MTFCA Forum

CHAFFIN'S GARAGE ING. OUR RETAIL SALES ARE OVER $500,000.00/YEAR. WE MANUFACTURE OVER 300 NEW PARTS FOR THE MODEL T FORD, INCLUDING THE RUCKSTELL AXLE, NEW CAMSHAFTS, HIGH VOLUME INTAKE AND EXHAUST MANIFOLDS, RING AND PINION GEARS, ALL OF THE FRONT AND REAR SPRING SHACKLES, CLUTCH SPRING, BOSCH PLATE DISTRIBUTOR, BRASS ROBE RAIL AND THE LIST GOES ON AND ON. WE WHOLESALE TO ALL OF THE OTHER DEALERS. WE HAVE TRIED TO SELL THE BUSINESS AT A LOSS. HAVE HAD LOTS OF INTEREST BUT NO ONE HAS THE MONEY. MY SON MARK WOULD LIKE TO TAKE OVER BUT HE IS HAVING PROBLEMS WITH RETIRING FROM THE SHERIFFS DEPT. SO I AM MAKING ONE LAST REDICULOUS OFFER. WE HAVE ASSETS OF APPROXIMATELLY 1.3 MILLION. WILL SELL EVERYTHING INCLUDING ALL INVENTORY, PATTERNS, CORES, TOOLING AND PRINTS FOR MANUFACTURING OFOUR PARTS FOR $850,000.00. WE HAVE THAT MUCH JUST IN INVENTORY. if THERE IS NO BUYER I WILL JUST WAITE TO SEE WHAT HAPPINS WITH MARK OR THE BUSINES WILL JUST DIE WITH ME

I thought you sold this to mark

ROBERT, MARK MAY BUY IT ON TIME BUT CANNOT UNTIL HE GETS HIS RETIREMENT PROBLEMS WORKD OUT. HE WAS SUPPOSE TO RETIRE IN MAY BUT THAT DIDN'T HAPPEN. I'M NOT GETTING ANY YOUNGER AND WANT TO WORK ON MY CARS. SO IF SOMEONE ELSE BUYS IT AT A REDUCED PRICE I CAN RETIRE AND INVEST THE MONEY.

Can't believe there isn't someone in the hobby who doesn't want to be the next major supplier of Model T Ford parts. Especially when all of the hard work has been done and paid for and costs you nothing..

Tell me about it, same thing here, Bob

The hardest part is done! Take it and run, I just don’t get it either Glenn.

All the Best,

Hank

Fatman, Henry, What do you not understand? We have approximately $1.3 million in assets, including $850,000.00 in inventory. We have approximately $300,000.00 invested in patterns, cores and tooling for manufacturing the parts that we manufacture. We also have a lot of shelving, cabinets, desks and other business equipment. In addition we have a beautiful catalog that can be used regardless of the company name and all of the drawings and paperwork for the 300 parts that we manufacture. When we are asking $850,000.00 that means that you are buying the inventory at wholesale cost and getting everything else for free. I hope this makes it clear. It is a give away price. It has taken 46 years to develop to this point and has been quite successful and now I just want to retire.

Glen I meant why someone has not jumped on your offer!!

What the? Over!

Hank

Maybe, just maybe some think you are going to give it to them! Laughing with you never at you ole man!

The following are a few of the many parts that we manufacture for the Model T Ford. All parts are sold wholesale to the other dealers. The Ruckstell Axle and all parts thereof, The 40 tooth Ruckstell Ring Gear, 9, 10, 11, 12, and 13 Tooth Pinion Gears. Our book, Glover E. Ruckstell and the Ruckstell Axle, New High Performance and Stock Ford Camshafts, Bosch Front Plate Distributors and all parts, Bosch Distributor Conversion Kits, Bosch Gears, Ford Faithful Oiling System, Hardened Rear Axle Sleeves, All of the Front and Rear Spring Shackle Sets, Early and Late, High Volume Intake And Exhaust Manifolds, Windfield Intake Manifold, Bushing Removal Tools, Stevens Transmission Gear removal tool, Rear Axle inner Seal set, Neoprene, Rear Axle Ring Gear and Thrust Washer Shims, Brake Drum Shoes, Transmission Clutch Spring, Early Firewall Shields, Side, Tail Lamp and Head Light Bracket Sets, Early Crank Handles, Early Brass Fan Hub, Crankshaft Pulleys, Fan Bracket Arms, Early Speedometer Drive Mounting Sets, Early Carburetor Control Rods, Misc. Starter and Generator Brush Springs, Field Screws and terminal nuts and bolts. Wood Coil Boxes, Windshield hinge pin bolt, spring and nut sets, Windshield Glass Clamps and hundreds of other nuts, bolts and small parts for the Model T Ford.

Glen. After well over a year still no traction. What ever You are doing to try and sell Your Business is "NOT WORKING". The Bottom line. Is the Bottom line. If Your offer makes Business sense and is advisterized in a venue where people are looking for a business opportunity it will sell! You need to rethink the situation and try to think like a Buyer and see what it would take for You to become interested and buy Your own business if You were on the outside looking in as a entrepreneur Trying to find a Business to buy.
Good Luck

Novice, I am no NOVICE at selling. I have been selling Model T Ford Parts quite successfully for 46 years. A business is usually sold for a profit, not a loss. At first I tried to sell the business at cost, There was a lot of interest but no money. Now I am willing to sell at a $450,00.00 loss but same problem. If no one is interested that is their loss, not mine. I do not have to sell. The business has left me quite comfortable and all I want is Just to retire. It is disappointing that there is no one who cares enough about the hobby to help keep it going. I guess I am a dying breed.

