Most Profitable Trade

 
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Old 05-17-2007, 03:31 PM   #1
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Most Profitable Trade


Which trade from a contractor point of view has the best potential profit/profit margin of all the trades available?
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Old 05-17-2007, 03:38 PM   #2
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Re: Most Profitable Trade


I think mold remediation has some great profit potential in the near future. I've got my local state representative looking into what the state requirements are to be such a contractor.

Along the lines of my trade (electrical), I'm starting to investigate the profit potential for EMF/RFI/Paranormal studies. Seems like there's good profit potential there too, but maybe not so much work.

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Old 05-17-2007, 03:44 PM   #3
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Re: Most Profitable Trade


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Originally Posted by mdshunk View Post
I think mold remediation has some great profit potential in the near future. I've got my local state representative looking into what the state requirements are to be such a contractor.
.....
Absolutely, you are stealing my ideas.....


BTW - I have done some research and plan on taking one of the week long classes that are out there, or whatever the state requires.

$$$$$$$$
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Old 05-17-2007, 03:45 PM   #4
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Re: Most Profitable Trade


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Originally Posted by mdshunk View Post
I think mold remediation has some great profit potential in the near future. I've got my local state representative looking into what the state requirements are to be such a contractor.

Along the lines of my trade (electrical), I'm starting to investigate the profit potential for EMF/RFI/Paranormal studies. Seems like there's good profit potential there too, but maybe not so much work.

You must be a watcher of TAPPS? I used to watch it before I ditched all the cable stuff. I say until they allow me to pay per channel I will not subscribe. I am not going to pay for crap I do not watch. Imagine this idea working. That Tapps group came close to where I live to check into the St. Augustine Lighthouse. They looked freaked out. I went on a few "ghost" tours here and in Williamsburg. Very entertaining, but I kinda rained on the parade by telling them to quit being ghost suckers and get with the program and correct thought of they are dealing with Demons. I got into a very heated debate with that Edwards guy who has or had that cable show about paranormal hauntings.
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Old 05-17-2007, 03:47 PM   #5
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Re: Most Profitable Trade


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I think mold remediation has some great profit potential in the near future.
Ding Ding.

I know a few guys doing it and they are making big big $$$$
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Old 05-17-2007, 03:52 PM   #6
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Re: Most Profitable Trade


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Ding Ding.

I know a few guys doing it and they are making big big $$$$
The contractors in my area that do restoration work (smoke and water), don't touch lead or mold. The asbestos contractors are busy with asbestos work. Some of the paint contractors do lead, but there doesn't seem to be anyone in my market that wants to mess with mold. I spoke with an industrial hygienist who seemed confounded by the fear of remediating mold, as he knows it can be done 100% correctly and permanently. The before and after are very measurable and quantifiable.
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Old 05-17-2007, 03:59 PM   #7
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Re: Most Profitable Trade


My brother might be able to give you some insight, he is a licensed mold remediator.

I will see if he will chime in.
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Old 05-17-2007, 04:02 PM   #8
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Re: Most Profitable Trade


We do alot of work that is connected to Mold damage.

Newer luxury Apartment complexes: Pipe leaks, outside drainage issues, hot water tank leaks, frozen/burst pipes, etc.... (it can flow down 4 floor levels and spread)

We are involved with the ''putting-it all back together'' part - after companies like 'Serve-Pro' go in and rip out and remove everything.

(We get called in to do these repairs fast and complete. We even send cleaners in after us. We actually make a good chunk of change from it (Last month alone we did $40K just in this work alone), and we keep acquiring more complexes to do, by word of mouth. That in turn gives us other work to do there)

My point is that, we can easily get ALL the work on these, once we get Mold certified. These complexes already like the fact that we 'do it all' for them. I know that these mold remediation companies make top $$$. We could easily double the amounts we make currently (or more)... doing the repairing portions. And that doesn't even touch other sectors of the work (industrial, residential, commercial, public, state)

Many of the damages are covered by insurance too.
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Old 05-17-2007, 09:57 PM   #9
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Re: Most Profitable Trade


There are all sorts of little niches you would never think of that makes great money. Find one that no one does and become the leader and you will make good money. If alot of people are doing it, chances are you will not make super money, but good money.
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Old 05-17-2007, 10:05 PM   #10
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Re: Most Profitable Trade


Little jobs pay the most because most guys don't want to do them. IMHO, a single, small bath is a big ticket to high profit margins.
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Old 05-19-2007, 05:43 PM   #11
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Re: Most Profitable Trade


Plumbing, can't do without them. Water damages a house badly!

