Oh...SpeedStars is for sale!

[ianS]

Today, I saw an ad from Ming pao(local chinese newspaper)... our old friend... SpeedStars is for sale... :( kind of sad to see some old friend running out of business :o

[christyles]

Today, I saw an ad from Ming pao(local chinese newspaper)... our old friend... SpeedStars is for sale... :( kind of sad to see some old friend running out of business :o

It is sad. I saw it coming. Sorry Michael Soon. But business is about networking, customer service and follow up which they lacked very much.

Ian, did they say how much it's going for?

[ianS]

It is sad. I saw it coming. Sorry Michael Soon. But business is about networking, customer service and follow up which they lacked very much.

Ian, did they say how much it's going for?

$198,000

[christyles]

$198,000
Is that for the business name/place/equipment/stock inventory/employees?

[audiophilia]

Geez, just when I was going to hit them up for advertising.:)

Seriously, maybe the fellow wants out and business is okay. Never know. Good luck to him.

His was the store that was the 'temple' of another board. I remember a thread of mine on that board being shut down cuz I asked where were the good BMW accessories' stores in Toronto. I was told 'you can find all you need at Speedstars' CLOSE.:D

I went. There was one rim set and an ACS pedal set that when he told me the price, I actually thought he was joking. The fellow was very nice, but there was no stock. I was used to Honda stores -- tons o rice in every quadrant of this city. There didn't seem to be any BMW stores. I didn't know that most was done by mail order. I like to touch and feel...:)

Anyway...the store and the board are going or gone. And yes, I do hold grudges...for a long time.:yak:

[ianS]

Is that for the business name/place/equipment/stock inventory/employees?

It should be $189,000 including all equipments and the rent contract. Chris, if you are interested, just give Michael a call for more detail, sure he will give you a good deal.

[christyles]

Geez, just when I was going to hit them up for advertising.:)

Seriously, maybe the fellow wants out and business is okay. Never know. Good luck to him.

His was the store that was the 'temple' of another board. I remember a thread of mine on that board being shut down cuz I asked where were the good BMW accessories' stores in Toronto. I was told 'you can find all you need at Speedstars' CLOSE.:D

I went. There was one rim set and an ACS pedal set that when he told me the price, I actually thought he was joking. The fellow was very nice, but there was no stock. I was used to Honda stores -- tons o rice in every quadrant of this city. There didn't seem to be any BMW stores. I didn't know that most was done by mail order. I like to touch and feel...:)

Anyway...the store and the board are going or gone. And yes, I do hold grudges...for a long time.:yak:True say. but if that WHOLE thing, like complete package is going for $198K, guess who wants to move in.

I've eyed that location from day 1. I even tried to rent out his 2bays at 1 point (now presently being rented out by someone else.) He was charging me $3K just for rent in Scarborough! No utilities nothing... Just space. i said.. later.

[christyles]

It should be $189,000 including all equipments and the rent contract. Chris, if you are interested, just give Michael a call for more detail, sure he will give you a good deal.
yeah... guess who's calling... I only want the building location. Lost the staff. I can find better guys. Thanks Ian.

No offense to Speedstars. It's just business.

[audiophilia]

True say. but if that WHOLE thing, like complete package is going for $198K, guess who wants to move in.

I've eyed that location from day 1. I even tried to rent out his 2bays at 1 point (now presently being rented out by someone else.) He was charging me $3K just for rent in Scarborough! No utilities nothing... Just space. i said.. later.
giddyup...call them then the Business Development bank of Canadawoot

[Whiplash-GT]

I was used to Honda stores -- tons o rice in every quadrant of this city.

:Qboy:



:wink2:

[audiophilia]

:Qboy:



:wink2:
Hey Bud...we shopped for quite a bit of rice in our time...:yak:

[carbonM3]

Geez, just when I was going to hit them up for advertising.:)

Seriously, maybe the fellow wants out and business is okay. Never know. Good luck to him.

His was the store that was the 'temple' of another board. I remember a thread of mine on that board being shut down cuz I asked where were the good BMW accessories' stores in Toronto. I was told 'you can find all you need at Speedstars' CLOSE.:D

I went. There was one rim set and an ACS pedal set that when he told me the price, I actually thought he was joking. The fellow was very nice, but there was no stock. I was used to Honda stores -- tons o rice in every quadrant of this city. There didn't seem to be any BMW stores. I didn't know that most was done by mail order. I like to touch and feel...:)

Anyway...the store and the board are going or gone. And yes, I do hold grudges...for a long time.:yak:

grudges or not...its sad to see a business go

[christyles]

its sad to see a business go
yeah... something like 60% of new businesses fail within their first 5 years. that's a harsh percentage for success rate in opening a business.

