With the corona thing going on currently, I’ve been spending this downtime on looking into business, doing some other activities, etc.
I was going to be in my first year this spring but alas here we are.
Should I do it solo or with a partner? Main deterrent is the 50-50 split among all the other business expenses that will most likely come out, for employees, vehicles, equipment, etc.
And I’m gonna be doing window cleaning, gutter cleaning, powerwashing eventually so this is not a roofing company… meaning that I don’t see the profit being anything major in these fields unless it’s highrise.
The main reason I’m considering a partnership is the benefit of having a reliable worker, he can go on the estimates, he can toss me ideas and we can work on them.
But the more I look into it the more I see 50% being a huge expense let alone all the other ones…
I can do the work myself right? I can do residential homes with a ladder solo, no? Unless it’s like a three story or something.
I can go on the estimates and I can think of ideas.
As I gain traction I can hire a helper who’s loyal and works / builds the business with me and what pay him 20% say instead of 50%?
What are some other benefits of partnerships that I don’t see…
Definitely solo. I’ve run the numbers every which way from Sunday. There’s typically not enough money in this to have a partner. As you grow, you can afford a manager.
"The main reason I’m considering a partnership is the benefit of having a reliable worker, "
That doesn’t sound like a partner, it sounds like a reliable worker. Which is wonderful to have. Pay him/her well and you’ll do great.
Yes you can do all the work yourself, no problem doing residential solo with a ladder. Lots of us doing just that.
Right!? I don’t see enough money in a partnership the only way would be to target the high income homes where the average ticket for a job would be $800-$1200 per house. But that’s so far down and I mean by the time we or i would get there I mean I can just have employees doing the work.
Idk partnership looked great but there’s not enough money and I can do most of the work myself
Yeah I was thinking it might take me longer but I’ll be on site say 8 AM and work 6-8 hours, I can split it up into 2 days even.
As long as I can do the work there’s no need for a partner
Time and time again you’ll find 100x more reasons not start a partnership. I know lot’s of successful solo small businesses owners and plenty of un-successful partnerships. There will always be one guy who does more work than the other.
I’ve decided not to get into a partnership. The 50% expense to a partner I feel is a major expense whereas I can see myself paying a lead technician 20-25 an hour. Basically I can hire more talent solo and pay them more and keep more profit that way. Thx