I don't see the dial.
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- Thread starter Sporin
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I don't see the dial.
Yup, back to 80 newbie status for you
guess I should have blown up the picture BEFORE posting. DOH!
Still... looks like a sweet 97 LX.
the good thing about that truck is the factory locker option is the easiest possible install. Only the 97 lxs have the additional harness that runs fore and aft installed at the factory. All other years and all LCs don't have that one and you need to cobble something together.
I need some good advice, fast. feel free to add in goofy comments as I love them too but I do need some solid advice.
My wine company is all but dead. Long story. Was totally beyond my control and was very sudden and unforseen. I've really started to hate the wine business anyway.
Obviously I'm the Flipper. I like cars. I love cars. Cars are my next logical step and I think I'll be happy with this potential move.
I'm looking into buying an existing MAACO location. It's profitable now and I can pull a good salary day 1. I have all sorts of plans for marketing to the 4WD world (not just Cruisers) and a few other creative ideas for extra added cash flow. I think it's something I'll really enjoy and will be a solid future for me and my family.
The wine business is far from solid. I'm faced with doing my resume now but I can't go work for someone else in the wine industry. All my bosses sucked before cuz I think I'm smarter than them (I'm sure I'm not.) I just can't do it again.
Sooo....what are the reasons not to do it?? I know MAACO has a rep of being a cheap place to go but there are plenty of people that want cheap. The owner currently does nice restorations on old cars for cheap as he holds onto the cars and has his employees pick at them during down time (which isn't often apparently) Doing insurance jobs paired with the occasional LV, GTO, SS, or whatever sounds appealing. I don't want to be Overhaulin' or Pimp My Ride. I want a good living.
Thoughts? Opinions? Flame? Any input would be great. never been in this position and it's good and scary at the same time.
Not 100% sure this will happen but it's the frontrunner for my options.
My wine company is all but dead. Long story. Was totally beyond my control and was very sudden and unforseen. I've really started to hate the wine business anyway.
Obviously I'm the Flipper. I like cars. I love cars. Cars are my next logical step and I think I'll be happy with this potential move.
I'm looking into buying an existing MAACO location. It's profitable now and I can pull a good salary day 1. I have all sorts of plans for marketing to the 4WD world (not just Cruisers) and a few other creative ideas for extra added cash flow. I think it's something I'll really enjoy and will be a solid future for me and my family.
The wine business is far from solid. I'm faced with doing my resume now but I can't go work for someone else in the wine industry. All my bosses sucked before cuz I think I'm smarter than them (I'm sure I'm not.) I just can't do it again.
Sooo....what are the reasons not to do it?? I know MAACO has a rep of being a cheap place to go but there are plenty of people that want cheap. The owner currently does nice restorations on old cars for cheap as he holds onto the cars and has his employees pick at them during down time (which isn't often apparently) Doing insurance jobs paired with the occasional LV, GTO, SS, or whatever sounds appealing. I don't want to be Overhaulin' or Pimp My Ride. I want a good living.
Thoughts? Opinions? Flame? Any input would be great. never been in this position and it's good and scary at the same time.
Not 100% sure this will happen but it's the frontrunner for my options.
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Wow. I wish I could offer some advice. I have thought many times about going into business myself. I don't know that I would do for work but I am sure it would be something car related. I have been too much of a wuss to step up and do it.
I would look at the financials of the company. Is there debt you would be assuming? Check with his suppliers and see if he has pissed anyone off. My wifes company has very few supplies that will sell to them because they don't get paid. You don't want to step into someone elses nighmare. I guess thats my 2 cents.
Also just make sure you CAN turn a profit like he says. I know you have that gift to BS which makes you a good saleman. So I think you will do alright whatever road you decide on.
I wish I could sell. I just don't like dealing with people. I tend to tell people to screw when they piss me off.
I would look at the financials of the company. Is there debt you would be assuming? Check with his suppliers and see if he has pissed anyone off. My wifes company has very few supplies that will sell to them because they don't get paid. You don't want to step into someone elses nighmare. I guess thats my 2 cents.
Also just make sure you CAN turn a profit like he says. I know you have that gift to BS which makes you a good saleman. So I think you will do alright whatever road you decide on.
I wish I could sell. I just don't like dealing with people. I tend to tell people to screw when they piss me off.
I'm going thru a business broker who has financials and I've seen the balance sheets. I'll get more in depth with the numbers if I move forward. He's pulling in double what I'm making now (don't make much!)
I already work for myself so the fear factor has been a way of life for years. I can definitely do the customer service end of it. The marketing possibilities and untapped ideas associated with it all is what intrigues me. I think I can expand fairly rapidly and hopefully pay the loan off quicker.
Any job/company is going to be a nightmare. Everything has problems. MAACO has national buying power and the location holds no debt other than the existing equipment which is included in the purchase price.
No matter what I do I'm going to work somewhere that I'll eventually hate. Everyone does. having a functioning and valuable business to sell off when it's time to quit is much more appealing than hitting the unemployment line with nothing 10 years from now at 46 years old.
