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Untamed · 09-10-2004, 01:42 PM

I've had the same desire and went so far as to put together a business plan, look up the licensing information in Trenton, do marketing research on used cars - specifically F-bodies, and put together financing information for investment capital using private and/or public groups. I also gathered information on what it would take to go beyond being an auto parts / mechanics / maintenance services dealer to actually sell used cars (like partial restorations that get used F-bodies up and running for those people on limited budgets).

Having said all that, you first need to determine who your market is. Currently, full restorations (frame-off, factory spec, very minimal performance or cosmetic changes) can run in the five figures - affordable only by car enthusiasts who are in their 40's, established careers, usually married, and can afford a $15K+ price tag. The cost of the base vehicle dramatically changes depending on the resto (a '69 Trans Am costs an arm and a leg, while an '81 TTA isn't nearly as bad).

You are better off not limiting your restoration work to just a limited type of car. People who do resto work on cars, don't just choose Second Generation vehicles only - unless its a part time job ( I know you said 1st and 2nd, just making a point). If its a full time job, consider doing all 4 generations of F-bodies. My original plan was to limit myself to the Firebird line (my favorite) but quickly saw that it wouldnt be worth a full time job. If you know little about either Camaro's or Firebird's, either learn more about the other, or hire a guy who knows and has the same passion. Why same passion? Because you wont make a dime the first few months you do work, and you (and your partner) have to be willing to forgo paychecks for a while to get the business off the ground. Friends and family who are willing to be the first customers, usually can't afford major work, much less full restos. Plus you need to do the accounting, materials handling, sales and marketing... ad naseum.

Here is my suggestion:

Age:

17-25: Under $2,000 with a payment plan for the youngest.
26-35: Under $5,000 with a payment plan.
36-45: Under $20,000 with a payment plan for those who need it.
46-???: They can usually afford whatever they want, though make your prices under $25,000 to be competitive with everyone else. If they are considering a restoration by you, and not doing it themselves, they won't need a payment plan.

Remember, its not just the price of the car and parts, its the labor AND ATTENTION TO DETAIL AND CREDIBILITY. People will pay big money for high value. If your restorations are show worthy, they'll pay for it. If you're helping a friend of a friend who is on his way to college, charge a simple fee for finding a running car, make it road worthy then paint it. Thats enough to make most of us happy, but wont get you the big bucks.

Oh, and don't get me started on the effects of the economy on that type of business....

- Dave, who has the tools, the manuals, the desire and a wife who supports the idea.... but not the space or the formal education. (yeah, shameless plug)

09-10-2004, 01:42 PM	#3
Untamed Join Date: Aug 2004 Location: Hillsborough, NJ Posts: 3,200 iTrader: (1)	I've had the same desire and went so far as to put together a business plan, look up the licensing information in Trenton, do marketing research on used cars - specifically F-bodies, and put together financing information for investment capital using private and/or public groups. I also gathered information on what it would take to go beyond being an auto parts / mechanics / maintenance services dealer to actually sell used cars (like partial restorations that get used F-bodies up and running for those people on limited budgets). Having said all that, you first need to determine who your market is. Currently, full restorations (frame-off, factory spec, very minimal performance or cosmetic changes) can run in the five figures - affordable only by car enthusiasts who are in their 40's, established careers, usually married, and can afford a $15K+ price tag. The cost of the base vehicle dramatically changes depending on the resto (a '69 Trans Am costs an arm and a leg, while an '81 TTA isn't nearly as bad). You are better off not limiting your restoration work to just a limited type of car. People who do resto work on cars, don't just choose Second Generation vehicles only - unless its a part time job ( I know you said 1st and 2nd, just making a point). If its a full time job, consider doing all 4 generations of F-bodies. My original plan was to limit myself to the Firebird line (my favorite) but quickly saw that it wouldnt be worth a full time job. If you know little about either Camaro's or Firebird's, either learn more about the other, or hire a guy who knows and has the same passion. Why same passion? Because you wont make a dime the first few months you do work, and you (and your partner) have to be willing to forgo paychecks for a while to get the business off the ground. Friends and family who are willing to be the first customers, usually can't afford major work, much less full restos. Plus you need to do the accounting, materials handling, sales and marketing... ad naseum. Here is my suggestion: Age: 17-25: Under $2,000 with a payment plan for the youngest. 26-35: Under $5,000 with a payment plan. 36-45: Under $20,000 with a payment plan for those who need it. 46-???: They can usually afford whatever they want, though make your prices under $25,000 to be competitive with everyone else. If they are considering a restoration by you, and not doing it themselves, they won't need a payment plan. Remember, its not just the price of the car and parts, its the labor AND ATTENTION TO DETAIL AND CREDIBILITY. People will pay big money for high value. If your restorations are show worthy, they'll pay for it. If you're helping a friend of a friend who is on his way to college, charge a simple fee for finding a running car, make it road worthy then paint it. Thats enough to make most of us happy, but wont get you the big bucks. Oh, and don't get me started on the effects of the economy on that type of business.... - Dave, who has the tools, the manuals, the desire and a wife who supports the idea.... but not the space or the formal education. (yeah, shameless plug)