SHUTDOWN MY TIRE SHOP | This Is How Much I Lost 😢

[@tonyfreeman1083]

Put it behind you and move forward I appreciate Your honesty and details Good things are coming your way

[@fernando_h_001]

Tony thank you so much for the support and positive comment! I will continue to do the best I can and thank you for watching my video!

[@Koko_Sam]

I help run a family business here in the outskirts of Los Angeles. I'm 46 years old and have been mounting and fixing tires since i was 12 years old. I've had the luck of working with all types of machines as technology evolved. We live in such a blessing of a country, where you don't need an education to open up a business.......but an education helps. There is a huge difference between opening a business and knowing about business. The latter which is affecting me in regards to my competition. My grandfather told my dad, that to open your own business in the US means to work hard and live well. It was a major stepping stone to living an upper middle class life. Today I find that majority of my competition are Hispanic (as I am), that barely speak english and know nothing about overhead, inflation, or hourly rate. They live in their business, charge cheap and conformed to owning a business to make ends meet than to make a profit. Yet, they think they're successful entrepreneurs simply because of the psychology of not having to work for someone else; when they'd be better off financially if they did. I have a $14,000 dismount machine, $3,000 shop compressor, $700 impact gun, $400 shop jack. That's $18,000 dollars in equipment needed to do a flat repair, keeping in mind that the equipment does not work itself so the LABOR factor isn't even included in the total. I charge $30 for a flat repair and people BITCH that i'm too expensive, that the guy down the street does it for $10-$15 dollars. LOL. Some people even say, "I came down here to shop around and see if by any chance you were cheaper" (Cheaper than $15). $15, heck, $25 won't even get you parking at Disneyland. My point is for all you future entrepreneurs, is to know your market, set your prices based on what you are investing, and instead of lowering your prices/worth to gain a customer, give him something that your nearest competitors are not. For all my spanish speaking entrepreneurs....especially from mexican decent like me, "Mientras caiga para papa" is a philosophy that does not belong in a self employed environment. Better to work for someone else than ruin business for you and those around you.

[@A-25_RoomsLowDetailed]

Glad I only pay $5 . Used tire cost me $30. No recap. Rubidoux, CA .

[@Joetv86]

Daaamm bro that was a good comment I want to start a tire shop I’m Mexican and I understand wat u mean lol about acting like a boss rather than being a boss lol mandame mensaje viejon

[@nassersamano5144]

@@A-25_RoomsLowDetailed $5 won't buy a gallon of gas. Used tires from a used tire recycling distributor average out at $15-$18 per unit cost to me. I'm not going to mount and balance a tire for $15 profit not including tire disposal.

[@spanionneo]

If you're charging $30 for a patch, you're undercharging. If you're Charging $30 for a plug, you're overcharging. Most customers don't know the difference and are shopping for a plug. Around me and most of the country, a plug is for $15. ( even though a plug is not recommended, some people still want it.) Any industry that has a low barrier to entry will experience compensation stagnation and high turnover rate. Auto Repair i probably the worst business model you can get into. Most of these poor neighborhood shops are poorly run and owners are usually making less than if they were an employee elsewhere. Like you mentioned, it's ignorance of business. But it won't change in our life time. You're better off carving a niche for yourself where there's less competition for the dollar.

[@pee196]

it's all business.. been cheap takes you no were

[@ruwanmarie706]

I just found your tyreshop video and so happy about you, suddenly this video popup, so sad..but it was a good lesson . Still like your video ...wish you a success future .❤️

[@fernando_h_001]

Thank you, for the positive energy! Thanks for watching!

[@physicalivan]

the landlord cheated on everyone. he wanted easy money, doesn't know about opening/running a business, and would steal the tire shop from you if profits were higher.

[@kendalneely3241]

Great video ! Thanks for your honesty 🙏🏼

[@fernando_h_001]

Thanks for the comment Kendal, it means a lot

[@joeishere500]

THERE YOU HAVE IT BOYS / GIRLS,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Look at the cost of that rent $7000 is insane !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[@fernando_h_001]

Indeed $7K is very expensive!

[@Joetv86]

I would of divided the rental cost with some one else or sub rent the whole building for profit

[@thomasfrancis5747]

I'm sorry but these are fundamental errors down to a lack of planning/attention to detail. Also used tyres can be a minefield - selling potentially dangerous product, eg hidden sidewall damage, poor quality from unproven/here today and gone tomorrow manufacturers, or products not carrying approvals for your country, can leave you wide open to highly expensive legal claims.

