Can Fix-It Shops Turn a Profit in 2014?

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SteveHGraham
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Can Fix-It Shops Turn a Profit in 2014?

Post by SteveHGraham »

I am wondering: is it possible to have a profitable machining/welding/etc. business making small parts for household stuff? These days a lot of things get no support from their manufacturers, and it can be impossible to get parts. And machine shops don't seem interested in this niche. I don't even know where I would go to get something machined around here.

I have a buddy who puts new screens in smartphones. I think he charges fifty bucks, which is a lot better than buying a new phone. And I've used my lathe and mill to make parts for little things, like parts for a clamp for a desklamp. There are a lot of household things that can be be fixed easily and economically in a home machine shop.

I don't know of any fix-it shops in my area. They used to be all over the place. With CNC, 3D printing, and so on, you would think they'd be really common.

I know there's a guy out there who is trying to popularize member shops, where you pay fees and get access to machinery, but that's not what I mean. I mean you go in with your unsourceable cracked lawnmower or Aermacchi bushing, and they measure it and quote you a price you can't turn down, and a couple of days later, you pick up the new part.
Every hard-fried egg began life sunny-side up.
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ctwo
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Re: Can Fix-It Shops Turn a Profit in 2014?

Post by ctwo »

untapped gold mine here, Steve...
Standards are so important that everyone must have their own...
To measure is to know - Lord Kelvin
Disclaimer: I'm just a guy with a few machines...
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warmstrong1955
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Re: Can Fix-It Shops Turn a Profit in 2014?

Post by warmstrong1955 »

It's a lot of what I do now. Odds & ends, one offs, and misc little jobs that 'real' shops don't want to do, so they want seventeen bazillion dollars for.

Those cats have to pay for bodies....new machinery & tools, besides the usual consumables & 'lectricity & such.

I own my house, my shop, and everything in both. I also own my vehicles.

Absolutely you can turn a profit.

Bill
Today's solutions are tomorrow's problems.
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Harold_V
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Re: Can Fix-It Shops Turn a Profit in 2014?

Post by Harold_V »

It's a matter of being willing to work for reasonable wages instead of making a full retirement on each repair.

We Americans have become accustomed to unearned pay----and have driven up prices such that doing repairs isn't profitable. Seldom will you find anyone who's willing to pay half of the value of an item to make a repair.

You, being an attorney, no doubt understand the liability involved in what you propose. I can see it now----a simple repair, accomplished for a pittance, with a future failure that can be related to the repair-----and a law suit.

Don't misunderstand. I think what you propose can work, and has worked. I ran a small shop for years, and while I did precious little of what you propose, it was not a stranger to me, as I bailed out several people who had no alternatives. In most cases, it was pro bono, though. That's how I think.

Harold
Wise people talk because they have something to say. Fools talk because they have to say something.
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Grantham
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Re: Can Fix-It Shops Turn a Profit in 2014?

Post by Grantham »

Basically it's a good idea. If your personality can tolerate deadlines and people trying to chisel your price down, go for it.This is the kind of stuff I get talked into doing for my family and neighbors. I insist they forget where they got it made/fixed/modified, so every Tom, Dick and Harry doesn't try to get me to fix their s$#&. I'm enjoying my retirement too much to get bogged down with other peoples projects.

Since a lot of folks think it's their duty to impose on others for free help, why not put up your shingle and get paid. There are a few things to be be aware: Some places have ordinances that frown on operating a business in a residential area. Deposits or full payment in advance avoids misunderstandings. And a phone that can be shut off, so you're not awakened at 3:00 in the morning with their 'emergency'.

Local Craig's list, business cards and word of mouth will likely keep you busier than you want after the word gets out.

Good luck.

Rod
DavidF
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Re: Can Fix-It Shops Turn a Profit in 2014?

Post by DavidF »

Taxes, health care, overhead....The three killers of small business. Chances are that 75% of everything you bill will go into these 3 things.
Bill accordingly.....thats all I have to say....
hammermill
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Re: Can Fix-It Shops Turn a Profit in 2014?

Post by hammermill »

Consider where did All the repair shops go. Simply they could not make a living,or get repair parts of the item ceased to be
Relevant. Tv sets,microwaves,power hand tools,desk top computers. All going or gone from home shop repair work.

You will be a unusual person to keep out of the tax man's attention in today's world.

The greatest generation saw careers of 40,50 years
Many of your work skills today will be dead in ten years.

Sorry to sound harsh.
f350ca
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Re: Can Fix-It Shops Turn a Profit in 2014?

Post by f350ca »

I do as much of it as I want right now strictly by word of mouth. Everything from welding to machining to fabricating to cabinet work.
Currently doing a full set of kitchen cabinets.
If its not worth fixing I tell them.
Never give a quote, how do I know what Im going to get into.
Im in a rural area so get loggers, farmers, general repairs etc
If its affecting someones living I can get it done quick, if not I get to it when I can.
I charge what I think is a reasonable rate, 25 to 30 per hour, with no overhead and usually get a 10 or 20 dollar tip. (Cash only)
They supply the materials or parts, (if they have to put that much energy into it they come back for the finished product). Have never been stiffed (small town, not a good idea)
And everyone knows not to even think of showing up before 10 in the morning.
Greg
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tornitore45
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Re: Can Fix-It Shops Turn a Profit in 2014?

Post by tornitore45 »

It depends on the area. As Greg said in a farming rural community there is a sense that equipment must be fixed.
In a yuppy service oriented employment type of community the notion that you can even repair something is not part of the culture.
My shop paid by itself just with all the wonderful things I do, repair and improve around the house, at least that is what I tell my wife when yet another package from ENCO shows up at the door.
Mauro Gaetano
in Austin TX
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SteveHGraham
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Re: Can Fix-It Shops Turn a Profit in 2014?

Post by SteveHGraham »

Just pray she never adds up the bills, Mauro.
Every hard-fried egg began life sunny-side up.
hammermill
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Re: Can Fix-It Shops Turn a Profit in 2014?

Post by hammermill »

Adds to the prayer, please don't let my widow sell my things for what she thinks I paid for them. :)
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tornitore45
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Re: Can Fix-It Shops Turn a Profit in 2014?

Post by tornitore45 »

Funny, she has no interest in finances and would not even know where to look for the records, which is another problem altogether.
On the other hand I have a spreadsheet with all shop related expenses and description, mainly because I am anal and must have been a bean counter in a previous life but also useful to my children when they will be faced with getting rid of all that stuff.
I usually stalk the UPS truck and get the package at the door before she realize it. Once in a while she stand on the garage door looking at my shop and say: Sure there is a lot of new stuff here!
Mauro Gaetano
in Austin TX
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