Classic Car Storage, how do you feel?
02-05-2013, 03:34 PM
#21
Team Owner
Rental rates
$ 35 per hour
$ 240 per day (8 hour work day)
Long term & short term plans available
$ 35 per hour
$ 240 per day (8 hour work day)
Long term & short term plans available
So this guy wants $7,200 per month to work on your car, good luck with that.
I would buy into a Garage Condo before I laid out that kind of scrach.
02-05-2013, 03:36 PM
#22
Team Owner
02-05-2013, 03:53 PM
#23
http://automotorplex.com/
02-05-2013, 04:38 PM
#24
Team Owner
This comes under the heading of, "....lifestyles of the rich and idiotic".
02-05-2013, 05:30 PM
#25
Racer
Garage Town
I purchased two of these. You can look them up on the internet. http://garagetownaz.com/ They are basically a storage unit with a security system. The place is gated and each unit is monitored individually. I needed the room. These people finished right before everything went to hell in 2008. They survived but the prices fell. They also store motor homes boats etc. They have restrooms and a shower. I added AC to mine and will put in a mezzanine. These are around 100 bucks a square foot. You do pay an HOA fee so they keep the place looking good. I think they have franchise opportunities. 
02-05-2013, 06:23 PM
#26
Racer
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Guys,
Thanks for the great info. My idea is not so much of the condo complex or the "shop for rent". I am thinking more of a very nice, secure, place where one could keep his car and feel comfortable. It would be accessible when the owner needs to remove, return or detail his/her car. I would not allow any serious mechanical work to be done.
The facilities currently in business near my house all seem to use the place to also host corporate events and even weddings. I don't know about you but I don't want drunken strangers anywhere near by car.
I am a full time police officer and am looking for something on the side to keep me busy.
A secure facility is #1 on my list. I am wondering how "Fancy" or "Impressive" the facility needs to be from the outside. My idea is actually to keep it very covert and on a need to know basis.
Other facilities near my home charge upwards of $500 per month per car. I am basing my business model on half that amount.
Would trickle chargers and detailing supplies included seem like a good selling point?
Any more ideas?
Tom
Thanks for the great info. My idea is not so much of the condo complex or the "shop for rent". I am thinking more of a very nice, secure, place where one could keep his car and feel comfortable. It would be accessible when the owner needs to remove, return or detail his/her car. I would not allow any serious mechanical work to be done.
The facilities currently in business near my house all seem to use the place to also host corporate events and even weddings. I don't know about you but I don't want drunken strangers anywhere near by car.
I am a full time police officer and am looking for something on the side to keep me busy.
A secure facility is #1 on my list. I am wondering how "Fancy" or "Impressive" the facility needs to be from the outside. My idea is actually to keep it very covert and on a need to know basis.
Other facilities near my home charge upwards of $500 per month per car. I am basing my business model on half that amount.
Would trickle chargers and detailing supplies included seem like a good selling point?
Any more ideas?
Tom
02-05-2013, 06:29 PM
#27
Team Owner
Thought so ! Only an LEO would have a forum moniker like yours
I'm thinking a setup more along the lines of the "Big Toy Storage" facility I posted a link to above. Storing boats, RVs, jet skis, ATVs in addition to classic cars gives you a much broader market on which to base a biz. I don't think stocking cleaning/detailing supplies is wise. I have my own products I swear by and use to the exclusion of all others and most car owners do as well...
I'm thinking a setup more along the lines of the "Big Toy Storage" facility I posted a link to above. Storing boats, RVs, jet skis, ATVs in addition to classic cars gives you a much broader market on which to base a biz. I don't think stocking cleaning/detailing supplies is wise. I have my own products I swear by and use to the exclusion of all others and most car owners do as well...
02-05-2013, 06:36 PM
#28
Melting Slicks
Member Since: May 2001
Location: Mint Hill North Carolina
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2023 C2 of the Year Finalist - Unmodified
2022 C2 of the Year Finalist - Unmodified
I looked into this idea a few years ago and seem to remember seeing a firm that was established and offered franchise opportunities. Don't remember who it was, but you might google the idea. Would seem to mitigate some of the how do I do it, what do I charge, what are the set up fees, etc. Working with someone that you could go see their operation and learn from their experience might be worth looking into. Good luck!
