SHOULD I RENT A SHOP FROM A FRIEND? | Machine Shop Talk Ep. 90

[@ReubenUrrea]

Interesting video. so the idea of owning makes sense long term., Knowing what the market bears, and what is your budget to get started and building a decent customer base is key. Love the video.

[@badratsshop8056]

Very good information, been there and it's not good for either party.

[@Vankel83]

600sq ft is small. Plus 1500 a month holy shit that's high rent. I got 3,000 sq ft and it's crowded. 4 cnc mills, 2 cnc lathes, 2 saws, air compressor, material racks, customers parts shelving, shipping table, worktables, toolboxes and tool carts. Plus, 600sq ft is office and common area. There's so much stuff that goes in having a shop.

[@johncollins2037]

Totally agree , renting only gives towards the landlord, if you consider them to be a reasonable person or especially a MATE/FRIEND forget it, ask you're self were they are now, compared to what he/she/them started with? will they take advantage of the situation, i am in a rented property, machines not worth much more than scrap valve as you stated because. Who buys a machine at the real value, that then incurs a major transport cost?. Answer only scrap dealers and local scrap dealers at that, minimum transport costs, maximum profit, who gains from infrastructure built inside the premises during the occupation? answer landlord. If the premises were owned, maybe a small out building could have been erected or even a 30FT container to store non critical components or low value items to increase work area. company value 0, profits limited due to restrictions , all to sell is good will and the hope of employment in the future.

[@eprofessio]

If you have a person that you want a relationship with that full of friction than rent from a friend.

[@glass1258]

Never rent anything from friends or family… it can only go wrong

[@iansandusky417]

This has always been my thought process as well!

[@skibee50]

Not true

[@glass1258]

@@skibee50 mostly true

[@iansandusky417]

@@skibee50oh don’t get me wrong - I know and have met many people who have made it work - it’s just something that people should walk into with eyes wide open as to the potential risks!

[@tommays56]

35 years ago we were going to buy a sheet metal shop BUT they owned the building and it had become worth well over a million 🎉 which worked out for the founders but ultimately made the business worthless

[@iansandusky417]

I’ve seen that situation too many times! I knew a guy who bought a successful shop… in a leased building. Cost him $30k or so to just to open the doors and turn the lights on every month. The shop no longer exists, unfortunately.

[@owievisie]

I havent even watched the video but I can already tell you to never do business with friends or family. Just don’t

[@iansandusky417]

It very, very rarely works out - from what I’ve seen, in any case!

[@skibee50]

Not true it's working well for me in fact so well I'll do whatever is wanted from me

[@owievisie]

@@skibee50 Happy for you bro