Back story:
So, I've just finished uni, and fancy changing things up. I've been working on my E30 for a good few months now and would maybe like to do car restoration as a potential business in the future (maybe in a year or so). Luckily I've no student loans and a healthy amount of savings. Having made some significant money early on in life (which was mostly by luck...), I've come to the realisation that it isn't a main driver for me - I just want to do something that I really enjoy and find fulfilling.
I've gained knowledge, experience and equipment working on my E30; granted it didn't need too much work to begin with. I'm currently looking for the next project which I plan to do a full nut and bolt restoration on. I'm thinking rather ahead here, but, after that I may rent a workshop (was thinking farm building as I live rural) and start a business restoring cars.
My plan is to do my own projects for the first couple of years and hope to break even. Then once I have the experience and confidence, move onto customers cars. However, is this strictly necessary? Is it viable to simply buy my own projects, restore and resell or is the cashflow not enough? Maybe mix and matching customer work (not full restos) and some background full restos of my own could work.
Basically, I'm looking for any advice from anyone who's done this, either successfully or unsuccessfully, or anything really.
I'm quite a ways off yet from doing this but I like to plan ahead. All advice is appreciated.
Starting a car restoration business
Moderator: martauto
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steve_k
- E30 Zone Team Member
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while i've worked for myself a few times over the years i've never gone down the route you are looking at but i will sat this,
if it's something you really want to do then take your time, do the work on your cars that you know you can do, get it to as many shows as possible to show folk what you can do & build up a reputation, depending on your age it could be worthwhile talking to the likes of the princes trust (are they still going?) about what you want to do,
bare in mind though that it won't be all wine & roses from the beginning, it will be a hard slog & can take a good few years before you break even,
good luck with it, if you don't try you'll never know.
if it's something you really want to do then take your time, do the work on your cars that you know you can do, get it to as many shows as possible to show folk what you can do & build up a reputation, depending on your age it could be worthwhile talking to the likes of the princes trust (are they still going?) about what you want to do,
bare in mind though that it won't be all wine & roses from the beginning, it will be a hard slog & can take a good few years before you break even,
good luck with it, if you don't try you'll never know.
if it's got t*ts or wheels it's bound to be trouble...............prove me wrong.
getting oral sex off an ugly person is like rock climbing.....don't look down ;)
getting oral sex off an ugly person is like rock climbing.....don't look down ;)
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Blanca
- E30 Zone Regular
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- Joined: Mon Aug 17, 2020 1:26 pm
- Location: Estepona, Spain
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Having been down that road myself for ten years doing auto electrics, security and audio I can say it is long hours in all weathers, no days off because it's cold and wet (or hot) or you 'don't feel well'.
Profit margins are slim to nil if you account in your hourly rate, working your butt off without considering your labour makes you a busy fool. doing it professionally is a far cry from doing it as a hobby. All the cars I had and the one I still have as projects have been as a hobby, If I costed them properly no one could afford the finished car.
Wheeler dealer is a classic example, they total up the cost of the donor car, parts and outwork and say they have made a 500 profit but NEVER factor in the labour for the two of them .
So my 15 years working on one car is definitely not a money earner as I would never see my money back, not even for the parts.
Cost it including overheads, equipment costs, materials and profit required and draw up a business plan and stick to it,
Profit margins are slim to nil if you account in your hourly rate, working your butt off without considering your labour makes you a busy fool. doing it professionally is a far cry from doing it as a hobby. All the cars I had and the one I still have as projects have been as a hobby, If I costed them properly no one could afford the finished car.
Wheeler dealer is a classic example, they total up the cost of the donor car, parts and outwork and say they have made a 500 profit but NEVER factor in the labour for the two of them .
So my 15 years working on one car is definitely not a money earner as I would never see my money back, not even for the parts.
Cost it including overheads, equipment costs, materials and profit required and draw up a business plan and stick to it,
All comments by me should be taken in the right sprite, Jack Daniels is fine.
Off to see tomorrow so would appreciate some advice soonish. Seller says all issues on the mot which showed rusted springs etc all fixed.
Happy for me to test drive around the block and also to look under the car and prod with a screwdriver.
Happy for me to test drive around the block and also to look under the car and prod with a screwdriver.
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aimlessrock
- E30 Zone Squatter
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- Joined: Sun Dec 06, 2009 11:00 pm
- Location: Manchester
thats a nice example of an E30.
if your seriously looking at doing a resto then why not buy a real resto basket case and crack on..
2010-mine arrived on the back of a trailer from Lewisham with a cracked head, dripping oil and ATF with a shot interinor, rust holes and needings a ground up rebuild.
no better way to learn.
if your seriously looking at doing a resto then why not buy a real resto basket case and crack on..
2010-mine arrived on the back of a trailer from Lewisham with a cracked head, dripping oil and ATF with a shot interinor, rust holes and needings a ground up rebuild.
no better way to learn.
