Detail Shop

Started by giant_mtb, December 16, 2017, 12:48:17 AM

giant_mtb

Closed Tuesday the 19th.  Looks like I acquired a parts washer and tranny jack with the sale. :lol:







Aside:  Thank you all for the kind words, advice, and support.  Closing Tuesday.  Thousands of ideas in my head.  Progress to be posted here.

12,000 RPM

Awesome man! You will do great.
Protecctor of the Atmospheric Engine #TheyLiedToUs

giant_mtb

Pops said that putting the building in my name (was planning to anyways) and charging the LLC itself rent would be a good structure.  The "rent" can basically be my personal income from the business, while the rent paid will be an easy tax write-off for the business itself...win-win.  He said it's a common practice for real estate.  So good to have a banker for a dad.  :lol:

FoMoJo

An up and coming entrepreneur.  Good stuff.
"The only reason for time is so that everything doesn't happen at once." ~ Albert Einstein
"As the saying goes, when you mix science and politics, you get politics."

Morris Minor

#4
Congratulations! :cheers: .

Lots of benefits to forming an LLC (wife & I each have one) & good tax advantages - especially with the Repubs' new changes to the tax code.

I suggest you talk to an accountant; it's worth paying for an hour of do's & don't's advice before you get rolling, & be anal about bookkeeping (we use FreshBooks, but anything is better than nothing)
⏤  '10 G37 | '21 CX-5 GT Reserve  ⏤

FlatBlackCaddy

Congrats, looking forward to details.....  :tounge:

FoMoJo

"The only reason for time is so that everything doesn't happen at once." ~ Albert Einstein
"As the saying goes, when you mix science and politics, you get politics."

giant_mtb


RomanChariot

Congratulations. That looks perfect for detailing.

Submariner

Congratulations!!!  What do you plan on doing with the building?
2010 G-550  //  2019 GLS-550

giant_mtb

Quote from: Submariner on December 19, 2017, 02:25:29 PM
Congratulations!!!  What do you plan on doing with the building?

Probably detail in it. :lol:

Or do you mean modz?  Plumbing, update electrical, water heater are top priority to get to work. Then finishing the walls (insulating), new lights, perhaps a new furnace, a wood stove would be nice.  Outside could use fresh paint, but it's not a high priority.

Shop Modz Pt 1: Xmas Lights


MrH

You need a 6 foot tall motorized hula girl with your brand name on the top.  Something to draw people in.
2023 Ford Lightning Lariat ER
2019 Acura RDX SH-AWD
2023 BRZ Limited

Previous: '02 Mazda Protege5, '08 Mazda Miata, '05 Toyota Tacoma, '09 Honda Element, '13 Subaru BRZ, '14 Hyundai Genesis R-Spec 5.0, '15 Toyota 4Runner SR5, '18 Honda Accord EX-L 2.0t, '01 Honda S2000, '20 Subaru Outback XT, '23 Chevy Bolt EUV

12,000 RPM

Damn, now it's real. Going to be fun.

I'd look into getting some help for all the administrative stuff. Buddy of mine has a thriving woodworking business and taking care of all the back end stuff was killing him. And yea be anal-retentive about bookkeeping.
Protecctor of the Atmospheric Engine #TheyLiedToUs

giant_mtb

#13
Quote from: 12,000 RPM on December 19, 2017, 04:26:36 PM
Damn, now it's real. Going to be fun.

I'd look into getting some help for all the administrative stuff. Buddy of mine has a thriving woodworking business and taking care of all the back end stuff was killing him. And yea be anal-retentive about bookkeeping.

Administrative stuff like scheduling and phone calls and shit?  Yeah, that's been getting more and more annoying for me over the years as I've gotten busier and busier.  Not quite to the point where I need to hire somebody, but having an actual shop downtown may require me to look into it. 

I guarantee my mom would volunteer to be my secretary, but she's in her 60s now.  She's got better shit to do than deal with customers.

