800 Square Feet

Can you imagine, literally, a square foot....much less 800 of them.  At least a hoof is round, but a square foot??!!

Sorry, that sounded funnier in my head.  The one thing that is certain to me is that you can not work on a car in a 1 car garage...even a two car garage would be tuff to run a race shop from.  So, I was able to find an industrial space to lease, 800 square feet (about the size of a four car garage) at a good price.  It's part of a larger complex with about 150 other units and businesses (mostly construction contractors).  It's all warehouse space except for an extremely small office and an even smaller restroom...perfect for a race shop.

While the lease rate is good, there are a few hidden fees that you want to watch out for when leasing a commercial warehouse.  The first are Common Area Maintenance fees (CAM fees).  This added an additional $0.08 per square foot to the $0.75 of the lease.  Plus, you will also need to get the appropriate Liability insurance.  This adds another $0.07 per square foot.  All part of the budget...which I am getting closer to posting on.

Race Shop Floor Plan

Before I get started with filling the space, there are two things I wanted to do.  (1) Draw out a floor plan, and (2) Epoxy coat the floor.  I am in the process of epoxy coating the floor, so expect a fun filled posting on my adventures with that.  The floor plan is done, see above.

Like a budget, this is just a plan and not set in stone.  There are a lot of metal cabinets for storage and a few workbenches for working on smaller projects.  The large tool box is the Pit Box (I couldn't find a better sample to use for a Pit Box).  There is a tire rack, hoist, plenty of storage, press, metal brake, welder, and all of the other tools needed.  There is also a TV for playing races on from a laptop or AppleTV.  I am still not sure what to do with the office space, so I just stuck a couch and TV in there (for those late nights when you just need to relax and take a quick nap).  The trailer and truck for towing are stored at a friends business, whom has a large fenced area.

So, that's the shop....or soon will be.  Stay tuned for the blogs on budgets and turning the shop into reality.

0,0,0,1

Well, if the first post was the origin (0,0,0,0), then this one is 0,0,0,1...movement in time, but still just an introduction.

Before one gets started in such a project, there are two topics that should be defined, (1) Purpose/Scope, and (2) Budget.  Budget, we don't need no stink'n budget!!  However, take it from a glorified accountant by day, budgets are pain and just a best guess, but important.  Having said that, I am a ways into this endeavor and still have not created a budget.  Which brings us to my first two mistakes, not heeding the advice of others to create a budget and not creating a budget.

So let's discuss scope for now, and we'll come back to the budget once I can sit down and create one.  The scope...hmm, well, at the very least it could be to have fun and scratch that very old itch.  On the other side of that spectrum is to become the next Jimmie Johnson or Rick Hendrick, which is safe to say won't happen (except perhaps while I am sleeping or zoned out in traffic).  So, realistically, how far can this go?  Can it replace my job and become a full time driver/owner??  Can it subsidize my income??  Can it pay for itself, or simply be an expensive hobby and past time??

I am also considering two phases to this venture, one as an owner/driver and another as simply an owner/manager.  As an owner/driver, I doubt it will go much further than having fun at the local tracks, learning the business, and perhaps it can get to a point to where it pays for itself.  As a team owner/manager (in several years), I would like to see it get to a point to where it can supplement or replace my current source of income.  To do that, it will need to be approached as a business from the start, which means a budget and a business plan.  I will also need to be aiming at the national level series, such as the World of Outlaw Late Model series or any of the other great national race series out there...perhaps even switching to pavement.

That is the long term direction of this adventure.  Over the next few months, I will attempt to get everyone up to speed on my current position, and I still need to develop a 1-3 year budget and business plan to go along with it.

Until next time....