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I started my garage "business" at 22 with no experience working inside a garage or being a mechanic.

Idea threads

TLivingEngineer

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Firstly I apologise if the title comes across as sounding cocky, it certainly is not intended like that. This Forum has a high % of very successful people so realistically most peoples reaction would be "so what" and if so, I welcome that.

This will be a bit of a read, but I'll try and summarise events while still hopefully portraying enough information to you guys that you may be able to offer an opinion and some insight. As realistically in addition to being able to clear my head and write it all down, getting help from a forum like this is definitely a part of what I need.

Intro
My name is Matt, 28 years old, UK based and as the title suggests I've built a Motorsport and performance garage "business" about 6 years ago now. My family has a history of engineering knowledge, so my experience stems from that. I only started getting into cars at 18 years old, within 4 years of tinkering I got fired from my 9-5 office job, because I was spending to much time down at the workshop (sick days/excuses) etc so I decided this was the time to start my own "business". I wanted to be in control.

I quote "business" because it was a passion project. I had bought myself a job I just didn't know it yet.

Screenshot 2023-02-15 at 11.03.05.png

Here's how the workshop started

Yep again full of toys - passion project remember haha - yes that is a climbing wall.

Screenshot 2023-02-15 at 11.08.58.png

This point I started building the workshop into more of a business, needed a Clean room to build engines in, and a Fabrication room to make a mess in - started focusing on the customer more (maybe without me knowing it)

Screenshot 2023-02-15 at 11.11.14.png

Where it currently stands today.

Screenshot 2023-02-15 at 11.16.54.png

Office

Screenshot 2023-02-15 at 11.17.17.png

All you see above I've learnt and built myself because I couldn't afford to pay someone else to do it. From 3 phase to single phase electrics, plumbing, framing, ramps, air compressors etc etc (Again this isn't a gloat just to paint a picture - most of you guys have the luxury of being able to afford to pay people, who's really the sucker haha - ME)

Within the last year (2022-23) I've also finished renovating my first property while keeping the business afloat.

Kitchen before

kitchen before.jpeg

Kitchen after

kitchen after.jpeg



Bedroom viewing into Bathroom before

bedroom bathroom before.jpeg

Bathroom after

bath room after.jpg

Bedroom after.

bedroom after.jpeg

The plans for this not 100% - would make a very good rental, it was hard work but I enjoyed doing it, learnt a lot of new skills, again I couldn't afford anyone to do it, so I did it all. From plastering, tiling, planing the wood, kitchen, underfloor heating etc etc

For anyone interested in the figures we bought the property at £155k and had it revalued the other day at £275k with £40k put into it.

I digress - back to the business, I included the additional house bits as I wanted to paint the picture of;

- I'm not afraid of risk, I thrive off it
- I'm not afraid of hard work, if anything I purposely make things more complicated and harder than it needs to be - things have to be done right.
- I and everyone can turn their hand at anything, you just got to want it bad enough.

The biggy - while did I feel the need to come on this forum -

Business overview.


The business on paper turns over from 2021-22 £220k, with a net of £40k
Had 1 employee from 22-23, then 2 more 23-current (just left)

We are quite a niche where we specialise in a lot of things nearby companies don't do - engineering, engine building, gearboxes etc, chassis set ups.

(CENTS)
(C)ontrol, I'd say that's 50/50, control over pricing dictated by specialists around the UK and most my customers want the cheaper end.
(E)ntry barrier to entry high and competition low-ish. A lot more DIY'ers now taking to the scene doing the work cheaper etc.
(N)eed - We do solve customers needs by expanding our services to cover their needs under one roof, even while pushing my workload to the max
(S)caling almost impossible - as said above I hired 2 more employees in 23 and have interviewed many and none of them have the specific skill sets we are looking for so I let them go, and we are now back down to 2 of us.
(T)ime is a huge factor, I'm a core part of the business at the moment, do everything from being on the tools, to admin, to marketing, to building a new website (e-com) I've started taking weekends off to focus on working ON the business not IN it. which is a bonus as I wasn't able to do that before.

