What would it take to open a classic Porsche shop?

[sugarwood]

Originally Posted by group911@aol.co

Given the fact that about 80% of the current air cooled mechanics out there are nearing or actually beyond retirement age, it may be an ideal time to step into one and take over at a relative bargain.

To balance that out, 80% of air cooled cars are garage queens that get driven 300 miles a year, if that.

[sugarwood]

Originally Posted by kenzinger

I like to daydream. I often find myself dreaming up elaborate business plans to quit my corporate job and follow my dreams - A dive shop in the Caribbean, a restaurant in NYC, a luxury mountain top retreat, you get the idea.

Serious question. How old are you?

[AG81]

If I were to do this.....it would be a retirement project for me. One that didn't have to make money to survive. All it would have to do is break even. My concern is that it probably wouldn't break even.

[skinnerd]

What would it take to open a classic Porsche shop?

Ummmm.....insanity?

[OSC911]

If I was in the US I would seriously consider looking into the purchase of PMO. Great product, established reputation and plenty of future growth - with some product additions and diversification. I am sure there would be plenty of support from Richard also with the transition. This appeals to me but it would just be too difficult from Australia and I really don’t want to relocate. Is this something that would scratch your itch?

[RFP]

With all respect to the original poster, I suspect that successful shops are owned and operated by one who has had a lifetime passion for these unique cars. Thinking about shop ownership as the latest in a long string of disparate daydreams is probably not enough to suggest long term success.

[faapgar]

People look at a well run shop and think that it would be fun.A great shop makes it look easy and fun.You need talent and good personality in your working people to make the customer comfortable to leave his pride & joy.Finding those people is the true challenge.I use to find good workers and after a few years they move on and open their own shop.Fred

[Dpmulvan]

Originally Posted by OSC911

If I was in the US I would seriously consider looking into the purchase of PMO. Great product, established reputation and plenty of future growth - with some product additions and diversification. I am sure there would be plenty of support from Richard also with the transition. This appeals to me but it would just be too difficult from Australia and I really don’t want to relocate. Is this something that would scratch your itch?

Future growth? Explain?

[Matt Monson]

$1-2 million.

[TxGerman]

I was once told that if you want to have a million $ with an auto shop, start with $2 million.

But in all seriousness, I believe that if someone really wants to make an adventure like that work, they can, but it won't be easy. That doesn't mean don't do it, only you know your appetite for the work required and what your risk tolerance is. I for one love the idea, but I also recognize it is not the best fit for me. But in the end, it is all up to you and what you want to do and/or accomplish. Best of luck if you decide to pursue your dream!

Dennis

[boyt911sc]

Kurt,

When you get in town for next month’s engine rebuilding classes, there is a person I would like you meet. About 3 years ago, he was hired as a Porsche mechanic by a well established auto shop that specialized in German automobiles. The shop has been in operation for almost 40 years and the number of customers started to dwindle down.

Last year, the owner decided to retire and sell the business and this forty something year old mechanic took the plunge. He started as a co-owner and became the sole owner in a very short time. I wanted to know where he got the money but thought it was too personal to ask.

Since I do most of the work on my cars including the 911’s, I still depend on the shop for the annual stickers (inspection & emmision). Last year, I was able to get the cars inspected within a week. For 2021, I have to wait 3 weeks just to get a car inspected. The shop’s parking lot is full of customers’ cars (German cars) old and new models. The front lot could accommodate about 20+ cars and more inside the garage.

I was at the shop the other day and talked to the young entrepreneur (forty something) and expressed my congratulation to him for being a shop mechanic to a shop owner in a very short span of time. The boom and success of the business is evident. The shop is having a problem coping the influx of customers. They have 6 or 7 mechanics all busy in the garage and two (2) front office personnel.

I made a joke to the owner that it takes almost a month to get an appointment almost as long as with my doctors. He laughed and said, “I don’t come to the shop on Wednesday’s”. Success does not come easy. I am very happy for this guy’s remarkable story.........

Tony

[Shaun @ Tru6]

Originally Posted by kenzinger

I like to daydream.
Here's one of the big open questions I have, I'm not nearly skilled enough to be the head technician, how hard is it to find and hire someone to fill that role?

Very hard. And I think starting salary would be $80K with 6 figures after 6 months of results. And you will need at least 2 support staff if not more. Finding these people is nearly impossible.

