Starting a Mechanic Shop? Four Things to Consider
If you’re a skilled and experienced mechanic but have grown tired of working for someone else, starting your own mechanic shop could be a great move. You’ll have the freedom and flexibility to manage your shop the way you want, and you’ll retain 100% of workshop profit—but if you’re thinking about going out on your own and starting a mechanic shop, there are a few things you need to consider first. 1. Administration involved with starting a mechanic shop There are a few administrative tasks you’ll need to take care of to be able to operate a business in Australia. While requirements vary based on your location, this generally includes: Deciding on a business structure Registering for an Australian Business Number (ABN) and register for Goods & Services Tax (GST) Setting up accounting and record keeping systems Obtaining required licenses or permits, and ensuring you’re complying with any legal and tax obligations Organising any insurance you might need 2. Setting up your workshop