how did you start your company

[nvr2old]

Forget the vehicle wrap, most are to complicated to read. Clean and neat works better. Don't let your wife quit her day job. Sign up with Mitsubishi, free advertising that actually works.

[Theantihack]

I completely agree with most of the comments. Forget the wrap, your gonna need the money! I will not pontificate however. After 18mo. I'm just hitting solid ground when I put my feet down.

[PremiumServices]

4. Know your costs. You need enough income to cover:

1. A good family medical program - $700 per month minimum.
2. Vehicle, gas, ins., payments, depreciation, tires, tune up, repairs, etc. - $670
3. Office supplies including stamps - $30
4. Acct and attorney, if and when needed - $50
5. Magzines and books $40
6. Business taxes - $100
7. Telephone - $50
8. Cellular phone - $100
9. Travel & entertainment - $50
10. Seminars and Trade Shows - $125
11. Uniforms - even just jeans and shirts - $45
12. Small tools - $15
13. Software and upgrades - $30
14. Marketing & Advertising - $200
15. Office Equipment depreciation - $75
16. Liability Insurance - $300
17. Workers Comp OR Disability insurance - $125
18. Bad Debt - $100
19. Guarantee work $100
20. Future Capital Expenditures - $100
21. Owners draw ($1000 weekly) - $4333.00
22. Bookkeeping - ($150 per week) $650

With no provisions for retirement, no vacation pay, no sick time, no other perks and benefits a real job gets you, it comes to about $7950 per month. Anything less and you're working for wages.

I used your nice list as template and plugge in my numbers, came out to $6500, more advertising and software but less on medical ($220) since wife has her own ins. and my salary as a tech set at $20/hour like I used to make as an employee, also my liability insurance at $2M coverage is a lot less - maybe because I don't do gas and oil. All others about the same.

I'm not making that yet (year average) after a year but it's getting better and my new advertising program and just bought CR flat rate should start making a difference by March 2012 I hope.

[energy star]

Don't let the list scare you. You need work. Get work. You can fill in the list as you go. Get insurance now, then get work!

[Southern Mech]

I used your nice list as template and plugge in my numbers, came out to $6500, more advertising and software but less on medical ($220) since wife has her own ins. and my salary as a tech set at $20/hour like I used to make as an employee, also my liability insurance at $2M coverage is a lot less - maybe because I don't do gas and oil. All others about the same.

I'm not making that yet (year average) after a year but it's getting better and my new advertising program and just bought CR flat rate should start making a difference by March 2012 I hope.

do you need 2 mill insurance?

[PremiumServices]

do you need 2 mill insurance?

Not really but for $47.00 dif. from 1M I decided to get it just in case I want to bid on a job that requires higer coverage. Also it looks better when you send your proof of insurance to realtors in waterfront areas that have customers with multimillion dollar houses, even if you are only replacing a cap - they still prefer a company with more insurance. Again, for $47.00 extra/year I didn't even think twice.

The State minimum is $300.000 but that would only save me like $200.00. I pay like $750.00/year for the 2M. (one guy, no subs, only electric heat and heat pump).

[titan2390]

Excellent information above. Taking it one step further. Could someone provide a list of tools and equipment they started with? I know that is a large part of the startup cost.

[PremiumServices]

Reclaimer
Vacuum Pump
Torch set
Leak detector
meter
Puller (fan blade/blower wheel)
Ladders - 4',6',10' + 24' Extension
Vacuum gauge (I use Fieldpiece SMAN3 digital manifold with built in vacuum gauge)
Hand tools - pliers, screw, drivers, wise grips, hammer, hacksaw, copper cutter, pvc cutter, flashlight, gauges, wet vac, nitrogen tank, dolly, gloves, metal snips, adjustable, service wrench, sawzal,hammerdrill, circular saw, extension cords,etc..

Also have some parts: caps,hard starts,transformer,contactors,generic blower and cond. motors, pvc fitting, float switch, t-stats, electrical fittings, copper fittings, dryers, wires, etc...


Maybe somebody else can add the stuff I forgot ....

[bigsky2011]

take note of what stonewallred posted. he is 125% right. keep your van clean and forget the big advertisements, newspaper, yellow pages, ect. They did not work for me. Good work ethics, hard, honest work. And a job well done to the best of your ability. Work will spread of your good work. Do not work cheap either, it will come back to bite you. Be fair in pricing, a couple dollars less than your big competition will be fine. But do not bottom dollar yourself. you do not want those customers anyway, that want cheap. Oh, and give yourself a year or a little more to get established. Good Luck

[titan2390]

Excellent information. Really appreciate the feedback. I hate to but now I have to ask. Horror stories??? The customer who just can't be satisfied or lures you in and then it becomes obvious they are working the system trying to get something for nothing or will simply complain about anything. I know all people in the service industry have them because my wife is a hairdresser and comes home with one every now and then.