Well, I do pay all my taxes, I learned about the penalties they hit you with if you are a day late..:bang:
When I started it was all out of pocket for a while. but I had tools.
MY dad has a Snap-on 3 tier box full of tools, and I have a 3 tier Craftsman box full of tools, and a rack of testing stuff Ive accumulated, electrical testers, gauges, all the goodies.
As far as tools, Im set. Now, having said that, I dont have many Briggs tools, BUT, after I am a dealer, I get briggs tools at next to nothing cost.
I dont stock alot of parts here. just Briggs filters I can move fast, 3-5hp Foams, and 5-7hp Pleated papers.
Then the 12.5-18hp Vertical Filters.
I keep a roll of Starter rope, and lengths of 2 stroke and 4 stroke fuel lines.
I have a few Briggs recoil starters...
Beyond that, I dont stock much. i see no need to run out and buy 1000 dollars in parts that may sit in a box for 2-3 years, when my local supplier has them all on hand, all the time.
I dont even stock blades, beyond the 42" AYP and MTD blades (common).
I advertise in a Local classified paper, 12 line ad, 6 weeks at a time. It keeps me busy, 3-4 customers a week, sometimes 8-10 customers a week.
Im not looking to expand HUGE right now, just keep steady cashflow into the business account.
I have an old 4X8 Trailor I pick up and Deliver with, and my dad just bought a 17X8 Dovetail Car Hauler, so there isnt much I cant pickup.
Im very up front with my customers, about what is worth fixing, and what is going to be an ongoing headache for both of us. If they still want me to fix it, I will.
For instance there is a 38" 12hp MTD that was under water...rusted out, but ran. Guy keeps pouring money in it...and I dont know why, but Im THIS close to telling him I will buy it from him for parts, just so I dont have to get all cut up on it's rusty self anymore..
Ive only had a handful of stuff I couldnt fix, right now I have a 10hp Briggs pressure washer, that wont start and stay running. It never loses fire, and the carb is new. It is VERY high hours, so Im thinking it is just tired, as compression is low when it warms up.
I know all the headaches of paying the taxes and stuff though, and it is a pain! Right now, Im just having to pay Sales Tax..
I saved every reciept from last year, and ended up breaking even on my income tax, even though I made all sorts of money, it came up under the "limit". So I didnt have to pay this year. Still turned profit though.