Originally posted by Buckshot77:
Russell,

Don't shoot yourself in the foot. It's great that you can work as a mechanic and do well at it, but owning a shop is a completely different monster. Have you taken the time to do an actual honest business plan, cash flow estimate, income statement, etc? If you want to have a better chance at business and at getting a loan, you'll need to have these things. I've really looked hard at opening my own shop and unless you intend to either employ 10 mechanics to help pay the bills or work long hours for low pay with only yourself being the mechanic and all the office work, you won't make much money if any. There are tons of costs involved that people don't really think about. 5 months at a mechanic shop won't endear you well to getting a loan to open a mechanic shop either. Are you an ASE certified tech? If not, then there's one other strike against it.

In all, I say keep looking for a better computer job and consolidate your loans. If you really want to have your own shop, start working on a business plan and make sure it will realistically make money otherwise you'll get even further in debt.

Last, but not least, DO NOT go into business with your buddy, especially if his credit is worse than yours. If you really want to work with him, you own the business and hire him as an employee. You don't want to get roped in with someone else who can't make their own bills in a business as you'll end up owing for their portion of the bills as well.

Rick


Exactly what he said. Coming from me it don't sound like much but opening a buisness in debt is hard, even doing one not in debt is hard. I work for a houseboat rental place and my boss pulls in $15k minimum a week. after 4-5 months of buisness, he only makes 80-100K after expenses are paid. 2 totally different buisnesses but just showing that no matter what, you will pay tons in expenses. And get taht nice car running decently if it isn't and stop there until you get money. But I wish you the best and good luck.

95 LX-with a mind of its own 24v DOHC SVT exhaust and K&N=all thats worth modding Go Fighting Sioux!!!