Who's started a business?

[GreenF350]

I was wondering who all has started their own business and how much of a PITA it was. I have been toying with the idea lately. I have been fixing a lot of neighbors and friends cars lately and have been bouncing the idea around. I know now isn't the best time with the government doing some of the things it is, but even if it won't be completely able to support me and my family, I was wondering if it was worth it just so I could get paid for my time and be on the up and up. Right now I haven't been charging anything and have even turned down a few people that have offered to pay, but I enjoy the doing it and figure it might be worth it to try. I'm not looking to employ anyone or anything crazy, just make some spare cash. Also, does anyone know how to go about getting the information I would need if I did decide to give it a shot? I know there are college classes that at least help with some of the knowhow, but I figure it can't be THAT hard to start a really small (1 person) business can it? Thanks for any information.
-Aaron

[ianstew]

Go for it! just incorporate yourself, get some insurance, and go for it! Incorporating yourself will help yoiu save on some taxes.....but in the line of work you'll be doing, get some good liability insurance........you don't want to be financially responsible out of your own pocket if you fubar something.

[GreenF350]

Yeah, I really want to, but I don't want to "squander" what money I have now since I have a family to support, but I would LOVE to have my own shop. I figure this is a good start and I could expand later when I was ready. I need to find somewhere to read up on LLC's and what other crazy hoops I have to jump through for the gov. I want to make sure to stay on the right side of taxes and other business laws. I need to find out too much info right now. It seems really overwhelming, but I figure it is worth it and if I am gonna do it I might as well start somewhere. I figured there would be at least a few people on here that could point me in the right direction.
-Aaron

[Robsr]

Find a good cpa, first! lol

[GreenF350]

Yeah right? It's all the rules and regulations that worry me the most. My wife's uncle works for Carquest and I was talking to him about it and he said I would be better off under the table. He had a good number of horror stories about guys around here that got stomped by the government for trying to do it right and being "on the radar". He actually said it was better to keep it on the down low and press on, but I would like to be legit and have the ability to grow if it all pans out.

[Robsr]

Yeah, I actually wish I had chosen something besides the auto industry. it's probably one of the most expensive industries, for techs and evil shop owners, to be in. every time you turn around, your scan tool wont allow you to do a certain task and needs to be updated, service info cost's are on the rise, then you'll have customers who dont want to pay, or whine about how much it cost's not realizing the investement we've made in tooling, schooling and the other cost's.... thats it! I quit!! lol

[GreenF350]

Originally Posted by Robsr

Yeah, I actually wish I had chosen something besides the auto industry. it's probably one of the most expensive industries, for techs and evil shop owners, to be in. every time you turn around, your scan tool wont allow you to do a certain task and needs to be updated, service info cost's are on the rise, then you'll have customers who dont want to pay, or whine about how much it cost's not realizing the investement we've made in tooling, schooling and the other cost's.... thats it! I quit!! lol

Yeah, that's true. I actually hadn't thought that big yet though, well, not for anytime soon anyway. As of right this moment I like working from word of mouth and helping people out. I am looking for something for my time and to buy tools, etc right now, not full support of my family. I still have another 10 in the military. Basically I am looking for a hobby that would pay for itself and some of my toys until I retire and can get serious with it. I was Master ASE certified before I joined, but I let them lapse when I decided to make the military a career. I plan on getting them back this spring. Maybe I am just dreaming and it will have to be all or none, just thought I would see about learning the process. I figure I already have some of the knowledge and a lot of the tools, it's the experience, especially with the newer cars that I am lacking. Well, that and business knowledge. Lol. Either way I know I still have a long way to go. This is really a "first step".
-Aaron

[Robsr]

Oh heck, no problem, you'll be able to figure out anything the engineers toss out there. experience on the fly is better than any boring class room, lol Thanx for serving

[Tyler]

I had a Landscaping one, and we just closed the doors a few months ago along with about 14 others.

Looking into getting a diesel tech cert and starting a performance shop.

[choctaw]

There is never a GOOD time to start a business.

I started my business in 2000 and we all know what happened the next year. Going strong for 10 years, remember the most important thing is CUSTOMER SERVICE. This is one area a lot of mechanics and plumbers lack.

Go for it!!!

Incorporate for the protection, file your taxes as an S Corp for the savings.