Where my head is at..
I'm honestly struggling, and I've been struggling for a long time, I feel like understand where I need to be, and where I want to be, and the thought of that excites me, but the energy required to get there says otherwise.

Passion, hmmm going...gone
Attention to detail, dwindling away
Motivation, dwindling


But this started off as a passion project, I have absolutely no doubt I can turn it into something bigger and it's already going that direction, systems have started to be put in place BUT since I've been learning myself over the last 2 years (Reading non stop, better diet, health, psychology, meditation, and entrepreneurship, finance)

I've realised/ learnt/become wiser to, that there is much bigger and better opportunities out there (is it a grass is greener situation ha ha) much higher leveraged, much better returns, much easier to scale, a bigger market, more customers.

Maybe I'm being a bit OTT, and while I absolutely love the journey I have been down in regards to acquiring skills to be self reliant in life and I don't believe money is EVERYTHING, but I do believe in becoming financially free, I can't shake the feeling of; if only I had put a bit more attention into something I can leverage more, E-commerce etc - I would be here being able to grow bull shit skills like plastering in my own free time, not because I HAD to because I couldn't afford it.

You've still not answered why you're writing on this forum Matt...

I recently had the business valued between £150-250k with an asking price of about £200k. Yeah it's not much but I feel like its a great opportunity to one, take some time to reset, go back to the drawing board, invest in myself more etc and then use the remaining capital to invest in a building a business with the skills i've learnt, plus learning from the mistakes I've made - I don't know what that thing is yet, but I know what the foundations it would be based on.

So with the limited stuff you know about the situation, what would you do? Sell the business and start again using all the knowledge I've gained recently, OR push through and grow my garage business with limited funds?
 
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UK_Mike

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All else aside, I am jealous of your shed. In particular the way you have resisted filling it up - I have a fairly large shed for my cars and bits and pieces, and currently (because I bought another project and stripped it down to a shell, so it takes the space of 3 cars now) there is virtually zero spare floor space.

On-topic for a minute, if you are an integral part of the business, I don't see how you could sell it for that kind of money and then walk away from it. If you're not part of it, what does the buyer actually get for their money?
 

RicardoGrande

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Dude, wow!
Congratulations! Both on taking action, but also persisting and having it unfold like this.

There's almost too many things to comment on, but most amazing are being dedicated to this to the point of getting fired (lmao) and also learning all of those extra skills like carpentry and having that amazing transformation with your loft.

One last question, are you sure you wouldn't want to try to expand and scale? You mentioned your energy is dwindling and it's manifesting in your work. On the flipside, in my part of Texas we have a crazy amount of performance shops that do really, are in high demand, and it seems like we get more by the day. Surely the same amount of energy is over there in england?

Whatever direction you decide to take if you do sell it, best of luck.
 

UK_Mike

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On the flipside, in my part of Texas we have a crazy amount of performance shops that do really, are in high demand, and it seems like we get more by the day. Surely the same amount of energy is over there in england?

It's depressing how many of these smaller places have shut down - mainly through the owners getting older and retiring and having no-one to pass it on to. On the farm where my shed is, there's a guy doing similar sorts of work to the OP, but I can think of a lot more that have gone than have opened. And places that do stuff like chrome plating, radiator re-cores and so on are reducing too. On the latter, I suspect more people just buy new fancy aluminium rads rather than getting their original ones re-cored, so that leaves less demand and those that can still do it stick the prices up because they can.

The other depressing thing is that traditional skills like making panels, fixing wire wheels, that sort of stuff, are in danger of dying out for the same reason - little interest in people taking on the skills. Heritage railways are in a similar position - the workshop at one local place was entirely staffed by people who had already done the job for their working life, retired, got bored and started to volunteer doing the same thing they hated when they were getting paid for it. But once they've gone, there are fewer coming up to replace them.
 
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TLivingEngineer

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All else aside, I am jealous of your shed. In particular the way you have resisted filling it up - I have a fairly large shed for my cars and bits and pieces, and currently (because I bought another project and stripped it down to a shell, so it takes the space of 3 cars now) there is virtually zero spare floor space.

