Steve Saunders Goldwing Forums banner

Status
Not open for further replies.
1 - 20 of 28 Posts

·
Premium Member
Joined
·
2,838 Posts
Discussion Starter #1
imported post

Most of you bros kwow about my disibility, so that puts me in a minority. I have been thinking for a while about opening a Goldwing Shop that will only service Honda Goldwings that are over Honda's 10 year limit. I would and could qualify for a Governmeny Grant, hire a couple of Honda Trained Mechanics, Service, Refurbish, and Sell Goldwings from 1980 Up. Do you think this would be a good idea? I hate this dam disibility, but it has been a God Given and much needed income. How about some input? Do you thing it could be profitable? I cannot do any physical work, but I think I might be able to do the bookwoork, spreadsheets, and using Quickbooks.
With the current price of used Wings, starting out with about 100 would be a good start, and stock aftermarket parts, purchasing via bulk.
Nightrider1
 

·
Premium Member
Joined
·
6,947 Posts
imported post

I'm thinking you'll want mechanics who are well versed in all breeds of motorcycle David, otherwise you'll run out of 10+ year old Goldwings in Alabama that need fixin'.
 

·
Premium Member
Joined
·
2,838 Posts
Discussion Starter #3
imported post

Yes, Very True. I have thought about that. It would require mechanics who knew several different years of wings, mechanical plus electronical, as well as the equipment for rebuilding, painting, and troubleshooting, also, the expansion of this could be profitable. I have had many years of Buiness Mangement. Plus, I would have to send them to Montgomery, Alabama for testing and sertification for refurbushing/restoring, be bonded for a minimum of $10,000.00 and Insurance, a good attorney to write out a business clause to protect thy butt. (like if you have an accident, you release us...etc. A good refurbished wing could bring in a decent profit with a 90-180- or 1 year waranty, because the problems are usually minor, unless someone did not torke down a rod bolt or something. This life I am livin is just existing, and I think I might be able to do something to make it worthwile for myself or someone else.
NR1
 

·
Forum Diplomat
Joined
·
7,368 Posts
imported post

Generally, I think you have a very good idea.......

Because of the recession/depression we are in, fewer people are going to be buying new bikes, and more will either be fixing up what they have or looking for good used deals. In other words, the fat life we've all been living is gonna come to a close...! Mosh Scosh! I think the market for bike repair or for good used bikes will grow faster than for brand new stuff right off the showroom floor.

Ever seen a picture of the cars and bikes in Cuba? Because of the embargo, they have had to make fifty year old cars, trucks, and bikes last and last and last and run and run..... and it can be done. Cuban bikers have even got real good at adapting car parts to motorcycles......

Yup, good idea, Nightrider.......

Good luck to you, sir.......

(btw, I don't know what your disability is, but your life is already worthwhile, my friend...... You have a purpose just because you are here....... Look around and give one person a hand...... that makes you worthwhile, and pays your celestial bill, buddy! Double Good luck to you, sir......)
 

·
Premium Member
Joined
·
2,838 Posts
Discussion Starter #5
imported post

Cousin Jack,
I believe I might be able to get it started even If I had to only work on.refurbish, and sell 1980 through 86 1100's and 1200's. That seems to be what is selling the most tight now anyeay. That would be a good start, and then eventually move in to the 1500's. A beautiful fully refurbished 1980 would look beautiful, plus, if you had good compreccion, replace the water pump, tires, tune up, oil, and a good paint job. If it could clear at least 1000 to 1500 ea, I believe I could make it fly, but i would really ave to find some "Decent" Goldwings to start
Come to thing of it, If I joined the credit beurea, I could finance with a down payment, or get a bank to finance them for me. There is a place in Gadsden who I could subcontract Chrome replating, plus power coating if needed. I have a good paiint man.
Nightrider1
 

·
Premium Member
Joined
·
1,059 Posts
imported post

I know what you are dealing with buddy, been disabled since 1999 and have been through the same surgeries as you have and a few more to boot. I don't know how long you have dealt with it, but the first three years bout did me in mentally.

I would love to see you make a go of it, but keep this in mind please. You can try to go back to work and still draw your SS for a year. Give the business a try and if it doesn't work out, you could still stay on SS. Just make sure that you don't let them say you can work because you are running a business part time!!

