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Your Own Business Repairing Cars.

Any Skilled mechanic with business acumen, could possibly make a better living working for himself, however there are a few pitfalls.
The first thing to consider: I have the skill and know-how, do I need the hassle? Working for yourself can be a rewarding and enlightening experience, but do not assume it is all plain sailing, there will be times when you will feel like giving up but at other times experiencing a feeling of achievement. Although becoming a millionaire will not be quickly achieved in this field.

Financial matters.

Do not attempt to begin working this way if you are not prepared financially, an ideal situation would be to have savings backup of at least six to twelve months present earnings. The more savings you have will make the transition from paid employment to self-employed, easier.
Is your family behind you? Your family should be consulted, as your new venture will affect them first. Your domestic financial outgoings will remain; a growing family can be expensive.
A motor mechanic can expect earnings in 2005 of at least £20,000,per annum. (£384 weekly when employed,) to make it worthwhile in self-employment an estimated annual figure of£35,000 profit could be expected. To earn this, a minimum of 20 to �25 per hour labour should be charged, although profit on spares will be a bonus. This could be used to reduce labour charges to help you become more competitive.

Mobile Mechanic or Workshop.

A decision should be made at the onset to become mobile or based at premises.
If becoming a mobile mechanic appeals to you, remember you will have initial expense of a suitable van, with associated running costs also somewhere secure to park overnight.
Motor trade insurance must be obtained to insure your own and customer’s vehicles, in your care. As this type of cover enables you to drive virtually any car, this type of high risk insurance, will be an expensive item.
Over a period mechanics collect a huge assortment of equipment and tools, these must be carried in the van.
A selection of servicing parts could also be purchased and be ready for use, although until you are established most parts should be purchased as and when required.
Mobile mechanics can carry out servicing and light repairs at customers premises, mostly in drives and carparks, but more complicated difficult access work will have to be carried out in a workshop. It will be worthwhile making an arrangement with a friendly garage proprietor to provide this service to you at a discount. You may also be able to obtain extra work from this source using the garages facilities. This could be very useful during winter period, when customers garage or even outside will be a cold place to work.

Workshop Based.

To become based at a workshop could be a much more expensive option also you will need many more customers, and also to employ mechanics to make this option viable.
There will also be Commercial Insurance, Rent, Business rates, Wages, Office Expenses, Electricity, V.A.T., Telephone and Heating bills to consider.