Cobra Make, Engine: Don't think I'll be getting a Cobra for a long time... Do have '94 RX-7 R2.
Posts: 2,334
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Quote:
Originally Posted by csx4910
Just my 2 cents but after running my own business for almost 5 years I can honestly say that no one would have the knowledge to give me advice about running my business unless they have owned a business similar to mine so I am not sure any of us has the knowledge or experience to give him advice on how to run his business. Everyone has their own reasons when they feel it is time to sell.
Keith, I have never bought a product from you but I can tell you I wish I would of known about you before I bought my Roush. I wish you the beast of luck no matter what happens.
Ron
The advice to consider letting others do some of your work to reduce your workload is not specific to any business, it is pretty generic. Whether he looks for a business partner to buy into the business or finds an employee to help him run the business is up to him, but there are advantages to each situation. Losing a controlling interest in the business might not be a good idea.
Usually when you are selling a business, you don't want to be such an important part of the business that it will fail without you being there. You want to structure the business, so that it can function without you after the sale. If Keith is working all of those hours, is he required for the business to succeed? Will it mean that he will still have to work all of those crazy hours, but not be the owner anymore?
Cobra Make, Engine: FFR3542K, 347 C. I., EFI, T-5, Miata Front Sway Bar, 3 Link, Red with White Stripes
Posts: 1,165
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Dang it Keith! You can't retire. I'm still saving for one of your engines.
Sorry I missed you at the Texas Meet a couple of weeks ago.
If you really get to retire, enjoy yourself you have worked hard for it.
__________________
Steve
Texas Cobra Club-Austin
July 2009 FFCars Picture of the Month
FFR3542K, 347, Holley Sniper EFI, T-5, 4 Wheel Discs, 3-Link, Miata Front Sway Bar, Red with White Stripes
Cobra Make, Engine: ERA 289 FIA #2100 Rio Red Wimbledon White Stripes 302 stroked to 331 Webers Richmond Road Race 5 speed
Posts: 782
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What a great opportunity for a younger person. To walk in to a turn key business and become a partner/trainee with one of the best engine builders in the world. I don't think you could put a price on that. This is better than any college education! I wish I was 30 years younger.
When I grew up, there was no UTI or Lincoln Tech, just your local vocational schools that my parents thought all the flunkeys from high school ended up. So today every one has to go to college and take a bunch of BS courses and when you graduate you still don't know S___t and it cost you over a $100 grand! Most kids don't belong in college. The trades are dieing off. Electricians, carpenters, masons, machinists, auto body repairmen, plumbers, HVAC, and the list goes on.
DanEC, I had a similar experience with Keith about a month ago. I drove to Arkadelphia to look at a Superformance that Keith was selling, my first Cobra, never met Keith before. He had put a small block stroker (427 cubic inch, 580 horsepower, 590 torque) and Tremek TKO-600 into a beautiful new SPF roller (Royal blue, double Wimbledon racing stripe). Keith gave me the full tour of his shop and two hours of his time, showed me the car, demo'ed the engine (no drive, it was wet), went over all paperwork (including Dyno data), and answered all questions. I bought the car on the spot. Keith is a big talent, hard working, honest, responsive. He and Shelly worked with me to resolve an SPF roller issue (no issues at all with the engine) and to generate all the paper work necessary to get a new title in Texas. Keith trailered the car to me in Dallas on his way to the Texas annual meeting in San Marcos. Car is great, engine is breathtaking. (Yesterday, a Corvette pulled up to me at a red light, driver rolled his window down, said "Now, that's a man's car, tell me about it." This was right after a cop waved at me, and a kid on a hot shot motorcycle challenged me (a challenge this brand new and inexperienced old man owner declined).) Keith gave me his cell number and has answered my phone calls at 8 PM at night. I can't speak highly enough of the guy and don't understand how any customer could have an issue with him. If he retires . . . our loss.
Cobra Make, Engine: Kirkham 427 brushed aluminum with Keith Craft 527C.I. all aluminum FE
Posts: 992
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Not anytime soon
I want to let my customers know and hopefully and future customers that I am not retiring anytime soon. I more or less wanted to see if there was anyone young or old that might have an interest in getting thir feet wet in this business.
There would be no way I do not think that someone could walk in one day and me leave the next. I just want to slow down a little on my end and just wanted to see if there was anyone interested in getting into this business that had a true desire. This would take someone that had a love for cars and engines and wanted more than a job. It is getting harder and harder to find those kind of people.
I have good employees that could pretty much run the shop without me as long as the work was rolling in. Well as we know that does not just happen without talking with people and being involved with activities that put you in touch with car people. My engine assembler Jeff Henry has been with me 15 years and I would put him up against anyone anywhere. He is one of the few like me that when his name goes on something he wants it the best it can be. You have to have pride in your work and have a desire to be the best.
Like someone here said Roush has very little to do with the crate engine business. Pretty much got approached with an ideal to do the crate engine deal when his shop slowed down. Other people run it and he said do not do anything to hurt my name. They have done a pretty good job with that, but you will not call there and talk about a problem with Jack Roush, he has other things to do.
I started my shop about 17 years ago after splitting with a partner. I had a 3000 square foot building and myself for about a year and then Jeff came to work for me and then about 4 months later my brother-in-law. We three took it from there up to about a 12,000 square foot shop, ten employees and about 20 engines a month sold to about 20 different countries world wide.
