The vintage auto market is revving up right now with auctions for classic muscle cars and old luxurious vehicles generating millions of dollars in sales. Although some financial experts are labeling it as a bubble, it still has some legs to it and plenty of room to grow. Muscle cars are certainly thriving and creating an entirely separate auto culture right now.
With a classic car market booming to new heights, this also means fresh opportunities for auto shops across the country to bring in new customers and garner new sources of revenues.
It's an important question for any auto shop to ask: should we restore and repair classic cars? It's difficult to answer for any small- to medium-sized business because it does require a significant investment in regards to training staff, special tools and equipment, and additional infrastructure.
What the auto shop will need
By means of enhanced business funding, getting into the profits of muscle cars is a possibility for a lot of U.S.-based auto shops.
A majority of customers with these types of vehicles will likely necessitate work that consists of pulling the engine, which then requires a high-quality engine hoist or engine crane.
In addition, most of the muscle cars that will drive into the shop will regularly entail bodywork and a fresh coat of paint, another aspect that will prompt the business to acquire specialized equipment and to install a paint booth.
There are a wide variety of other tools that the auto shop would need to tap into this market:
- Air compression systems
- Custom painting supplies
- Metal-working kits
- Rust removers
- Sanding blocks
What else to consider
Most importantly, auto shop grease monkeys will have to be ASE certified mechanics or experts who are trained in auto restoration specialties. They must also be experienced in custom painting and adjustments. If it is difficult to find a mechanic with this type of background then an auto shop can always hire a restoration specialist to educate and train its current staff members.
Once the auto shop has become equipped for any type of repair and restoration for classic cars then kick it into high gear by advertising at auto shows for vintage automobiles or taking part in local events. Start getting to know the area to see if there are classic muscle car aficionados around and ask for referrals.In the end, consider the following suggestions when making a decision:
- Perform an audit of the auto shop and establish a budget
- Assess the current auto shop (inventory, tools, space, staff, etc.)
- Determine if the shop has the expertise and knowledge
Funding
Offering new products and services makes it possible for you to tap into a new customer base and enjoy increased profits. And while the ROI can be significant, undertaking such a venture can require a substantial amount of business funding. Quikstone Capital Solutions can provide your business with the cash needed to grow your business.
Learn more about the right invetments to make to increase auto shop sales and grow your business in this FREE investment guide. Click the image to download for free.
