Would like some advice and opinions

64avanti

Promoted Users
Nope.

That is an incredibly high security deposit.

I don't know what the going rate is in your area, but he wants $6.00 per square foot in rent. I'm not clear as to who pays the property taxes, which would be about $10,000.00 where I live in the Buffalo NY area, bringing the rent to $8.00/sq. Ft. If you are responsible for them. That is way out of line for this area; it may be the going rate where you are; only you can say.

Don't sign a Triple Net lease, as that puts you on the hook for property taxes, insurance, and maintenance. If the landlord insists, I would walk.

You have one chance to negotiate a lease that has terms favorable for you. I learned to ask for everything you want up front, and see what they will give. For example, before I bought my current building, I rented in a commercial multi-tenant building. I asked for 3 free parking spots, no charges for tossing up to 5 large trash bags per day in the dumpster, and a 5 year lease with 2 options to renew for 5 years each, at a fixed sq. ft. rate. They accepted all of it, and a few other things that I can't recall at the moment.

Anyway, the point is that you have to do your homework and make sure you get the best deal possible. You have to know the local rates for commercial rentals, and the perks that are standard in your area. Maybe it's a good deal, but only you can determine that. It would be a lousy deal here, but there....
 

EddieF

Top Banana
Chris, if you can work out of your home shop, how about 4 coats of clear cut & buffed on wifes ride.
Have business cards for her to hand out cause she'll constantly be asked & complimented on it.
Do high end clear jobs.
I don't wipe my grocery getters down anymore unless it needs wax cause i can't take the looks & 100 questions everywhere i go lol. No peace when spi clear's shining :)
 

shine

Member
i have not done a local job in years . people will travel for good work . i have a really good car trailer and use to drive a few hours picking up work . have one friend who does 80% bumpers for dealers . makes a good living doing it and he drives up to 60 miles to pick them up .
 

elwood

Promoted Users
I've learned in life if I have an uneasy feeling , there is a reason for it. Something my thinking, reasoning, and conscious mind wasn't picking up on. I know from your attitude and knowledge you've given here that you can be successful wherever you are.
 

metalman

Oldtimer
Old saying, "If it doesn't fell good - don't do it". Shine is right, people will travel for good work. Set up an adequate work space and try to keep the overhead low. You need to get the word out somehow. Get your work to car shows, web site. I don't know much about the social medial thing.
If it were 20 years ago I would be all over the internet thing. Now I'm 68 and looking to do less now but never want to stop.
 

dhutton01

Promoted Users
Having been down the road of starting a small backyard restoration business here is my advice:

Buy a sixties muscle car project. Camaro, Chevelle, GTO, Fastback Mustang etc. Camaros and Fastback Mustangs have plenty of cheap repop sheet metal available and they are very popular.

Strip the car, repair the rust, do your best body and paint on it. Document every step. Post it on the relevant forums, Facebook and Instagram. Reassemble it to be a painted roller, no engine, no interior. Just a nice clean roller. Bust @ss and complete the work in three to six months.

Put it on a trailer and drag it to all the nearby car shows. Hand out business cards. There will most likely be plenty of interest.

Deliver good work for a good price in a reasonable amount of time and word will spread. Do only one car at a time. You will likely have more business than you can handle. I regularly turn down work and I’m booked through next year despite trying to quit….

Don
 

NextGen Classics

Floor sweeper
49 years old and in good health...... Stop now, good health won't last much longer. Keep it as a hobby. I quit at 49,started splicing fiber and I love it. Still do maybe one a year or so but have a pension now and great health insurance.
 

DATEC

Member
I'm old enough AAE.:) 49 to be precise. I do love it.... wish I didn't but I do. I know the toll it takes, lived it for the past 28-29 years. I don't have any illusions of getting rich. I just want a chance. I have come really dislike doing this for others. So many bad owners that I've worked for that take, take, take, demand more, more, more, and never give anything back. To old to change careers and I can't make it doing restorations in my area so I got to do something.

Crash, I figure about 1000 dollars a month on top of the lease amount for expenses, if I keep everything relatively basic.
CCC Comp Est Subscription
basic liability insurance (owner would have property insurance)
contract for solvent waste removal
electricity
water (not sure if it is town water or a well more than likely a well)
phone/internet
initial cost of a business license
property taxes(??)

What else am I missing?
CCC in my shop is $600mo for 3 computers, electric is average $1000mo. Heat is on budget at $500mo. Factor in internet for CCC and parts locating. Allstate has introduced a new rule, all customers must pay for their own rentals out of pocket first then they will reimburse them later, so get ready for customers to scream at you to please hurry up. Shop keepers Insurance is another issue that will depend on the value of and volume of customer cars in your care. Then you need an Appraisers Lic unless your State doesn't equire one.

That's some of what we deal with here in Pa anyhow.
 

dhutton01

Promoted Users
Having been down the road of starting a small backyard restoration business here is my advice:

Buy a sixties muscle car project. Camaro, Chevelle, GTO, Fastback Mustang etc. Camaros and Fastback Mustangs have plenty of cheap repop sheet metal available and they are very popular.

Strip the car, repair the rust, do your best body and paint on it. Document every step. Post it on the relevant forums, Facebook and Instagram. Reassemble it to be a painted roller, no engine, no interior. Just a nice clean roller. Bust @ss and complete the work in three to six months.

Put it on a trailer and drag it to all the nearby car shows. Hand out business cards. There will most likely be plenty of interest.

Deliver good work for a good price in a reasonable amount of time and word will spread. Do only one car at a time. You will likely have more business than you can handle. I regularly turn down work and I’m booked through next year despite trying to quit….

Don
I forgot the most important part! Paint it with SPI black single stage! :)

Don
 

Bartman

Member
Chris I'm just reading this. I haven't been on the forum much lately. Only you can make this decision but don't let emotion make the decision. Let the math make it a business decision. The overhead seems awful high for a one to two man shop to make any money. You'll spend every dime you make on overhead with nothing leftover for yourself. I built my shop and borrowed the money from the bank. I make money now that it's paid off but I lived in what felt like poverty for years because every dime went to overhead. Back then I was a 2 man shop turning $300-$500k per year. You can count on half of that was parts so now you have $150k-250k to pay ALL of the overhead from paint and materials to leases.
 
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