Who in the North east coast want's to start a Mustang business?

[Pakrat]

I dont' know about anyone else, but I am tired of working for the man. I always thought that one day I would sell my cartoon idea and retire early but after 6 years of trying to find the time to work on it and make a living and have some type of life it just ain't happening. The only other thing in my life I have any type of passion for is Mustangs so I figure why not. I mean there are like no types of specialty places from Connecticut to Maine, not a thing at all. It just seems to me that if you could get like 5 to 6 guys together who know and love them to quit their jobs and all be equal partners you could likely make a go of it with the right location.

If anyone would even be remotely willing to consider a venture like this chime in and let's here what you got to say because I am serious about this, I just can't do it myself.

 

[1965-Mustang]

That sounds like an excellent idea since I live in Lee NH right near UNH and have no place around to get performance parts at for my stang. I am only 16 though. Sounds awesome to me, there are a lot of stangs around here and in Maine. Also this area is not poor either .

 

[chepsk8]

Pak,

I do not have the financial resources, but am always interested in that. I used to know a character in Nashua that ran a Mustang shop years ago, his name was Ray, and I may still have contact info on a gal who does great upholstery in Vermont...

Keep talking.......

 

[302 coupe]

I had thought much about doing the same thing. Me and a group of college buds had thought seriously about it. We were all engineering grads and we all liked working on Fords, plus the 6 of us were all good buddies. If you need money to get started it shouldn't be much of problem, venture capitalists will make you a loan so long as they believe you'll succeed-and it sounds like you've got good reason to. The problem is, owning/running a business takes over your life, your hobby becomes a full time job and you will get tired of it. Plus, business has a way of ruining friendships. Ex. - the biz is in a slump and one of your partners does an otherwise expensive job for a friend, gives a hefty discount because he knows them. But, the business needs money, and your partner just prevented you making it. An argument ensues, tensions rise, now there's trouble with a friend/co-worker/partner/employee all in one. And what happens if you do some work on a car, the car is then wrecked, and they try to blame you-lawsuit time, which brings about costly insurance. Lets not forget all the bureacratic hassle- zoning, regulations, liabilities, taxes, etc.

I'm not trying to be pessimistic, but thats the way it is these days. If you can handle it, that would be awesome. Be prepared for some tough times though.

 

[jikelly]

I want to open a road course but lack funds and probably any buisness sense. As 302 coupe pointed out you would be facing a lot of potential pitfalls, but if you got a mustang buisness going I bet it would be great fun and rewarding.

 

[chepsk8]

Pak,

I remember years ago when I had "Benchracers LTD.", you can become a vendor for some of the Mustang parts, like Colamco (Upholstery), wholesalers of parts, etc.

I looked at it, but did not do anything many years back.

 

[stang976]

yea i would make a killing if i can open up a track in my area...there are thousands of racers with no where to race.

 

[Pakrat]

Oh I have no delusions about it believe me, I know the pitfalls and bumps in the road but I also know that I have no issues digging in and working hard, especially if it is for me and not a stock holder some where. I'm not as concerned with finance, I don't plan on liquidating my savings for sure, but there are alot of new business incentives and my wife is a banking big wig. If it is a true equal partnership thing than hopeully no one would be cutting a deal for a friend w/o all approving of it. I see it as say starting up by using our own rides and polishing them up so you have some finished cars that are available for sale or at least some advertising of what you do, and offering a two fold plan, bring in your own ride and get a qoute for what you want or have your pick from a stable of mostly done primered and ready to paint cars in your choice of color. Of course it is slow until you get some satisfied customers out there, but you can keep your margins tight at first to sell great cars at good prices and in addition you can offer service to any year Mustang really and have your specialty too. I think if you work out a hierarchy between those involved first you can avoid alot of issues. For example, while I am a handy and capabe guy with alot of common sense my knowledge is limited to my current experience so the selling and PR work is probably better suited to me so if Guru's like Chepsk8 and Worth were interested, they call all the shots regarding technical whenever there is a difference of opinion, no questions. They point and direct and I'll turn the bolts. To me the hardest part is coming up with the starter stable. You need some models of each year to offer as a start and that can take some searching and capital that won't be returned right away. The rest is easily worked out as we have the best connection already, Stangnet. For example, I'm sure someone like George would be willing to work out a deal to have Florida Mustang be an exsclusive parts dealer to the company. If you can network properly and arrange to show some cars at the local Stang show I think start up can be easier than most new businesses. Winters are the killer up here but spring fever should balance the year out so hopefully you do more restoring when cold and more selling when hot.

