A good friend of mine used to run a local auto parts store. He was an independent store. He had to buy so many dollars just to get daily delivery. The last two years he was in business he made over $50,000 profit each year but had to borrow money to pay his taxes. His inventory value grew faster than his profit did. He did not have any cash money as it was all tied up in inventory. Another thing he used to do. If a part went up in price he would wait until he sold the one he had in stock at the old price and then mark up the new one when it came in. That made him lose money over the year as his inventory changed value. He should have changed his price as soon as it went up. Small businesses make small margins after paying all of their bills. The locals pay taxes and employ people. The chains draw people to their "big" stores that they often get tax abatements on. I have seen the property taxes paid by the local small stores be larger than Wally world.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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