Incorporating masters license

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Gushud

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I was approached by a plumbing company about incorporating my masters license. Has anyone had positive or negative experience in doing this. Any advice would greatly be appreciated


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Gushud said:
I was approached by a plumbing company about incorporating my masters license. Has anyone had positive or negative experience in doing this. Any advice would greatly be appreciated


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“Incorporating my masters license”

as in putting your license in their name so they can do electrical work under your license?
 
Gushud said:
I was approached by a plumbing company about incorporating my masters license. Has anyone had positive or negative experience in doing this. Any advice would greatly be appreciated


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???? Not sure what they are looking to do with your License, but I don't see anything positive about this.
 
They have contacts to do bigger projects that I couldn't do by myself they already advertise for plumbing so adding electrical to it I guess if I tied my license to them . They would pay me a fee and then they would beable to hire journeyman and have there sales people bid jobs. I would have control over the permits that get pulled and jobs that get done. Ultimately they have opportunities to make a lot of money. So I could get a small percentage. Just not sure if it's worth the headache


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Gushud said:
They have contacts to do bigger projects that I couldn't do by myself they already advertise for plumbing so adding electrical to it I guess if I tied my license to them . They would pay me a fee and then they would beable to hire journeyman and have there sales people bid jobs. I would have control over the permits that get pulled and jobs that get done. Ultimately they have opportunities to make a lot of money. So I could get a small percentage. Just not sure if it's worth the headache


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Not even sure it’s legal..
Its not legal here In NC
 
Sounds like a way to take advantage of your license without actually having to hire you and provide things like insurance or retirement. If I were you I'd say "sure I can do that for $XXXXXX.XX salary with full benefits, but I am in charge of everything electrical." They might think you're crazy, or they might think you're serious.
 
Joe.B said:
Sounds like a way to take advantage of your license without actually having to hire you and provide things like insurance or retirement. If I were you I'd say "sure I can do that for $XXXXXX.XX salary with full benefits, but I am in charge of everything electrical." They might think you're crazy, or they might think you're serious.
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Add a decimal place, then the numbers themselves don’t have to be so high.
 
Being in charge of the work involves active supervision of each individual permit project in most states if your license pulls the permits.

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Gushud said:
They have contacts to do bigger projects that I couldn't do by myself they already advertise for plumbing so adding electrical to it I guess if I tied my license to them . They would pay me a fee and then they would beable to hire journeyman and have there sales people bid jobs. I would have control over the permits that get pulled and jobs that get done. Ultimately they have opportunities to make a lot of money. So I could get a small percentage. Just not sure if it's worth the headache
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There has been similar threads on this forum in the past. Some have had major issues that could mean significant liability. Particular at issue is QC of jobs being done under your license, you would want significant controls as tieing your license to them it also ties your liability to work done by others under your license. Others have had the experience of that where it started out fine but after some time the business using the license wasn't adhering to the quality and code compliance that would be expected and the license holder was left holding the bag. Both in liability and reputation.

It has been suggested in other threads "Get a Lawyer" as anything done with your license is your liability, any failures come back to you the licensees. It also begins to increase insurance rates if it is; as mine is, higher the value of work completed higher the premium. Work done in your name is work done on your insurance whether "you" recieved the money for it or not, because your license being tagged to the job. Check with your insurance company also, as to the implications on your insurance by tagging your license to this other company and a potential for added risk by the exponential increase of "your" completed work. Thus you would want sufficient compensation to cover these issues. (Unless you want to be a "not for profit" entity, then get your 501(C)3.)
 
Gushud said:
They have contacts to do bigger projects that I couldn't do by myself they already advertise for plumbing so adding electrical to it I guess if I tied my license to them . They would pay me a fee and then they would beable to hire journeyman and have there sales people bid jobs. I would have control over the permits that get pulled and jobs that get done. Ultimately they have opportunities to make a lot of money. So I could get a small percentage. Just not sure if it's worth the headache


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Would you be an employee of the company?
 
Hv&Lv said:
Not even sure it’s legal..
Its not legal here In NC
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It's legal if you are an employee of the company with appropriate control over the electrical work. In NC, if you have multiple branches, you need a qualifier at each location. So if you had 4 offices in NC you would need 4 qualifiers on the payroll, one at each location.
 
I have done it and it didn't work out for me. In Mass. the company makes you an officer in the corporation. Most guys get 7-10K/year plus salary.

It seems to me if your an officer of the corp you are protected somewhat. if a job goes bad and a building burns the corp gets sued. Unless you instructed someone to put a 100 am breaker on some #14/2 your ok. In Ma, a master is not responsible for a journeyman"s work unless he told the journeyman to do something wrong
 
oldsparky52 said:
It's legal if you are an employee of the company with appropriate control over the electrical work. In NC, if you have multiple branches, you need a qualifier at each location. So if you had 4 offices in NC you would need 4 qualifiers on the payroll, one at each location.
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Look at the OP. He isn’t an employee. He was approached by a plumbing company.
 
As far as money, I would insist on some mock job reports, extend it out into a year's business, and compare to what you'd make on your own.

Suppose they want to give you 0.5% of remaing after cost of goods (after materials and labor)

Run the numbers on some jobs they have in mind:
Suppose they figure 23 jobs, average $115,000
You're looking at $2.6 million

Consider materials, etc at 25%
Labor at 30%
You're at $1.7 million x .05 = $85,000 for you

I don't know what their pitch to you looks like, but you should be able to get some brass tacks projections so you can compare to what you make already

One thing you can be sure of, they aren't looking to make you head honcho
 
So yes would be a employee would have the ability to drive around to jobs
It could be a good opportunity. I just question if they can get licensed electrician in ma there is a shortage. I currently work for someone this could be an extra 15k a year. Also possible opportunities to get into more of a management role. They have sales people and advertising that I couldn't do on my own


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Gushud said:
So yes would be a employee would have the ability to drive around to jobs
It could be a good opportunity. I just question if they can get licensed electrician in ma there is a shortage. I currently work for someone this could be an extra 15k a year. Also possible opportunities to get into more of a management role. They have sales people and advertising that I couldn't do on my own


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Again I would say that depends on the state laws regarding your licensing.
Here you could only do that as a bona fide employee.
So if your working somewhere else the plumbing company can’t do electrical work. They can only do it during the hours you have committed to them.
 
Eddie702 said:
I have done it and it didn't work out for me. In Mass. the company makes you an officer in the corporation. Most guys get 7-10K/year plus salary.

It seems to me if your an officer of the corp you are protected somewhat. if a job goes bad and a building burns the corp gets sued. Unless you instructed someone to put a 100 am breaker on some #14/2 your ok. In Ma, a master is not responsible for a journeyman"s work unless he told the journeyman to do something wrong
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When u say it didn't work out was it they couldn't get the work or the correct employee to do the work. Or they just did what they wanted to do and didn't respect the code?


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