business talk...

[eli07 10+ year member]

It looks like the lounge is where most people come for them unique questions not assosiated with car-audio so I thought I would start off here. I got less then 60 hours before I can graduate in "busness and adminitstration." I've been outlooking several differnt types of business, and looking at differnt aspects and goals I'd like to achieve. My parents run a business localy so I know more people then your average. I've talked to a loan officer, my credit is almost perfect for a twenty three year old, never missed a payment on my car nor my motorcycle. I've talked to a few differnt professors about ideas on something I'd like to do. The big guy at the bank that my parents deal with said he could get me approved for around 65,000.00 once I got out of school. //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif But keep in mind I'm 23. I dont want to get in over my head so I've kept thinking about it and looking around. I have several hundred ideas written down on paper and narrowed it down to this plan. Let me know where I can make improvments.

Business Type: Car Window Tinting

Number of trained tinters other then myself: (1)

Loan Amount: 30,000.00

$10,000.00 in tinting supplies

$10,000.00 in building (building rent for a year)

$10,000.00 (Promotions/Advertisment)

I thought about doing some huge specials, like $75.00 tint day, and etc to bring people in and business. (I remember when it cost $75. to get a car tinted in the day, and I wish it was like that again. Also had an idea to set something up with car dealerships for every car they sold a customer got a free tint job.

Give me some ideas guys. Thanks

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[maroj248]

congrats on graduating soon.

 

[crunktimes.com 5,000+ posts]

you spent all those thousands (maybe hundreds of thousands) of dollars on college so you could tint windows?

If I was going to tint windows I would rent a pay somewhere, buy some supplies and advertise a little. That way when it fails (remember most businesses do, at least the first time) you are not stuck paying off a loan..

 

[Blados 10+ year member]

Where do you plan on opening this shop?

 

[ngsm13 5,000+ posts]

Where the hell do you live where you can get a business zoned building for $10k a year?

Sign me up...

nG

 

[Anotherguy 10+ year member]

I think your estimate for building expense seems low. You have rent, power, phone, fax, internet, cable (if you have awaiting room) some places charge for water, trash and snow removal (depending where you are)

You will need to hire somebody to at least answer the phone, set up appointments and handle general customer traffic.

I think you can get away with a whole lot less in advertising. If you do good work, word will travel fast.

 

[DB_DRAG_SPL 10+ year member]

Horrible business plan, you're going to sink all of your original loan amount into assets and have absolutely NO operating capital. What happens when you're first month of invoices and bills come in and you haven't done enough business to keep the lights on? What happens when your customer base is depleted?

ANY good startup business draws up a business plan on a 3 year schedule, if you can keep your head above water for 3 years, you have a decent chance of staying in business. Most startup companies fail within the first year BTW.

 

[ngsm13 5,000+ posts]

Horrible business plan, you're going to sink all of your original loan amount into assets and have absolutely NO operating capital. What happens when you're first month of invoices and bills come in and you haven't done enough business to keep the lights on? What happens when your customer base is depleted?
ANY good startup business draws up a business plan on a 3 year schedule, if you can keep your head above water for 3 years, you have a decent chance of staying in business. Most startup companies fail within the first year BTW.

Truth.

nG

 

[Randy Savage 5,000+ posts]

I think your estimate for building expense seems low. You have rent, power, phone, fax, internet, cable (if you have awaiting room) some places charge for water, trash and snow removal (depending where you are)You will need to hire somebody to at least answer the phone, set up appointments and handle general customer traffic.

I think you can get away with a whole lot less in advertising. If you do good work, word will travel fast.

Not to mention the high amount of maintenance and repair costs to get a building up and operational.

You know how much it costs to get an electrician to wire or fix a shop? Or a plumber?

 

[eli07 10+ year member]

Yea 10,000. is a little much in advertisment, especially after going through all my parents businesses and learning how much volume just flyers and specials can bring in. And the $10,000.00 a year is for a very small building. It use to be a drive through car wash, (like you see at gas stations.) I know the owner also and have talked to him a little and my parents have done business with him so that helps out. On the loan I'm thinking of maby $10,000. for a years rent, and $5,000. for supplies.

Thanks marjo.

And toasted, I dont know if you've been around the business scene or not, but if you haven't realize you have to start somewhere. I'm young. Most busineses fail in their first attempt if you haven't learned that, I cant afford to go out and get a 100,000.00 loan then have a business fail on me. In all hopes to god, I hope my first doesn't fail, but theres always that change. Either way I will learn more from it for next time.

 

[eli07 10+ year member]

And please dont let this turn into a flaming thread, this is all just for help. I'm not getting mad if any of you throw negative or possitive information out there. It's to learn.

 

[crunktimes.com 5,000+ posts]

and toasted, I dont know if you've been around the business scene or not, but if you haven't realize you have to start somewhere. I'm young. Most busineses fail in their first attempt if you haven't learned that, I cant afford to go out and get a 100,000.00 loan then have a business fail on me. In all hopes to god, I hope my first doesn't fail, but theres always that change. Either way I will learn more from it for next time.

Sorry man I was not trying to put you down, I have done 4 businesses myself with the latest starting in 2002 and currently making me about 80k a year (not including about 30-40k a year in shit to keep it running) but I guess my thought was tint seems like something you could start very small with (in a bay as I mentioned before, I know many tinters who started out this year) and that way if things fail or if they are slow you are not in over your head with loans.

I have opened a store(both selling pagers back in the day and computer repair about 7 years ago) and they both kind of failed, I did not take a loan out on either but I was stuck with a 2 year lease at one place so I ended up making it a 'chill spot' for 1yr 9months that cost me $400/mo.

Anyway good luck man, if you need any help with the tint stuff I can give you the name of a guy who might be willing to talk to you a little and give you an idea of what you are looking at and maybe some tips on the way to go about it.

 

[DB_DRAG_SPL 10+ year member]

Just trying to help you along man, I know how hard it is to get a business off the ground.

Since you are graduating already, why not pursue your career and purchase a house with a couple larger garage bays or a large detached garage. Start your business there and work your way up, as business starts to pick up and you have a positive cash flow into it, THEN go out and find a building and expand your business. That way, you are putting money into something that will build equity, and if things don't work out, you won't be $30-40,000 in the hole fresh out of school.

Why not diversify your business also, pick up a vinyl cuttter, a computer, and build a relationship with a vynil distributor for your materials. It will pay itself off very quickly and you can cut and sell vinyl in your downtime for extra income as well.

 

[eli07 10+ year member]

Thanks guys, both of ya'll really helped me out. I've been working two shift jobs for the last two years, hence I bought my toys used, so their paid off. I've set some goals and have some aspects on what I want to do with my life. First building my house which is also a top priority of my girlfriend. (She graduated last year, and is working at a local bank making decent money.) I have about 14,000.00 in the bank, also have a 4,000.00 motorcycle I'm about to sell to a buddy of mine. I thought about tradiing my bike for one of these http://austin.craigslist.org/car/470224779.html

and spending a couple thousand on rolls of tint. I've already got the tools needed. Then I wouldnt have to use much of my savings, and I wont have much in it if it fails, all it could do is make money?

 

[Eugenics 5,000+ posts]

you need 10,000 in equip to tint windows? crazy.

why not find a caraudio shop that does installations for a car dealership then make a deal with the owner so you can do tint installs in his bays, giving him a cut. you both win. he can offer more services giving himself a cut as well, and you get the money without having to worry about the back end of the deal.