Take The PLunge?

beans n toast

Greetings from Toronto.

Sort of an odd post perhaps. While I am not currently a professional contractor, I am thinking of going to school to become a home renovator / general contractor.

I have been a magazine editor for nearly a decade and I'm looking for a change of careers. I've been thinking about becoming a contractor for a while now and wanted to touch base with others.

I guess I have a few questions.

First, I'm 30 years old. Is this too old to embark on this journey? I eventually would like to own my own company.

Second, with so much publicity surrounding home reno scams and nightmare renos, how handicapped am I by not being in in business for 50 years like some of the companies in my area?

Third, anyone have any suggestions for a guy looking to start out? what are the perks and jerks?

and finally, when you look back, in your opinions, is it worth it?

thanks in advance. great site.

b

Mud Master

First, It's never to late to embark on a dream. I know men and women that don't become self employed til thier in thier late 50's early 60's. Your at the prime age that alot of people begin thier business, I was 28 myself. If it is something your passionate about and in your heart you believe you would be good at it, than by all means go for it. I would not begin business without first having field experience, go to work for an established company, and explain to them you really want to learn this trade, that you won't hesitate to fetch tools, clean up, hump materials back and forth like we all had to when we begun. But also let them know that you don't want to be doing that for the next 10 years, that you want to be hands on, side by side with a mechanic/carpenter learning as you go. And be prepared to take a pay cut, even after you become self employed..**It takes 7-10 years to start turning a REAL profit, all your doing in that time is re-investing everything you make( tools, materials, vechile, employees, taxes, Ladders, scaffolding etc etc etc..)**.

As far as being "handicapped", we all are in that sense. We all have competition, new and old, good and bad, legal and illegal. And it is hard work to make a name for yourself and seperate yourself from the others. Start small, replace door and windows, do a small bathroom remodel, patch a wall. Reason being doing that will first give you a feel for what it is like to deal with clients, do invoicing and pricing, etc.. Also, if you go in doing a 80,000 dollar addition you will be overwhelmed and frustarated. It will also get your name out there to homeowners seeking work, and in time the larger jobs will come. Also, send a flyer or some type of information about yourself to local GC's, that will allow you to possibly work as a sub later on bigger projects, which will also let you get an idea of how things are ran and done in the field and behind the desk. And it will give you the chance to learn how to manage people in the field.

As far as "perks and jerks". There is freedom in self employment, as everything is ran the way you envision it. However to run a successful business you will work 10x longer and 10x harder than you EVER will as a employee. And you will have more responsibility as everything will fall on your shoulders.

So don't rush into anything. Take a good hard look at yourself, and make sure your ready to take the leap. It's an exciting adventure, and you will have alot of downs before you have the ups. But as time goes on you will see that things will get brighter.

I guess the main thing is, you HAVE to want it, and you have to be willing to work for it, thats the only way your business will amount to anything.

I wish you Luck!

__________________

Stone Mountain

Start off working for someone else. Get some experience.
Imagine sitting down with your first customer, and admitting to them that he's the one you're going to burst your cherry on.
The renovation industry is a very tough one, as industries go.
There are so many things to think about, so many problems that can crop up, you really should have a few years under your belt.

And no, 30 is not too old at all. I'm in Toronto. Come work for me for a year or two as a salesperson. You'll "earn while you learn" and after that you can buy a franchise!

__________________
Residential Deck Specialist: Vist our Website
www.fenceanddeck.ca

lawndart

Stone Mountain offers some great advice. School is great, but it does not equal what you will learn in the field. I'm doing this for 12 years now, and I'm still learning new things everyday. The biggest mistake people make when opening a business is to rush into it while not taking the time to research and learn everything they need to know. Go get yourself prepared, and best of luck to you in the future.

AbeBarker

I'm coming up to my fourth year.

First year, I got my ass kicked.

Second year I sucker punched and finished the round ahead on points

Third year I got knocked down twice and got up just before the bell the ten count.

Now I slip the jab and counter, slip the jab and counter. still two and a half minutes in the round to go.

Look for the opening and deliver. Have a strong chin and don't be afraid to get beat up.

WNYcarpenter

It's my opinion only, if you don't have atleast 10 years experience in the field, you won't be able to make crucial decisions in the field that could make or break a company. Many contractors are simply that, contractors. If your desire is to own a company without dedicating a good portion of the next few years to learning a trade, let alone all the trades! (Restoration requires knowledge of every aspect of building along with the history of the trades). Then I suggest you plan on strictly being a GC and subbing all work to experienced contractors.

Many tradesmen are excellent craftsmen but lack sociability, tact, and patience needed to draw work in. Maybe you have a knack with people, and are ingenuitive, but ingeniousness doesn't make up for 20 years experience!

Check out the Home Depot Antics thread and how the dumbed down attention DIY advertising effects us all.

By all means, start your own business, but don't plan to DIY.

Driftwood

Can you lay out a set of common ,hip,valley rafters? stair stringers?

Do a stair ballistrade. DO you know the max trap arm length on 2"drain,
vent. what size min, conductor for 20 amp circuit? Can you read plans,set up batter boards, and set grade for the excavator?
My son is 34, He could do all this 10 years ago. He's your competion.

If the answer is no to many of these questions, come to work for someone like us. We love to teach,We LOVE our work. good luck

Danahy

Beans, If you don't mind the drive down to Kitchener to go to Conestoga College, there's a new two year renovator course offered. If you log onto the conestoga website, you'll notice that it was Mike Holmes who put some of the program together...

If I wasn't workin' like a mad man, I'd probably take a course from it here and there myself...

ruskent

Work for someone else first. Take a ton of pictures of the jobs you do yourself for that employer to start building a profolio.

I worked for a guy for a year and did a ton of jobs by myself. I didn't think it would be right to take pictures of them. A year later i ran into my old boss and i said something like 'i wish i took pictures of x,y, z jobs. ' He said you should of. You did them yourself, i wouldn't of cared"

Starting in business with a picture book will make the difference.

beans n toast

great info guys, thanks.

Danahy, thanks for the heads up on the Conestoga. I've also found a good course at George Brown.

Driftwood, I'm hoping to pick up some of this knowledge at school, but do understand site experience is key... It is intimidating knowing my potential competition has years of experinece on me.

I do like how these schools are practical and flanked heavily by code, business and marketing.

Stone Mountain, your advise is great. I would like to learn more about you and your company, and how to get involved. Maybe I could buy you a beer sometime and pick your brain.

Is there much opportunity to get field experience evenings and weekends?

Again, thanks for all the wise words. Please keep it coming. Apparently I have a lot to think about, and more advice would be greatly appreciated.

dirt diggler

once spring hits - you should find no problem in picking up weekend work


the only thing i might add is do not do any work for free

meaning - don't tell someone "hey - i'll help you out on Saturdays for free if you teach me all you know"

cuz they won't teach you all they know
and you'll just be losing money already before you've even started a business

WNYcarpenter

I see you've chosen the advice you want to take. How about the "where do you get these guys" thread. You're going to be a competetor with people who've been doing this since their dad put a hammer in their cradle instead of a ball glove. I'd like to start my own magazine about fashion as a second career...any weekend classes I could attend?

Stone Mountain

PM me, or look on my website for the phone #. I've got 2 new offices starting and we need people.

__________________
Residential Deck Specialist: Vist our Website
www.fenceanddeck.ca

beans n toast

actually, I haven't chosen anything yet.

fashion mag, huh?

beans n toast

Stone Mountain, I'll check the site and get back to you. Cheers.