Partner wanted!

I did a little business with Hillbilly51(RIP) when he opened his Willys restoration shop in Siler City. He started off with alot of work to do but then wound up with a bunch of half restored/baskit case vehicles he was trying to sell to recoup some money. The issue he ran into was as the bills mounted on a vehicle,the owner would eventually hit a breaking point and decide the cost wasn't worth it any more and leave the vehicle for him to sell. Just a little FYI for you to think about with this venture you are talking about.
edit: I went back and reread your first post.Is this gonna be a buy it flip it type of venture or take on projects for others like a fab shop?
 
Good friend has a body shop , he has stopped restoring any old cars too much time and loses money on most by the time there finished . If You stick with cars in fairly good shape you would probably be ok and have fun doing it . Just keep in mind materials and paint prices have went up substantially . He just painted a 92 f250 regular cab paint and clear alone was 1700$
Also u will need a good paint booth if u don’t wanna spend half your time wetsanding and buffing . Good luck!!
 
I think the #1 thing to decide on is if you are doing the work for yourself, e.g. your vehicle you buy and sell, or working on other people's projects by commission / hourly.
Everything changes depending on that.
It soudns like #1, which is a totally diferent business model that most here have posted concers with.
 
cass92lx50 said:
Good friend has a body shop , he has stopped restoring any old cars too much time and loses money on most by the time there finished . If You stick with cars in fairly good shape you would probably be ok and have fun doing it . Just keep in mind materials and paint prices have went up substantially . He just painted a 92 f250 regular cab paint and clear alone was 1700$
Also u will need a good paint booth if u don’t wanna spend half your time wetsanding and buffing . Good luck!!
Click to expand...
But them tv shows.....
I built a Chevelle for an employer. Put 15k in body parts together. Him and 3 other paid employees completed the car. It was a good 3 year process all the while building fire trucks to fund it. It was the boss mans hobby. Make a million doing trucks spend 100k building a car every year or two.
A large club in Alexander area gets em done over years and sometimes multiple owners. At best they float from friend to friend as trades, help, and or payment for a skill set. One guy is a great painter, another upholstery and so on.

Big shops have big clients, or speacialize in a nitch. Better yet they are experts at a particular model or years production.

Paint, drivetrain, audio, or upholstery. Pick a nitch and excell. Grow from that point. Personally the last intrigues me the most. Its the only one I haven't done, and seemingly the rarest breed.
 
Or make it 51-49 at a minimum.

And get it written iron-clad by a lawyer, and have another set of eyes check it over very carefully. I "lost" a little bit of money a few years ago upon the dissolution of an otherwise good partnership, when we found that the lawyer that drew it up had copy-and-pasted from a similar agreement, and in the section concerning distribution of assets and cash, missed the fact that one was partnership agreement 50-50, the other was a 1/3-2/3 division. "Lost" is in quotes, because overall, it was a very profitable venture, and the remaining assets were mostly table scraps in the wider scheme of things. Wasn't worth the time and effort, when we were already sitting around the conference table, and checks were already prepared. Just wanted to point out that even lawyers make major mistakes sometimes.
 
As ratty said..of you plan to buy fix flip, that's an easy business model though more risky...market fluxes mid build and you are exposed

But If you plan to build for others...that opens all sorts of issues.

I've got tons of thoughts there but won't clutter your threat if your going the other way.

But I'll say this in a rest the body man makes or breaks the build. It would be a fair partner ship for you to put up all the capital and everything but body fab work and split 50/50...
 
As ratty said..of you plan to buy fix flip, that's an easy business model though more risky...market fluxes mid build and you are exposed

But If you plan to build for others...that opens all sorts of issues.

I've got tons of thoughts there but won't clutter your threat if your going the other way.

But I'll say this in a rest the body man makes or breaks the build. It would be a fair partner ship for you to put up all the capital and everything but body fab work and split 50/50...
 
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