First of all you are not big enough to worry about the economy.
Small shops can easily run between the "rain drops."
I do not advise taking a loan to expand! They're hard to pay back. Also if you don't get a loan you will be scrambling to get your work done so you can get paid. It will take about two years to get in the swing of things.
Many companies get "seed" money to get going. So they feel comfortable because they have a big cushion. They fool around with the money until they realize they're running out before they're profitable.
I do advise working your magic in negotiating a space to move into. Maybe with another machinist.
No matter what don't go into a partnership. If you find a machinist "friend" to hook up with, I recommend that. MAKE an agreement! Write everything you can think of down and both of you agree to it. That will be your map of how to run your two separate shops, so you don't get in each other's hair. You need a compatriate who is in business too. Because you both can talk over ideas. Employees are absolutly not good for that. They get paid by the hour. You don't! You get paid getting the job done.
You are your salesman. Anytime is fair game to sell what you do! You will succeed if you tell them what you are going to do for them, and then DO it.
You need to figure out a way to get them to call your shop instead of the other guy's.
Just make the customer's job (what they do) easy, when it comes to what you do for them.
Always collect your money from them when it's due. Always pay attantion to that! Don't need to be mean, just persistent.
Regards,
Stan-