Panama58
Panama58
02-06-2013, 01:09 AM
#30
His wife wanted to live in a normal home in a normal neighborhood, meaning one of the typical South Florida developments, which doesn't allow second detached garages, trucks and trailers in the backyard, etc.
His solution was to build two houses next to each other. One house was theirs with a standard 3 car garage. The other "house" was a shell, with the garage the entrance into the shell. The truck, trailer, and all the toys fit inside the second "house".
Must be nice to be rich.
02-10-2013, 02:04 AM
#31
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Investigator, I have been looking at almost the same type setup near my home. I am also a full time LEO and Im looking at retiring in a few months.
The next town over, a gentleman who bought a former grocery store had it converted to a nice little car museum. One floor, all open, filled with his own cars. Kinda "Rte 66" looking. I didnt care for his business plan, as I went in there once to look and he insisted on following me around... I said I didnt need a chaperone... and he said he had a million dollars in cars there and "couldnt" leave someone alone. So, I left.
Anyway, he passed away a few years ago and the place has been sitting empty. Its just begging for cars to fill it up. My initial idea was to buy it and put my cars in, rent storage to some classic car people, put cars I bought for sale in it and offer consignment space to people. It would double as a car "museum" and people could pay a couple bucks to walk around.
Of course, my trips to shows and auctions, that I go to anyway, would be writeoffs.
As I researched, each facet seems less attractive. I would need a dealer's license, which was $1000 a year, needed to be open certain hours, be available for inspections, higher insurance & requirements, etc etc. Didnt seem worth it.
The museum part seemed to require set hours and watching people too. For a few dollars a day.
So I thought, maybe just storage, all in an open floor plan. People could put For Sale signs on if they wanted. But, insurance, RE taxes, utilities, etc just seemed to be a retirement money bleed. And, even though the sellers hadnt sold in 3 years, they didnt seem very interested in being lowballed.
So the place sits empty and drives me nuts, but a business model doesnt exist that makes me comfortable. Was hoping your thread would help!
The next town over, a gentleman who bought a former grocery store had it converted to a nice little car museum. One floor, all open, filled with his own cars. Kinda "Rte 66" looking. I didnt care for his business plan, as I went in there once to look and he insisted on following me around... I said I didnt need a chaperone... and he said he had a million dollars in cars there and "couldnt" leave someone alone. So, I left.
Anyway, he passed away a few years ago and the place has been sitting empty. Its just begging for cars to fill it up. My initial idea was to buy it and put my cars in, rent storage to some classic car people, put cars I bought for sale in it and offer consignment space to people. It would double as a car "museum" and people could pay a couple bucks to walk around.
Of course, my trips to shows and auctions, that I go to anyway, would be writeoffs.
As I researched, each facet seems less attractive. I would need a dealer's license, which was $1000 a year, needed to be open certain hours, be available for inspections, higher insurance & requirements, etc etc. Didnt seem worth it.
The museum part seemed to require set hours and watching people too. For a few dollars a day.
So I thought, maybe just storage, all in an open floor plan. People could put For Sale signs on if they wanted. But, insurance, RE taxes, utilities, etc just seemed to be a retirement money bleed. And, even though the sellers hadnt sold in 3 years, they didnt seem very interested in being lowballed.
So the place sits empty and drives me nuts, but a business model doesnt exist that makes me comfortable. Was hoping your thread would help!
02-10-2013, 03:04 PM
#32
Race Director
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St. Jude Donor '07
open storage would not appeal to me, too much potential for accidental damage.
if you didn't wanted to stucturally partition the interior, it could be divided up into stalls by using floor-to-ceiling chain link fence.
Bill
if you didn't wanted to stucturally partition the interior, it could be divided up into stalls by using floor-to-ceiling chain link fence.
Bill
02-10-2013, 04:55 PM
#33
Team Owner
Investigator, I have been looking at almost the same type setup near my home. I am also a full time LEO and Im looking at retiring in a few months.
The next town over, a gentleman who bought a former grocery store had it converted to a nice little car museum. One floor, all open, filled with his own cars. Kinda "Rte 66" looking. I didnt care for his business plan, as I went in there once to look and he insisted on following me around... I said I didnt need a chaperone... and he said he had a million dollars in cars there and "couldnt" leave someone alone. So, I left.
Anyway, he passed away a few years ago and the place has been sitting empty. Its just begging for cars to fill it up. My initial idea was to buy it and put my cars in, rent storage to some classic car people, put cars I bought for sale in it and offer consignment space to people. It would double as a car "museum" and people could pay a couple bucks to walk around.
