Where does an entrepreneurial idea come from?  From careful reading of an old text like What Color is My Parachute or its latest reincarnation, from the probing analysis of a life coach, or, seemingly, from nowhere – the proverbial bolt from the blue?  For me, it was the latter.  A year ago, bubbling in my brain like the three witches’ stew were a long-time fascination with classic sports cars, an awareness of the exotic car fractional ownership concept, and a desire to “catch a wave” to carry me through the last few years of work and into retirement.  Zap! – How about renting classic sports cars and connecting customers with the neat back roads of New England I’d been discovering while cycling?

A reasonably good idea is just a starting point, of course.  What entrepreneurs really need are passion and perseverance.  I’ve found I have some of both, and I’m about to launch Classic Cars and Byways (www.classiccarsandbyways.com).  I’ve also learned that you need to be prepared to soak up new knowledge like a five-year old.  That’s where Tony Merrygold comes in.

I learned that while there are few sports car rental companies in the States, there are over 60 in the UK.  And that one of the oldest, largest and most successful is Tony’s The Open Road (www.theopenroad.co.uk).  As I admired his website and imagined myself having an XK-E or a beautiful Healey to rent, I read an intriguing question: “Starting a Classic Car Hire Company?”  Yes! I said, this “A 1.5 day course covering; starting up, marketing, buying cars, customer service, finances, insurance” is for me!

I attended the course in January.  Tony and his guest speakers tell you, literally, everything you need to know.  You’ll walk away with a binder that has packed into it the accumulated wisdom of Tony’s 10 years of experience -- plus, added features such as a quick study on the economics and accountancy of the field, the sports car publishing market, and the personal insights someone just starting out.

Even more valuable than the facts, figures, advice and insights crammed into the binder, however, are some less-tangibles.  For example:

·        It’s not sugarcoated.  You will understand the not-so fun parts of the business and its economic realities.  You may decide it’s not for you, in which case Tony’s saved you a bundle.

·        It’s inspiring.  Tony conveys an attitude of cooperatively building the market rather than jealously guarding a little piece of it.  He took the initiative to set up contacts for me with two other companies back in the states I didn’t even know about.  They’ve become my best advisors. And Tony provides 12 months of mentoring for everyone who completes the course – priceless!

·        It’s fun.  One of the most memorable lines came from Richard Skelton from Summer Wine Classics, a start-up.  Richard’s opening question was, “Do you like to wash cars?”  Well, actually, I do, I said to myself – maybe this is for me.  There’s good wine, good food and good company.

I highly recommend Tony’s course.  Actually, I can’t imagine how anyone could start up a car hire business without stopping off at The Open Road first.

Don Buchholtz

Classic Cars and Byways

www.classiccarsandbyways.com 

20 June 2008