I found what I want for X-Mas!

Justin , as a small business specialist for one of the largest institutions in the US, let me give you a few words of advice.

Dont get discouraged, many times the loan is not approved as first request.

Keep it all on the books, it is much to easy to skate taxes, and unfortunately be declined for lending because cash flow is not there. We look at past and current performance, there is no proof of forward flow.

During your first two years, lending is usually only approved under personal name and secured by home. Dont get discouraged .... look to the SBA as a resort (if necessary, as prepayment penalties are stiff) and look to American Express as they lend where we wont. First two years most businesses fail ...its a fact that banks are well aware of and certain industries cannot get lending at all.

Keep pace , do not allow yourself to slow down or reset pace telling yourself its good for business that you focus only on lending. You gotta use those late hours to design a real business plan, and those rainy afternoons to chase leads.

Look at stages .... commercial property is a value that does not diminish. If you cannot get loan to payoff truck and use to purchase addtl units, consider just the land purchase 1st. Then look to long term financing, and balloon lending to get the extra items and equipment.

Buy good used equipment, look for "leased" equipment as an alternative. Most institutions setup a rather nice leasing option, and sell off the equipment for a penny at a later date.

Look for a local hitch shop. Visit and offer to build your own cart/trailer, and offer to work some hours on their cars for the help. You will be amazed at the cost of the items on those haulers, and what the original cost is. One of my clients sells the basics for 7000.00 per cart (opened version) and it costs him around 2600.00. Main cost is cart, generator, and holding tank.

Finally, ask Max for a detailers discount. Theres nothing wrong with using and displaying someones product, but make sure it works with you to keep costs down and the manufacturer listens to your requests. You can provide great feedback as to product growth in real world experiences.

I am sure you know all this .... but sometimes its nice to hear it again. I see good people make their dreams come true, but not without some heavy work, heavy tears, and good ole fashion trying.
 
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killrwheels@autogeek said:
Justin , as a small business specialist for one of the largest institutions in the US, let me give you a few words of advice.

Dont get discouraged, many times the loan is not approved as first request.

Keep it all on the books, it is much to easy to skate taxes, and unfortunately be declined for lending because cash flow is not there. We look at past and current performance, there is no proof of forward flow.

During your first two years, lending is usually only approved under personal name and secured by home. Dont get discouraged .... look to the SBA as a resort (if necessary, as prepayment penalties are stiff) and look to American Express as they lend where we wont. First two years most businesses fail ...its a fact that banks are well aware of and certain industries cannot get lending at all.

Keep pace , do not allow yourself to slow down or reset pace telling yourself its good for business that you focus only on lending. You gotta use those late hours to design a real business plan, and those rainy afternoons to chase leads.

Look at stages .... commercial property is a value that does not diminish. If you cannot get loan to payoff truck and use to purchase addtl units, consider just the land purchase 1st. Then look to long term financing, and balloon lending to get the extra items and equipment.

Buy good used equipment, look for "leased" equipment as an alternative. Most institutions setup a rather nice leasing option, and sell off the equipment for a penny at a later date.

Look for a local hitch shop. Visit and offer to build your own cart/trailer, and offer to work some hours on their cars for the help. You will be amazed at the cost of the items on those haulers, and what the original cost is. One of my clients sells the basics for 7000.00 per cart (opened version) and it costs him around 2600.00. Main cost is cart, generator, and holding tank.

Finally, ask Max for a detailers discount. Theres nothing wrong with using and displaying someones product, but make sure it works with you to keep costs down and the manufacturer listens to your requests. You can provide great feedback as to product growth in real world experiences.

I am sure you know all this .... but sometimes its nice to hear it again. I see good people make their dreams come true, but not without some heavy work, heavy tears, and good ole fashion trying.
Click to expand...

