Do you know what one of the most expensive assets is that most of us all own? In fact, some of us might even own two or three of these! Yep, it’s your car! Not only does your car depreciate in value as you rack up the miles each year, but it also costs you money in insurance, gas, and regular maintenance!
I always dread taking my car to the shop, because I know that whatever the problem is, it’s going to cost me at least two hundred bucks before I can get it back on the road. Sometimes, the costs could be even higher because the part that needs repair is very difficult to get to, which means that I’m going to pay a ton of money in labor.
If you are handy when it comes to cars and you do all of your own maintenance and repairs, I bet you could earn a pretty hefty side income of at least a grand per month.
Your New Garage Business
If you are handy when it comes to fixing cars, I assume that you’re already helping out your friends with their vehicles when they need repairs. While I’m not telling you to start charging your friends for the work that you do on their vehicles, I am suggesting that you tell them you are willing to repair their friends’ cars at a fraction of the price of the regular repair shops.
Do you know what the typical hourly labor fee is at most businesses? It’s $75 an hour! If you are confident with your skills, I’d say that you could undercut the regular competition by $35, and you’d still be earning $40 an hour for your services. Plus, you get to work on cars, which is what you love to do anyway!
If you could drum up just 25 hours of work each month (that’s probably 6 or 7 repair jobs), you’d quickly earn yourself $1,000 of extra cash!
The Key to Keeping Your Business Rolling
As you may have guessed, being a mechanic is not all about just fixing cars. You’ll have to promote yourself a bit (perhaps with some business cards or a simple website), and you’ll have to communicate well with your customers. Even an amazing mechanic needs to be able to tell the customer what’s going on with their vehicle, give a close estimate of the repair bill, and have an overall courteous nature.
On top of the “list of things you need to be”, you most definitely have to be an amazing mechanic. Your repairs are going to have to last many years and cost only a fraction of the price of the competition. If you can do this, I guarantee you that business will be booming in your near future.
Good luck to you and your new venture.
Do you think you’ll start earning a grand per month in your garage?