A First Timer Has A Few Questions (will Proabably Be Long)

Tpointin

Hi everyboy, Ive been reading the forums for a few weeks now and have learned much about the marketing end but I have a few questions I havent found an answer for.

I plan on starting up a small (meaning only me and maybe an old work buddy if the business comes) TPC shop. Residential at first, hopefully I can keep my ass in business the first year. I have no experience running a company but I can stick it out and learn.

Things I think I need to know but dont (before talking to the HO):

1. Building permits: I worked for a restoration company for 6 years and never once saw a building permit. Im assuming since its not structural I dont need one but I need to know before I talk to a lead.

2. Customer tax write offs: Im sure they'll want to take the cost of the repair off of their taxes. Is the contract sufficent proof to the tax man or is there some other document Ill need to produce?

3. Contract/Bid/Estimate structure and wording: Anyone have a link to some sample documents I can look ever and model my own after? I dont want to over complicate the documents but I want to cover my ass.

Thats all I can think of at 5:20 in the morning and theres proabably some key questions Ive missed. Ive got the skill and work experience, Im just missing the business experience.

MRHH

1. I would stop in to your local home inspector and ask. Just let them know that you are just starting up and want to ensure that you are going about the processes the right way. Most are willing to help, as your asking questions hopefully means less BS they have to deal with. Once you have your answer for your town, always check with the town inspector for the town that your work will be in. Some towns have websites that list when you need a permit and how they charge for them.

2. ??? Didn't realize home repairs were a tax right off. I'm checking with my accountant on 4/17 to see if this is the case. If so, I got some home repairs to do!!!

3. Check the marketing forum. There's a bunch of forms on there that have been posted for everyone to grab.

I might suggest taking 1 college business class a semester in the evenings. Many different things to understand and keep aware of. I have a document I read every month that is about the costs of business and what "normally expected" % of income goes to what (overhead, labor, materials, insurance, fuel, etc.) Each month I read it completely and re-evaluate where I am in comparison and where I plan to be "this" month, 1 year, 5 years, etc.

dirt diggler

first im kind of impressed by your questions --- i dunno why --- but they're different than the usual "hey im startin a biz" kinda questions

answers

1. as far as building permits ...check with your local building department.

They won't be much help but it'll get you pointed in the wrong direction

2. Customer tax write offs --- You've got 1,001,003 other things to be thinking about right now ... this is not one of them

3. honestly - i'd have your attorney do this rather than pulling something off the internet. you'll come up with additional clauses as you go im sure ... but to get started, consult with your attorney



5:20 in the morning huh?


well, you've got the sleep pattern down good luck

bill r

One minor addition to the excellent advice:
1) GET 3 CONTRACTOR REFERENCES FROM ANY PROSPECT before signing, AND CHECK THEM. If they don't have 3, then allow in some other kind of references. But check them. Ideally they should be for some kind of custom work. They're gonna bellyache; tell them your banker requires it. When you go work for one week, you are basically lending a stranger a week's pay. We all have to do it, but do it the way a professional lender would. And don't go beyond a week.
2. Don't work without a contract; its illegal. And DON'T WRITE YOUR OWN CONTRACT, LIKE I DID once. IT'S SUICIDE!
3. Being good at what you do has nothing to do with any of this. Its just bidness.
4. 'Covering your ass' IS COMPLICATED, particularly for a newbie.

bill r

Just grit your teeth and think of it like bowing before the King; or paying "protection"-- but do it!

farrellpainting

Don't expect hard work to run your business, or your expertise in masonry, you are now a BUSINESSMAN! You have to (i'm sick of this expression but) work smart, not hard!

bill r #3:being good at what you do has little to do with running a biz! at least I think thats what he's conveying.

ProWallGuy

Buy this book and read it ASAP.

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