Right off the bat, you have to decide if you want to be a mechanic or a business man. There are a lot of things to consider. The big killer is overhead. Especially in the line of work you are in. Big shop, high insurance, and dealing with the government.
I had my own shop for a couple of years. A lot of time was spent being a clerk for the government. Bookkeeping, sales tax, business tax, permits, licenses, and the list goes on.
Then there are the bad debts. Believe me, there will be "friends" of all sorts coming out of the woodwork. They will want favors, freebies, or just to "hang out" in the shop. Then there are the ones that will come with a sob story. I got to have this thing fixed so I can feed my family. Then when it comes time to pay, they either beg for credit or just disappear. There are also the ones that want to go to the front of the waiting list because they have a fleet of vehicles. One of those jerks caused me a lot of trouble. He expected to be treated like royalty, wanted discounted rates for volume, and flooded my shop with enough work to push out my regular customers. I did not want to be his employee.
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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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