First off, where are you located?
Finding good help is very tough right now. The competitiveness of the industry is making it tough to keep them when you find them. You see alot of good workers moving for more pay.
Im going to tell you from experience. Building cars doesn't make money. It takes alot to keep going and when your average project takes 6-7 months to complete its tough to get bills paid during that time.
I started out in the wholesale manufacturing and slowly got pushed into the car building side and find myself stuck here. Its going to take time transisioning back but that takes capital.
Take this advise.
Plan your business to have more than one facet. They say build on the "secret sauce", I say fill your cabinet with more than one.
Start small don't grow till you have a good plan set forth.
If you have the capital don't blow your load. (I'm guilty of this and I'm still trying to recover), I was advised to invest 30% of it and I didn't.
Never assume you can regain the money back in the future. You will not.
Always move forward. You can remember and learn from the past but don't dwell on it. "Only the fool and the foolish trip on things behind them".
Avoid investors and government assistance if you can. When things get low (and they will) investors will pull their money. Smart ones will at least.
I have seem many shops rise and fall. Some self detroyed , some for stupid decisions and some for taking on more than they could handle.
Whay type of service do you plan on providing?
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