Know with over 2 million invested and three children I will not retire in the next year but do plan to slow down some. So I hope that we can keep doing business with the Cobra community because it has been good to us. Just checking and looking for a few options in the future.
By the way the profit margins are tight in this business and I do not see how some of these others places can compete with us with our location and lower overhead. I tell people we are not the cheapest and we are not the most expensive but somewhere in between.
Thanks for the post and private e-mails and be sure we will not leave our customers high and dry.
Cobra Make, Engine: ERA Street Roadster #782 with 459 cu in FE KC engine, toploader, 3.31
Posts: 4,533
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Quote:
Originally Posted by Dallas56
DanEC, I had a similar experience with Keith about a month ago. I drove to Arkadelphia to look at a Superformance that Keith was selling, my first Cobra, never met Keith before. He had put a small block stroker (427 cubic inch, 580 horsepower, 590 torque) and Tremek TKO-600 into a beautiful new SPF roller (Royal blue, double Wimbledon racing stripe). Keith gave me the full tour of his shop and two hours of his time, showed me the car, demo'ed the engine (no drive, it was wet), went over all paperwork (including Dyno data), and answered all questions. I bought the car on the spot. Keith is a big talent, hard working, honest, responsive. He and Shelly worked with me to resolve an SPF roller issue (no issues at all with the engine) and to generate all the paper work necessary to get a new title in Texas. Keith trailered the car to me in Dallas on his way to the Texas annual meeting in San Marcos. Car is great, engine is breathtaking. (Yesterday, a Corvette pulled up to me at a red light, driver rolled his window down, said "Now, that's a man's car, tell me about it." This was right after a cop waved at me, and a kid on a hot shot motorcycle challenged me (a challenge this brand new and inexperienced old man owner declined).) Keith gave me his cell number and has answered my phone calls at 8 PM at night. I can't speak highly enough of the guy and don't understand how any customer could have an issue with him. If he retires . . . our loss.
I saw your car up on a lift in his shop when I was there. A beautiful car. Glad to hear Keith isn't going any where soon.
40 yrs ago I started picking up the machines to have my own shop pricing out boring bars,planers,etc came to a screaching halt.Then landed a great outdoor job and still at it,at least a couple more years before I hang the hat up for good.
I would most likely still have my business in Honolulu, IF, I could have found someone to partner with. Not quite enough capital to make the leap to hire someone full time and yet to much work to do it all myself. I never could find the right guy to partner, buy me out, do SOMETHING, the hours and the headaches were just to much, I threw in the wrench... Maybe when I was a younger man it might have been different.
Cobra Make, Engine: ERA #732, 428FE (447 CID), TKO600, Solid Flat Tappet Cam, Tons of Aluminum
Posts: 22,025
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Ernie, did you start that business because you enjoyed doing whatever it was the business did, or did you start the business because you determined that the particular business could make a good bit of money?
Soon after I retired the first time from a corporate position, I quickly got bored. So I just started doing what was I had always done, tinker with motorcycles, mopeds, three wheel machines, Honolulu has all kinds of crazy transportation stuff. I didn't set out to actually making a living from it, maybe a little side income. It wasn't long before it turned full time, I made some decent money. Worked to dam hard, it was SUPPOSED to be a hobby!
Cobra Make, Engine: ERA #732, 428FE (447 CID), TKO600, Solid Flat Tappet Cam, Tons of Aluminum
Posts: 22,025
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Quote:
Originally Posted by Excaliber
... tinker with motorcycles, mopeds, three wheel machines, Honolulu has all kinds of crazy transportation stuff.
That's what I wanted to do. I was in my second year of college, lost my job as a mechanic (not because of poor craftsmanship, Chas.) and the only job I could land was crawling under houses that were under construction and pumping out the water after it rained and then putting the plastic down over the dirt and mud so the plumbers could lay the pipes without getting dirty. One day a plumber's helper reamed my butt out for doing a lousy job putting the plastic down on the dirt. It was at that point that I thought "man, there's got to be a better way...." I remember that like it was yesterday.
As one who owns a Keith Craft engine I can attest to what a great experience it is to work with Keith and crew! He stands by his work and builds great engines.
Keith, it bums me out to know that you may sell out, but I totally understand where you are coming from. I've done dot.com startups for over a decade, the hours wear you down. It's nice to be able to spend time with those who you are working for. (Shelly and your children.) I fell truly lucky to have a Kirkham with a Craft engine! Thanks for all you do!
Sincerely,
len
__________________
Cobra: A weapon of gas destruction
Hopefully, Keith is feeling better today. Nothwithstanding, a line of succession in any business is a smart business plan. You never know when you'll need to "exit stage left" from the famous philosopher Snagglepuss:
Maybe when I was a younger man it might have been different.
) and the only job I could land was crawling under houses that were under construction and pumping out the water after it rained and then putting the plastic down over the dirt and mud so the plumbers could lay the pipes without getting dirty. One day a plumber's helper reamed my butt out for doing a lousy job putting the plastic down on the dirt. It was at that point that I thought "man, there's got to be a better way...." I remember that like it was yesterday.
Hybrid Mode
