Hi all, I'm currently an IT tech with a steady job and decent salary/benefits. I also do some side gigs that bring in alright money. I'm getting the itch for a bit of variety and challenge.
I see a local 2 bay auto shop that is up for sale that has been around for ~30 years that I'm evaluating the possibility of purchasing. I'm a hobby mechanic and always work on my own stuff, but I would in no way consider myself an ASE-caliber tech. But I do very much like auto tech and believe I have above average business mind.
My thinking is could I buy the place and then hire a very good quality tech to run the shop? I'd put in a lot of hours as well working the front desk, managing inventory, maybe sell specialty 4x4 tires, and perhaps even sell some cars on the lot. But I would by no means be there full time.
Would a 50% cut of the billable hours and a smaller cut of parts sold be enough to entice a top tier tech, that is also personable enough to be able to man the entire shop at times? I know I'd need a top honest guy to pull this off, and want to be able to offer good money.
My 50% cut of the tech's billable hours would go towards the building lease and pay off loan for purchase of the shop. I wouldn't stand to make a ton of money, mostly off of accessories and such, but I wouldn't be putting in a ton of time either. I'd keep my primary job for a while until business was stable and once I left my primary job would continue to do as much side IT gigs as possible.
Does this sound workable?