In my opinion, you have to buy an existing shop for credibility alone. Previous owner as a consultant for 6 months. And, in my opinion, you should only strive for the best possible service and repairs, while losing money, for nothing short of 5 years. If you've done everything right in that period, and striven to be the best in the country/area, you should start to make money in year 6. If excellence isn't a thing that drives you night and day, best to leave it as a dream.

I have heard about lifelong experienced shop owners retiring and there is either no one to take their place or the new guys can't fill their shoes. Something to seriously consider.

But it is fun to dream.

[jac1976]

Originally Posted by RFP

With all respect to the original poster, I suspect that successful shops are owned and operated by one who has had a lifetime passion for these unique cars. Thinking about shop ownership as the latest in a long string of disparate daydreams is probably not enough to suggest long term success.

This.

The OP’s daydreaming seems rooted in experiences and possessions that suggest a well-heeled life. I don’t claim to know the OP or his station in life, but do know those that have accumulated unbelievable wealth, in large part from PE, VC and the like, that retired” in their early 40s. Think “f you” money that allows them to chase any and all whimsy. As with the general MO of their former careers, long term success is not really the point. Get in, get out. After all, the current air cooled market isn’t being driven by the everyday Porsche guy.

[MrAlien]

I partnered into a shop just like this about 20 years ago. Partnered up with a guy who was a mechanic at a dealer, I was finishing up my racing career, and it seemed like a good thing to do. The plan was to focus on older Porsches, out of warranty, and vintage cars. The issue was volume, even though we had plenty of customers, it was hard to make any money off just service fees. we eventually shifted focus to racing, and then to just parts.

[eolson]

I went to school for antique auto restoration, worked for five years in British and Italian specialty shops. The owner ran the shop into the ground more than once with different investors each time.

Fun to spend your day around beautiful old cars, but the business side of it has a way of killing your daydream and your hobby. I’m quite sure there’s a way to make it profitable but it takes years and years to get there.

I’m a registered nurse now.


Sent from my iPhone using Tapatalk

[MrBonus]

Originally Posted by boyt911sc

Kurt,

When you get in town for next month’s engine rebuilding classes, there is a person I would like you meet. About 3 years ago, he was hired as a Porsche mechanic by a well established auto shop that specialized in German automobiles. The shop has been in operation for almost 40 years and the number of customers started to dwindle down.

Last year, the owner decided to retire and sell the business and this forty something year old mechanic took the plunge. He started as a co-owner and became the sole owner in a very short time. I wanted to know where he got the money but thought it was too personal to ask.

Since I do most of the work on my cars including the 911’s, I still depend on the shop for the annual stickers (inspection & emmision). Last, I was able to get the cars inspected within a week. For 2021, I have to wait 3 weeks just to get a car inspected. The shop’s parking lot is full of customers’ cars (German cars) old and new models. The front lot could accommodate about 20+ cars and more inside the garage.

I was at the shop the other day and talked to the young entrepreneur (forty something) and expressed my congratulation to him for being a shop mechanic to a shop owner in a very short span of time. The boom and success of the business is evident. The shop is having a problem coping the influx of customers. They have 6 or 7 mechanics all busy in the garage and two (2) front office personnel.

I made a joke to the owner that it takes almost a month to get an appointment almost as long as with my doctors. He laughed and said, “I don’t come to the shop on Wednesday’s”. Success does not come easy. I am very happy for this guy’s remarkable story.........

Tony

Tony,

I'm attending your class because every competent Porsche shop in the region has a multi-week backlog to even get a car in for routine maintenance, let alone major work.

I have zero issues with paying competent professionals but I don't like my car sitting for long periods of time awaiting repairs so I'm really trying to learn to do everything I can, within reason, on my own.

[Bill Douglas]

Unless your core business is money laundering, and the Porsche bit just a front, I'd stay clear of it.

[911 SLANT]

+1 on the purchase of PMO

[Kraftwerk]

I would say you would need:
1. lots of money ( always helps a new business )
2. an ability to delegate responsibility
3. a sense of humor
4. good looks wouldn't hurt

[0cean]

Originally Posted by Kraftwerk

I would say you would need:

4. good looks wouldn't hurt

I thought that was the cars job.