Gotta-Qik-C7

2014 C7 Vert, 2002 Silverado, 2005 Road Glide

giant_mtb

Wow.  Over 2,000 people have seen my business' Facebook post about the shop. That's a lot for me around here...my town is ~4500. The love is real. #blessed

giant_mtb


FoMoJo

"The only reason for time is so that everything doesn't happen at once." ~ Albert Einstein
"As the saying goes, when you mix science and politics, you get politics."

shp4man

What does the office part of the building look like?

giant_mtb

Quote from: shp4man on December 20, 2017, 01:04:46 PM
What does the office part of the building look like?

It's a strange triangle shape, but it works, decent size.  A new floor would make it quite nice.



Snowblowed tonight...pretty big space to snowblow so it was weird deciding where to throw it, but it didn't take too long.


giant_mtb

Snagged this on sale at Tractor Supply last night.  Enough to run an air impact, fill some tires, blow a little air if I need to.  My 6-gal pancake doesn't have the CFM to run an impact.






giant_mtb

Got a couple warm white LED bulbs for the random sconces on the wall and two, connectable 4' sections of LED light tube for under the shelf along the back wall, which is where I plan to have my main workbench/shelving area..  Now I can light the shop for "hanging out" with a combined ~65W instead of 240 or 480W (the two rows of fluorescent fixtures are on separate switches).  Nice to have warm light instead of being under the fluorescents all the time.





Plumber coming Thursday to check the place out for me and get the ball rolling on actual necessities to start working.

Morris Minor

How have you constituted the business? (The new tax bill makes pass-throughs even more attractive)

https://www.patriotsoftware.com/accounting/training/blog/what-is-pass-through-taxation-entity-benefits/
⏤  '10 G37 | '21 CX-5 GT Reserve  ⏤

giant_mtb

Quote from: Morris Minor on December 27, 2017, 05:49:43 AM
How have you constituted the business? (The new tax bill makes pass-throughs even more attractive)

https://www.patriotsoftware.com/accounting/training/blog/what-is-pass-through-taxation-entity-benefits/

LLC, file as self-employed. I write off everything possible from my cell phone bill to my driving to my shoes.

Morris Minor

Quote from: giant_mtb on December 27, 2017, 11:00:47 AM
LLC, file as self-employed. I write off everything possible from my cell phone bill to my driving to my shoes.
Good stuff. Check with an accountant but it looks like the new tax bill allows you to 100% expense capital items up front (rather than expensing a portion of the cost each year using some IRS depreciation schedule.) So if you have an expensive productivity-enhancing bit of gear you need... (vapor/steam cleaner?)
⏤  '10 G37 | '21 CX-5 GT Reserve  ⏤

giant_mtb

Steam cleaner is on the list. :lol:

giant_mtb

Got my insurance quote.  $150k building replacement coverage, $40k garage keepers insurance (in case something happens to customer vehicle), and full coverage for my truck including coverage for driving others' vehicles...~$2,750 annually.  Seems pretty reasonable. 

Morris Minor

Quote from: giant_mtb on December 28, 2017, 11:35:38 AM
Got my insurance quote.  $150k building replacement coverage, $40k garage keepers insurance (in case something happens to customer vehicle), and full coverage for my truck including coverage for driving others' vehicles...~$2,750 annually.  Seems pretty reasonable. 
That's not bad at all.
Worth a read. I'm guessing burglary/theft & water damage would be your main risks.
http://honigconte.com/5-common-business-insurance-claims/
⏤  '10 G37 | '21 CX-5 GT Reserve  ⏤

12,000 RPM

We got warm fluorescent tubes for the house. Makes a huge difference. I got 3000K but I'd go down to 2700K if they made them.

What are you doing for HVAC in the space?
Protecctor of the Atmospheric Engine #TheyLiedToUs

giant_mtb

#29
HVAC is going to stay as is for now, but an upgrade would be nice.  Furnace is 40-50 years old. Gonna have the HVAC/plumber guy take a look at it and make sure it's clean and tuned up and run it through this winter. I'll replace it eventually. It's a monster!  Might ask the HVAC guy for a quote on what a new system would cost.  Don't need AC. Just heat.

Maybe there's grant money or something for small businesses for that kind of stuff.