into business with. Friendships do not matter in the realm of business. I speak from firsthand experience. When money enters an equation (i.e. business), it becomes paramount. It's not heartless; it's business.
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Old 04-04-2005, 08:53 PM   #17
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All excellent points. Also, don't forget to really, really, really think about who you go into business with. Friendships do not matter in the realm of business. I speak from firsthand experience. When money enters an equation (i.e. business), it becomes paramount. It's not heartless; it's business.
DING!

Have you ever fired someone you consider a friend? I have. It sucks.

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Old 04-04-2005, 09:04 PM   #18
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So have I. Nothing worse than firing a friend, especially when you know they have a family to support.

But like Chris said, business is business. You can't let friendships get in the way.
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Old 04-04-2005, 09:56 PM   #19
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If anyone starts a shop can i have a job? I got some skillz. Excellent gofer. but seriously i need one.
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Old 04-04-2005, 10:05 PM   #20
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Sure, pick a number between one and ten.

You're fired!
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