Feasibility of setting up a custom build business. Interest?

[NancyJohnson]

Over the last year or so, I've built/customised a handful of parts basses for both myself and a couple of other people; as I've kind of fallen into an early retirement situation, I'm wondering whether it's feasible to actually set up/invest in a business of sorts creating basses. 

 

These would largely be Fender-esque, I can source parts easily enough; I have a local paint shop that have said they can pretty much do any type of finished paint job (clear/matte/gloss/metal fake etc.).

 

I'd not be looking to make huge £££ - obviously there'd be a build/labour fee, but it's more just to keep my idle hands busy.  I know I'm good at this and it's just a waste of my time doing nothing.  

 

Would anyone be interested?

[Beedster]

If it's a hobby through which you can make a few gear tokens, go for it. A business, I think you'd struggle, it's not just the margins on parts versus sold instruments which would be low, but the time costs of all those discussion with interested buyers who eventually decide on a Sire. I've built some bitsas to order here and made a loss each time, and that loss doesn't include the time I spent. OK, I wasn't doing it to make money, but neither did I sell any of the instruments below its value as an instrument. iI guess I'm saying that as a bobby that might wash its face, fine, as a business, no way   

[NancyJohnson]

1 minute ago, Beedster said:

If it's a hobby through which you can make a few gear tokens, go for it. A business, I think you'd struggle, it's not just the margins on parts versus sold instruments which would be low, but the time costs of all those discussion with interested buyers who eventually decide on a Sire. I've built some bitsas to order here and made a loss each time, and that loss doesn't include the time I spent. OK, I wasn't doing it to make money, but neither did I sell any of the instruments below its value as an instrument. iI guess I'm saying that as a bobby that might wash its face, fine, as a business, no way   

 

Perhaps business wasn't the right word, I guess!  Umm, certainly hobby/pastime would have been a better term.  I know that in the literal sense it's just screwing stuff together, but feedback from the work I have done (so far) has been positive.  There's no way I could build stuff from scratch; I neither have the time, inclination, machinery or skillset for this.

 

I certainly think it would be possible to turn round a couple a week to supplement my income.

[Beedster]

If the paint shop can do a decent Sherwood Green I’m interested in a Precision 👍

[Beedster]

Just noticed you were asking for interest not opinion, apols for my opinions above, have now shown some interest 👍

[Chiliwailer]

I’d kind of be interested. Recently I was looking at a Warmoth Fender build - funnily enough in Sherwood Green like @Beedster 👌

 

I know their wood is high quality and I like the options. But they have reputation, and for any new-starter, or unknown-to me-business  I wouldn’t be sure if it’s same quality, so that’d bother me. 
 

But it depends on the price you’re looking at I suppose. Moreover - I’d want to know exactly where the wood came from, but that’s just me. 
 

Looks like Limelight do well with the same model (generic parts) and I’ve always guessed that the ‘relic only’ offering was down to less work making sure the nitro finish is polished up and spot on! 

[Burns-bass]

It’s such a hard thing. To make it worthwhile you need to buy the goods at cost. So you’ll need to be VAT registered. 
 

Then you’ll need to ensure they’re well built, work well and you have a customer service policy in place. If you’re selling goods commercially you have responsibilities to the buyer (and the taxman).

 

You could build a few and then sell them online here, but personally I can’t see it being worth the effort. 

 

 

[Beedster]

1 hour ago, Chiliwailer said:

funnily enough in Sherwood Green

 

It's this year's black Dan 👍

[bass_dinger]

One of @NancyJohnson's advantages is that he has a reputation on basschat, as an all-round good egg, and nice chap.

 

That counts for something  - I know that he won't act in a way that will harm my interests, because he would in turn damage his hard-won reputation.

 

 

 

 

 

 

[Steve Browning]

29 minutes ago, Burns-bass said:

It’s such a hard thing. To make it worthwhile you need to buy the goods at cost. So you’ll need to be VAT registered. 

 You won't need to be VAT registered, unless your turnover exceeds the VAT threshold. You'd be claiming back the VAT on your costs but charging VAT to your customers (making you 20% more expensive).

 

Let's say you buy (VAT'able) parts at £600 (incl £100 of VAT). If you plan to make £200 out of the bass you are looking at two possiblities.

 

VAT registered you will charge (500 + 200) + 20% = 840

Non-registered you will charge (600 + 200) = 800.

 

Being VAT registered also imposes admin costs so you would have to add those costs into your pricing model.

 

VAT registration is a no brainer if your customers are VAT registered. Not so much if they aren't.

[NancyJohnson]

43 minutes ago, bass_dinger said:

One of @NancyJohnson's advantages is that he has a reputation on basschat, as an all-round good egg, and nice chap.

 

That counts for something  - I know that he won't act in a way that will harm my interests, because he would in turn damage his hard-won reputation.

 

 

No money changed hands here!

 

😄