Another Pricing question

Parents or grandmother to sign for me. other then that im not exactly sure how my plan could stray off path. Other then just not taking off in which case i play up the kid side of it and get free advertising (newspaper ad about my age and achievements and tv interview both of which can be achieved easily because of my fathers connections).
 
If you want a loan, you better learn how to spell dollar...



You're also under 18, you might want to see what that means.
 
man... that was def nice! under the prerequisites for getting a load i doubt it says must be able to spell loan.



and why dont u tell me what it means? u seem smart... it means i have a maximum amt of hours i can work... that is voided if im working for my parents... hence the law side of it will say jeff wendell all over it.
 
Daniel- What he is saying is this; What if the bank were to ask you for a business plan. Business plans are usually required by banks for a commercial loan. If your business plan is full of mis-spellings and poor grammar, I guarantee you will not get the loan. In fact they will probably laugh at you.
 
No doubt! Do you think for a SECOND i wouldn't put it through a spell check? I know that i am sometimes careless in my spelling (not denying that). But when it comes down to it, if me writing on the forum was the formal application for a loan i would be proof reading this a couple times before even printing it once to be looked over by my father.



And im working on the business plan as we speak.
 
240K is a lot of debt for anyone under 25.... What ever happened to starting out small and working up? Debt is evil... Plain and simple. Why start a business already upside down? Another thing, think you can perform a proper interview? Talk with and find accountants and CPAs, get lawyers, incorperate, and all the other things that have to go with getting a "shop"



Your plans are set for failure if you do this too soon.
 
asleepz said:
240K is a lot of debt for anyone under 25.... What ever happened to starting out small and working up? Debt is evil... Plain and simple. Why start a business already upside down?
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Give the kid some slack, he's just using the financial model of the current administration...
 
As sad as i think this is, my business model (if i cant get everything rented out) is going to pay my bills for me. I wont have to detail cars to pay my bills the storage does it for me.



240k is a lot, yes... but 3 mill is also a lot and that is what my dad is working under... hes semi retired.



I am planning on this actually happening not just some idea that could happen but wont because i am an idiot. I am going to be a guy that can walk the walk instead of just talk the talk. This will happen. And if it doesnt happen in the property i will keep looking for propertys to buy. Again... it will happen.
 
240,000 is a LOT of debt. I wont even look at used trucks becuase I dont want to be 20K in debt. When I was in HS, I did a lot of math and was under the impression that I would be able to buy a brand new car or truck with a minimum wage job. Boy, was I wrong. No one goes into a business expecting to fail. There are many who put their heart and soul into it, and still fail. It is market dynamics.



Start out small and expand as you become profitable and establish a client base. Spending that much initially is going to create a lot of red ink for a very long time, which would negatively affect your life in every aspect, socially, financially, physically, and mentally.
 
azenthusiast, you have a point but like i said detailing would not be the money that would pay off my bills, it would be storage. Detailing is just extra money. And i cant get a client base for storing cars without having a place to do it. I know that if i can detail a couple cars per month+the storage business i will be in the green pretty quick. The model that i showed earlier (the one where i calculated the money) was entirely storing cars. I can see it would be hard to get people initially for the storing business. I will be advertising in the local Porsche Club magazine, the corvette club, along with the newspaper and possible on TV (yes i know the costs for all of these).
 
Just out of curiosity, how have you gauged your local demand for car storage? It's not only reaching the customers, but having enough customers who are even interested in that service, that will be key to the success of your business plan.
 
What I meant earlier is that contracts are non-enforceable for anyone under 18. That means you are a minor. I don't think the bank will be impressed that you have a Porsche.



That's pretty good that you can see the future. No need to make a plan. Don't confuse determination with arrogance.

As for the spelling, it's not becasue of a typo. It's called attention to detail. Unfortunately when you ask people besides your family for money, they want details, and lots of them. If your business is going to be built on details, this is pretty important. It's deeper than just a spell check. Banks like to loan money to people with money. They are not charitable organizations.



I hope you succeed and make millions, don't get me wrong. Just stating that you will make it happen and throwing out how much you think you are entitled just exposes your immaturity. I can only offer this - learn from your mistakes. I bet 90% of the people on this board were like you - sans trust fund. I know I was. I knew what was going to happen for me, had it all planned out, and I was wrong many times. I'm not making a prediction for you, but pay attention and you will learn. Hopefully for your sake, I'm the one who is wrong here.
 
Personally, if I had the money to afford high-end cars at all, I'm probably going to have the money to have a big enough garage. I'm just not sure how that would do.
 
azenthusiast said:
Personally, if I had the money to afford high-end cars at all, I'm probably going to have the money to have a big enough garage. I'm just not sure how that would do.
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DING DING!!!! You'd be better off targeting just regular ole' storage units for anything.



I think you're under the impression the only way you can make it big is to start big. Every large company started as a small company unless the owner ALREADY owned other big companies (which were probably small companies at one time) to pay for everything.



