So I want to start my own business...

Discussion in 'The BS Topic' started by RockerMomsHotwheels, May 6, 2014.

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  1. I have been dispatching for almost 20 years now and I'm just plain tired. Nights, weekends and holidays...Cussed at and threatened, gut wrenching calls and brass that couldn't give a rats a$$ about their staff. I'm ready for a change.
    I want to purchase the DB500 Dustless Blaster...Well, if I can get the loan for it as it's $37.500 Years ago, I worked as a sand blaster and mainly worked on bridges and on tanker cars...IF I can get the loan and IF I decide to go for it, I would still keep my job and work on getting blasting jobs. I work 2 on and 2 off with every other weekend off so I have days I can blast.
    Whats everyones thoughts on this? For me this is a ton of cash and it scares the crap out of me but man what a sweet setup...Oh and Audra said go for it...

    http://www.dustlessblasting.com/index.html
     
  2. Shizzle

    Shizzle Veteran Member

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    Aug 1, 2012
    oak lawn, illinois
    My cousin & I have been thinking of starting something. Some of his ideas sounded good on paper but there wasn't a market in real life.

    Do some research if there is a calling for it before hand. Or in the case of the bridges, can a new guy get in, are you going to be able to come up with the capital for the insurance requirements that companies require to do business with them.

    Otherwise, good for you & wish you the best.
     
  3. CDesperado

    CDesperado Veteran Member Lifetime Gold Member

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    Oct 1, 2004
    Dallas Texas
    Having done this a number of times.... One of the most common problems in starting a business is people don't anticipate the overhead and administrative time and costs. Tax laws are a nightmare.

    Do you have a customer base? How do you plan to market yourself? How will you cover insurance? Do you have a way to handle all the other start up costs? It seems to me it would take a long time to cover your initial costs, but that is pretty common in any new business.

    It can be very rewarding having your own business, but the grass isn't always as green as people thought it would be.
     
  4. LayZ

    LayZ Veteran Member

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    Jun 9, 1999
    NJ. US
    Do your market research to make sure you can actually make money. Really depend son what your goal is. Do you want to do this to replace your job or supplement it? if it's supplement, your fine the way teh setup is now. IF your looking to replace you have to at least figure what your making now plus what ever insurance is going to cost you. That give you a baseline of what kind of money you need to bring in to sustain your lifestlye. Then there is chase the money game. The invoicing, the calls if they don't pay etc.. I know with powder coating I can do teh junkyard dive and take crap into something someone would pay for. So that is always a way to make cash when jobs are not around. I'm telling you thou the more I listen to maverick 351 i'm rethinking the buying junk cars and selling the parts.
     
  5. gordonquixote

    gordonquixote Veteran Member Lifetime Gold Member

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    Jul 18, 2006
    Tallahassee, FL
    A realistic timeframe to build a big enough client base to self-sustain AND pay the bills could be 3-5 years....and if the machine is $35K...paying it off will almost be like having a fat truck payment/small mortgage hanging around your neck.

    Also, it may take years to make it profitable....are you prepared to do this long-term?

    Can you afford an accountant?

    Have you priced insurance?

    Worker's Comp?

    Unemployment Taxes?

    Business license?

    OSHA training?

    Is there a market for your product?
     
  6. Nitroexpress

    Nitroexpress Veteran Member

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    "Rochester" NY
    All of the above plus line yourself up with as many industrial clients as you can!
     
  7. Keizer

    Keizer BANNED

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    Jan 17, 2005
    Wa State
    People keep talking about the above items like it's an expensive nightmare. My business license is $100.00 for two years. Insurance for what I do is under $800.00/year. That's chicken feed. I'm self bonded so that part doesn't cost me anything.

    As far as an accountant goes, it costs on average around $60.00 to have my quarterly's done every three months. Then it's always under $300.00 to have my end of the year taxes prepared.

    I'm a small business so I don't have a bunch of employees to worry about, and I work out of my large shop on my property. My office is in my home. Very low overhead.
     
    Last edited: May 6, 2014
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  8. Maybe self employed would be a better way of putting it...I would do this alone, at least for now and would stay employed at the Sheriffs Office for the paycheck and insurance with plans on someday leaving that behind. Trust me, I make squat but it is a guaranteed paycheck. Audra does all the finances at a rather large church so she will do this for me.
    I know there are a bunch of things to consider and appreciate all the input so keep it coming...
     
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  9. gordonquixote

    gordonquixote Veteran Member Lifetime Gold Member

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    Jul 18, 2006
    Tallahassee, FL
    The costs I outlined definitely vary by trade but for example for my business (one owner, no employees):

    License: 300/yr
    General Liability Insurance: $4,254
    Health Insurance:$4,200
    Accounting: Free (Jamie is a CPA)
    Cell Phone: $1,416
    Continuing Education: $150
    Fuel:$2,800
    Truck: $0 (paid for)

    So...I have to CLEAR approximately $14,000 dollars before the first penny of profit is realized....EVERY YEAR.

    Your general liability would probably be less than $1000, if you have another job your healthcare costs may vary, but you'll still need a cell phone, internet, computer, advertising, fuel, vehicle, etc.

    Have you looked for used equipment instead of buying the $38,000 option?
     
  10. Toy71Camaro

    Toy71Camaro Veteran Member

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    Apr 28, 2007
    Central Valley, CA
    I'd suggest on starting out on the smaller scale...

    Can you get a lower end, used, smaller, etc blaster on the cheap to get your foot in the door and get started? get profitable, save up some cash, THEN make the big purchase.

    What's your plan if you dump 40g's into a blaster and don't have the work to pay for it? Gotta have an exit strategy too.
     
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