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AL's next business adventure


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#1 AspenLeif

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Posted 15 December 2017 - 02:52 PM

When I moved here, it was always in the back of my mind that my brother and I would start our of general contracting business.  After I got a chance to dig into the scene here, I got a handle on a couple things.  Sub contractors can make some serious cash here, and not have to deal with asshole billionaire attitudes.  

 

There are only 3 fire suppression (think sprinkler systems) in like 150 miles.  They have guys coming from Denver (3.5hrs away) and pay them per diem and union rates because those 3 companies can't handle the load here.  I've been meeting with the state since the early spring.  The barrier of entry is tough, because of the registrations and certifications to get into the business.  I wrote the business plan over the summer and finished it up about 3 weeks ago.  My brother and I were in the final throws of getting this business set up and registered.  The one issue we've been having heartburn about, is you have to have a RME (Responsible Managing Employee), or a NICET level 3, or fire system professional engineer on staff.  For the RME, it could just be a registered sprinkler fitter, like a journeyman and it takes 8000hrs field experience and passing a test to get there.

 

I am staring the NICET training right after the first of the year, my brother is going to register as an apprentice.  The problem being, is it's going to be about 4 years for each of us to get our certs.  So, we just figured we'd have to poach a registered fitter from another company.  No biggie, but that's tough to gauge who you'd get, and if he quits, your pretty much screwed.

 

Got a gift dropped into my lap.  I was chatting this idea up with an architect 3 weeks ago.  She said..."well, why don't you call this guy.  I know he's rather close to retirement."  I'd never heard of this guy, there is a 4th company around here, he must be small.  Huh.  I had her contact him and facilitate a meeting.  So, I called him up to see if he wanted to meet for a beer.  I wasn't expecting much...How could you not be going gang busters in this climate?  It's a very busy time here.  Turns out, he has just been winding down since his wife retired 9 months ago.  He still has like 5-6 jobs on the books coming up.  

 

Muther ####er did this turn out to be a good meeting.  He wants to sell out and retire.  We are getting all his existing business, tooling, equipment, and 2 trucks for a paltry sum.  He is also agreeing to go under contract for 12months to get us off the ground, and was agreeable to not leave until another RME registered fitter is on board.  We met with him again last night to look at all his tooling, equipment, trucks, etc.  

 

I called the lawyer today, getting paperwork drafted.  Getting the LLC set up also today as well.  Wish us luck!


Edited by AspenLeif, 15 December 2017 - 02:53 PM.

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#2 cavman

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Posted 15 December 2017 - 02:55 PM

Sweet man!


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#3 Dave

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Posted 15 December 2017 - 03:13 PM

Awesome dude, congrats!


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#4 toonces

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Posted 15 December 2017 - 03:15 PM

Get you some, Mainely.


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#5 BeersBeers24/7

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Posted 15 December 2017 - 03:19 PM

Your doing it! Good luck!
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#6 AspenLeif

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Posted 15 December 2017 - 03:23 PM

Why there is such a market here, is any residence new or remodel, over 5000SF requires a FS system. Which is basically most homes.

Since 2013, the number of building permits has increased from 350ish to 590 this year

The other companies are so business inept and or unprofessional and just too old school when dealing with multimillion dollar jobs, we are going to kill it.
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#7 BeersBeers24/7

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Posted 15 December 2017 - 03:27 PM

You'll be owning one of those 5000k+ sqft homes soon!
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#8 Car ChuckRam

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Posted 15 December 2017 - 03:28 PM

Would commercial work be up your alley as well?  What about inspection and testing of portable fire suppression equipment, and detection systems in a resort?


Edited by Car ChuckRam, 15 December 2017 - 03:33 PM.

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#9 AspenLeif

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Posted 15 December 2017 - 03:40 PM

Would commercial work be up your alley as well? What about inspection and testing of portable fire suppression equipment, and detection systems in a resort?


Initially, the plan was not to get into that for a couple years. My bro and I know residential. Now that we are buying out a guy that does about 50/50 res and commercial? The sky is the limit.

