Buisness questions.

Yager · Post by **Yager** » Tue Jan 13, 2009 9:54 pm

With the given economy situation, what kind of buisness do you think would have the greatest chance of not going bottom up.

Body shop.
Basic mechanical shop (which would beat the local prices of labor greatly)
Custom shop. (fabrication, welding, exhaust, paint and body work, basically anything that has to do with customizing a car in an aftermarket aspect.)

Something car related if anyone else has any other ideas.

DEALER1 · Post by **DEALER1** » Tue Jan 13, 2009 9:56 pm

IMO, none of the above. There is NO WAY i would start a business right now.

EvilZ · Post by **EvilZ** » Tue Jan 13, 2009 10:21 pm

This is just me but intrest rates are really low. If you had a good business plan and good credit it seems like a good idea. I would think a body shop would be the way to go only if you could get insurance claim work, because I'm sure you know that is the easiest way to make consistant money because people are always gonna have wrecks.
Starting a business in a recession is all about timing you want to do it at a time when intrest rates are low but right before the economy come out of it. Unless you have a crystal ball i would be very careful. Espically considering Dealer1 who owns a business it saying its a bad idea, he would probibly know.

BTW Check out Inc. magazine their are some really good articles in it about starting a business.

ChrisT/A · Post by **ChrisT/A** » Tue Jan 13, 2009 10:24 pm

my business failed,months ago

Gibson · Post by **Gibson** » Tue Jan 13, 2009 10:25 pm

Do you know anything about running a business?

DEALER1 · Post by **DEALER1** » Tue Jan 13, 2009 10:27 pm

ChrisEK wrote:my business failed,months ago

You and 1000's of other people.

I have lost over $70k in the past 6 months.

Yager · Post by **Yager** » Tue Jan 13, 2009 10:27 pm

JAG05Z28 wrote:Do you know anything about running a business?

Well buisness is my current major. That and my father owns a buisness and I could also use him to supervise me and give me sudgestions.

EvilZ · Post by **EvilZ** » Tue Jan 13, 2009 10:30 pm

The biggest mistake some many business owners make is they don't reinvest enough back into company for hard times. I'm going to think of everything from a financial stand point though considering it's what I have a degree in.

Yager · Post by **Yager** » Tue Jan 13, 2009 10:30 pm

DEALER1 wrote:IMO, none of the above. There is NO WAY i would start a business right now.

Yeah I completely understand. Thats why i havent jumped head first yet lol

DEALER1 · Post by **DEALER1** » Tue Jan 13, 2009 10:32 pm

If you have a minimum of $200k layin around, go for it.
If it requires getting loans for everything, i would wait.

Gibson · Post by **Gibson** » Tue Jan 13, 2009 10:32 pm

Instead of starting a business right now I would advise (this coming from alot of my professors) you to start reading all you can about investing in stock, bonds, etc. And wait awhile 6 months or so for things to start going back up and jump in on that. Alot of money can be made in investing after an recession.

EvilZ · Post by **EvilZ** » Tue Jan 13, 2009 10:40 pm

Investing during a recession should be such a given but it seems like so few people understand this.

Pr4mnceMan · Post by **Pr4mnceMan** » Tue Jan 13, 2009 10:43 pm

DEALER1 wrote:
ChrisEK wrote:my business failed,months ago
You and 1000's of other people.

I have lost over $70k in the past 6 months.

Uggghhhh....I don't even want to think about it.

I haven't had a "clear" face the past 8 months...and I didn't even have acne problems in middle/highschool.

I also agree with Tony, no way in hell I'd start a-n-y business right now.

Gibson · Post by **Gibson** » Tue Jan 13, 2009 10:44 pm

I saw a thing on the news were people are saving alot more then they are spending now. Although this makes a recession worst, once people relize things are on their way up and start investing I think stocks are gonna jump quick because they're undervalued right now..

Caleb7 · Post by **Caleb7** » Tue Jan 13, 2009 10:46 pm

I am actually expanding my business. Only because the revenue I generated alst year allowed me to purchase new equipment. If you have to get loans I say wait.