Personal / professional advice wanted.

[2WheelTiger]

I really don't know all you folks that well, and you're all over the country so you're the perfect demographic for getting advice. You can also be DICKS, which is OK in this case. Honesty has value.

Ok, some of you know I have cancer, and that tends to mess with my ability to work in industry. Doctor appointments, bad chemo days, and various complications tend to put a boss off when you're in Hospital I.T. and have meetings and system issues.

So, I've decided to become a contractor. It would allow me to work at / around my scheduling issues and there appears to be a HUGE demand in this area. (Most contractors have a long backlog and they apparently turn down work a lot.)

I want to specialize in home repair, remodeling, and light construction (sheds, decks, etc.).

So I'm looking for two things:

First, look at some pics and I'd like to get your opinions as to whether I have any talent at remodeling. I really want you to be honest. My future living sorta depends on having skills.

Second, I need some ideas for a DBA - company name. Some of the names I've come up with seem to be pretty common in the industry (according to the state name-search site). So I'm gonna ask you to think of some names for my DBA.

I'm sorta going with (blank) home service(s): Things like:

Reliable Home Service (there are more than 10 of these).

Quality Home Service (71 of these I think).

Realistic Home Service (I'd be the only one, but Realistic has positive and negative connotations).

Thoughts?

Here are two before and after pics.

REMEMBER, I need a business name idea from your own noggin. Thanks.

 

[Rickster]

It appears you have talent.

Use your last name for the company like: Andre's General Contracting

 

[Scab]

Here's a name for your business:

A Bigger Hammer

Company slogan for ads / business cards:

If at first you don't succeed, get A Bigger Hammer.

Besides, it can't hurt with the ladies when you tell them that you are the owner of A Bigger Hammer.

 

[DailyCommuter]

When I had my own business I used my last name. More than one person commented to me that people who put their name on their business and their work, are better at what they do. After all their name is on it. I feel the same way when I hire someone to do work for me. Good luck. Get a good accountant who you can trust, (perhaps Smith's accounting service) follow your gut feelings about someone who wants to hire you. Don't do verbals or handshakes, always put it in writing. Avoid doing work for family and friends. Don't get into the rut where you want to "help" everybody. Charge a fair rate for your talent. Don't do work for free, cuz you feel bad for someone. Unless you know its like an extreme home makeover type (the show)situation, I always found that people who had the least amount of money always paid the fastest. Rich/wealthy people never pay on time. You will always lose in a court case to get paid so work it out other ways. Always accept cash. Always get a big enough deposit on the work so it covers ALL the materials and your time so far. So that you aren't paying out of pocket for someones material's when they don't pay you on time. There are 2 types of people when it comes time for payment. The type that pay you right away because they want you to do work for them again, and those who feel they need to hold back part of the money in case they need to make you come back. I don't know about you but I could have stayed home today and not got paid.

[SIZE=12pt]Above all else. Return phone calls promptly. [/SIZE]

That goes a long way with people. Even if you're calling them to tell them you are too busy to take the job. You may well be the first one to call them back and still land the job. People hate answering machines.

Stick to your word. Referral's are the best possible way to get new work. Because the people are already feeling good about you before they call you. I could go on and on.

I'll end it with my father's best advice to me, "experience is the best teacher, but it is the most expensive.." I miss him dearly.

Good Luck in your endeavor.

 

[Fencer]

When I had my own business I used my last name. More than one person commented to me that people who put their name on their business and their work, are better at what they do. After all their name is on it. I feel the same way when I hire someone to do work for me. Good luck. Get a good accountant who you can trust, (perhaps Smith's accounting service) follow your gut feelings about someone who wants to hire you. Don't do verbals or handshakes, always put it in writing. Avoid doing work for family and friends. Don't get into the rut where you want to "help" everybody. Charge a fair rate for your talent. Don't do work for free, cuz you feel bad for someone. Unless you know its like an extreme home makeover type (the show)situation, I always found that people who had the least amount of money always paid the fastest. Rich/wealthy people never pay on time. You will always lose in a court case to get paid so work it out other ways. Always accept cash. Always get a big enough deposit on the work so it covers ALL the materials and your time so far. So that you aren't paying out of pocket for someones material's when they don't pay you on time. There are 2 types of people when it comes time for payment. The type that pay you right away because they want you to do work for them again, and those who feel they need to hold back part of the money in case they need to make you come back. I don't know about you but I could have stayed home today and not got paid.
[SIZE=12pt]Above all else. Return phone calls promptly. [/SIZE]

That goes a long way with people. Even if you're calling them to tell them you are too busy to take the job. You may well be the first one to call them back and still land the job. People hate answering machines.

