Used Tractor vs. Used Parts Business

[Wheel Horse Kid 104]

It's no joke...what life hands you.  

I know. I just thought old Forest Gump is kinda a hoot!

Edited July 20, 2013 by Wheel Horse Kid

[Wheel Horse Kid 104]

Taylor, you sound like a really down to earth, smart young man. Your parents did a great job and I bet that they're proud of you. The plan that has evolved from your first post sounds like a winner.

I am going to hit this from another angle, the angle of the consumer who doesn't do a lot of the mechanical things on my tractors. The one service that I would really like would be to have the mechanic come to my house to do the service. He would show up with his truck. From his truck he could sharpen blades, change the oil, tune up the engine, fix the minor things. The major things would have to be brought to the shop of course. It would be a traveling repair shop. This is just a thought that I have been tossing around for years but have never had the guts to try!

You sound like you have oodles of ambition and will succeed in anything that you try. Please keep us posted! Good luck!

 

Thanks for your advice and compliments! My parents have always tried to do what is best for me and I really appreciate it all, although I do have to admit, sometimes I have not been the "perfect" child by anymeans! I have given them some headaches in my time! LOL! Are you basically saying to make tractor repair house calls? If that is what you are saying, I think it is a great idea! I will be sure to keep you guys updated!

[Wheel Horse Kid 104]

Thanks so much guys for the added advice! I am definitely going to print off this thread and put it in a safe place so I can refer to it when needed!

 

Two more quick questions for you guys. First, do you think I should just offer repair service to customers who buy tractors from me, or should I also include people who did not buy their tractor from me, but are looking for some repairs to be done? Second, do you think that it pays off in both time and money to fix up tractors cosmetically (paint and seat) before I sell them, or should I just make sure they are sound mechanically and then sell them?

 

Thanks,

Taylor

[papaglide 541]

Taylor, "Tractor repair house calls" is a great way to put it!

[hbrooks49 12]

Never limit your customer base until you have too much work to handle within a reasonable time frame (just like Doctors - you need to set aside a bit of time each day for appointments that take longer than anticipated and to allow emergency repairs for good customers).

 

I prefer patina to new paint - I always suspect that new paint covers a multitude of sins. Plus if someone wants to do some restoration work themselves it is MUCH easier to do so from the patina stage than from a quickie respray........

 

Only my opinion

[AMC RULES 36,945]

I am going to hit this from another angle, the angle of the consumer who doesn't do a lot of the mechanical things on my tractors. The one service that I would really like would be to have the mechanic come to my house to do the service. He would show up with his truck. From his truck he could sharpen blades, change the oil, tune up the engine, fix the minor things. The major things would have to be brought to the shop of course. It would be a traveling repair shop. 

 

Humm, what's old, is new again...a traveling    farrier.    

Call the company "The Wheelhorse Kid"  Have horses...will travel.  

A quick video to illustrate the idea.  

http://www.youtube.com/watch?v=xx2CaZaVMUw

Edited July 20, 2013 by RJ PICKER

[JimD 3,345]

You're 17. Have you discovered girls yet? When you do, this will all become a distant thought.   She'll be cute, and she'll like you. This will be her...  and this will be you... Get yourself a job, you're going to need it.   I hope I'm wrong and all your dreams come true Taylor.

[6wheeler 586]

Going into business for yourself can be difficult, expensive, and very demanding at times. I would never tell anyone not to do it. When I was an owner operator, I quickly learned not to put all my eggs in one basket. When I sold out I had 4 different trailers and my tractor. I had all these different trailers so I would not be bound to one type of freight. This way I could be available to just about all of my customers needs. What I mean is. Maybe, instead of just flipping or parting out tractors? You could learn to repair them also. I mean all brands. Plus small engine and other repairs for various equipment. That way you would be diversified. Flipping, Parting and repairing. Just a thought. 

[Ken B 3,116]

If you are decent at painting then sprucing a tractor up to attract the average homeowner is a good idea. if it looks ratty, they will think its ratty. The trick is you don't want your refurb to look sloppy and or rushed and you want it to look as close as possible to the way it came from the factory. Before you sell a tractor be sure too spend at least a few hrs. using it yourself to be positive that it isn't going to find its way back to you with an unhappy buyer anytime soon demanding their money back. Remember, reputation is EVERYTHING, bad news travels fast.  I'm not sure what your mechanical abilities are, not all repairs are a simple fix. If you have a tech school locally you might want to look into taking some small engine courses at night. If you plan to have your own repair business proper training is key, I really can't stress that enough if you plan to work on a customers machine. If you are working on something on a customers tractor, lets just say its engine related and that engine blows up when they are cutting their grass you are going to be held responcible. You will come upon people who want to see some credentials before they let you touch their machine.  I'm not trying to discourage you, I'm just sayin...

