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Discussion Starter · #1 ·
I know some people can get angry when somebody takes an idea and tries to make a little cash. At the expense of another jeeper. Maybe from something they picked up at the junkyard etc, then rebuilt or fixed up. The way i see it if you take $120 in parts. Fix them up nice, repaint them and package them as a kit for a reasonable price of say $190-250 the person buying them is just paying for the convenience. No big deal there. Not everyone has the time or skill to do the work themselves.
Though i prefer to do my own work cause im, lets say thrifty. i.e. very $ challenged lol :)

Everyone has to make a living, if you could get through life by making things for jeeps would you? Or just some side money from some idea you got hoping people like it. Selling it on the net is a good way nowadays. All you need is basic html skills, a computer/internet, garage to work in, the free time and the idea and you got a small business. If im not mistaken UPS will pick up rather large shipments from your home.
There's provably a lot more to it than that though. Broken items, returns, customer relations etc. etc. etc.

The one thing ive learned so far is when you have a business chance that doesnt involve huge risk, take it. Just to not rely on it.
Love to hear everyones opinion.


Ok, 5am hope i dont sound like a loony toon :)

Still waiting for those good 31's at the yard...
 

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Discussion Starter · #2 ·
Just saying my mind.

The way the vast majority of these online computer sites make money is. Get a computer and internet. A business license. A wholesale license or whatever its called. Hire a web designer for a few hundred bucks or learn themselves. Pay for a web server. Advertise on sites like www.pricewatch.com. Receive orders from online users. Send a list to a wholesaler/packager who then takes the items for each order, packages them and sends them to the guy that paid for the stuff online. And put your address as the returning location so they feel they got the item from the guy they ordered from. You eat up the cost of returns in the money you make off the majority of orders. A friend of mine said about 5% or (or .5% cant remember) of his orders are returns. The other 95% more than make up for it. There's a lot of risk involved for the average joe though. Just like any business.

As for all the "make money off the net schemes" we get in the email and on tv. If they came to you then dont bother. Know what i mean lol.

Still waiting for those good 31's at the yard...
 
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Thats what all these companys are, just someone with a idea selling it. Some people won't buy from a guy that builds things, they want to buy from a "company" that builds things, lol...It cost $35 to form a corp. around here.
I've been thinking about building up some suspension systems for sale, but the hard part is the bolt-on aspect, anything that is gonna take real abuse needs to be welded to the chassis, or will require some heavy duty drilling and bolting. imho

 
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I'd love to market the front fenders I make, but I have a full time job and cant.I truly think that if I had to do it day in day out, it'd get old real quick!! BUT if I had the $ for the NICE tools to do it with, it wouldnt take so darn long to make them either!!

It's as close to a 1ton as it can get and still be a jeep!!! Gotta love it!!
 
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I think it is pretty easy and cheap to open up a business on a limited scale. Many places you don't even need a business license to sell a few things from your home. You can get free web space on some servers (geocities is one) and then all you have to do is read an HTML book and make a simple web page. Depending on the type of business you want to do you may have to deal with inventory and returns which could be a a hassle.

When I looked into starting a web business I was surprised by some of the tax advantages. I am no expert, but I did read the Internal revenue code and regulations and I found out that as long as you have a profit motive, you can deduct any losses from a business from your personal income (what you got from work). So, if you decide to open up shop your self and you invest money buying parts, tools, renting space etc, you can deduct it from what you make in the business, and if any is left you deduct if from your personal income. Under the IRS rules if you show a profit for any 3 of 5 years you are presumed to have a profit motive and the losses in the other two years will be allowed.

So, consider this scenario. You have 2 cars. One is a trail rig only, the other your daily driver. You open up a web business called Neat Jeep Stuff Cheap.com. You buy a magnetic sign for your trail rig and put it on the door. Now everytime you use your trail rig you are advertising for your business. All your travel expenses etc. are deductible. As is maintenance on the rig. For that matter the truck can be depreciated as a business asset. In addition, you can put neat jeep stuff on the truck as examples of what you sell. Think about how much money we are talking about. If you have a truck worth 10,000 and you take 3 trips a year costing 1000 total, and you put 1000 of parts on your truck, you can deduct the 2000 for expenses and parts (You bet Currie and Warn deduct everytime they build a rig and take it out...). You will also get another 2000 (approximately) for the first years depreciation of the truck. Assume for the sake of argument that for the first year you only sold a thousand dollars of parts (not bad for your first year side business...) You still have 3000 of deductions against your personal income. If you are in the 28% tax bracket, you save 840 bucks in taxes. These numbers a small and depending on your truck, trips and expenses they could be much larger. The danger with having a huge loss in your business is that it might attract IRS attention (just guessing), but I can't imagine a few thousand dollars will red flag the return for audit.

Since you will need to show a profit after the second year (and for 3 years thereafter) you can stop taking all the deductions you were and show a modest profit of a few hundred bucks. What that means is that the most effective time to start the business and show a loss is when you will have lots of expenses (like buying or building your jeep/shop, or investing in specialized tools).

I have heard lots of people say don't open a business just for tax reasons. Maybe that is true, but if you already have all the expenses I just mentioned (going on trips, buying parts, owning a second vehicle) starting a business can be a quick tax savings that may pan out into a profitable business.

I always figure anything I can do to keep my money in my pocket (or invested in my jeep) is worth a good long look...

Shawn

82 CJ-7, stock 258, Chrysler 999 auto, 5" lift, 33" tires, 4.56 gears, detroit locker/1 piece axles in the rear. Daily driver....
 

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i'm planning on going into business for myself (part-time and by apointment only/wwwthreads_images/icons/smile.gif) and working out of my house also... i live on a main st. (zoned for business), have parking and am building a 2 story garage/shop as we type.
i've heard alot tax advantages, i'm keeping my records very straight.

fyi, my shop will specialize in axles and gearboxes.
just been messing around on a web page alittle (still under major construction) but you can view it here http://www.geocities.com/yj3qtr_ton/mainstaxleandgear.html

3/4tonYJ

http://www.geocities.com/yj3qtr_ton
 
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3/4tonYJ nice job your doing on your web page,are you going to specialize and work on just Jeeps?

 
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