Hello all…
Time for a career change, and I’ve been doing quite a lot of carpentry/home repair for myself and friends for years now, so I’m contemplating taking the plunge into doing it as a profession. In better times, I accumulated pretty much every tool I can possibly imagine needing, so the investment will be minor. My plan is to try for small to medium size jobs I can do primarily alone within a week or two. The long and short is, I’d sincerely appreciate any thoughts, suggestions, advice you folks might be able to offer. Best wishes!
Paul
Replies
There are probably 100 threads here just like yours. The last one was just a couple of days ago. Must be spring making people itchy?
Try starting in the business folder and reading threads there. A tremendous amount of knowledge is in those posts.
Or use the advanved search function and search on the word "start" or "starting". That should net you a truckload of threads with similar questions.
Getting married for sex is like buying a 747 for the free peanuts. [Jeff Foxworthy]
Paul,
Find a good accountant who can advise a method to bring your tool collection into the business allowing a deduction. There has to be a way. You're looking at incorporating a large previous expenditure that could help your bottom line starting out............seems goofy to lose a healthy deduction. If you do find a way, come back with the particulars as I'm sure it would help others in a similar situation.
Remodeling Contractor just outside the Glass City.
Quittin' Time
PaulB
Make sure that you have enough working cash on hand for those times when you don't have any work because you will have some down/slow time. Getting advice from an accountant is sound advice. Do not mix your personal finances with your business finances. Be meticulous with your paper work (comes with the territory at tax time). I would strongly recommend that you put together a business plan and research the demographics in your area. If your area is flooded with contractors and they are scrambling for jobs you could find yourself in the same situation somewhere down the line. I don't want to scare anyone out of pursuing something they think is worthwhile... just make sure you do your homework. An ounce of prevention is worth a pound of cure.
Pat.
I have a lot to say but little time or space , so what Boss said , but I do have a top thought to share .
We dont do it all for the money. Its a pride full job and thats what makes us a breed . You are either one of of us or you wont stick. Its a way of life thats lived.
Tim Mooney
All sound advice, and appreciated. Thanks for taking the time to reply everyone!
Paul
Be willing to do anything.........for a profit.
Never lie
Be cheerfu
Take care of your body, mind and if applicable, your soul.
never show up dirty....never leave the job dirtier than you found it.
never do a service without some compensation (no freebies)
Keep what is owed to you from a client below small claims limit. If they don't pay, send a certified letter and sue. Get on the next job. You can always drop it later.........after they pay.
pay your taxes first, then your help, subs, ect. Then pay yourself.
Your doing this for money. .
.
After you figure out how your gonna make money doing this, figure out how you can make this mesh with making your self happy. Never get this horse before that cart.
Try not to ever make anyone unhappy out of malice.
Figure out a way to take off the evenings, Saturdays and Sundays.
Ditto on 2-2 week vacations. Outta town. Better...outta the country.
Hire the best CPA, lawyer, designer, engineer, architect, sub contractor you can find.
As Andy says: be happy
it's a big step, start small and keep the cash flowing
dont do anything for free even a two minute job
find cheap or free advertising
2 biggest things?
be there when you said you would
leave the jobsite cleaner than when you got there
caulking is not a piece of trim