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  • Black Wolf
    replied
    Motorcyclemac.....Very informative & well said post. I'm impressed.

    Migman69, I would re-read Mac's post and take heed to the advice given.
    We are all here to help each other succeed... None of us wants to see another's dreams fall apart, and his/her business fail. More research & experience is required.

    Best of luck,
    Jason

    Leave a comment:


  • tacmig
    replied
    My 2 pennies....

    For what it's worth, here's some modern calculations in accordance with modern accounting.

    Assuming you have no customers or immediate cash flow you must develop an inventory of liabilities. This includes all direct and indirect cash purchases. Short term, long term and maintenance costs i.e. rents, leases, insurance utilities etc.. Learn what the annual cost of your liability is and that's how much money you need in CASH in you HAND just to start!

    About 27 years ago I side lined on the weekends and at night. This grew over time and as a result I acquired new equipment and even hired help. The key here is and please heed this info! Always do the best job you can even if you lose money and if you feel you can't to the best job, get someone that can and become friends with that person (networking). My business eventually evolved into a 7 man 3,500 Sq. Ft. shop with about 150K in equipment. This did not happen in one week, one month or even a year. Oddly, I specialize primarily in railings, gates and medical grab rails and that keeps my shop busy everyday with just that. Find your nitch, get good at it and people (your customers) will notice you, hire you and refer you.

    If welding and fab is your passion, take your time, do it right with no regrets!

    A little more than 2 cents, but it's just time

    Leave a comment:


  • motorcyclemac
    replied
    [QUOTE=migman69;20536] I have a great idea in my head, I hope i can eventually turn it into reality. Id love to own my own business one day or at least half of one. But my dad doesn't seem to think The business will last more than a month. He said that with the way the economy is right now going into business for yourself is a recipe for disaster.


    Migman...

    Your Dad may be right..or just cautious.. If he has been in business for 30 yrs he may know a thing or three about running the show. I know you are charged up and wanna go like a fart in a tornado. But you have to take it easy big fella. I own my own business. I have a machine / fabrication shop that I started a while ago. Understand that I didn't just get a bug up my keester to pull the trigger on a new business. There was about 5+ yrs of planning and decisions before I made any moves. Understand that starting a business can be very rewarding. But also realize that unlike being an employee...all the rewards AND the PROBLEMS are YOURS. As an employee you work 8-12hrs a day and punch out..go home. As a business owner you work....till your done. That might be 18+hrs a day for a week or years. Never know. You HAVE to be a darn good and dedicated employee BEFORE you are a business owner.

    Here are some steps to think about before you risk poor decisions and subsequent bankrupt.

    Find your niche... Yes you may want a welding shop. But what will you weld? Where are your customers coming from? Why do they want YOU to do it?

    How big of a shop do you NEED? (We all want a shop as big as an aircraft hangar but can't justify it) Your work will dictate how much space you need. This is one reason you need answers to the above questions.

    What equipment will you need? A guy could go drop some serious coin on the biggest and best stuff. But understand that during your startup time you might could do with "just big enough" to get the job done. Do you need a Tig machine that can do 1/2 inch Aluminum? Hmm Dunno. But I wouldn't drop the kind of money it takes on that....unless I am sure I have jobs to make it pay. The excess money can be used for other needed equipment.

    Yes you want a welding shop...but realize that a building with a welder doesn't make a welding shop. There will be LOTS of other machinery needed to be a 'job' shop.

    How about power? How many AMPS do you NEED. Power services are expensive to modify. Electrical contractors make some serious coin. The modifications to my shop electrical ran well over $3000 bucks. I already had 240V 3ph in the shop but I needed plugs and sub panels etc installed. A new shop service could be in 5 digits for a 500A 3phase service.

    I am not trying to discourage you. Rather I want to encourage you ...to do it right. You MUST plan. You must Ask ALL the questions. You MUST have a business plan (written)...not in your head. You must have all the financial work done BEFORE you talk to the bank. You must be PROFESSIONALLY READY. You skills will be challenged to the max by some customer paying top dollar for your BEST work. Better be ready to perform...like...well a PRO.

    Your Dad MAY be trying to save you from a lot of hurt. If your area is depressed it might not support another welding shop. YOU must check this out. Be honest with yourself. IF you start a shop and dump ALL your money and a couple hundred thousand from the bank ...and it crashes it can destroy your life at a tender age. Again...not telling you no....just understand that following your dreams can be wonderful. Following them blindly over a cliff is just stupid. Be careful. Talk to the business department of YOUR bank and tell them your dreams. They WILL tell you want pieces you need to prove to them it is a viable business plan. They know what will fail and what can make you money.

