Seriously thinking of starting two companies. Would love feedback.

[KelJu]

If what you are doing isn't working, try something else. Job hunting is not going well. I refuse to work some shithole helpdesk support for less than I am making now to get experience.

I have had a side business going for years along with my full-time job in mobile that pays well, but I don't have much time to dedicate to it.

My best friend and I move high dollar antiques that rich people don't trust regular movers to handle. Our rate is high, more than $60.00 an hour, and these people are more than glad to pay it. My friend and I are both bodybuilders, professional looking, and know a lot about antiques. We don't advertise, and we don't look for work. The work finds us.

We want to get serious about this, and turn it into a company. We already have the contacts, customer base, and most importantly, a good reputation. We are in good with every high dollar interior decorator in southern Alabama and parts of Florida. We are on a first name bases with millionaires left and right.

So here is the company vision:
We are professional movers of fine antiques. We don't have our own truck, so we will have to rent a truck on days where we have work. This is good and bad. This means we have no overhead for days when we don't have work. This is bad for rental cost eating into our profits. Truck rentals in the pas usually end up cost us on average $200.00 but with gas prices going up, it might run higher. We can clear 1,500 for a 14 hour moving day - $300 truck fees+gas for good measure leaving us with $1,200 profit for a days work. It would only take 3 big jobs a month to stay a float and pay all of our montly needs, food, rent, gas, bills, ect.

We get tons of calls for small jobs like moving a few antiques around in their house. This would be where we apply an hourly rate, and woudl have no overhead on these days. We get these calls all of the time. Decorators want to play musical furniture with a clients house until they get the right look, but decorators can't afford full time movers so they call us. Decorators are making anywhere from $100-$150 an hour + 20% commission on everything they buy from the dealer. They have gladly paid us $200.00 for 2 hours work in the past.

There is tons of money to be made here if we would just leave our current job and have the time to devote to it. I talked to my good friend who use to be my boss that taught me nearly everything I know about antiques. He left and started his antique restoration company and is now making a killing. HE said my idea is brilliant and would circulate the info to clients that we are now doing this full-time.


Second Company:
This is a long term plan. I want to continue my study of computer networking while doing the other company. I want to start taking small jobs as a network consultant specializing in Cisco. As my skills improve, I can slowly take on larger and more complicated jobs. In doing so, I will get the experience I need if I later want to pursue a full-time career in computer networking.




I think doing both of these simultaneously will keep me plenty busy during the month. The furniture idea is hard labor and tough work, but it pays well and I am in peak physical condition. It can be my cashcow for helping me jump start my IT career. I hate the idea of being self employed, but my plan seems sound. I will work out the details, and refine both ideas, but I need lots of input from business owners here. I need to know what you know from yoru experiences. What do I need to lookout for. What things should I consider. What do I need to have in order before starting to advertise. Do I need to be bonded at first?

We will also need a small amount of supplies to get started. Should I look into getting a small business loan? Are there good books out there for people who are starting small businesses that can some up the important aspects of running a small business?

 

[Doublebase]

And you said 26 was just another year. Good to see your goal setting. I was beginning to think you were just a pot head with good genetics. One question. What happens if you drop a 120lb antique down a flight of stairs and it smashes into pieces? Do you have insurance to cover this? I mean that could be hundreds of thousands of dollars. All in all it sounds like a good business and you seem to know the a lot about it. I would go for it while you are young. Good luck.

 

[KelJu]

And you said 26 was just another year. Good to see your goal setting. I was beginning to think you were just a pot head with good genetics. One question. What happens if you drop a 120lb antique down a flight of stairs and it smashes into pieces? Do you have insurance to cover this? I mean that could be hundreds of thousands of dollars. All in all it sounds like a good business and you seem to know the a lot about it. I would go for it while you are young. Good luck.

A: My friend and I have a combined experience of 10 years, and we have never dropped anything.

B: We are both restoration experts. We fix other people's mistakes everyday. I am fixing a movers mistake today on my current project where they scratched the shit out of the top of a 120 year French farm table. There is no antique that I can't repair.

C: Just in case, I was thinking about getting bonded, which means insured for damages.


