Ever wanted your own engine business - Page 2

Jamo · #21 (**permalink**) 04-13-2010, 03:23 PM

Quote:

Originally Posted by patrickt

Just to be clear, I have no intention of buying Keith's business. But, it's interesting to think about. You wonder how much a business like that actually throws off as net income, what the investment in all those machines must be, how they're financed, what their true value would be if you had to sell them, etc. But that's not the really interesting thought. The interesting thought is how many people actually make a lot of money doing something that they really, really enjoy. I've written any number of times that the ERA labs looked like so much fun to work there that I offered (half-jokingly) to pay Peter to let me come and work for him. And when I would say something to the guys there like "you don't realize how unbelievably lucky you are to be doing this" they just looked at me, politely, like I was absolutely insane. And then I think, maybe it's not so much fun. Maybe it's a huge PITA and you have to deal with nuts all the time -- some nuts being easier to deal with than others. Maybe doing anything (like building high performance engines), if you have to do it for a living, changes the allure of what was once viewed as "tremendous fun" in to something akin to "just another day at the salt mine" -- and then, if you're not making a lot of money doing it, it starts to suck. How much is Keith Craft Engines worth without him working there with you? Or for that matter, how much is Kirkham Motorsports worth without the two brothers? They seem to love their work and make a lot of money too (I hope they're making a lot of money, they deserve to). Hopefully they won't burn out on it all (at least not before they can turn the business over to their children, who hopefully will have the passion of their dads). The same goes for ERA. I don't know -- I wonder how many people in this industry really love what they're doing -- and it's too much to expect to get the real truth on something like that posted on an open internet forum. I've also wondered a few times just how much do the guys at ERA make (or Kirkham)? In my book they deserve to be multi-millionaires, and I really hope they are. Peter told me more than once that "the margins in this business are razor thin." Who knows. Hopefully Keith squirreled away a lot of dough, and if he does sell his business, I sure hope the buyer doesn't run it in to the ground. Which leads me to think that maybe you can't make money in this stupid Cobra industry unless you have a ridiculous passion for it to begin with (and that includes engine builders and others). If you're looking to just make money alone, I don't know if you can do it in this industry. Just rambling thoughts....

Is Rick Lake ghost writing for you now?

patrickt · #22 (**permalink**) 04-13-2010, 03:25 PM

Quote:

Originally Posted by Jamo

Is Rick Lake ghost writing for you now?

No, but I got sad when he said he wanted to sell. And then my mind started to wander....

RodKnock · #23 (**permalink**) 04-13-2010, 03:38 PM

Patrick is melancholy?

We hope that Keith is just having one of "those" days. Having just finished my income taxes, I should be having one of those days too.

Cobra interest has not died out in almost 50 years. Its design is enduring.

patrickt · #24 (**permalink**) 04-13-2010, 03:40 PM

Quote:

Originally Posted by RodKnock

Patrick is melancholy?

If Red would come back and call me an azzhole I know I would feel much better.

RodKnock · #25 (**permalink**) 04-13-2010, 03:47 PM

Quote:

Originally Posted by patrickt

If Red would come back and call me an azzhole I know I would feel much better.

It wasn't completely your fault. He may come back, though every indication is "na-ga-da." He's a prideful guy. I like to see him back too.

mdross1 · #26 (**permalink**) 04-13-2010, 03:52 PM

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.

Silverback51 · #27 (**permalink**) 04-13-2010, 04:57 PM

Quote:

Originally Posted by patrickt

If Red would come back and call me an azzhole I know I would feel much better.

You're an A$$HOLE.

There, do you feel better?

patrickt · #28 (**permalink**) 04-13-2010, 05:10 PM

Quote:

Originally Posted by Silverback51

There, do you feel better?

Nope, it's just not the same. You first have to blindly stumble in to an obvious goad. Then you have to take three or four shots right on the chin. Finally, you have to go ballistic over something relatively trifling and lash out at people who had nothing to do with the original prod. That's how Red used to do it.

Silverback51 · #29 (**permalink**) 04-13-2010, 06:01 PM

Quote:

Originally Posted by patrickt

Nope, it's just not the same. You first have to blindly stumble in to an obvious goad. Then you have to take three or four shots right on the chin. Finally, you have to go ballistic over something relatively trifling and lash out at people who had nothing to do with the original prod. That's how Red used to do it.

Damn, I'm a failure.

And then back on topic.

If this was 30 years ago, I would be real tempted. Now I'm just to close to retirement to even think of doing such a thing.

Best of luck to you on this.

ERA Chas · #30 (**permalink**) 04-13-2010, 06:07 PM

Quote:

Originally Posted by RodKnock

Patrick is melancholy?

.

Quote:

Originally Posted by patrickt

If Red would come back and call me an azzhole I know I would feel much better.

Cheer up buddy-I'm still here for ya!

Put on yer dickhat and take a stroll through Anacostia and you won't have a care in the woild...

Excaliber · #31 (**permalink**) 04-13-2010, 06:36 PM

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.

patrickt · #32 (**permalink**) 04-13-2010, 06:47 PM

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?

Excaliber · #33 (**permalink**) 04-13-2010, 07:13 PM

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!

patrickt · #34 (**permalink**) 04-13-2010, 07:46 PM

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.