E30 320i Convertible (1989)
190 Mercedes (1988)
"there is nothing more expensive than a cheap E30"
190 Mercedes (1988)
"there is nothing more expensive than a cheap E30"
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Blanca
- E30 Zone Regular
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- Joined: Mon Aug 17, 2020 1:26 pm
- Location: Estepona, Spain
- Contact:
4.5K Not so much a restro as a 'fixer upper', selling in 100% condition for 6K and about 2K needed you would be working for nothing. unless you buy at 4K or less. (Unless you are Ed' China and work for nothing,
Just fix the seats and flip in on for a quick profit.
Just fix the seats and flip in on for a quick profit.
All comments by me should be taken in the right sprite, Jack Daniels is fine.
Don't need the money at the moment. Just want the experience. Hope to break even and be Ed china and work for nothingBlanca wrote: ↑Wed Sep 22, 2021 12:00 pm4.5K Not so much a restro as a 'fixer upper', selling in 100% condition for 6K and about 2K needed you would be working for nothing. unless you buy at 4K or less. (Unless you are Ed' China and work for nothing,
Just fix the seats and flip in on for a quick profit.
4 door is bought. Needs some welding which will be good practice for me. One wheel bearing gone, suspension needs a refresh, power steering iffy, and interior needs work for sure. Paint needs a good polish too!
I had to get this car. It's non sunroof and AC, from the dealer - a truly unique spec.
I plan to use this car as something to practice on. Engine and all drive train coming out along with the suspension. Same with the interior. Going right back to the chassis to repair any rust, removing all old underseal and repriming and then sealing again. Then will restore each "important" part, such as the engine, gearbox, diff and suspension. Dashboard was cracked but it came with a NEW one in a box. Guys had it in the box for 10 years and never fitted it.
I think this car will be a fantastic opportunity to get my teeth stuck in. 80k on the clock, 15" bbs, 370mm mtech 2 wheel, non sunroof, AC, in metallic black. Very happy. A project thread will be coming soon.
A fantastic farm building was up for rent for 500/m for 2000sq ft, with concrete suitable for car lifts, electricity and water. Unfortunately it rented out the day it went on the market and I was 30 minutes too late. For now I am tidying up the garage and working from there. I have a scissor lift installed in there and am currently looking for a small sandblasting "booth".
I had a close call in my E30 a few days ago. About 30cm from a large landrover that pulled out infront of me in the rain. The ABS does work after all!! My 325i is a really special car to me and I cannot get it on an agreed value insurance because I'm 23 (all the companies tell me to come back when I'm 25). So, in light of this, I'm off to see an e36 touring 323i tomorrow and hoping to bring it home and use as a daily. The boot space will be fantastic for transporting parts + equipment as I collect them.
I had to get this car. It's non sunroof and AC, from the dealer - a truly unique spec.
I plan to use this car as something to practice on. Engine and all drive train coming out along with the suspension. Same with the interior. Going right back to the chassis to repair any rust, removing all old underseal and repriming and then sealing again. Then will restore each "important" part, such as the engine, gearbox, diff and suspension. Dashboard was cracked but it came with a NEW one in a box. Guys had it in the box for 10 years and never fitted it.
I think this car will be a fantastic opportunity to get my teeth stuck in. 80k on the clock, 15" bbs, 370mm mtech 2 wheel, non sunroof, AC, in metallic black. Very happy. A project thread will be coming soon.
A fantastic farm building was up for rent for 500/m for 2000sq ft, with concrete suitable for car lifts, electricity and water. Unfortunately it rented out the day it went on the market and I was 30 minutes too late. For now I am tidying up the garage and working from there. I have a scissor lift installed in there and am currently looking for a small sandblasting "booth".
I had a close call in my E30 a few days ago. About 30cm from a large landrover that pulled out infront of me in the rain. The ABS does work after all!! My 325i is a really special car to me and I cannot get it on an agreed value insurance because I'm 23 (all the companies tell me to come back when I'm 25). So, in light of this, I'm off to see an e36 touring 323i tomorrow and hoping to bring it home and use as a daily. The boot space will be fantastic for transporting parts + equipment as I collect them.
Ive got my eye on a sport in this sort of condition that I may put in storage until I'm ready for it. I want to start with something somewhat light, with not too much to do so I don't get disheartened - I know myself. Personally, I think this is 4 door is a 10k car in top condition. It doesn't need many parts as far as I can tell, just a lot of elbow grease.aimlessrock wrote: ↑Tue Sep 21, 2021 8:54 pmthats a nice example of an E30.
if your seriously looking at doing a resto then why not buy a real resto basket case and crack on..
2010-mine arrived on the back of a trailer from Lewisham with a cracked head, dripping oil and ATF with a shot interinor, rust holes and needings a ground up rebuild.
no better way to learn.
I don't think I have the experience for a real basket case just yet. Of course, it'd be great to buy one and learn while doing it, but I prefer a more progressive approach. My 325i needed not much, this 4d needs quite a bit more, and the next one will be a total shitbox! Thats the plan anyway! Cheers for the advice.