Hey, okay I am hoping to be an automechanic or something of that trade but one of my dreams is to own my own shop (as a business) and i was just wondering if it is expensive to open and then maintain and keep up with the technology (in tools and vehicles)? I'm just curious to know. And also, would it be worth the money to open up a shop (ie. costs VS profit)? I'm really into cars and really want to know all i can, especially if i was to open a shop. I just want some opinions from people who know a little about shop management and up keep and everything. Thanx in advance for any and all help.
my father has owned a shop for about 10 years. the costs are enormous if your starting from scratch. the tools are the biggest cost, thats if your renting your shop space; if you were to buy your own place thats another couple loans. Not to say that it cant be done; its just extremely hard to have that kind of expense with no solid client list. It would be fine if you had your own comprehensive tool set with a solid client list and/or in a good location. good luck with everything and just know you can do whatever you want if ya want it bad enough.
besides just the costs of tools and certification, there's the lease cost
of the shop itself, insurance costs, and business taxes, including annual
personal property taxes on teh tools you already own, based on their value.
There's the cost of the credit card machine so you can take credit cards.
There's the cost of business phone systems. There's the cost of phone book
ads, and regular advertising. If you have employees, your insurance goes
up, there are the costs of employment taxes, payroll taxes, functional
facilities for their use, and more. An employee that you pay $10 an hour
will cost you twice that.
Cleaning materials and waste disposal fees are included in the overhead costs, as well. And we haven't even gotten to inventory of frequently used materials.
It seems that most small businesses have to "cheat" the system in some fashion just to keep their doors open.