Stick to your word. Referral's are the best possible way to get new work. Because the people are already feeling good about you before they call you. I could go on and on.

.

I agree with a lot of this.

I have done a TON of handshake deals ranging from $500 to $50,000, but then again I am in the South and (most) folks still believe in honor. It has worked for me, but I choose my client as much as they choose me. I rarely have any trouble and in my 10 years only had 1 ****** try to stick me, and all my work was ripped up by a chainsaw by me before he could blink. It cost me money, but that ******* wasn't gonna get it. A contract is a good way to deal. I get a %50 dep ot the beginning and the bal on completion.

I get 1/2 my work on referrals the other 1/2 by phonebook pot luck. I spend $1800 per month on the book.

When I was getting started I used direct mail (I wasn't in the book yet) It does work. Target your zip codes.

If doing home remods, Be vary wary of damage and expence you cant see, old plumbing and wiring can cost you a bundle and a large headache if you didn't put a contengency in your contract.

Look into workers comp rate though your local HBA (Home Builders Assoc.) They typ offer the best rates.

I have been a DBA for 10 years and just changed to an S corp My accountant said it would save me approx $5000 per year in taxes based on my last 4 years. An S corp gives better protection against liability than a DBA. An LLC is better on the liability but not taxes over a DBA.

I could not get your pic links to work.

Were you doing a remod or re-decorating -BIG dif in the two IMO.

Good adverstising is the key to success. I've tried several methods.

You show me how to ride, I'll tell you a lot of my trial and errors.

Stay away from phone book covers, dinner menu adverts etc.

Buying a banner($500 a season for me) at the local HS football stadium is good for name recog and community relations. The name will stick in their head when it comes time to search.

If it is a rush job and has to have been done yest. Charge double get the money up front or run cause it aint nothin but a headache.

I have a lot of advice I could throw you way as a BTDT person.

I forgot:

Thongs Home Showplace

 

[03HiYoSilver]

Andre,

My best wishes to you and your endeavors. I am not sure if you check with your City/County fathers to see if a contractor license may be necessary. If you do go into business and you have a good amount of personal assets, you may want to start a LLC or Limited Liability Corporation to somewhat protect yourself. An you may have to get a Bond from an insurance broker so you can put on your card "Licensed & Insured". This will make a big difference in getting good contracts.

Are you going to get your own medical insurance? Or are you going to be able to use your old companies medical insurance for up to 18 months via COBRA plan?

Hope this helps.

 

[Jetmaker737]

I can't see any of the pics

 

[Fencer]

Are you going to get your own medical insurance? Or are you going to be able to use your old companies medical insurance for up to 18 months via COBRA plan?
Hope this helps.

Very good point,

Being self employed, Insurance is a nut buster AT BEST!!!. I pay $500 per month for the best I could find and still afford and it still sucks. It would really only come into play on a MAJOR medical.

In your case, with a prior history, unless you are already covered under a spousal/ Sig-other plan you are prob SOL on health insurance.

You can also be DICKS, which is OK in this case. Honesty has value.

Sorry buddy, I have to....

Remodeling by Dicks are OK :wub:

With the slogan

I really know how to swing a Hammer

 

[2WheelTiger]

The only trouble with using my last name is that nobody can say it or spell it. It would actually be a detriment.

Having owned my own motorcycle shop for some time, the basic business concepts are the same. In fact, I finally left the MC business because nobody has any damned money and everybody wants something for free. I could tell stories forever. FWIW - it was mostly a sportbike/racing shop so my target market tended to be underfunded squids or racers. Certainly the custom bike, Wing, and S/T market is a bit different.

Interiors by Andre might be a good DBA, but that would tend to keep me out of the shed and deck business. It's market limiting.

 

[KSFJR]

Lots of good advice. #1 and probably most important, stand by your word. If you do the job correctly and timely they have nothing left to ***** about, although they still might. You are in peoples houses and disrupting their life so get in and get out.

I am a CPA and you need to find a local business attorney to set you up as an LLC as previously mentioned for legal protection. Will probably be in the $250 to $500 range You don't need to be a Sub-S Corporation, just another return and more paperwork and expense. You also need to get a good accountant or CPA. Get a small firm, or sole practititoner, you do not need a big firm. They will charge you big time fees and you don't need it. They should be able to help you set up Quick Books if you are unfamiliar with the program and get you on the right path. I can't emphasize enough doing this up front. Its next to impossibile to undo mistakes.

