Advice on purchasing a independant auto repair shop

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?
Thanks,
-Chad

It sounds like you have a good idea of what to do! My dad bought an old auto repair shop in Bremerton a few years ago because he was retired and wanted something to do with his time. His situation was a lot like yours actually. Anyway, he did what you said, bought it and hired a great mechanic. He has loved having it. Good luck! www.maxrpmmotorsports.com

Hi Chad, As you are an IT guy so you have all the information related to up and down of online purchasing. I would just like to add a webpage that I have found while online searching my engine parts for my Toyota Camry 2005, and found www.hiperformer.com online site contain thousand of auto parts with some offer that make me think them as a reliable source.

The idea is good but you need proper planning so that the idea is executed exactly the way you want it to be. I thing you must visit some of the auto shops brick and mortal one as well as online one, so that you can understand how they manage their work (inventory, sale and their workers). I own BMW car and I love it very much. I am very conscious about its maintenance, for any sort of suggestions related to auto parts or car maintenance I prefer to consider www.automotix.net/info.html , you can also have a look here and you will come to know about various aspects of auto shop business .