Hi all,
I may have an opportunity to take an early retirement soon from my construction management position with a large retailer. I’ve not had my bags on for almost twenty years except to help friends, do my own work, or help out on the jobs as needed. If I take the package, I’ll still need to, and want to work. I’m considering starting up a one man home maintenance, punch list, small projects type business. I figured this would be the ideal place to go to get suggestions and advice. I have most of the tools and actually have some of the skills I had when I wore a younger mans’ clothes. I’m located in central NC and the economy is relatively strong. I’m not out to make a killing, but I would like to make a living doing something I’ve always enjoyed. one of the biggest bummers of my work now is that every project I’m involved with ends up in the dumpster after a few years. Just the nature of retail. I’d like to do some work with lasting value. And of course, I want the Nobel Prize for doing it!
Any thoughts, advice, suggestions, or concerns would be greatly appreciated.
Thanks in advance. Dan
Replies
what part of central nc are you in. I may have an idea for you to try.
to answer your question, i have seen this done successfully by 2 people, that have as much retirement work as they need/can do.
one of my first recommendations is to go to church. there, you will make many good contacts, and have a good customer base to draw from. it's a good place to gain peoples trust and become known and build a reputation -- many church people are quick to recommend/refer a handyman/small remodeler. it works. (why do you think every insurance guy in town is in church every time the doors are open??) :)
that is how the 2 folks that i knew doing this got the majority of thier business -- and have make good 'retirement' money from it
Thanks for all the responses. I thought this would be a good place to mine for information and I was right! There is a wealth of experience and information from Y'all that have been there, done that.
I've been in Corporate life for the last 18 years, here in Winston-Salem,NC. By design, business functions are separated and therefore I have a number of areas I will need help with when I'm on my own. Can anyone recommend resource materials that they have found helpful? Books, web sites, etc. as well as personal advice. What may seem second nature to those of you doing this day in and out is somewhat uncharted territory for me. It's kind of fun being a F.N.G. at 57.
Main questions are: How to structure the business, estimating, marketing, book keeping, taxes, licensing, etc. , keeping in mind, I plan a one man operation and don't want to rule the universe. Hopefully, this thread will prove helpful to others as well as me.
Again, thanks for all the help!
I do what your are thinking about. I found/find Working Alone by John Carroll (Taunton Press see Amazon) to be a source of excellent tips.
Look through the archives here, I always pick up tool tips and I constantly look for tools that make it easier to work alone. I really do not want to waste time supervising someone else. The amount of work you can gain is amazing and if you are not careful your free time becomes nonexistent.
john
I had a couple of heart attacks so now i teach construction trades to adults thru the construction unions, adult education, and state unemploment. the pay is hourly, a buck more than journeyman, 3 months class, a month off inside most of the time and the students do all the heavy lifting.. requires 9 months of classes night or saturday to get state certified.
Be ready to work alot. Once word gets out that there is a rent a husband available you will have more work than you can imagine!
Have a great day
Cliffy
My dad did this & learned a lot about people. Suggest you establish what type of work you wish to do so as to eliminate those you prefer to not be involved in. Establish your hours even if working from your home else subject to many emergency calls at nights, holidays & weekends. How much for a house call to perform the actual work & the hours you spend there? Be prepared for folks who think you are just working "from the goodness of your heart" without pay (relatives, friends, etc.) After all, you are retired & may be viewed as not needing to charge much, if any; just need something to stay busy!
Invest in business cards for appearances to indicate you are in business & do wish to be paid. Provide written estimate with info about when payment due, etc.
Good luck & do hope the above proves to be helpful to you.
p.s. Dad was never able to say No, so did a lot of good work but little pay. A good man he was though!
Get to know a few realtors in your area. Around here (Cailfirnia), every home sold has a "punch list" of stuff that needs fixed and you should be able to keep plenty busy if the real estate market around there is doing well.
One thing to watch out for is getting paid when escrow closes. You could be left holding the bag if you do a bunch of work and the deal falls through - or if closing takes a long time. I make sure that the seller my "customer" and make payment due at close of escrow - or 30 days, whichever comes first.
Sounds like you're in an enviable position. One guy that I worked with for a while on bigger projects retired and started up as a "premium handyman" for people in La Jolla, CA - a high end community. He's so in demand that he's on retainer with twelve or so people to spend two weeks a year doing repairs, maintenance and minor remodels on their multi million dollar homes. One guy takes him to Montana for a month every summer to do the same thing on "the summer place." He says they spend most of the time hunting, fishing and horseback riding and that he does about a week's worth of work.
Good luck
Get in with condo associations.
Who Dares Wins!