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    4 Replies Latest reply on Aug 8, 2008 12:05 PM by mustangman

    Starting own Ford Mustang shop, need some help with cash?

    mustangman Wayfarer

      I am going to open my own Ford Mustang shop in my home town. I am needing some help with cash to get things started. I have two business plans in mind to open the shop at home or I would be renting a shop to work out of. I am going to be restoring and modifying classic Ford Mustang to peoples wants and needs. I have a spot at home to do this, making a garage to work form and I have a Mustang to modify to take to local and distant car shows and swap meets so I can show the pubic what I have to offer to them. I am just having trouble coming up with enough cash for all the parts I need for my Mustang and to get my shop done or to rent one. If someone would love to take a change on me or know of a way to get a small business loan on not so good credit let me know please. This is my dream to open a Mustang shop and I am going to do it, maybe not today, but maybe tomorrow.
        • Re: Starting own Ford Mustang shop, need some help with cash?
          LUCKIEST Guide
          Starting own Ford Mustang shop, Welcome

          Go for it. Have you developed a Business Plan??

          Do you know about SCORE?? SCORE is FREE

          Good luck
          • Re: Starting own Ford Mustang shop, need some help with cash?
            Milleisen Scout
            Hi Mustang - congrats on your new venture. As an entrprenuer, I can relate to the excitement of being your own boss. If you are looking for $10,000, there are lots of options. My first question to you would be: where did you come up with $10,000. Have you run any numbers to determine your initial and carrying costs? Keep in mind that you may need additional capital to carry you through the first months/years until the business begins to gain traction and generate positive cash flow. I consult with small business owners on issues such a projections and financing (both traditional and alternative). You can reach me at milleisen@hotmail.com and we can set up a free initial consultation. Even if you are not ready at the moment to pull the trigger on opening the business, I can try to give you some things to think about as you prepare.

            As I always ask entreprenuers - are you comfortable starting a business knowing that 80% of small businesses fail within 5 years? Are you willing to lose what you invest and sacrifice immeasurable time and energy? By no means am I trying to discourage you, but I firmly believe walking into a business with your eyes wide open. This means planning for the business, but also contemplating exit strategies in the event that it doesn't pan out.
            1 of 1 people found this helpful
              • Re: Starting own Ford Mustang shop, need some help with cash?
                mustangman Wayfarer
                Thank you for the bit of information. I do not have the 10,000 yet. I am thinking I could use as little as 10,000 to get started. I know this will take some time to get gong to show people my work and to get my name out in the Mustang world. This is why I have decided to start at home in my garage and use my own personal money to finish my garage and to do some traveling to shows and to advertise. I have a good job now so I can afford to do this part on my own. I am needing the money so I can buy all the parts and materials needed for my own Mustang that I am going to show off and get future customers to see. I am looking to have my garage done by the end of Jan. 2009 and have my Mustang done by the end of April of 2009. This way I can get out and get to local and distant Mustang shows and events. Thank you again for the input and I will email you.