starting a small business

Roy in Ga · Mar 16, 2009

(In Georgia) are there any programs to help a person start a small business? I am thinking i can start and run a successful tire business. I have been around it off and on all my life and a few family members are doing so. They have offered to help in many ways as far as info on supplies,and info to keep me legal. All I need now is a tire balance and a few other supplies.I already have the rim clamp changer and compressor as well as most tools. I also need a loan or grant that would help me with the up front operating cost because I think it will take at least 3 months to create the customer base and get the word out that a clean honest drug free business is in town. My strategy is to set up a shop near a certain school on a busy Hwy.,advertise a little,and ask happy customers to spread the word. I am working with the building owner to let me use the building for a set time in good faith and if it works continue to rent from him. My dad used to work for him and has always been a good employer so i know he is a good person but I also know he will want his rent. This got a little long but I am running out of time and $.

Germ · Mar 16, 2009

Check with SCORE (Service Core of Retired Executives) in your area. They should be able to help you turn your dream into reality. Good Luck!

37 chief · Mar 16, 2009

It sounds like you wouldn't need much up front money, except for inventory. If it doesn't work I am sure you can unload the tires. Every tire store where I live has a fairly long waiting time, and are always busy. If you treat the customers right they will come back. I went to one of the stores looking for a used tire for something not auto related the guy said no. I went across the street that shop said sure and found one for me. Guess who I will go to for my tires. That shop even fixes flats free. I know there is no money in that, but you have a good posible return customer. Go for it. Stan

Anonymous-0 · Mar 16, 2009

I started in business 20 years ago with out any backing other than my own experience in the business I'm in. Don't borrow to get started, if your working save as much as you can then take the leap when you feel your ready. If your not working and you think you work out a rent agreement to get your name out there, then you really don't have much to loss. Work hard, keep a positive attitude, be honest and reasonable and success will follow. Good luck.

Roy in Ga · Mar 16, 2009

I haven't worked in almost 6 months and was buying all I needed as I could and was just looking into buying some more equipment and locating a building. Wife just took a pay cut and health ins almost doubled so now I am pushed to make a move. I was more looking for any programs to help me get started. I will prob. put 51% of the business in my wife's name to get the minority status.(I know some guys will thinks I'm nuts for that) we have been together for almost 20 years and I think it's a safe move. I don't intend on borrowing unless I need too but trying to do my homework now on all aspects.

Roy in Ga · Mar 16, 2009

thanks i will look that up

Anonymous-0 · Mar 16, 2009

Roy, do you have an explosion cage for split rims? Please don't work on them without one.

Anonymous-0 · Mar 16, 2009

Talk to your local banker if you haven't already. Sometimes if you can find a small town bank they are more lenient with borrowing. I have an operating loan set up that I am now paying 3% interest on the money they put in my account. Banker always asks do I need more. All they needed was 2 years income tax returns and a financial statement. I have been with them for a good number of years though so that helps.

Dieselrider · Mar 17, 2009

If you were going to hire hundreds of employees, there would be a lot of help from the government. If you are looking for money for just you to create yourself a job, you are probably going to need to deal with a private bank. How is your credit? If it is real good you may get some tire suppliers to go thirty days on some tires.
Beware of politicians promising lots of help while they are getting their photo taken for the paper and then you can't get them to return your calls once there are problems actually getting the money.

1936 · Mar 17, 2009

Let us know how your venture comes along. Best of luck.
Invest in a uniform service. Clean one each day. Keep your shop work area clean. If you look sharp you will feel sharp and appearance is more than you will think. No dog sleeping in the waiting area if you want women to buy from you. Look up and down the street to see who is selling tires. Discount tires in this area will match and beat any price to make a sale. Droped 40% just to mount and balance two tires for me by telling them a figure I all ready had from the air. At this time people are driving less and running the tires just a little longer. Will have to take credit cards which has a good cost at the end of each month. Checks can be stickey at the start up cause every dead beat will show up for free tires.
Good hot summer time work.
Part of not working in six month can be a sticking point at the bank? At this time no matter what the O man is saying it is the bank who makes the golden rule cause they have the gold. Banks will have you put your house on the line. They will want to see you work plan. Now the fun part the town will have you put you building up to code before you open the doors.
An experience trucker once told me that you have 5 grand spent before you turn the key in the truck not counting the truck and in you case you will have a fair amount of money up front to start.

