Originally Posted by
turboRS
Well i'm totally on my own. No partners or employees! No finance!
My rent is nearly £2k per quarter, this includes service charge as its a council unit!
Insurance is nearly £3200 includes Road risk, Contents and public liability!
My contract is based on a 6 month notice period so basically if I wanted to give up the garage I would still have to pay the council for 6 months rent which is £4k!
In the first 6 months I turned over nearly £6500 but outgoings have been £6200 so only a profit of £300!!! No wage yet. But now the work has really dried up!!! It was never good but at least in the summer I had some work coming in!!
So far 98% of my customers have been family, friends and recommendations but NOTHING through advertising! Plus its always pre-booked work and so far nothing off the streets!!
The trouble is now my father has passed away recently and I now have 2 lots of bills as
the household costs etc are now my responsibility as well as paying for the garage!!
My only options as I can see are to find a Full Time job and somehow try and run the garage part time and after hours!! OR maybe get a Partner in and split the cost of the garage so it doesn't eat up all my own savings!!
I can just about survive for another 6 months to a year at a push at this rate before Im out of cash!!
OK, Insurance - I did the same as you on my first year. I got everything covered but I really didn't need it. I now pay £660 a year. Really go through the insurance and you could save £2500.
Workshop - They have you by the balls on that one, I wish I looked for another unit before. I had a council unit for 8 months then found a larger unit for half the cost.
A good revenue earner is
Scrap vehicles, cats, alloys and cars. Get a dolly or even a rope and a mate if it comes to it
Mobile mechanics - You can take bigger jobs back to the workshop.
Do a free one liner in yell.com for (name of business) mobile mechanics.
It might not sound like a lot but it helps.
Vehicle sales - Be careful with this, prices have dropped a lot and hassle will be involved but you can generate work this way. Don't expect massive profits but you can keep money coming in.
Have you applied for small business rate relief, this will cut your rates in half.
As far as household bills go, talk to tax credits and housing benefit at your local office.
What is the name of the business?
And full address, I would like to go on google earth and see.
If your tucked away then no one will know your there.
This can be over looked, for my mechanics I am advertised as The Mobile Mechanic.
Its very clear what I'm doing. If I put joe bloggs motors, no one would phone.
Look at your USP
Do you have a business adviser? If not get onto business link.
Wages - Don't expect one for 5 years!
Quitting is easy, working for yourself is not easy in anyway shape or form.
Its always hard. I haven't had a wage in 5 years. Well not what I'd consider to be a wage anyway. (10-15k)
Since I stayed with mobile mechanics and got rid of the garage I have had stable work in. I haven't had much work over the past 2 months though but Its always like this at this time of year though.
What are you charging? how are you charging?
Hope this helps