Starting a business

[Streetcar]

I would hesitate to get into unknown business .
Will you replace indoor or exterior lights. Exterior can be rusted in place. Exterior need to account for weather
Travel can be expensive and you can lose workers quickly

 

[Gary Fowler]

It is all indoor at this point but there are some contracts available to replace street lighting but I wont go into that.

As for not knowing anything about the work, I didn't say I didn't know anything about it, I just always worked for a large company and never did any contract work. I have supervised crews doing electrical work and managed quality control of electrical and all other crafts of a construction project on new construction. I am just a bit reserved on doing these short term jobs of 2-4 days in may instances and moving all over the USA doing it without knowing a lot more. I have had discussion on doing this per fixture but no indication of getting travel time, mileage etc. between jobs nor a per diem for the workers. I can see this as being a deal breaker if not included.

 

[DaveNJ]

This.

You should get as much information about this business from your neighbor and his brother. If you're satisfied, Mr. LawnCare has the basic steps for starting a business listed above.

If you even get a whiff of something not being on the level with your neighbor's brother (cash investment, non-specific information about the scope and timing of jobs, contracts to sign in order to get "more information", large capital outlay, etc.), politely make your exit or at least talk to a business attorney.

Good Luck!

Agreed. As a lawyer years ago I helped to set up many small businesses. Usually, the ones that lasted were ones formed by folks that were employed for at least a few years in that type of trade or business, and had put a business plan to paper.

 

[kevin37b]

Do you want to be on the road again ? I thought you were retired and happy . I would keep playing with my tractors and stay home . Take care of the family and homestead .

 

[jenkinsph]

Do you want to be on the road again ? I thought you were retired and happy . I would keep playing with my tractors and stay home . Take care of the family and homestead .

Good point.
Even if he plans to oversee this from home base that would never work.

 

[Industrial Toys]

I have been self employed for almost thirty years. Be carefull. There is always someone around trying to get you to work (hard) cheap, take the risk, while they put their feet up and collect the (easy) money.

I did quite a bit of lighting repair back when I was an apprentice electician. Both indoor and outdoor. Don't know whey people wait til the snow flies to get their outdoor lighting and signs repaired.

Worst shock I ever got was up in a ceiling, 347 volt lighting. Someone had stripped the wires way too long and I was tucking them back into a Junction box. Everything was worked on live back then. Finding the appropriate breaker would have cut into the bosses profits.

 

[powerscol]

Multiple states may be an issue. You state can set you up with an LLC In Colorado it is easy. Some states will use your other state LLC if you pay a license or contractor fee to be able to work there. Hook up with you local better business bureau or state SBA (small business administration) office. There are folks that love to help other get going. Double check that no electrical license is needed. Here in Colorado one would be depending where you worked. Some cities have stricter rules and require a separate contracting fee to work there.

The suggestion above on being an employee, even under contract, may be the way to go.

Bottom line after talking with the BBB and SBA and an attorney, you will know more. BTW - Check out you neighbors business through the BBB first. You might be suprised. You might also need a tax account too.

Good luck

 

[kevin37b]

Gary , Hello , can you hear us now ?

 

[AxleHub]

Gary,

Congrats on considering a new business opportunity.

I'll make a few suggestions and ask a few questions:

1. Definitely get eithet a Sub S or LLC depending on the ownrtship structure of the small business.

2. Insurance is a critical consideration. "Any insurance company" is not wise imo, you want a good agent working for a company that does business insurance and if they do contractor insurance . . even better.

3. The same business insurance agency can sldo handle the workman's comp.

4. Imo I'd consider starting out limiting myself to 2 or 3 states and no more. Why? Learn while you earn. You can then verify licensing needs or new employees etc etc..

A. Will you hire employees or do you plan on have them be sub contractors?

B. Is pricing based on a formula or do you need to bid each job?

 

[Gary Fowler]

Thanks guys for all the info. Now some near to home personal things have thrown a monkey wrench into this even if I could make the LLC work. My brother in law (lives right across my pond from me) had to be rushed to the hospital last week for shortness of breath. He is now on oxygen 100% of the time and his pulmonary specialist says he will be that way for the rest of his life. He is diagnose with pulmonary fibrosis. Funny how it manifested itself seemingly overnight. The doctor says it has been a long time in the works but just now got so bad likely from the pneumonia episode a week or so before.
I suppose now I should not even consider going on the road with a new business prospective because he cant do any work around the farm. I have been taking care of his lawn care issues along with mine and that takes at least a full day of work to keep the grass down. I have to go move some hay for his cows this morning. His wife is somewhat like my wife in that she cant run motorized equipment other than a electric string trimmer and a push lawnmower without running over something so I will be helping out there for the immediate future. I think he has plans to sell all of his cows prior to winter feeding time so that chore wont be needed.

It is an awakening to all of the family as to how quickly something can turn from good to bad as far as health is concerned.