If you had 240K cash (and with no lien on anything) and you were to invest your money that way, I would personally have a whole different perspective. Small companies become large companies by MAKING more money not by borrowing. Go to college for Business Admin for Entrepreneurship. You'd be happy, I know I am. (Nicholls State University in Thibodaux, LA)
 
Setec Astronomy said:
Just out of curiosity, how have you gauged your local demand for car storage? It's not only reaching the customers, but having enough customers who are even interested in that service, that will be key to the success of your business plan.
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Very right! There is a bunch of storage spaces on Roanoke. One (who is my competition in both detailing and car storage) is right down the street and is 100% full all the time... and im closer to south roanoke (the most millionaires per capita in roanoke). He also has a non face metal building with pretty low security and no fence and no agriculture. I am going to have a fence with pine trees all around my lot and a brick (probably) faced metal building. Also i will have agriculture. I have a feeling that its going to take off well. Plus, im in a place that is easily described to people but no1 knows its there without someone telling them.
 
boogiejoe said:
What I meant earlier is that contracts are non-enforceable for anyone under 18. That means you are a minor. I don't think the bank will be impressed that you have a Porsche.



That's pretty good that you can see the future. No need to make a plan. Don't confuse determination with arrogance.

As for the spelling, it's not becasue of a typo. It's called attention to detail. Unfortunately when you ask people besides your family for money, they want details, and lots of them. If your business is going to be built on details, this is pretty important. It's deeper than just a spell check. Banks like to loan money to people with money. They are not charitable organizations.



I hope you succeed and make millions, don't get me wrong. Just stating that you will make it happen and throwing out how much you think you are entitled just exposes your immaturity. I can only offer this - learn from your mistakes. I bet 90% of the people on this board were like you - sans trust fund. I know I was. I knew what was going to happen for me, had it all planned out, and I was wrong many times. I'm not making a prediction for you, but pay attention and you will learn. Hopefully for your sake, I'm the one who is wrong here.
Click to expand...



I seriously doubt that the bank wont be impressed because they already are. The 944 turbo that is the bank presidents was sold to him by my father. I detail his cars and knows that i do pay attention to detail. He has told me that my business will succeed because i do please the client (sometimes overly). Just about all the banks (bank presidents) around here know my family well. One bank was started by my grandfather and i and my family (yes, including me) have the majority of shares in it. I guarentee you i will succeed not because i am arragent but because i have the drive to do WHATEVER it takes to do this. When i see something i want i go for it completely and whole heartedly. Right now i want to prove myself right so i just made a call to the zoning commission of Roanoke and have to get it zoned from "mixed use" to "small commercial". Also, i spoke to the water authority about getting water and sewers and they are sending out a guy out to see where the manhole is. So, so far so good.
 
azenthusiast said:
Personally, if I had the money to afford high-end cars at all, I'm probably going to have the money to have a big enough garage. I'm just not sure how that would do.
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You are not correct. There is a part of roanoke that is extremely high end (south Roanoke) but the houses are built so close together that people cant build garages. Yes there are a few people that bought 2 lots and built a house and a garage but for the most part there arent many garages. For instance a friend of mine has a porsche 911 Turbo. He has a house in South Roanoke and at Smith Mountain Lake (about 45 mins away). He stores his car down the street from me and is probably going to be switching to me (when this thing gets worked out).
 
asleepz said:
DING DING!!!! You'd be better off targeting just regular ole' storage units for anything.



I think you're under the impression the only way you can make it big is to start big. Every large company started as a small company unless the owner ALREADY owned other big companies (which were probably small companies at one time) to pay for everything.
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I will accept regular old anything people however i would like to have cars because they might also get me to detail them. Im trying to gain 2 clients with 1 person if that makes sense.
 
baseballlover1 said:
I seriously doubt that the bank wont be impressed because they already are. The 944 turbo that is the bank presidents was sold to him by my father. I detail his cars and knows that i do pay attention to detail. He has told me that my business will succeed because i do please the client (sometimes overly). Just about all the banks (bank presidents) around here know my family well. One bank was started by my grandfather and i and my family (yes, including me) have the majority of shares in it. I guarentee you i will succeed not because i am arragent but because i have the drive to do WHATEVER it takes to do this. When i see something i want i go for it completely and whole heartedly. Right now i want to prove myself right so i just made a call to the zoning commission of Roanoke and have to get it zoned from "mixed use" to "small commercial". Also, i spoke to the water authority about getting water and sewers and they are sending out a guy out to see where the manhole is. So, so far so good.
Click to expand...





Well, i guess this means you've inherited your business. You'll never fail riding those coat tails. That also explains your cockiness. Don't ever cheez your family off.
 
O ok, is that how i work. Because you know me inside and out since before (at earliest) you heard my name on or before september 2007.



So just out of curiosity do you own a successful detailing business or any successful business at all. Not meant to be a smart a$$ response, just wondering.
 
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