Scott thank you soooooooo much.
Simple but I mean it.
 
i live near the seller... I'd be more then happy to take a look at it for you. When i start my mobile business, thats the rig I'm looking for.
 
justin30513 said:
I know. It wouldn't be a bad deal at all. New it's 12k from rightlook.com. I'm guessing that hes is gonna let it go for 6-7k.

I have alot more in the works though. I applied last week for a business loan in the amount of 250K. Yeah. I know. WHEW! I'm gonna open up a shop and have 2 mobile units like mine just doing wash/vacs. I will stay at the shop doing full details that my wife will go an pick up. This will allow me to spend more time marketing my business to which is something I really don't do now. I live off of referrals. I've only spent 250.00 in advertising since I started 9 months ago and this includes my truck's lettering. I want to hire 2 full time employees and 1 evening, part-timer from high school.

The building I'm looking into is 30K with 2 bays and an office. The lot is 100k. I want to be visible and it costs here. I will be sinking another 10K into advertising right off the bat. I will also be paying off my truck and another one in the tune of 24K. I'm looking at a payment of 1300.00 which would be defered up to one year for start up. I will be using the DP lineup exclusively at the shop too. I owe it to AutoGeek for their help and it's a damn good product as well.

I figure I can easily triple my business if not more by doing this. I eventually want to be the manager and not the worker!

Yeah right!
Click to expand...

I'd be down for moving to GA... If you need a good full detail guy. :)
 
justin30513 said:
Simply an amazing deal!
Now I just need a loan.......

http://cgi.ebay.com/ebaymotors/MOBILE-DETAILING-TRAILER-AND-EQUIPMENT_W0QQitemZ300056936244QQihZ020QQcategoryZ66470QQrdZ1QQcmdZViewItem
Click to expand...


Justin i guess you should start saving!! Or you can always charge more!!:D :D Great trailer.. Check this out.. http://www.rightlook.com/index.asp?PageAction=VIEWPROD&ProdID=873 i guess it's the same.. By the way you can have a financing option by the company.

Good luck
Malmeh
 
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DS Detailer said:
I'd be down for moving to GA... If you need a good full detail guy. :)
Click to expand...

Now I love that ambition!
I'd really like to have this going soon. My other option is that a property owner in town will build to suit and just lease me the building. This may be the way for me. I just really want some capital to start with. Correct me if I'm wrong Scott, but this is the main reason a business fails.
 
Justin: Killrwheels has some EXCELLENT advice! I've been a sales rep for over 30 years and half of that as an independent (commission only). Being independent is just like owning your own business...companies pay me for performance and I meet all expenses.

The reason I'm doing these BMW's for the shop I work weekends for is simple: I'm building a clientele because the shop does not do detailing as a business: they are in business to sell late model BMW's. I'd like to semi-retire from business travel and suppliment my retirement with detailing in 5-6 years. By then, I'll have done 300+ BMW's that are located here and have a built-in customer base.

Just my $ 0.0002 (after taxes)

Toto
 
Nice set up.

A recommendation from my own experience. I own a plumbing business, and have been in the business for 15 years.

If you are young and able to work I would highly recommend working your bottom off for two years and get as much money saved in the bank as you can before you hire your first employee.

Only one additional employee besides your self will double your liability insurance and you'll be smart to get workmans compensation in case they hurt themselves, which cost another hundreds per month. Then there is matching their taxes.

I say go for it. If you work hard and smart you'll do fine. Just don't get too far in debt to begin with. Start with used equipment working out of a spare room or from your basement to keep cost down and pile up as much money as you can (from working your bottom off). Then, start looking for your first employee.

Good luck....

Russell
 
RFulmer said:
Nice set up.

A recommendation from my own experience. I own a plumbing business, and have been in the business for 15 years.

If you are young and able to work I would highly recommend working your bottom off for two years and get as much money saved in the bank as you can before you hire your first employee.

Only one additional employee besides your self will double your liability insurance and you'll be smart to get workmans compensation in case they hurt themselves, which cost another hundreds per month. Then there is matching their taxes.