On-topic for a minute, if you are an integral part of the business, I don't see how you could sell it for that kind of money and then walk away from it. If you're not part of it, what does the buyer actually get for their money?
This is a very good point... My naivety and what I've been told by many brokers is that a private investor may look to take on responsibility to employ or fill the position themselves...
 

UK_Mike

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This is a very good point... My naivety and what I've been told by many brokers is that a private investor may look to take on responsibility to employ or fill the position themselves...
In a way it doesn't matter, because you'll be gone by then, or at least working a golden handshake period and it won't be your problem. I just wonder where they get the value.

I should add I have zero experience of what you're doing on the business side of things - I've started a bit of a business doing some of the stuff I've had to do for myself, but I doubt anyone would consider it to have any value.
 

TLivingEngineer

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In a way it doesn't matter, because you'll be gone by then, or at least working a golden handshake period and it won't be your problem. I just wonder where they get the value.

I should add I have zero experience of what you're doing on the business side of things - I've started a bit of a business doing some of the stuff I've had to do for myself, but I doubt anyone would consider it to have any value.
I guess the value comes from having a business with repeat customer base, the lease of the workshop (hard to find a good premises) the turnover and net profit, social media presence - Instagram 2500, Facebook 2500, Tiktok 44000 to list a few maybe...
 
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UK_Mike

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I guess the value comes from having a business with repeat customer base, the lease of the workshop (hard to find a good premises) the turnover and net profit, social media presence - Instagram 2500, Facebook 2500, Tiktok 44000 to list a few maybe...
You could be right. Please don't take my random ramblings as any kind of discouragement.
 

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First of all…anice project! I m at building a garage with similar prerequisites. Doing all myself with my family was one of it.

Well, doing that, you will have a job.
Maybe youcan find a niche. For example building a tool to remove injectors or similar.( I met a man doing that for real much money, driving over the whole country and pulling maybe 3 or 4 cars injectors a day. He allready retired.)

You could try to get so someone to make videos about your work. Maybe hide the specialist things a bit, but show, what you do.

And in the end, if everything fails, you still can make a few oil or break changes. Maybe niche down to sports cars. Another man I know, does that with Porsches .
 

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If you really want to sell it, contact other outfits and ask if they or anyone they know is looking to expand.

You are offering them instant expansion.

Dan
 
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TLivingEngineer

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Dude, wow!
Congratulations! Both on taking action, but also persisting and having it unfold like this.

There's almost too many things to comment on, but most amazing are being dedicated to this to the point of getting fired (lmao) and also learning all of those extra skills like carpentry and having that amazing transformation with your loft.

One last question, are you sure you wouldn't want to try to expand and scale? You mentioned your energy is dwindling and it's manifesting in your work. On the flipside, in my part of Texas we have a crazy amount of performance shops that do really, are in high demand, and it seems like we get more by the day. Surely the same amount of energy is over there in england?

Whatever direction you decide to take if you do sell it, best of luck.
Thank you for the comment, I'm trying at the moment, and things arn't going badly I'm just not sure its the right fit anymore.

Yeah there's a lot more performance shops popping up than there used to be, especially online.

thank you mate
 

TLivingEngineer

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If you really want to sell it, contact other outfits and ask if they or anyone they know is looking to expand.

You are offering them instant expansion.

Dan
Yeah I've actually got some private local guys interested as we speak.

thank you
 

WillHurtDontCare

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@TLivingEngineer damn this thread is cool - the renovations look great

Could you build an ecom business around car accessories? Something like underglow, or whatever modifications people would want that could sell for $100+
 
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TLivingEngineer

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@TLivingEngineer damn this thread is cool - the renovations look great

Could you build an ecom business around car accessories? Something like underglow, or whatever modifications people would want that could sell for $100+
thanks for your reply,

I'm building a website at the moment which the idea behind it is to sell products, still a bit more research into the whole E-com side of things, as I drop ship parts "unofficially" at the moment.
 

TLivingEngineer

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I've never ever had such big ball and chains around my legs as I do currently, like where I'm at currently, my life is "easy" with a load of scope for scale compared to the last 4 years, but why I feel like Im unmotivated and 'cant' do it, I have no idea.