I already work for myself so the fear factor has been a way of life for years. I can definitely do the customer service end of it. The marketing possibilities and untapped ideas associated with it all is what intrigues me. I think I can expand fairly rapidly and hopefully pay the loan off quicker.
Any job/company is going to be a nightmare. Everything has problems. MAACO has national buying power and the location holds no debt other than the existing equipment which is included in the purchase price.
No matter what I do I'm going to work somewhere that I'll eventually hate. Everyone does. having a functioning and valuable business to sell off when it's time to quit is much more appealing than hitting the unemployment line with nothing 10 years from now at 46 years old.
So why are they selling?
The guy owns a restaurant and a few other businesses. He's spent and burned out. Too many things happening at once.
I went there today and they had at least 50 cars waiting in the yard and 12 cars in the building. They do 30 cars per week
I went there today and they had at least 50 cars waiting in the yard and 12 cars in the building. They do 30 cars per week
Sporin
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- Thread starter
- #2,171
Interesting John! I'm in a similar situation... heard back this week on the business we are hoping to buy and her asking price seems reasonable. Have to do our due diligence with her books but it's starting to look more and more realistic.... very exciting.
The irony being I was going to email YOU offline for advice on making a bank happy enough to give you a business loan.
The irony being I was going to email YOU offline for advice on making a bank happy enough to give you a business loan.
That is ironic! I'm lost on the loan thing. Been researchin it
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RufusTheDufus
SILVER Star
My knee jerk reaction for a business like Maaco in Mass is potential changes in environmental laws. I don't think MA is as bad as CA with respect to paints and such but that just means they have room to "improve" 
I don't know much about that line of work but I'd like to get a comfortable feeling for the politics involved. The DEP can be a bitch to deal with and the fines can be huge.
I don't know much about that line of work but I'd like to get a comfortable feeling for the politics involved. The DEP can be a bitch to deal with and the fines can be huge.
Will make money off you.
Is there room for expansion? Is the shop at its max capacity? Is it an owned building or rented. There has to be a reason that other shops don't to a whole lot of restoration work. I believe its becasue the collision aspect is what makes the money.
Remember MACCO will get a franchise check too. Also find out what their involvement is. Do you have to purchase supplies from them. Do they require you to attend any expensive training courses?
Not trying to talk you out of it. Just trying to play devils advocate and give you some things to think about. Probably why I never did go into business for myself. I guess If I was to ever take the plung it would have to be part time to test the waters. I like the safety of my cubicle.
The broker gets paid by the seller...much like a regular real estate transaction.
Building has 15 years left on the lease and there is an option to buy. Once I got the loan paid down I would buy the building asap.
MAACO does get a percentage and I have that in the financials. It;s not cheap but it's also why they have tv commercials on all the time and also nthe reason they really have no nationally branded competition
Resto work is done there on in down time. He has 2 sitting there and his guys get to them when other stuff is drying and such. Regular cars are out in 3 days. resto work he'll hang on to the for 3-4 weeks. It;s not full blown frame off resto's either, it;s quarters, sills, color changes, etc.
Off to talk to my business partner about my new plan. Don't think he's gonna be too happy
Building has 15 years left on the lease and there is an option to buy. Once I got the loan paid down I would buy the building asap.
MAACO does get a percentage and I have that in the financials. It;s not cheap but it's also why they have tv commercials on all the time and also nthe reason they really have no nationally branded competition
Resto work is done there on in down time. He has 2 sitting there and his guys get to them when other stuff is drying and such. Regular cars are out in 3 days. resto work he'll hang on to the for 3-4 weeks. It;s not full blown frame off resto's either, it;s quarters, sills, color changes, etc.
Off to talk to my business partner about my new plan. Don't think he's gonna be too happy
I was just getting at the fact is someone is getting paid. This gets added to the sellers bottom line.
Good luck with your partner. I assume that he is having the same trouble as you?
He's surprisingly calm but his family has $$$ so not panicking like me. Meeting got cancelled this morning anyway. Waiting for info back from Chile as well
Is their a way to use this situation to get your auto dealers license, so you can go to the dealer only auctions? I would have a hard time getting into a business doing something that I was not already very good at.
Good luck
Good luck
my cousin has that license but I have no interest in selling used cars. I could work with him tomorrow but I would hate it. I helped him out for a week once and it sucked. perhaps at MAACO taking some indurance wrecks and parting them out but aside from that I don't wanna compete with the people that look like the guy in my avatar.
I'm looking forward to getting into something I know little about. Adds to the excitement. I'll have to go to MAACO headquarters for a month for training so I'll know everything about the model by the time I start. Starting to get excited abou this so hope everything works out
I'm looking forward to getting into something I know little about. Adds to the excitement. I'll have to go to MAACO headquarters for a month for training so I'll know everything about the model by the time I start. Starting to get excited abou this so hope everything works out