I say go for it. If you work hard and smart you'll do fine. Just don't get too far in debt to begin with. Start with used equipment working out of a spare room or from your basement to keep cost down and pile up as much money as you can (from working your bottom off). Then, start looking for your first employee.

Good luck....

Russell
Click to expand...

Thanks Russell. Very very good advice. I just lack patience and I know that is something I must develop before anything. I just know this will work due the success I've already had. There is just no one else doing this here. I do have alot of customers that were sold on me just being mobile. I'm even thinking of just renting a bay from a bodyshop or mechanic.

Once again, thanks to everyone and their support. I would never get this anywhere else!!
 
Justin

Lack of patience = eagerness

you gotta start selling yourself. I'll buy eagerness all day, patience, well its a virtue in itself that we all need to have and tolerate. So from now on, you are eager and excited but cautious and patience when needed.
 
I know I may lack some experience, being only 19, but I currently have a 5x8 that is now fully furnished.

I did full-time detailing while I was 18, and now that I'm in college, I only do it on the weekends and whenever I have extra time. School(studying Criminal Justice and trying to get in the D.E.A. as a special agent) is much more important to me than a job.

Don't get me wrong, I have a PASSION for this sort of thing, and really enjoy doing "extreme" makeovers, and working on high-end cars, as they tend to have more of an appreciation for your time and work.

Have you considered a topper for your truck? Buy one used, get it painted to match your truck. I've seen some around town for like $250. That way you can still have your equipment covered, in case of rain, bad weather etc.

I use a car, and still live at home, and I have no option, nor say in what car I get, as it was given to me as a graduation present. I could get most of my stuff in my trunk, in sealed Rubbermaid containers, extension cords, etc. pretty easily.

If your even some-what handy, its MUCH cheaper to purchase a trailer, and find a little help to install a tank. I had a portable generator (Coleman) that was un-mounted, but held by professional bungy cords in the back of the trailer. Pressure washers are inexpensive, and you can get away with basic or used materials until you can afford higher-end/professional equipment. I learned to use what I have, and gradually grow.

Also, on a lighter note, their are more successful business in the U.S. that don't finance money or finance very little. If you can teach yourself to save a portion,say 10% of your sales, and get a trailer, it will be the most expensive part. Get to know a trailer manufacture, and maybe even offer your service to the owner once in a while. I landed a 15% discount by being friendly, and detailing his and his wife's car twice. I also received custom made t-shirts, by offering my service to a local t-shirt maker. Doing a wash/wax, and interior clean, landed me 5 custom-color shirts.

I also don't mean this, nor do I have friendship with you, but if you're serious about this sort of thing, we all have to make sacrifices to achieve greater success. I am sure you are aware of this, but if we want something REALLY bad, sacrifices are made, to reap greater rewards. At this point, its an investment, and very much like the stock market, per say. In my instance, the last two years of my high-school year sucked. I worked 50 hours a week, saved everything I could, and slowly purchased needed things, and things that make work easier, more efficient, less expensive, and more profitable. I now have a some-what stable job, excellent clientèle, and I'm my own boss, at yes, 19. You do not need to take once piece of advice given here, but I am always trying to help others, explaining things, and sharing knowledge. Just for kicks, after expenses (insurance, gas, water, supplies) I come out with $38/hr. In no means do I consider my self at the top, but I'm young, ambitious, eager to do hard work, and have a passion for this sort of work.

Like Killr mentioned, get in contact with SBA (Small Business Administration) http://www.sba.gov/ . I have worked with two ex-CEO's of multi-billion dollar corporations, and most recently, the President of BatteriesPlus (a nation-wide battery store). People are out there to help, you just need to find them. I have learned a great deal from these folks, and taking Business/Marketing and Management college classes in high school really helped. If you think you lack a certain skill, enroll in a community college, like I did. It's very inexpensive (around $60 a credit hour) and small classes, allow for questions and one-on-one help.

