Beem, if you have any trouble pulling demographics for your market shoot me a PM... my data is media-specific (which shouldn`t matter, and often we find is more accurate) and what I have in-hand for your market is a few years old, but it would only take a few calls to get current data for you.
My .02, FWIW... I`m with Steve on this one. Few years back my partners and I looked at several detailing business options... TV and radio business models are not what they once were
. In a nutshell, our findings were:
1. It would be insane for me to try and do the work on my own, regardless of how hard I tried or how good my work was/is. Three surgeries on from that decision (along with resulting time off work) proved the point. My income and client base would`ve died on the vine (sorry, Sonoma-specific humor... lol). Agewise I`m right behind you, if that helps.....
2. We looked at many options to partner with existing businesses. Probably our most realistic option was to invest in a new tunnel-wash project that offered us three HUGE detailing bays plus retail space. It was hard to get over the "tunnel-wash phobia", but we looked at the bright side... every finish the tunnel ruined was another prospect for us!! In the end we couldn`t make the deal pencil-out.
3. Through development investors we had the chance to get in on the ground floor of a super auto mall planned for our area... negotiated a deal to co-op both the land needed to build central detailing bays PLUS retail on all the dealerships floorspace. Fleet work was also on the table, but there`s no money there. In the end local politics and the economy killed our plans before the project ever broke ground. They`ve since built-out one dealership and work has started on a second, but the project is nothing like once planned.
Obviously options 2 & 3 required me to be in a management role, with little or no hands-on detailing. I did financials for all three options, and the results were painfully clear... option 1 would`ve been my preference, but options 2 or 3 offered the only way to financially survive at any level comparable to what myself and my family require (and to say "comparable" would definitely be a stretch).
Another issue to consider is health insurance. You may have options there (I did), but to be in a position where you need to make it happen on your own as a small business is prohibitive these days.
Bottom line... don`t let age be the determining factor. In business age is only a state of mind. To do what you enjoy and be able to earn a living at it is the holy grail of business.
Only you know what it takes to make that happen for you and your family. Best of luck with whatever you choose to do!!
Bookmarks