I too... speaking for Premier am very carfeul about moves made to keep costs down as much as possible. And not to go overboard like most do. Everything is a calculated step with plenty of research.

I wonder if Michael will do something else or try to start something else. Speedstars had lots of potential. Scarborough is still very much unsaturated in terms of the direction he was trying to go...

[carbonM3]

yeah... something like 60% of new businesses fail within their first 5 years. that's a harsh percentage for success rate in opening a business.

I too... speaking for Premier am very carfeul about moves made to keep costs down as much as possible. And not to go overboard like most do. Everything is a calculated step with plenty of research.

I wonder if Michael will do something else or try to start something else. Speedstars had lots of potential. Scarborough is still very much unsaturated in terms of the direction he was trying to go...

i read an article today about sam and samir...if the market was 1/2 of what is in LA...fro 198k i would be all over that...not sure a shop is the best bet for the cdn market tho...seems like "preferred distribution" status is the way to go...keep the o/h low. it works in la tho b/c of the year round good weather...i'm sure people stop by there all the time to chill kinda like we do at timmies and starbucks..you can only hang around mods w/o buying them for so long, so the model works

[audiophilia]

grudges or not...its sad to see a business go
my grudge is with a myopic webmaster certainy NOT against a business. I only wish him well. I know how difficult running one's own business is...

[Jersey]

Is that for the business name/place/equipment/stock inventory/employees?

clause 33 in the real estate and business brokers act states that upon interest of sale of a business the owner must present profit and loss statements, lists of all assets and liabilities and a list of all chattles, fixtures included in the sale...

call up the listing broker and they can give you a list of everything that is included.

who would of thought all that reading of provincial legislation paid off?? :0 :Idunno:

[christyles]

i read an article today about sam and samir...if the market was 1/2 of what is in LA...fro 198k i would be all over that...not sure a shop is the best bet for the cdn market tho...seems like "preferred distribution" status is the way to go...keep the o/h low. it works in la tho b/c of the year round good weather...i'm sure people stop by there all the time to chill kinda like we do at timmies and starbucks..you can only hang around mods w/o buying them for so long, so the model works
So true. But mods wouldn't be that last stop. Plus, like I said earlier in the thread... customer service. The appearance of the shop both showroom & service bays wasn't very appealing either. Makes you wonder on the professionalsim. It matters especially to us who ahve serious BMW paranoia.

Thanks for that bit of info Sean.

[STALKER]

About Sam and Samir, you have to remember there are more cars in the State of California then ppl in Canada, and is the most lucrative car market in the world. Every other car is BMW or Benz down there and thhey have the money to spend on them. PPL down there finance everything too, up to eyeballs in debt. My older brother lives in L.A., its another world, Im sure those that have been there know what Im talking about. Nice to visit, but I dont think I could ever live there.
Good luck to the next owner of Speedstar's, nudge nudge nudge, wink wink.

[alexm520]

....
.....
I was told 'you can find all you need at Speedstars' CLOSE.:D


This explains where you picked up bad habits :yak: :yak: :D

[carbonM3]

About Sam and Samir, you have to remember there are more cars in the State of California then ppl in Canada, and is the most lucrative car market in the world. Every other car is BMW or Benz down there and thhey have the money to spend on them. PPL down there finance everything too, up to eyeballs in debt. My older brother lives in L.A., its another world, Im sure those that have been there know what Im talking about. Nice to visit, but I dont think I could ever live there.
Good luck to the next owner of Speedstar's, nudge nudge nudge, wink wink.

agreed been there...it is insane and that's why i think the model works in that market. my buddy owns various surf / athletic apparel businesses and has one of his distribution warehouses in Irvine (about 20-30 mins southwest of newport beach)...there are tuners everywhere around his place, let alone newport beach! ROAD TRIP :nerd: :nerd:

[STALKER]

My brother use to live and go to law school in Newport/Irvine area. Its a great area to live in actually, my unlce still lives there. My bros. and his wife life in Westwood now, its alright.
Carbon M3, any interest in my Dinan suspension?

