Sold my business in Michigan

[we2riders]

After being in the used bike business for over 40 years my wife and I sold out..

It had taken me a few years to come to the conclusion that the economy, at least here in Michigan, had probably gone beyond that point of probable recovery within the working years I have left..

I discovered, much to my disadvantage, that even waiting the 6 years to do this cost us thousands of dollars in lost revenue. Instead of the .75 on the dollar we could have gotten on inventory 6 years ago we ended up at about .30 on the dollar.. Dont misunderstand though, even though I do have real mixed emotions about seeing all my bikes and inventory go I still am thankful that it sold..

This last season was a real eye opener for us.. Couple of quick examples,

Had a complete 2003 anniversary Harley motor and trans - less than 4k miles on it, TC88, started at 2400 a year ago, went to 1800, 1500 (lots of offers to sell at 500) finally sold to a custom shop for 900.

Another one was a good old 1986 Honda XR350 that was street legalized (pre 9/11 we sold a number of these converted XR's and never under 2), it was a gorgeous bike!! Started out at 1700, early summer dropped to 14, late summer dropped to 9 (I had almost that in parts in a complete top end - lots of lookers and people wanting to trade for cameras and boats and lawnmowers and on and on).. Finally a guy drove all the way from Wisconsin to get it for 600 bucks..

I am still gonna spin wrenches and buy and sell (wife says I have two stroke oil for blood) BUT at an extremely downsized rate..

So here is a question for you folks, I still struggle with the idea that this Michigan recession is really that bad across our country.. If we moved out of our beloved state and headed for a warmer, dryer (low humidity) climate - is there anywhere in the country that still seems to be economically desirable for bike resale - off road, on road dont matter.. Have you folks who live in these climates noticed a slow down on sales of motorcycles (or quads) you have seen sitting in peoples front yards? Are there any of you who have attended live auctions thru the years and noticed a steep decline in local auction prices for bikes and related stuff or is does your area seem to be holding steady?

I welcome any input on the subject matter!!

Thanks

Scott

[ACE50]

IMO, motorcycling is a hobby for most and with a down economy, motorcycling will be down. I also think with the way things are going that our economy will not pick up anytime soon either. In a totaly pessimistic tone, I think we're SCREWED! The debt the contry has now, I see no recovery possible.

[Flyinfool]

Unfortunately I have to agree with Ace.

 

The "Cliff" has already come and gone, it is the sudden stop at the bottom that is coming quickly.

[GAWildKat]

I agree with both, AND everyone from companies to the government is to blame. My husband is a programmer and network engineer, at 33 yrs old still hasn't landed that nice IT job that could give us the stability we need into our middle age years. I don't want this to sound political, it's not my goal. I do the job searches for him knowing where his education and talents lie. Too many times I see entry level jobs that list 5+ years experience in X language/specialty. I learned that any company out there in the US can make up these ridiculous job listings that no one can meet all the qualifications for and let these postings languish for 6 mons to a year then petition the US government to apply for HB1 status on the position. That means the company can import a person from a country like India and pay them less than someone with as much education as Mike. Mike's current earnings worth based on his level of education should be $60,000+ not the $17k he struggles to get at Radioshack. Too many times I hear people complain that illegals are taking away our jobs. Let's face it. Most illegals are doing work most people with an education or pride would never be willing to submit themselves to doing. In my honest opinion it's the professional and highly trained trade jobs that aren't employing suitable American workers that have hurt this country.

[ACE50]

I agree with both, AND everyone from companies to the government is to blame.

 

Actually I put the blame squarely at the feet of the american people. Who elect the bozo's in goverment? We do! Just ask why people vote the way they do. Because so-and-so will do this or that for me. Not what's right for the country! We're doomed because NOBODY will give up their handout even if it means the country will fall.

Unions, welfare, food stamps, social security (most people pull out, or will, of it more than they have put in) now Obamacare. Yep, we're screwed!

 

Oh, and Merry Christmas!

[CaptainJoe]

One can feel sorry for themself or see the negatives in the world as fuel. Example; when taking a college course and it's starting to get old, think about what you will be doing if you don't pass.

 

The key to success is to select a goal, i.e. where do you want to be in ten years?

 

Then list the steps required to achieve it.

 

After that it's easy.

 

Next don't let anthing or anyone get in your way.

 

If you have to work a job or two to get by, then squeeze what you love to do in on the side, that's what you have to do. Whenever the job you love to do actually pays more than the job you need to do...quit one...

 

Thats what I did.... worked at odd jobs(got some fuel), selected a goal, went back to college, got a good job, bought a run down busniess, worked at both the job and busniess, tripled the Bsn. gross, retired at 49... pretty much doin as I please...

 

The only thing I miss about work, other that my friends of course is Free health care....

 

but everyones soon going to be in the same boat on that, one way or the other...

 

Don't worry about what you can't change. And above all else, don't blame someone else.

I've learned that it will only lead as an excuse to do nothing...

[Aimhigh]

Actually I put the blame squarely at the feet of the american people. Who elect the bozo's in goverment? We do! Just ask why people vote the way they do. Because so-and-so will do this or that for me. Not what's right for the country! We're doomed because NOBODY will give up their handout even if it means the country will fall.

Unions, welfare, food stamps, social security (most people pull out, or will, of it more than they have put in) now Obamacare. Yep, we're screwed!

 

Oh, and Merry Christmas!

