Opening up shop. Couple of questions.....
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Opening up shop. Couple of questions.....
Well My friend and I have been doing motor swaps and 'kinda' building engines in his garage for about 2 years now. We've beewn getting alot of business lately and getting backed up quite a bit.
Well my friend met a guy that has a garage with seperate bays and offered to rent a bay out to us for $300 a month. This includes a lift and use of the compressor. It also provides prvacy and enough room for a bout 4 cars tightlly stored for the night.
Now after working out of a garage for 2 years, what would it take to start a real business? Do I need to get a lawyer and stuff like that? Notify the Government or anything? We're really not planning on getting rich or anything. Just having fun doing what we like to do while making money.
I don't know what questions to ask or where to start. Would we be better off working out of his home garage?
We've got 5 cars parked oin the drive way and street waiting for engines/trannies/head jobs... We'vew got engines and car parts all over the garage floor and in the side yard. It's really begining to look like some sort of chop shop.
What should I/do I need to do?
Thanks
JT
Well my friend met a guy that has a garage with seperate bays and offered to rent a bay out to us for $300 a month. This includes a lift and use of the compressor. It also provides prvacy and enough room for a bout 4 cars tightlly stored for the night.
Now after working out of a garage for 2 years, what would it take to start a real business? Do I need to get a lawyer and stuff like that? Notify the Government or anything? We're really not planning on getting rich or anything. Just having fun doing what we like to do while making money.
I don't know what questions to ask or where to start. Would we be better off working out of his home garage?
We've got 5 cars parked oin the drive way and street waiting for engines/trannies/head jobs... We'vew got engines and car parts all over the garage floor and in the side yard. It's really begining to look like some sort of chop shop.
What should I/do I need to do?
Thanks
JT
#2
Definitely need to set up an agreement between you and your friend (in writing) to lay out where money goes, who spends it, how they can spend it, etc, etc. If you're starting a "real" business, it will have to be registered. You'll have to keep track of your costs and revenues, so paperwork and good organization would be essential. It won't all be fun, but that's where you should start. I would think that the town hall would have all you need - just go ask the information clerk and they'll direct you, I'm sure.
If you do everything for cash, you could conceivably not do anything except rent the space and work out of it. If you want to do this for a while, I'd suggest you make it legit (I'd suggest making it legit either way, but whatever).
If you do everything for cash, you could conceivably not do anything except rent the space and work out of it. If you want to do this for a while, I'd suggest you make it legit (I'd suggest making it legit either way, but whatever).
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