Advice on a new business idea

[Rob-B]

I am thinking of a change from an office job to doing two hobbies which I enjoy. I was thinking of offering a service which done the following:

• car breakage parts - specifically one or two brands of car not sure
• car valeting
• selling cars

The idea was to sell and stock say two car brands Mini. I was also thinking that I could offer car valeting, and also service/sell cars. I am just after an idea of whether its too ambitious or too many options. I just fancy a change from my stressful office job. Any ideas/advise welcome.

 

[Ava Williams]

"Choose a job you love, and you will never have to work a day in your life." - Confucius

On a side note, I would recommend doing one thing (like selling cars), and doing it really well.

 

[Rob-B]

Thanks, i have tried selling cars in the past, but found it very tough going. What are your thought on selling car parts on ebay. The car valeting I have also done before.

 

[Scalloway]

If you are planning to but cars and sell parts from them you will need a licence.

http://www2.eastriding.gov.uk/busin...s/commercial-trading/motor-salvage-operators/

 

[webgeek]

Imported muscle cars from USA, mmmm, mmmm, goodness.

 

[Brennerz]

I'm not going to say you can't make money breaking cars, you can. Personally I would class it as high risk. You need a large amount of space and be prepared to keep things on the shelf for a while. As you will know you can't break a car in a day, so you need plenty of space if you want to work on multiple cars.

Something else you will need to be prepared for is customers ordering the wrong parts, okay on used items I think you can refuse returns, but you don't want unhappy customers - especially if you were to sell on eBay.

Do you have an idea of the budget you think you would need to start?

 

[webgeek]

There are some models of higher end vehicles which virtually ALL have a common problem, like the mini cooper convertibles who have their retraction cables stretch/break and need replaced, or that same model which has a problem with a body seal that goes halfway around the back of the car. Both these parts are crazy expensive and have a lot of people searching eBay, since the dealer prices are well beyond crazy expensive.

You could either sell the parts used, after breaking, or buy new aftermarket and sell for a nice profit.

There's a lot of parts being sold via dropship. So, new parts don't have the space and inventory requirements of a breaker, plus they generally have a better perception in the market, less returns and can be run with a website equipped with an ecommerce package, from virtually anywhere in the world.

 

[Clinton]

I just fancy a change from my stressful office job.

Everybody does. That's why so many get into the comfortable life of being a business owner working 9 - 3 without having to worry about where next month's pay check is coming from.

Oh, no, wait, that's not how the typical "I started a business 12 months ago" thread goes.

A lot of people fancy themselves as business people. A few take the leap. Only a small fraction of those will cut the mustard. Most are abject failures.

So, think carefully, plan well, seek expert (paid) advice, make sure you well funded, keep spare cash for emergencies, then think twice again about going into business.

 

[mw40784]

Nice idea, Things to keep in mind before start your own business.

• Write a Business plan.
  
• Prepare for everything and anything.
• Think about your exit strategy.

Best of luck

 

[Deleted member 268094]

I'd suggest giving each of your 3 ideas a trial run alongside the job. If you can get them to work whilst holding down a job then you can switch to full time in a very healthy position. If none of them work par time or you simply don't like the realities then very little is lost. If you have enough cash in the bank to give yourself a run at it full time and in a job you could jump back into in a year or so then do a feasibility study for each and make a choice. I know for a fact all 3 can work as a side job but it depends what you want out of it whether it's going to work for you.

 

[Rob-B]

Thanks for all the advice. I will have to give the car breakage some thought. There is a lot to it, I may try and buy a test car, there are a few on ebay that are less than £1k. I have family that have a unit with some land that I could use. So that maybe worth a try.

The valeting I have done before, it was good, not so fun in the winter. I am just looking at doing something different, and always being busy.

 

[Deleted member 268094]

The car breakage test sounds like a good plan. Also I have a friend who used to to car valeting who switched to doing carpet cleaning in part for the reason you mentioned. He's much happier since making the switch (about 2 years ago). Would also fit the criteria of doing something being different and always being busy although at a guess not so much a hobby you enjoy

 

[Plumb Spares Direct]

Can't emphasise enough about creating a business plan (notice I wrote creating and not writing '-)), Don't gloss over that or pretend it's not useful. It is the SINGLE most important part of starting up, trust me on that.
I hear that selling 2nd hand aircraft parts is VERY lucrative.......do some homework and understand what I am saying and why