For detection systems, there are several low volt, security and comm companies here that specialize in that. Probably not, at least right away, anyway.
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#10 Car ChuckRam

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Posted 15 December 2017 - 03:50 PM

Initially, the plan was not to get into that for a couple years. My bro and I know residential. Now that we are buying out a guy that does about 50/50 res and commercial? The sky is the limit.

For detection systems, there are several low volt, security and comm companies here that specialize in that. Probably not, at least right away, anyway.

 

Just asking, because I know a guy who lives here in Oregon, and is a certified Cerberus Detection Systems technician, and also has his certs for the inspection and service of all brands, and types of portable extinguishing equipment.  


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#11 MyNameIsLuka

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Posted 15 December 2017 - 04:02 PM

Man...it sounds like you have a nice plan coming together! :frank:
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#12 MoreAmmoPlz

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Posted 15 December 2017 - 05:18 PM

Good for you! I'm glad to hear you guys are doing well for yourselves out there. 


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#13 Julius H Gardetto

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Posted 15 December 2017 - 05:26 PM

Hell yeah!
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#14 fme

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Posted 15 December 2017 - 05:50 PM

Do you need a Union Journeyman Ironworker?

 

Bahahahahahaha

 

Hoist!

 

:frank:

 

In my 9 years here if I know anything it is that I know You can do it...........

 

I wish you the best!

 

:frank:


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#15 Beejus McReejus

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Posted 15 December 2017 - 06:02 PM

Damn son! I have a deep admiration for people that have vision like yourself and the motivation and tenacity to make it happen. Very fecking cool!

:cheers:
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#16 AspenLeif

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Posted 15 December 2017 - 06:27 PM

This will be my 3rd business I've helped start.  The glulam thing was taking off, but I got too busy starting the engineering consulting business with 2 partners and rebuilding a ski house in my spare time.  Shut down glulam, grew the consulting biz from 3 people to 13 when I parted ways with a buyout and moved here.  

 

Pretty excited.  

 

We will be the only FS business out here that does all the design work in house....compliments of my 20+ years of experience with CAD.  That was one of the best things I ever did on my own.  Took Community College classes on the side while in college for CAD, and I took welding classes there too.  For fun, really, but damn have both of them paid off for me.  I was a certified welding inspector when I was back in the industrial construction sector.  


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#17 TonyBrown

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Posted 15 December 2017 - 07:18 PM

Love hearing about people doing THEIR thing and not someone else’s
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#18 Bklmt2000

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Posted 15 December 2017 - 08:27 PM

Well done, Mainely.


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#19 toonces

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Posted 15 December 2017 - 10:02 PM

*furiously waits for Lou to announce the start of Potomic City Fire Supression Systems*


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#20 AspenLeif

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Posted 19 December 2017 - 08:41 AM

This is really turning out to be quite good.  This guy wants out, you can tell.  I asked for several things yesterday morning, but 2pm I had them all.

 

List of company assets - done

Personal credit check - spotless

Business credit check - In excellent standing

3 years worth of business tax filings - done

3 years worth of of personal tax filings - done

 

The biggest thing that I need to hold an anvil over his head is if when he leaves our new business, we have to have another registered fitter on staff.  He's already agreed to a 12 month duration -AND- can't leave until a new state registered fitter is on staff.  So, I needed to come up with a protection plan for my brother and I, so he just doesn't up and quit...and try to break the contract.  I laid out a plan for 30% on the day of signing, 5% 3 months in, 5% 6 months in, and then 60% on the contract completion.  Explained that we'd like to do this to protect us from him leaving and then we'd be dead in the water until we poached a new fitter.  He called me up, and said that was very agreeable and was very pleasant about it.   

 

Oh, and was willing to pay for the credit checks to be done.  Nope, he has software to check on his client....and just ran his own.  Got it for free.  


Edited by AspenLeif, 19 December 2017 - 08:46 AM.

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