How to Start an Antique Car Business

Many people would like to refurbish their antique cars but don't have the skills to do it. If you have a passion for antique cars and the skills to restore them to their original appearance, consider starting an antique car business and provide this service to those that need it. You will also be finding and restoring antique cars and then reselling them for profit.

1. Create a business plan. Outline the financing, staffing and marketing aspects of your business. A well written business plan can serve as a guide as you start and operate your business, and will ensure your business is a success. Visit the Small Business Administration website and use their free resources to assist you in drafting your business plan for your antique car business.


2. Register your antique car business. Obtain a business license from your city or county and all other permits required by your state. Contact the business licensing department in your area for more information.


3. Obtain funding. Approach banks and other lending sources and apply for a business loan. Make sure you check your credit report before seeking a loan from lenders. If there are any derogatory entries on your credit record, get them removed so as to increase your chances of getting approved for the loan. Consider other ways to secure funding if you don't get approved such as getting a business partner who has the capacity to secure funding.


4. Find a good location. Look for a commercial location that provides you with adequate space to accommodate your antique car company. Seek out a property that provides an indoor garage area so that you can store and work on antique cars and also protect them from bad weather conditions. Be sure that the space contains an office area to store your financial records and information.


5. Purchase equipment and supplies. Go to auctions and sales to purchase antique cars that you can restore and resell for a profit. Buy needed parts for repairing these vehicles to good condition. Purchase the office supplies you need to manage your business's finances.


6. Employ qualified staff. Hire an office assistant to take phone calls, attend to customers and handle the financial aspects of the business. Get well trained and experienced mechanics to do the repairing and restoring job on the antique cars.  


7. Promote your antique car business. There are many ways you can promote your antique car company. Join the local chapter of antique auto clubs such as the Classic Car Club of America. Introduce yourself and your company to members and let them know what services you provide. Set up a website to promote any cars you have finished restoring. You can promote to collectors on websites like AutoTrader Classics and ClassicCar.