wanting to start a buisness

[mckenna]

This is my first post on this site so i would like to say hi to everyone my name is Tim and thank you for the replys in advance! I have been in this field for over 5 years now and i worked as a private contractor for a single company for 4 of them years prior until i work dried up due to the owner being 60+ years old and getting tired and told everyone to go screw themselves... since there was no work i decided i needed money and went to be an employee. cant do it anymore. i talked to my previous employer and he is now retired. still working tho on jobs he wants to do turns down the rest. and he said that next year him and another hvac company want to both be done. so i want to start my own buisness in that area. i currently live paycheck to paycheck with majority of the tools i need, no van, no break but wondering how i can get started i got a workshop just need to get some finances to get it started and then it will roll on its own. so looking for some ideas on where to get some financing to get started.

[Tommy knocker]

Don't take this wrong but one of the first things you need to find is some one with a lot more experience to help you. Perhaps the guy you were working for. Not to run your business but for advice on things you haven't seen yet that pop up. Good luck. I hope you hit it out of the park and make millions.

[Frosty123]

Don't take this wrong but one of the first things you need to find is some one with a lot more experience to help you. Perhaps the guy you were working for. Not to run your business but for advice on things you haven't seen yet that pop up. Good luck. I hope you hit it out of the park and make millions.

Hey tommy, check out junk yard ..refrigeration co for sale

[mckenna]

Yea I have alot of resources for stuff I have yet to encounter but if I was to wait that long to start I might as well find something else to do as everything is constantly changing. I have alot of service experience as well as installation. and my name is already around the area so should be easy to get started... So really looking to know if someone knows about government grants/loans for this trade as I have heard they are hard to get...

[jtrammel]

All you need is a van and tools to get started, as you make money, invest in the company and it will grow if you work hard at it. Expect to work long days and not make any money for the next few years. Don't get a bad reputation bc you will never recover. Do quality work.

[Frosty123]

Hey Tim , check out junk yard refrigeration co for sale

[mckenna]

All you need is a van and tools to get started, as you make money, invest in the company and it will grow if you work hard at it. Expect to work long days and not make any money for the next few years. Don't get a bad reputation bc you will never recover. Do quality work.

yea i could do that but i do need a few things yet to get it started... ex. a van n a break would be the 2 things i would need n small buisness loan or a government grant would take care of that. but im guessing no one has tried that route to start up new...

[jtrammel]

yea i could do that but i do need a few things yet to get it started... ex. a van n a break would be the 2 things i would need n small buisness loan or a government grant would take care of that. but im guessing no one has tried that route to start up new...

You could get a loan, I wouldn't count on the government all they do is mess everything up. You would need a Pittsburgh and brake if you're planning on building duct. Most times its cheaper to buy prefab duct anyway unless its something that has to be custom made for fit purposes.

[mckenna]

You could get a loan, I wouldn't count on the government all they do is mess everything up. You would need a Pittsburgh and brake if you're planning on building duct. Most times its cheaper to buy prefab duct anyway unless its something that has to be custom made for fit purposes.

yup i would do the prefab to start and if i would need any custom built duct i could just do a hand pittsburgh to get me by until i was able to afford the machine. but your right the government im sure to get anything from them would take about a year or better. i may just buy a used van n a break with taxes and go with it.

[ga-hvac-tech]

Again... please do not take this personally... Running a business is a different skill than doing the work... regardless of what business one gets into. I am not saying anyone cannot do it... many (including myself) did and do. Just knowing one needs to learn that different skill is what I am saying.

Get yourself a van. If you have a couple of CC's... cash one, then bal-X-fer to another at a low % rate. Then PAY IT OFF! Best to not have high overhead if you can avoid it. Cash will be your biggest asset and the hardest thing to get. Better to poor-boy it until you have reserves.

Service (treat the customer good) is the key to building a business. Work long hours, make everyone happy, do whatever you have to do.

