Is classic car maintenance profitable?
Discussion
I'm looking at walking away from my IT-based work, and into something that I am genuinely interested in.
I'm considering setting up a small 2-bay (preferably just under the business rates free threshold) business offering maintenance, basic restoration and so-on for classic and sports cars. (not body-work or paint) - I have a lot of experience in British classics and older British/ Italian sports cars.
Just wondering if this sort of proposition is likely to be profitable "in the current climate", I am in a quite affluent area (Near Dontington Park) with a very strong local classic car following.
I've not got much further that basic musings yet, no plan as such. (no direct competition in the area)
I'm considering setting up a small 2-bay (preferably just under the business rates free threshold) business offering maintenance, basic restoration and so-on for classic and sports cars. (not body-work or paint) - I have a lot of experience in British classics and older British/ Italian sports cars.
Just wondering if this sort of proposition is likely to be profitable "in the current climate", I am in a quite affluent area (Near Dontington Park) with a very strong local classic car following.
I've not got much further that basic musings yet, no plan as such. (no direct competition in the area)
RedAndy said:
I dunno - do you need a reputation to make money with classics, not be a startup?
Good question, I have no "professional" experience.... but do have 20+ years of personal experience as a hobbyist, I'd say im confident in my knowledge and hands-on skill with most older Austin / Triumph / BL / TVR / Lotus I looked at this last year before retiring from a 30 year job. I had a couple of months garden leave and researched every aspect of exactly this proposition. I found about 15 or so really big barriers and far less good solutions and mitigants . I really wanted to do this and methodically talked myself out of it .
It's very different fixing your own car than one that someone has paid you to fix
Like everything if you want to do it you can, we can all do what we want to do . I just stopped wanting to do this .
It's very different fixing your own car than one that someone has paid you to fix
Like everything if you want to do it you can, we can all do what we want to do . I just stopped wanting to do this .
cliffords said:
I looked at this last year before retiring from a 30 year job. I had a couple of months garden leave and researched every aspect of exactly this proposition. I found about 15 or so really big barriers and far less good solutions and mitigants . I really wanted to do this and methodically talked myself out of it .
It's very different fixing your own car than one that someone has paid you to fix
Like everything if you want to do it you can, we can all do what we want to do . I just stopped wanting to do this .
Thanks for your honesty! It's very different fixing your own car than one that someone has paid you to fix
Like everything if you want to do it you can, we can all do what we want to do . I just stopped wanting to do this .
What would you say were the major red flags?
I know absolutely nothing about what you're looking to start up, however many moons ago, i started doing what i loved doing at the time as a job.
It was music related & i just so happened to be quite good at it.
At first it was great, however, almost 20 years on, i still do the job as a bit of fun tokens type of wage alongside my 9-5.
The age old saying of don't turn a hobby into a job has rang true for me, almost to the point of giving it up entirely.
I'm hardly forced & can take as little, or as much 'work' on as i like, however it really did suck all of the fun out of it for me.
If i'm practicing at home, i find a lot more enjoyment out of it when i'm actually getting paid for it.
It was music related & i just so happened to be quite good at it.
At first it was great, however, almost 20 years on, i still do the job as a bit of fun tokens type of wage alongside my 9-5.
The age old saying of don't turn a hobby into a job has rang true for me, almost to the point of giving it up entirely.
I'm hardly forced & can take as little, or as much 'work' on as i like, however it really did suck all of the fun out of it for me.
If i'm practicing at home, i find a lot more enjoyment out of it when i'm actually getting paid for it.
I know (of) a couple of the lads that bailed out of the JD Classics debacle and set up on their own and are doing very nicely.
Woodham Mortimer (which rose from JD Classics) appear at least to be doing very well.
The chap who looks after my Elise who specialises in Lotus keeps moaning that he keeps trying to retire but people keep giving him work!
Without peering too much in to the detail, it does appear to be a vibrant market but accessing it is another matter.
Woodham Mortimer (which rose from JD Classics) appear at least to be doing very well.
The chap who looks after my Elise who specialises in Lotus keeps moaning that he keeps trying to retire but people keep giving him work!
Without peering too much in to the detail, it does appear to be a vibrant market but accessing it is another matter.
