How'd you get started?

[Matt_Jr]

2ManyRocks, you are absolutely right. I talked it over with the wife today and instead of renting out a space in town, I'm gonna continue side work in my driveway when it's not raining out and put the extra income towards the candy truck. After I'm relieved of those financial obligations I'll look into getting a small garage out in town. I can stay busy on the weekends with the work I have lined up now, so I'll keep that up for now so I don't stress the finances even more. Your right about the lean times. I havn't eatin' lunch at a restaurant in several months 'cause I'm paying extra to the tool truck. The wifes leftovers are better anyway.

 

[EddieWalker]

... and put the extra income towards the candy truck. ...

What is the candy truck?

Eddie

 

[Matt_Jr]

What is the candy truck?

Eddie

Tool Truck-
Snap-On, Mac, Matco, Cornwell. They keep a bowl of candy on the truck. haha. Who could pass up a $40 wrench when there's a fireball in the bowl?

 

[rcrcomputing]

What is the candy truck?

Eddie

Thank god someone asked..

 

[AlanB]

Matt, your current plan sounds like the best course to me. I would also keep my eyes open for "deals" that come along that you truly NEED, (write a list) and continue working to have your own shop equipment.

Sometimes competing on the side with your boss can be very dangerous. Make sure you have a backup plan.

Have you considered speaking with your boss about advancement, buying in, or other options to move up where you are at and become more of an owner?

I would suggest Steven Covey's book 7 habits of highly effective people. I don't have the quote right, but you will find different ways of thinking about business with various folks . I would suggest that you seek out the others that feel there is plenty of business to go around and are willing to work with you and you with them on occasion. It is always helpful to have others in similar or the same business to consult with on occasion. There will be others out there that feel that anything you do is stealing business from them. I would avoid them if possible.

I would also reccomend finding a CPA if your wife is not going to fill that roll. For our business the CPA is our most important resource. For others it may be a banker or lawyer or something else, but for me it is the CPA.

I would also reccomend sitting down and writing out your weak points. Then work out how you will overcome them, maybe you don't like keeping the records, and you can get your wife to do that part, Maybe you don't like cleaning up and you can hire someone in to take care of that, but have a plan to deal with the parts that you don't like or don't do well.

Good luck. Half the battle is having the plan, again, quoting from Covey loosely, so many of us are going through life where we got in the airplane and took off, flying around, missing thunderstorms etc. etc. but we really do not have a destination we are headed for, we are just kind of aimlessly flying.

Having that defined goal to fly towards (even if it shifts along the way) is crucial to getting there.

 

[scott_vt]

If you want to make a living working for yourself, you have to build up a client base and be able to sell yourself. You say your current boss if making money and turning a profit. It's not that he's the best mechanic around, or knows everything there is to know about a car. It's because he takes care of his clients and they tell others about him. One job will never make you enough cash to stay in business, but one job done well and making your client happy with you can create multiple jobs. That is the secret to going out on your own and staying in business. The rest is just paperwork.

Good luck,
Eddie

Good Mornin Eddie,
That was a really interesting read, thanks !

Matt Jr,
I think you have a great idea, and are on to something that can make you some real income ! Not far from my Ct home, infact the guy is only about a 1/4 mile away, he is doing just what your talking about ! He put up a smallish 2 bay garage with a lift and does all types of repairs ! A lot of brake jobs and tuneups, exhaust systems etc. I kind of think he stays away from transmission overhauls etc because of the complexity, but he makes a great side income doing these smaller jobs ! He also has a full time job, and he does snowplowing and grass cutting on the side also ! If you want to work, threre is work out there !

Good Luck with it !

 

[Sigarms]

Probably, but they'll come around. Could I get fired? Sure, but I'll deal with that when the time comes. But, until that time comes, I'll have to carry a large chest back and forth I guess. That'll make it easier to avoid such conflicts that you mention. Thanks again.

Bottom line, if you take tools home with you that you don't already own, to make money "on the side" in your profession, you're stealing from the person who you work for who actually owns the tools.

People wonder why some larger business can be more expensive than smaller businesses, and one reason is the right tool for the right job costs money. That money has to come from somewhere.

If he asks I'll be up front with him.

Sorry, but if you can't be up front with him (your boss) from the get go, you know you're doing something wrong.

Sometimes competing on the side with your boss can be very dangerous.

From my expereince, if you're competing with your boss in your profession or trade, it's not "can be very dangerous" but "is very dangerous".

Make sure you have a backup plan.

Other than being in the unemployment line.

My suggestion is to be honest and upfront with your boss. What do you honestly think your boss is going to say?

Not sure about the auto mechanic industry, but my trade is a pretty "small world" and sooner or later, someone will find out what you're doing if you're trying to keep it a secret and don't want anyone to know what you're doing other than potential customers.

You mentioned that you lived 40 miles away from the shop where you currently work. Unless this guy (or you) does wonders with anything that comes into the shop at the absolute lowest price "around", how much business do you think you can "take" from him due to the drive time? I just don't see people in your boss's "business territory" driving out to see you for you to do work unless you tell them you do side work.

 

[tallyho8]

After working for a company for 2 years, I was fired for being late. I was mad at first but eventually found this to be a blessing in disguise. I went into business with a partner and never looked back. I retired early after 38 years in a fairly sucessful business that allowed me to accomplish more than I had ever dreamed of and I made much more than I ever would have working for someone else.

It does take a special attitude to work for yourself, you must be able to control your spending and save and put money back into the business the first few years. My partner had to spend the money as fast as we made it and could not control his spending. He lasted one year then I ran my own business the next 37 years. Today he is delivering pizza for a living.

 

[2manyrocks]

My partner had to spend the money as fast as we made it and could not control his spending. He lasted one year then I ran my own business the next 37 years. Today he is delivering pizza for a living.

Good thing he was there only one year.....it can be expensive to split a partnership.


No touchy the boss's tools.

I would not tell the boss I planned to go into business for myself. I assume there are too many mechanics out there he could replace you with.

 

[Matt_Jr]

Thanks for all the replies.

Just to clarify
1. I own all my tools. I'm still paying for some of them but they are mine. Not the boss's, shops or anyone elses. If I leave one at home the boss can't really be mad 'cause he doesn't know about every tool I own, and if I took half of them home I'd still have more there than anyone else has.

2. I don't have to tell him what I do or don't do on the the weekend or weeknights. When I leave work it's my business, but if he asks I'll tell him. I'm not competing with him. The neighbors and friends who's cars I work on wouldn't drive that far anyhow. I'm not trying to keep it a secret but I'm not broadcasting either.

3. My boss is only interested in making money for himself. He's not interested in a partnership, and I've tried to do extra at work-stay late and work weekends, help others including him, and it leads to me pretty much working a lot more for a little more(not worth it).

4. If I was forced to look for other employment I have two other places that would hire me back(I left on good terms) and spoke to recently just in case.

What makes me confident is I do a lot of electrical diagnostics. I can always find a short or broken wire. It's my specialty. I've been hired by other shops to fix stuff their techs couldn't figure out. I'll do pretty much anything.

I'm just tired of being held back, that's pretty much what started this whole thing. Thanks for all the feed back. You guys really do think of it all. That's why I asked on this forum. I think if more people knew about TBN they'd buy tractors just so that they could post.