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Shop Owner Advice Discuss various issues relating to running an auto shop with other shop owners/employees.
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Old 12-08-2004, 03:02 AM
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plans for the future

Hello, this is my brother with a question:

Hi, even though i am young i have started plannign for the future. I plan to go to university and do somthign in business/economics that wil allow me to receive a fair income so i can save up some capital. I then plan to open a car business whereby we will offer car customisation (theres always a market for it just need good marketing) but we will also offer services such as suspension, wheels, detailing, fiberglassing etc. Also planning that the customised business cars will be able to be rented by members of the public for private functions (school formals weddings etc.) and also customise and sell some cars. we will also restore as well as the general customisation. I am planning on learnign a trade to help the business (apart from the managerial and operational aspects) As ive got a bit to go before i get there i dont think i will offer alot of engine relate stuff and cars may change greatly from now but i suppose i can offer performance parts for whatever type of car it is. as the busienss is still establishing i will be operating in my previous job for a while. Im thinking if i head towards somthign like a mobile tax dude that will be more flexible then say operating in a firm all day long, But until then I am also undergoing some advanced driver training that will allow me to do some teaching which is also easy for me to do as i am a very good driver and have been honing my skills lately. I also plan that when i have sufficient capital i will take out a small busniess grant or loan to establish the business.

So down to the question what do you think my plan of a business is like. I am aware of the legalities and dubious planning that is involved with establishing a business and the ned of alot of capital (well the business practically survives on it while establishing). Please also offer advice and good tips for me. im plannign to do this in around 5 - 10 years but as you know long term planning is key to business success.
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