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New Shop and financing

Comatose

Titanium
Joined
Feb 25, 2005
Location
Akron, OH
On top of all of that, I have to assume that your reason to want to go into business making ARs is because you're way into ARs. That's fine. But the very fastest way to STOP being way into ARs is to make it your business. Even if you're super successful with it, after another 12 hours on Saturday making, packing, shipping, ordering stock for, doing customer support for and getting new ideas for ARs, the last thing you're going to want to do on your free Sunday morning (before you go put in another 8 hours making ARs) is go to the range.

I assume this is why porn stars always look so bored, too, but maybe that is something else.
 

jackal

Titanium
Joined
May 4, 2006
Location
northwest ARK
I have a buddy that didn't have any collateral or assets, and went to a bank for a loan.
He financed the whole shebang.
Now sometimes, he goes for 5 weeks without a paycheck.
He gets a PO from a big company ( $40k)
Orders material, (bank pays for it).
When halfway thru, company pays 50%.
Bank takes out their part for equipment, pays his building rent, insurance, truck payment, welding supplies, tooling,any other expenses. There's very little left.
He was doing OK at first, now it's just him and a young kid that works for him.
He's doing 7 days a week, and keeps getting further behind.
He can't hire anyone, because he can't pay.
They have some machines not running, and can't afford to fix.
It's really tight and he is scared.
Not sure what will happen.
 

LOTT

Hot Rolled
Joined
Nov 28, 2016
I have a buddy that didn't have any collateral or assets, and went to a bank for a loan.
He financed the whole shebang.
Now sometimes, he goes for 5 weeks without a paycheck.
He gets a PO from a big company ( $40k)
Orders material, (bank pays for it).
When halfway thru, company pays 50%.
Bank takes out their part for equipment, pays his building rent, insurance, truck payment, welding supplies, tooling,any other expenses. There's very little left.
He was doing OK at first, now it's just him and a young kid that works for him.
He's doing 7 days a week, and keeps getting further behind.
He can't hire anyone, because he can't pay.
They have some machines not running, and can't afford to fix.
It's really tight and he is scared.
Not sure what will happen.
What kind of shop and work is it? You said welding, is it a fab shop?
 

jackal

Titanium
Joined
May 4, 2006
Location
northwest ARK
What kind of shop and work is it? You said welding, is it a fab shop?
He does assemblies and repair for the local foundries, companies that make batteries, furniture, test & assembly bases for oilfield .
Pretty much all job shop work.
 








 
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