Of course, my trips to shows and auctions, that I go to anyway, would be writeoffs.
As I researched, each facet seems less attractive. I would need a dealer's license, which was $1000 a year, needed to be open certain hours, be available for inspections, higher insurance & requirements, etc etc. Didnt seem worth it.
The museum part seemed to require set hours and watching people too. For a few dollars a day.
So I thought, maybe just storage, all in an open floor plan. People could put For Sale signs on if they wanted. But, insurance, RE taxes, utilities, etc just seemed to be a retirement money bleed. And, even though the sellers hadnt sold in 3 years, they didnt seem very interested in being lowballed.
So the place sits empty and drives me nuts, but a business model doesnt exist that makes me comfortable. Was hoping your thread would help!
The next town over, a gentleman who bought a former grocery store had it converted to a nice little car museum. One floor, all open, filled with his own cars. Kinda "Rte 66" looking. I didnt care for his business plan, as I went in there once to look and he insisted on following me around... I said I didnt need a chaperone... and he said he had a million dollars in cars there and "couldnt" leave someone alone. So, I left.
Anyway, he passed away a few years ago and the place has been sitting empty. Its just begging for cars to fill it up. My initial idea was to buy it and put my cars in, rent storage to some classic car people, put cars I bought for sale in it and offer consignment space to people. It would double as a car "museum" and people could pay a couple bucks to walk around.
Of course, my trips to shows and auctions, that I go to anyway, would be writeoffs.
As I researched, each facet seems less attractive. I would need a dealer's license, which was $1000 a year, needed to be open certain hours, be available for inspections, higher insurance & requirements, etc etc. Didnt seem worth it.
The museum part seemed to require set hours and watching people too. For a few dollars a day.
So I thought, maybe just storage, all in an open floor plan. People could put For Sale signs on if they wanted. But, insurance, RE taxes, utilities, etc just seemed to be a retirement money bleed. And, even though the sellers hadnt sold in 3 years, they didnt seem very interested in being lowballed.
So the place sits empty and drives me nuts, but a business model doesnt exist that makes me comfortable. Was hoping your thread would help!
This sounds close to what this local couple do in their Mt. Dora, FL car museum/sales floor. It's small museum as one aspect....with medium nice-to-rare cars tightly packed in the floor space...which includes muscle car posters, old gas pumps, true museum pieces (like an old Hearse) that never leave the place. There are vignettes in some areas like staging a repair shop scene. Many of the cars (possibly all) are for sale including some on consignment from owners. There is a fee to get in to do the tour and the owner sort of 'drops by' just to see if you have questions about the cars or are a potential buyer; otherwise there is video surveillance full-time.
The car prices are like 15%-20% too high IMO but he has had some VERY nice cars there that eventually sold - like a 1965 R-model Shelby Mustang and a '67 BB Corvette Coupe. The owner is quite selective about the cars he picks up to resell and they usually have a decent pedigree or some other rare aspect or unique quality. There is a tiny gift shop at the museum entrance that probably generates some of
the revenue for the place. It's a low-pressure setup and you can spend a nice afternoon just browsing around the cars.
I don't know how the numbers work and don't think the guy is getting rich but the business seems stable and he has been there for a while now (23 years) in quite a small town:
http://www.classicdreamcars.com/
You can click on the "Anthology" hubcap icon for a history of the place and a look inside the showroom. Kind of an eclectic mix of business interests in one package but it has apparently worked going in to its 3rd decade.
The owner seemed a decent guy and would probably share some advice and what pitfalls to avoid if somebody reached out to him I bet.
Last edited by Frankie the Fink; 02-10-2013 at 05:21 PM.
02-10-2013, 10:11 PM
#35
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Bearing all my previous posts in mind...here are some editorial comments on your thoughts:
This sounds close to what this local couple do in their Mt. Dora, FL car museum/sales floor. It's small museum as one aspect....with medium nice-to-rare cars tightly packed in the floor space...which includes muscle car posters, old gas pumps, true museum pieces (like an old Hearse) that never leave the place. There are vignettes in some areas like staging a repair shop scene. Many of the cars (possibly all) are for sale including some on consignment from owners. There is a fee to get in to do the tour and the owner sort of 'drops by' just to see if you have questions about the cars or are a potential buyer; otherwise there is video surveillance full-time.
