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[kmanian 5,000+ posts]

I'm not in the business, but I've been around it enough.
I think it "could" be a good idea to open a shop. Lots of things considered, I think it's possible. I live in a small town of about 40,000 or so, and the shops around here are still banking. My buddy who owns Pro Sound is one of those guys who's 50 going on 16; been in the game for 27 years; he's like a zeirbox.

Has the best customer service, doesn't talk at you like you don't know shit, and he'll do any type of install. He'll even do other equipment people bring in. He hasn't slowed down in last 3 or 4 years.

I think if you keep it pretty universal and not just big installs you will bring a much wider customer base. More people would feel most comfortable to go to you.

As far as the economy...I always think that even though everyone seems to be in bad financial situations, the accessory and aftermarket segments will ALWAYS have customers because people are ALWAYS looking for salvation in tangibles.

even in bad economies thing go on. with 10% unemployment 90% of the people are employed! they may be more frugal, but employed. I believe ( have a theory) that americans have seen the light with the auto industry, and will be keeping their cars longer. this will inturn increase the demand for aftermarket add-ons, because they will still want that feeling of newness. I personally believe that the aftermarket world will in the next 12 months see a increase in revenue beyond the average growth nationwide.

then if and when this recession is over with, watch out! the buying will be crazy! People have an need to reward themselves after fasting and doing without. And reward they will. it is jsut when!

 

[kmanian 5,000+ posts]

90% of new business don't make profit during the first year.....so don't get yur hopes up with /$1500 a week
and I'm in construction management and will also be getting a degree on the civil side. I know some people who are actually goin out of the country for a job. I was actually just doin an estimate for nashville, tenn today and ****....it's cheap down there, material and labor is much less than national average,

If you wanted to stay in construction then maybe look into the civil side. Many jobs in the future will be for civil projects due to government funds.

making a profit and getting paid are 2 totally different things.

and infact it is 90% of upstart businesses don't make it past 2 years, and you shouldn't expect to be in the black for atleast 3 years. However, payroll and other expences are not a part of parofit.

As for construction, I appreciate the advice about going civil, I have been there and really don't think it is my cup of tea. I am **** good at what I do, but have to wait until the clients feel comfortable enough to invest in their properties again.

 

[quest51210 10+ year member]

i did sales and install at quite a few shops and big box retail. i always made a good living

 

[kmanian 5,000+ posts]

i did sales and install at quite a few shops and big box retail. i always made a good living

Are you in the biz now?

 

[kmanian 5,000+ posts]

I am hoping to get some feedback from some of the guys that have a vested intrest in the industry, if possible.

 

[Worlddre 5,000+ posts]

Ive been in the industry for a few years now and have a few friends in it as well owners and installers alike. Opening a shop unless you already have the clientele and plan on having referral based business is a bad idea. Ive watched most of the shops in the cities ive lived in over the past two years go out of business and those that have stayed open have not relied on walk-in business.

http://www.benchmarkmotoring.com/index.html

The guys at Benchmark are exactly what im talking about. They are located on a very low traffic street about 1 mile from Car Toys and have only been open for 3 years and yet they are going strong. All because of referral based business.

 

[528hz 10+ year member]

[/b]
even in bad economies thing go on. with 10% unemployment 90% of the people are employed! they may be more frugal, but employed. I believe ( have a theory) that americans have seen the light with the auto industry, and will be keeping their cars longer. this will inturn increase the demand for aftermarket add-ons, because they will still want that feeling of newness. I personally believe that the aftermarket world will in the next 12 months see a increase in revenue beyond the average growth nationwide.

then if and when this recession is over with, watch out! the buying will be crazy! People have an need to reward themselves after fasting and doing without. And reward they will. it is jsut when!

Exactly.

 

[kmanian 5,000+ posts]

Ive been in the industry for a few years now and have a few friends in it as well owners and installers alike. Opening a shop unless you already have the clientele and plan on having referral based business is a bad idea. Ive watched most of the shops in the cities ive lived in over the past two years go out of business and those that have stayed open have not relied on walk-in business.
http://www.benchmarkmotoring.com/index.html

The guys at Benchmark are exactly what im talking about. They are located on a very low traffic street about 1 mile from Car Toys and have only been open for 3 years and yet they are going strong. All because of referral based business.

I agree to a point, and I do and will have referal business.

It is definately a risk, if I decide to make this move.

 

[kmanian 5,000+ posts]

Exactly.

Your jsut agreeing with me because you want my TL:laugh:

 

[dropped_mazda]

I just recently left the Residential contracting and took over a stereo shop and seems to be pretty busy we do tint remote starters alarms and audio so there is still a strong demand for audio with the way things are with the economy around Fargo north daokta now we a lil slow but thats due to major flooding everywhere but its still a profitable biz man

 

[jeepintn 10+ year member]

i have realized one thing in my trips to many many shops in our area, and its that people here dont want to spend good money on QUALITY equipment and installs, they would rather buy a "1000w" x brand amp and have it installed by "a friend who does radios"

 

[kmanian 5,000+ posts]

I just recently left the Residential contracting and took over a stereo shop and seems to be pretty busy we do tint remote starters alarms and audio so there is still a strong demand for audio with the way things are with the economy around Fargo north daokta now we a lil slow but thats due to major flooding everywhere but its still a profitable biz man

Thanks,

I was in the retail business years ago, I sold MTX, Orion, USD, Autotek, stinger ... back when they were made in the good old US of A! Back then it was a good business, not as complicated with all the OEM stuff, but for the day there were challanges.

Being that I am basically starting over in life, My wife agrees if it is feasable I should try and make a career out of what I love and is my true passion. Truth be told, I realistically am not going back to school to get a PHd, and would hate to be stuck in a office. So if there is a chance of success and the numbers work out, why not? I guess because I could lose my a$$. Well building a $650,000 spec home hasn't worked out either! A custom auto shop would be a much smaller investment than that!

Obviously I am leaning pro the move. But more information is always better.

Thanks for all the input so far guys. Keep it coming!

 

[kmanian 5,000+ posts]

i have realized one thing in my trips to many many shops in our area, and its that people here dont want to spend good money on QUALITY equipment and installs, they would rather buy a "1000w" x brand amp and have it installed by "a friend who does radios"

I believe this is definately the case with the majority of walk in type of customers.

 

[kmanian 5,000+ posts]

any other thoughts?

 

[528hz 10+ year member]

Your jsut agreeing with me because you want my TL:laugh:

No...you just said exactly what I had posted previously, but in different terms //content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gif