I really need to pull this apart before making any decisions.
 

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I've never ever had such big ball and chains around my legs as I do currently, like where I'm at currently, my life is "easy" with a load of scope for scale compared to the last 4 years, but why I feel like Im unmotivated and 'cant' do it, I have no idea.

I really need to pull this apart before making any decisions.

Stop thinking and throw yourself into it. Do something that adds social pressure (taking pre-orders or something) to put pressure on yourself to move.

Life is short dude.
 
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AmazingLarry

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Your shop and house upgrades look awesome man!

It's funny, I'm actually in a somewhat similar situation and can relate to a lot of what you're saying. I only started last year so I'm not as far along as you, but I run a camper van conversion business out of a shop I rent. Like your business, it's something that is very labor intensive and not easy to scale. The work requires a specific skill set with very high attention to detail, which is hard to find.

Detaching yourself from the time portion of a business like this is tough too like you said. I'm having similar doubts about whether or not to continue down the same path or switch to something that's easier to grow and scale with a larger market. Are these thoughts logical and based in reality, or just a response to things getting harder and looking for the next shiny object? How do you step outside of your own head to differentiate between the two? Am I wasting my potential if I continue down this road? It sounds like you're struggling with these same questions.

Like you, I enjoy the work itself, but this mindset is sucking the joy out of my days recently and causing a lot of stress. Sometimes it helps to take a step back and widen your perspective. You've already accomplished things that most people never will and will never even attempt. You have time to figure this out and to make mistakes without your life and future falling apart. I'm sure you've learned tons of valuable things that will set you up for success going forward regardless of the path. Even when you're struggling and feeling despair, trying to look at it from a perspective of gratitude can help make the decisions you need to make about the future a little less monumental.

Sorry I can't offer any solid advice, but know that you're not alone in the struggle. Hopefully others with a longer history in business can help with the specific decision about selling your business or not.


By the way, I'm also redoing a house I bought recently. It's from 1820 and needs a ton of work, but it'll be awesome when it's done. Do you have any tips for tackling big house projects while also running your business?
 

TLivingEngineer

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Your shop and house upgrades look awesome man!

It's funny, I'm actually in a somewhat similar situation and can relate to a lot of what you're saying. I only started last year so I'm not as far along as you, but I run a camper van conversion business out of a shop I rent. Like your business, it's something that is very labor intensive and not easy to scale. The work requires a specific skill set with very high attention to detail, which is hard to find.

Detaching yourself from the time portion of a business like this is tough too like you said. I'm having similar doubts about whether or not to continue down the same path or switch to something that's easier to grow and scale with a larger market. Are these thoughts logical and based in reality, or just a response to things getting harder and looking for the next shiny object? How do you step outside of your own head to differentiate between the two? Am I wasting my potential if I continue down this road? It sounds like you're struggling with these same questions.

Like you, I enjoy the work itself, but this mindset is sucking the joy out of my days recently and causing a lot of stress. Sometimes it helps to take a step back and widen your perspective. You've already accomplished things that most people never will and will never even attempt. You have time to figure this out and to make mistakes without your life and future falling apart. I'm sure you've learned tons of valuable things that will set you up for success going forward regardless of the path. Even when you're struggling and feeling despair, trying to look at it from a perspective of gratitude can help make the decisions you need to make about the future a little less monumental.

Sorry I can't offer any solid advice, but know that you're not alone in the struggle. Hopefully others with a longer history in business can help with the specific decision about selling your business or not.


By the way, I'm also redoing a house I bought recently. It's from 1820 and needs a ton of work, but it'll be awesome when it's done. Do you have any tips for tackling big house projects while also running your business?
Are you a MTBer aswell?
You'll never guess what also... photo loading... I converted this boxer into a bit of a enduro mx/ mob van haha, so sick.

But good to hear from you, as you said so much attention to detail and yep that's the biggest thing that's running through my head, is it logic or the thought of the grass is greener, and logic is coming out on top every time :/

Funnily enough that's about when this house was built (converted into flats now)
Tips would be buy as many power tools as possible, efficient job is a fun job.
Like life, one job at a time. Can get very overwhelming real quick.
 

