Car Recovery business -

[CrazyFitness]

So I am turning 24 this month and I am getting fed up of working at my current job, I am looking at starting my own business and need to ask some questions. Would love to hear some opinions and options you lot could suggest.

So basically as the title states I am wanting to start a car recovery business and then venturing out to call out for tire repairs and stuff in the future.

My logic is I want to start and try this adventure while I am young and while I’m still at home with family so if anything does go wrong I’m not going to end up with a lot of issues and having to worry about paying off my house or anything like that.

• I haven’t got any money to currently invest into the business and was wondering would you guys suggest a loan? Or how would you go about starting a business with no capital to invest at the moment

• This business will require a lot of outgoings before getting started which is my main problem I will need a lot of capital to get going which is why I wanted to hear you guys thoughts on getting a loan to pursue my dreams

My head has sort of gone blank at the moment so once I can figure out some other things to ask I will update but any help right now is appreciated.

 

[Mark T Jones]

So I am turning 24 this month and I am getting fed up of working at my current job, I am looking at starting my own business and need to ask some questions. Would love to hear some opinions and options you lot could suggest.

So basically as the title states I am wanting to start a car recovery business and then venturing out to call out for tire repairs and stuff in the future.

My logic is I want to start and try this adventure while I am young and while I’m still at home with family so if anything does go wrong I’m not going to end up with a lot of issues and having to worry about paying off my house or anything like that.

• I haven’t got any money to currently invest into the business and was wondering would you guys suggest a loan? Or how would you go about starting a business with no capital to invest at the moment

• This business will require a lot of outgoings before getting started which is my main problem I will need a lot of capital to get going which is why I wanted to hear you guys thoughts on getting a loan to pursue my dreams

My head has sort of gone blank at the moment so once I can figure out some other things to ask I will update but any help right now is appreciated.

Sorry to be the cold water man, but this is a non starter without both capital and contacts.

It might help to understand why you feel that this is the right business for you?

 

[CrazyFitness]

Sorry to be the cold water man, but this is a non starter without both capital and contacts.

It might help to understand why you feel that this is the right business for you?

I work a full time job money isn’t exactly an issue but it’ll take a couple years if not a few years to raise the money. I can raise the capital if need be but just looking for the fast route(probably not the best idea) of taking a loan but obviously was asking what you guys think of this idea. I was thinking of just going full deep into this straight of the bat and doing it as soon as possible.

I know a couple people in the business already who I can ask questions to regarding actually doing the job and I also have family members in the car repairing business so possibly gain some attraction or jobs from them if they ever need it or one of there customers does, I am also willing to invest heavily into marketing and seo, pushing the business in my area and surrounding areas.

I have always been into cars which is one of the reasons for choosing this as an business adventure, but also the fact that I don’t mind driving far distances and just overall something I think I would enjoy I didn’t want to choose something that would later on get me thinking if I choose the wrong business to dabble in.

Im not an expert nor do I know a lot about running a business which is why I’m here to find out and ask, so I appreciate your reply and can’t wait to hear back.

 

[fisicx]

You need to start here and get qualified:

IVR Training

www.theivrgroup.com

And then apply for a job with an established company. Once you have sifficient experience you can venture out on your own.

 

[Mark T Jones]

It's good to have ideas and throw them out there - you will get useful feedback

In this case, leaving aside the hefty capital outlay (a loan, with nothing to supporting is pretty much a non starter) you need to think about how you will get a reliable flow of business

Head contracts rely on good contacts plus a decent infrastructure. You might puchk up work as a sub-sub contractor (subbing to the guys who have the contracts with local authorities, Green Flag et al), but it won't be reliable work

Possibly roadworks contracts, living in a caravan on 24 hour call out.

Other than that, where will work come from?

In reality, you need a lower cost start up.

 

[MJD12]

I considered starting a similar business last year. I tried my luck at flipping cars last summer, hiring a self-drive recovery truck a few times for £125 for the day. The advert I found through Ebay, from someone who did it as a side hustle. Although I lost a lot of money on the car flipping, the self-drive recovery truck hire I found an interesting model. I worked out with all costs I'd need 1 hire a week to cover my costs.

I don't think you should throw the idea out straight away, but with the financial risk involved you need to think long and hard. Don't rush into anything taking out loans etc.

 

[Paul Kelly ICHYB]

Get a job in the industry, on the road.

It might end up you do not like it and would have wasted money and funds if you dived in.

BTW, starting a business where you have no experience, knowledge or general interest, in most cases, ends in failure, especially if you do not have funds to buy those traits.

 

[DoolallyTap]

This is just so NO.

 

[Gecko001]

Get a job in the industry as has been suggested. That will get you the contacts as well as experience.

 

[BaileyLeblanc]

Cars don't get into accidents very often now. In addition, there are probably already similar businesses in your area. I would not start such a business.

 

[Mark T Jones]

Cars don't get into accidents very often now.

I'd love to see the evidence behind that

 

[JEREMY HAWKE]

I'd love to see the evidence behind that

I have seen the evidence against this claim Copart have acres and acres of insurance write off in sites all over the country along with the busiest auction web site in the country and they are selling stuff that has been smashed up on the road . Its a massive business
The roads are closed most days as people like driving into each other and also enjoy driving into crash barriers and ditches