Contractor Talk - Professional Construction and Remodeling Forum banner

1 - 6 of 6 Posts

·
Registered
Joined
·
1 Posts
Discussion Starter · #1 ·
Hello all, I hope this comes up in the right discussion section.

I am new to this site. I was a union carpenter for 7 years, however in this economy and with me going up in pay, i have been laid off for some time now. So i decided to start up my own contracting business. I have paid for the insurance, the license, our logo, even paid a lead company who i believe wont ever send me a single lead! I am having a hard time getting off the ground and getting work. Any advice on getting work would be extremely appreciated! I was making an excellent salary in the union, to making peanuts with unemployment. I have a large family to take care of, and i really need to find work soon.

Is using a lead company the best way to go? I am insured for residential and commercial. I would prefer to do commercial, however, I am a little skeptical. What if the GC doesn't pay right away to cover the expenses and workers? Also, in your experience, getting residential work as a new business, is it hard? Don't customers want to see previous work?

Sorry my questions are all over the place here. I am a little frustrated and have allot to ask!

Thanks in advance!
 

·
Registered
Joined
·
346 Posts
good for you, glad you are going off on your own. but as for getting yourself out there, just start hitting everything you can with all you've got. I mean, you want this to work, right? door to door with flyers, emails to real estate offices promoting your business, cards, anything to get your name out. the limits are only with yourself....BUT...I would not sit on my arse and wait for a lead generator.....Hell, Ive even scored jobs walking around Home depot acting like I was shopping only to have a potential customer as me for help....(helped wearing an orange shirt and my home depot installer badge) lol

as far as commercial jobs, here in Cali anyways, I have waited as long as 90 days to get ANY monies owed. most of them, you have to carry the full financial burden including materials, payroll, etc....and sit for awhile....thats why I myself try to stay away from that realm. Id rather collect that check as I am loading up my tools.
 

·
Project Manager HFH..
Joined
·
3,711 Posts
Hello all, I hope this comes up in the right discussion section.

I am new to this site. I was a union carpenter for 7 years, however in this economy and with me going up in pay, i have been laid off for some time now. So i decided to start up my own contracting business. I have paid for the insurance, the license, our logo, even paid a lead company who i believe wont ever send me a single lead! I am having a hard time getting off the ground and getting work. Any advice on getting work would be extremely appreciated! I was making an excellent salary in the union, to making peanuts with unemployment. I have a large family to take care of, and i really need to find work soon.

Is using a lead company the best way to go? I am insured for residential and commercial. I would prefer to do commercial, however, I am a little skeptical. What if the GC doesn't pay right away to cover the expenses and workers? Also, in your experience, getting residential work as a new business, is it hard? Don't customers want to see previous work?

Sorry my questions are all over the place here. I am a little frustrated and have allot to ask!

Thanks in advance!
Operating capital. That's can be a tricky part for a new contractor. Like 98 said, don't expect to get paid right away. 30 day net is usually the norm.
 

·
Pro
Joined
·
76 Posts
i am in the same boat as u..i started up almost a year ago..ive done a decent amount of jobs so far.but i scraping by..i hope i can stay in business because i really love what i do,and i love the look on a home owners face when i get done with their project!
 

·
Super Moderator
Joined
·
11,937 Posts
Operating capital. That's can be a tricky part for a new contractor. Like 98 said, don't expect to get paid right away. 30 day net is usually the norm.
What JJ said.

I have no hard percentages, but if I was to take an educated guess, 90 percent of contractors out there in my area have no operating capital at all and take one deposit from a new customer to finish up on the current job that they have already been paid for. That's a bad cycle to get into and I've seen some bad consequences when the next deposit isn't readily available.

Spend some time writing a business plan (with ALL the elements including cash flow projections based on your best guesses) and keep it reasonable.

Just because you are in business doesn't mean you won't have slow time. I've been around since dirt was invented and I am slow right now too.:laughing:
 
1 - 6 of 6 Posts
Top