I hope I have not overkilled the situation, but I am available for additional help if you wish. Like I mentioned, I really enjoy helping others, as it gives me a chance to give back.

Have a safe and happy Holiday Justin! :awesome:





-Nick
 
justin30513 said:
EVERY single container! LOL!
I'd add a heater in there to keep my bottles from freezing up!
Click to expand...

are you even sure that will fit all your stuff?:p
 
nick19 said:
I know I may lack some experience, being only 19, but I currently have a 5x8 that is now fully furnished.

I did full-time detailing while I was 18, and now that I'm in college, I only do it on the weekends and whenever I have extra time. School(studying Criminal Justice and trying to get in the D.E.A. as a special agent) is much more important to me than a job.

Don't get me wrong, I have a PASSION for this sort of thing, and really enjoy doing "extreme" makeovers, and working on high-end cars, as they tend to have more of an appreciation for your time and work.

Have you considered a topper for your truck? Buy one used, get it painted to match your truck. I've seen some around town for like $250. That way you can still have your equipment covered, in case of rain, bad weather etc.

I use a car, and still live at home, and I have no option, nor say in what car I get, as it was given to me as a graduation present. I could get most of my stuff in my trunk, in sealed Rubbermaid containers, extension cords, etc. pretty easily.

If your even some-what handy, its MUCH cheaper to purchase a trailer, and find a little help to install a tank. I had a portable generator (Coleman) that was un-mounted, but held by professional bungy cords in the back of the trailer. Pressure washers are inexpensive, and you can get away with basic or used materials until you can afford higher-end/professional equipment. I learned to use what I have, and gradually grow.

Also, on a lighter note, their are more successful business in the U.S. that don't finance money or finance very little. If you can teach yourself to save a portion,say 10% of your sales, and get a trailer, it will be the most expensive part. Get to know a trailer manufacture, and maybe even offer your service to the owner once in a while. I landed a 15% discount by being friendly, and detailing his and his wife's car twice. I also received custom made t-shirts, by offering my service to a local t-shirt maker. Doing a wash/wax, and interior clean, landed me 5 custom-color shirts.

I also don't mean this, nor do I have friendship with you, but if you're serious about this sort of thing, we all have to make sacrifices to achieve greater success. I am sure you are aware of this, but if we want something REALLY bad, sacrifices are made, to reap greater rewards. At this point, its an investment, and very much like the stock market, per say. In my instance, the last two years of my high-school year sucked. I worked 50 hours a week, saved everything I could, and slowly purchased needed things, and things that make work easier, more efficient, less expensive, and more profitable. I now have a some-what stable job, excellent clientèle, and I'm my own boss, at yes, 19. You do not need to take once piece of advice given here, but I am always trying to help others, explaining things, and sharing knowledge. Just for kicks, after expenses (insurance, gas, water, supplies) I come out with $38/hr. In no means do I consider my self at the top, but I'm young, ambitious, eager to do hard work, and have a passion for this sort of work.

Like Killr mentioned, get in contact with SBA (Small Business Administration) http://www.sba.gov/ . I have worked with two ex-CEO's of multi-billion dollar corporations, and most recently, the President of BatteriesPlus (a nation-wide battery store). People are out there to help, you just need to find them. I have learned a great deal from these folks, and taking Business/Marketing and Management college classes in high school really helped. If you think you lack a certain skill, enroll in a community college, like I did. It's very inexpensive (around $60 a credit hour) and small classes, allow for questions and one-on-one help.

I hope I have not overkilled the situation, but I am available for additional help if you wish. Like I mentioned, I really enjoy helping others, as it gives me a chance to give back.

Have a safe and happy Holiday Justin! :awesome:





-Nick
Click to expand...

lmao!
look what he said about the shirts, justin!!
then you can really bring sexy back!!!
tee heeeeeee:awesome: Im the MANsorry, i just couldn't help it!
 
