mwysinger
Member
- Location
- denham springs, LA
That's about like everything in this lovely state-bassackwards!BackInTheHabit said:
Need help on "ballpark guess"
- Thread starter mwysinger
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mwysinger
Member
- Location
- denham springs, LA
I know what you mean about the illegal, and even legal, immigrants. I have no problem with someone who is here LEGALLY and working to make a living, but the way these other contractors throw 20 immigrant workers at a job that 2 Americans used to do and STILL get by cheaper, how do you compete with that?!? Also, I am just starting this to make extra money right now so I can just keep my head above water. If it takes off, then I would really like to work for myself full time. But that's an immposibility right now. Can't afford to just jump in feet first and hope there's a bottom to the pit!frogneck77 said:
mwysinger
Member
- Location
- denham springs, LA
Well, I finally got the plans from the GC today-convinced him that I could not give him a price without them. Problem is, whoever drew them up knows NOTHING about code requirements! I'll basically have to rewrite the whole thing. I don't mind doing that as an incentive to get the job, but in the future that's gonna cost 'em.brantmacga said:
As for the capital to start a business, I mentioned earlier how little it actually takes to get a business started-even a side business. I actually only need about $500 to get started, and I am pretty sure that the company I work for now will pay my insurance if I pull permits for them (doing FEMA maintenance right now, but they are branching out). So this job actually will pave the way for me. Might seem screwed up to a lot of you hard working guys, but I'm just trying to scratch my way from the bottom up to a respectable business.
I really appreciate all of your input(s) to the posts I've put up, which hasn't been many so far, But I plan to keep reading. This site is a wonderful resource, and I've already learned a lot.
Thanks again!
brantmacga
Señor Member
- Location
- Georgia
- Occupation
- Former Child
mwysinger said:
$500 may get your licensing, but what about insurance? What about materials for inventory (do you have your accounts setup yet?)? What happens if you get this job and then nothing for the next couple of months; do you have enough to live on? Have you filed with the IRS yet? Do you have a book keeper or know how to do it yourself? Come on Mike, get your business started right. I didn't know what I was doing when I first started and had to dig my way out of a hole. I thought I had it figured out too, but I'm telling you, the day you wake up self-employed, everything you thought you knew means nothing.
BackInTheHabit
Senior Member
- Location
- Lexington, Kentucky
mwysinger said:
So I take it that you are working with the 1993 Code.
gra electric
Member
- Location
- whitney point, NY
brantmacga said:
A little advice from a guy who has done exactly what you are suggesting he shouldn't do. I was in the exact same boat, I didn't know how I was going to do it, and frankly I didn't care. I just knew I was going to succeed. I jumped in with both feet, no plan, no capital, nothing but my own two hands and sheer determination. I have learned a ton along the way, and I learn something new every day. I do not have cash flow problems, I pay my taxes, my business is growing slow and steady, and my family has everything they need. So I think guys on here need to encourage those who wish to lead, and stop with the doomsday "you better do this or its certain failure" routine. There have been many successful businesses started with little more that eyebrow sweat, and determination.
I say go for it, stick to your guns, and open your mind to learn something everyday. If you truly want to do it, than stop yapping about it, and hit the ground running!
Gerry
GRA Electric
LawnGuyLandSparky
Senior Member
Here's a ballpark guess:
Rewire
Senior Member
- Location
- Lake of the Ozarks
You are the exception and not the rule,jumping into a business with no plan and no capital makes no sense.Why learn the hard way when others have done it for you.gra electric said:A little advice from a guy who has done exactly what you are suggesting he shouldn't do. I was in the exact same boat, I didn't know how I was going to do it, and frankly I didn't care. I just knew I was going to succeed. I jumped in with both feet, no plan, no capital, nothing but my own two hands and sheer determination. I have learned a ton along the way, and I learn something new every day. I do not have cash flow problems, I pay my taxes, my business is growing slow and steady, and my family has everything they need. So I think guys on here need to encourage those who wish to lead, and stop with the doomsday "you better do this or its certain failure" routine. There have been many successful businesses started with little more that eyebrow sweat, and determination.