[carbonM3]

My brother use to live and go to law school in Newport/Irvine area. Its a great area to live in actually, my unlce still lives there. My bros. and his wife life in Westwood now, its alright.
Carbon M3, any interest in my Dinan suspension?

im still doing my research...i do have to do something to get rid of that UGLY gap between my tires and wheel wells!!!

[M333ee]

I was just talking to Michael at Speedstars a while ago. Business is doing well and there are still a lot of guys in the Markham, Richmondhill, Scarborough area that mod their cars so there is a big base of clients. He is just going back to HK to run another business.

As you know the $$$$ flow in HK. The market there for mods must be as big or bigger than Cali :}:

[audiophilia]

I was just talking to Michael at Speedstars a while ago. Business is doing well and there are still a lot of guys in the Markham, Richmondhill, Scarborough area that mod their cars so there is a big base of clients. He is just going back to HK to run another business.

As you know the $$$$ flow in HK. The market there for mods must be as big or bigger than Cali :}:
That's good news.

He did some work for me in the early days of the BMW. Good stuff..others have not been as happy...my beef was that I was 'ordered' to shop there and the guy had no stock...now I know how to shop for the BMW...mail order...or here:D

[carbonM3]

That's good news.

He did some work for me in the early days of the BMW. Good stuff..others have not been as happy...my beef was that I was 'ordered' to shop there and the guy had no stock...now I know how to shop for the BMW...mail order...or here:D

and a certian US site...huge market!! :Qboy:

[THH]

Just to let you guyz know, I am in HK right now too. I don't think modifying shop in HK is making as much money as before since there is shop openning after each shop every month. I purchase modify magazine each month and new shops are promoting in it every month. It is just crazy.

[ambasah]

i had some work done there in the past. it was a good job at a good price. sad to see them go.

[christyles]

I was just talking to Michael at Speedstars a while ago. Business is doing well and there are still a lot of guys in the Markham, Richmondhill, Scarborough area that mod their cars so there is a big base of clients. He is just going back to HK to run another business.

As you know the $$$$ flow in HK. The market there for mods must be as big or bigger than Cali :}:
i think otherwise... sorry. i drive by speedstars almost everyday and they're hardly busy. so I don't know how well business is going. but i guess he can't find anybody to trust to keep it running for him then if he's headed back to HK.

:Idunno:

[ianS]

i think otherwise... sorry. i drive by speedstars almost everyday and they're hardly busy. so I don't know how well business is going. but i guess he can't find anybody to trust to keep it running for him then if he's headed back to HK.

:Idunno:

It is not good idea for a mechanic shop keep replacing their main mechanic... their work are so in-consistent. :sick:

[christyles]

I was just talking to Michael at Speedstars a while ago. Business is doing well and there are still a lot of guys in the Markham, Richmondhill, Scarborough area that mod their cars so there is a big base of clients. He is just going back to HK to run another business.

As you know the $$$$ flow in HK. The market there for mods must be as big or bigger than Cali :}:
I literally went to Speedstarts today to look for Michael, dud'es in HK. Did you call him long distance?

[christyles]

IanS,

Do you have the contact number that they left in the for sale ad of that chinese newspaper for Speedstars?

Thanks. Just PM it to me. I want to ask him some questions.

[STALKER]

im still doing my research...i do have to do something to get rid of that UGLY gap between my tires and wheel wells!!!
If interested let me know, I give a discount on my asking price.
Pej

[STALKER]

how long were they in business for and were they targetting EU cars or everybody. I only went there once and left soon after.

[christyles]

how long were they in business for and were they targetting EU cars or everybody. I only went there once and left soon after.
I think only a couple of years if I remember correctly.
They did a lot BMW's cause I think michael has a Bimmer, or did he sell that already. But they did other imports too, for track.

They also ended up doing used car sales via the auto detailier who rented out 2 bays (Auto Town).

[M333ee]

It was about 2+ weeks ago when I talked to Michael. Yes he used to have a nice modded E46 M3 and then a ACS modded Z4!

Would always give good deals to the BMW guys :}:

[ianS]

IanS,

Do you have the contact number that they left in the for sale ad of that chinese newspaper for Speedstars?

Thanks. Just PM it to me. I want to ask him some questions.

I will let you know, once I back home today.