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Writing to get a little feed back.one man shows doing service calls and drain cleaning.Is it well worth it to go on your own,or work for a company. considering your company expenses versus your company benefits.I m still at crossroads .
 

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waterheaterzone.com
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Some people will do better working at a shop. Others will do better running a business. Running a business is totally different than working as an employee, and not everyone is cut out for it.
As an employee, you mainly just have to do your work and get paid. As a one-man-show business owner, you ALSO have to answer the phones all day, keep up with your book-keeping, create budgets and pricing formats, spend hours on marketing and advertising plans, worry about taxes, insurance, etc. etc. etc.
And on top of all that, many one-man-shops make the same money (or less) than if they worked for someone else. And many of them never make it at all.

Personally I love business and I would never want to go back to having a boss. Marketing ideas are super-important in running a service business. Without a solid marketing plan, you won't survive. I joke with my customers that doing the plumbing is the easy part, its effective marketing and proper pricing strategy that is the hard part of my job.;)
 

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I like to be the employee personally , But thats just me,

But like Serviceguy says, it all depends on how you feel.

Just as a side note:

I have seen guys leave a shop I was working for and invest 200k into a plumbing business and then loose it all.

My advice is make sure you as good as business as you are a plumber before you get started, also you'll need awesome credit as well....
 

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Discussion Starter · #4 ·
Thanks for the info guys,whats intriguing is working for a successful company,you see the money you can be making,so we all know if you get the clients and the company rolls,your making money.So I basically It s if you have the balls to open.
 

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Writing to get a little feed back.one man shows doing service calls and drain cleaning.Is it well worth it to go on your own,or work for a company. considering your company expenses versus your company benefits.I m still at crossroads .
If you desire is to be a one man shop doing service calls and drain cleaning, in my opinion it is not worth it. My reasoning:

1. Your compensation is limited to what you are able to do (for most this is less than what you would make working for a good company). Real money comes when you make money off of others.

2. Most one man shops don't have Workman's Comp. If you get hurt, you have no business and no income.

3. Start up costs, marketing, and complying with all reporting is expensive and takes time to recoup. And this is only if you are saavy enough to run a business. It is a big risk with no guarantee of a return.

Why do you want to go into business?

1. More money? If that is so, why are you worth more than what you are being paid? If you are really worth more and your boss doesn't see your value, take your skills down the road and sell them to a company willing to pay for them.

2. Don't like being told what to do by the boss? Definitely don't go into business for this reason. Now you may have one or two bosses. When you are on your own, every customer becomes your boss!

3. Freedom. Being a one man shop, you will need to respond to emergency calls. Without back-up, this means you virtually have no social life or you turn down a customer and lose that customer forever. Our first year, I remember just ordering at a restaurant and having the phone ring with an emergency call. Get the food to go and leave so my husband could take care of the call. We could have said no; however, when you don't know when the next call is coming in, you are hungry. So you respond to everything.

I'm not trying to discourage you, but there are a lot of skill sets needed to run a business. Top six things you need to run a business:

1. Capital
2. Marketing skills
3. Sales experience
4. Accounting experience
5. Customer service experience
6. Plumbing skills

Why did we go into business? My husband and I wanted to work together. Every company we have worked for, we rose to the top. It was never about a paycheck, it was the desire to succeed and be the best. We have always worked as if we owned the businesses we worked in. We took the problems home with us. Combined, we had all of the above skills and experience. It's been four years since we opened and I can tell you it has not been a cake walk. With our skills, both of us can work elsewhere for more money. But we are patient and we know one day we will make more than anyone would be willing to pay us. We are paying our dues and growing a business. The rewards will come.
 

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www.DunbarPlumbing.com
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I've spent a great deal of my life working for myself. Can't tell you how much I appreciate the personal freedoms of doing so.


You will work harder, longer hours more than you ever did working for someone else, but you get a mindset real quick that you're in it for yourself, no one else and that my friend is a personal choice that no employer can offer.


Plumbing has given me the opportunity to be adventurous with other endeavors. Rule of thumb is not to spend money when you're making good money, just realize that you're a squirrel saving for winter.

Remember that 90% of all businesses fail, usually takes 7 years to bed a solid business that's making money. It sure is nice though to see all those advertising dollars pay you back when the phone rings...it truly does.
 

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You will work harder, longer hours more than you ever did working for someone else, but you get a mindset real quick that you're in it for yourself, no one else and that my friend is a personal choice that no employer can offer.
That is the adrenaline rush that makes it all worthwhile. :yes:
 

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The American dream. Go for it (legit). Even if you decide it's not for you, you will have a greater appreciation for what it takes to run a successful (legit) operation.
 

