I'm looking for a new Career

[W1ggz]

As already mentioned a garage business is a hard one to do. Having said that it is also a plan of mine and my business partners to open our own car care centre in the next 5 years. There are a few garages in Portishead but none offering a complete package ie mot,service, repairs, bodywork and valeting all under one roof. We have started pricing these things up and factoring in the units available in Portishead for the size required which is big and bloody dear as there a lot of money round here and its growing at the moment.
Lewis you say about your worrying about the weather for valeting so I'm guessing your looking at going mobile. If you can find a cheap unit you can fit a couple of cars in and park outside I would advise you to do this rather than mobile but you can't be hidden at the same time , I made that mistake before. We had our busiest month this year when everything was frozen for a month.
It sounds like Wurly and crunchy need to start there own business

[Shiny]

I'm now self employed (in a partnership) and the last 5 to 6 years of my life have been the most rewarding (not just in a monetary sense) years of my life. Without being big headed, i've discovered what i am capable of and, if i work hard, it is for my benefit. I spent 20 years working above and beyond the call of duty (sometimes from 8am to 11pm whilst being paid 9 to 5 ) because it was in my nature to do so. Silly really, but we can't change who we are.

If i knew what i now, I would have taken my life by the short and curl curlies 20 years ago and had more confidence in myself and my capabilities, but i was comfortable being employed taking home a fixed salary and not having to worry about things.

It isn't for everyone, there are difficult times and good times and you have to be accountable for your own actions and decisions, but don't rule out being self employed.

These days you will need find a niche so you have limited competition and be good at what you do. Starting out will be hard, very hard, but with little or no commitments, now will be the time to take a chance if this is what you want to do.

[wurlycorner]

It sounds like Wurly and crunchy need to start there own business

I'd be up for starting one in Soton - I'd love to move back down there!

[Shiny]

Lewis you say about your worrying about the weather for valeting so I'm guessing your looking at going mobile. If you can find a cheap unit you can fit a couple of cars in and park outside I would advise you to do this rather than mobile but you can't be hidden at the same time , I made that mistake before. We had our busiest month this year when everything was frozen for a month.

A unit is a big decision, especially as a new venture.

Obviously there will fixed bills such as rent, rates, water, electric. There may also be additional costs such as a service charge for the upkeep of common areas.

If you have a crap month, the overheads will still be there, so you will need to budget.

You need to look at potential profit or loss. Let's say the unit will cost you circa £10k per year. This means you will need to see another £830+ a month over and above mobile work just to break even.

Commercial premises also often have a tie in period, you might even have to commit to 2 years rent before you get a break clause. If it doesn't work out after 6 months, you will still have to find 18 months rent.

You will need to ensure the unit has the appropriate use classification and some councils can be funny about run off water. You will probably be OK regarding the use if there are other motor trade activities on the estate.

One great advantage is that you can work in all weathers, provided of course your mobile customers are happy for their vehicle to be at the unit.

Insurance is a consideration too. Whilst mobile, you don't necessarily need motor trade road risks, or if you do, there are some quite well priced policies if you fit the criteria. The Insurers that generally cover valeters under a road risks policy often don't provide any cover for customer's vehicles at a trade premises. Whilst you have vehicles in your care at a unit, you are legally responsible for their safe keeping, so if they are damaged or stolen, you will be responsible. So you will need to look at a Motor Trade policy which extends to include customers vehicles at your trade premises. Obviously depending on the types of vehicles you work on and the maximum value, this type of cover can run into several thousands of pounds. So if your insurance costs, say £4k, that £10k unit cost becomes £14k and you need to see another £330+ a month in addition to the £830 per month again just to break even.

[lewd lude lover]

Iv ridden the wave of opening an independent high st shop and thats great fun but god damn its expensive.

Big issue nowadays is finding something either isn't sewn up by a monopoly or flooded with tryhards.

[paul bristol uk]

Shiny makes a lot of sense its things that he mentions that if you don,t address them at the start will bring down a business very quickly.

Never forget the 5 "P's "Planning, Prevents, Pi ss Poor, Performance.

edited to get around effing swear filter

[CrunchyAdams82]

Good posts peeps. Keep em coming. Starting my own business would be great, but I don't have the capital to do that just yet. So that would have to be part of a 5 year plan I reckon.

Initially, I would look at joining somebody's existing venture (perhaps in it's infancy), and then work on expanding that with them to make some decent money. Then either carrying on with that, or branching out into a different, more rewarding field with the same partner(s).

Start small in a niche industry, then using customer focused values, expand to become a market leader. That sort of thing.

[CrunchyAdams82]

Shiny makes a lot of sense its things that he mentions that if you don,t address them at the start will bring down a business very quickly.

Never forget the 5 "P's "Planning, Prevents, body lemonade, Poor, Performance.

Indeed Sir. Fortunately planning is one of my strong suits.

[Shiny]

Initially, I would look at joining somebody's existing venture (perhaps in it's infancy), and then work on expanding that with them to make some decent money. Then either carrying on with that, or branching out into a different, more rewarding field with the same partner(s).

If you are planning on become a partner in a business of which you are an employee, you have a very difficult dilemma ahead of you. Whilst it would be great to be the super-employee, growing a company etc, you have to bear in mind that the more you increase the value of a company, the more you will have to pay for it when it comes to buying your share of the partnership!

[W1ggz]

All very good and valid points shiny. The figures you quoted are a lot higher than any I've had. I know these were guesstimates. Our over heads for our unit are rent of £600 our insurance which cover me and my business partner for pleasure and business and both our partners for pleasure is £250 per month and includes public liability up to 5million and £50000 for customers cars in our care. On top of this we have our chemicals and advertising all in £1200 per month.
But this is a high risk for starting out without any clients. I've been lucky enough to have taken a big contract from when I left the garage I worked at before going self employed and he covers all my over heads.