I tried a few years ago to get them to let me work part time as a gunsmith. I was told there was no way to work part time and stay on my SS, it was either all or none. They don't make it to where a guy can get back to doing something even if it is just a small business like what I was going to try and do and still draw so be careful.

If you're like me, there is no way I could work an 8 hour day for anyone. I could piddle in an office for a while on my own, but I could not get anyone to hire me nor could I afford to let the SS get away if I wasn't earning enough money. Just food for thought as I think you are in the same boat in that regard. Ask an attorney a lot of questions before you step out there away from the nest. I certainly am not trying to mess with your plans, just don't want to see you get in a bind.

Holler at me some time if you want to talk about it!

Jeff
 

·
Premium Member
Joined
·
2,838 Posts
Discussion Starter #7
imported post

Jeff,
I have given that a lot of thought also, and I do know about the year's trial. I honestly do not know if I could do it, but I would be willing to give it a try if the gov would do the grant. I have been studying on it, and I could qualify for up to 200K + if needed. If I could make it, they could have it back. If I couldn't, I would have to live in this existence, and to merely exist just does not cut the mustard anymore, and you know what I mean. I guess I would rather try or die, if I get the chance to do it.
Thanks Brother,
NR1
 

·
Token Canuk
Joined
·
8,236 Posts
imported post

Sounds good David & good advice. perhaps you could include a "Mobile" service for minor repairs, oil changes etc :waving::waving:
 

·
Premium Member
Joined
·
5,381 Posts
imported post

I hate to be a wet blanket but starting a business that caters to people with limited money doesn't sound viable.

The bike in this picture went for $3000.00 Canadian. What would it cost to bring a wreck up to that standard? The trim on this one has been gold plated.

The only people making money in this game are the auto restorers working on vintage cars. They do nut and bolt restorations at $100.000.00 or more. Many of the cars aren't worth it but the owners have sentimental values.

The shops have spent years and much money developing their reputations by doing show cars. They own museums to display their handiwork. All take big $$$s.
 

Attachments

·
Premium Member
Joined
·
527 Posts
imported post

there is a shop near me called american wings. when they first opened shop all they did was goldwings, no matter what year. that was fine for a while but because of limited buisness working on only wings he now works on all bikes and makes more money
 

·
Premium Member
Joined
·
213 Posts
imported post

Why not work on all classic Hondas?



There would be a much bigger market, the mechanics should know their stuff and you could have the Goldwing side of the business as 'your thing' !



Develop a reputation as a good old fashioned bike shop and the work will come!



Good Luck



Roy
 

·
Premium Member
Joined
·
21,185 Posts
imported post

The concept sounds a great idea from here, but I have to agree with some of the others that you may be much better off not specialising exclusively in the current financial climate, but instead trying to cater to as wide an audience as possible.

Whilst the restoration idea sounds idylic, it would be general servicing and repair work that would be the bread and butter of the business.

A business plan to work to is the first thing to draw up, to present to any form of financial backer, be it government or private, or you will fall at the first hurdle.

Since you said that you will not really be the hands on side of the business, it is imperative that you have the where with all, to drive and run the business and oversee the quality of workmanship etc.

Good luck with the venture if you go for it and I wish you well in trying to fullfil your dreams.
 

·
Premium Member
Joined
·
2,838 Posts
Discussion Starter #13
imported post

I appreciate all of the information. I can buy Goldwings in Alabama for around 1000 to 1800 ea, and a good refurb with a paint job could easily sell for 3000. It will take a lot just to get it started, as well as to finding employees, insurance, getting bonded, stocking parts, finding and buying wings, or even restore someones wing for around 1000.00, and to build the reputation. Thats just a few. Doing all Honda bikes would increase the input 10 fold or more, unless it was ordered as needed, but I guess you are correct. It would be crazy to turn down even $50.00 of work. Right now, it is just an Idea I am thinking about. The only thing about a gov. grant is that you have to record and report every penny spent, where and when it went, to what end, etc. There is much, much more that is just written here to start a business like this.
When I startrd my computer shop, I averaged around 10,00.00 Gross per month, with just me, then I added another office, and networked 10 computers, and hired a teacher to start teaching basic computer skills on Saturday, and Word on Monday, Wednesdays, and Fridays. The Word stayed full for around a year and a 1 week beginners course started at 300.00 per person. It started in Basic Microsoft Word, Intermeiadite, and Advanced, with training videos for the students (Nurses) to learn. The basic computers crapped out. We also taught basic internet that was networked behind a Nat with a 10 user licenses with Helius (Direct TV Satellite Internet) Software., so I got a rough idea on what it wil take to get this started if I decide to go with it.
Thanks,
NR1
 

