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Unread 2017-04-21, 12:08 PM   #1
BUZZZN
 
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Default Going out on my own

So last October I turned out as a journeyman electrician and have been making decent money. Unfortunately, the job I've been on requires 3 hours of commuting/day and came across a great business opportunity while up there.

We're wiring a 25k sq.ft house that requires a metric shit ton of control work (24v for boilers, chiller, fan coil units, valves etc.) Usually electricians don't do or look highly upon low voltage work. And company in town, ATS, usually does all the control work in the surrounding areas but recently quit installing and just oversees and provides tech help. That got me wondering who was left in the area to install their control equipment. Turns out not near enough.I talked to the rep for that job about what's involved with being a subcontractor for them, the amount of work they have, cost of startup.
- They provide all of the devices such as relays, transformers, control boxes, blue prints, and start up of system.
- My job is to provide labor, wire, conduit with fittings, and all related materials for installing wire.
- I've already have the experience and right now being paid to learn the low voltage side. There is a bit of a learning curve.
- ATS' rep also mentioned that they are absolutely buried with work and could put me to work immediately.

I'm just seeking out some advice on pros/cons to LLC vs. Sole proprietorship especially tax wise. I'll be using a local tax prep place to handle book keeping and payroll. I'd prefer at this point not hiring employees but other subs to help.
I have a buddy that I work with, partnership? Yay or nay?

I know it's a broad topic but I think I found a decent niche and don't want to fail before I've started. Thanks.

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Unread 2017-04-21, 12:15 PM   #2
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LLC they can't go after personal possessions.
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Unread 2017-04-21, 05:23 PM   #3
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Quote:
Originally Posted by mild83 View Post
LLC they can't go after personal possessions.
But the government can.
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Unread 2017-04-21, 06:31 PM   #4
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No partnership.
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Unread 2017-04-21, 09:35 PM   #5
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^^^ Agreed.
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Unread 2017-04-26, 12:02 PM   #6
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If you are looking for some easy side work, let me know. I think I'd like to add a few outlets, and possibly some lighting in the unfinished part of my basement.
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