The Iconic BMW HQ

I’ve had a dream for a while now: a little business of my own. Ideally, in my little dream world, it’s a BMW restoration shop. There are many pitfalls to having a business (especially an automotive business). However, it’s something that’s mine. (All mine!) There’s a lot to be said for ownership. So I’ve been methodically setting it up, frugally self-funding as I go. Every little bit counts.

A few of the cons:

  1. The tools for dealing with expensive cars are hilariously far out of my reach. I’ll have to start at the bottom of the ladder.
  2. Cars are space-intensive and require continual upkeep. They also tie up large amounts of money capital.
  3. Many servicing requirements deal with toxic materials. They’re poisonous and don’t mix with children nor residential neighborhoods.

There are many pros.

  1. Building something from scratch that I can share with my kids.
  2. I typically have one or two surplus cars available for transportation or loan.
  3. It’s frugal: salvaging & recycling are very high on my philosophical agenda. So is pre-cycling.
  4. It’s a wonderful hobby. It mixes troubleshooting, planning, problem-solving, and requires (a little) physical & mental toughness. Like many other worthwhile disciplines, you’re essentially forging your mind into a tool. Maintain it well!
  5. A worthwhile focus on income rather than spending. I’m buying fully depreciated cars at the bottom of their value cycle.
  6. I just like interesting machines. I’m not opposed to a little two-wheeled fun either. Basic tools & techniques are the same for most cars.
  7. Financial incentives. I just like selling stuff to people that need it. Making money the honest way is hard, but so very rewarding. I can also save a little on maintaining my own vehicles, and a deducting legitimate business expenses off my taxes is never a bad thing.