20 replies to this topic

[WillCarter]

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Edited by WillCarter, 26 August 2024 - 01:42 PM.

[sonikk4]

So if i was to rock up to you with a mini that needed every panel replacing could you actually do it (Hypothetical question.)

 

Could you rebuild the engine and gearbox.

 

There are so many variables to consider. Things like your hourly rate. Will it be enough to pay you a wage plus all of the associated outgoings for the unit.

 

Also bear in mind you have not said what sort of classic cars you would like to do. Now as for mainstream cars you really will need a diagnostic tool of some sort. Modern cars are full of ECU's, CCM's etc etc.

 

2 post or four post lift will be essential.

 

Have you a budget in place to buy the tools you need to start up (obviously you wont be able to buy everything as that is an open ended sort of thing)

 

I'm not poo pooing the idea and good for you for wanting to try it but your initial outlay will not be cheap.

[WillCarter]

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Edited by WillCarter, 26 August 2024 - 01:42 PM.

[imack]

I wish you luck but I think you've massively underestimated the amount of tooling required and the cost. Add a zero to your initial estimate and you might have a reasonable basic set of tools for working on a range of vehicles.
It's no good buying cheap tool when you're using to make a living. Having said that you don't need to pay snapon prices for quality tools.
Then you'll need a decent compressor and air tools and diagnostic equipment that's any good doesn't come cheap plus you have to be able to actually diagnose a fault. Despite popular belief, the computer is an aid, it doesn't actually tell you what the fault is.
Have you thought about insurance?

[J808]

As its already been said, you will need a decent air compressor, you will also want the ability to de-grease parts so you can clean them up. Most cheaper cars need some welding done, and with any part/patch/panel that has been welded it will need to be painted. I don't see any painting kit, or are you planning on using somebody else for painting.

 

Also you will need the tools for bleeding brakes.

[sonscar]

It is an absolutely terrible idea with more negatives than it is possible to think of.If you really want to try it then give it a go,you could be an excellent businessman and I wish you success,Steve..

[Jarvis_SPI]

I think I would spend some time watching Series 1 | Mathewsons | Classic Car Auctions in North Yorkshire to get an idea of you're letting yourself in for......

[ThermalEvent]

Hmmmmm... Best of luck. I think you should bin off all the classic car stuff and start with the basics.

Look to only service older cars that do not need expensive diagnostic tools for things like winding back handbrakes etc. and only stick to this (1990-2010-15 roughly speaking). A half decent diagnostic tool will work with most of them and they are not too expensive as the cars are older models.

Easy money if you can find customers (Facebook page?) and hopefully not any expensive repairs that could come back to bite you assuming you are a competent mechanic/engineer.

If this works out only then should you look to expand into classics/bigger repairs.

Oh and as mentioned above, buy some half decent tools as you could be using them daily, something like Halfords professional would suffice.

[nicklouse]

Mmmm way way off on the tools sorry. Not all classics are imperial. 
 

have a look at the kitted out roll cabinets that are advertised on Facebook market place. I bought one for 300euro. I would grade it as loaner quality. In that I won’t miss it if it does not come back. But some parts are fair. And it would give you more tools than you think you would need. It also gives you somewhere to put the other tools. Also don’t think you won’t need two of some sizes. I have often needed two brakes bars. Two 1/2” ring spanners. Etc etc. then there are the pullers. The presses, the files etc etc.

 

good luck.

[weef]

It is a bold move giving up a position where you have a regular income stream to move into the self employed envirnoment where probably for the first 6 to 12 months, at least, no profit will be seen and you still have to eat and pay your other outgoings, but as you say unless you give it a try you will always be thinking "what if".

With that in mind I feel you need a reasonable bank balance to see you through these initial stages and be prepared to work 25 hour days to get things up and running.

Not knowing your circumstances/ abilities or running a buisness capabilities makes it difficult to offer explicit advice but be prepared for some big item expenses when starting up and do not forget when buying and selling income can be erratic and do not forget getting a good reputation is everything so you have to hit the ground running with a good quality product.

Yes there will be a raft of things you will never have thought of, plenty of things out there to trip you up, but if you are serious you will work through these OK and come out the far side smiling, hopefully.

I have been trading , quite modestly, now for lots of years and I do not think £100K would cover the replacement costs of the equipment I have, and there are lots of things I do not have.

Regarding what vehicles to to work with, your choice is endless but it is maybe worthwhile selecting a model that is a fairly good seller and sticking with them, becoming experienced and familiar with them, this experience will help when you come to buy/ sell stock, you need a regular income.

I have found in recent years it has become increasingly difficult to locate trade vehicles at a decent price where you can refurbish and turn a profit, I blame all the media platforms where everyone thinks their old wreck is worth a fortune, there is little good in spending lots of hours on a vehicle for next to no profit, so be careful what you select, check the auction sites to see whats what.

I wish you all the best if you do go ahead with this venture, everyone has to start somewhere.

[DeadSquare]

Good luck.

 

Working on your own, it is more expensive, but don't go and buy parts, get them delivered.

 

Most jobs take twice as long as you think they will.

 

Keep very good time sheets and accounts.

 

Never do favours.

[WillCarter]

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Edited by WillCarter, 26 August 2024 - 01:43 PM.

[Designer]

Watch Richard Hammonds Workshop. If he is struggling and no doubt he is being paid to do the program what is your situation.

I was forced to change my career at the age of 40 from a very high paid job in the City. I retrained as a Carpenter/Joiner and went self employed. It was difficult to get established and fortunately my wife had just gone back to work (teacher) as the children were now at secondary school. My mortgage was covered by insurance for 1 year so one less thing to  worry about.

I would say that it was about 3 years before I could say I was making a true living and had established myself. I can say that after 27 years being self employed I could list many well known people including a foreign royal family as customers.

I wish you all the best, if you can run your new venture and still do your computer desk job I would just as a safety net until your are a bit more secure and established in the car business.

[rolphy]

its been a dream of mine for years to build my own cars and bikes, mainly bikes but as others have said to really start a business with the tooling required i think you would be looking at 5-10k to put down, then its time, can you basically afford to make nothing for the first year or two whilst you build a customer base and the skills to do the jobs, i think you would be best doing both jobs until you have built up a bit of cashflow, but then its down to how much time you have etc, probably why ive never done it

 

the quickest route to success seems to be knowing how to utilise social media these days, think gas monkey garage for the most successful, but from bad chad customs to mat armstrongs youtube channel etc.

[E23TFD]

Watch Richard Hammonds Workshop. If he is struggling and no doubt he is being paid to do the program what is your situation.
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Funny I thought the same this morning, he bought into a long established skilled team as well, Hammond brings the “media” so they should be okay. But they clearly were not living the high life before Richard came along.

Do something you enjoy and you won’t work a day in your life. A hobby is great for the mind but how would the mind be when that hobby has to pay your bills day in and out.