Who all ordered an OFI kit!!!!
I am on Joel's side as far as starting a business is concerned. I am in the same boat. I am opening up my own turbo shop catering to the LS1 crowd. It is a pain the the butt for sure, but I feel it will be worth it in the long run.
Like I said before. Some bad business decisions were made by Joel, but he has a nice product and it should be well woth the wait.
I have limited my self to a very small shop. I will only offer kits for sale that I can ship with in 3 days of payment. This limits me to roughy 4 kits at a time at start up. I will grow from there. I think about the amount of kits I could crank out if I were to take a 50% deposit on them all. Hell I could move up to 20 or so kits. I wont do that though because I have learned from the mistakes of other that is in not a good business move.
Joel hang in there and take care of the prepaid orders. Then sit back and rethink the taking deposits thing. It's not worth the hassle man.
Like I said before. Some bad business decisions were made by Joel, but he has a nice product and it should be well woth the wait.
I have limited my self to a very small shop. I will only offer kits for sale that I can ship with in 3 days of payment. This limits me to roughy 4 kits at a time at start up. I will grow from there. I think about the amount of kits I could crank out if I were to take a 50% deposit on them all. Hell I could move up to 20 or so kits. I wont do that though because I have learned from the mistakes of other that is in not a good business move.
Joel hang in there and take care of the prepaid orders. Then sit back and rethink the taking deposits thing. It's not worth the hassle man.
What gets me and everyone else is that we are getting pm's about paying the remainder of our balance when he does not have anything to ship.
Seems to me like there might be a money issue?
Seems to me like there might be a money issue?
Originally Posted by 1INSANEGTO
What gets me and everyone else is that we are getting pm's about paying the remainder of our balance when he does not have anything to ship.
Seems to me like there might be a money issue?
Seems to me like there might be a money issue?
Its one thing when kits aren't shipping cause you are waiting on suppliers or coaters or whatever. It is another if Joel doesn't at least have enough money to complete the kits that have been ordered.
That is really troubling.
TTT.
Someone needs to stop by and talk to Joel ASAP! Things are not looking up. If there is money trouble on his part we need to know. I feel this is the reason why things are getting held up and he the reason why he is asking for the remainder of the balance due.
Someone needs to stop by and talk to Joel ASAP! Things are not looking up. If there is money trouble on his part we need to know. I feel this is the reason why things are getting held up and he the reason why he is asking for the remainder of the balance due.
Originally Posted by 1INSANEGTO
TTT.
Someone needs to stop by and talk to Joel ASAP! Things are not looking up. If there is money trouble on his part we need to know. I feel this is the reason why things are getting held up and he the reason why he is asking for the remainder of the balance due.
Someone needs to stop by and talk to Joel ASAP! Things are not looking up. If there is money trouble on his part we need to know. I feel this is the reason why things are getting held up and he the reason why he is asking for the remainder of the balance due.
stocking 10 turbos can cost $15000 of upfront money on just the turbos alone...
Perhaps Joel should have mention up front how the money was to be dispersed... but this is how its gonna be for awhile. There isnt alot of money to be made in turbo kit fabrication.
On The Tree
Joined: Sep 2006
Posts: 141
Likes: 0
I spoke to him just now, he says some of us will have stuff before xmas......
the other guy is working on the Intercoolers
said he does not order the turbo until the last minute cause he does not like to keep that much high $$ inventory around, understandble
joel I gotta have mine before xmas, no if ands or buts man. Thanks for the update
the other guy is working on the Intercoolers
said he does not order the turbo until the last minute cause he does not like to keep that much high $$ inventory around, understandble
joel I gotta have mine before xmas, no if ands or buts man. Thanks for the update
LS1TECH Sponsor
Joined: May 2006
Posts: 625
Likes: 0
Originally Posted by RealQuick
He probably has one turbo/wastegate for mockup and in order to finish the kits and order the other wastegates and turbos for everyone, he needs the remainder of the balance.
stocking 10 turbos can cost $15000 of upfront money on just the turbos alone...
Perhaps Joel should have mention up front how the money was to be dispersed... but this is how its gonna be for awhile. There isnt alot of money to be made in turbo kit fabrication.
stocking 10 turbos can cost $15000 of upfront money on just the turbos alone...
Perhaps Joel should have mention up front how the money was to be dispersed... but this is how its gonna be for awhile. There isnt alot of money to be made in turbo kit fabrication.
That exactly whats going on pretty much. There really isnt alot of money is this as of right now. Im hopeing in the long run that there will be and I can live off of it. Just stick with me here. There are plenty of local people that have stopped by that have posted of here. Just stick with me and you will have a kit.
