[Wickedgood!]

I've been reading alot of the other threads on here and I quickly realized that, yes, I am another one of those guys looking to start a painting biz... Wait, please don't hang up!!

I have been painting on the side for about 3 years now.. I'm looking to go out on my own but here is my delema.. I'm a fulltime firefighter, I have 4 to 5 days off per week on a constant rotation.. Obviously I'm not looking to become a big conglom and have a crew. The guy that I work with is also a firefighter and he does his own thing, no license/insurance or anything just rides the word of mouth wave. Not saying that anything is wrong with that but for me I'd want to do it "right". I've been doing ALOT of research before jumping into this. I'm thinking LLC or LLP..

I'm asking this with all do respect to you guys! I know the painting field seems to be the one that gets the the people saying, "Paint?! Sure, that's easy I can do that!! I'll just go grab a brush and start a business!" I'm not one of those guys.. I enjoy painting and the independence of getting out there on my own to do it.. Just trying to find out if there is different angle being that it is going to be on the side of my fulltime job..

Much thanks!! :help:

 

[Rich]

LLC if you own a home and want to keep it if you get sued...ok that's #1

I don't know man...license/insurance for a part-time gig? I recently went from full-time to part-time and my license and insurance went bye bye, but I'm REEEEALLY part-time (like a weekend a month), lol

I guess it's different for you, you don't have a client base like I do, so you will be walking in the door for the first time, but...I'm gonna wait to hear what others say on this one, I'm almost thinking why the hassle and overhead for PT...you really would need to do well to make it worth the cost

 

[painttofish]

How much is a license where you live? Are you sure you need one? As for insurance I would recommend getting general liability up to 500k. This is easy and relatively cheap. I think mine is $600 annually. Good luck!:thumbsup:

 

[Joewho]

what state are you in? That makes a big difference.

For instance, in IL, there is minimal cost to be a contractor and there is no license for a painting business. Being by yourself, insurance would not be a big investment either. On the other hand, in NV, where I am currently, there is a lot of investment and education to be a licensed contractor. So, depending where you live, it may not be that difficult.

How long have you been a firefighter? I know a few of them. One was a firefighter for quite a while. One day he just decided to take all the knowledge you guys have, and started a residential construction company and did very well. Seems that being a firefighter just got the trust from customers right away.

 

[vermontpainter]

I've been reading alot of the other threads on here and I quickly realized that, yes, I am another one of those guys looking to start a painting biz... Wait, please don't hang up!!

I have been painting on the side for about 3 years now.. I'm looking to go out on my own but here is my delema.. I'm a fulltime firefighter, I have 4 to 5 days off per week on a constant rotation.. Obviously I'm not looking to become a big conglom and have a crew. The guy that I work with is also a firefighter and he does his own thing, no license/insurance or anything just rides the word of mouth wave. Not saying that anything is wrong with that but for me I'd want to do it "right". I've been doing ALOT of research before jumping into this. I'm thinking LLC or LLP..

I'm asking this with all do respect to you guys! I know the painting field seems to be the one that gets the the people saying, "Paint?! Sure, that's easy I can do that!! I'll just go grab a brush and start a business!" I'm not one of those guys.. I enjoy painting and the independence of getting out there on my own to do it.. Just trying to find out if there is different angle being that it is going to be on the side of my fulltime job..

Much thanks!! :help:

Read the e-myth by Michael Gerber.

 

[slickshift]

Read the E-Myth Contractor by Michael Gerber

 

[Nathan]

Read the E-Myth Contractor by Michael Gerber

How different is that than the regular E-Myth book?

 

[ProWallGuy]

Read the E-Myth Contractor by Michael Gerber

How different is that than the regular E-Myth book?

Its the same exact principal, but explains it differently. Instead of selling 'widgets', you are contracting services.

 

[slickshift]

It's a little more contractor specific...and a shorter read
I'd suggest it first for contractor/service types

Then if you want more, move on to E-Myth Revisited which gets more into the meat and/or details of it, but relates the concepts to many other fields

E-M Contractor spells out the concept quickly and is easy to relate to a painting (or other contracting) business
E-M Revisited is more general, and a contractor may not easily apply the concepts to a contracting type business

 

[Nathan]

I'll have to read the E-Myth Contractor. I loved the E-Myth Revisited and when I saw the E-Myth Contractor I just figured it was the cliff notes version.

 

[Brian]

I preferred The E-Myth Revisited over the contractor version. Maybe the contractor version was just a rehashing for me-- I read it several years later.

Brian Phillips

 

[Kelly Painting]

New guy... New Question... trust me...we have answered almost every question...even about kiddie pools..lol.

 

[Wickedgood!]

Thanks for all the help!

Rich, that's why I was thinking LLC or someting.. We have a home as well as some investment propertey and I want that to be protected. I see alot of ads in the paper for small paint biz that say "fully licensed and insured" I don't think that it is manditory that painters are licensed in RI but, I just want to play it safe. Do you think that people look for that when the are picking a painter to call to do work? I want to start doing the flyer on mailbox thing soon. Maybe I'll start out with the liability insurace thing and then get things moving..

I will check out the E myth! Thanks! I've seen it mentioned on a few other threads..

Joe, been on the job for 3 years.. Yah, most of us are in the construction biz in one form or another..

You'll be hearing from me alot guys! I have alot more Q's!! Thanks again!

 

[Rich]

I don't think that it is manditory that painters are licensed in RI but, I just want to play it safe. Do you think that people look for that when the are picking a painter to call to do work?

Yes it is manditory that you are "licensed" (which means being registered as a contractor) and....

absolutely people look for licensed contractors if they know what's good for them...you'd be suprised how many do check and look

it is "cheap" to be insured and get your "license", but just remember it is an expense and as long as you have it, even if work is slow, it needs to get paid

..and FYI, I was licensed and insured in CT and RI for 2 years

 

[Wickedgood!]

Thanks Rich! Where/who do I contact to get a license? About how much are we talking here?

 

[Rich]

http://www.crb.ri.gov/down_load.htm

I think RI is a flat fee for the licensing...like $200

and insurance is actually pretty cheap...I had a million dollar policy for about $650/year, but there are variables that can make that even cheaper (ex. if you use a sprayer, insurance will be more, etc. etc.)

anything else, don't be hesitant to ask...we are all here to help