Thinking of starting one and wondering if anyone has some input? I work at a small Tire shop now and have been thinking of making the jump? Any opinions are welcome! Thanks!
My son is a Manager of one, BAD: Many Many hours, You get all the grief, Your Chief cook and bottle washer...when the toilet breaks, you fix it.. When someone don't show, you work there shift too. Consider the startup costs (Building rent, Equipment, Staff, Inventory, Advertising) GOOD: You reap the rewards of the hard work involved. (Both monatary and personally) Satasifaction of being you own boss and having control or what is going on. If that is what you want to do, then follow your dream...it is worth it, Good Luck... Bill j.
There used to be a real small tire store that worked out of a local farmers market. It was a two man operation, the owner, Chuck and his dad. This was some time ago, maybe, 40 years. I remember those two guys working in the hot Florida sun, changing tires.Eventually, Chuck expanded the business, slowly at first, later, at a faster pace. Pretty soon, there was one of Chuck's stores almost everywhere. Finally, Tire Kingdom became one of the largest indepedant tire dealers in the US. Chuck sold out to Michelin Tires. I believe he then bought the business back a few years later. Today? I don't know who owns it. Chuck did very well for himself.
Gonna be tough to compete with the big chains unless you are in a small town where they have not come in yet.
I agree, the manager at Mr. Tire treats me better than the local guy i've gone to for 25 years, and i'm not talking about just price either.
Since birth for me. Thats 45 and counting. Although my deal is slightly different as I mainly deal in the underground mining segment of the tire industry. I do sell passenger tires from the same location but it isn't my bread and butter. Advice..............much like any other business, spend lots of time, lots of time, lots of time and be aware that the big boys just use passenger sales to generate other service work or repairs. They are willing to take a beating on tires. Also not sure about your area but finding people to employ is always the big problem. Then if you are lucky enough to find employees, in most cases you then focus a majority of your time on keeping the bad ones from stealing you blind...............
Take the advice from Denise......................Just look at what the price of I Hop stock has got to in the last few days.
tierod had some very good points and I agree with them all. I work for a locally owned tire shop. Its small, but we are known throughout the state. People from all around, including Canada, call us up for tires and assistance. It all started off way back before I was even born, in some lil lean to they called a tire shop, I remember waiting in the waiting room as a kid. It all takes determation and as tierod said, you put in long hours. 12 hour days for my boss and even more then that probably that I do not see. Customer service is what has gotten us through though, taking everything in... and I mean EVERYTHING. All the crap that no one wants, we take. Even the dealerships bring their crap to us. If your in Saugus SCV, then man alive you have a shot. I lived there and worked in a crap auto shop. If you build a reputable business, then youve got yourself a livin.
I am not an owner but did manage a tire store and looked into starting my own.The net profit on tires is stupid and you cannot survive on tires alone unless you turn big numbers.The big killer on tires is your return on investment.I live and work in a town of 10,000 and we have two tire stores.One barely keeps the doors open and the other stays alive with farm service not on tire sales.Every market is different and location is very important.The better the location the higher the rent or lease.It is a very tough business to succeed in and you should as much homework as possible.Many independent tire stores in the midwest are privately owned but backed by large tire suppliers.You might look into that angle also.Good luck.
From a different perspective: I've managed a tire store (truck tires) for a major tire co. and have been in the industry for 35 years and I would rather run a whorehouse by hand due to the corporate BS. Buying an existing business is one thing, but starting from ground zero is another story. How's your working capital, got enough to live off of for a year? How about startup costs, building, equipment, inventory, help, insurance, If you go it alone, what if you can't work, hurt or sick? What about a return on your investment? Commercial truck tire margins are LOW and ovehead is HIGH. What line(s) will you carry and what will you have to sell at to be competitive with the big box stores and discounters? Can you provide the personal service and pleasant buying experience that will bring customers in regardless of your price? Can you hire QUALITY help that won't steal from you or run off your customers? Lots to consider here. If I was young and had 25-30 years to develop the business, I MIGHT consider it, IF that was my life's goal. Like any other business it will be a life's work and take that level of dedication and sacrifice to succeed. Good luck!!
Excellent Opinions as always. I am in fact in santa clarita, Ca and I just signed my lease so the hell with it. Here we go!!!!!!!!!!!!! Who is Megan?
The Jalopy Journal
