Hello From Memphis, Tn!

[Memphis Rob]

Hello to everyone from Memphis, Tennessee! Elvis says "hey"....

 

I am not only new to the site, I am also a new non-mechanic shop owner. I recently partnered with a high school buddy who basically channels automotive expertise. He has about 30 years of experience, most of which lies with Mercedes-Benz and BMW's. Our shop will be specifically marketed to these two makes of car. We've invested about $100k in the shop but, to be honest, are about $50,000 short of where we need to be.

 

Where his expertise lies in the technical end of the enterprise, I am the business end. I have a finance background and am pretty analytical, so we are definitely the Odd Couple. I happen to own the building in which our shop is located (not debt free unfortunately). It actually includes about 46,000 sf of space, although the shop currently takes up a 5,000 sf bay and currently has two lifts.. We are considering using some of the remaining space for climate-controlled vehicle storage. If anyone has thoughts on this, fire away. I've researched this quite a bit but sure welcome any first-hand knowledge. I also have plenty of secure outside storage for RV's, boats etc.

 

I have been so impressed with the knowledge represented by the members thus far and find the entire site to be invaluable. Even though I have confidence in my own experience and abilities, I realize how much i have to learn about the automotive business. I remember my school teachers saying "There's no such thing as a dumb question." If this statement does not apply here, someone better let me know pretty quick; I have a lot of them lined up already....

 

I look forward to corresponding with everyone!

 

Rob

[xrac]

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[CARMandP]

Welcome to the site from a fellow TN member Middle TN here. Look forward to hearing from your business expertise. It takes both mechanical and business sense to run a good shop. You guys will do good.

[Alex]

Welcome to ASO!

[Memphis Rob]

Welcome! How much demand is their for climate controlled vehicle storage?

 

That is a great question, and i frankly don't know the answer yet. The target market is primarily car collectors who are intent on storing their vehicles in a secure environment. Other prospects are owners of restored classics. In my research on this, I have been floored by the number of car fanatics who own 10 or more vehicles. I have also talked to several local collectors who own 20 to 40 cars, including a local guy who acquired the Mustang driven by James Earl Ray. These folks are not the target for me, however, because they generally have the wherewithal to acquire their own building. Our target is the guy whose eyes are bigger than his stomach, ie, he's bought 5 or six cars and they are either cluttering up his driveway or he's storing them in a self storage place. There is a certainty to the idea, however, and that is that collectors are dedicated to keeping that car in good shape.

 

But here is the side benefit: we all know that a valuable vehicle, whether a Ferrari or restored '57 Chevy, cannot sit fallow. so, as a service, we will provide regular maintenance for stored vehicles to keep them from deteriorating. For a monthly fee, we can start the engine or drive the car, keep it detailed, change fluids, or even do some engine work. We can also arrange for folks to pick up their car if they want to drive it on a nice day. When they bring it back, we'll put it back into storage for them.

 

I think there's a need for it...I just don't know how deep it is and how much folks will be willing to pay.

[Joe Marconi]

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