Starting a home shop?
 

"Steve Lusardi" wrote in message
...
Roger,
I think you are rationalizing because you want a home shop. You can and
probably will convince yourself that it will pay for itself.....it won't
....period. I have had a very well equipped shop several times in my life,
but the advantage it provides is convenience doing your own projects and
it is expensive. It is always cheaper to buy what is sold than to make it
yourself. Use your own experience as a guide. Additionally, please
consider your available time outside of your current obligations. You will
find that it will be less than 500 hrs a year, if you are lucky. Plus I
cannot think of a better way to trash a perfectly good hobby than to turn
it into a business.
Steve

So far I'm pretty sure I've made over $25,000 in my home shop, one job was
$20K by itself. My home shop cost me the time it took to do the jobs but
has paid off by the money I saved by making parts for myself. I agree it
ruins the hobby to turn it into a business though. If I can do some select
parts on the CNC machines for my employer it could make my monthly payments
and only require I be present to stop the machine if something goes wrong.
Other than that, I want to do fun hobby projects and perhaps sell parts to
others that may be interested in the projects.

All I want in paying work is maybe 50 hours per year. I can be pretty
flexible though, like Iggy mentioned, I can buy stuff and sell for a little
profit. I once bought a lathe for $650, replaced the gear shaft, and sold
for $1400. I bought a lathe at an auction for $65 and sold for $350. But
if I don't make a dime off the shop it will be OK, I'd prefer it pay a
little though.

RogerN

Starting a home shop?
 

On 2009-10-27, RogerN wrote:
So far I'm pretty sure I've made over $25,000 in my home shop, one job was
$20K by itself. My home shop cost me the time it took to do the jobs but
has paid off by the money I saved by making parts for myself. I agree it
ruins the hobby to turn it into a business though. If I can do some select
parts on the CNC machines for my employer it could make my monthly payments
and only require I be present to stop the machine if something goes wrong.
Other than that, I want to do fun hobby projects and perhaps sell parts to
others that may be interested in the projects.

All I want in paying work is maybe 50 hours per year. I can be pretty
flexible though, like Iggy mentioned, I can buy stuff and sell for a little
profit. I once bought a lathe for $650, replaced the gear shaft, and sold
for $1400. I bought a lathe at an auction for $65 and sold for $350. But
if I don't make a dime off the shop it will be OK, I'd prefer it pay a
little though.

The use of the shop under this scenario, is testing, cleaning up, and
fixing of the machines for resale.

i

Starting a home shop?
 

"Ignoramus27237" wrote

The use of the shop under this scenario, is testing, cleaning up, and
fixing of the machines for resale.

i

AND, it is a deductible business expense.

Steve

Starting a home shop?
 

On 2009-10-28, SteveB wrote:
"Ignoramus27237" wrote
The use of the shop under this scenario, is testing, cleaning up, and
fixing of the machines for resale.

AND, it is a deductible business expense.

This is very true and very important.

i