One man shop?

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willco

Member
I have been on my own for the last fourteen years. I would say a one man shop can be very profitable. The stress level is certainly much lower as compared to running a shop with many electricians and at the end of the year you could profit just as much or more by being by yourself. I would caution; do not start up on your own unless you have an established customer list, in this economy a startup company with no customer base will not make it. The only jobs you will get will be the ones that you were the low bidder on. After all these years of being in business I have prided myself that I got the job by being the best not the cheapest. If you have the aptitude and the customer base then go for it.

Pete
 
Rewire

Rewire

Senior Member
Location
Lake of the Ozarks
The bad news is most businesses fail in the first year.
With a one man shop you don't own a business you own a job.
As a one man show their are 100 guys just like you waiting for the day you call in sick.
Doing electrical service is totally different than running a business that provides electrical service.
 
B4T

B4T

Senior Member
Location
Long Island, N.Y.
I have been a one man band for the last 20 years and have no plans on hiring anyone. I make a really good living and in tough times like now there is alot less stress trying to get jobs to keep the help busy. I have a large customer base mainly because they always have me doing the work.
 
Dolfan

Dolfan

Senior Member
papa said:
My present employer is very slow right now .Should I look for a new employer, or start my on shop? Is a one man shop profitable?
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If you don't mortgage your home, get a business loan, have a rich relative, or inherit daddy's company, a one man shop is the only way to start.
 
Dolfan

Dolfan

Senior Member
I don't suggest that anybody give up a job right now. But what makes a lot of sense is getting your master's as an insurance policy. If anything you will brush up on the code and have a title to go with it. An education at any age is never a bad thing. My last 3 years were spent in a service truck, doing industrial jobs mainly by my self. I was badged for 3 different entities, that cost my employer thousands of dollars. What pushed me out of the nest was something he did that I thought showed lack of appreciation. 4 years later I realized it's just business. The worst thing about any job is politics. When it's you in control as a one man shop, that part is history.
 
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Ohmy

Senior Member
Location
Atlanta, GA
Dolfan said:
I don't suggest that anybody give up a job right now. But what makes a lot of sense is getting your master's as an insurance policy. If anything you will brush up on the code and have a title to go with it. An education at any age is never a bad thing. My last 3 years were spent in a service truck, doing industrial jobs mainly by my self. I was badged for 3 different entities, that cost my employer thousands of dollars. What pushed me out of the nest was something he did that I thought showed lack of appreciation. 4 years later I realized it's just business. The worst thing about any job is politics. When it's you in control as a one man shop, that part is history.
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Every electrician should be licensed. If you have been in the trade long enough to sit for an exam in your jurisdiction, do it.

BTW, why is there an expectation that a licensed guy is going to start his own "company." When a Dr. passes the boards, people don't say "so, when are you going to open your own clinic?" when a kid passes the bar exam folks don't say "cool...are whats the name of your law firm going to be?"

In ga, they have profit, overhead, tax, and business questions on the test....why? What does being licensed to do electrical work have to do with running a business?
 
Rewire

Rewire

Senior Member
Location
Lake of the Ozarks
papa said:
My present employer is very slow right now .Should I look for a new employer, or start my on shop? Is a one man shop profitable?
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The first question you should ask is why is your present employer slow? If it is do to a lack of work in your area going out on your own would not make sense.If another employer has work and needs help that would probably be your best option.
 
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hardworkingstiff

Senior Member
Location
Wilmington, NC
I've owned my job (rewire comment) since 1996. I was lucky in that I have skills that don't limit me to electrical work and I have contacts that need atypical work to be completed. I have had 4 employees for a while, but now none (and like it that way).

One man show can be a pleasant way to earn a nice living.
 
Rewire

Rewire

Senior Member
Location
Lake of the Ozarks
hardworkingstiff said:
I've owned my job (rewire comment) since 1996. I was lucky in that I have skills that don't limit me to electrical work and I have contacts that need atypical work to be completed. I have had 4 employees for a while, but now none (and like it that way).

One man show can be a pleasant way to earn a nice living.
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Nothing wrong with the one man show as long as it is what you want some people want to rent their home and some people want to own their home.
 
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hardworkingstiff

Senior Member
Location
Wilmington, NC
Rewire said:
you steal it from your present employer,

"don't bother calling the office next time heres my cell#"
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You nailed it! That's why it's not good to spread the news that you just got your EC license or "masters card" with the present employeer, he/she just might let you go (for some good reason of course, :smile:)
 
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AV ELECTRIC

Senior Member
Ide recomend having at least 12 months of emergency money in the bank to cover your bills . Getting loans or using credit cards is a mistake to do a startup at this time. If you have that emergency money you have time to figure on how to get this buissness started. It is tough when your trying to get work to pay your bills it will cloud your jugement and put a strain on your home life but if you have that cash you dont have to be so desperate doing jobs you dont want to do and making next to nothing , sucking your precious time as an owner operator from the jobs you want to do that will make good money for you and you family.
 
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wireguru

Senior Member
I will add the # 1 rule for startup shops, one man or 50.

Dont take a job for which you could not afford to not be paid.
 
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