Also, you apparently have a computer so get Quick Books to do your accounting work. You can get it from Office Max, Office Depot, Staples, or on line. Run all receipts and all payments through that. Will save a lot of time later on. Get a notebook to keep track of all your vehicle trips. You will want to deduct the vehicle expenses. Whether or not you deduct the cents per mile the IRS allows you or the actual vehcile costs depends upon your circumstances. In real simple terms, if you are spending money because of your work, it will almost always be deductible. Meals, for example if you take a client to dinner, are also deductible but only 1/2 of the cost of the meal. The biggest mistake is that you forget cash payments that you make and are not able to deduct those costs.

Your accountant should be able to answer this as every state is different when it comes to sales tax but find out whether you should be charging sales tax or not. If you don't and later on find out that you should have been, its awfully hard to go back and get your client to pay so you are going to be out of pocket for the taxes plus penalty and interest. In Kansas, materials are taxed but labor on new construction is not. Missouri is the same way.

If I can answer some accounting questions, PM me. But if it involves brain surgery, naugh naught spy, or fry cook, you'll have to call Jethro Bodine from the Beverly Hill Billies.

Good luck,

Chester

 

[Fencer]

Interiors by Andre might be a good DBA, but that would tend to keep me out of the shed and deck business. It's market limiting.

How bout

Andre's In and Out

with a sub line for you specialties.

Mine is

J&K Fencing

"Specializing in wood privacy fences"

A big market here for the "privacy" fence, but I do other types of fencing as well.

Matter o fact I just got done working for "THE MAN" reads IRS so I am now an official Govt contractor.

 

[2WheelTiger]

Pictures are fixed.... in fact, they're up there in the original post.

I have insurance coverage thru my S.O..... Cobra is $557 per month. DP benefit insurance is only $57 plus a slight change in income tax that amounts to another $104 per month. $161 is cheaper than $557, even up here in the PNW. :lol:

I need a contractor's license in WA, and I also need a bond that I can get thru my regular insurance carrier. Yes, there are costs and expenses, but at least I don't need to buy a truck and rent a shop/facility/office.

Assets? I have a house on the west coast...... so I have DEBT. Lots of it. :lol:

 

[2WheelTiger]

Mine is
J&K Fencing

"Specializing in wood privacy fences"

A big market here for the "privacy" fence, but I do other types of fencing as well.

Matter o fact I just got done working for "THE MAN" reads IRS so I am now an official Govt contractor.

And all this time I thought you were a dealer in hot jewelry and electronics. I was gonna try to get a cheap HDTV! :lol:

 

[OrangevaleFJR]

Andre's Contracting

That way they remember it and it's early in alphabetical listings.

Heck...Aandre's would be good too

 

[Bustanut joker]

And all this time I thought you were a dealer in hot jewelry and electronics. I was gonna try to get a cheap HDTV! :lol:

Shoot! For the longest time I thought he was one of those prancing swordsman in tights. :flirt: Still have an occasional vision :bad:

:jester:

 

[TriggerT]

Before I took my current job as a custom millwork project manager, I ran my own Handyman company, and before that worked as a custom cabinet maker. If you would like, shoot me a PM and I can call you sometime.

Good luck, and make sure to return people's phone calls, it can make your company in a hurry. I have been out of the handyman business for close to 3 years now, and I still get 2-3 calls per week from people looking to have work done.

 

[Fencer]

Bonding is usually only used in large-ish govt jobs and does not apply to homeowners.

A performance bond meaning you will do the work or if you walk off the bond is forfited to cover the cost to hire someone to finish.

You will need workers comp (depending on your states rule's- I as the owner am exempt and covered under my own insurance) for employees. If you are gonna be a one man show, you may only need general liability ins.

Also, depending on your state, you may not need a contractor lic. Here, a gen contract lic is only req. for jobs over $50,000.

If most jobs would fall to the 5-20K range, the lic may not be needed. Check you local laws.

feel free to pm me and we can do a # exchange and talk if you like.

ya, know,

this is just great, I post in EOM that I am tired of sleeping with men when away from home and here I am asking for a phone # B)

Yes, Borrec that ones for you

 

[drew231506]

Andre,

I always enjoy reading your posts and I have read through a lot of your blogs. Great info along with some really really tough stories. I wish you the best with your new business venture and with your roller coaster battle against cancer. And keep on writing...

Picking a name is difficult...you should somehow tie it into all you have been and are going through.

Inspiring Designs

Triumph Home Services

'Dre's Designs

 

[Fencer]

And all this time I thought you were a dealer in hot jewelry and electronics. I was gonna try to get a cheap HDTV! :lol:

Shoot! For the longest time I thought he was one of those prancing swordsman in tights. :flirt: Still have an occasional vision :bad:

:jester:

Who says I'm not? aladin:

link