DIY Cycle shop?
then you could add the tools options as you went, or you could partner w/ a tool rental place, especially if they were real close by to your shop, and not deal w/ that overhead...
Last edited by Just Dave; Oct 15, 2008 at 12:40 AM.
My advise, if you decide to do this would be to keep it simple. Keep your focus on one specialty and you'll have a greater chance of success. Once you start diluting the focus of your business by adding extra services, you will take away from your business's identity and your customers won't know what your all about. How would you advertise your tech, space for DIY, tool rental, mentor tech, parts consignment, strippers, detail shop, etc...? You'd have to take out a full page ad and it would still look like a novella.
It is an excellent idea, one that I looked into myself not too long ago. However, for my area it is not such a good idea. I live in a relatively rural area of South Jersey and mostly every one here owns/rents a house with a large yard and at minimum a shed, add to that the rent for a commercial property (there were none for sale) and New Jersey's infamously high insurance rates, it would just not make enough money to be worth my time.
If you want to do it, then go for it. Look up the website for US Small Business Administration, they have excellent advise for the first time business owner, and are still an excellent resource even if you already have experience as an owner. Good Luck!
That's like saying you don't need liability insurance on your car because if you rear-end someone, they have insurance which will pay for their car.
Guess again. If your actions cause damage, you are liable.
Even a renter of an apartment should have an OLT policy in case he accidentally burns down the whole apartment complex, or just guts his own apt.
I never said he didn't need liability insurance. Come on now apples and oranges. You mentioned fire insurance and liability if a fire started in his building and burned the neighbors builing down. This is wrong. If he doesn't own the building he does not need to carry property insurance.
Hmmm renter's insurance to cover an entire apartment complex. I bet that is expensive....
I reiterate...if a fire in your building spreads to adjoining buildings, your insurance is not resposible for their buildings...
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Lets face it accidents happen in the shop all the time. Sparks fly when welding or cutting, machining parts. hammers and pry bars fly out of techs hands when trying to remove a b!tch that's rusted on. By having customers in the vicinity of all this, you are increasing your chances that one of them will get caught up in it. Not to mention a bunch of guys with not a whole lot of experience/training working with tools, which in the wrong hands, can be deadly. What if one of them messes up and another customer gets hurt or your certified tech gets hurt? Workers' comp is expensive enough.
I don't mean to sound like a naysayer, this is just how the insurance company is going to look at it. And they will charge you accordingly. If you can find an insurance company willing to work with you on this, and you feel you can still make a decent living doing something that you love to do: By all means, Go For It!

I just saw that your down in Lakeland. My mother lives in Winterhaven. I do know that if you were to open something like that down there with a bay for cars, my stepfather would most definitely be a regular customer. He has a beat up 70 Nova that's his pride and joy, and is always working on it in the driveway. He's constantly complaining it would be easier if he had a real lift.






