Regular Guest
Should i open my own business in this economy?
Hi, so i have been in the trade for roughly 9 years and have finished hvac/r trade school. At this point i have switched jobs 4 times and have a good broad knowledge of the hvac field but i am getting tired of working for companies that dont want to pay well and treat there employees like dirt. I like the trade and enjoy working with customers and making sure that they are taken care of. At this point i am debating whether i should step off the deep end and open my own business or am i better off sticking with my current job which isnt to bad im just getting tired of working for someone.... Give me your opinions please is the grass greener on the other side? How did you start out on your own? where did you find work? Thanks
Professional Member*
I own my own company... took a partner in a few years ago to get into residential... used to be 20 % residential now its almost 60% ... we are very busy... some days I wish I was just a tech .. other days I am glad I own the place.... either way its still a job....
it was working.... played with it.... now its broke.... whats the going hourly rate for HVAC repair
Professional Member*
don't own a business, bu if you're going to do it, nows a good time when it's getting hot out. Sell some service agreements to carry you thru the slow periods
We're awl pawthetic and kweepy and can't get giwrls. That's why we fight wobots.
Regular Guest
At this point I either work hard for someone or myself I'm pretty sure I can get a job working for someone anytime. The more I let the idea marinate in my head the better it seems I don't expect money to fall off trees for me it never had but u live once and I'm young enough that I can afford to start over. That's just my opinion. I want to do thing right not stupid that why I'm asking.any help is apprEciated.
Professional Member*
well when pay day comes and I sign 25,000 worth of checks it makes me squirm a little
it was working.... played with it.... now its broke.... whats the going hourly rate for HVAC repair
Regular Guest
I'm considering a owner/operator setup keep overhead low and helper as a ride along. I don't know if I Want to have employees I know of guys that have the same kind of setup and do quite well for themselves they do work there butts off but take 4 vacations a year and have the unlimited luxury of spending family time with kids whenever they please.
Professional Member*
forget about that...
it was working.... played with it.... now its broke.... whats the going hourly rate for HVAC repair
Regular Guest
*carmon
Why?
Professional Member*
no employees freezer down ...who fixes it.... your on holidays....
it was working.... played with it.... now its broke.... whats the going hourly rate for HVAC repair
Professional Member*
Never had a reason to say this...but if you are in the US I'd wait to see who wins the election. In the mean time I'd use this time to prepare for opening up your own company. And I mean working the figures realistically, figuring on how you are going to get business and what kind of business you can excel at.
Once all that is figured out double the figures you came up with for costs of the first year at least. And reduce the income by half that you have calculated and see where that puts you.
But wait. See if opportunity returns back this nation. If not hold on to all the cash you can.
"The American Republic will endure until the day Congress discovers it can bribe the public with the public's own money.
- Alexis de Toqueville, 1835
Professional Member
4 vacations a year and have the unlimited luxury of spending family time with kids whenever they please.
YA RIGHT ........ Guess I missed that part of being in business for myself
Professional Member*
If he's an employee, the boss sure ain't going to fix it.Originally Posted by carmon
We're awl pawthetic and kweepy and can't get giwrls. That's why we fight wobots.
Member
i think a couple of things to think about are.
can you price jobs correctly?
do you know how to size correctly?
do you understand the code books?
reflect on yourself over the next few weeks. how often do you call someone for help? (like another tech) can you honestly fix the problem all of the time? remember if you cannot fix the customers problem they will find someone who will.
as far as vacations, i suppose alot of it depends on the type of work you do. if you only do installs and dont plan on doing any service you could probably get away with vacations. but if you are by yourself and do any service, every call not taken is a customer lost. i would think as a startup company you would probably work you butt off for at least the first 2 years before you are able to hire a guy... remember you gotta have the work. they wont stick around if they dont get a paycheck.
personally i do a good mix of refrigeration, hvac and foodservice.. its rare to not have at least 1 after hours call.
Member
i guess what im saying is, if any of these things make you second guess yourself. use the next year to go to classes.
maybe you need a hvac duct design class.... maybe a balancing class. maybe just a sales and accounting class..
the big thing is to learn as much as you can. you wont have much free time when your on your own.
Professional Member*
You want to run a 1 man show and service customers.... that is a good start.... my question is when something breaks when the 1 man is away does that not leave zero men to do the repair... am I missing something
it was working.... played with it.... now its broke.... whats the going hourly rate for HVAC repair
Professional Member*
That's an excellent point. Its not about which candidate is going to be small business friendly its about are we going to have a economy left if Obama gets a second term.
This is the guy that said the private sector was doing fine in a speech two days ago. The guys whose so indebted to his ideology that hes pushing for more government positions on a local and state level when States are practically bankrupt.
He' a full on moron. I mean an Actual idiot. He's been insulated his whole life and closely tutored by revolutionaries who think the US is a failure in every way. His closest friends consider this country the enemy and that we're only a great power because we stole the wealth and bullied our way into power.
As far as opening your own business it's not easy even in good economic times. People say start in the summer but Ive seen so many guys try that only to be working maybe 5 to 10 hours a week during the off season.
People dont have a lot of money and are struggling depending on where your located just to make ends meet.
You would be better off moving to a city like Houston where the economy is growing and good HVAC technicians are in demand.
Professional Member*
Before considering entering into business, you must understand the financial aspects of both business and personal.
What are your personal responsibilities. Can you live with a negative income, will this effect anybody apart from your self. (wife and sprogs)
Study your set up costs (van, tools, stock etc) then look at over head costs, phone, fuel, insurance, rent and so on. (less work the more these rise as you spend to find work), then look at cash flow. Can you afford to outlay money, whilst waiting for payment. Are you willing to accept failure and the consequences.
If you are able to cover all costs with no income for a year, then this is a good time to start a business, as clients are more likely to look for someone different to offer a better value for money service. (this does not always mean cheaper). In good times clients tend to stick with what they know.
Professional Member*
Other than the million other queries that we can get into, I have only two questions:
1. Do you have enough customer base to start? Without it, you'll be sitting around a long time waiting for the phone to ring enough.
2. Do you have enough ego to sell yourself and your capabilities to make a living? It is easy to sell someone Else's capabilities, but when it comes to our own, we hesitate.
I started my business in 1985 and have been running this one-horse outfit full-time since 1992. It's a little harder to tell the boss he's an a$$ and that you quit, and there will be times...
One thing I realize though; After 34 years in this trade, I'm just starting to get good
Break a leg.
Is this a Fabreze moment? C.Y.D. I'm voting white elephant. 2¢.
Professional Member
the nice thing about owning your own business is that you get to choose which 100 hours a week you want to work
Regular Guest
So it has been 4 months since i started the thread and i can officially say that i own my own legitimate business. After going through all the government red tape to get licensed paying the THOUSANDS of dollars to get insured and bonded. It has officially been two months since i went legitimate. I can honestly say it is not as easy as you think and it is not as glamorous BUT i honestly have never been this happy working like i am now. You cannot buy freedom. My first month was awesome i was able pay for all business related expenses with my income. Second month started out slow and has remained slow.(october) I picked up a used sprinter for a real good deal and am now able to be more efficent. I Started doing advertising on flyers, angies list, craigslist all have been somewhat succesfull but word of mouth has been the best. I am looking for advice on how to grow my business even more? What have been your best tools/ideas for growing your business?
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