A friends dad did this for 20 + years in his off time from the NYSP, he had a nice short box 1/2 ton chevy, w/ramps, never used a trailer from what I recall in earlier years, maybe later, as small trailers became more popular.
He occupied an old out building across from his brother who did body work, then that shop later became an auto repair business owned by the other brother, reason I mention it, was connected to a nice ole hay barn, kind of neat place to visit etc. So they were basically on the same premises, pretty well equipped and staffed, everyone in town knew them, well known name, looked pretty busy at times, especially spring time.
Well he kept things organized, though there always seems to be an accumulation of junkers or parts equipment, they kept the place from getting cluttered up and move most of the carcasses or junkers out, had to be some left by customers, always a factor.
He made a decent buck, always had work in the shop and 2-3 people involved even if part time or when busy. He built a reputation, steady customers, repeat and new ones referred etc. Don't think he made a fortune, but it was a real decent part time gig, he passed away at 44, massive heart attack, so he did not get to retire and just do that, a good guy who passed way too early, they kept the business going for awhile after.
Same thing everyone else said, you have to be up front with customers about the repair/service jobs and your policies, have to focus on a business plan, stay organized and build a reputation, word of mouth repeat customers that pay on time is key to it like any business. I know another one in the same business, his yard was chock full of old lawn tractors and similar equipment, been in business at the same level for 30-40 years, started with bicycle repairs. It can be seasonal, with busy times but steady if you work at it. I think you need to see what kind of market is around you, if you can get some customers and adhere to a plan that covers the important parts of the business and keep afloat by doing good work, getting paid, repeat and new business, hard to predict how it will actually go no matter what business you get in, has to be worth taking a chance, dealing with people can be interesting, good reason to have firm customer policies so you don't end up with a bunch of stalled repair jobs etc., not sure where most of the junk at this one guys place came from but their is no doubt that some of it came from customers who bailed out.
My neighbor is another one who was in this business, he sold it some years ago to his partner and retired, his father started it, Husqvana chainsaws, Echo trimmers, still think he will order or get things he does not normally deal with, but a very neat and orderly place, well stocked, old school type of place and person behind the counter, well equipped, my neighbor still works there a few days a week. They seem to have focused on certain equipment, excellent saw shop, located in a visible spot right on the state road, never got into stocking any substantial line ups of equipment, it provided a nice living for this guy, not wealthy but comfortable enough he did not have to take a regular job working for the man. Another established company in the same business opened up a branch & shop right down the street from them, carried a full line up of Stihl and other equipment, including compact Kubota tractors, good experienced people behind the counter, but they recently closed the branch, my neighbors place being well established and focused on certain equipment has stood the test of time, while other business have come and gone, has to be a reason for it.
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Today's Featured Article - The 8N and the Fox - by Zane Sherman. Dec. 13 1998, Renfroe, Alabama. Last niht I dreamed about the day that I plowed the field of about 10 acres over on what Jimmy and Dandy called the Ledbetter field. I was driving the 1948 8N Ford tractor that Jimmy bought in 48 new This was prebably in about 1951 and maybe even befor the house was built. This would have made me to be about16 years old and I drove the tractor for nothing and would have paid to drive it if I had had any money which I didn't, but neit
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