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  1. #1
    Full Member bolton78's Avatar
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    Default Starting up a new business

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    (admin move this if it aint in the right place,thanks)

    I'm seriously thinking of starting up my own machine shop,ive more than likely got the custom,cos the company i work for is really,really struggling to find a good local machining company,therefore im thinking of setting up for myself and getting the work of my boss,which i think he would give to me cos he is so desperate to get this work done,at the moment i reckon i would have a minimum of 5 years work.

    Problem is i aint got the 1st idea of where to start.Is anybody else got there own company who can point me in the right direction?

    I.E

    Premises
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  2. #2
    Super Member Tankman's Avatar
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    bolton78, sounds as if you're ready to go.

    While you're subcontracting work from your current employer, look for more work from other sources.

    "Don't keep all your eggs in one basket."
    Tankman

    "When the well is dry, we know the worth of water." Ben Franklin ~ 1746

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    Will you be borrowing money from a bank for financing this business? If so, the first place to start is a well written business plan. No plan = no money.
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    Eat brains...gain more knowledge!

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  4. #4
    Super Moderator Cad64's Avatar
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    Been there, done that.

    Be prepared to work 12 hours a day, 7 days a week for very little profit. The machine shop world is highly competitive and there will always be other shops bidding jobs for less money and quicker turnaround. There are lots of guys that actually live in their shops, so you are competing against them. My father and I had a shop for 8 years before I finally left. It was a constant struggle just to make ends meet. There were times when I would go for 3 or 4 weeks without a pay check because we had to make machine payments or rent or buy equipment. And we were always going to auctions for shops that had gone out of business and were selling their equipment. It was tough.

    And don't think for a second that your boss is going to give you all his work just because he knows you. If someone else comes along and says he can make the same parts faster and for less money, guess who's going to get the contract. So you will spend a lot of your time hunting for work.

    I don't want to rain on your parade, but it's very tough to survive in the machine shop industry. Tools are expensive and machines are extremely expensive and when they break down, you either have to know how to fix them yourself or you have to hire someone to do it for you at some outrageous cost. But either way, down time will kill you. If your clients don't get their parts on time they will start looking for someone else.

    Then you have to hire competent workers. Ones that won't crash your machines and break your tools. Good luck with that search.

    And by the way, do you have any experience as a machinist? If not, then I would strongly advise against doing this.

    Anyway, sorry to be such a downer.

    Good luck to you.
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  5. #5
    Full Member bolton78's Avatar
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    Default

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    Thanks,yes i am time served machinist in both manual machines and cnc (lathes/milling machines/machining centre's)

    I know what you are saying about my boss might not give me the work but whlist i have been working here,the work what has been sub contracted out has been shipped out to czech republic and spain for the work to be done has come back at poor quailty,so then we went to local firms either dont have the capacity/quoting us stupid prices/delivery not on time.

    so i firmly believe he would give me the work,and i also think i could quote cheaper than what we are getting quoted for jobs,thats one of my problems,what factors do you consider when quoting for a machined part

    E.G the company gives me free issued mild steel bar sawn to lenght,all it needs is rough and finish turning? i cant go into much detail but we was quoted £350 from a local firm,saying a had a lathe and all the tooling i reckon i colud do it for around £150
    mechnical design engineer & cad/cam
    programs Im using autocad 2008,inventor,powershape,powermill,mastercam x3
    WEBSITE:- www.cadtechuk.co.uk
    EMAIL :- sales@cadtechuk.co.uk

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