Lease a Wrap Shop in South Florida

[southfloridawraps]

Hello

I purchased a Mutoh 1614 64", enduralam laminate machine and 64" plotter last November 2009. I did a few jobs but I am unable to dedicate my time into this business as I have another full time job. I was wondering if I am
better off selling my equipment and losing probably $5-10k off my purchase price of $30K or should I try to lease the equipment and the Storefront warehouse it is in.
The office is located on a busy street in Pompano Beach Florida, thousands of cars drive by everyday. I was thinking of leasing the equipment plus the 1500 SF office for $2100 per month. Another reason I am doing this is because I cannot design anything. I am sure there is someone out there that is a great designer/installer that this would be great for. Equipment is still under warranty.
Be easy on me guys and girls, i realize that this is a tough business and have the utmost respect for you all.

 

[TheSnowman]

Sounds more like you need to sell than lease. Either way, in this world...it will probably be tough unless you have just a ton of people coming in every day.

 

[marcsitkin]

Sorry to hear about your situation. Contact me via PM. I might be interested. I'm in your area, and would like to talk.

 

[James Burke]

I don't mean to sound judgemental and this post is not intended to be scornful toward a guy (or gal) who tried to make a go of it on their own. At least you had the guts to try, and maybe something will work out in the future.

As a relatively new business owner (5 years), I've made myself a student of why businesses fail. In all honesty, your anwers to my questions could potentially help others as they consider a business...or not.

What lured you into a business that large, so quickly? Was it one of those 0% offers in a sign catalog?

Did you have a written business plan and marketing plan?

With no design experience, what were you thinking? (seriously)

I agree with the others that you should sell. Leasing to someone is asking for more trouble, and that's the last thing you need at this time.

Jim

 

[southfloridawraps]

I taught that hard work would make this a great business opportunity.
What I did not expect was the time and dedication it takes ( and that you better be a great designer). The working hard part was not a problem but it was frustrating to have to get design help. The equipment was paid in full with money from my other business. My other business is architectural foam, which we started in 1999 and has made brought us lots of success.

Thanks again

 

[wrapman jamz]

PM'd

 

[James Burke]

The equipment was paid in full with money from my other business. My other business is architectural foam, Miamifoam.com which we started in 1999 and has made brought us lots of success.

It's good you didn't have to go into debt...I trust you can make your money back. Glad to hear your primary business still puts food on the table.

Jim