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TLivingEngineer

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Just had this email from my landlord, we had a 6 year lease on this workshop and that's coming to and end in September.

Screenshot 2023-02-18 at 16.29.10.png


I take it as all positives from here really, although its a shame, as we've got a good spot here - it almost feels like fait.
 
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AmazingLarry

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Are you a MTBer aswell?
You'll never guess what also... photo loading... I converted this boxer into a bit of a enduro mx/ mob van haha, so sick.

But good to hear from you, as you said so much attention to detail and yep that's the biggest thing that's running through my head, is it logic or the thought of the grass is greener, and logic is coming out on top every time :/

Funnily enough that's about when this house was built (converted into flats now)
Tips would be buy as many power tools as possible, efficient job is a fun job.
Like life, one job at a time. Can get very overwhelming real quick.
Yeah, I am! I raced some DH in college and still ride now.
That conversion looks sweet too!

Thanks for the advice. It definitely gets overwhelming when you think about the total amount of work that needs to be done. It'll be rewarding personally and hopefully financially, so that helps.
 

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Just had this email from my landlord, we had a 6 year lease on this workshop and that's coming to and end in September.

View attachment 47236


I take it as all positives from here really, although its a shame, as we've got a good spot here - it almost feels like fait.
Well that sucks. Maybe it's a push you need in a specific direction though. Have you decided on anything at this point?
 

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(Again this isn't a gloat just to paint a picture - most of you guys have the luxury of being able to afford to pay people, who's really the sucker haha - ME)

I think you over/under estimate a lot of people here. Not everyone has made it yet. And even those that have, some still prefer to do things themselves.

I just read this thread. Must have missed it earlier. Perhaps I'm the only one here but I think you're missing the opportunity that's right in front of you. I see you chasing other things instead of focusing on building the business you have. Right now you have a job, more than you have a business, but the potential is there.

To some extent, I understand where you're at. Like you and @AmazingLarry I'm a bit of a jack of all trades and enjoy the process of learning my doing. Unfortunately once I've 'done' it a few times, the interest begins to fade and I want to go learn something new. I've worked in professional motorsports, designed/built my own cars, designed/built/renovated houses, designed/built TV stations, worked in aerospace, data analytics, etc. I get it. The pursuit for new knowledge can be a strong force.

BUT

Instead of dropping the shop to start in Ecommerce, you need to build the shop so that it runs without you. Then you can build a related ecommerce store with branded products as an expansion of the business. You may not feel driven by money, but you are driven by freedom to pursue what you want, when you want. Money is the way to get there.

From my motorsports past I know a number of people that have done this successfully. Several use their speed shop and branded products to pay for the professional racing programs for themselves and others. Another friend wanted to step away from racing, and wanted to start an old Porsche collection. So he used his speed shop business to spin up a restoration division. That gave him leads on parts, cars, and people. Now he has a collection that his business buys, restores, holds for a period, and flips. He built a free and changing collection of classic cars.

I'd encourage you to leverage the assets you have and build something to support the new ventures you want instead of abandoning it to pursue them.
 
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TLivingEngineer

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Thank you for the reply, it's good to hear from people obviously with similar mindsets.
On the over/under estimating people I'd say yeah maybe it came across like that, not to sure, but didn't mean it as so.

Yeah I whole heartedly agree it feels like I'm done learning... move onto the next thing... exactly what you pointed out there, but I've also got my realistic cap on... this isn't the end of the road, its just a change in road.


While I take these points on board, and obviously I know it's 'possible' to scale a business like mine, I've tried various ways to entice employees that have the relevant skills (over 20 applicants, and 2 trials employees) all not suitable.
 

TLivingEngineer

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I will add to the above, I have a private investor interested in taking over the brand, customers etc and I've concluded I will be selling up the business, we are just going through negotiations as we speak.