Sounds like alot of you have mold problems in wet areas. I'd say a ventilation solving problem proffession. See, a moisture problem!!
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Old 06-09-2007, 04:21 PM   #12
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Re: Most Profitable Trade


Quote:
Originally Posted by mdshunk View Post
I think mold remediation has some great profit potential in the near future. I've got my local state representative looking into what the state requirements are to be such a contractor.

Along the lines of my trade (electrical), I'm starting to investigate the profit potential for EMF/RFI/Paranormal studies. Seems like there's good profit potential there too, but maybe not so much work.
MD, you've impressed me with the resource material you have apparently read thoroughly.... yet here, you've either faltered, or must be in jest.

Here on the left, mold remediation IS quite lucrative.

And, it's been more than a couple years back where EMF was headline news any number of places here, and places east of us.

Schools evacuated, offices left vacant, govt buildings abandoned.
Oh, and lawyers scurrying around everywhere.

Many significant projects have a resident bone collector on the payroll who MAY shut the job down at any time!

Grab yer gauss meter and hop over here to join in the fun.
U could be the next erin brokovitch.
r
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Old 06-12-2007, 02:49 PM   #13
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Re: Most Profitable Trade


And I found one today.... EMF 828 at Promeasure.com It has 3 axis measurement with a separate probe and has a digital readout in micro tesla and milli gauss scales. Ray, Egon, Peter... watch out ! r
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Old 06-14-2007, 12:45 PM   #14
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Re: Most Profitable Trade


The most profitable trade is the one you paid a paid in full check on the fastest! hehe
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Old 06-15-2007, 07:05 PM   #15
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Re: Most Profitable Trade


Most of our best paying jobs seem to be large square footage tile jobs.
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Old 06-15-2007, 07:39 PM   #16
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Re: Most Profitable Trade


I think the days of big bucks in mold are coming to an end. "Mold is gold" was the saying, but the insurance companies were footing the bill, and now have exclusions in their policies for mold. Most policies limit mold damage to 10K.
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Old 06-17-2007, 10:12 AM   #17
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Re: Most Profitable Trade


While on the subject of making profits and mold. Money is to be made in the educated sale of changing the conditions of a project so that mold does not have an enviroment to exist. HVAC, insulation and vapour barrier, waterproofing....and the such. The mold needs conditions to become a problem. Finding the buisness that removes the conditions give you a larger sales base because the consumer is going to purchase your product as a preventative measure rather then a solution to a existing problem. For every person with a mold problem, there are 2 that would buy the insurance of having piece of mind not to have the problem.
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Old 06-17-2007, 03:12 PM   #18
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Re: Most Profitable Trade


I think plumbing might be the ideal trade. Plumbing basically self destructs and either leaks or clogs. Plumbing service calls seem like a money maker because they're usually emergencies, they can't take weeks to get bids. Also, people expect plumbers to be expensive, their high rates are well known folklore.

Plumbers don't need to stock a million parts either, so setting up a service vehicle would be less expensive. The downside of plumbing is it's really hard work, electricians can go around obstacles but plumbers have to bore right through them.

Plumbers can specialize in lucrative areas like backflow prevention, etc.

Plumbers have it made.
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Old 06-17-2007, 03:44 PM   #19
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Re: Most Profitable Trade


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Plumbers have it made.
Yes and no.

If you work for someone else, and they provide the tools, it's not bad.

If you are supplying the tools, it's pretty expensive, there are quite a few specialized tools that only serve one purpose, but you have to have them to do the work, and none of the tools are inexpensive.
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Old 06-17-2007, 04:05 PM   #20
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Re: Most Profitable Trade


Pool builders have the trade....build a few year, and live like kings...huh Ray?

The pool contractor close to me said he has a great year if he builds 4 pools.

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