Hi Ron,
Buy assets not liabilities.
Your 50k would be better off invested in a residential rental property in Florida appreciating without your sweat. There are ten thousand ways to lose your ass in the machine shop business. Always remember this guy is selling. Who sells? Salesmen. Do your due dilligence and get into the details if your serious.
Good luck
Tom Lipton
WE are in a world of s*it here in penna. Old buildings no cirtificat of occupanciy or it was lost? 9 code books to go by stay out of pa. No good for bussiness
Ron, I think that if you tote up the responses to your post you'll find that the majority of respondents think what you described is not such a great deal, and I tend to side with them on that.
My suggestion would be to get yourself a job in a small shop and learn what goes on in that kind of business from the inside. After a year or so there, you'll be in much better shape to decide what you want to do regarding a shop of your own.
Experience is a great teacher, and you learn from mistakes.....
But it hurts a lot less to learn from other people's mistakes than from your own.
I'm an electrical engineer, but chance had me spend about a year in the
60s managing daily operations in a precision jobbing machine shop with about 10 machinists working in it. That was still the pre-CNC era for shops that size. It was the best education I ever got in such a short time. It taught me a lot about how to design stuff that was easier for folks to produce, and also that unlike a pencil, there's no eraser on the back of an end mill, so mistakes were often impossible to correct.Good luck,
Jeff
||Ron Thompson wrote: ||> Hi everyone, ||> I am in Florida and have come across a small machine shop for sale. ||> I have an associates degree in Machine Tool Technology and would like ||> to try my hand at my own commercial shop.
||My suggestion would be to get yourself a job in a small shop and learn ||what goes on in that kind of business from the inside. After a year or ||so there, you'll be in much better shape to decide what you want to do ||regarding a shop of your own.
And you will have made more money than if you'd owned it :)
|| ||Experience is a great teacher, and you learn from mistakes..... || ||But it hurts a lot less to learn from other people's mistakes than from ||your own.
In my business I often work with couples that have invested their life savings and most of their credit into a small-town auto parts store, with little or no no prior business experience. The parts business is pretty idiot-proof, but it's still a steep learning curve even if they have parts experience. It is true that the help often makes more than the owner.
Texas Parts Guy
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