Advice please

Retiring at end of year, thinking of rent a stall for guys to work on their own tractors. Heated, well insulated, well lighted, press, hoists, special tools & seven bays. I would supply parts, turn flywheels, maybe valve jobs & run dyno. What would be a good rent$?. Thanks, john

Cost of insurance, cost of is stolen/broken tools, utilities, beer $ and headache $, then multiply it by 2.

That is hard to say given the limited information. Location is a big part of the rate. Then what do the special tools cost & what is the life of the tools? What are your annual heating, taxes, insurance, legal, accounting, internet, building up keep, etc. costs? Other considerations are occupancy rate, security, etc.

dont appear that you will be retired doing that.

Sounds like your looking at utilizing 'your' shop space once retired.

Liability would be of some concern. Who'd be liable for accidents, fire, and what not? You gonna be liable for that, or the 7 different guys using your 7 different bays??

Sounds like a fully equiped shop. One that would be subject to stuff walking off with various people involved and not on the pay roll. Even on the pay roll, it's something to worry about. You really want to open your shop up to that??

Another thing to think about. People that have a project to do, but don't have a place to do it in, are likely the same type people that would start a project and never finish it. I could see people taking you up on using a bay, pull something in there and tear it down, and 3 years later, it's still sitting there. Getting involved with some procrastinating individuals, and you might just end up with a shop full of torn down projects not getting worked on. I've seen to many people with good intentions, but never a success story. Heck, some of my buddies are that way.

I think I'd either sell the shop, or use it in some other way. Storing and working on retirement toys might be the best thing to do if its all paid for. Maybe let a family member, neighbor, or friend use a bay if they was really in a pinch and needed a roof over thier head on a project. But I'd just do it on the basis of helping them out.

Truth is, the number of farmers doing thier own mechanic work is a number that is getting smaller all the time. Especially extensive stuff like engine overhaul and transmission rebuild. And of course the new stuff like most of them seem to want to have, is under warranty and goes back to the dealership. Alot probably still do oil changes and things like that, but I don't really consider that to be real wrenching.

I'd diffinately think twice about it, before doing it. However, I think a young mechanic with a little experience would be better off getting out on his own rather than being a lifer at some dealership someplace. Maybe look into that if your going to scrap the 'farmer do it yourself' plan. But all the same bad scenarios will probably still apply. Might be less trouble with somebody who is actually wrenching for a living, and needs a little help to get out on thier own.

Speaking of unfinished projects. My brother has an AMC Eagle car in his shop that he has been putting a motor in it for 35+ years. The new motor is sitting beside it. Stuff stacked on top of it. He doesnt do anything to it and the night crew doesnt either.LOL In a 40 x 60 there is so much junk in it that there is only room for 2 chairs to sit and talk when i go there.

in the 1970s in Eastern NC there was a place called Your Garage that did just that. Well equipped mechanics shop, you furnish all the labor, they rent the space, tools, and provide limited advice. Worked out well for those of us in apartments.

What's a good rent? $1? $,000,000? We don't know what your costs are, what your intentions are... You need to cover your costs AND you need to make the cost high enough to encourage "customers" to get in, get done, and get out. The latter is going to be harder to do without pricing yourself so high that they'd rather pay you to work on the tractor for them.

"Oh I'm waiting on parts." "Oh I'm too busy to work on the tractor right now." "Oh this, oh that..." A million excuses. Now you've got a tractor torn apart in one of your bays, potentially sitting there for months racking up rental fees. Now you've got two choices: Finish their work to get the tractor the heck out of your building, or let it sit there and rack up rental fees that you won't in good conscience be able to charge your friends.

The military hobby shops worked like that but I never visited them and do not know how they operate

Focus on getting that Idea out of your mind!

For how long? Why did it end?

That idea has been tried a couple times I know of here in this part of Indiana for guys to work on cars. The places never were successful, probably because of the reasons listed below.

That does noy sound like retiring to me. I would never do something like that. You are asking for trouble. Lease out the entire building to one person or business. Collect one check, go to bank. Bill

I had to stop my employs from working on their cars at nights and week ends. They bring a bud are two they make a mess they think everyone works knee deep in oil. They get oil/grease on the floor, walls and celling. I can work on most anything and not make a mess its something I pride myself in it took time to learn how to do that. If I let the public in my shop they would be gone fast as they could not put up with my rules. : )

I once worked at a shop you were off the clock they charged my wage per hour for the use of the shop. Being already broke I never took them up on it. If I have to show you how to do it I may as well be doing it at my hourly rate : ).

Has to be the all time award winning worst idea I ever heard of. Just go out side and hit yourself in the head with a board. Less expensive and less painful.

Without more info, hard to advise. Is shop on residence or stand alone property? Is this meant to keep you busy or help fund retirement. Do you plan on being there nearly all the time work is being done? Etc. Based on supplied info, I agree with others, just plain bad idea.

A list of reasons to make wisdom your friend:
1) 2% of the potential customers know what they need to know to successfully fix their tractor.
2) None will bring their own tools.(think on that, it is important)
3) Parts will be a drastic bottleneck.
4) Contracts for use and time will be a urination contest when things are not finished.
5) Liability insurance and the wording to keep your shorts on when an axle takes out a door post, or a fire consumes the building
and 4 other 100,000$ tractors.
6) Exhaust extraction to meet OSHA rules.
7) They will want to weld and don't know how.
8) Non farmers will use it!
9) Waste removal, oil, coolant, rags aand emptyish cans of goo.
10) I want to pressure wash this new 47 Case.
11) If I had the manual I would have done this at the farm.
12) 10% will try to make pullers.
13) Chairs and coffee will make the wrong type of clutch.
14) they will bring them in on trailers with the need to park them.
15) What do you know about Belarus 7111 tractors and will they fit in the door.
16) Abandoned tractors stacking up behind the building.
There was never a light at the end of the tunnel.
Jim

Get a lot of insurance. If someone drops a tractor on themselves it's 100% your fault in this country. Then what if one of them sets fire to the building working on the fuel system. I had a ASE mechanic catch a truck of mine on fire once. It's the kind of mechanics I have in my area, he was working on the fuel system when the problem was a couple stuck valves.

Some people will still expect you to guide them, fix their mistakes and of course lend your tools (all for free). Everyone involved might be happier if you worked part time and cherry-picked which projects you want to work on.

Is this an off-site shop or is it in your yard within sight of your home? If off-site maybe rent the whole shop to someone who wants to start a repair business? That way you only have one person responsible for everything including the rent. Another option is to sell the whole business to someone.

In time this idea will pass and then you can enjoy your retirement.

That was my thought. When I was younger I rented a garage space to work on my car.
It turned out ok, but the owner had all the risks everyone mentioned.