All good points that I didn't include in the first post.

 

[ZECH]

How will the bank assume you will pay the loan back if this is a non-established business?

 

[maniclion]

If what you are doing isn't working, try something else. Job hunting is not going well. I refuse to work some shithole helpdesk support for less than I am making now to get experience.

I have had a side business going for years along with my full-time job in mobile that pays well, but I don't have much time to dedicate to it.

My best friend and I move high dollar antiques that rich people don't trust regular movers to handle. Our rate is high, more than $60.00 an hour, and these people are more than glad to pay it. My friend and I are both bodybuilders, professional looking, and know a lot about antiques. We don't advertise, and we don't look for work. The work finds us.

We want to get serious about this, and turn it into a company. We already have the contacts, customer base, and most importantly, a good reputation. We are in good with every high dollar interior decorator in southern Alabama and parts of Florida. We are on a first name bases with millionaires left and right.

So here is the company vision:
We are professional movers of fine antiques. We don't have our own truck, so we will have to rent a truck on days where we have work. This is good and bad. This means we have no overhead for days when we don't have work. This is bad for rental cost eating into our profits. Truck rentals in the pas usually end up cost us on average $200.00 but with gas prices going up, it might run higher. We can clear 1,500 for a 14 hour moving day - $300 truck fees+gas for good measure leaving us with $1,200 profit for a days work. It would only take 3 big jobs a month to stay a float and pay all of our montly needs, food, rent, gas, bills, ect.

We get tons of calls for small jobs like moving a few antiques around in their house. This would be where we apply an hourly rate, and woudl have no overhead on these days. We get these calls all of the time. Decorators want to play musical furniture with a clients house until they get the right look, but decorators can't afford full time movers so they call us. Decorators are making anywhere from $100-$150 an hour + 20% commission on everything they buy from the dealer. They have gladly paid us $200.00 for 2 hours work in the past.

There is tons of money to be made here if we would just leave our current job and have the time to devote to it. I talked to my good friend who use to be my boss that taught me nearly everything I know about antiques. He left and started his antique restoration company and is now making a killing. HE said my idea is brilliant and would circulate the info to clients that we are now doing this full-time.


Second Company:
This is a long term plan. I want to continue my study of computer networking while doing the other company. I want to start taking small jobs as a network consultant specializing in Cisco. As my skills improve, I can slowly take on larger and more complicated jobs. In doing so, I will get the experience I need if I later want to pursue a full-time career in computer networking.




I think doing both of these simultaneously will keep me plenty busy during the month. The furniture idea is hard labor and tough work, but it pays well and I am in peak physical condition. It can be my cashcow for helping me jump start my IT career. I hate the idea of being self employed, but my plan seems sound. I will work out the details, and refine both ideas, but I need lots of input from business owners here. I need to know what you know from yoru experiences. What do I need to lookout for. What things should I consider. What do I need to have in order before starting to advertise. Do I need to be bonded at first?

We will also need a small amount of supplies to get started. Should I look into getting a small business loan? Are there good books out there for people who are starting small businesses that can some up the important aspects of running a small business?

I started my own IT Solutions company right out of school, their are plenty of small to medium businesses who want to get setup but they can't afford to hire a major company for the ridiculous amount of money they charge. I setup a few small networks, websites and one major network including server,database and POS terminals for a golf resort. I still pick up odd jobs here and there.

First thing I did was got my Tax ID for the state and filed my company name, then I built my invoice format for billing. I also kept detailed records for each of my clients. Anytime I had to purchase something for a job I had to make a purchase order using the clients initials and the date as the PO Number even if it was just a small thing like CD-R's for back-ups that way I knew what my expenditures were. I had a PDA that I synced with my business PC every day that way I could make up a purchase order right before I went into the store and when I got home it would sync into my main records. Keeping track of money in and money out is very important and having it all done makes tax time easier.