LS1 Tech Stories
The Best V8 Stories One Small Block at Time
6 Common C5 Corvette Failures and What's Involved In Repairing Them
Pouria Savadkouei
Retro Modern Bandit Pontiac Trans AM Comes With Burt Reynolds' Autograph
Verdad Gallardo
Top 10 Greatest Cadillac V Series Performance Models Ever, Ranked
Pouria Savadkouei
Top 10 Most Powerful Chevy Trucks Ever Made!
Hennessey's New Supercharged Silverado ZR2 Has 700 HP
Verdad Gallardo
Coachbuilt N2A Anteros Is an LS2-Powered C6 Corvette In Italian Clothes
Verdad Gallardo
Awesome K5 Blazer Restomod Comes With C7 Corvette Power
Verdad Gallardo
10 Camaros You Should Never Buy
10 LS Engine Myths That Refuse to Die
Verdad Gallardo On The Tree
Joined: Sep 2006
Posts: 141
Likes: 0
Originally Posted by tt427ls1
That exactly whats going on pretty much. There really isnt alot of money is this as of right now. Im hopeing in the long run that there will be and I can live off of it. Just stick with me here. There are plenty of local people that have stopped by that have posted of here. Just stick with me and you will have a kit.
Reason people are getting so crazy about this whole deal is because of stuff that has happend in the past with other companys. Joel seems like a pretty stand up guy and comes out with some badass stuff. But I will say this again! The people you are out sourcing to are killing your bussiness. I am sure once he gets the hang of everything he will be selling these left and right due to the high quality of work he does. Esp for the F-body crew because almost all the kits I see you need to lose the a/x and other crap.
Joel there is big money clients who will pay the money for your work. Hell if everything does in on the good side I plan to get you to do a OFI twin turbo kit for my 1997 4V Cobra.
Again there is nothing in this thread that is harsh toward Joel. Simple fact is that we want up dates weather it be pics of work completed or him showing stuff in jigs. We just want something.
Joel there is big money clients who will pay the money for your work. Hell if everything does in on the good side I plan to get you to do a OFI twin turbo kit for my 1997 4V Cobra.
Again there is nothing in this thread that is harsh toward Joel. Simple fact is that we want up dates weather it be pics of work completed or him showing stuff in jigs. We just want something.
TECH Addict
Joined: Apr 2002
Posts: 2,417
Likes: 0
From: Waldwick, NJ
Originally Posted by RealQuick
Starting a small business from scratch isnt easy. Its costs money for materials and even more money for small quantities. You think a business person should just order materials per customer... thats ridiculous if you do. You save alot of money when buying 20 header flanges versus 2 header flanges (just an example). Not to mention the success of 1 kit can result in 50 ls1tech members ready to dish out deposits... which in turn means Joel needs that money to order large quantities of supplies for the kits. It would cost Joel $10k out of pocket to stock only 2 kits. If thats the case, I am sure Joel would want to be doing something else other than turbo kits.
If a start up company needs money, they go to a bank. A bank is willing to assume risk of failure at a certain fee (interest rate), we give our money away for free. If the start up company goes under, the bank has many options, all we have is bitching on the interent and stripping their sponsorship.
If a bank doesn't want to offer a loan to a start up company, or god forbid even a credit card company doesn't want to offer a credit line....Then that is saying something about the owner of the company
LS1TECH Sponsor
Joined: May 2006
Posts: 625
Likes: 0
Originally Posted by 2002 Trans Am
Ahhh you see that is where you are wrong. This isn't "The Bank of LS1Tech" we don't have a loan loss reserve, we don't charge interest on our loans, we don't have insurance companies backing us, we don't invest our clients clients savings, we don't sell off loans, we don't do a lot of risk management.
If a start up company needs money, they go to a bank. A bank is willing to assume risk of failure at a certain fee (interest rate), we give our money away for free. If the start up company goes under, the bank has many options, all we have is bitching on the interent and stripping their sponsorship.
If a bank doesn't want to offer a loan to a start up company, or god forbid even a credit card company doesn't want to offer a credit line....Then that is saying something about the owner of the company
If a start up company needs money, they go to a bank. A bank is willing to assume risk of failure at a certain fee (interest rate), we give our money away for free. If the start up company goes under, the bank has many options, all we have is bitching on the interent and stripping their sponsorship.
If a bank doesn't want to offer a loan to a start up company, or god forbid even a credit card company doesn't want to offer a credit line....Then that is saying something about the owner of the company
TECH Addict
Joined: Apr 2002
Posts: 2,417
Likes: 0
From: Waldwick, NJ
Originally Posted by tt427ls1
I really hope that isnt aimed at me, b/c you have no Idea what I have went threw in my life so far.