There are obviously a couple of ways you can look at this from an outsider POV. The fundamental point I keep coming back to.. this business requires a huge amount of skill and creativity input to work, which for what I could see in terms of revenue streams, it isn't worth continuing for nor could I even employ to get me through the workload.

A little bit of the grass is greener vibes there, I've learnt a lot since starting this business and have absolutely confidence I will move on stronger from here, there's literally no doubt.
 

TLivingEngineer

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I'd encourage you to leverage the assets you have and build something to support the new ventures you want instead of abandoning it to pursue them.

This certainly makes 100% sense, I appreciate and understand the message - it makes all the sense in the world to an outsider and a golden gun.

But i'm not driven anymore by the business, don't get me wrong this decision has been a complete mind F*ck for the last year.
 
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TLivingEngineer

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So in the last couple of weeks I'm slowly starting to feel this creative, driven and free thinking mindset coming back.

I'm battling through process of overwhelming workload , nothings changed there (keeping jobs going, staff busy, while selling off assets and stock) BUT the feeling of 'freedom' is motivating as F*ck! its absolute madness, that I had built a small business that was my dream, and now i'm here saying it feels good to get away from it.

I'm now seeing this whole process much more clearly, I know for sure this opportunity I've built up over the last 6 years is huge and has huge potential, but one that wasn't started with the intentions and knowledge I've got now. Let's not forget that huge amount of information I can take forward onto the next one. and the fact most peoples first business fail in the first what ever stat you want to throw in there... and I'm here choosing to sell (potentially has sold)

I take the points above all onboard, and I agree with a different perspective it feels like I'm "wasting" this opportunity maybe and the potential of the opportunity but my position is only moving forward from it, all is not lost.

Im halfway through 'un-scripted' at the moment, and I'll go off on a tangent and say it's really great to find a writer that doesn't give a F*ck, like really - This is my attitude, I really hate the conformity of what you're brought up to assume 'life' is, the expectations, the BS, industries Pharma, Food, Gov, even the business world, yeah all BS.

Clarity is now that you don't have to enjoy or even fit in to that BS to use it to your advantage.

Anyway ramblings I agree, but I will keep updating.

I'm confident I can move from here perfectly. I doubted myself when things got confusing. Don't do that Matt.
 

Bidyut

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Mar 27, 2022
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Really really excited to you n your Hard work... which gives you a lot ...you gave me a Idea how to grow buisness from small to great value...thanx
Firstly I apologise if the title comes across as sounding cocky, it certainly is not intended like that. This Forum has a high % of very successful people so realistically most peoples reaction would be "so what" and if so, I welcome that.

This will be a bit of a read, but I'll try and summarise events while still hopefully portraying enough information to you guys that you may be able to offer an opinion and some insight. As realistically in addition to being able to clear my head and write it all down, getting help from a forum like this is definitely a part of what I need.

Intro
My name is Matt, 28 years old, UK based and as the title suggests I've built a Motorsport and performance garage "business" about 6 years ago now. My family has a history of engineering knowledge, so my experience stems from that. I only started getting into cars at 18 years old, within 4 years of tinkering I got fired from my 9-5 office job, because I was spending to much time down at the workshop (sick days/excuses) etc so I decided this was the time to start my own "business". I wanted to be in control.

I quote "business" because it was a passion project. I had bought myself a job I just didn't know it yet.

View attachment 47170

Here's how the workshop started

Yep again full of toys - passion project remember haha - yes that is a climbing wall.

View attachment 47172

This point I started building the workshop into more of a business, needed a Clean room to build engines in, and a Fabrication room to make a mess in - started focusing on the customer more (maybe without me knowing it)

View attachment 47173

Where it currently stands today.

View attachment 47174

Office

View attachment 47177

All you see above I've learnt and built myself because I couldn't afford to pay someone else to do it. From 3 phase to single phase electrics, plumbing, framing, ramps, air compressors etc etc (Again this isn't a gloat just to paint a picture - most of you guys have the luxury of being able to afford to pay people, who's really the sucker haha - ME)

Within the last year (2022-23) I've also finished renovating my first property while keeping the business afloat.