·
Administrator
Joined
·
26,168 Posts
imported post

Most of us that have refurbished an old wing have put more into it than it's worth on the market even doing our own labor. I did with 2 of them and one was in rideable shape when I got it. An all makes or at least all metric shop with parts and accessories with an occasional restore project might go over well in your area but it might get pretty lonely trying to stick to just old wings. IMHO
 

·
Premium Member
Joined
·
1,304 Posts
imported post

I would suggest you consider motorcycle dismantling and a used parts business with refurbishments as a very secondary part of the business.
IMO the $$$ I have seen in the previous posts don't add up. The purchase price of the bike + carb kits + paint + labor and overheads makes the bike unprofitable. Add in a waterpump or chrome and you're definitely upside down.
I could of course be completely wrong and hate to be a wet blanket.
Good luck.
 

·
Premium Member
Joined
·
1,059 Posts
imported post

David, SS will allow you to try to go back to work. Their program works with you and can provide training. At the end of the first year, if you are able to, you can continue to work and if not you will have to be seen again by doctors and go for a review. I suggest you call or go by your local office and ask them to give you the pamphlets on returning to work. I wouldn't make a decision without it. I do wish you the best of luck with it.

I kind of agree that you will have to broaden the scope of the business in order to make money. A web-based sales I think would do better and especially if folks could bring their wing in to get worked on. Maybe concentrate on things that most wingers would be looking for as far as aftermarket parts are concerned. I know if you set up to do things like the external alternator and other add-ons would be nice.

Jeff
 

·
Premium Member
Joined
·
418 Posts
imported post

Nobbie and Dr Shemp up above make some good points about "niche markets" and they are valid, but I'm not sure that the people who I see here are particularly concerned about what things cost. Unless you are Cousin Jack with his "Million Dollar Memories" (eloguently expressed every time), most of the rest of us have reached a point where a few extra bucks for a hobby like isn't really a consideration.

I don't if that made a helluva lot of sense, but I know what I meant...
 

·
Premium Member
Joined
·
683 Posts
imported post

Nightrider, you might want to give this guy a call, his name is Bart and runs a Goldwing shop here in Oklahoma City. You could ask him about his business model and what he does to cater to the older wings. I would also consider opening up to all older metric bikes on some level, old Suzuki, Kawasakis, and Yamahas need new tires and the like and not everyone can do that. Some of the Stealerships are charging outrageous prices just for tire changes. Plus that is going to increase your word of mouth advertising because you can help anybody. Here is Bart'sinformation. http://www.wingenterprisesokc.com/
 

·
Premium Member
Joined
·
2,838 Posts
Discussion Starter #19
imported post

Thanks again for the input. I rode my bike to my doctors office today, because that was the only way I had to go, And she just said "I seen you riding that motorcycle up here David, with a smile, but I don't believe she would approve of me even attempting this, so I am not going to tell her.
84GrayWing, I will call the guy by Friday. I have to go to the bank tommorrow, and speak with one of the new loan officers. Mine quit after they merged with another company, but I have been banking with them for nearly 35 years now, but If I can find where my old loan officer went, I will change banks, unless Greg and I get along ok.
With the new economy guidelines in place, the scrutiny of loans are uncertain, but I have just got increases in my credit cards, strting April 19, 09, so I have to get those paid off first.
It is a very big becision, but I hve to weigh the pros vs cons, against my health, which is not getting any better, but going downhill. My Doc is uping my meds next month. She wanted to today, but I told her I had about 3 weeks over on all of them, which is true. So I still got a lot of praying, planning, thinking, and much research on this.
Thanks,
David
 

·
Premium Member
Joined
·
21,185 Posts
imported post

Well David, you could be doing a lot worse things than planning a prospective business, so it is good that you are researching the options.

The bit about you riding to the Docs did, I admit, give me a smile, good to see you are bucking the system and riding despite what the Doc might think you should be doing!!!:action::clapper::clapper:
 
1 - 20 of 28 Posts
Status
Not open for further replies.
Top