If I had decided to pursue making it my primary source of income I would have hired a lawyer and probably looked into becoming an LLC. That brings up another issue with your company "INSURANCE" you are moving around some high dollar stuff you don't want to have to pay out of pocket if you make a mistake do you? Hell I'm guessing some of the things you work with cost as much as a luxury car right? So look into getting insured. I don't know how it is in Alabama but also look into forming an LLP if you are going to consider your company a Partnership that way your company money and personal money will remain separate even if something happens such as your partner couldn't pay his house mortgage they can't touch the companies assets at least thats how I interpret LLC/LLP to mean....

 

[bio-chem]

both sound like great ideas. before you put in your two weeks have your finances in order. make sure you have a nest egg to support yourself on. get 3 months or more of living expenses as liquid cash in a savings account. that way you know you can devote all of your energies to this thing to get it started. good luck. the risk is high, but everyone i know who has built there own buisness wouldn't leave it

 

[maniclion]

A: My friend and I have a combined experience of 10 years, and we have never dropped anything. You guys may be perfect but say some uninsured asshole rams your van and destroys $200,000 in customer property, better safe than sorry.

B: We are both restoration experts. We fix other people's mistakes everyday. I am fixing a movers mistake today on my current project where they scratched the shit out of the top of a 120 year French farm table. There is no antique that I can't repair. What if repairing it doesn't account for it not being considered mint condition anymore, how will you make up for the loss in value?

C: Just in case, I was thinking about getting bonded, which means insured for damages. Don't think, do!


All good points that I didn't include in the first post.

Don't think. FEEL. It is like a finger pointing away to the moon. Do not concentrate on the finger or you will miss all that heavenly glory.

 

[KentDog]

So here is the company vision:
We are professional movers of fine antiques. We don't have our own truck, so we will have to rent a truck on days where we have work. This is good and bad. This means we have no overhead for days when we don't have work. This is bad for rental cost eating into our profits. Truck rentals in the pas usually end up cost us on average $200.00 but with gas prices going up, it might run higher. We can clear 1,500 for a 14 hour moving day - $300 truck fees+gas for good measure leaving us with $1,200 profit for a days work. It would only take 3 big jobs a month to stay a float and pay all of our montly needs, food, rent, gas, bills, ect.

We get tons of calls for small jobs like moving a few antiques around in their house. This would be where we apply an hourly rate, and woudl have no overhead on these days. We get these calls all of the time. Decorators want to play musical furniture with a clients house until they get the right look, but decorators can't afford full time movers so they call us. Decorators are making anywhere from $100-$150 an hour + 20% commission on everything they buy from the dealer. They have gladly paid us $200.00 for 2 hours work in the past.

Though I have no idea knowledge of the antiquities business, I would be careful not to overexpect business and underestimate costs. Is a 14 hour moving day typical, or optimistic? Are you accounting for weekdays or just weekends? I would sit down and make a list of variables that could affect your business and think back on each job you did recently and who referred you to that customer, how much it netted, what were the costs, etc..

When you say truck rental typically costs you $200/day, I assume this is including gas prices? What is it just for the rental? And isn't this cost variable (peak moving season, etc.)? I remember having to have to wait two weeks to get a truck for moving last summer, and I got two different prices from two different people. Also, what if you can't secure a truck when you want one?

My buddy's parents run a courier business and somehow managed to get his kids "free cars" due to being operating expenses for their business (they may have been a tax write off). I don't have much background in this type of thing, but I think getting your own truck may be better than renting.

 

[Skate67]

Kelju,

Im not a professional buisnessman (yet) by any means but i noticed you have nailed two important points with the first company idea.

1. Find a niche market.
2. Start small (i mean things like: low overhead, easy exit, etc)

Assuming the worst and your moving company doesnt take off, what are your liabilities? None, since you are planning on renting a truck. Since you guys both have jobs, id see if you can test the market by offering your services on the weekends or your days off. If it starts to grow, peace that shitty day job out. It really doesnt look like you have anything to lose man. You said you have the customer base and the knowhow, wtf you waiting for? Go for it .

 

[danzik17]

If you want to get into consulting, you need to focus on getting your CCNA and preferably a CCNP. I wouldn't stop there though, I would familiarize yourself with both Windows and Linux administration, especially Active Directory since that is extremely common among businesses of any size.

As a consultant, very few small companies want to hire "just" a network guy - they want a full solution.