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So I have a big decision to make soon. I have been offered to work for a painter that I know and respect personally and professionally. His business is rapidly expanding and he has tons of work for me.We have discussed different ways for this to look, but the most attractive to me is to work as a full-time W2 employee.
I have been painting about 7 years total and the past 2 years with my own company (primarily solo)...around 70,000 revenue on average in my two years. So I have a variety of customers, a mix of friends/acquaintences (perhaps 30 percent) and other customers that I have aquired along the way...realtors/remodelers/customers referred by customers/other painters, etc. So a hodge-podge.
I'm wondering what this trasition looks like, what to consider in the process. Basically, the painter that I'll be working for mentioned that I could still work for these customers and that it would be under the banner of his company. He's open to perhaps "purchasing" these contacts/connections I believe. My invoices and estimates have been through Quickbooks. And I contact through email/phone as well.
Side note: I brought up the discussion of "side work" in an open-ended way, as I feel that is important to clarify. My general thought and the vibe I get from him is that that's not cool. I've seen it too much from others....people working weekends on their own side work consistently and being burned out and their performance suffering because of it.
Overall, I am feeling good about moving forward with working W-2 for him. And in spite of some emotional attachment to my customer base, I'm open to transitioning (perhaps with them) under the banner of this new company. And I'm looking for feedback on how best to do this and what to consider.
Hmm...and in this situation, are there any actions you would suggest taking to dissolve my company or how/what to hold on to?
I have been painting about 7 years total and the past 2 years with my own company (primarily solo)...around 70,000 revenue on average in my two years. So I have a variety of customers, a mix of friends/acquaintences (perhaps 30 percent) and other customers that I have aquired along the way...realtors/remodelers/customers referred by customers/other painters, etc. So a hodge-podge.
I'm wondering what this trasition looks like, what to consider in the process. Basically, the painter that I'll be working for mentioned that I could still work for these customers and that it would be under the banner of his company. He's open to perhaps "purchasing" these contacts/connections I believe. My invoices and estimates have been through Quickbooks. And I contact through email/phone as well.
Side note: I brought up the discussion of "side work" in an open-ended way, as I feel that is important to clarify. My general thought and the vibe I get from him is that that's not cool. I've seen it too much from others....people working weekends on their own side work consistently and being burned out and their performance suffering because of it.
Overall, I am feeling good about moving forward with working W-2 for him. And in spite of some emotional attachment to my customer base, I'm open to transitioning (perhaps with them) under the banner of this new company. And I'm looking for feedback on how best to do this and what to consider.
Hmm...and in this situation, are there any actions you would suggest taking to dissolve my company or how/what to hold on to?