Edited July 20, 2013 by Ken B

[roscoemi 245]

Papaglide hit it. Go to customers and repair everything, whether you sold it to them or not. Do a great job at a fair price and they will buy from you next time. Sell what your customers want, paint it if they want or leave it. Be the all services kinda guy. A decent uniform, clean work vehicle with a gas air compressor on board, and a good tool bag will git it done.

[Wheel Horse Kid 104]

Thank You SOOO much to all who have given their thoughts, opinions, and suggestions in response to questions about starting my own business!!! I never imagined in my wildest dreams that I would get basically 30 replies to this post! Just incredible! I really like it how each person gave their own thoughts on the the subject. All this information is invaluable to me for sure! When I started this thread, I had an idea but no plan how to get there, and now, thanks to all you guys, I have an idea and a pretty good plan to go along with it.

 

I still have alot of "bugs" and details to work out and will need to get everything down on paper, but I feel like I am in alot better spot then I was prior to starting this thread. Definitely going to get my business going asap and hopefully, things will go well for me. I will give it a try fo a couple of years and then just assess everthing at that time and go from there. I am sure there will be days where I will think "What the heck have I gotten myself into?", but I think all in all, it will be a great thing for me and I will really enjoy it!

 

Going to take a business class in high school this fall so that will for sure be a good start in my business education. After high school is over, I would like to get a business degree in college with a minor in American History or Government. I may also try to take some small engine classes too.

 

Lastly, I will try very hard to make sure I keep you guys updated on how my business is doing as you all have helped so much and deserve to know.

 

Thanks Again and Have a Great Week Everyone!

 

Taylor aka The Wheel Horse Kid

Edited July 22, 2013 by Wheel Horse Kid

[IthacaJeff 151]

There is a great deal of wisdom in all of these posts. Let me add another option. I'm a

college professor and can plainly state that most college freshman should not be in

college. A huge waste of time and energy and money just to "find themselves" or to

putter around without direction.

 

Students that enter college after a few years in the real world are much better focused,

learn a great deal more, take advantage of the opportunities they have, and are much

less stressed.  I suggest you take 1-2 years to work the tractor business and evaluate

from that point. Save money to enable a debt-free education. Get a better handle on

what you might want to study. Take a few community college courses to (1) explore

areas of study, (2) get a few prerequisite classes done cheaply, and (3), keep your

head in the academic arena.

 

Do not, though, get complacent and ditch the college idea just because you may be

making some money. The notion that you can always go back to college is much more

difficult than it sounds. Ditching a business to go back to school, especially with a wife, kids,

mortgage, and so forth, is incredibly difficult.

 

Last year the unemployment rate was about 8.5%. Broken down it looked like this:

High school degree: about 15% unemployment

College degree: about 5% unemployment

Graduate degree: about 1.5% unemployment.

 

If you get the college degree your lifetime pay and job options are increased markedly over a high school

education. Not saying you will be happier or wealthier. But it is easier to go to college and then

go back into the blue collar labor market rather than the other way around.

 

Good luck,

Jeff

[Wheel Horse Kid 104]

There is a great deal of wisdom in all of these posts. Let me add another option. I'm a

college professor and can plainly state that most college freshman should not be in

college. A huge waste of time and energy and money just to "find themselves" or to

putter around without direction.

 

Students that enter college after a few years in the real world are much better focused,

learn a great deal more, take advantage of the opportunities they have, and are much

less stressed.  I suggest you take 1-2 years to work the tractor business and evaluate

from that point. Save money to enable a debt-free education. Get a better handle on

what you might want to study. Take a few community college courses to (1) explore

areas of study, (2) get a few prerequisite classes done cheaply, and (3), keep your

head in the academic arena.

 

Do not, though, get complacent and ditch the college idea just because you may be

making some money. The notion that you can always go back to college is much more

difficult than it sounds. Ditching a business to go back to school, especially with a wife, kids,

mortgage, and so forth, is incredibly difficult.

 

Last year the unemployment rate was about 8.5%. Broken down it looked like this:

High school degree: about 15% unemployment

College degree: about 5% unemployment

Graduate degree: about 1.5% unemployment.

 

If you get the college degree your lifetime pay and job options are increased markedly over a high school

education. Not saying you will be happier or wealthier. But it is easier to go to college and then

go back into the blue collar labor market rather than the other way around.