If the older guys who are retiring will agree to help you... get them to write a letter of recommendation to introduce you... and ask if you can call them from time to time for advise.
Make friends at the supply houses... and other contractors.
I am sure you are aware of this: Get your license, your EPA 608 card, and a Gen/Liability policy. Better to have it and not need it... than to need it and not have it.

Get PRO status here at H-talk... there is a HUGE amount of information behind the Pro door... well worth it.

And keep in touch... we all like to see/hear success stories.

[mckenna]

Again... please do not take this personally... Running a business is a different skill than doing the work... regardless of what business one gets into. I am not saying anyone cannot do it... many (including myself) did and do. Just knowing one needs to learn that different skill is what I am saying.

Get yourself a van. If you have a couple of CC's... cash one, then bal-X-fer to another at a low % rate. Then PAY IT OFF! Best to not have high overhead if you can avoid it. Cash will be your biggest asset and the hardest thing to get. Better to poor-boy it until you have reserves.

Service (treat the customer good) is the key to building a business. Work long hours, make everyone happy, do whatever you have to do.

If the older guys who are retiring will agree to help you... get them to write a letter of recommendation to introduce you... and ask if you can call them from time to time for advise.
Make friends at the supply houses... and other contractors.
I am sure you are aware of this: Get your license, your EPA 608 card, and a Gen/Liability policy. Better to have it and not need it... than to need it and not have it.

Get PRO status here at H-talk... there is a HUGE amount of information behind the Pro door... well worth it.

And keep in touch... we all like to see/hear success stories.

thanks for the reply. and great advice. i do know as i have done the running a buisness part as i was a private contractor for 4 years and ran the buisness for one of the guys that are retiring. long story short he was tired and got everyone pissed at him and said if his name was still there. i wouldnt get any work... and yes i have all my licenses. u did add a great point i also need to get a liablilty policy thanks for reminding me and yes i will try to move up here as i see this is a good forum and active! surprised that there is a forum for us hvac guys that is active with alot of useful information.

[ga-hvac-tech]

thanks for the reply. and great advice. i do know as i have done the running a buisness part as i was a private contractor for 4 years and ran the buisness for one of the guys that are retiring. long story short he was tired and got everyone pissed at him and said if his name was still there. i wouldnt get any work... and yes i have all my licenses. u did add a great point i also need to get a liablilty policy thanks for reminding me and yes i will try to move up here as i see this is a good forum and active! surprised that there is a forum for us hvac guys that is active with alot of useful information.

Sounds to me like there will be one more licensed and insured HVAC guy soon... GOOD DEAL!

BTW: Where are you located (city/state)?

[mckenna]

currently pequot lakes minnesota will be relocating around wadena mn when this all goes down

[pilotlight]

Good luck. On the break subject. Just wait for it.No need to have a big piece of equipment. That is going to take up alot of start up cash.

[mr. hvac]

So you are one of those who yearns to be free, master of your density! It can be done, and why not you, just go for it! Do good work, be honest, avoid pitfalls, you'll do great, or maybe you will find that it's not really for you. most important have fun doing it!

[toocoolforschool]

Oh and don't forget the worst part is waiting for the phone to ring and Be carefull what you wish for.

[Carbon]

Have you tried to make a deal with the guy you were working for? You possibly could offer him a share of the profits for a few years for his name and customers. I worked for a guy without the best reputation. When he retired I bought him out over 5 years. When people heard he was no longer here, sales immediately increased. If you have been subbing for him, you probably are familiar with some of his customers. Additionally, you can cover his warranty work, allowing him to cut the cord sooner.

[contractorr]

Financing is the core issue before going to start any business.I think there should be about 40% your own investment and 60% may be financed by any financial institution at the minimum lower interest rate.

[toocoolforschool]

Financing is the core issue before going to start any business.I think there should be about 40% your own investment and 60% may be financed by any financial institution at the minimum lower interest rate.

A hvac company is attrative because of low start up costs. Getting a loan is the kiss of death.

[pilotlight]

A hvac company is attrative because of low start up costs. Getting a loan is the kiss of death.

Damn right!!!