in response to LZ (DentDoctor's) thread http://www.bmwfanatics.co.za/showthread.php?tid=56493
It is very very difficult to write this post, every man has his own "pride" and will not concede defeat, but asking the moderators a while ago, they seem to think and suggest that I should make this post, as an advertiser here at BMWFanatics.
Similar to LZ (DentDoctors) "plea for help http://www.bmwfanatics.co.za/showthread.php?tid=25859
I now find myself and Speedway Motorsport in a very similar situation
Some history
1) I purchased the business as a going concern in January 2013, at the time I had hired my own accountant to audit the books, and the business was averaging a good monthly turn over, with livable profit margins for me personally.
2) The previous owners, one silent, and the other active (lady from the banking sector), had no advertising at all, and the business ran on word of mouth and passing trade alone.
3) I purchased it with hopes of increasing its turn over thru activelly advertising it, hence becoming an advertiser here on FANATICS, as well as creating a facebook page, http://www.facebook.com/speedwaymotorsport , and running street flyers in the area and posting on various motoring forums.
4) My previous mechanical experience (Aircraft maintenance engineer) and my "Germanic-Virgo" as well as my career (Airline captain 18yrs) would provide good leadership and quality assurance, to take my new venture to new heights.
but
Current situation
1) Even though I actively partake here on BMWFANATICS, "Semi-secretly" at VW forums, and openly post on OpelForums, a Facebook page ( http://www.facebook.com/speedwaymotorsport ) with some interaction and just over 300 direct followers, business just doesn't seem to want to grow, and turn over has in fact dropped almost 40%, all the while overheads such as site rental, electricity, salaries (minimum prescribed by MIBCO) have all increased....and I thus find myself in a loss making situation, surviving on a personal private bank loan , taking no reward home from my business, as there is none..to blame would be SA economic climate, public holidays and increasing costs of operating.
2) I have had support from some fanatics in the past, and would estimate it added a good 5% to the monthly turn-over, and to those that have supported me....a big big big thank you![Ty]( "Ty")
![Ty]( "Ty")
I get so many PM's for prices etc and quotes, but very little of these are actually converted into "real" trade.
My "plea for help"
1) I now find myself in the EXTREMELY HUMBLING position of asking for the Fanatics help, I cannot increase the prices unrealistically, only option is to increase the number of active feet walking into the shop, to increase the turn-over, and thus bring the ratio of profit vs expenses back into equilibrium
2) I could really do with some increased trade, even if it is only for small items such as wheel balancing or wheel alignement
Balancing R30
Punctures R30
Alignment R180
Larger deals such as tyres or exhaust, or suspension related work w.r.t. shocks, ball joints, rack-ends etc
Our house brand of tyre is FALKEN, and we deal directly with Yokohama and Pirelli warehouse, as well as getting Bridgestone, Michelin, Goodyear and Conti at "cost + 5%" from another supplier.
We also do Towbars and brakes.
3) Every bit helps, but I need the referrals for your family or friends, or even better a fleet of cars, companies etc.
4) as LZ put it his post (08/11/2011) http://www.bmwfanatics.co.za/showthread.php?tid=25859
![Cry]( "Cry")
![Cry]( "Cry")
Speedway Motorsport and myself are in this same predicament, there is probably another month or three before a final decision needs to be made with regard to the future of my business.
It is very very difficult to write this post, every man has his own "pride" and will not concede defeat, but asking the moderators a while ago, they seem to think and suggest that I should make this post, as an advertiser here at BMWFanatics.
Similar to LZ (DentDoctors) "plea for help http://www.bmwfanatics.co.za/showthread.php?tid=25859
I now find myself and Speedway Motorsport in a very similar situation
Some history
1) I purchased the business as a going concern in January 2013, at the time I had hired my own accountant to audit the books, and the business was averaging a good monthly turn over, with livable profit margins for me personally.
2) The previous owners, one silent, and the other active (lady from the banking sector), had no advertising at all, and the business ran on word of mouth and passing trade alone.
3) I purchased it with hopes of increasing its turn over thru activelly advertising it, hence becoming an advertiser here on FANATICS, as well as creating a facebook page, http://www.facebook.com/speedwaymotorsport , and running street flyers in the area and posting on various motoring forums.
4) My previous mechanical experience (Aircraft maintenance engineer) and my "Germanic-Virgo" as well as my career (Airline captain 18yrs) would provide good leadership and quality assurance, to take my new venture to new heights.
but
Current situation
1) Even though I actively partake here on BMWFANATICS, "Semi-secretly" at VW forums, and openly post on OpelForums, a Facebook page ( http://www.facebook.com/speedwaymotorsport ) with some interaction and just over 300 direct followers, business just doesn't seem to want to grow, and turn over has in fact dropped almost 40%, all the while overheads such as site rental, electricity, salaries (minimum prescribed by MIBCO) have all increased....and I thus find myself in a loss making situation, surviving on a personal private bank loan , taking no reward home from my business, as there is none..to blame would be SA economic climate, public holidays and increasing costs of operating.
2) I have had support from some fanatics in the past, and would estimate it added a good 5% to the monthly turn-over, and to those that have supported me....a big big big thank you
I get so many PM's for prices etc and quotes, but very little of these are actually converted into "real" trade.
My "plea for help"
1) I now find myself in the EXTREMELY HUMBLING position of asking for the Fanatics help, I cannot increase the prices unrealistically, only option is to increase the number of active feet walking into the shop, to increase the turn-over, and thus bring the ratio of profit vs expenses back into equilibrium
2) I could really do with some increased trade, even if it is only for small items such as wheel balancing or wheel alignement
Balancing R30
Punctures R30
Alignment R180
Larger deals such as tyres or exhaust, or suspension related work w.r.t. shocks, ball joints, rack-ends etc
Our house brand of tyre is FALKEN, and we deal directly with Yokohama and Pirelli warehouse, as well as getting Bridgestone, Michelin, Goodyear and Conti at "cost + 5%" from another supplier.
We also do Towbars and brakes.
3) Every bit helps, but I need the referrals for your family or friends, or even better a fleet of cars, companies etc.
4) as LZ put it his post (08/11/2011) http://www.bmwfanatics.co.za/showthread.php?tid=25859
Quote:In this industry, as I have discovered, its who you know, and I am desperatly seeking to get to know the right people, or I face the bleak reality of closing this place down.,
Speedway Motorsport and myself are in this same predicament, there is probably another month or three before a final decision needs to be made with regard to the future of my business.