 

Good luck,

Jeff

 

Great idea Jeff! Thank You! I think what you said is the way to go. Finish high school and wait a year or 2 before I start my college degree and during that time, get my ged, work on my business and see how that is going to go, and get some prerequisite classes done. I might also try and find a place that has small engine repair classes. I have an Ivy Tech Community college not more than 2 or 3 minutes away from my house, so that would be a great place to take some prerequisite classes . Also like you said, I will be able to save up some money from my tractor business to pay for a college degree during that time. When I start my college degree, I am planning to get an online degree as I would like to stay at home (and it is less expensive to go that route), plus that way, I will be able to continue working on my business (If I decide that I want to keep doing after working on it for a year or 2) while getting my degree.

[hbrooks49 12]

Glad to see you are going to heed Jeff's advice, as a former college professor I thought it a brilliant assessment of how to obtain an advanced education the proper way..

 

My own two cents might ask that when the time comes you weigh the difference between an online degree and taking courses on campus. My own feeling is that you will get a lot more out of a classroom environment than you will in taking the same courses online. A classroom environment offers a lot of opportunity for give and take, as well as developing a network of people to assist you in whatever path you choose to take. This is the element missing in doing things online. Just my thoughts ... perhaps Jeff will come back and chime in with his feelings - I've been away from the academic world for a couple of decades.

 

Whatever you decide to do remain flexible - very few people end up in the same career in which they started out..... and never be afraid of change - as John Lennon said:

 

 â€œIt's fear of the unknown. The unknown is what it is. And to be frightened of it is what sends everybody scurrying around chasing dreams, illusions, wars, peace, love, hate, all that--it's all illusion. Unknown is what it is. Accept that it's unknown and it's plain sailing. Everything is unknown--then you're ahead of the game. That's what it is. Right?† 

 

Again, just my two cents.

[Wheel Horse Kid 104]

Thanks for the additional advice hbrooks49!

[rwilson 128]

I work at my local Toro dealer part time. I bet I see 5 wheel horses maybe in a month. 10 to 25 Toro's in a month. the rest of the stuff is other brands. We had 10 pieces of equipment come in this morning. I think 2 items were purchased there. Not everything was purchased there. He takes trade ins and sometimes fixes them up to sell and the bad ones he uses for parts. He also works on Chainsaws and weed eaters. He also has a delivery service. he has a guy go to customers houses and pick tractors up and deliver them back when they are done. Then you have to take into consideration storage, because not everyone will come pick their mower up when you call. some mowers have sat at this place for years. Also the parts building should be organized and your parts should be labeled or numbered in some way. Good luck. Just dont turn your hobby into something you hate!!

Edited July 22, 2013 by rwilson

[Wheel Horse Kid 104]

Great info rwilson! Thanks!

[IthacaJeff 151]

Taylor;

Online courses are a crapshoot. Some are awesome and you will learn a great deal.

Most are not. Online degrees, especially undergraduate degrees, are not nearly what

they are advertised to be. I would stay away. That being said, you may want to venture

into taking an online class from a reputable college. Most state university systems have

online course listings, and I'm sure Indiana does as well. These courses will have passed

a series of reviews to ensure they pass muster and will be taught by qualified faculty.

 

Take a basic liberal arts course, like biology, physical sciences, english, math, psychology,

etc. If you take a class from Ivy Tech, try to take a class that will transfer to a 4-year

school. A small engine repair class may help your business, but won't help you get into

college. Take math, science, history, sociology, etc; these are the classes that may

transfer to a 4-year college.

 

Oh, and avoid the girls that JimD mentioned. Nothing will changes your plans faster!

 

Jeff

[Wheel Horse Kid 104]

Thanks for the info Jeff! I was not aware of that about online schools. I guess I will just have to do some more research before I make a final decision (Still got plenty of time though). Girls are not much of a problem for me as I am homeschooled (I do an online academy), so it is probably going to be awhile before I have a girlfriend. But when I do, I will heed your guys advice! LOL!

[IthacaJeff 151]

My 6 kids have all been homeschooled, but trust me, the girls will appear. And now that my oldest is in

college, well, girls are a distraction!  If you are currently doing work as part of an online academy, don't

be mislead that it is similar to online college. My reservations about online colleges are many and cannot

be adequately discussed here. But a key issue is that you simply cannot get the hands-on experiences

and opportunities as in a brick and mortar school. It is nearly impossible to be mentored via the internet.

 

You've got a good head. Take your time and follow your passion.

 

Jeff

[Wheel Horse Kid 104]

Thanks Jeff!