Going off on my own - Contractor Talk - Professional Construction and Remodeling Forum

mtnfloors · 01-12-2007, 10:42 PM

I have been working for a wood flooring company for about 3 years now and have had some really serious thoughts on starting my own business soon. Being the only "employee" I think I have a strong experience "platform" on which to stand, I currently see jobs from start to finish, both on the install side and the sand/finish side. I was wondering if anyone can help in pointing me in the right direction to get started. Do I wait until I save up and buy BOTH sanding and install equip? Or, should I just go for the sanding equipment first? (I seem to be doing more sanding jobs this year than Install)

Is it a good business practice to rent some equipment before I can afford to buy or should I just put starting my own thing off until I can afford it?

Thanks,

liltrainerboy · 01-13-2007, 12:23 AM

I Would Get A Loan Or Something Like That And Just Buy Every Thing U Need..... Less Stress Makes Everything Easier. If For Some Reason That Dont Work, Rent Or Borrow But Every Time U Do Thats Money Out Of Ur Pocket

J&J Home Imp. · 01-13-2007, 10:01 AM

Renting is a good option to test the water. I you can work out a permanent rental aggreement then sometimes its better than buying. I have a friend that rents all his drywall tools and he pays like $40 a month for all of it and he gets new tools every year so in that sense its a good way to keep new equipment.

If you are not sure how you are going to do you could rent for say 6 months and that would give you time to set up shop and all that. When I started my company I did it while I still had a full time job. I did that for almost 2 yrs but everything I made I turned back into the company for tools and all that. When I finally went out on my own i already had about $20,000 in equipment. Worked for me. Its dog eat dog out here but if you do it right you'll be ok. My advice don't get into anymore debt that you have to. That is what is killing me right now. I haven't made any profit in 2yrs because I am trying to pay everything off from bad decisions and customers stiffing me.

Shoalsfugro · 01-15-2007, 11:20 PM

On large equipment Home Depot has worked out well for me with there rental programs. No repairs or replacements. I build the fee into quote.

J87513 · 01-16-2007, 12:35 AM

I've been going off on my own at least once every day, usually after work when my wife isn't home.

J&J Home Imp. · 01-16-2007, 05:58 PM

Nothing better than being your own boss.

mtnfloors · 01-18-2007, 07:42 PM

Thanks for the replys