Guys, I'd like your ideas and feedback on opening a collector car facility

[StylishOne 4]

Since I've always loved cars, I'm thinking of opening a car place in a boating resort area. Wondering what type of venue car guys, collectors, gearheads, hobbyists, etc. would actually go to see/visit??

Yes, the thought of cruise nites, a car-club meeting place with maybe coffee, consignment sales, old car storage, automobilia, perhaps some repairs, a small Auto Museum. Or? 

What types of services, or merchandise offerings would you guys really enjoy going to? I'm thinking of a place to bond, hang out, show cars, restoration work, share info.

Your thoughts and feedback? 

[tom_in_nh 10]

Do not make it a clubhouse for the rich.

[trimacar 1,559]

It's been done, research and see if it's a success, or better yet contact owners and go visit.

 

Hawks Hill Car Community, Lenoir, NC

[Roger Frazee 144]

How about a garage condominium complex, where owner can store their cars, work on them, bond with their neighbors and customize their garages.

[8E45E 247]

1 hour ago, Roger Frazee said:

How about a garage condominium complex, where owner can store their cars, work on them, bond with their neighbors and customize their garages.

In addition to the above, provided there is enough land available, a private roadcourse with picturesque settings, not unlike a manufacturer's proving ground where one will be able to drive their Model T's, etc., without the fear of being run over by a semi going 80 mph.

 

**Edit:  The M1 Concourse in Pontiac as stated two posts below is the layout/concept I had in mind.  Thank you.

 

Craig

Edited January 7 by 8E45E (see edit history)

[West Peterson 332]

1 hour ago, tom_in_nh said:

Do not make it a clubhouse for the rich.

 

????????

[ron hausmann 187]

Stylishone -

The M1 Concourse in Pontiac Michigan is a secure car community of 240 car-condominiums in Pontiac Michigan, interspersed around a 1.5 mile race track. You should google it. I suggest you contact the ownership there if you are srperiously considering a car condominium type effort. They sold out very fast and original owners have condominiums that turned into excellent investments as well. This complex is open to all car enthusiasts so we have Lamborghini’s, Corvettes, Porches, Kissels, Studebakers, Harley’s, hot rods and anything car around. The track is regulated for running like cars at a time - my Kissels can’t quite keep up with the Lamborghini s.

Thanks, Ron Hausmann P.E.

[Trulyvintage 106]

2 hours ago, StylishOne said:

Since I've always loved cars, I'm thinking of opening a car place in a boating resort area. Wondering what type of venue car guys, collectors, gearheads, hobbyists, etc. would actually go to see/visit??

Yes, the thought of cruise nites, a car-club meeting place with maybe coffee, consignment sales, old car storage, automobilia, perhaps some repairs, a small Auto Museum. Or? 

What types of services, or merchandise offerings would you guys really enjoy going to? I'm thinking of a place to bond, hang out, show cars, restoration work, share info.

Your thoughts and feedback? 

 

 

Do you need a tax a tax shelter or a write off ?

 

Great idea if you want to lose money real fast ......

 

Museum attendance for all venues has been steadily declining for years.

 

Jim

[auburnseeker 1,457]

3 minutes ago, Trulyvintage said:

 

 

Do you need a tax a tax shelter or a write off ?

 

Great idea if you want to lose money real fast ......

 

Museum attendance for all venues has been steadily declining for years.

 

Jim

Though, it's more like storage units which are going up everywhere and seem to be profitable as the owners keep adding.  My friend started with 40 units and now has a couple hundred with another new set going in this year. 

[Roger Walling 271]

 If you are planning to operate it during the winter months, you could offer low cost winter storage for your "museum".

 You will get a lot of cars, but maybe not too many paying customers to view them. 

Paid weekend indoor cruse in's with a snack bar could work?

[Grizz 9]

I think it’s safe to say that antique car people are also history people. History people, not historic people. 😂 maybe incorporating local history? If it’s by a body of water that history is always interesting. For example here in  Middle Tennessee alot of the lakes were man made. When the water is low enough some old housing foundations start to emerge. GOOD FOOD. If your main attractions are weak you can beef them up with delicious food. Oh and if you really want to bring people in, CHEAP BEER! But sometimes this can attract the wrong crowd. Just throwing ideas around, what about a spot where you can have your car “graded” and appraised  like they do at car shows. I can see that going wrong though. “I paid $50,000 for this car!!! Your trying to say it’s only worth $15,000?!” Oh, oh! Maybe a vintage camp ground, where you can rent old airstreams and the like??

[1912Staver 387]

2 hours ago, ron hausmann said:

Stylishone -

The M1 Concourse in Pontiac Michigan is a secure car community of 240 car-condominiums in Pontiac Michigan, interspersed around a 1.5 mile race track. You should google it. I suggest you contact the ownership there if you are srperiously considering a car condominium type effort. They sold out very fast and original owners have condominiums that turned into excellent investments as well. This complex is open to all car enthusiasts so we have Lamborghini’s, Corvettes, Porches, Kissels, Studebakers, Harley’s, hot rods and anything car around. The track is regulated for running like cars at a time - my Kissels can’t quite keep up with the Lamborghini s.

Thanks, Ron Hausmann P.E.

 

A development like this is indeed the "gold standard" for car people of all stripes. They are also a truly massive capital investment. And as to be expected cater to a predominantly high end clientele. I am not sure what entry level pricing would be for one of the units however it is almost certainly well beyond the reach of many, if not most vintage car hobbyists.

 

Greg in Canada

 

Edited January 7 by 1912Staver (see edit history)

[joe_padavano 733]

4 hours ago, tom_in_nh said:

Do not make it a clubhouse for the rich.

