Thinking about starting a Repo Co.

[Bobmiddle]

I am thinking of starting a new business venture. I want to start a repo co. here in Las Vegas.

Let me give you a little background on me and some of my ideas.

I spent the first 18yrs of my life growing up and working in a bodyshop that my parents owned. Move out to Las Vegas at 18yrs old in persuit of an education and the dream of becomming a US Olymipian. After I graduated college and fell short of my olympic dreams as a swimmer (the US takes the top 2 in the country to the Olympics and I was 5th at the time) I have been looking for the career that will give me the excitement, freedom and the opportunitys that I want. I have gone through many jobs that I have found very unfufilling. I have gone from bartender to financial advisor to retail management all of which I was very sucessful at but none are what I really I want to do or enjoy. So I have come to the point where I a 30yrs old and want to make a change. A change for me and for the future fo the family I am trying to build. I feel that I can be a success at anything that I want to do.

Why Repo?
1. I did a quite few repos back when I was a Manager of an Enterprise Rent A Car branch. Granted the cars were rentals and the customers had less attachment to them. But I sure did get a kick out of it.
2. It is Las Vegas and the city has a very high Repo rate due to everybody living beyond their means. Business will be good.
3. I feel I have alot of connections that can help. My father in Law is a PI in town and will be a big help. (BIGG Dude that would love to go out on repos with me) Two brother in laws that are police officers in town also. And a soon to be sister in law that works at the court house too. A little inside info never hurt anyone.

I was thinking about starting it as a one man show. Me and a truck, taking the brothers along when ever they can come.

Yes it is Dangerous and I can handle my self.

Please give me any input, advice or experiences that you might have.

[Richy04]

If you cant do it with a piece, dont bother.. Its dangerous work and if you cant jam a Glock in some dudes face that wants to kill you over a car, you are begging for problems.

[Aren Jay]

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[Blk Mamba]

I envy you, I always had a good time, but it can be dangerous, you know, be careful, and don't trust any of them.

[Rocknthehawk]

Dangerous work is best left to others who either don't mind getting hurt, think they are invulnerable or lucky.

If you need excitment try something where people are not going to be shooting at you, or if that is what you want join the army.
The Taliban will give you all the excitement you could ever need.
Your government will pay you to do this and you get to travel, free rent, free food, free medical when you do get shot.

Personally I would rather race my Marauder on a street course, lots of fun, excitement and in Vegas there should be opportunity.

You sound as if the money is not the problem, just that you need excitement. There are sane ways to have excitement and not so smart ways. Repo is great if your in the towing business and need to expand, not so great if your doing it to get off on the rush.

Try Hang gliding? Bungee Jumping? Parachutes? How about a Paint ball business for the tourists? Or a used car dealership.

Do you want to spend your life dealing with the losers in life or the winners.

Although i don't agree 100%, i like the last line. Well sed on the excitement.

[Motorhead350]

Watch Repo Man and few times and remember how bad it can get. BTW I just found the soundtrack on vinyl!

Sounds like you have the right idea and a lot of support so to say. Go for it, but never work alone or with amatures at first.

[Dragcity]

Is there a "Confidentiality" issue with your connections? Don't want anyone loosing their jobs while helping out in your endevor....

[Bobmiddle]

All valid points guys thanks for the input. I might look at contacting a few of the repo co in town and do a ride along. Yea you will have to deal with some bad people but that is life. I will have to do some more research and make sure Mr. Glock can ride along.

One of the big concerns is going to be how to market to the dealers and creditors.?

[imorb1994]

One of the big concerns is going to be how to market to the dealers and creditors.?

If you do start a repo company advertise it(doesn't have to be, big phone book is enough)then keep them happy and soon the contracts will start rolling in. I work for a regular tow company and all the time we get requests to do repos for banks and creditors. Problem is we don't have enough storage space to do very many, In my area the sometimes don't come to pick up their vehicles for a long time(as much a 90-120 days).
Although Im sure things would be different in large cities.

[Richy04]

Want excitement? Do this!!!


http://vimeo.com/moogaloop.swf?clip_id=1778399&server=vimeo.com&show_title=1&show_byline=1&show_portrait=0&color=&fullscreen=1


<object width="400" height="219"><param name="allowfullscreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="movie" value="http://vimeo.com/moogaloop.swf?clip_id=1778399&amp; server=vimeo.com&amp;show_title=1&amp; show_byline=1&amp;show_portrait=0&amp; color=&amp;fullscreen=1" /><embed src="http://vimeo.com/moogaloop.swf?clip_id=1778399&amp; server=vimeo.com&amp;show_title=1&amp; show_byline=1&amp;show_portrait=0&amp; color=&amp;fullscreen=1" type="application/x-shockwave-flash" allowfullscreen="true" allowscriptaccess="always" width="400" height="219"></embed></object><br /><a href="http://vimeo.com/">wingsuit base jumping</a> from <a href="http://vimeo.com/thedoctor">Ali</a> on <a href="http://vimeo.com">Vimeo</a>.

[Aren Jay]

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[Vortex]

https://secure.military.com/Recruiting/page1.do?ESRC=cbggl_join2.kw

[TAKEDOWN]

With the economy down and people living beyond their means mixed with unemployment, hmmm... sound like a great job/career to me!

[BODYMAN]

All valid points guys thanks for the input. I might look at contacting a few of the repo co in town and do a ride along. Yea you will have to deal with some bad people but that is life. I will have to do some more research and make sure Mr. Glock can ride along.

One of the big concerns is going to be how to market to the dealers and creditors.?

My buddy is one of the bigger repo co's in St louis you have to get a in with the financial co's thats youre bread and butter he used to be a finance manager at a local delaer so he had a in when he started it 15 yrs ago he now has 4-trucks and 6 employees his bus is great in this economy! Do you have family? that would be a huge factor, he asked me to do some jobs with him and I dont have interest due to the fact Iam not going to leave a 4 and 2 yr old without a dad if something happens thats something to think about. He has also been getting alot of work lately from these dealers buy here pay here. If you do it I wish you the best of luck:beer:

Todd