There was reasoning behind the 5%. Mostly to do with the amount of money I could make. Believe me, if I didn’t want something I said to get back to someone I wouldn’t say it. Don’t be fooled by one sided stories, I know you’re smarter than that. And while I can’t physically produce on a car I can tell you that in the last 6 weeks I’ve referred probably 7500-8500 worth of work to Eric. I think that’s a fair contribution.
I refer people to eric and mike all the time, how much did you contribute to be 5% partner bc id love to make some $ off what I do for free right now lol.
Dave… What does it take to start a business? Money. It didn’t come off my money tree in the backyard.
This sentence above me makes absolutely no sense whatsoever… It could mean 50 different things… Did you lay out the money needed to start there business? And if so, why did you only get 5% out of it? And if they used there money to start it up then why did they need you? My assumption would be that you contributed very little money into the business translating to the very little ownership percentage… If I only had to lay out $1,000 or something measily like that and made money off referrals I woulda done it too lol, hell, I do it for free as we speak lol
Its funny, a few years ago mike asked me to buy a $300k building for him to become a partner to start CRC, and then ended up going with like 4 diff dudes for a business that probably only costed less then 20k to start lol.
I did use money out of my pocket to start the business. Let me word this for you. I can only make before taxes a very small amount of money before my benefits get discontinued. With out benefits, I have no medical for obvious reasons I need medical. Which, again as I pointed out earlier why I could only have a small percentage. Comprende?
riiighhttt, because mike and all of you do your taxes to the T and could NEEVVERRR of paid you off the books for your “cut” lol… You werent worried about tax evading a year ago when you wanted to work for me under the table, why with CRC?
Didn’t matter if you’re cooking the books or not. You still have to show that you’re making enough money to pay the bills. On the low side, if they’re 3K a month that’s 36K a year. If I were 25%, that amount of money would disqualify me for benefits and I wouldn’t be able to work a part time to supplement my benefits.
:facepalm wrong, in the eyes of the irs, you can loose money for your first 2 years like a ton of normal business’ large and small and then your considered a hobbyist business in which they STILL could have gotten away with because they all have full time jobs… And once again, why couldnt they have paid you your 25% OFF the books in which case you wouldnt be disqualified from anything because no one would know your making anything…
20k would but the toolbox that eric owns dave just so you know. Capital comes from more things other than tangible money. Sure you know that being the business savvy man you are. The amount invested on each persons behalf was large if you want to look at it in terms of lucrative assets. In the end it comes down to just what dave said, to many mindsets in to many directions. I did not get into this business to change transmissions in dump trucks or replace a motor in a 1990 volvo. Simply not what I choose to do with my free time. An thats what the shop became, a crash and bang shop with a focus on oil changes on pickup trucks taking mouse turds out of dodge vipers and replacing gates on landscape trailers. Not what I choose to do with my time. It is what is it is, at least I enjoy working on cars again. Working day in and day out to provide for everyone other than myself is no longer in my cards. Wish Eric the best and hope he does well. Hes talented at what he does just as mike and myself are at what we do. Life goes on. In fact I just finished replacing a trunk floor, cowl, deck lid and straightening a door on a 48 ford sedan. Had fun doing it, beat working late to make sure someones alternator worked on there honda, but to each there own. I also have a model a frame to build for someone next week. The way CRC became just was not what we want it to be. It will never be that again.
Idk about you, but I wouldnt pay for something one already has to contribute to a business lol… Eric was a mechanic and had his box and tools already exsisting so why would anyone pay for something that is already there? 20k is what I see it taking to open that shop… 2500 per month rent, first last and security so thats $7,500, down payment on utilities, llc and legal paperwork and im sure some new tools and what not.
And no offense, but being a repair shop, doing trannys on 1990 volvo and cleaning mouse turds while replacing a fuel pump on a viper kind of goes with the territory… Thats what you opened up for… Hell, you guys didnt even do or plan on doing powdercoating when you first opened up… Maybe you just realized that you dont like being a regular old repair shop like you did in the beginning which is honestly where the steady and profitable work comes from. I know you guys idolize orange county choppers and ricks restoration and shit, but the reality is, 80% of those “specialty” shops dont make it… Regaurdless, I like you and your brother alot and wish you guys the best.