    For now.. Learn every thing you can about your chosen trade. Do your best to become the best. You will have to prove your the best to every customer later. Suck that school for every thing they know. Your paying for it...demand the best education they can give.

    Follow your dreams...just pick your battles wisely. A business is a big step. I love mine..and do what I have to keep it healthy. A young business is like raising kids. Things you do early in the formative years can pay off later.

    Take care....
    Mac.

    Leave a comment:


  • lars66
    replied
    I think if I were you I would listen to what DAD has told you. You need to get your feet wet around the welding trade for a while be fore diving in head first.

    Leave a comment:


  • migman69
    replied
    ok

    well we will be doing fab from new metal and repair of rusted junk if needed. I have a great idea in my head, I hope i can eventually turn it into reality. Id love to own my own business one day or at least half of one. But my dad doesn't seem to think The business will last more than a month. I don't think he knows much about the industry. But he has owned his own business for 30 some years and is now retired. He said that with the way the economy is right now going into business for yourself is a recipe for disaster. I don't really think so because stuff needs to be welded no matter what. Any ideas on how to get up and running and any trade secrets to be succesful, any help is much appreciated.

    Leave a comment:


  • Guest's Avatar
    Guest replied
    Sorry, but the way you asked the question raised a flag. If your partner has all the experience let him make the equipment decision and learn from him . It sounded kinda like me going into the racecar business fulltime and asking the forum "how do I weld Chrome-moly? You know? Dave
    Originally posted by migman69 View Post
    i start welding school this spring

    Leave a comment:


  • Jim-TX
    replied
    migman69, I think you will be able to answer your own questions about what you need after you have been in school for a while. I know what you were trying to say in your original question. You need a good general purpose welder that can handle some fairly heavy stuff if needed. Is the shop going to do fab work with all new material or take in old rusty crud to patch? See, that's why it's hard to say you need "Welder model XYZ". Hang around this and some of the other welding forums (Miller has another one.... link is at the top of the page) and soak up some good info. Don't hesitate to ask questions. We all started somewhere and asking questions can sometimes save you a mistake or two along the way. BTW, welcome to the forum.

    Leave a comment:


  • Placek05
    replied
    Welding Shop

    Migman, don't be discouraged, I have had many questions in the past and a few in the present that show my ignorance to welding. I work in a aircraft overhaul shop with guys that weld everything from Magnesium, aluminum to stainless steel.

    Believe me, this place is the right one for the questions. There are a lot of people out there willing to help, you were right, it doesn't hurt to ask.

    Enjoy the new class. When I was in school, I took a small Ag welding class because I wanted to learn to weld, not the Industrial Tech route that was more directed to casting then welding.

    Leave a comment:


  • migman69
    replied
    so thats my story

    i start welding school this spring

    Leave a comment:


  • migman69
    replied
    ok settling the score

    Ok Im not a welder ok I will be attending school for welding shortly and workng towards my aws certification as well as my state and local certs. I will be opening up a welding and fab shop with a guy that has been in this arena for 10 years. Im trying to gain knowledge thats why i asked questions. But i know more than likely i may have to weld something thicker than 1 inch, dont criticise me for being ignorant. If you dont know something the only way to find out is to ask right.

    Leave a comment:


  • tacmig
    replied
    Ehhhh.

    Ehhhhh, Errrrrrrrr, Ahhhhhhhh.You say you weld a lot of 1". What have you been using for that? Perhaps that's what you need

    TacMig

    Leave a comment:


  • willy
    replied
    Easy..Easy everyone

    He asked a legit question. He may not know it all, thats why he asked. Thats what this site is all about. Heck - if I knew it all I probably wouldnt be posting this, instead I would be telling everyone how smart I am....

    Never knew anyone that was a master of their trade the first day on the job....

    Leave a comment:


  • joebass
    replied
    Maybe, maybe not. This guys got no business starting a welding business if he has to ask questions like that.

    Leave a comment:


  • shorerider16
    replied
    Originally posted by joebass View Post
    Go get a Clarke 110 volt welder from Tractor supply, weld all the 1" plate you want with it. For a saw just use a hack saw. This should get you started in your business. Be sure to plug in the welder with 100' of 16 gage cord, You'll get plenty of penetration.
    Although you may be trying to be humerous, I wouldn't say that it is coming across that way. (Try smilies next time ) Regardless, Migman asked a question, and it was answered by others with a little bit of positive reinforcment. There is a right time and a right place for sarcasm and I don't think this is one of them.

    Just how I saw it.

    Leave a comment:


  • joebass
    replied
    Go get a Clarke 110 volt welder from Tractor supply, weld all the 1" plate you want with it. For a saw just use a hack saw. This should get you started in your business. Be sure to plug in the welder with 100' of 16 gage cord, You'll get plenty of penetration.

    Leave a comment:

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