Glen,

I only have the greatest respect for you with regards of the man, his business, and contributor to the hobby.

I am in the same boat sort of with trying to mentor others. It is sad as a bygone era so to say, but with the economy what it is, current climate of young people and their long term outlook.

Is any of this to do with since you are in California? Is there a Grandfather Clause for the business changing hands with the state government and their odd rule book? I am still at wits end myself locally so to say. My bride and I are blessed with 3 Godchildren, but they all live in England. They can easily move what they want there and set up shop, All the work is done.

I wish you only the Best Mr Chaffin as you have deserved it!

Yours Humblely,

Hank in Tin-A-See

I see several problems with selling the business. The value of the business is not one of them. Not many people that are at or near retirement want to start running a business, most likely the entire business including inventory needs to be relocated to where the new owner is, the owner needs to know how to manufacture the parts you make and be able to be competent at doing so, the person needs to be young enough to have the energy and drive that it takes to continue the success, they need the capital to purchase and relocate the business including leasing or owning the buildings necessary for it, and they need to be interested in Model T’s. Not many people have that amount of money available to them so they need to qualify for a loan and be in business long enough to not lose money on it. Obviously an over simplification of it all as it’s even more complex than this. However, one can see how it leaves a very small set of people that are even a possibility and even less that are actually willing to take it on. Good thing that you only need one to do it. If the business was near someone they might be interested in becoming a partner with you but I am sure you already thought of that. I have the greatest respect for you and what you have done and do hope that someone continues it on.

Thomas, I cannot disagree. It takes a lot of dedication to make a business successful. But I think you will agree that a business is quite successful when you start with a small $2,000.00 inventory and grow that to near $1,000,000.00 with out borrowing a single dollar. Thank you for your comments Glen

Another way of looking at it might be to just post that you will be closed for a couple of weeks, months, etc.

Take time for yourself, run the business, don’t let it run you. Your peace of mind and health is first! Sometimes having a lock and key with a light switch is better than tending livestock. But then again, sometimes it is the other way around.

Again, All the Best,

Hank

I understand all your used parts were sold to someone in Canada.
Is this correct?

The fellow in Canada swears he is going to buy our used parts and wants them very much. Especially at 0.15 on the dollar. However, he is having problems with transportation to Canadas and has nor given us a deposit. So as far as I am concerned the parts are still for sale.

Henry, I love supporting the hobby and would hate to just close my doors. If I did a lot o dealers and customers would loose the source of a lot of their parts. I doubt that any dealer would be willing to invest the money to replace the parts that we manufacture.

bump

LAST BUMP

No longer for sale. Hope to be around for many more years to come.

Amen! Chaffin's helps keep the Model T hobby alive and our cars on the road. Thanks!

Mark, Congratulations on keeping the business going and staying within the family.

Our pleasure. Thank you all for your ongoing support!

Mark,
I think I emailed you before about this but if you ever want to revamp your site or make a modern online store front for Chaffin's garage, I would be very interested in volunteering my time on that front. Glad to hear that we are not losing one of the most complete Model T part manufacturers there is.

Thanks Matt. Email sent.

ianmitch wrote: ↑

Tue Apr 04, 2023 11:55 am

Hey there, I'm interested to know why you're selling your business. It sounds like you have a lot of assets and inventory, so it's surprising that you haven't been able to find a buyer. I'm actually thinking of investing in a business myself, so this caught my attention. It's important to do as much research as possible before making any investment decisions, though. That's why I recently discovered financial advisory valuations at https://www.successionresource.com/valuation.It's always good to have as much information as possible before making any big moves. Best of luck with your business sale!

No longer for sale. Read the whole text string...

Jerry

check his posts...he's a bot or a Troll...posted twice to the Chaffin's ad with two different types of postings

Scott_Conger wrote: ↑

Tue Apr 04, 2023 12:14 pm

Jerry

check his posts...he's a bot or a Troll...posted twice to the Chaffin's ad with two different types of postings

Darn it! I've been trolled!

there's worse things in life!

I recently sold a Subaru business of 35 years, grossing just under 3 million annually. I owned everything outright no borrowed money. I decided to sell and had a business professional do the appraisal. We ran the business with minimal staff and overhead and our net was according to the appraiser unbelievable. This business was a gold mine from the day I started.

I really wanted to sell and priced it 250,00.00 below appraisal. The appraised value of parts and equipment was in excess of $800.000.00. Not counting blue sky. After several months on the market, I lowered the price and sold it on time to my manager.

The simple fact is no one with the kind of cash wants to buy a job. They would rather invest in real estate or the stock market and sleep in take lots of time off and play. I suggest lower your price take a contract backed by real estate and retire. Thats exactly what I did and I'm loving life, sleeping in, no employee issues no customer problems and just restoring my cars, life don't get no better than this.

just sayin'

frontyboy

Dad submitted this post nearly four years ago when he was attempting to sell the business. Over the course of the following months, he liquidated much of the inventory at a discount rate. I ended up purchasing the business and the remaining inventory. We have spent the past three years replenishing the inventory. We're still working toward that goal. We hope to continue serving the Model T community for years to come. Thank you for your continued support.

Lots of people in this hobby know and love the Chaffin family! We cannot thank you enough.

Dave and I appreciate the support. We wouldn't be here without it. Thank you all.

ianmitch wrote: ↑

Mon Mar 20, 2023 8:29 am

I stumbled upon your post about your business for sale and I must say, it sounds like an interesting opportunity. I'm sorry to hear that you've had trouble finding a buyer so far. Have you considered seeking the advice of a business broker or consultant?

Administrator please remove this post, is hacking by bad intention

Remove EMILY TOO