2 ms·
I thought I would roll my own side gig once. The plan was to find broken cars on Craigslist and fix them for a profit. We're talking things like needs an engine
by nobody271 8y ago
I thought I would roll my own side gig once. The plan was to find broken cars on Craigslist and fix them for a profit. We're talking things like needs an engine or a transmission. I could do maybe ten a year. I'd be keeping a car out of the junk yard (which I imagine is good for GDP in a very small way) and making a very modest profit of $10,000/yr if I was lucky.
Well it turns out that is HIGHLY regulated. You need a dealers license which means you need a building to act as the place of business (can't be your residence), the business has to have $75,000 in assets or you have to get bonded. You have to pay insurance. You need signage. You, of course, have to pay taxes on everything. Basically by the time everyone takes their little piece there's nothing left for you.
I think this happens in any industry. It gets regulated to the point of a normal person not being able to participate. You dont own a bakery, you work for the bakery. You don't own a corner store, you work at Walmart.
What I see is a lot of closed doors yet we still act like they're open. They aren't real options anymore. So what are the real options?
- downrightmike 8y agoFood trucks and any other fad that burns out slowly.
- lotsofpulp 8y agoI think it would be in society's interest to know the credibility of someone repairing and selling 2 tons of metal that will go out on the road and pose considerable risk to others' and the driver's lives on the road. See the limo crash that just killed 18 in New York state. There might be situations where corrupt government is inhibiting competition for the gain of particular parties, but some things do make sense, such as being bonded when the risk of the work you are performing could be result in large costs.
- nobody271 8y agoThe bond, I think, is mainly for if someone sues you. For a $1000-$2000 car $75,000 is overkill. They could make a class for people who aren't dealers where you only need to buy a bond for the car you are selling or something like that.
- lotsofpulp 8y agoAn vehicle with improperly installed brakes or other unsafe mechanisms can easily cost far more damage than the value of the car.
- dsfyu404ed 8y agoI know this might be surprising to people who grew up in certain areas where scumbag business practices are the norm but the total number of people who run their small businesses like scumbags is very low compared to those that don't. It costs society more to make everyone play to the lowest common denominator than it does to clean up after the scumbags.