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Gauging interest


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I have been toying around with the idea of buying a warehouse and setting up shop. The warehouse would be big enough to store vehicles in for a monthly fee. Also the best part would be, I would put in about 3 different lifts that would be available for rent. I will buy complete rolling tool chests filled with tools that will be available for rent. Prices would be pretty reasonable. I would also have a tow trailer available. I figure someone could store a project car in the warehouse and wheel it over to the lift when working. Or simply just store their vehicle when they wanted to. It would all be in the same warehouse. I know this has been done in other areas so its nothing new. I would put in a lounge and it could hopefully be a good place to hang out. Eventually I would probably hire a full time mechanic to give pointers and advice. And of course cr members when get a significant discount. So good or bad idea. I already have a hook up at a warehouse.
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That idea has potential. Obviously, folks will want to know the bottom line - how much it will cost for storage, for use of tools, and so forth. Also, have you thought about insurance and so forth? I'd imagine you'd need to have some coverage in the case a fire broke out, or, you know, a box of tools falls over and caves in someone's hood, and so forth. Additionally, where would this be located? I guess that would be of lesser importance to me than some other things (e.g., price of storage, etc.), but still something to consider.
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I have thought about the insurance thing and it wouldn't be the easiest policy to write. I currently have some calls into a couple underwriters and I am waiting to hear back some #'s. Right now I am considering a place close to slowmotion. Off cassady and 14th, close to airport and about 10mins from Reynoldsburg. I have a potential investor. The main income would be from storage I would assume. I would just need to get enough people together that will definately say yes they would use a place like this. Its hard to gauge the market, and I definatly dont want to get a space that is to small. I thought about renting for the first year and them possibly building a larger space if needed.
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Sounds like a damn good idea. Insurance will be a bit of a pain, making everyone sign a waiver stating they have insurance, and will not hold you responsible would be a good posibility.

I know there have been a few times that I could use a lift, and I know there wil be more times coming up that I will need one.

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Tools will disappear.

 

People will lightly bump other vehicles.

 

Trust me. Storing shit sucks.

 

 

"Can't" never did anything. If you believe in the idea, go for it. Cross all your "T's" and dot your "I's." Make sure you can handle the responsibility.

 

Consult an attorney. If you do not have one, pm me and I can put you in touch with a firm.

 

Good Luck!

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it sounds like a pretty bad ass idea, i agree with assured risk about some things, tools will disappear and people will bump other people. and the fact that theres cars with alot of money invested in them sitting around and some people know it they would get in and just go crazy. im truthfully saying that some people are shady and there would be a huge trust issue. allthough if u could rent out a place with individual storage spots or "Garages" that lock in some way would be a good idea. but if you get a lift im sure ill be paying to use that.
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Chainlink enclosures are a posiibility for those whos cars are to valuable to leave out. But it will be staffed and people wont be able to just go around and mess with others cars. The toolboxes would be setup so that everything would be in its own slot and easily checked back in. Stored vehicles wouldn't be right next to the cars in for repair. Possibly even sectioned off. EPA regulations are what I am considering right now.
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Good idea, but the insurance and tools disappearing will cause many problems. How many keys will be made? How would you keep track who is there and when, plus since you will be taking money for this, it would be a commercial operation, not a personal one. Once you go commercial you are in the big leagues with zoning/EPA, etc. If you did this two years ago, I had ten 2 post auto lifts for sale.
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Guest Evl Mdgt

I think its a great idea. I know quite a few people who would use it. Us being 2 of them... like said before, if you want it done... than do it.

 

If you decide to do this and need someone to run the office (answer phones, paperwork, etc) give me a call... I have a LOT of experience in that sort of thing. Plus I'm good with PR type stuff...

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I looked at a shop by the airport but the guy wanted $4.50 a square foot per month and at 17,000 square feet. I dont think it would be very profitable. So I will put in a call tomorrow to my agent and see if he can possibly find me something that at one time may have been used as a repair shop. It will probably be hard to find something with the extra storage space. Any ideas of how much space would be a good idea? I did find one place in rochester that did this same setup. Their site is still up but when I called to ask some questions, the number was out of order. Anybody store a vehicle? What are some of the prices? That place rented their lifts for I believe $25 an hour. Does that seem fair?
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I can say that storing vehicles is not going to come close to covering the rent on the building. For example the cheapest 5000 sqft shop is going to run around $2k per month just for rent. That would accomodate maybe 8 vehicles inside and 2 lifts if your lucky. The most people would store a car for is maybe $35 a month. Then you have overhead such as heat, electric etc that will add another couple hundred per month. It would only get worse moving into something larger.

 

Jason

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Yeah but hopefully the main income would be from the buisness side of operating the rent it garage. Thats what I am having a hard time deciding is if the market is there. You never know it could also be a distributor for parts, rims, audio. I will pursue it more after the holidays. I think it would be a good place to make the new hang out. Maybe an industrial area where nobody will care about burnouts and stuff on a friday night.
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we had a 2400 sq ft garage and fit 12 cars in it. which is about right. Because cars the size of say my monte carlo take up about 100 sq ft. (avg) I like the idea ... though I haven't read the whole post. What kind of setup would you be looking for from investors? I could be interested :-)
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Guest 614Streets
I had an Idea to do this a long time ago , open a shop called hots and have everything needed for a person to restore a car , lifts , a paint booth , tools etc, but liability is such a huge issue.
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Yeah but hopefully the main income would be from the buisness side of operating the rent it garage. Thats what I am having a hard time deciding is if the market is there. You never know it could also be a distributor for parts, rims, audio. I will pursue it more after the holidays. I think it would be a good place to make the new hang out. Maybe an industrial area where nobody will care about burnouts and stuff on a friday night.

 

 

Check your PM

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Just stop now while ur ahead and haven't spent too much time on it.

 

tools walking away would be a big problems.

 

liability and insurance I won't even go there.

 

plus a lot of times it SUCKS to have to chase people down for money and shit. most people that have money for a nice car and can afford modifications can afford a garage. just from some of the stories of chasing people down for this money on this site sends chills down my spine.

 

get a shop and a lift for you OWN shit. don't quit your 9-5 job.

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