Chris and Jared, I agree with both of your posts. I am not in the auto industry but I own a retail/custom Furniture store.
www.furnitura.ca
The main things I would suggest:
- Low Overhead and expenses at first. As low as possible.
- Don't be stupid with the money you make in the beginning, save it and re-invest it into the company. If you can break even and pay for equipment or inventory in the beginning you should be on your way to success. You may even have to forget about a paycheque for sometime.
- Self Promote yourself and the business. Get out there and talk to people and hand out business cards. sending out e-mails and sitting on your ass don't do much. People like to deal with people. So get out there and start doing some talking and face to face promoting.
- Offer discounts or promotions to previous customers to tell thier friends and family. Word of mouth advertising is THE BEST form of advertising out there. make sure people talk about you and your shop, and recommend your excellent service, prices and work.
- In the very beginning most of your business will depend on low prices and undercutting the next guy. You will have to bend over backwards for people. Some will appreciate it, and some some wont.
- You will make and lose money, make sure you learn from your mistakes.
- Get ready to spend almost all of your time working at your business, and to lose alot of your personal time. It will be hard in the beginning but will pay off years down the road.
- Lastly, try to find a niche in the market in your area. Try to be different. Pick a business model that you want to go after but change it up and make it your own. Have a reason why people want to deal with you rather then the bigger guy.
Hope that helps,
Ryan