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Old 03-16-2009, 09:11 AM
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leftywoody leftywoody is offline
Motorized Bicycle Elite Member
Join Date: Aug 2008
Location: Lagrange Indiana
Posts: 405
Default Re: can anyone make a living with this hobby?

I owned a collision shop for 15 years . We were lucky and never had a legal problem . Fact: Most shops fail within the first 5 years . Fact: Most business fail due to poor management . These management problems include , legal problems , tax problems , operating hours problems , collection problems , insurance problems, shipping and recieving problems , customer service problems , scheduling problems and more . If you are going to run an above board business , you will experience some or all of these problems . Any or all of these can stop the flow of income and you may have to close your doors . Which leads to the last problem . Getting out of the business can be as difficult as getting into it . You will have to pay taxes and close your books by April 15 of the next year after you close . Talk to any small business owner about making a move to self employment . It is one of the most life changing decisions you will make . And people attempt it every day . And some are successful .
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