Hot Rod Entrepreneurs, How's your business doing?

Question for all Hot Rod and Custom Shop Owners...

Okay, so we now know that the U.S. is in financial dooky and the feds are gonna save it even if it means putting the burden on us the taxpayers or should I say the breadwinners for the governement (we aren't supossed to know that). Some experts in Washington say we are in a recession or may be heading to a depression if they don't come to our rescue.

Whatever happens, or is happening now, my question is this: "If you are in the hot rod or custom biz, how are things going? Is business great, good, slow or dead? What are your plans to keep it going?"

Whatever happens, we need to keep our businesses at full speed if we want to survive all the BS they (feds) are putting on us. I hope the paper shuffle from the gov doesn't affect they way our clients spend money with us. We are selling a luxury not something they need to live.

I may be a little paranoid about the way things could turn out, but I've been in the game for 30 years and have learned to keep watch because if you don't have a back-up plan or plenty of bucks under the mattress, things like ths will bite you where it hurts.

Mikey

 

So far business has been steadily improving for me. I thought that the gas prices first would cause a slowdown, but it seems to keep going (knock on wood). Though I have been getting some strange requests. Like chopping a 67 Mercury 4 door hardtop.....

 

As a customer, this is the best of times! A shop is finishing up a car that I'll take to GG in Scottsdale this year. I'll pick it up and finish the little stuff next week. This shop has been bending over backwards and the timetable to finish was moved up six months! The same day I get the monthly bill and progress photos via email, I stuff a check in the mail rounded UP to the next $1000. Last year I couldn't get a deck builder to return my calls. This year, contractors return my calls and put crews on the job instantly.

I'm old enough to have gone at least two major economic downturns. This one is tough. However, the economy always seems to bounce back. When I had my ad agency in the late 70's, I was paying an annualized interest rate of 25% on a line of credit! I survived as did the hot rod industry.

A word to the wise: gold chainers might be assholes, but cash talks and bullshit walks!

 

Business is great here, we have all the work we can handle and then some. It seems that the people with the money to spend on restorations and hot rods aren't all that impacted (yet?)

 

Repro and specialty parts seem to be gaining momentum. People will always have their toys.

Shawn

 

I buy and sell late model cars, trucks, vans and suvs. I have specialized in trucks and suvs for the past four years. Guess how that is going! Fortunately, about three years ago, I embraced my hobby and married it to my business. Now I sell more hotrods, customs and collectible cars than I do late models. Not a get rich business by any stretch, but I am enjoying myself, thanks to the hotrods. For a bit of self-promotion, check me out at www.topnotchvehicles.com Your comments and contact are always welcome. Hang tough everybody and be smart.

 

There,,,,fixed through translation.

 

I seem to be busier and with good sized projects, and better customers for the most part, than I have been in about 7 or so years...got a few big projects in with good clients, got a couple more big resots coming in supposedly also...mayeb people are finally finding me after 17 years....
Tim Strange
www.strangemotion.com

 

Guess I'm in the wrong end of the automotive field. This will be the first full week I'v had this year. It's really startin' to sting.

Edit: The guy who just did some exaust work and other stuff on my truck is booked up for the rest of the year.

 

I'm absolutely buried with upholstery work... Haven't seen a slow down at all (thankfully!).

 

i've also been wondering how hot rod shops are doing , or will be doing in the future. This is the only thing i can picture myself doing in the future im just hoping there will always be a place for it in the future! I think there will always be a future for this hobby.

 

I don't work at a "hot-rod" shop per say but I can interject this tidbit of wisdom from nearly 23 years of time in this biz... when times are hard people fix what they have and don't go out to buy new "stuff". For those of us that make a living off of fixing things rather than replacing them we are stable... not killing it but still able to put food on the table and keep the lights on past 10 o'clock. Not many of us that work in the automotive field will ever be millionaires... but if you know what your doing, take pride in your work and have a talent most schools stop teaching when "special ed" came in and "shop classes" went out then your going to be allright.



p.s. i've always had to keep telling myself... "that s.f.b. on the phone is another pay check... don't laugh or get pissed off until after you hang up"

 

Its amazing how the contractor thing works like that. We moved our shop and I tried like mad to use the local guys to do our shop buildout. They came back with high prices when I was lucky enough to hear back from them.

We need this kind of stuff to happen to weed out people that run their business like that.

-Jason

 

Thanks guys for taking the time to express your thoughts and ideas, For me all of you inspire me to keep the faith in what is not the easiest way to make money, but for sure the most fun. And without all of you, I would not be doing what I love to do...laying down the lines.

Most people in this industry are very creative and own the "survival gene". I'm proud to be a small part of this group of business owners who do whatever it takes to satisfy the ones who pay us.

As for things here in central Texas, the rod & custom shops seem to being doing well. I visited one today and they have shop full of projects ranging from changing a fuel pump on a 29 Sedan to a 65 Chevy truck with over $150,000 put into it. Crazy. Huh!?

The Pinstriping biz is the same as it always has been, great one month and just paying the bills the next. I think that us as a group of car crazies, it really isn't so much about the green stuff, it's about doing something you love, owning a cool ride and getting to burn rubbber when therapy is needed.

To survive and thrive, you just gotta know how to market your business to not just the affluent client, but the ultra affluent who demand premium services and products and don't mind paying for it. The crappy economy has no bearing on what they spend as long as they can own the most outstanding toy.

Let just keep "doing bad things to good cars" and I believe we'll survive this crazy time.

Mikey
www.MikeysPinstriping.com
"I Do Bad Things to Good Cars"

 

things are not so good and my area, my area revolves around the big three, right across from detroit, everyone is getting laid off. i work on everyones toys and thats the first thing they are getting rid of....

