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  • Getting it right

    Alright guys, I am outta the game, kinda. I am going to see a couple of "plumbers" tomorrow. One of them owes the supply house close to $30K and seems to have no intentions of paying them back so I'm sure he will be glad for the offer. I am going to approach a couple of them about a business deal and I needed some input from some of the other business owners on the board and to the legality of the deal. Here's what I was thinking. I use my own truck, my own gas, my own material. I don't want any BS health insurance, etc. I understand he will be responsible for worker's compensation, taxes, and liability insurance on any work I do. I will even use my own customers as to not take anything away from his business. All of my customers will be invoiced under his business name and I will give him the checks at the end of the week, for which he will write me a return check for a percentage. We are not talking huge sums of money but around $3000 a week combined profit from this venture. My question is, "Is this something any of would even consider if approached with, and if so, what is a fair percentage?" Is giving him 25% too much? too little?
    Last edited by Devine Plumbing; 06-21-2008, 10:37 PM.
    Distractions are everywhere, don't lose sight of your dream.

  • #2
    Re: Getting it right

    Are you in a position to help bail him out with the supplier financially?

    If so you open up a lot of different approaches.

    Comment


    • #3
      Re: Getting it right

      Originally posted by Killertoiletspider View Post
      Are you in a position to help bail him out with the supplier financially?

      If so you open up a lot of different approaches.
      Unfortunately no.
      Distractions are everywhere, don't lose sight of your dream.

      Comment


      • #4
        Re: Getting it right

        Originally posted by Devine Plumbing View Post
        Unfortunately no.
        Then stay away from the guy that is about to go bankrupt, you don't want that headache.

        Comment


        • #5
          Re: Getting it right

          You already know the anwser. This might help you, 2 Corinthians 6:14
          Anyone can tear a man down, few can build one up.

          Comment


          • #6
            Re: Getting it right

            Do not be unequally yoked with unbelievers. For what partnership has righteousness with lawlessness? Or what fellowship has light with darkness? 2 Cor 6:14

            I'm not quite getting the correlation, but a little bit. However, if it is lawful, then it has the opportunity to be righteous.
            Distractions are everywhere, don't lose sight of your dream.

            Comment


            • #7
              Re: Getting it right

              Originally posted by Devine Plumbing View Post
              Alright guys, I am outta the game, kinda. I am going to see a couple of "plumbers" tomorrow. One of them owes the supply house close to $30K and seems to have no intentions of paying them back so I'm sure he will be glad for the offer. I am going to approach a couple of them about a business deal and I needed some input from some of the other business owners on the board and to the legality of the deal. Here's what I was thinking. I use my own truck, my own gas, my own material. I don't want any BS health insurance, etc. I understand he will be responsible for worker's compensation, taxes, and liability insurance on any work I do. I will even use my own customers as to not take anything away from his business. All of my customers will be invoiced under his business name and I will give him the checks at the end of the week, for which he will write me a return check for a percentage. We are not talking huge sums of money but around $3000 a week combined profit from this venture. My question is, "Is this something any of would even consider if approached with, and if so, what is a fair percentage?" Is giving him 25% too much? too little?
              Sadly this guy would likely put you in the same position he is in real quick. I still believe the better alternative is to hire a Master Plumber and keep your business. He could qualify your license plus you could pick up hours under him. All of the info you need is available online.

              As a matter of fact if you really think you are as qualified as you have posted here you go petition your Board to appear before a quorum to argue why you should be granted a Masters license of your own. Of course once you do that you are out in the open and you may want an Attorney who specializes in these things to help represent you in front of the Board.

              Mark
              "Somewhere a Village is Missing Twelve Idiots!" - Casey Anthony

              I never lost a cent on the jobs I didn't get!

              Comment


              • #8
                Re: Getting it right

                Youre looking for some kind of sub-contract or employee set up with a plumber who is in financial trouble?

                If he won’t pay the supplier what makes you think he’d pay you?

                If you put a similar amount of effort into your own business as you are considering putting into this deal surely you would be much better off in the long run.

                Just my opinion.

                Comment


                • #9
                  Re: Getting it right

                  Originally posted by ToUtahNow View Post
                  Sadly this guy would likely put you in the same position he is in real quick. I still believe the better alternative is to hire a Master Plumber and keep your business. He could qualify your license plus you could pick up hours under him. All of the info you need is available online.

                  As a matter of fact if you really think you are as qualified as you have posted here you go petition your Board to appear before a quorum to argue why you should be granted a Masters license of your own. Of course once you do that you are out in the open and you may want an Attorney who specializes in these things to help represent you in front of the Board.

                  Mark
                  HAHAHAHA, I would need a battery of attorneys. I would need OJ's legal counsel.
                  Distractions are everywhere, don't lose sight of your dream.

                  Comment


                  • #10
                    Re: Getting it right

                    Your buisness, your decision.

                    You want to go into buisness with a man that has shown no financial resposibility or integrity? Some would call not paying back 30,000 theft.

                    I don't get it.
                    Anyone can tear a man down, few can build one up.

                    Comment


                    • #11
                      Re: Getting it right

                      Originally posted by Tyman View Post
                      Your buisness, your decision.

                      You want to go into buisness with a man that has shown no financial resposibility or integrity? Some would call not paying back 30,000 theft.

                      I don't get it.
                      He is working on it, just not very fast. A good plumber, poor business man. It is amazing how much information comes out at the supply house and how much you can find out.
                      Distractions are everywhere, don't lose sight of your dream.

                      Comment


                      • #12
                        Re: Getting it right

                        If a guy walked in and asked me to do that, I'd laugh as I showed him back out.
                        For starters, liability...some strange guy has no claim on liability when his soldered joints leak 3 months later, when his toilets stains the ceiling below 6 months later, when the overheated copper adapter at the dielectric nipple on the water heater finally corrodes and leaks 8 months later...my name would be what they found in the checkbook, not yours.

                        Beyond that, you can visit my states licensing board and view the monthly list of poor fools who've lost their livelyhoods for trying to skip around licensing and legal employment requirements.

                        You keep looking at ways around it, all your doing is prolonging the inevitable...you have to do your time, do your school...just like we all did.

                        You have no idea how many things you currently do in the course of your work that your doing wrong, sure you've picked up alot of knowledge over time, but there are a vast number of things you might be doing that could cause injury, property damage or even death.

                        Comment


                        • #13
                          Re: Getting it right

                          What is the starting wage in your state?
                          Distractions are everywhere, don't lose sight of your dream.

                          Comment


                          • #14
                            Re: Getting it right

                            Originally posted by Devine Plumbing View Post
                            What is the starting wage in your state?

                            Here you could easily earn 25/hr minimum if you are a halfway decent serviceman

                            Comment


                            • #15
                              Re: Getting it right

                              Thanks for the move to the appropriate section.
                              Distractions are everywhere, don't lose sight of your dream.

                              Comment

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