I say go for it, stick to your guns, and open your mind to learn something everyday. If you truly want to do it, than stop yapping about it, and hit the ground running!
Gerry
GRA Electric
gra electric said:A little advice from a guy who has done exactly what you are suggesting he shouldn't do. I was in the exact same boat, I didn't know how I was going to do it, and frankly I didn't care. I just knew I was going to succeed. I jumped in with both feet, no plan, no capital, nothing but my own two hands and sheer determination. I have learned a ton along the way, and I learn something new every day. I do not have cash flow problems, I pay my taxes, my business is growing slow and steady, and my family has everything they need. So I think guys on here need to encourage those who wish to lead, and stop with the doomsday "you better do this or its certain failure" routine. There have been many successful businesses started with little more that eyebrow sweat, and determination.
I say go for it, stick to your guns, and open your mind to learn something everyday. If you truly want to do it, than stop yapping about it, and hit the ground running!
Gerry
GRA Electric
Quote: " So I think guys on here need to encourage those who wish to lead, and stop with the doomsday "you better do this or its certain failure" routine."
Only a small percent of every business makes it, and yes there are the rare few, that start on a shoe string, and make it, I think waht the guys are trying to say is it is better to plan and be prepared then run into the flames without a plan, they are not saying not to do it.
Quote: "There have been many successful businesses started with little more that eyebrow sweat, and determination."
That should read, There have been a few successful businesses started with little more that eyebrow sweat, and determination."
LawnGuyLandSparky
Senior Member
Some people are in a position where there is nowhere else to go except up.
growler
Senior Member
- Location
- Atlanta,GA
mwysinger said:
There are GC's out there that like to play that game but it's a real Red Flag.
If he's local and the house is local ask to go take a look a the plans and the building lot.
If he's out of state and just fishing for a price I wouldn't trust him to start with.
General Contractor can mean many things or it can mean absolutely nothing. For many years here in Georgia the term GC could mean that the person has a check book ( that's what it takes to be a GC).
Before giving a price you should be checking this guy or company out. Have they built anything that you know of in the area. Go look it over.
If you only have $500 to start with is this guy going to give you a check to get started ( materials ). A guy that doesn't want to give a set of plans is not going to be one that pays up front.
My honest opinion is that these people are just fishing for a price and may even want to use your money to build the house ( the electrical anyway).
There many many contractors out there that know if they call enough people they will find a sucker sooner or later.
Watch yourself. Wiring a house is one thing and getting paid is another. :grin:
mwysinger
Member
- Location
- denham springs, LA
gra electric said:A little advice from a guy who has done exactly what you are suggesting he shouldn't do. I was in the exact same boat, I didn't know how I was going to do it, and frankly I didn't care. I just knew I was going to succeed. I jumped in with both feet, no plan, no capital, nothing but my own two hands and sheer determination. I have learned a ton along the way, and I learn something new every day. I do not have cash flow problems, I pay my taxes, my business is growing slow and steady, and my family has everything they need. So I think guys on here need to encourage those who wish to lead, and stop with the doomsday "you better do this or its certain failure" routine. There have been many successful businesses started with little more that eyebrow sweat, and determination.
I say go for it, stick to your guns, and open your mind to learn something everyday. If you truly want to do it, than stop yapping about it, and hit the ground running!
Gerry
GRA Electric
Thanks for the support Gerry! As I am really only doing this for a side job for now, I'm not too worried aboutr a business plan and all the other headaches all these guys have. Of course I will be covered by insurance, whether my own or through my main job. I also am VERY worried about taxes, 'cause LA likes to screw with people there, so I plan to at LEAST talk to an accountant or tax attorney as to what I should be concerned with, and may even retain an accountant to handle all of that for me. I don't really just jump into anything without reseraching it as much as possible, but I can sometimes only implement the bare necessities as far as my budget will allow.
