Business Opportunity?

[HunterdonPaul]

Its not what you think! Don't send me any money and expect a real estate seminar on video tape....

I just want some advice for my wife...

My father-in-law was a mechanic his whole life. He bought a garage on a busy state highway here in NJ in 1960. The place is ideally situated on two acres of property. It has a 5000 ft2 garage (4 or 5 bays) and a nice office. It has plenty of outside storage. The highway is VERY busy these days and this place would lend itself to just about anything.

He and my mother-in-law are retired and have rented it out for the past 12 years or so. The renters were not so good but they mostly paid their rent. It seems that the building will be vacant again sometime very soon and my wife thought it might be a good opportunity to start a small business (by herself, not with me). Now my wife is very smart. She can do about anything should puts her mind to - I have never actually seen her fail. She asked me what type of business might do well here. I thought about it and said that a tool-rental business couldn't fail. There isn't any tool rental places within 8 to 12 miles. It is getting very dense here - lots of people. Homes are expensive but people still do alot of work themselves. She likes the idea and is considering looking at a Taylor Rental franchise or something like it. So she wants more ideas. She has many interests but doesn't cherish any one (motorcycles, fast cars, bowling, art, roller blading, and many more) She is always interested in helping the community but also needs to pay the rent (inlaws still need income). She has thought of a florist, bike shop, rental car and some other bizarre ones.

And so I thought that I would ask you what you thought. What other types of businesses might thrive in a 5000 sq2 garage on 2 acres that has alot of traffic. Of course there is the obvious choice - a garage or service station but she isn't too interested in that. She doesn't want the initial investment to be too high (about a Taylor Rental Franchise amount).

What do you think? Any ideas would be appreciated and communicated to her.

Thanks,
Paul

 

[Kodiak]

Well the obvious idea would be to convert it to a New Holland dealership.

Actually If it lends itself to a showroom possibility. And your wife likes fast cars. How about a consigment lot for antique, classic and muscle cars. Or my favorite Antique Tractors. With a consignment lot you don,t have to worry about owning or financing a large inventory and you still get a monthly residual for allowing the items to stay there, as well as getting a commission on every one that you help sell. You could also stock and sell new old stock items for the cars as well as aftermarket items and memorabilia.

 

[Kodiak]

Another great idea has just started rattleing around up there. How about some sort of hobby shop garage. People rent bay space from you, by the hour or day, to do work on their own vehicles themselves. You own the bigger items such as floor jacks, engine hoists, etc. They supply their own hand tools. Of course you could rent them some of the specialty tools that they might need. And have them sign a waiver releasing you from any responsibility from accidents that they incur. And a damage deposit to protect your possesions, plus to insure that they clean up after themselves. I know this was a very popular concession on a Coast Guard base that I lived on years ago.

 

[Alan L.]

Auto parts store (sizeable investment)
Lawn and garden equipment dealer (mower shop)

 

[micromike]

Problem I see for a rental shop is a lot of money to get started (buying tools etc. to rent) and Hireing someone to do maintenance for same.

I've often thought of starting a Landscape supply type business. Annuals and vegitable plants in the spring and summer, pumpkins in the fall, christmas trees until Dec. 24th. and then kick back and relax until March or so! Very little overhead to get started.

Depending on your interets you could also have a florist shop, paving stones, concrete lawn ornaments, mulch and pea gravel by the bag or bulk, planters, house plants, Ornamentals for the yard such as evergreens and other shrubs and trees.

Granted you might have to fence off an area, but hey, you've got the acerage! Maybe even build one or two of those plastic covered greenhouses and start your own vegies and annuals for a bigger profit.

The key here as I see it is relatively low startup costs, low overhead and low maintenance. Start small, grow as big as you want over time or keep it small.

Good topic! Please let us know what you decide and why.

Mike

 

[bgott]

A rental business might work if you don't have a Home Depot too close, or one coming in. They have killed a couple of rental businesses around here. You might think about a U-Haul franchise. You also have have enough room for a Nursery, although I don't like the idea of dealing with stock that can die. Feed store, maybe? I wouldn't get into anything that was dependent on skilled help. If you open a motorcycle shop and your ace mechanic goes on a two week drunk you're screwed. How bad are your zoning laws? In some places in California things are zoned so tight to change from an auto repair shop to a boat repair shop takes a variance. A lot of hoops to jump through and big bucks! I know a guy here that started a small engine repair shop behind his auto parts house. He goes through a few mechanics but seems to keep his head above water. Auto Zone almost killed him but a PPG paint franchise and the small engine franchise saved his butt.He's starting to stock mowers and Echo chainsaws and such. I guess you would have to think of something where you have very little possibility of a large corporation building next door and blowing you out of the water.

 

[Von]

If you really want to make some big money, open an adult bookstore! I know it wouldn't be for me, but I know a guy who owns three of them. He makes about $30K in sales a week and never steps foot inside of any of them!. He can check on them anytime of the day with his computer! Plus its in a corporate name so no one knows he owns them! Just one more thing to think about!

 

[njrqs]

Car Wash/Grooming centre.

Might be big inital cost though........

Just "my 2 bob" as us aussies say !

Cheers

 

[snowman]

Why not continue to operate a garage there? If your father in law made a good living at that location and the tenants did too, should just keep it going, especially if alot of the equipment is still there, useful, etc.


From the standpoint of a customer, I've always felt that auto repair business are a good steady business. Whenever I go to Goodyear or Pep Boys or whereever for a repair job, they're always busy and you need to make an appointment and bring it back later. That, to me, means there's good demand.

There will always be the demand, since cars aren't going to disappear soon.

 

[Anonymous Poster]

Retail sales is a tough game. If you get in it you'll remember those words. Two acres is a decent size lot, what about a car wash, self storage units, or laundromat? What about continuing to rent it, commercial property can be a profitable deal. I always wanted to try operating a "rent a garage". My idea is to offer shade tree mechanics a simple garage with a workbench, vice, power, and air. Something like 4 separate garages under one roof. I envisioned renting by the week. I just am not sure if people who don't have a place to work on a car, would have enough money to rent a garage.

 

[HunterdonPaul]

Actually, in my case it would be 100% chance.
/w3tcompact/icons/smile.gif

On a serious note, I wouldn't want to support this type of business in my community. I'm guessing having these sort of businesses close by does not improve surrounding property values, but thats just my hunch....

Paul

 

[jimmoore]

Paul, try this idea. A building about that size in a town down the road has booths set up where people place their crafts for sale.The only investment would be some plywood dividers for the booths and isles. Only one person works there, they collect the mony for items sold. They charge a rental fee for booth space and collect a percentage of the sales. They do a thriving business. They have everything from home made quits to wood crafts. also some antiques. The persons that are selling their goods there have to set up their own displays and keep their areas clean. If I get back over that way soon I wil send you some pictures

 

[Von]

Hey, Like I said its not for me either, but they do make tons of money! and I think that was the goal here. I was floored when I heard how much You can make in a week in one of those smut shops! Maybe Paul and his wife could work it together!/w3tcompact/icons/smile.gif Hey might be good for a marrage!/w3tcompact/icons/laugh.gif Or They could open an antique shop, but thats alot of work and you need to know what you are doing, or you will lose your shirt very quick!

 

[Chuck52]

We have something like what Jim describes here, though it tends to be more "antique" stuff than arts and crafts. Must be doing OK because they opened a second location and they have imitators too. It's kinda like a permanent flea market. I've bought a couple of things there, like some tea cups for the wife's collection, and some marbles to replace the ones I've lost over the years. Given the store front, it doesn't look like a high overhead operation, since all the goods belong to the folks who rent the spaces.

Chuck