Nope, not at all. I like you and certainly am rooting for you. I think you have a big time product and will flourish once you get over this hump. I don't think you have any credit/cash issues.
I was talking about start up companies in general.
LS1TECH Sponsor
Joined: May 2006
Posts: 625
Likes: 0
Originally Posted by 2002 Trans Am
Nope, not at all. I like you and certainly am rooting for you. I think you have a big time product and will flourish once you get over this hump. I don't think you have any credit/cash issues.
I was talking about start up companies in general.
I was talking about start up companies in general.
Think about it like this Joel.
How many companys have came out with a true turbo kit that was streetable and bolted in so easy? As in streetable I mean keeping all of your ***. That is what everyone wants these days. Have a badass car and still have the a/c blowing.
Like I said as far as the GTO crowed me a turbogoat have you covered as far as how much can a OFI kit on a GTO take. I know for a fact it will blow gentt, genttR and aps out of the water.
How many companys have came out with a true turbo kit that was streetable and bolted in so easy? As in streetable I mean keeping all of your ***. That is what everyone wants these days. Have a badass car and still have the a/c blowing.
Like I said as far as the GTO crowed me a turbogoat have you covered as far as how much can a OFI kit on a GTO take. I know for a fact it will blow gentt, genttR and aps out of the water.
9 Second Club
Joined: Nov 2003
Posts: 13,616
Likes: 185
From: Norn Iron
A lesson should be learnt here, on both sides, which in the long term would probably benefit everyone.
People should stop trying to build these kits on the cheap for people. ( dont take that the wrong way )
The amount of time and effort put into fabricating these kits must be huge, and for someone to then try and sell it on, without making a sensible wage/profit from it, is madness really.
Im not saying charge too much, but lets face it, given the costs and time involved, it has to be worth while, otherwise it is pointless as a business venture, especially when the seller is going to get grief now and again from customers ( whether justified or not )
Its a huge financial outlay for anyone to start up producing a lot of kits ( nevermind the work ), the profits involved should reflect that, which then in turn will assist with expansion or faster building of future kits, THEN the price can come down.
People should stop trying to build these kits on the cheap for people. ( dont take that the wrong way )
The amount of time and effort put into fabricating these kits must be huge, and for someone to then try and sell it on, without making a sensible wage/profit from it, is madness really.
Im not saying charge too much, but lets face it, given the costs and time involved, it has to be worth while, otherwise it is pointless as a business venture, especially when the seller is going to get grief now and again from customers ( whether justified or not )
Its a huge financial outlay for anyone to start up producing a lot of kits ( nevermind the work ), the profits involved should reflect that, which then in turn will assist with expansion or faster building of future kits, THEN the price can come down.
I think succese is directly based on effort. Joel semms to be putting forth the effort to produce a quality kit. If it all pans out in the end he will have a successful business on his hands.
Joel went out and offered several kits for the GTO and F-Body crowd. He is doing so on his own. He opened his shop with a bigger market up front.
Me on the ther hand, am starting small. Low overhead and a product limited to the F-Body crowd. This keeps my business small and dictates a steady rate of growth.
Just my opinion from a shop's stand point.
Joel went out and offered several kits for the GTO and F-Body crowd. He is doing so on his own. He opened his shop with a bigger market up front.
Me on the ther hand, am starting small. Low overhead and a product limited to the F-Body crowd. This keeps my business small and dictates a steady rate of growth.
Just my opinion from a shop's stand point.
Joel, just an idea I was thinking about, what if you maybe sold people the kits built around whatever turbo they want but don't offer them with the turbo have the cust buy the turbo themselves. Then if you need to fit it have them send it to you. That way you can focus the deposit money on less expensive stuff like tubing, welding supplies, intercoolers, etc. Not that that stuff isn't expensive too, just thought maybe that would ease the monetary stress a bit.
Maybe a stupid idea but I can see where buying a bunch of turbos can cost alot of upfront $$. Plus most people want a different turbo then the base setup anyway.
Maybe a stupid idea but I can see where buying a bunch of turbos can cost alot of upfront $$. Plus most people want a different turbo then the base setup anyway.
The thing is I thought that Turbo companys were not to presell unless product was ready to be shipped. I think that came straight from NINEBall himself. No taking alot of peoples money and messing people around. Not saying that Joel will but thought that was new rules when he rejoined under OFI from Gmr.
TECH Addict
Joined: Apr 2002
Posts: 2,417
Likes: 0
From: Waldwick, NJ
Originally Posted by tt427ls1
Ok...I also think my product is huge. I just didnt think it was going to get this big.
or it could be the 1st set of parts a customer received and no one was bitching about the welds looking like someone took a **** on them 
Enjoy your holidays