Kitchen before

View attachment 47178

Kitchen after

View attachment 47179



Bedroom viewing into Bathroom before

View attachment 47180

Bathroom after

View attachment 47181

Bedroom after.

View attachment 47182

The plans for this not 100% - would make a very good rental, it was hard work but I enjoyed doing it, learnt a lot of new skills, again I couldn't afford anyone to do it, so I did it all. From plastering, tiling, planing the wood, kitchen, underfloor heating etc etc

For anyone interested in the figures we bought the property at £155k and had it revalued the other day at £275k with £40k put into it.

I digress - back to the business, I included the additional house bits as I wanted to paint the picture of;

- I'm not afraid of risk, I thrive off it
- I'm not afraid of hard work, if anything I purposely make things more complicated and harder than it needs to be - things have to be done right.
- I and everyone can turn their hand at anything, you just got to want it bad enough.

The biggy - while did I feel the need to come on this forum -

Business overview.


The business on paper turns over from 2021-22 £220k, with a net of £40k
Had 1 employee from 22-23, then 2 more 23-current (just left)

We are quite a niche where we specialise in a lot of things nearby companies don't do - engineering, engine building, gearboxes etc, chassis set ups.

(CENTS)
(C)ontrol, I'd say that's 50/50, control over pricing dictated by specialists around the UK and most my customers want the cheaper end.
(E)ntry barrier to entry high and competition low-ish. A lot more DIY'ers now taking to the scene doing the work cheaper etc.
(N)eed - We do solve customers needs by expanding our services to cover their needs under one roof, even while pushing my workload to the max
(S)caling almost impossible - as said above I hired 2 more employees in 23 and have interviewed many and none of them have the specific skill sets we are looking for so I let them go, and we are now back down to 2 of us.
(T)ime is a huge factor, I'm a core part of the business at the moment, do everything from being on the tools, to admin, to marketing, to building a new website (e-com) I've started taking weekends off to focus on working ON the business not IN it. which is a bonus as I wasn't able to do that before.

Where my head is at..
I'm honestly struggling, and I've been struggling for a long time, I feel like understand where I need to be, and where I want to be, and the thought of that excites me, but the energy required to get there says otherwise.

Passion, hmmm going...gone
Attention to detail, dwindling away
Motivation, dwindling


But this started off as a passion project, I have absolutely no doubt I can turn it into something bigger and it's already going that direction, systems have started to be put in place BUT since I've been learning myself over the last 2 years (Reading non stop, better diet, health, psychology, meditation, and entrepreneurship, finance)

I've realised/ learnt/become wiser to, that there is much bigger and better opportunities out there (is it a grass is greener situation ha ha) much higher leveraged, much better returns, much easier to scale, a bigger market, more customers.

Maybe I'm being a bit OTT, and while I absolutely love the journey I have been down in regards to acquiring skills to be self reliant in life and I don't believe money is EVERYTHING, but I do believe in becoming financially free, I can't shake the feeling of; if only I had put a bit more attention into something I can leverage more, E-commerce etc - I would be here being able to grow bull shit skills like plastering in my own free time, not because I HAD to because I couldn't afford it.

You've still not answered why you're writing on this forum Matt...

I recently had the business valued between £150-250k with an asking price of about £200k. Yeah it's not much but I feel like its a great opportunity to one, take some time to reset, go back to the drawing board, invest in myself more etc and then use the remaining capital to invest in a building a business with the skills i've learnt, plus learning from the mistakes I've made - I don't know what that thing is yet, but I know what the foundations it would be based on.

So with the limited stuff you know about the situation, what would you do? Sell the business and start again using all the knowledge I've gained recently, OR push through and grow my garage business with limited funds?
 

Spenny

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Firstly man, congratulations on the renovations. It looks like an absolute dream to live in. And very well done at having a £200k business. I don't have much to add but it's great to see what you've built!
 
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TLivingEngineer

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Firstly man, congratulations on the renovations. It looks like an absolute dream to live in. And very well done at having a £200k business. I don't have much to add but it's great to see what you've built!
Yeah it's really a very cool place.
That's all good, thanks for commenting bud
 

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