Re: Thinking about opening a speed shop...thoughts and ideas?
 

Alot of my friends opened up shops and said things like this when getting it going. When you say "average fool" who exactly are you talking about? Make a post on HMT, turbo d16, Honda-tech about doing an LS swap and charging $2500 in labor and you'll see the reality of the marketplace.

Re: Thinking about opening a speed shop...thoughts and ideas?
 

Start an online business first. Your overhead will thank you.

Most "speed" shops, actually make most of their money doing window tinting, installing alarms, or installing remote starters. The only true "speed" shops these days are the ones doing the type of swaps/mods that your average HMT member isn't even into. (EX: full drag cars, Race engine programs, extensive tuning, ect...)

Start online, and specialize in something. Don't be the average parts -----. It doesn't work.

Re: Thinking about opening a speed shop...thoughts and ideas?
 

or by doing basic repairs or non performance work as well, in the winter you'll want to be doing regular work just to keep above water

Re: Thinking about opening a speed shop...thoughts and ideas?
 

I do "Freelance" work here. A REAL speed shop. www.jandmmotorsports.com It takes a ton of cash to do things right and make a good go of it.Xenocron (Chris) has the best chance I have seen in a long time. Great ideas, diverse products (Gas, store, Tuning, Fab work, etc..)

Re: Thinking about opening a speed shop...thoughts and ideas?
 

I've tossed the same idea in my head for a while now too, actually been thinking about it for 5 years or so now. And what did i conclude? I opted against it.

Why?
People will swap a motor for 300 bucks. Make a post on HT for a swapper and you have 300 bucks.
Also, gotta build a rep and need to pay rent for a shop. Hard to pay someone 2k in labor when working outta a garage.

So I still say it's no good.

Re: Thinking about opening a speed shop...thoughts and ideas?
 

like stealth said, START ONLINE! thats what me and my buddy are doing. we have been running www.redlinemax.com (ignore the gay intro music, not my idea, LOL )since Feb/March and the rmoney coming in is good, but when you start at 0(no loans etc.) its always a hustle, but so far breaking even hasn't been an issue. I must say I'm pleased with the money and exposure we've gotten so far, we've done tons of local shows, sponsored one of NYs biggest Nissan meets, have a sponsored 11 sec race car which locally has pulled in tons of publicity. we also caught a lot of breaks and have had a lot of favors done as far as putting the site together and getting all types of parts deals and discounts. we were apporved for our lease and will be opening 3k sq ft shop in March in Odneton/Bowie of RT 197 near FT Meade(for the MD peeps).

but like everyone is saying, speedshops today are a dime a dozen...it is a MUST to find a niche, even if doing Hondas, find SOMETHING that sets you apart from the shop that is 2 doors down. above all just make sure you have the finance and time to put in. I've worked part time in the industry for 2 years before this and its nothing that I would try to support my family on or make it my main source of income, but you never know, put in enough time and make enough sacrafices and you might be able to. but IMO find a niche, don;t turn into the usual ricer shop!! its a HUGE risk above all, so make sure you have something to fall back on. I've seen plenty shops crash underneath themselves because of poor planning and spending thei money on "mad tite JDM goodies"

Re: Thinking about opening a speed shop...thoughts and ideas?
 

oh for your first purchase don't and don't spend $500 on those cheesay ass button up "team/mechanic" shirts that are slowly becoming a fad.... :3

Re: Thinking about opening a speed shop...thoughts and ideas?
 

WEll the key to this is skills. Very few last do to not standing out. The few shops I have seen last do performance work but are more based on your tyipcal tune up stuff t-belts/clutches etc. Thats where you will make your money not sellin a part here and there unless you do a huge buy in and create a huge rep for yourself. If you do both it will work and of course can do typical dealer work clean and fast.

Re: Thinking about opening a speed shop...thoughts and ideas?
 

I have seen every shop around here in NC go under except for one, and they were the first one open and do pretty good business because they have a fairly good rep.

Re: Thinking about opening a speed shop...thoughts and ideas?
 

Most of the people you are marketing to are poor, so not alot of money to be made...