Small business advice

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Guys, I really need some advice and input from the wise men out here. I want to start a small business building trailers but I feel that I need to get info from people that was there and done that. Can I compete with the big companies and still make a couple of bucks. I work alone and have build 2 trailers but it feels like it took forever to complete as i work a regular job as well. Is it possible to do this for a living. I know about setting up a business plan, do market research and that mambo jumbo. I have been there on a previous business i started that looked good on paper and started of good but slowly bled to death. I lost a lot of money on that one. I think I can start this one on a shoe string. Please give me some input, I will appreciate any input.
Reply:My first thought is that it would be hard to compete for just doing standard trailers.  Between materials costs and jigs and repetition and such I'd think the big companies could undercut your prices by quantity alone - discounts on material quantity, amortizing the cost of jigs over hundreds of trailers, and working the bugs out from doing those hundreds of trailers.I think that where the little guy can make it is with diversity.  Offer trailers that nobody else is making?
Reply:That is what I plan to do, make custom trailers. But my concern is if the market is already flooded and will there be space for the small guy to start up.
Reply:my biggest concern would be the liabilty of it all.  here is an idea do you want your name on something that could possibly end up causing a traffic accident my thought would to be to refurbish old beat up trailers and sell them -dawg
Reply:I am with arcdog.  If you build a trailer from scratch, you will be the builder of record and will be responsible for any product liability issues later on.  In some states, Georgia is one, incorporation does not limit your liability for such claims IF it is determined that the main reason you incorporated is to limit product liability exposure.  That whole LLP/LLC thing is still relatively untested in the legal system when it comes to issues like this.  If you refurb old trailers on the side, you don't have the same liability because you can sell in "as-is" condition and remain legal.  Not that you would build bad stuff...it's just that even if the paintiff were wrong, you still have the cost of a defense.  This is another place where a big company makes out.  They have only one policy to pay for that gets spread over their whole inventory.Smithboy...if it ain't broke, you ain't tryin'.
Reply:I take note of this liability concern. What will the implications be if I build this trailers one at a time and sell them as is, and not start a company as such.
Reply:In GA, the builder is listed on the tag application and registration for the trailer.  If it is listed as homebuilt, the original owner is the builder.  This stuff can differ from state to state.  I have built lots of trailers of all shapes and sizes, but never sold any as new for that reason...but, that's Georgia.  My dad uses the trailers I have built on his farm and when he runs them in the ground, he sells them as either scrap or as not roadworthy and makes the buyer sign a paper stating that he understands that (even if they are in pretty good condition).  Alabama is a different story.  They do not have the original builder of homebuilts kept anywhere that I know of, so I guess they are all "as-is" and put on the road at the driver/owner's risk.  I am not sure what you would need to do in your state.  Our department of motor vehicles has all the paperwork necessary to register a homebuilt and get a tag...it's only a couple of pages of stuff and $18 dollars and they give you a little aluminum plate to affix to the tongue of the trailer and go get it inspected by the sheriff.  Once that's done, you can get your tag and away you go.  But that aint retail, just homebuilts.  Check your state's dmv.  They probably have some info on homebuilts, but you will probably need more info and paperwork ready if you intend to do this as a buisness than is required for homebuilts.Smithboy...if it ain't broke, you ain't tryin'.