Anonymous-0 · Mar 17, 2009

Everyone should be self employed at least once ! 80 % of all new business's started ,fail ! You need to have all your ducks in a row . Been there done that ! Theres more to it than hanging a sign and saying "I'm Open " . Any banker is going to want a business plan . Score is a good place to start , lots of resouces and people who have worked in the real world .You need to look into some classes in Accounting, marketing, management ! Other wise you''ll be beating your head against the wall for many years ! I'd start small, then expand later. Try not to borrow any money for start up if you can swing it . What kind of experiance do you have in the tire business ? I wish you well on your quest .

Anonymous-0 · Mar 17, 2009

Back with more ! lol You will need insurance ! , Check with county and city as far as zoning and any permits, fire inspection etc. you will need. Also sales tax permit , depending on rules in your area. Get incorperated, better tax breaks , and less liability . Uniforms ? added expense, I had them for years , did away with them , got some nice work pants and shirts , wash my own , saved $50 - 60 week . A clean shop is good for business . Lot of others mentioned good ideas also . Advertising costs , whats best advertising for your budget ? You need to get some signs, with those come ,,guess more permoits ! lol Scare ya off yet ? How about the long hours and no time off . Then theres the fun one "Employee's " if you get to the point where you have employee's , it opens up a whole nother can of worms . Taxes , insurance, workmanns comp , unemployment insurance.
OMG ,,I gotta go to work now ,lol

Howard H. · Mar 17, 2009

A local kid started a tire place here a few years ago - and he seems to be doing fine. Especially judging by the # of vehicles he's always got around and the size of his used pile that is constantly changing...

He has a carwash added onto his building which also helps.

I've always thought a person could also make a pretty good sideline out of just doing oil changes, but make sure to do them right.

One of the idiots at one chain "lube" place started my car, just after the guy underneath had totally drained it. Another idiot at another chain place left my transmission cooler lines untightened on the Suburban and stranded me in the middle of nowhere at 5:00AM the next night.

Just watch every dollar like it is your last one - work hard - and be fair with people and you'll have a good chance of making it...

Howard

Roy in Ga · Mar 17, 2009

I don't have a cage but I know what they are for mostly I will be dealing with the auto tires later I may expand into the big truck side if the demand is there.

Formerly PaMike · Mar 17, 2009

Play by the rules if you want to play. All this crap about having the wife own majority is a joke. Yeah, you get minority status, but if thats the edge you need to make it your gunna have a rough road ahead. Plus, with the rules the way they are you may have to PROVE she fills the role of majority owner.

Anonymous-0 · Mar 17, 2009

It's nice if you don't have to borrow but then you better make sure you have enough operating capital or you're destined for failure. Most experts say a new business takes 3 to 5 years to make a profit. If you don't have enough money to carry your business for at least a year, you can be out of business in a short time. Depending on the business, there's a lot of things you need that you don't realize in the beginning. Starting a business as a hobby might be a better way to go. Many great business ideas have failed because there wasn't enough capital to carry the business until it was self supporting. If you can get a good working relationship with your bank can help you in the long run but you need to do a lot of research and make a reasonable business plan. Dave

Anonymous-0 · Mar 17, 2009

They show up on a lot of older construction and industrial equipment as well.

waltdavies · Mar 17, 2009

SBA that's what they do.
Walt.

joe from ne · Mar 17, 2009

That will be a tough business right now. Local tire guy say's he is really slow right now and they have huge customer base. I don't see how you could buy tires as cheap as cutrate places as they buy so much quantity! I was thinking maybe specialty like a tire service truck where you go to peoples places and install and fix tires. Wouldn't have to have as much insurance and as many permits. I know if I could get someone to come here and fix tires and install them reasonable I would use them.

Anonymous-0 · Mar 17, 2009

You can check here and see what the big O has to offer.
Might be a spider web of strings attached.

www.sba.gov/services/financialassistance/index.html

TomTex · Mar 17, 2009

Business plan.
Be able to work at least 2 years without a profit, if you dont have the money to last 2 - 3 years you will fold up. You have to plan absolutely no take-home money for 2 years. Inventory alone will cost you big bucks. Tom

Anonymous-0 · Mar 18, 2009

If you accept cheques, place a board on the wall so that you can pin up all the dishonoured ones.
charley ash and credit cards would be the norm, especially now.

starting a small business

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