This topic is a great idea.Maybe it can be divided into different countries.I know the local shop here pays $5000 month insurance(a one man shop),but you dont have to have insurance but it depends ont the company that you may work for.
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Thread: New Business Tools?
10-09-2007, 09:02 AM #11Member
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- Oct 2007
10-09-2007, 11:45 AM #12
An awesome resource you can use now
In case you don't know about it already, Microsoft has an impressive cache of pre-made invoices, legal docs, forms, etc., that are free for the taking.
Here's the URL:
They will definately help you streamline almost any process you have!
10-10-2007, 09:48 AM #13Member
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- Oct 2007
Sign me up
This is a GREAT idea I would really appreciate something like this as I aspire to break out on my own. This would be an asset (I think) to people who already have their own business to cut overhead and bring new things to the table they haven't thought of. Setting rates, rig set-ups, insurance references would help me out a lot.
Last edited by BDJ; 10-10-2007 at 09:51 AM.
10-10-2007, 05:14 PM #14
how about links to places that offer financial grants or the likes to starting up small businesseswelder_one
nothing fancy, just a few hot glue guns for metal
10-10-2007, 10:27 PM #15
To begin with, I think this is a great idea to pursue. Thanks, Miller. The topics already listed are some musts. I'm not exactly sure how this idea would fit, but maybe a section of "real life" stories of how guys got to where they are now, and just some words of wisdom for up-and-comers. I've only had my business for four years now and have learned more than all the years of schooling before that. One of the key things that cause a lot of problems early on that no one really talks about is the need for good ol cash capital. When starting something on your own, most people can't even imagine everything that is going to surface and bite you. Case in point...it cost me $150 earlier this week to file two pieces of paperwork...not to get a license or permit, or anything like that, but just so that I could have the privilege to hand paperwork over and wait for them to tell me what I did wrong or left out and come back when it's corrected. you do that a handful of times on things and bamm..there's a grand gone and absolutely nothing to show for it. Or the reality that, (to the surprise to most employees) an honest business man is the last person that gets paid...if at all. On a few occasions, the subs, the suppliers, and everyone else went home with $, but I was scrounging material for returns just to keep from COSTing me $ to do the job. Granted, part of that is thwarted by good bidding, but sometimes things happen and you just have to make good on it if you ever want work in the future. Or the fact that on one project, we were on a tight schedule and come to find out, since we were in a remote part of the county, the building inspectors only came out when they had a certain number of inspections to justify the trip. We lost over two weeks for ONE TWO FOOT LONG BRACE that was missing because we couldn't proceed to the next stage without inspection and he failed it the first time. Other contractors had to pull off because they had other work and couldn't wait. You factor all that, plus bank interest and that one $.50 part cost us over two thousand dollars.
Ok, I'll stop, I'm getting worked up...
Don't get me wrong...I love working my own show and will work 80hrs/week because I want to anyday over 40hrs for someone else because I have to. Ups, downs and the in between...no day is the same and it's never boring. If you like a check every Friday and two weeks a year, think twice. But.....If you wake up and can't wait for the day to start and make something happen just because Capitalism and America are two awesome things that most people never utilize and so many people in the world would love just have our daily CHANCES just once in their life....then go for it!
Last edited by SkidSteerSteve; 10-10-2007 at 10:53 PM.Bobcat 250, MM 210, Syncrowave 180, Spectrum 375
Cat 242B Skid Steer, Challenger (Cat/Agco) MT275
1 Thessalonians 4:11-12
10-10-2007, 10:44 PM #16Senior Member
- Join Date
- Aug 2007
- Honolulu, HI
I prefer an article posted in the resources section. That centralizes the information and makes it a lot easier than searching the message archives. You could (should?) also have a link to a special thread for that article on the message board for people who want to discuss the article.
I'd like to see an article on liability and E&O insurance. And since every industry has its own specialized insurance carriers, which carriers provide that type of insurance for small welding shops.
Somebody else already mentioned it, but I think I'd like to see an article on how to arrive at a fair price or hourly rate so you don't go broke.
Some articles on how-to-start-your-own and how-to-run-your-own tips would be great too.
Topics like taxes, etc.:
Since the principles of taxation and employment laws are pretty much the same, you could have an expert to generally discuss federal, state and local taxes, FICA, unemployment, withholdings, employee benefits, etc., that an owner would need to be aware of.
But since the tax laws keep changing, and tax laws vary from jurisdiction to jurisdiction, you could also provide links to the appropriate taxing authorities. I've seen websites that have links to every US state tax department, as well as links to some other major countries. Or maybe separate sections for US and non-US?
By the way, IRS and SBA both provide a lot of small business resources to US business for free -- in print, PDF or CD/DVD. They also provide classes and workshops, both online and locally.
Last edited by jonnymag; 10-10-2007 at 10:47 PM. Reason: clarification
10-11-2007, 07:28 AM #17
I agree with SSS, Real life stories are great if people would like to share. I am sure there are guys on here that touch every aspect of the industry. Small business to large, part time and full, and other professions that use welding in the course of the job. And how they arrived at where they are and what their future plans are
Thanks Miller, and everyone else who adds their thoughts. All valuable!Scott
HMW [Heavy Metal welding]
10-11-2007, 09:24 AM #18Member
- Join Date
- Oct 2007
Welding for a living
A "welding for a living" category would be awesome! Would it be possible to include some type of consumables calculator/tracker? Thanks a million!
10-13-2007, 08:59 PM #19
Heres something for the Canucks out there:
Welding equipment may fall under the production equipment catagory and In BC for sure, you may go without having to pay PST on the welder or cutter. Consumables such as gas do not fall under this catagory. My accaountant knows all the details. I just agree with her ands say: " oh, Okay..."
I think links would be a good idea, or a secton on the web devoted to the business of welding. calculations, costing, if possible current avg costs for materials (big order but...) i dont know. My gig is signage so.. but i like the idea of some sort of information being available.Will it weld? I loooove electricity!
Miller 251/30A spool
Precix 5x10 CNC Router12"Z
Standard modern lathe
Cheap Chinese mill that does the trick... sort of...
horizontal 7x12 bandsaw
Roland XC540 PRO III
hammer and screwdriver (most used)
pooper scooper (2nd most used...)
10-18-2007, 10:51 PM #20Senior Member
- Join Date
- Aug 2007
- New Orleans, LA
Info on bidding would be really helpful. I leave tax stuff to accountants mostly. It's only fair because they leave welding to me. Besides that the tax code is complicated way too much and changes every year.Lincoln: Eagle 10,000, Weld-Pak HD, Weld-Pak 155, AC-225, LN-25 wirefeeder
Miller: Syncrowave 250DX Tigrunner
Westinghouse: 400+ amp AC
ThermalArc Handy wirefeeder
1 Harris, 3 Victor O/A rigs
Too many other power toys to list.
Do it right, do it once. And in all things ya get what ya pay for.