 

I think if the gold chainer knew he was being called an asshole, the cash would walk.

 

Been good for me. Playin with peoples discretionary money is just that. They don't care if the market does weird stuff, they already made their money. I am working on cars that they don't "need", more like they jones for, though.

Always gonna be someone who has an electrical issue or need of a complete custom wiring job. Also do some mechanical and performance tuning, but only on a select few.

 

Originally Posted by denis4x4
As a customer, this is the best of times! Shops are kissing my ass because they have to. I dont care if they all fail as long as I get my car done
There,,,,fixed through translation.

You forgot to bad mouth the part where I pay the bill the day I get it. On second thought, you don't get it!

 

You need to shut off your television and quit listening to Chicken Little AKA the Media. The world is NOT coming to an end soon unless your name is ACKmedeenijad. Self fullfilled prophecies have a way of working for the person wishing them.

 

+1 T... I've made a living stitchin' on hot rods for about 14 years... My inlaws are still amazed people pay me to work on their toys. (my father-in-law swears boats would make more $$$).

The economy will rise and fall like the tide. Like my investment guy told me "if you look at your investments everyday, you will go nuts... let it do it's thing." And I believe him. (besides, I can't cash-in for another 34 years!!!!).

As someone else stated... guys with the $$$ for toys don't care about what the markets are doing.

Sometimes it's good to turn the "NEWS" off!!!

 

Funny, I thought the business would be slow on this too. My dad and I use to get late and eary 40 cars and trucks and get them started as street rod projects and sell them and all that was needed to be done was painted, interior and finishing. Now I have started back in this business in a long while but I got approached the other day if i would be interested in restoring a 55 chevy. Course i want to get my projects done first, but it did interest me and i might do it. My dream is to one day open the rod and custom shop that my dad and I talked about several years ago before he died. When he died, that dream died and i married someone who was not support of me doing this. Well she is no longer in my life, the selfish , well anyway, and now i am getting to think, that might not be a bad dream to take on!

Also my mom's business which sells primitive furniture and stuff like that is doing really good. Can't tell you how many times i have to go help my step dad deliver furniture. But when the economy was ok, things were sort of slow.

 

Busy in Kansas. Can't find enough good help though.

I did pick up on the part where you put a check in the mail the next day. I'll take a chainer that will pay his bill on time over some guy that puts me in the bad position to have to call and ask.

P.S. anyone looking for work in this industry that is qualified p.m. me. Mike

 

Oh, i wished i lived in Kansas, i would click my heels to be there, oh wait was that in a movie?

 

Been busy as hell, but struggling with bills as expenses have gone ballistic. People certainly are not buying like they used to. Every time I turn around I am getting another $2000, 3000 bill for something.
People aren't buying shit, I have about a dozen $100 bills up for sale for $50 right now and people don't even turn my way...the ones who do offer me $25 when I can get $40 cashing it in to the bank. What gives with all the cheap ass people in this country?

I can't wait for Obama's miracle plan to tax the small business...I mean give the working class a break.

Something has to give or I won't be able to make it much longer. There is no way my finances can last another year like the last 6 months have been. Maybe Bush will loan me 10 trillion dollars to bail me out. That would tide me over for at least two weeks.

WTF? Does it take 80 BILLION dollars to get some stupid company back on their feet?????? What the fuck are our leaders thinking! Bail them out for what they NEED. Put the dumb fuckers that run that company in JAIL. Better yet, take everything they have away and make them work at McDonalds for a few years and see what it is like in the real world.

 

An asshole with money, is still an asshole,,,,I get it just fine

 

The POST was asking guys that actually BUILD and own shops, how is it going? I must have missed the part where it says "hey all of you guys with a checkbook, hows it going?"

 

Cliffy:

The biggest problem in North America is both our governments are encouraging small business to go underground.

Hell, when I looked at opening a shop the city, provincial and federal governments wanted ALL of my money before I had a chance to earn it, then while I was earning money they would "only" take 1/3rd of it.

Good thing cash is king.

Shawn

 

Not sure I am qualified but I do occasionally have a couple of hours on Sunday afternoons .....Business good in central Kansas also.
Mike

 

I agree with Lotek Racing about the underground deal. Politicians are forcing us to stay, or go, underground in order to survive their sensless financial dealings. They are turning honest people into what they call "whitecollar criminals" (their idea, not mine),

A growing group of small business owners see it as a way to stay above ground and still have money to keep the lights on and food on the table while getting paid under the table. From my vantage point I see it everyday.
One of the guys in a large hot rod club told me that his customers are paying in cash more than ever for his plumbing services. At the shows I see that people have no problem buying what they want with cash. So it is happening and will continue as long as the "lettuce" is flowing.

Lonewolf Street Rods..Yes we need to ask the people with the checkbooks (customers) the same question "How is it going?". I figure if they are writing big checks to the shop owners, then they must be doing just fine.

Our success is pretty much determined by customers who gladly pay us for something they don't necessarily need. When they are doing okay and spending money, then we're okay as well. You have a good point though.

Mikey
www.MikeysPinstriping.com
"Doing Bad Things to Customers Who Have Lot's of Money"

P.S. Just wanted to say thanks to all of you who take the time to comment on my question. It is very important to me that we keep the small businesses alive because they are the lifeline of this industry. Your ideas will inspire others to keep the faith in what is the best industry in the universe...hot rods, kustoms and law breaking rides.

 

Wether it asked it or not it's good to know.

And I hate to say it but all goldchainers are not assholes. There are more than a few guys out there that are car guys that don't really have the skills but they have the money. They're the best customers to have.