Starting new business
Posted March 08, 2011 - 08:34 PM
Posted March 08, 2011 - 08:53 PM
I am gonna try to start a tractor restoring business. I see a lot of guys buy these tractors and part them out, I honestly think it is a little sad. So, to try and help the situation I am going to buy up these old broke tractors fix em up and sell them. Try to show people how these old tractors are so much better than what they are making these days. If anyone has any suggestions or knows where to get a lot of old tractors in the Michigan area, let me know. Thanks.
I think it is a great idea but I honestly think you will have a hard time making any profit. I think you might be better off advertising restoration services for those that want to restore their tractors but might not have the means to. The people that part tractors out are not bad guys, if it wasn't for them we wouldn't be able to get parts to fix the ones we have.
- FirefyterEmt said thank you
Posted March 08, 2011 - 09:10 PM
Posted March 08, 2011 - 09:16 PM
Posted March 08, 2011 - 09:29 PM
Posted March 08, 2011 - 09:31 PM
Posted March 08, 2011 - 09:54 PM
Posted March 08, 2011 - 10:01 PM
I know of one school that raffles a restored corvette every year. They do well at it.
Posted March 08, 2011 - 10:36 PM
I have to agree with the above...just no money to be made. Now if you win a major lottery, then it'd be something to do!
Posted March 08, 2011 - 10:38 PM
I do get tired of seeing all "parts sellers" made out to be bad guys. Imagine if everyone who needed one part, had to buy the whole tractor.... Many more would be parted out, and there would be a lot more in waste.
Also, I echo the others.... the need is there, but the market is a dirt cheap floor to work off of.
- Texas Deere and Horse said thank you
Posted March 09, 2011 - 04:12 AM
Thought number one. The time involved to do a restoration was something I was not prepared for. You must realize that guys who do restos are prepared to spend years if needed to attain what they want.
Thought number two. If you advertise a tractor as RESTORED, unless it is right, buyers will tear you apart on details. everything from an incorrect bolt or fastener to a tiny speck of rust or grime around a bolt head.
Thought number three, see thought number one.
Thought number four. You will need to maintain a large stock of donor tractors to obtain the required correct parts.
Thought number five, see thought number one.
Thought number six. As an alternative, explore something that I and others have found. When you find a tractor, do the same thing that a restorer will do when they find one. Pick it apart. See if any major things have been changed. This will make your job easier in the long run, but the seller will recognize that you know what you are looking for, and the price should agree with that.
Once you have acquired this "jewel", Don't make any changes. See if you can get the engine running, or at least freed up and turning over. Restorers will respect an engine that will turn over, more than the "rebuilt engine story" unless the story is backed up with all the paperwork for a proper rebuild. Remove all after market items, weird seats, strange headlights, etc, any thing that will stand out in a picture ad that will tell the buyer that the changes may run a lot deeper than that. Don't paint, sandblast, or primer anything. Use only penetrating oil, lubricating oil, and grease. If you attract a serious buyer to your place, and he can start, drive, or at least give the machine a good looking over, they will be impressed, if not by the condition of the machine, but by your honesty.
Give the customer what they want, a solid, un-modified original as possible machine, reasonably cleaned up and freed up so inspection can proceed easily. You can command a good selling price in this way. This is where your stock of donor machines comes in handy. If your machine is missing a part or two, offer to throw in an part or two off a donor machine.
Didn't mean to run off at the mouth here, but you can realize a little profit here, while providing a good service to the hobby. You will meet some of the greatest people in the world. And, this can turn into a good Hobby in itself.
By all means, follow your dreams, for a man who does not dream is lost. Just be informed and do your homework.
Just the thoughts of an old man, and my opinions only.
Best regards, George
- Bolens 1000 and Texas Deere and Horse have said thanks
Posted March 09, 2011 - 06:09 AM
- Texas Deere and Horse said thank you
Posted March 09, 2011 - 03:15 PM
But if your good with your hands and want to do it, there is a niche where you just might make some money.
It seems most people, even many in the city making big money(Expendable income) long for their days on the farm growing up or riding with Grampa on the tractor in the 50's & 60's.
Something of a fad market is going with small to medium size farm tractors and their being shipped to metro areas for collections. Many Retired Farmers are also collecting.
Our Local Radio Station WHO sponsors two Tractor Rides each year.
Where the collectors meet and ride their tractors within a days ride of a central point for a full week.
Funny thing is there are always more wanting to ride than the organizers can accomodate.
If I was not working full time, I'd love to get an Avery model A(like I drove when 14) and go along myself.
Selling to those who have not got the ability or facility to restore , just might be the way to go.
Posted March 09, 2011 - 03:27 PM
Very well said George
George, That the best advice anyone could have offered here, Well done..
Posted March 09, 2011 - 04:44 PM
I have noticed around large supermarkets at different times of the year, some promotions that involve garden tractors and "farm looking" wagons. Halloween, fall harvest etc. Guys wanting something to drive in local parades, maybe pulling a "train" of cut out barrels loaded with kids. Like you said, lot of people around cities, with little time and some cash to spare who would like a parade or attention getter.
MIDDLEAGEDEERE, If you want to restore, and have the patience to do such work, I certainly applaud you. And I will add that we here at GTTALK stand ready to help you with any advice or research you need. I think all the guys responding here gave very honest opinions gained from no little experience.
As for your question about where to find GTs, simply scour the countryside. Take long Sunday drives with the Missus through the back roads. She will think you are just being nice, when all the time, in your devious mind you are on the hunt. You can even stop at some small Mom and Pop restaurant for dinner or supper just to add icing to the cake. Always keep a good digital camera near at hand, and take notes of addresses, landmarks etc. Don't be afraid to talk to people. always ask about guys who work on mowers in their garage, or barn, or even "shade trees", as a lot of these guys have large stocks of old iron out back. Don't be too concerned about buying off Craigs, or Evil Bay, most of these people are trying to make money too. I am not an expert, or a successful business man, so all of this is some things I have noticed. If you want to talk further about the Art of Scrounging, simply PM me and I will be happy to expound on the George Method of finding junk.
Best regards and good hunting, George.