[Laneco]

We have a very dear friend who has been in the automotive repair business for two decades. This guy has made money hand over fist, until this economy... it is really kicking his butt.

Every expense has gone up from labor, to insurance, to electricity, to parts, but he has had to reduce his shop rate to remain competitive. When a customer is faced with a big bill, they used to fix the car (on a credit card if necessary). Now, if the customer is looking at a big bill, the car goes un repaired. Lots of guys are out of work - including mechanics. They advertise on craigslist, etc., as low cost mobile repair. Customers who would not have dreamed of using these services a few years ago are now having transmissions replaced in their drive-way for $100 cash labor and a used part from a wrecking yard.

Commercial customers (such as car lots, etc) are paying slower than ever and using parts they source to keep costs down. So any markup for parts also disappeared. Speaking of parts, the parts suppliers want their money VERY quick. No letting a shop ride for 45 days, PAY NOW.

I'm not trying to dissuade you from this idea, just pointing out that you had better REALLY do your home work right now...

angela