Thread: Self-builder's dream

Tweet

Hi my name is Adam Churchwell. I am currently a college student and entrepreneur. I am a motorcycle and car enthusiast with a love for self-builds. I was wondering if any self-builders would be interested in this.

I want to give self-builders who don't have resources or equipment a chance to get started on their dream car or bike. I want to offer a storage facility for cars and parts, multiple build garages with post and motorcycle lifts, fabrication and build tools, and build information and assistance.

If there is a demand, I would add a bar with pool tables and sports on-demand. This would be a questionable/risky addition, but I trust it would succeed.

This would be tailored for the enjoyment of the self build and car/bike enthusiasts’ lifestyle. What do you guys think?

Thanks.

Dont fool yourself, if you do it on the cheap, it wont fly at all. IF you do it right, the odds are that it may not fly.

IF I had the $800K++ that it would take to get such an enterprise going (just going, not sustained), I would take that money and let a professional money manager invest it for me and he would monitor the account for me......and I would make 12% average over the last four years and the principal would be relatively safe. I would never have to think about the decisions regarding what to do, what stock to buy, etc.

Much easier than dealing with the public, insurance, taxes, permits, lawyers, inspectors, and the like.

mike in tucson

Years ago there were a few similar ventures, although on a smaller scale, usually locally owned and operated. None exist today that I know of. As Robot said, lots of issues, like insurance, etc.

The concept seemed good, you have a garage where people can come and rent space, tools and equipment to fix or buid their cars. Problem is, building a car takes up tons of room for a very long time. You can't get someone to pay enough to give you any return on your investment.

Some car clubs have tried this too, and maybe some have made a success out of it, but do it more as an accomodation to the members as opposed to something that actually makes any money.

Good thought, but I don't see how it could work.

Don

I looked into it once, about 20 years ago. Even then, the insurance costs were prohibitive. With the "sue ya if ya sneeze near me" mentality today, I think Robot has the best idea what to do with the money.... It's a good plan, but if you charged enough to make it work nobody would show up. Those who are really serious will do whatever they have to do to have the tools and facility required to build a car. Any attorney worth his keep will tell you how much liability you are taking on with such a venture.

If you're looking for an investment, look me up. I'll sell it all for the right price!!!!!

It works at the local Air Force base as the "hobby shop" because it's supported by the military.

This subject pops up on several forums every year or less.

Besides the major problems like insurance, the security is also a problem... how do you protect the customer's car when he is not there? Hmmm....
the motor's missing in my hemi....... and someone left a 6 cylinder anchor in its place!!!!

mike in tucson

Originally Posted by robot

Dont fool yourself, if you do it on the cheap, it wont fly at all. IF you do it right, the odds are that it may not fly.

IF I had the $800K++ that it would take to get such an enterprise going (just going, not sustained), I would take that money and let a professional money manager invest it for me and he would monitor the account for me......and I would make 12% average over the last four years and the principal would be relatively safe. I would never have to think about the decisions regarding what to do, what stock to buy, etc.

Much easier than dealing with the public, insurance, taxes, permits, lawyers, inspectors, and the like.

mike in tucson

Amen to that! Or just open the sports bar, and let them talk about their dreams,... then you could probably make a reasonable living from it. :-)~

hey Robot! Where can you get 12% on $800,000.00 with a fairly secure principle today? love to know!

Originally Posted by Charlyg

hey Robot! Where can you get 12% on $800,000.00 with a fairly secure principle today? love to know!

I made 11% last year. Doesn't seem out of line.

Open a Topless Barbershop.






Not that I would ever go to one....butt.....

Since this thing is drifting a bit, it reminds me of a "prospect" that brought a proposal into my bride when she did commercial lending about 20 years ago. His bright idea was to open a tavern with a laundramat attached. Figured that folks, especially single guys, would see value in starting a load of laundry and then, while waiting, knock down a barley pop or two. And to add to the "appeal" his feature food item was going to be baked potato. A relatively inexpensive meal that could be customized with a wide offering of toppings. His name for the business? Suds, Duds, & Spuds!

Adam, keep the wheels turning. You may come up with something that pops someday. As the guys have said there was a wave of this idea 20-30 years ago. I'll add to the list of what's "wrong" with it by saying in general the folks who don't have a facility to work in are at the lower end of the economic range and can't keep up with the mounting rent that you'd need for the time required to build, or signficantly repair, a car. Those that could afford it, most often have built something at home. You'd think that for quicky repairs the bucks down guys would see some value in a protected shop with tools, but it's too limited a market.

One of these days I should tell you about my idea for a mortuary located at a ski resort.

One of these days I should tell you about my idea for a mortuary located at a ski resort.


I like that idea Bob. Sure beats that merger I was involved with between the Submarine builder and the screendoor company. The idea turned out to be all "wet."


Don

Believe it or not Bob there are a couple of bars with laundrey mats up in the U.P. (Upper Peninsula) of Michigan.
They incorportated it with the mass surge of deer hunters and fisherman in mind.

Originally Posted by Supa Roosta

Believe it or not Bob there are a couple of bars with laundrey mats up in the U.P. (Upper Peninsula) of Michigan.
They incorportated it with the mass surge of deer hunters and fisherman in mind.

There ya go............niche marketing at it's best! The next question would be................would these same customers utilize the same type business in say Dearborn, week in and week out?

Originally Posted by Bob Parmenter

There ya go............niche marketing at it's best! The next question would be................would these same customers utilize the same type business in say Dearborn, week in and week out?

Only if it were connected to a Mosque instead of a bar!

Being in the sign business I see allot of ideas for businesses. After awhile it's easy to spot those that have a mission statement/business plan and those that just think their idea is neat.