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Reaching a Milestone
#1
My harness refurbishment business just reached a major milestone: 500 underdash harnesses have been refurbished and sold to customers. When I started out in March, 2008, I thought that there might be sufficient need to make this a hobby business, defined by the IRS as having no consecutive years of making a profit. As of 2011, I had to register as a business, as the demand for these services was greater than I originally thought!

I started out thinking that the distribution of harnesses by production year would largely reflect two factors: how many Mustangs were built and the cost of reproduction harnesses. Mustang productions peaked in 65/66, declining all the way through 73. Reproduction harnesses start out at ~$500 for the earliest years, growing to ~$1000 for 1970. No reproductions are available for 71-73. I expected a reasonably flat distribution from 65through 70, with a bit higher demand for the later years. What actually happened was much different:

[Image: 500.jpg]

The biggest surprise is that 1969 dominates all other years, accounting for 26% of all of my work. The next highest year is 66, 67, and 70, each running about 13%. 1968 accounts for about 10%. I think this data is telling me that 1969 is by far the most popular year Mustang, and that the 71-73 demand is much lower than other years. We’ll see if this changes over the next few years.

Thanks for reading!

Let me check your shorts!
http://midlifeharness.com

[Image: Flamicon2.jpg]


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#2
Congrats on your success.

Larry
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#3
Or maybe the 7123 weren't as crappy as the earlier ones? ;-)
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#4
Hard to say. Back 1995 when I started restoring my 72 mach it took 3 cars to make one, so yes I still have a lot of left over parts and harnesses. By 2000 when I finally got it on the road, you didn't see many 71-73 running around here in the northeast yet. Today there are a few more, but still not as many as earlier yrs. that still seem to be increasing. Parts cars are getting harder to find and the ones I do find have already been strip of what we need the most. Time will tell...
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#5
Congrats. Glad your persistence payed off!

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Mike

"If I were you...... I´d rather be me."  Tongue

Check out my video:
http://www.7173mustangs.com/thread-my-mustang-in-action

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#6
Congrats on being a successful small businessman in modern America! The data was interesting as well. I do understand the popularity of the 1969 model. I've owned 3 in the past. Chuck
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#7
Thanks for posting your feedback Randy.

Very interesting indeed. Thanks also for providing a much need resource for Mustang owners over the years.

Greg.Smile

whistling LORD, MR FORD - JERRY REED
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#8
Thanks for all you do! Congrats Also!

I have to say my favorite stang is a 70.
Wish I still had the one I gave to my sister 30 years ago.

Oh well my 73 is a good substitute!

Cheers sir.

Paul
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#9
Austin Vert;284346 Wrote:Thanks for posting your feedback Randy.

Very interesting indeed. Thanks also for providing a much need resource for Mustang owners over the years.

Greg.Smile

Yeahthat +1

Don't be afraid to try something new. Remember, amateurs built the Ark...Professionals built the Titanic! thumb

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#10
midlife;284304 Wrote:My harness refurbishment business just reached a major milestone: 500 underdash harnesses have been refurbished and sold to customers. When I started out in March, 2008, I thought that there might be sufficient need to make this a hobby business, defined by the IRS as having no consecutive years of making a profit. As of 2011, I had to register as a business, as the demand for these services was greater than I originally thought!

I started out thinking that the distribution of harnesses by production year would largely reflect two factors: how many Mustangs were built and the cost of reproduction harnesses. Mustang productions peaked in 65/66, declining all the way through 73. Reproduction harnesses start out at ~$500 for the earliest years, growing to ~$1000 for 1970. No reproductions are available for 71-73. I expected a reasonably flat distribution from 65through 70, with a bit higher demand for the later years. What actually happened was much different:

[Image: 500.jpg]

The biggest surprise is that 1969 dominates all other years, accounting for 26% of all of my work. The next highest year is 66, 67, and 70, each running about 13%. 1968 accounts for about 10%. I think this data is telling me that 1969 is by far the most popular year Mustang, and that the 71-73 demand is much lower than other years. We’ll see if this changes over the next few years.

Thanks for reading!

Congrats

Randy, I am not surprised. Your patience with your "potential" clients has served you well. Great Job!

Eric

Don't be afraid to try something new. Remember, amateurs built the Ark...Professionals built the Titanic! thumb

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