• Content Count

  • Joined

  • Last visited

Everything posted by Stashio

  1. A good suggestion from a separate thread was to keep money coming through the door by doing a few fixer-upers inbetween projects. This would be 3-10 year old cars (ideally no write offs) that need either mechanical, bodywork or both. I can google disposal cars and there seems to be a ton of trade auctions out there, equally I'm guessing general public sales (ebay, trader, etc.) have some good opportunities now and again. My question is if I don't want to spend hours trawling the internet everyday where's the best place to look for these types of cars in general? Cheers
  2. Yep my extremely average welding skills will improve pretty quickly no doubt! I'm not married to the idea of sticking with 90's cars - I just see them a cheap way in and agree there's likely not too much money to be made them long term, but it'll get me going. After that I like the idea of doing projects (the MGB V8 conversions I mentioned, campers, modifying modern classics, who knows) and fixing up non-runners inbetween as suggested by @Bmx Bandits. Point being to keep costs low at the start and build up as funds allow. Some great advice and words of caution in there from you lot - cheers!
  3. Neighbors aren't an issue but regardless I get your point and it's a temporary measure until things hopefully take off. We're semi-rural, detached house so not really bothering anyone. Warranty-wise I've been reading 'the how to be a car dealer' issue which seems very helpful. An example price they gave was an uninsured 6 month warranty for around £100 which seems reasonable (obviously I'd do my own checks). I know what you're saying with the MX5 example, I read the head in the sky posts on here of dreamers that aren't going to make it. I'm in a different boat working full time as well but yeah initially I won't be making much and little I do make I'll be reinvesting and building. Funding is an issue right now so to be honest I'm starting small because I have to and I'll be working my way up slower than I'd like. But I'm trying to do it in the right way from the start and build up a good rep as I go. I'm not shy about hard work I just want to make sure I'm going into this with my eyes open. Thanks genuinely though, I understand what you're saying.
  4. Cheers @CCC & @Bmx Bandits I agree with you both, it's going to be tricky to find the right balance at least at first. Keeping an eye out for decent non-runners is a good shout too, especially between projects as you say. Out of interest is there anywhere specific you'd recommend? I usually just keep my search to ebay for things like that. I'm not on facebook but a mate says the marketplace on that is pretty good if you're willing to wade through the crap so I'll give that a go at some point.
  5. I've had a few LTD's when I was an IT contractor so it's more familiar to me but ultimately it's about security - should something go wrong the liability is on the company and not me personally. Obviously the plan is for nothing to go wrong but as they say 'plan for the worst and hope for the best'. I'd be interested to know why people wouldn't go LTD, are you a sole trader?
  6. Nice one thanks again guys I just got the LTD setup so will no doubt be picking your brains again soon.
  7. You might be right @Paul C maybe my 90's nostalgia needs to stop at the MG I guess the main thing I'm concerned about is starting off on the right foot and not loosing my shirt if it doesn't work out. Start small and build into something bigger. Ultimately I see the MX5's, etc. as a cheap-ish straight forward way of starting out, cut my teeth, learn the ropes and build a rep. Then move on to a more profitable models/ideas (MGB v8 conversions perhaps) once the business is up and running. After that who knows... Thanks for the comments guys - keep them coming I really appreciate the input!
  8. Hi guys, a bit of background about me. I'm late 30's, have always enjoyed fixing up cars and am looking to turn my hobby into a business. I am under no illusions it will be hard work without a guarantee of success so the goal is to start off part-time, keeping my full time job, keeping costs low, while I see how things go. I do want to be an above board trader from the start though, offering cars with a warranty for peace of mind, etc. There's a loads of great threads on here with the nuts and bolts of starting out, etc. so I have a good idea of what's required (I've ran a few IT contracting LTD's so know what's required on the accounts side of things). BUT I wanted to run my business plan by you guys and get your thoughts if you don't mind. Constructive feedback welcome. In general I want to offer modern classics (90's era) coupes and convertibles. I think having a niche is a good plan and will let me focus on a few core models at first (MR2, MX5, MG, etc.). I'm looking to find fundamentally good cars that need work to bring up to scratch. So something with good history, low/average miles/owners but has body/mechanical/presentation issues (no write offs) then fix any issues, full service, MOT, valet, polish, etc. full prep prior to sale. The goal being restore them back to their former glory on a sensible budget, build a good reputation and learn the ropes. Not chasing profit yet but working towards being able to jack in my soul destroying IT job eventually if it works out. As I'm starting out the goal will be to learn rather than take any big risks so I'm thinking get something worth a bit fixed up but relatively cheap to buy when they need sorting out - MK1 MX5 being a good example. Eventually I'd like to restore/update older classics, sort out bigger bodywork jobs, improve drivetrain/handling/.etc - I'm thinking MGB V8 conversations would be popular and a good earner (a big process I'm reading up on at the moment). I have a double garage at home with a pit and some storage around the side of the house. It's presentable so initially to keep costs low I plan on starting out from home (but as a trader as I mentioned). If things work out I'll upgrade but the goal is keep costs down in the early stages so it doesn't make sense to rent somewhere bigger at the moment. What do you reckon? Cheers, Matt