All I am saying dave is that 20k would get you the facility like you stated, but what would you have other than a blank building. Contributions before or during a business is declared as a part of the business in terms of a cash value. Each of us put forth large amounts in terms of what we had to take a chance at doing what our passion is. In the end it turned into something totally different, and I was agreeing with you if you look at the post. You said Mikes mind jumps all over, which is what the business did. It will be refocused from this point forward. No more jumping from tangent to tangent.
Didnt mean anything against you at all Dave either. I appreciate all that you did, have done and still do for us. You have helped us more than anyone else in many ways. All i am trying to say is what the shop became is not at all what I wanted, which is why things will change. I was just giving examples of what we had to do in the end, we went from an idea for a custom shop over some pizza two years ago and ended as a service shop doing all spectrums of repair, thus my three greatly different examples. Nowhere did we ever have a straight forward business plan. Thats what We need to revamp and change.
I hear you man, I understand completely what you wanted for the shop, and what it turned into… At least you guys all still have your jobs and didnt loose your shirt on a 5+ year lease lol…
This is true man… Thats why it changed to what it did to. CRC needed to make ends meet with Eric having everything into it this year, and so much had to hit the back burner because of it. So much had to change, this is what it came down to.
Kevin, I couldnt have said it better myself. Dave like you said, you and I talked about buying and selling cars, fixing them up here and there to flip them. I said sure I could fix a car and make a buck but i would not be doing it full time. Remember the part about “mike you could work a few nights after your day job slapping a motor in a turd, make the money on the sell along side me and be home with your wife for once”. You said it yourself. Alot like you said “this place in ghetto albany is perfect for painting a PR flag on the side with a rattle can, charging them like $1000 for it and laughing as they drove away”. Please read my rant in the CRC section. I do the work I do for the value in doing the work and I do not ****** rig shit to make a buck. Like the Honda you and I got for the first car, we argued for weeks over cobbing it together to make an extra $100 or something… that right there (and eric telling me there is no room in the shop to take on daves cars, yet somehow has the time to do it for you instead of me but whatever) told me it wasnt going to work with you and I. Like you I jumped around and didnt settle on a plan, and neither did you/I when we discussed our ideas for CRcars. I like you as a person, and like kevin said thanks for everything you did and might do in the future too.
The bottom line is this. Capital Region Customs isnt dead, like dave thought a page back. Infact me being pissed off all night is making me want to make it work that much more next year, so I can say “I told you so”. This thread, and the others hotwheels fired me up about through his first posts in months each time, directed towards me in a negitave light is a perfect example of how I personally came to realize what life is all about.
PS, OCC and Gas Monkey are the farthest from my idols. The three people I look up to and will lead my life like are the following: My late grandfather Poppy (that man could make anything he put his mind to, and infact died the night he finished his last project on his house and said literally “I finshed what I wanted to do” went to sleep and passed away. My father for busting his balls for everyone’s benifit first and then picking a few crumbs up for himself afterwards. And Jesse James, he is a craftsman, he knows it, and doesnt give a single fuck if you dont like him for who he is.
When I used to work up at that shop Id say 75% of what we did was work on flip cars, fixing wrecks and putting them for sale out front.
We did general repairs, oil changes, brakes and bodywork too but the flipping was where the money was since it was consistent. You never know when somebody is going to need bodywork from an accident but there were always wrecks to rebuild and sell, pretty much an endless supply.
Unfortunately poor business practices ran that business into the ground.
I’d guess $3000 considering that sounds like it was the buyout price
mike i wish u luck if i had the oppertunity to do custom stuff i would its the best line of work for car ppl like us
at the end of the day one is in business to make money… Flips like you said, are where the money is at… I’d rather buy a black junkyard sideview mirror for $30 instead of a new un painted one for $60 and a used alternator with warranty from jerry brown for $60 instead of $180 to save money, mike liked the new stuff which lowered profit…
I thought he meant thats how much it costed to get him off whatever partnership papers he had.
I know everyone likes the custom shit and the tv show shit, but in all reality, its un consistant and in the end doesnt pay well… Eric at CRC’s old location is making a KILLING right now doing boring regular old shitty jobs… You DO have to love what you do in life to succeed, but sometimes you just have to take the good with the bad.
i agree 100% if custom.work paid well there would be more custom shops. . it doesnt change that its a dream job though