 

Well, not unless you actually want to make a profit...

[John_S_in_Penna 1,536]

I can picture a development of houses for car collectors.

Since many such people are of retirement age, make the

houses smaller, on smaller lots for less maintenance;

but make them extraordinarily picturesque, better than

99% of the houses one typically sees.  Hire the best designer,

because attractiveness attracts.   Place the houses

together in a "traditional neighborhood" setting with

narrower streets, plenty of street trees, and front porches

that encourage neighborhood interaction.

 

Scatter some larger houses among the smaller ones,

keeping the same narrower foot-print of traditional design,

so the big houses look modest from the street.  A good

designer can make a large house look smaller and

picturesque, still fitting into its neighborhood.

 

Car storage buildings might be just a few, and shared,

but these should be of the same impeccable picturesque

design.

 

I don't know how viable the economics are, but if you

are in an area with plenty of car fans, there are probably

some people who would enjoy interacting with like-minded

hobbyists in this manner.  Market it through local car clubs.

[trimacar 1,559]

1 hour ago, Grizz said:

I think it’s safe to say that antique car people are also history people. History people, not historic people. 😂 maybe incorporating local history? If it’s by a body of water that history is always interesting. For example here in  Middle Tennessee alot of the lakes were man made. When the water is low enough some old housing foundations start to emerge. GOOD FOOD. If your main attractions are weak you can beef them up with delicious food. Oh and if you really want to bring people in, CHEAP BEER! But sometimes this can attract the wrong crowd. Just throwing ideas around, what about a spot where you can have your car “graded” and appraised  like they do at car shows. I can see that going wrong though. “I paid $50,000 for this car!!! Your trying to say it’s only worth $15,000?!” Oh, oh! Maybe a vintage camp ground, where you can rent old airstreams and the like?? 

 

Funny you should say that last comment....there's a woman not far from here with a farm and about 30 vintage trailers, the 1950/1960 two person small camper type.  A good friend of mine is doing some restoration work on the campers now, she plans to open a type of Bed and Breakfast, renting the trailers (in place) to people passing through.....

 

I like the idea of an old car community or subdivision, problem is it'd have to be built real close to my grandchildren for my wife to agree to live there!!

[Gary_Ash 150]

Just write a check for $500,000 or more and send it to me.  You'll wind up with the same pain at the end, but it will be over a lot quicker and with much less work.  😁

 

[Packin31 13]

Here are a few in the Chicago-land area. Way out of my price range thou

 

Iron gate motor condos

 

auto motor plex chicago

 

auto bahn country club

[60FlatTop 3,809]

It is probably a good idea to drop the word "museum" from your vocabulary today. Tying that to any business venture, profit or nonprofit, will open doors to regulations and restrictions that would amaze - and limit- you, severely.

 

You can be successful if you avoid the traditional business start up process. Have a solid vision in your head and cash in your pocket. All this business plan stuff is pure speculation and fantasy. All it does is lay out your idea for bank debt, first thing the SBA, coaches, and advisers will do is point you to the bank. Thousands of businesses fail every year because they follow "the process".

 

Business plan: "I know I can make money doing this. I have this much money. I will be smart enough to recognize I am not making money before I spend all I have." I said that to two counselors at the SBA in 2007 when I was looking for pointers. They said "Oh, most people want money. Good luck. We like your plan."    Still going.

 

Bernie

 

 

[joe_padavano 733]

4 hours ago, 60FlatTop said:

All this business plan stuff is pure speculation and fantasy. All it does is lay out your idea for bank debt, first thing the SBA, coaches, and advisers will do is point you to the bank. Thousands of businesses fail every year because they follow "the process".

 

 

Right.  Making it up as you go along is a MUCH better way to run a business... 🙄

 

Having run my own engineering business for eight years (until I sold the company), I can tell you that thousands of businesses fail every year because they don't pay attention to (or PLAN FOR) cash flow.  Trying to finance a business out of pocket (or bootstrap it) is a very well proven way to fail.

[1937hd45 694]

You stand to make a small fortune providing you start with a larger fortune. Bob 

[nick8086 324]

Here is one in MN.

 

http://www.automotorplex.com/

 

 

Edited January 8 by nick8086 (see edit history)

[Ed Luddy 57]

Does anyone know if there are any such places in Canada? Would likely be out of my price range, but I'd like to see one!

[John_S_in_Penna 1,536]

7 hours ago, Packin31 said:

Here are a few in the Chicago-land area.  Way out of my price range, though.

Iron gate motor condos

auto motor plex chicago

auto bahn country club

 

Those references were interesting to see.  Some observations:

I see, from the Iron Gates' pricing, that the car storage

is very expensive:  $250 to $350 per month PER CAR,

depending how often you want access to it.  (Go to their website

and click on their "Storage" tab.)  Those prices surely aren't

competitive with more typical garages, so they must cater to

people who don't mind spending money--and not even the most

well-off people are always so easy-spending.

 

The illustrations show predominantly high-end sports and exotic

cars--far more than antique cars.  Myself, I'd have much more

in common with fellow antique-car collectors, but they evidently

aren't there in great numbers.

Edited January 8 by John_S_in_Penna (see edit history)

[Hudsy Wudsy 255]

I've known countless guys over the years try to turn their beloved hobby into a business. The result is usually heartbreak and disillusionment. Under capitalization and market indifference are the two most common killers of dreams.

[nick8086 324]

Best use of your money is  to open an Alzheimer care facilities. and add a car storage unit next to it..

Edited January 8 by nick8086 (see edit history)