That thing is loaded! Empty trailers with nothing in them don't sell for a whole bunch less!
 
nick19 said:
I know I may lack some experience, being only 19, but I currently have a 5x8 that is now fully furnished.

I did full-time detailing while I was 18, and now that I'm in college, I only do it on the weekends and whenever I have extra time. School(studying Criminal Justice and trying to get in the D.E.A. as a special agent) is much more important to me than a job.

Don't get me wrong, I have a PASSION for this sort of thing, and really enjoy doing "extreme" makeovers, and working on high-end cars, as they tend to have more of an appreciation for your time and work.

Have you considered a topper for your truck? Buy one used, get it painted to match your truck. I've seen some around town for like $250. That way you can still have your equipment covered, in case of rain, bad weather etc.

I use a car, and still live at home, and I have no option, nor say in what car I get, as it was given to me as a graduation present. I could get most of my stuff in my trunk, in sealed Rubbermaid containers, extension cords, etc. pretty easily.

If your even some-what handy, its MUCH cheaper to purchase a trailer, and find a little help to install a tank. I had a portable generator (Coleman) that was un-mounted, but held by professional bungy cords in the back of the trailer. Pressure washers are inexpensive, and you can get away with basic or used materials until you can afford higher-end/professional equipment. I learned to use what I have, and gradually grow.

Also, on a lighter note, their are more successful business in the U.S. that don't finance money or finance very little. If you can teach yourself to save a portion,say 10% of your sales, and get a trailer, it will be the most expensive part. Get to know a trailer manufacture, and maybe even offer your service to the owner once in a while. I landed a 15% discount by being friendly, and detailing his and his wife's car twice. I also received custom made t-shirts, by offering my service to a local t-shirt maker. Doing a wash/wax, and interior clean, landed me 5 custom-color shirts.

I also don't mean this, nor do I have friendship with you, but if you're serious about this sort of thing, we all have to make sacrifices to achieve greater success. I am sure you are aware of this, but if we want something REALLY bad, sacrifices are made, to reap greater rewards. At this point, its an investment, and very much like the stock market, per say. In my instance, the last two years of my high-school year sucked. I worked 50 hours a week, saved everything I could, and slowly purchased needed things, and things that make work easier, more efficient, less expensive, and more profitable. I now have a some-what stable job, excellent clientèle, and I'm my own boss, at yes, 19. You do not need to take once piece of advice given here, but I am always trying to help others, explaining things, and sharing knowledge. Just for kicks, after expenses (insurance, gas, water, supplies) I come out with $38/hr. In no means do I consider my self at the top, but I'm young, ambitious, eager to do hard work, and have a passion for this sort of work.

Like Killr mentioned, get in contact with SBA (Small Business Administration) http://www.sba.gov/ . I have worked with two ex-CEO's of multi-billion dollar corporations, and most recently, the President of BatteriesPlus (a nation-wide battery store). People are out there to help, you just need to find them. I have learned a great deal from these folks, and taking Business/Marketing and Management college classes in high school really helped. If you think you lack a certain skill, enroll in a community college, like I did. It's very inexpensive (around $60 a credit hour) and small classes, allow for questions and one-on-one help.

I hope I have not overkilled the situation, but I am available for additional help if you wish. Like I mentioned, I really enjoy helping others, as it gives me a chance to give back.

Have a safe and happy Holiday Justin! :awesome:





-Nick
Click to expand...

Wow! You are impressive!! That is totally cool!!!!:righton:
 
Thanks for the kind words Sir. :D It means a lot from a well respected man like your self.



Have a safe and happy Holiday!





-Nick
 
haha, actually i believe that is a well respected (wo)man
anyways some good advice there, and 38 an hour is pretty good profit to be making! im guessing before expenses you get around 50 an hour?
 
My apologies, honestly. It's a late here, almost 1:30am, and I've been out finishing holiday shopping, and I'm tired.

