You would either need to be the first with this idea, or have a huge trust fund.
You would either need to be the first with this idea, or have a huge trust fund.
patience, humor, patience.
I don't think I would need a huge amount of money.
Just need a few used peds to build and sell, some parts to stock the walls, tools(already have those), accounts(already have tax ID), signage(I make signs), location(going to have a place soon for the sign shop).
why would mopeds be seasonal in florida?
isnt that the ideal location?
riding season is every day there geeze
^^^it is for meeee!!!! Daily rider and so is my girl. She rides to work everyday.
topless female hand massage - mopad/scooter/repair - coffee shop and your in !!!!! w/free air
It takes a village
John, it's actually not a bad idea, so don't listen to the negativity.
If you have the know how to fix mopeds or rebuild them, as well as the availability to purchase used peds, then it's possible.
I have a garage full of mopeds and a constant amount of people either buying restored bikes from me or bringing them for repairs.
Follow your dreams
"Don't listen to the negativity" = "Don't listen to those offering helpful if disappointing advice that comes from hard-earned experience"
dude hes in florida he could probably just rent tomoses to tourists in any beach community and float by
100% agree with onell lee
I really dont mean any offense shelly, but is that your primary household income? (I really dont know). Pursue the dream for sure, but dont ignore reality. It's one thing to sell a few bikes and do repairs for cash outta the house but it is another thing altogether to actually rent a retail space and start a real business. Just to put it in to perspective:
buy a bike for $300, put $100 in parts into it, sell for $800, which is a generous but not unreal retail price. After taxes, rent, insurance, various internet/advertising costs, tools, blah blah blah, (assuming he has no other employees to pay) the business will have to have a gross yearly income of about $80,000 to have a personal take home of $20,000 to $30,000... that's a lot of mopeds.
The New York guys seem be doing just fine with their Brooklyn shop. But out there, mopeds command a much higher price. (edited)
oh boy this thread. Cliffy pretty much nailed it though.
Why dont you just buy a bulk shipment of tomos's and sell them at you sign store and on CL? you def would not lose money
As for repairs, you could offer a large warranty on the ones you sold as long as they remained stock or only slightly modded by you (pipe, airfilter jet).
a stock tomos will run forever! so you prob would never have to do it.
I would not start a "moped store" because as stated before its just easier to work on them yourself and even at 60-70$/hr repair fee (which is on the low side) generally mopeders dont have that kind of money to spend on repairs.
maybe stock some pipes, kits, carbs, intakes for the locals too... just may be hard to compete with online stores likes treats and 1977
Ando, by that math, if I paid myself 30k...Leaving 50k to run the business, it would mean my monthly expenses would be around $4200. That's way too high I would think.
If I opened a moped shop, WITHOUT MY SIGN SHOP, I could easily find a shop around here for under $700 a month. Say I spend $1000 a month on buying and fixing used peds. Add another $300 for utilities. Let's just toss out a number for insurance $500 monthly.
That makes only $2000, so far. Rent for an apt. is around $700, so let's just round up to $3000. That makes $36k in expenses for a year. Break that down into mopeds sold at only $650ea, I would have to sell 55.5 mopeds a year to break even. One moped a week could be a lot for me to handle, while still handling my day to day business with the sign shop. I totally understand that.
I obviously left out some major personal expenses, like food, beer and whatnot. Now think about my already established sign and vinyl graphic business taking most of the expenses for the rent of the location and to pay myself. Doesn't seem too far fetched.
I would like to thank all of you for giving me the beans about reality and what to look out for and for the kind words. The storefront for Stickem Up Graphics will open either way. I'll keep you guys posted about the moped side of things.
Pizza - no offense taken, but yes, it is my sole income. After having gone through a battle with breast cancer and losing my "real" job, I got into mopeds. As a single mom, it allows me to be home with my boys, and i'm doing something I love to do....I didn't want to go back to pushing papers around.
I should clarify though, that I do not rent a shop; i work out of my garage.
The figure I gave assumes that buying peds and parts is part of the expenses. so to simplify, if a ped costs $400 to buy and restore and you sell it for $800 then your net is $400 (50%). so if you have no other expenses at all then a gross income of $80,000 means a net of $40,000 because you spent 50% buying/fixing the bikes. but of course, there are other expenses that bring that down further. The problem with your model is that "$1000 a month on buying and fixing used peds" is way too low for the 4 mopeds per month that you'll need to sell to reach your break even point. That's why it doesn't add up. $250 to buy and restore a ped is unrealistically low (99% of the time) even when you're getting parts wholesale.
Also, I was basing it on chicago (my only point of reference) commercial rates which can be easily $1-$2 per square foot per month in a low visibility area. also, you have business taxes, then personal income taxes and LLC fees (depending on your business setup) It's not a totally accurate model but it's not too far off. IL is an expensive state to run a business in tho, it's a constant bummer for me. I have heard that it's a lot cheaper elsewhere. There is a guy here in IL who seems to do pretty well selling restored maxis but the whole business seems to be on CL so im guessing the overhead is minimal and if you only take cash... that kind of changes the game ;)
either way, it's not impossible. Live the dream and keep us posted. It's an interesting discussion for sure.
@shelly, that is rad. I'm sorry to hear about the circumstances but it's awesome that things have worked out. I have noticed that you have some of the raddest, most complete bikes out there and now that I know at least some are for sale i'm even more intrigued.
Put in a laundromat.
Edit: No, I'm serious. Put in a bank of washers and dryers; the next best thing to owning a scrapyard/gold mine. (edited)
Overhead would slaughter you if you are moped only shop. Best would probably be going scooter (ouch) and moped shop and try to draw the attention of the vintage scooter guys and moped people.
But you will probably need to wrench and supply some of the recent 2 stroke commodes because you will need to make a living on something. No bad coinage though when you figure the new scooter owners have a thirst for speed and mods, so throwing on a pipe and rejetting at $$$ is goodly coin to keep you fed, housed, clothed and in business.
Way to be, Shelly. Darn it, you're inspiring.
Pick yourself up, dust yourself off and persevere.
Entrepreneurship is scary, but when you have the spark, it's so well worth it.
you won't sell a moped every week. it's all about repairs, dude.
First you go out get find the mopeds before we get them !!!
+ 2 on what rebel said but, you need customers & lots of them & they need to come in everyday & give you money
your going to need to collect a minimun of $200-300 a day just to keep your head above water
dont forget state & fed taxes every month or quarter & other bs you'll have to pay
i hope theres a couple of thousand moped / scooters in your area
i like the renting idea, you would make good money doing that in FL i bet..
here's what ya do...use your shop, use your tools...rent the space and tools to let others work on their peds...they sign a liabilty form...you take money from them...
you can make money renting. renting space yes, renting bikes hell yes.
We had a private workshop and I tried to afford the $50 a month by buying and reselling mopeds, mostly through craigslist. I probably made about ONE dollar an hour in all honesty. I was wroking on bikes maybe 20hours a week and pulling in maybe 80 bucks a month.
What winds up happening is if you go big, you get new bikes, you're set but upfront costs are huge. if you buy shit bikes cheap you spend a ton of time getting them fixed, both before and after you sell them, and if you want to move any kind of volume you're not making much money off each one, then you filter in expenses like fuel and oil and fluid and new gaskets and seals etc etc.
on the plus side, i wouldve spent every one of those 20h a week hanging out and fixing shit anyway so SCORE! worth it.
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