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Money Matters
Financial, Stock, Investment etc. posts here.

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Old 08-30-2013, 10:10 AM   #1
pbotz2000
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Join Date: Jul 2003
Location: MARYLAND
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advice on opening up a bmw independent shop

been working on bmw now for about 12 yrs dealership level. Its hard to go to work and watch people get shaken down hard for money, and in only see a pinch of it. my area is lacking bmw skilled shops and im dreaming of opening a small gig myself or with a partner to chase my dream

Not sure where to start or who to speak with on advice or recommendations as im just a worker bee type, and business stuff is out of my thought process.

Definitly would lke to hear opinions and advice. I have a fair ammount saved up for equiptment and stuff but it be great to hear from some small business people or experienced business minds.

Sorry if this sounds vauge, but i need to get this ball rolling somewhere
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Old 08-31-2013, 04:45 PM   #2
Raymond42262
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sometimes i take my car to a guy that opened up an indy shop in an office park with a lot of industrial buildings. He does all cars but he is good and gets a lot of business. good luck.
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Old 09-01-2013, 07:12 PM   #3
Adam@Euro-Spec
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Where in maryland? there are a few decent indy shops? Plus maybe I can have you do some work for me in the future.

Strictly from a business standpoint, however much cash you think you will need for start up double or triple it. that's probably closer to what you'll need.

Insurance, taxes, gas and electric and rent are expensive. I pay thousands and thousands and a month for those things at my stores(non bmw/car related)
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Old 09-03-2013, 04:11 PM   #4
JTLaz
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Put together a business plan (I know this can sound like a daunting task).

Things I would focus on are:

Costs to open the door (location, build out cost, equipment cost, insurance, etc.)
Costs to maintain (as Adam said - insurance, taxes, gas and electric, and payroll if you will have additional staff)
How you will generate money (what type of services, how much for services, how many people you need to break even)
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