I initially saw, "ltoman", and again I am sorry for the assumption. I have read through some threads, and see "ltoman" is a very well respected member on these forums.



To be honest, I don't know. I have worked on a few Maserati's in a weekend and walked away with a $1,000 in my pocket. I get tipped pretty well, and on a usual basis. I do not include tips in my revenue, as I report them seperatly. All tips go straight to a money-market account, which yield high interest rates.

Once I open my X-mas present, which hopefully is a new digital camera, I will take some photos of some of the marketing tools I use, flyer's, business cards, brochures, scrap book etc. so you can gain some ideas if you wish.

My main expenses for me are the following:

Insurance (car, license, etc.)

Gas (V8 premium with 14MPG, and generator)

Supplies (waxes, glazes, compounds, tire shine etc.)

Water (250 gallon setup, enough to do 10-20 cars/trucks/SUVs on average. Water is filtered, and filters aren't cheap either)
Luckily, I have a decent clientèle base within 10 miles, but working with the higher end cars, and SUVs is easily 15 miles, if not more, away. *NOTE I do not charge the upper class any more than I would charge an average person. These clients usually have wash/waxes and SOME sort of interior work done on bi-weekly basis, or three times in two months. I also sell a decent amount of "monthly" packages, where I will come out and do a wash/wax/touch up/interior or whatever service they need, up to once a week. I try and educate my clients with the products I'm using, and what they do, but most aren't even home. They leave the car with the wife/house keeper, or leave the vehicle that needs service outside, unlocked.

I have some clientèle I see every 3-4 months, monthly, and some jobs where they just want my service once, to sell a car, or whatever the case may be. I have been offered to do touch-up work after cars come through the body shops for a local Progressive auto insurance branch, but I do not have enough raw man-power, to service lots of vehicles on a weekly basis. It's not easy to hire someone, when you're 5 years of more younger than they are. All seriousness in the job is lost, when they come to find out I'm still a teenager, but nonetheless, a successful one at that.


Have a safe and happy Holiday!




-Nick
 
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Thanks you Nick for so much more information. You are right about alot of things. Things I needed to hear again! Why should even consider the headaches of hiring employees and running a shop. I can set my own schedule now and I only have to worry about me. My only over is my truck and it maintenence. I'd have that still even if I opened a shop! My truck and supplies are costing me about 500.00 per month. That's insurance, payment, gas, and supplies. I only put about 50-75 miles on it a week because most of my clients are in my hometown.

I actually polled my clients this week. I asked them their opinion on me staying mobile or opening a shop. EVERY single one of them told me I'd better stay mobile. I thought one was going to slap me! That client of my mine that owned theSL550 said he would have never had it dropped off or picked up. He said that I am offerring a unique service with the added benefit of good work. He never expected my work to be as good because being mobile but would have payed more just for the service alone. He also said I was to cheap (remember he tipped me 100.00). He believes that I should be at a 75.00 per hour rate and that would allow negotiating room for more frugle clients. I'm already at 48.00 per hour rate.

So, I have decided to stay mobile. I want to find a shell for my truck. If any know of one let me know. I don't care what color it is since I know about 5 bodyshops well. I've already layed out the design for the enclosed area. That trailer on eBay was really nice but I need to get into tight areas and thing is huge. Pluse I'd have to find somewhere to park it at night. I really do not think it would make me anymore effcient. I did 6 vehicles yesterday. 4 wash/vacs and 2 wash/vac/wax totalling 350.00. Took me 7 hours to do them all. Only 2 were at one location. I did them all with 60 gallons of water too. 3 were done rinseless. This will be saving me sometime also once I really get it down. If anything, I'll hire a college student during the summer to help out when I'm really busy. I did this last summer and man did one more person really help.

I never expected to get this much motivation and help from forums members. I posted this same thread on "A"nother site and didn't get a single response. Didn't surprise me really. I heartfully want to tell everyone of you that I appreciate your time and comments.
 
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