[@fernando_h_001]

Hello Thomas, I agree, I think that there is however a market for used tires and typically people buying used tires are really people who won't be able to afford anything else. But It is still risky and best to just focus more on new tires or structure the business in a way where you are at least legally protected. Thanks for the feedback.

[@sergiomiranda1497]

There is no shame in closing down, you learn and move on.👍

[@fernando_h_001]

Thanks Sergio, I agree you Live to Learn so that you can truly learn to live.

[@JohnJohn-hu6vh]

I just open and love it, my own shop, enjoying life❤️❤️❤️

[@fernando_h_001]

Love that!

[@Jody-cg8pb]

Where can u get used tires I’m tryna open my own

[@rj5795]

I came across your channel recently I've seen your tire mobile and now this, I'm curious do you think the automotive industry is for you? I have Ford 250t high roof, I am an experienced mechanic but seeing the numbers to build this is a lot of overheard.

[@fernando_h_001]

I’m still in the industry but now in software, only time will tell for now i’m enjoying and grinding the journey. If you can afford the mobile setup go for it but make sure to consider everything.

[@Ryan-bh3mh]

My family started a business tire like 15 years ago and once he tried to expand his shop he had three tire shops but unfortunately one had a shut down because a many people don’t went to work. Oh they’re just there looking around trying to see how you do all moves. All I’m saying man is to keep your head up and always watch your moves and make sure other people aint watching

[@fernando_h_001]

Ryan thank you first of all for watching my videos and for your positive comment, Will definitely keep my head up and try to learn from the mistakes. Thank you for the support!

[@Editnamehere]

Good experience people can learn from. Remember there’s no such thing as free lunch.

[@fernando_h_001]

Thanks for watching! And yes absolutely, i agree with this 100%

[@Yordany617]

Hola Amigo, I am in the wheel and tire industry and my dream is to start and run my own tire shop and I am subscribing to you. Thank you!

[@fernando_h_001]

Welcome aboard! Thank you for watching my video!

[@Sharevidks11]

thanks for the honesty

[@fernando_h_001]

Thank you for the support watching my videos! Yes I am always sharing my experiences whether they are good or bad but always honest

[@goodvibes04281]

I seen ur other video before this one, once you mentioned that the owner was not gonna charge rent that was a Red flag 🚩

[@Ryan-bh3mh]

Yeah at least you learn from your mistakes. honestly what you doing makes money you just have to be at it you can just walk away and do other things because people will take a bandage like you said you have a family business and they try to support you for a own business but like you said rule number one never do partnerships is the worst thing ever. You just have to find the right spot and trust me you will make a lot of money but the thing is is a lot of hours but if you the owner you will make more money than your employees.

[@fernando_h_001]

Thank you for the support and feedback on your own experience! it is always great to hear from another point of view. Thank you for watching my videos!

[@BrotherJuke]

Hey I want to open my own shop and know I can run a successful tire shop, I need the capital to start I got everything else figured out.

[@officialkreps]

my business crashed just as it was getting going. pick ur partner wiseley before throwing 10s of thousands at a project. you are investing in the person to be on your level and have the same drive.

[@dingavg2221]

thanks for the video, i think i learn from you

[@fernando_h_001]

thank YOU for watching!🙌

[@alr9170]

I'm thinking about opening a tire shop. On average, what sizes of tires should you always have in your shop?

[@fernando_h_001]

I have a Video coming up today about this but its 205/55/16 , 225/65/17, 215/55/17 just to name a few and every market is different

[@audreyfk5267]

Hi if I may ask.. what city was the shop in?

[@fernando_h_001]

This was in Las Vegas NV

[@ifronnin]

The only ship that doesn’t sail is a partnership.

[@fernando_h_001]

Thanks for the feedback!

[@mohammedgoda1374]

Plz can you tell me where you get the use tires from ?

[@fernando_h_001]

Hello, I get them from a place called Lunas Inc in las vegas and liberty tire.

[@1samharris]

Please how do you pick your suppliers?

[@fernando_h_001]

You just honestly pick the one that gives you the best price, and the best service or service you are looking for.

