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self-employed: profile ↓

self-employed


created: Jun 11, 2008

golo url: selfemployed.golo.com

members: 53

group owner: Rocknhorse | Contact

membership: open

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Welcome!  This is a place to discuss the pros and cons of starting your own company.  As any small business owner will tell you, starting your own company involves blood, sweat and tears.  But at the end of the day, it's worth every effort.


about self-employed

Welcome! 

Ten years ago, my husband decided that he wanted to start his own company.  He'd been working for the same company for over 7 years as manager and he enjoyed what he was doing.  But he had a yearning to branch out on his own. 

As an outdoor-type of person, and one who loves physical work, he wanted to create a company that would allow him to work outside, push him physically and support his family. 

He began pressure washing and his niche was cleaning exhaust hoods in restaurants.  He had a modest list of clients in the beginning and things were OK.  The salesman/marketing major in my husband was not satisfied with OK.  He wanted to grow the company.  He had bigger dreams and a vision.  He didn't want to make just enough to survive each month.  He wanted to become the pre-eminent pressure washing company in the area. 

We expanded the idea of pressure washing hoods into a full service company to service the restaurant industry.  We installed and maintained hoods, offered 24 hr emergency service.  We worked with a chemist to develop our own line of degreaser and stainless steel polish, which we not only used in our cleaning, but was packaged and sold to our clients.  We networked with other service providers that benefited the restaurant industry.  We basically became a 1-stop call for any restaurant service needs.   Hatcher Services, Inc. was born.

The restaurant world is a close-knit group.  Word got around and the phone began ringing.  By the time we sold the company, we were a 6 person (2 full time crews and us) company servicing restaurants in 4 states. 

Our family was growing and the schedule was intense.  The work was at night when restaurants were closed, but the customer relations was during the day.  We were not getting little sleep, we were missing quality time w/the kids.  Another niche was beginning to take shape.  Exterior cleaning, with a focus and specialty in stone restoration. 

After some consideration, we decided to sell the restaurant services side of the company and focus on the restoration cleaning side.  Triangle Professional Services was created to provide a high standard of service for a reasonable price.  

We now sub from several clients ranging from individual home owners to large, commercial contractor.  We specialize in large-scale cleaning with a focus in restoring stained or damaged stone/surfaces.  His personal motto is, "cleaning the weird and unusual and the higher the better."  We were pleased to learn that one particular job (a historic house in Wilmington, NC) won a National Historic Preservation Award. 

Again, the college grad in him pushed for more than average.  He continuously educates himself about various stones, substrates and chemicals.  He attends safety classes, and requires it of his employees, so that all are certified for safety.  He again has turned basic cleaning into a science. 

With customer service as his #1 goal, his reputation again precedes him.  Whether it is one of his regular residential accounts or the largest contractor, he gives everyone 150%.  He prides himself on his honesty and integrity.  He firmly believes that the only thing you have in this world that is YOURS and cannot be taken away is your integrity.  He makes sure his remains unquestioned. 

Welcome to my group for small business.  I hope to engage in discussions that we all face and brainstorm ideas to help our individual industries. 





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StraightNifonged


Insurance? Taxes? (posted Jun 12, 2008)
Myths about Owning a Business (posted Jun 11, 2008)
Turning Dream into Reality (posted Jun 11, 2008)


baseballrocknhorse created a group blog post.
insurance? taxes?
Jun 12, 2008

baseballrocknhorse created a group blog post.
myths about owning a business
Jun 11, 2008

baseballrocknhorse created a group blog post.
turning dream into reality
Jun 11, 2008

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Thanks for the invite Rock!!

We've been self-employed for 10 years. We certainly don't have all the answers, but we might be able to offer some suggestions for anyone thinking about going into business. Of course, we may have just as many questions for others who've taken that plunge!

I hope to get a good dialogue started.

Glad to be here....I'll try my best, I own or co-own, & manage 3 LLC's & every day is an adventure. Help...haha!

OK, so I have my first question for you Halyard. Can you make a recommendation re: incorporating vs. LLC? We are currently sole prop. and know that we need to change that. What are the advantages to being a Limited Liabilty Corp?

Yes, every day IS an adventure when you are self-employed. It's like riding a roller coaster. Sometimes you go up. Sometimes you go down, and sometimes you get so twisted and turned that it makes you want to be sick. But at the end of the ride, you can't help but smile and say, let's do it again!

I'm not self-employed....I guess I'll take my toys and go home *sniff* :-D

I didn't want to be rude and decline the invite....LOL

Greyhound, don't go! You may have some insight from a customer perspective! Ours is a service company and it's always good to know what customers want that will set us apart from others! Feel free to contribute with any thoughts, ideas or suggestions!

We just entered our 13th year. Hasn't always been easy, still isn't easy on many days.

Rock, for us, we started out as an LLC, we moved over to an s-corp 7 years ago. The jury is still out which we prefer. LLC was EASY as far as operations went. You have much more flexibility in the splits in an LLC. With the s corp there is a lot more record keeping it seems, and there is no flexibility in how the profits are distributed (it is all based on shareholder percentage). With the LLC, you have the self employment tax to deal with, but depending on how good your accountant is, you can make the LLC beneficial to you. With the s corp your distributions aren't subject to the self employment tax. I probably still lean towards the LLC, but our Accountant recommended the change based on our business structure, so I would talk to your Acct and see what he/she recommends. Whatever you do, I would move to one or the other and move away from the sole prop.

Thanks misschris. We definitely want to do one or the other. When we first started out, we were an s-corp. That business grew too fast for us to keep up and we eventually sold it. We didn't like the inflexibility of the distributions and yes, the paperwork seemed a bit overkill for what we really were - 2 to 4 employees. We had to create a board and all. We just weren't that type of company. When we sold and evolved over to the historic restoration, large scale commercial cleaning, it was just my husband and a helper. Very easy to monitor. It's grown and now there is an independent crew out there, so we want more structure.

Thought about putting the business in MY name and then making husband an employee so he could have worker's comp. But then we just signed on w/PennLife for disability for him. So that's mute.

Rockn, you may want to try the LLC, there is more flexibility. Again, talk to your accountant, but I would seriously consider putting the business in your name. I'm not sure the nature of your business, but a woman owned business can get various benefits and win bids based on being a minority owned business. I don't think you can go wrong :) Wishing you the best of luck!!

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