To stamp, or not to stamp


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Thread: To stamp, or not to stamp

  1. #1
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    Default To stamp, or not to stamp

    Hi everybody,

    I think this is my first thread on this site, so we will see how this goes. My reason for posting is I am looking for advice, I have started my own machining business currently under the name Draco Machine. I have been playing with it for several years but have always worked other jobs. I have always been too busy on the other jobs to do much with the shop since I was not able to put the time in the shop never did well. This year I decided to focus on the shop and see what I could do with it if I put the time in. I have a good customer that is keeping me busy at the moment but I need to get bigger. I am working with old manual machines that have a ton of wear in them, I can do fair work with them but it takes longer than it should. I am also set up in a 24 by 24 garage so space and power are an issue. My problem is I need to get bigger and do more work to keep moving forward ( I have had to turn work down due to lack of time or too high of quantity). But I can't seem to make enough with my current setup to jump into renting a bigger space with better power and buying/ leasing better equipment. It seems to be a catch 22 I need to get bigger so I can handle more work, but I need to handle more work to get bigger. I don't want to go very far into debt so please don't bring up bank loans ( I'm 25 with no credit and everybody seems to think no credit is bad credit) pluse being deep in debt is a bad idea and not a place I want to be. I have been talking with Haas and they are willing to finance machines at rates that are doable for me, but I don't have ceiling height or power enough to set one up. What I am looking for was something small I can get set up that does not need a lot of attention but can generate some extra income to help me break out of this. I was thinking something like a small stamping press If I can find a customer that needs a lot of some small part I can get that setup to run while I am still on the manual tools. Any thoughts, advice, or ideas would be much appreciated.

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  2. #2
    Community Moderator Jim Dawson's Avatar
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    Default Re: To stamp, or not to stamp

    Your situation and age is similar to what mine was about 45 years ago. What I did was just put in more hours and sacrificed a social life and did without anything I could. Work and sleep All the money I made in the shop went back into the shop, in addition to any extra money from my day job. After a couple years of this, I was able to pay cash for a new BP clone and a new 14x40 lathe. I had to rent a cheap commercial space to have 3 phase power, about 500 sqft, this was a step up from the 200 sqft I was in. Then I built it up from there. Today there are much better ways to have 3 phase power from single phase services. Today I have 1200 sqft, but only about 50 amps of 240V single phase. That means if I fire up the big welder I can't run the air compressor, or I can run the router, but can't run a mill at the same time. This doesn't really cause problems, there is only one of me.

    Do not borrow money to buy machines, pay as you go. If the work doesn't come in or a customer doesn't pay on time (or at all) the bank still wants their money. Buy used if necessary and look for deals. I assume you are able to do your own equipment repairs. Every machine in my shop today was purchased used, and paid for itself in one job. If I don't have work for them, they can sit and it doesn't cost me anything.

    You say you are turning down work due to lack of time.....I'm guessing you are not doing much between 12:00 AM and 6:00 AM

    Stamping out parts is a pretty good way to make some money, but stamping dies require maintenance. If you don't have a reasonably well tooled surface grinder you are not going to be able to maintain the dies. If you can find a customer that needs stamped parts, and can give you recurring orders, then it's time to look for a stamping press and the associated material handling equipment.

    Best of luck to you.



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