[@willbreaker2196]

I want to start with semi-truck tires Maybe a movil operation

[@fernando_h_001]

Good money, for sure, make sure you are well trained to prevent any injuries.

[@davidgarcia6895]

Where can I buy Retail tires to start a shop

[@fernando_h_001]

There are several tire distributors, check this video out: kzbin.info/www/bejne/aYeZgZVsr7icl80

[@bigbrotherinlife1654]

Do you mentor or have a course on how to start a tire business

[@fernando_h_001]

Good afternoon for the moment I do not but I am considering it for the future, you can reach out to me via www.fernandoherrera.org/ Thank you for watching my videos!

[@nayibbukelevatochingon2438]

ANIMO. AMIGO. TU. PUEDES. YOU CAN DO IT. BRO.

[@fernando_h_001]

Gracias por el apoyo viendo los videos y tu comentario positivo!

[@ozzayyyy]

yooo, cuanto cuesta para abrir una llantera?

[@fernando_h_001]

Hola Ozie, entre unos $50,000 - $150,000 dependiendo que maquinaria y equipo, quiere empezar. Aqui hay un video donde hablo mas a detalle eso. kzbin.info/www/bejne/mYG4d5qXos98gaM

[@richarddelgadoownerofrdtru2480]

Hello Fernando how I can reach you for

[@fernando_h_001]

Hello, thanks for watching, feel free to email me at [e-mail]

[@barcabrothers9098]

The land lord is charging $7k for that store?? It looks more like $2k a month to me.

[@fernando_h_001]

Haha I know it was a pretty big rent, but luckily got out of there in time.

[@noelibarra3903]

Buenos Días Amigo vivo en Texas Pero me stare moviendo para Las Vegas en un año y quisiera comenzar un negocio de road service tire service Es buen negocio en Las Vegas? Gracias

[@fernando_h_001]

Hola Noel, gracias por ver mis videos, respecto a tu pregunta, como todos los mercados, hay mucha oportunidad, y Las vegas esta creciendo mucho, no mas que si es un poco competitivo, pero si le pones las ganas y el trabajo (inteligente) te puede ir bien!

[@asiesmivida4863]

Amigazo!! Yo también empece mi propio proyecto de llantas,. Pero más mi enfoque es el roadside services., car tires, Semi's Tires, gas delivery y más., #jfroadservices

[@fernando_h_001]

Hola Que bien! l Gracias por ver mis videos. Si ay alguna sujerencia de video dejemelo saber

[@Joetv86]

Bro mandame message

[@LAMamba626]

Fernando what’s up this is LA Mamba from SoCal hit me up

[@niklaasvisser6397]

Hit him up! LA Mamba actually helped me get started with my tire shop through his videos and we are thriving!

[@fernando_h_001]

Hello La Mamba, hopefully you are going to SEMA this year we can meet there!

[@alfonzovaca5529]

What are the licenses you need to start a tire shop business?

[@fernando_h_001]

Hey Alfonzo thank you for watching my videos! You know It does change depending the state and city I am sure, I would suggest you looking into the local guidelines.

[@alfonzovaca5529]

@@fernando_h_001 that is bro your big help and bless your businesses

[@jollyroger5464]

Does your $6K out of pocket loss include the FMV of the tire machines you gave to the landlord?

[@fernando_h_001]

Good afternoon, Yes the tire machine that was given. Thank you for watching my videos!

[@fernandofreire9796]

Hola ! Tienes videos en español?

[@fernando_h_001]

Hola, por el momento, no, pero ojala y pronto. !

[@kenh-muabankyguiusatovn8598]

hi if u selling the mobile van,,can u sell it to me? i wanna do mobile in houston, busines is good over here,,,im vietnamese live in houston,,,i have connection in vietnam,,,,also im a truck driver over here,,,,,wanna do something side job part time,,,, ,love your video,,,

[@fernando_h_001]

Hello thanks for watching, unfortunately we sold the van to a person in Phoenix. Best of luck in your ventures.

[@chrisgoosebrooks638]

To many hands in the pot and bad location

[@fernando_h_001]

Lesson learned. Thanks for watching!

[@luisrodriguez768]

8k ?

[@fernando_h_001]

It could have been worst no?

[@unknowndriver6652]

What are you doing now?

[@fernando_h_001]

I was sad.. or I was reading off my notes (script).