The car prices are like 15%-20% too high IMO but he has had some VERY nice cars there that eventually sold - like a 1965 R-model Shelby Mustang and a '67 BB Corvette Coupe. The owner is quite selective about the cars he picks up to resell and they usually have a decent pedigree or some other rare aspect or unique quality. There is a tiny gift shop at the museum entrance that probably generates some of
the revenue for the place. It's a low-pressure setup and you can spend a nice afternoon just browsing around the cars.
I don't know how the numbers work and don't think the guy is getting rich but the business seems stable and he has been there for a while now (23 years) in quite a small town:
http://www.classicdreamcars.com/
You can click on the "Anthology" hubcap icon for a history of the place and a look inside the showroom. Kind of an eclectic mix of business interests in one package but it has apparently worked going in to its 3rd decade.
The owner seemed a decent guy and would probably share some advice and what pitfalls to avoid if somebody reached out to him I bet.
This sounds close to what this local couple do in their Mt. Dora, FL car museum/sales floor. It's small museum as one aspect....with medium nice-to-rare cars tightly packed in the floor space...which includes muscle car posters, old gas pumps, true museum pieces (like an old Hearse) that never leave the place. There are vignettes in some areas like staging a repair shop scene. Many of the cars (possibly all) are for sale including some on consignment from owners. There is a fee to get in to do the tour and the owner sort of 'drops by' just to see if you have questions about the cars or are a potential buyer; otherwise there is video surveillance full-time.
The car prices are like 15%-20% too high IMO but he has had some VERY nice cars there that eventually sold - like a 1965 R-model Shelby Mustang and a '67 BB Corvette Coupe. The owner is quite selective about the cars he picks up to resell and they usually have a decent pedigree or some other rare aspect or unique quality. There is a tiny gift shop at the museum entrance that probably generates some of
the revenue for the place. It's a low-pressure setup and you can spend a nice afternoon just browsing around the cars.
I don't know how the numbers work and don't think the guy is getting rich but the business seems stable and he has been there for a while now (23 years) in quite a small town:
http://www.classicdreamcars.com/
You can click on the "Anthology" hubcap icon for a history of the place and a look inside the showroom. Kind of an eclectic mix of business interests in one package but it has apparently worked going in to its 3rd decade.
The owner seemed a decent guy and would probably share some advice and what pitfalls to avoid if somebody reached out to him I bet.
$10 + tax for tours. I see they close for shows and auctions and recommend appointments for sales, thats what I would do.
I would have to build inventory/consignments before it was "tour worthy."
My experience has been that many people putting classics on consignment are actually putting them in storage and tagging them with a too-high price intentionally. I'd have to treat all consignments as storage rentals until they sold, I think.
There would have to be a zoning change here to make sales first. Hate to get caught in a trick bag there. I'd also like to shop for cheaper insurance rates... requiring consignors/storage cars to maintain their own insurance would be a big deal. I think rates could come down nicely in that event too.
Love to get these sellers to get nervous about not selling for 3 years.
02-10-2013, 11:47 PM
#36
A fellow old car friend of mine did this a few years ago, but not "high end". He bought a 75 year old building, and can store about 100 cars in it. He doesn't need to advertise; its all word of mouth. He doesn't allow any work to be done in it either. Its always full, but, he'll take on furniture storage to help fill the spots. He doesn't seem to be having any problems with it.
02-11-2013, 08:04 AM
#37
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St. Jude Donor '14-'15-'16-'17-'18-'19-'20-'21-'22-'23-'24
02-11-2013, 08:01 PM
#38
Drifting
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Sorry, I don't have a link to it. Saw it 6-9 months ago. Car Condos, located in Rogers, Minnesota. Pretty great looking. You buy the units and it looked like they were customized by the Condo owner. That would address some of the concerns about lifts, guys doing maintenance work, body off restorations. It's your unit, owner does with it what they want. Fun idea if you get past all the liability and legal risks. Great little retirement project.
Kevin
Kevin
02-11-2013, 08:31 PM
#39
Team Owner
Like I said in the beginning - it's all about the business plan. And one balanced against the risk factor of sinking possibly irrecoverable retirement funds into the venture.
If you want to make a small fortune in one of these deals without all the analysis - then start with a large fortune...
If you want to make a small fortune in one of these deals without all the analysis - then start with a large fortune...
