I am new at the forum, and just wanted to get some opinions from the vets. I am curently employed at a bridge company as a field welder making o.k money with a company truck, but I am looking for more while I am still young and willing to work my ass off to make it. I am thinking of starting my own mobile welding service, but don't want to leave a good job if I can't succeed. I am recently married with no children and am on my wifes insurance wich is one less thing to worry about. I am certified 3,4,6G with the GADOT, and about to get aws certs. I have years of experience on structural work, a little pipe, and alot of machinery repair experience. There are a shortage of quality welders around here. All of the old guys have retired, and there are no young guys willing to learn this trade. I have good contacts with the bridge building companys around here, and could stay pretty busy right now on just equipment repair. I strive to do good work and am always trying to learn a new skill. What do you guys think about mobile welding only or should I have a shop. I have a shop but not something I could put a sign on if you know what I mean. Any advice will be apreciated.
Hello Robert C, from the sound of it to me, it seems as though you have everything you need to succeed except for the little push from yourself to go out there and get it started.
If you don't feel as though you have the necessary skills to operate a business on your own at this time, I would have a few suggestions. Check out some of the business classes that might be available through an area community college. Many will have community service classes that are designed just to help individuals prepare to open businesses on their own. Some communities will also have groups of retired business leaders who get together with the sole purpose of helping people to get started with their businesses. These classes and groups can help you understand what will be required of you with regards to licensing, accounting, insurance, bonding where applicable, taxes, and any number of other topics that relate. If you happen to know any accountants you might want to sit down with them and talk over some of the things that they might have to say about a personal business such as the one that you would like to start.
As I said above, I would say that you have all of the basic necessities, now you just need to pull everything together and make it happen. If your wife is behind you and you take a methodical approach to setting up all of your business details you should have no problem in getting a successful business off the ground. Another thing you commented on, you don't have any kids at this point and your personal insurance issues can be covered through your wife at this point, so you are in an ideal position to get this off the ground. Good luck and regards, aevald
From My own poor judgement I can say You would be wise to learn how to do the tax accounting/depreciation schedules early on, or get hooked up with an accountant early. It is a real scramble if You wait untill just before the taxes are due to pull it all together, and then all the pros are buisy with their exhisting customers and have no time to help You.
i'm thinking about opening a small shop. i'm just going to do the weekend thing for now and see if it takes off. if it doesn't, then just the extra money will still help out. my shop is next to the house in a residential area so i can't put a sign out either but, i won't be open to the public.
if i was you, i would talk to the people that you think might give you some work and find out what they think.
Hi Bob
Dave has some good advice, find a good accountant. After all it's not about building a bridge, placing a pipeline or repairing heavy equipment. It's all about the $$$$$$$!!!!!!!!!
My accountant has put thousands back in my pocket while I work for an employer 8 months out of the year and do a little fabricating, welding, some autobody and paint work on the side.
I sorted through several accountants before I found one that was confident enouph about his abilities to accomodate my situation. Most are more worried about thier reputation more than actually putting money back in your pocket.
I'm still toying with the idea of running my own full time welding service but in the meantime the thousands spent aquiring equipment for my hobbie/business are deductable as well as 50% of utilities, taxes, insurance and vehicle allowances. The business has yet to show a profit on paper, but puts a big dent in my tax bill to uncle Sam.
FYI My accountant had me inventory all the tools and equipment with prices and other info,turned out my little shop had about 32K in it.
The 2 hours $200 spent initially with my accountant was the best money I ever spent, Oh that's deductable too.
I found out that good documentation and record keeping is essential to running a business and making my accountant comfortable. I would say that I'm better prepared for an IRS audit than preparing a bid.I heard so many stories of guys just starting thier business then showing up at the accountants office the next spring with an envelope full of reciepts for him to decipher.
Sounds like you need a little shove. Mine came from a good accountant! It's all about the money!! Best of luck.
Randy
I have a shop because the amount of work in the field became too much to bear. Mobile unit FIRST, then the shop. If you can hustle in the field, you don't need a shop, right? . . . . . .
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