 

 

[CaptainJoe]

 

 

Hummmmmmmmmm,

Whatever happened to the "Yes Sir, No Sir, No Excuse Sir":confused24:

[ACE50]

Sorry we2rider on the rant. Prob not what you wanted to hear. Merry Christmas anyway!

[GAWildKat]

My husband is on his 3rd IT degree, graduates next fall with his 2nd degree in programming. Has one in network engineering as well. All the feedback he gets says he's underqualified for entry level IT positions in either field. As soon as he finishes the coursework for the 2nd programming degree he'll be halfway to three-quarters (not sure how the credits transferred from his previous schools) through with his 2nd networking degree. At what point is someone in IT educated enough to be considered good enough for an entry level job? I'd really love to know that answer! Mike's not someone who barely get by in class, he's carried a 4.0 GPA for the last 2 years.

 

I have a college degree myself and was repeatedly told because I have a disability I wasn't fit to work anywhere and a liability to the companies for whom I'd work. For a few years I slaved working fast food and the like. I like being around people so it wasn't bad at all just the pay sucks. When my health took a nosedive I went for disability thinking I'd go back to school, be a singlemom and go back to work after getting degree #2. Unfortunately those plans didn't work out. However I'm a stay at home wife now, I make extra cash doing computer repair and custom builds and designs. (Ask dingy how his latest computer build I designed worked for him). My cashflow isn't steady and never will be. But $100 here and there helps out.

Edited December 19, 2012 by GAWildKat

[CaptainJoe]

I was in MIS. 3.8 GPA.

 

If he has a 4.0... the professor of the computer science dept. should be able to pull some strings for him.(provided he's on good terms with the dean)

 

At a 3.6 or above, you can walk in to federal gov agencies and apply directly for a job.

[deepforkriver]

Well, while I would love to help with your quest for a new homestead, you ruled out Oklahoma when you said "HUMIDITY". Sry. been in and out of the used bikes, 4 wheelers, 2 stoke business myself. But the "HUMIDITY" that's a deal killer....Sounds like you are headed to sunny Arizona, New Mexico or Southern Cali my friend.....best of luck to you.

[playboy]

Well, while I would love to help with your quest for a new homestead, you ruled out Oklahoma when you said "HUMIDITY". Sry. been in and out of the used bikes, 4 wheelers, 2 stoke business myself. But the "HUMIDITY" that's a deal killer....Sounds like you are headed to sunny Arizona, New Mexico or Southern Cali my friend.....best of luck to you.

 

Yeah same here more humidity. Not sure about the sales side of things in the motorcycle and atv side. But from the stream of trailers who come through town out of Texas loaded down with all types of ATV's nearly every weekend in the warm months. The fact you can't hardly get your bike worked on after August because of the ATV's in the shops. All of the great riding in the north west part of the state. Watching bikers heading north or where ever starting on Thursday and Friday while I'm still working I would say things are a lot better here than there our economy stinks too but I think we have got it lot better than a lot of folks and I'm thankful for that. Your welcome to come down and look around just give us a shout.

[Gojira]

I was gonna say Texas too. Economy seems ok there. I was in Dallas a few weeks ago and it seemed to be thriving. Lots of bikes out and about, and you can ride almost year round.

[BuddyRich]

Don't know about the sales but TX just keeps plugging away. I left CA in 07 just as it hit. Whole family followed within 2 years. None of them are out of work. Every time they went to look for a job they got one. All the way back to the early 70's I would wind up back in TX for work when it I could not find it up north in KY.

[CaptainJoe]

West Virginia haas some of the best ATV riding anywhere to be found.

 

Especially around the Hatfield Mccoy trail system. Charleston area.

 

DOHM ATV/Cycle shop average turnaround time to get something done to your ATV is 3 weeks to a month.

 

I use Riverfront Honda in Galloplis, Oh.

 

stay away from the sticks, the economy there is probably just as bad as Michigan.

 

Seems around the cities there is a lot of money floating around... Yuppies...go figure

 

We could use a few more wrenches around here, but Texas is probably your best chance.

Edited December 19, 2012 by CaptainJoe

[we2riders]

Wow,, thanks to all for the comments, they are all appreciated,, keep em coming..

Couple quick questions on the responses so far.

Does the humidity factor change greatly in Texas from east to west, north to south? It seems like the last time we biked thru the lone star was thru the panhandle and it was more like Oklahoma - humid.. As long as we are going to pull the plug here we would really like to get into dry climate (both of us suffer the usual old age arthritis pains..)

A very good prespective made about staying more toward town dwelling

than in the sticks.. I totally get that!!

A note of thanks and understanding to others sharing on our tough times, I feel your pain and share in it!! We really had some great years here in Michigan but times have changed.

I still believe in America and the American way, just gotta go find the solution..

My great great grand kids will probably end up migrating back to Michigan to be Automakers, gotta love life

[BuddyRich]

Yes, TX has all types of climates. East TX has the humidity. West TX is hot and dry. Where I'm at here in San Antonio its kinda of which way the wind is blowing. Some are hot dry days. Some are hot sticky days. Winters are fairly mild with 60's and 70's but some days in the 20's or 30's. But cold days are few and far in between. Heat settles in about mid may and stays till mid Oct. Lots of great lakes to get cooled off at. There are a bunch here that will reply though. We are only 2 and a half hours from the Gulf of Mexico also.