how do u guys feel about where you are and where your headed?

quamen · 02-24-05, 09:20

I was really putting alot of thought into the whole detailing for money issue. I love doing it and it has brought me more money than any job could have while im attending college still. But you guys who are out there doing it full time, that own a home and have a alot of bills etc, how is it possible to cut it? It seems like these days to have a good life you need to make 6 figures or more, if u plan on having kids, a nice house, reliable cars etc. I sat back and even on the best weeks where 1k or so was great, even if you had great weeks and made 1000 each week as an average that is less than 50,000 a year, but i guess you dont get hit hard with taxes.

I really want to do detailing as my life long job, but what my plans would be is to have a car wash attached to a detailing bay where details could be done as well. On the weekends like once a month be able to have a training seminar with my own product line to certify people to start their own business. This kind of setup if you really work at it and play it right, the sky will be the limit. Your not taking 100 grand anymore, your talking a few hundred grand and I know of companies that just do this. While there isnt a load of these companies out there, I really believe that detailing unless you had units all around the state, or what not can not bring a great living. I hate to sound negative, and im NOT PUTTING ANYONE DOWN CAUSE IM IN THE SAME POSITION, BUT IM LOOKING FOR ADVICE. Im taking criminal justice in college and im almost to the point of finishing my BA degree which im happy with, but my dream changed into really having my own product line with a training facility with a car wash.

I just wanted to think of your thoughts on this? One reason i was like I cant beleive how fast money goes, is that i visited my brother. My one brother makes over 100 grand a year, and i couldnt beleive how fast it goes out. With 2 kids, a house payment, car payments, insurance, food, etc etc, you get the idea. I guess if you lived alone or you had your significant other working this could be a totally different story, but sometimes i say this sucks how can u make real money detailing to support a household or live on your own?

I mean I guess everyone has different lifestyles they want to live, but im not greedy either. I would like to have a nice truck, a decent size house nothing crazy just comfy and not have to be worried about when the next money rolls in, or can i buy that. It discourages me sometimes cause i really want detailing to be the core of my income.

Setec Astronomy · 02-24-05, 09:29

Not to burst your bubble, but I think "a few hundred grand" is a little optimistic to take home from a "car wash attached to a detailing bay where details could be done as well. On the weekends like once a month be able to have a training seminar with my own product line to certify people to start their own business".

Just my two cents, but I don't think that any of the fixed pros here bring home those kind of dollars.

a.k.a. Patrick · 02-24-05, 09:54

Quamen, your very ambitious! You have to keep your goals realistic though. I agree, the sky is the limit, ask Bill Gates, Debbie Fields, Steve Job.
Most important is developing short term goals. If, on average, your making $1,000 a week, and you dont live in California, your probably doing ok! Seriously, if after 3 months, you have made 1k a week, 2 additional cars a week can advance your quarterly figures 20%. Consider adding additional help for remedial work like engines or wheels, windows, trim work, something that can expedite your main task surface prep or inetrior, and enable you to take on several cars a day. Of course clientel base is key here also.
Also consider adding your services to an existing facility, like the quick lube/oil change shops, and offer a percentage of profits etc.....

quamen · 02-25-05, 05:05

Welll I dont know if you know this, Detail King Nick Vacco whom I talk to one of his buddies alot he makes about 700 grand from his training in Pittsburg PA. Think about it. Each month for 11 months only he has 25 students, and charges 300 a head. From just doing that, he makes almost 100 grand a year. Then he sells his own products and of coarse alot of people who attend buy them on the spot or when they return home. That is what im going to try to do with my business, i seriously dont know why many other people dont try to do that. It is a very VERy easy concept, just not many picked up on it. Especially since many of the products that people use are not patented and there so good, u can easily find a chemist and get the fomula and then market them.
That is if you want to make a real living in the detailing world, you can not do it forever since is is alot of labor and your not working for a company who is matching money you put in and all that other stuff.

Just my opinion and how I see it, but i know i dont want to be one of those making less than what i feel is comfortable especially since everything is so damn expenisve, i have to be well near the 100k mark in this time of age. I look at my real father is is very wealthy, he first opened a chain of gas stations, then he purchas all kind of houses and sells them for a markup somehow, i never met him but i read about his sucess.

kompressornsc · 02-25-05, 05:22

quamen,

Just as an FYI, the median household (that's household, not individual) income in your town is just under $33,000. A lot of people live very well on that.

It's not about how much money you make, but what you do with it, how you invest it, etc. Very few people get rich from their 'job'.