 

[oboebrian]

I always wanted to open a shop like that here in az, even after working in a mustang resto shop for months (quite because the owner wanted to take tons of shortcuts). Too bad you're on the other side of the country. Get a good business plan down and focus on one major aspect. For example Whizco (doug) on VMF is starting his own shop in CA, specializing in high quality fiberglass and custom plastic molding along with the normal assortment of parts. Also george on here and dolfphin and his new suspension set up (great oportunity to retail his system if you can work it out). I have tons of contacts and experiance. Just on the wrong side of the country and working my own REI business right now Pak, if you need help at all though you know where to reach me.

 

[bnickel]

when i had my detail shop i had to have a part time job delivering pizza at night just to be able to pay the bills, but i had a really low start up cost so when i figured out that the market here was already too saturated and knew i wouldn't make any money at it i closed the doors and took the loss, but i learned a LOT. networking is the key to any successful business.

 

[Pakrat]

Yeah, it's probably more dream than reality I guess. While I think it could be successful, it seems getting the right group of guys together that have the knowledge, skills and determination is just going to be near impossible. I think it's a gamble many just wouldn't be willing to commit to and I do not think it can be done on the side. Unfortunately now is the best time though, there are more shows on TV about car building than I can ever remember and it would seem interest in that is at an all time high. Combine it with everything going on around Mustang right now and no area competition and it just seems like a natural.

 

[pabear89]

Everthing starts a s a dream at one point.
But the other thing to consider is the growing # of parts places on the internet.
Unless there are a large group of classic mustangs in and around your area
it might not have the turnover rate that you would expect to have.

But hten If you were to give the Pals on Stangnet a special price list,
We might just beable to help out.


PB

 

[Pakrat]

Well, I'm talking more a finished car type of place, not another parts vendor. A place where you can either bring your exisiting car too and get the details done at whatever level your car requires or selling you a completed and finished car either made to order or buying one already finished to our specifications off of the lot so to speak. Also a service shop for the tasks different levels of hobbyist's either can't perform or don't want to be bothered with like say a guy that has a 94 and wants to add a body kit and paint match. Just mustangs and mainly classics, kind of a sanderson/unique performance type of set up only with market fair pricing for the average guy wether they want stock or modded or a blend of both, all at once or a little at a time as money allows. Maybe even a parts exchange program where when you want new high tech goodies you can trade in your stock parts if they are good still towards the purchase of the new stuff.

 

[1320stang]

Ooh, no place from Connecticut to Maine?

That's like what, 50 miles? When you guys up there complain that you have to go 3 states to go get something and your driving from Rhode Island to NYC, down here 3 states can be 1200 miles easy, shoot East Texas to Las Vegas takes almost 3 days!!!



Just yanking your chain, you know you love the Southwest. I hope something works out for you. I know what you mean about working for the man, I'm getting a bit tired of it too, but I put on the FE Nationals this past Spring and man, what a work load that turned out to be, and I lost about $4k on the deal. I'm going to try it again this next Spring, everyone had a great time and want to come back for the next one. I've got a lot of stuff I had to buy as a first time cost that I can use over again and I'll have a better sense of how to run it, maybe I can get my $4k back out of it and even make a bit.

 

[1Slick5.0]

Sounds like it could be a good investment if properly planned. I know up here Vermont we dont have crap. No dragstrip, Few places to get mods done. And Dynos are few and far apart

 

[fastcoupe68]

Pak this is something I am currently and seriously considering myself PM me and we can discuss this a little more