In LA, there are about a bazillion electrical contractors, from one-man shows to those with thousands on the payroll, and they are all busy and making money. Maybe not as much as some of you guys because of the lack of an economy here.:grin:
Anyway, I do plan to GROW this into a full-time business in the future, but for now, skating on the minimums is all I can do. I do professional work, sometimes for less than I should be charging, but I'm right about where I should be for the area average. And someone asked earlier if I was working off the 1993 code-no, I use the 2005 NECand plan to buy the update book when I can. I want to be up to date even if my state is living in ancient history!
Thanks again!
Rewire
Senior Member
- Location
- Lake of the Ozarks
My workmans comp and liability insurance only covers my employees doing work for me I have never heard of employers insurance covering guts side jobs
brantmacga
Señor Member
- Location
- Georgia
- Occupation
- Former Child
gra electric said:A little advice from a guy who has done exactly what you are suggesting he shouldn't do. I was in the exact same boat, I didn't know how I was going to do it, and frankly I didn't care. I just knew I was going to succeed. I jumped in with both feet, no plan, no capital, nothing but my own two hands and sheer determination. I have learned a ton along the way, and I learn something new every day. I do not have cash flow problems, I pay my taxes, my business is growing slow and steady, and my family has everything they need. So I think guys on here need to encourage those who wish to lead, and stop with the doomsday "you better do this or its certain failure" routine. There have been many successful businesses started with little more that eyebrow sweat, and determination.
I say go for it, stick to your guns, and open your mind to learn something everyday. If you truly want to do it, than stop yapping about it, and hit the ground running!
Gerry
GRA Electric
good for you. you're one in a million. think how much easier it would've been if you knew then what you know now. why not encourage someone to be prepared instead of letting them set themselves up for failure? statistics don't lie.
walkerj
Senior Member
- Location
- Baton Rouge
mwysinger said:
The Louisiana State Licensing Board for Contractors requires you to have at least $10,000 before issuing your contractors license.
Also, permits are required if the ENTIRE job is over $50,000, not the electrical.
BTW, I live in Dehnam too
brantmacga said:
i don't know brant, i think i agree with gra...too many electrical contractors learn just enough to hobble along for years (sometimes 20) and never really get anywhere...they just don't implode...
maybe if we had more guys just go out on a whim...no plan, no money, no anything...more would implode...less would suffer a painful death for years...they would know how easy it's not and become model employees...
the industry would be better...
so, stop planning and just jump with with both feet...the waters warm (ok, i pee'd in it a little
)
Palmbay
Member
- Location
- Palm Bay Florida
frogneck77 said:
Same for me in Florida.
So, you are willing to work cheap to get the job. Going to bid real low, maybe have to make a deal with the GC/HO - he purchases material. Sounds like you may never get that final payment. You won't have a contract you can get enforced.
Think you'll make it up on another job, because you now have experience and a reference. Nah, someone will want it even more than you, and work even cheaper than you did. Now I'm really not trying to talk you out of going for it, because neither I nor anyone else can do that. Just be sure you learn from your mistakes. There are thousands of side jobbers out there who have not, they keep repeating the same mistakes over and over, thinking that they are better off because they do not have an employer. But most aren't setting up their future either, and are living day to day.
And that is what is hurting electricians wages all over the country.
Think you'll make it up on another job, because you now have experience and a reference. Nah, someone will want it even more than you, and work even cheaper than you did. Now I'm really not trying to talk you out of going for it, because neither I nor anyone else can do that. Just be sure you learn from your mistakes. There are thousands of side jobbers out there who have not, they keep repeating the same mistakes over and over, thinking that they are better off because they do not have an employer. But most aren't setting up their future either, and are living day to day.
And that is what is hurting electricians wages all over the country.
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