His Lordship said:
RedAndy said:
I dunno - do you need a reputation to make money with classics, not be a startup?
Good question, I have no "professional" experience.... but do have 20+ years of personal experience as a hobbyist, I'd say im confident in my knowledge and hands-on skill with most older Austin / Triumph / BL / TVR / Lotus His Lordship said:
cliffords said:
I looked at this last year before retiring from a 30 year job. I had a couple of months garden leave and researched every aspect of exactly this proposition. I found about 15 or so really big barriers and far less good solutions and mitigants . I really wanted to do this and methodically talked myself out of it .
It's very different fixing your own car than one that someone has paid you to fix
Like everything if you want to do it you can, we can all do what we want to do . I just stopped wanting to do this .
Thanks for your honesty! It's very different fixing your own car than one that someone has paid you to fix
Like everything if you want to do it you can, we can all do what we want to do . I just stopped wanting to do this .
What would you say were the major red flags?
Liability insurance.
Actual responsibility and liability should my actions contribute to an accident.
Premises, I can't run a business legitimately from my home.
Flow of work to ensure its regular and proves viable.
Reputation. Forefront in the world of social media and the ease of it being damaged with a phone keyboard by someone full of beer and a bit cross.
Simple jobs becoming more complex costly and involved.
Physical health and fitness
Provision of guarantee physical or implied.
Availability of parts leading to vehicle storage needs.
Legal obligations when involved in repair or maintenance of road vehicles, Google it .
Time pressure and customer needs spoiling what I like to do as a hobby
I'm in a similar line of work,a coachbuilder, I'm 8 years in to self employed and looking fkr my first employee. I had always had smaller jobs alongside my precious work and this grew into my business, helped by a friend who was retiring.
If you can I'd try and build up a name as a side hassle, get to known the clubs perhaps, one marque in particular.
As far as costs go my workshop is 1500 square feet and under the threshold so you may be able to have more bays if needed. Insurance-3 to 5k. I would reconmend Classic Insurance services-please mention me of you do speak to them.
If you have space at home if start off small, perhaps contact a few clubs offering free 'health checks' or leaflet a car meet. With these cars not needed an MOT I'm sure you'll find some issues
If you can I'd try and build up a name as a side hassle, get to known the clubs perhaps, one marque in particular.
As far as costs go my workshop is 1500 square feet and under the threshold so you may be able to have more bays if needed. Insurance-3 to 5k. I would reconmend Classic Insurance services-please mention me of you do speak to them.
If you have space at home if start off small, perhaps contact a few clubs offering free 'health checks' or leaflet a car meet. With these cars not needed an MOT I'm sure you'll find some issues
Simpo Two said:
You're within striking distance of Thornton-le-Dale, home of 'Bangers and Cash'; why not drop in and say hello? Maybe they need another resto bod, maybe they know somebody who does, maybe they can just give you some pointers, maybe you can get an advert on their auction programmes. Whatever, they have the profile.
Errm.... where have you got that from? I'm 120 miles away!!Hoofy said:
Could you do this as a weekend/evening thing initially to see what problems would occur? Just offer to work on one car for a low fee, call it a pilot service. Maybe rent out a garage or something.
Not really no, small units are a massive rarity in the area, and honestly I want a life outside of work. His Lordship said:
Hoofy said:
Could you do this as a weekend/evening thing initially to see what problems would occur? Just offer to work on one car for a low fee, call it a pilot service. Maybe rent out a garage or something.
Not really no, small units are a massive rarity in the area, and honestly I want a life outside of work. 
This is what I did before quitting and going full time.
His Lordship said:
Hoofy said:
Could you do this as a weekend/evening thing initially to see what problems would occur? Just offer to work on one car for a low fee, call it a pilot service. Maybe rent out a garage or something.
Not really no, small units are a massive rarity in the area, and honestly I want a life outside of work. His Lordship said:
Not really no, small units are a massive rarity in the area, and honestly I want a life outside of work.
You may also find a wall of "NO MOTOR TRADE" when looking at properties. We looked at trying to rent a unit to store some of our cars that are awaiting mechanical or body work and even when it was just storage not operating a business it was a flat no as soon as cars were mentioned. Gassing Station | Business | Top of Page | What's New | My Stuff