How much initial $ investment does it take to do this full time and make money?

Sac_HydroSac_Hydro Posts: 1,050Member ✭✭✭✭
I have been asked this question many times as I am sure most full time dipper have. Its a very difficult question to answer as a lot depends on what type of equipment you must purchase, shop expense, licensing, consumables etc...
I know there are other threads talking about how many shops go out of business by underestimating what it will cost to make it, but none that I have seen that talk about actual $.
I was in a long in depth conversation with a guy who wants to start up in the Stockton Ca area yesterday and when he asked me "how much would you say is the bare minimum $ start up cost and to get through a few months of learning"?
I said bare minimum if you go into a shop and you don't have any major equipment? -- MINIMUM working your **badword** off finding good deals and a lot of DIY? $30,000
He began to tell me I am out of my mind and he can do it for less than 10k. After going round and round for about an hour, I gave him my card and told him to make sure he calls me when he goes out of business and I will make him an offer on all or part of what he has left.
So am I the crazy one here? I actually think 30,000 is a struggle and you should have a minimum of 50k in resources if you plan to open a true full time shop.
Soooooo tell me what you guys think is a good number?
BTW I am not talking about garage or at home shops.

Comments

  • K2ConceptsK2Concepts Posts: 13,380Administrator El Jefe
    I agree...my wife ran the numbers when we first started..$30,000...and I had PLENTY left to buy and if it wasn't for my AC business? I would have failed. So the bigger question is "Few months of learning?"...Really?...I would love to see how many businesses are making money after a "few" months...it took me 3 LONG YEARS before I pulled a paycheck out of K2 Concepts...and if I knew that to begin with? I doubt I would have started the business...but wonders never cease huh?...

    So in the end? I would say what kind of money can you live on until the business takes off? Probably $150,000...

    As for someone who hasn't even started one of these businesses and then telling YOU (who is in the business already) that you are crazy and HE knows the key to making this kind of business work?...Which one of the 2 in that conversation sound crazy?...lol...

    I usually get off the phone as fast as possible when those guys call me...they are as bad as the guys that call and say "Come on Jim, I think I can learn all there is to know in 1 day...I really don't need a 2 day class."...I'm like "You don't even know how to dip and you are going to tell me how to teach you?"...Does anyone else think this is crazy here?
  • preedpreed Posts: 393Member ✭✭✭✭
    couldnt even guess, still learning, still spending...
  • TsunamiTsunami Posts: 4,952Member, Business Ninja ✭✭✭✭✭
    Bingo! I think your right in the ball park. $30,000 is going to get you set up properly but you will need some living expense for a few months before the jobs start coming in if you hussle. They wont just show up. If you don't have the extra capitol for you and your family you are setting yourself up for failure. Can I get in on buying some of the guy in Stockton's stuff. Good thread.
  • Freedom HydrographicsFreedom Hydrographics Posts: 245Member ✭✭✭
    The owner has a wedding business, if not for that, I wouldn't make a paycheck. We have been doing auto body for years, so we have a booth, blast cabinets, spray guns, etc, that we have bought over the years at who knows what cost? Just since we started hydro dipping 6 months ago we have have invested 12k. So far we have made about 3k  back. 
  • K2ConceptsK2Concepts Posts: 13,380Administrator El Jefe
    As of right now? We have about another $30,000 into the business...and I am getting ready to spend another $10,000 setting up the new shop...which is pretty conservative if you ask me...so probably $75,000 by the time I am done...easy...to date...
  • divinedragon13divinedragon13 Posts: 204Member ✭✭✭
    edited March 2015
    30k seems about right i'm fig 15k in home shop if i was start up that get just basic set up 30k be a lot better.think alot company fail do expecting large incomes fast and little research.
  • jtagliajtaglia Posts: 2,295Member ✭✭✭✭✭
    What a loaded question. The more the $ you have the better off you are. Sit down & take your living expenses' & then figure how much expense your going to have in practicing to get your dips right. I just spent almost $2,000 on film to have in stock, but I am going to sell some on EBAY, so watch for that. It costs money to go out & talk to people & still keep your dipping up to par. I think Jim & Dave are in the ball park with $30K.
  • WileECoyoteWileECoyote Posts: 6,481Member, Moderator, Business Ninja El Moderator
    I would say Brutal is at around $20,000 but we pulled alot of stuff out of our @$$, and we have access to alot of products being where we are.
  • MarcMarc Posts: 55Member, Business Ninja ✭✭
    We started 14 months ago, 1st official opening. We went to training with K2 before we bought our first piece of equipment. I have all ways thought buy the best and buy it once. We have about 35k to 40k invested. There are allot of unseen expense after all your equipment is purchased. Film, Paint, activator, solvents, tape, scuff pads, materials for prep,paint, dip stands ect, ect. Seemed like there was always something we had not thought about. 30k sounds like a big number, but you will be surprised what you spend on the unseen expense's.
    Just my 2 cents.
  • divinedragon13divinedragon13 Posts: 204Member ✭✭✭
    i can see where need 30k+ . tank 10k rise station 3k paint booth 3-10k paint guns 500 training 2k that just about 20k before supplies and misc stuff.unless you got skills build some stuff on your own then be a lot cheap get equipment ready
  • Sac_HydroSac_Hydro Posts: 1,050Member ✭✭✭✭

    i can see where need 30k+ . tank 10k rise station 3k paint booth 3-10k paint guns 500 training 2k that just about 20k before supplies and misc stuff.unless you got skills build some stuff on your own then be a lot cheap get equipment ready

    I was 30k deep building my own tank and rinse stations...

  • TroubleTrouble Posts: 346Member ✭✭✭
    Spent about $5000 buying out a small 4ft set up from someone going out of business. I already had a shop and compressor. We are upgrading to a big boy tank and adding on to the shop. I have $35,000 allocated for this. I am doing all of my work and electrical. shop should be finished in a month so I will be ordering my tank new tank soon. If I had everything on my wish list it would cost $150,000 easy more if I had to hire a contractor.
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