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The thing I like about being an employee (right now anyways) is when you get off work and go home - you forget about all the BS and you focus on your time off. In fact I don't even know the names of the guys I work with as soon as I step in the van and start it up to go home. Some guys who run businesses may lay awake all night thinking about this or that. Too much stress for me right now anyways.

But - at some point you realize that you've learned enough, and it's starting to get repetitive, and you need something to do to make it interesting.
 

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The American dream. Go for it (legit). Even if you decide it's not for you, you will have a greater appreciation for what it takes to run a successful (legit) operation.
Be careful, the pursuit of the american dream can become a nightmare if you fail and are saddled with a lot of debt to pay off. Risk is not for everyone.
 

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My very worst day in business for myself is 10,000 times better than my best day working for someone else. But thats just me, I couldn't imagine working for someone else again. it is not all about the money, there is a lifestyle and a free feeling that makes it all worth while. It would be heart breaking for me if I ever had to go back.

I must note, it wasn't until the day I worked for myself that I truly appreciated my bosses through out the years. If self employment could ever accomplish anything, it most definately will make you a good employee.
 

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The thing I like about being an employee (right now anyways) is when you get off work and go home - you forget about all the BS and you focus on your time off. In fact I don't even know the names of the guys I work with as soon as I step in the van and start it up to go home. Some guys who run businesses may lay awake all night thinking about this or that. Too much stress for me right now anyways.

But - at some point you realize that you've learned enough, and it's starting to get repetitive, and you need something to do to make it interesting.
I agree with this a lot :) , I used to own a swimming pool service company and that drove me mad:cry:

Be careful, the pursuit of the american dream can become a nightmare if you fail and are saddled with a lot of debt to pay off. Risk is not for everyone.
Also true and what I was saying earlier, you take those loans, you better make cash :)

I also like the "One man shop" response above as well.

It's my opinion that you would need more then just yourself to make the bib bucks, but then again, what do I know :thumbup:


My very worst day in business for myself is 10,000 times better than my best day working for someone else. .
I can see that, there is nothing like waking up in the A.M. feeling crappy BUT still going to work and having someone tell you that you are "3 minutes late" and then harp on it for a week :)
 

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the area where i work is rural and i get a real high from running into people i have worked for. doing quality work and being able to hold my head up and talk to these people out in public is why i enjoy self employment. i would do plumbing for free if i didn't need the money
 

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the area where i work is rural and i get a real high from running into people i have worked for. doing quality work and being able to hold my head up and talk to these people out in public is why i enjoy self employment. i would do plumbing for free if i didn't need the money
Plumbing for free sucks..... Hate it when family calls:cry:
 

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i started my own business in 03. best decision i ever made. what finally pushed me there was when the last employer i'll ever have scolded me for hauling off the cast iron stack and debris i generated on a job. he told me i should have left it in the front yard. and as nit picky as he claimed to be turned out he was just a nit-wit. i saw a better way. where the customer service comes first. and my customers appreciate it, even write thanks on the check. my first year i showed a 3,000.00$ loss. but every year after that i showed at least a 60% gross profit on yearly reciepts avereging 280,000.00$. but service work alone may not get you there. the bid projects are where its at. as a one man show its tough but can be done. the big payday takes some time but the hard work does pay off if you can handle the whole thing. the work, the taxes, the billing, the book keeping. thats the key you have to do it everyday. do not get lazy w/ the paperwork.
 

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Plumber, Totally
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i started my own business in 03. best decision i ever made. what finally pushed me there was when the last employer i'll ever have scolded me for hauling off the cast iron stack and debris i generated on a job. he told me i should have left it in the front yard. and as nit picky as he claimed to be turned out he was just a nit-wit. i saw a better way. where the customer service comes first. and my customers appreciate it, even write thanks on the check. my first year i showed a 3,000.00$ loss. but every year after that i showed at least a 60% gross profit on yearly reciepts avereging 280,000.00$. but service work alone may not get you there. the bid projects are where its at. as a one man show its tough but can be done. the big payday takes some time but the hard work does pay off if you can handle the whole thing. the work, the taxes, the billing, the book keeping. thats the key you have to do it everyday. do not get lazy w/ the paperwork.
60% gross profit on $280,000? What was your net?
 

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168,000 ?

what about expenses, like insurance fuel and payroll, office supplies, uniforms, truck repairs, materials etc.. etc..

those arent profit
 
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