All that being said, if you see a need for a product/service, explore it, research it, and go for it! As I am sure most pros will tell you, the actual detailing is the easy part of their job-the hard part is running the business. Learn good business skills and that will help you 100X what learning good detailing will. I'll bet there are a lot of really good detailers with poor business skills making a lot less money than average detailers with exceptional business skills.

tdekany · 02-25-05, 05:28

"""Your real father is very wealthy?"""

I'd try milking that every year to add to the total amount you need to have a comfortable living.

Setec Astronomy · 02-25-05, 05:30

Quote:

Originally posted by quamen
Each month for 11 months only he has 25 students, and charges 300 a head. From just doing that, he makes almost 100 grand a year.

Pardon me, but he doesn't "make" almost $100K a year, he "grosses" that. It's really $82,500 (25x300x11). Then he has to subtract, um, the rent he pays for where he does the training, the electricity, the supplies, the salary for his help, the advertising for it, etc.

That's like saying when you detail a car for $150, you "make" $150. I'm sure you have a payment on the vehicle you use to get there, insurance, gas, water, polish, wax, etc. Not to mention the portion you give to your partner, what you spend to maintain your website (if you have one), and on and on. Do you have liability insurance? Detail King does if he has 25 strangers in his place every month. What about workman's comp? Don't tell me Detail King doesn't employ anyone. Oh, he does? What about OSHA compliance? And of course the taxes that have to be paid...sales tax, corporate tax, income tax...are you paying those now in your mobile operation? Oh yeah, then to figure out how much tax you owe, you will need an accountant, and how about a lawyer for when one of those 275 students sues you for hurting himself or deciding that he didn't get rich fast enough after your training?

I realize your major is criminal justice, but you need to talk to some of the business majors and understand the difference between gross and net. And Detail King sounds like he has a decent business, but did you know that over 50% of small businesses started don't make it past 5 years?

Sorry to be harsh, but that's the way it is, there's no free lunch.

tdekany · 02-25-05, 05:45

Quote:

did you know that over 50% of small businesses started don't make it past 5 years?

My accountant told me it was over 70% that don't make past 5 years.

RedondoV6 · 02-25-05, 06:26

Quote:

Originally posted by tdekany
My accountant told me it was over 70% that don't make past 5 years.

The total start up failure rate shifts over time, in line with the the wider economy, but a start up failure rate of 70% to 80% in the first year sounds about right.

Many start up's will simply close, as their owners discover that their business concept will not work or more frequently, their planning was inadequate. For many, the net income they expected is not being realized and they never considered the additional work hours most small business owners put in every week.

There is an old saying regarding business failures, "most new business owners do not plan to fail, they just fail to plan", it is still very true today. A good business plan, including a mission statement, marketing plan, conservative sales forecasts, generous spending projections, contingency funding and a well developed cash flow forecast can make all the difference to success or failure.

It is sad that even though the basic business concept behind many startups is sound, startups are often under capitalized and fail as the capital and overdraft is exhausted and their income from slow sales is insufficient to pay ever mounting bills. This is a story repeated every day, may times over.

Proceed at your own risk! Just take a little time to really think about what you are doing, before you start spending money.

Mike (accountant and successful business owner for 12 years)

a.k.a. Patrick · 02-25-05, 07:23

Quote:

Originally posted by RedondoV6
The total start up failure rate shifts over time, in line with the the wider economy, but a start up failure rate of 70% to 80% in the first year sounds about right.

Many start up's will simply close, as their owners discover that their business concept will not work or more frequently, their planning was inadequate. For many, the net income they expected is not being realized and they never considered the additional work hours most small business owners put in every week.

There is an old saying regarding business failures, "most new business owners do not plan to fail, they just fail to plan", it is still very true today. A good business plan, including a mission statement, marketing plan, conservative sales forecasts, generous spending projections, contingency funding and a well developed cash flow forecast can make all the difference to success or failure.

It is sad that even though the basic business concept behind many startups is sound, startups are often under capitalized and fail as the capital and overdraft is exhausted and their income from slow sales is insufficient to pay ever mounting bills. This is a story repeated every day, may times over.

Proceed at your own risk! Just take a little time to really think about what you are doing, before you start spending money.

Mike (accountant and successful business owner for 12 years)

tdekany · 02-25-05, 08:22

I am definately one of the 70-80%. Not totaly out of business yet, but close to it. Just slowly selling out my inventory.

TW85 HHI · 02-25-05, 08:25

Mike,

Your an accountant? Are you a CPA? Funny, my dad is a CPA and has his own practice, LOL.