new business venture....so I have a few questions

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Good morning fellas. The time is quickly upon me that I'm going to wave the middle finger(figuratively of course) at the man, and go work for myself. I did iron work for 8 years after I got out of the Marine Corps.  Work got slow, so I went and got a job as a lineman for the local utility. As a lineman, I make outstanding money. More than I made as an ironworker. But...I'm not happy. It's good work, but it's not what I wasn't to do for the rest of my life. When I was an iron worker, there was never a day I didn't jump out of bed excited to get to work. I LOVED it. I loved burning rods all day. When I was doing iron, I got my structural certs and mig certs. so this leads me to a few questions....I'm starting to put the pieces together to go work for myself doing structural welding as a sub, maybe some decorative steel, handrails, etc. I've bought a few of the bigger tools already. But the one thing I'm thinking hardest on, is, would an older sa200 be a good choice for structural?  I know pipe guys cream there pants at the sight or sound of one of these old sluts doing work. Problem is, I do too I fooled with one of these one time and fell in love. When I did iron we used all blue machines. Mainly because of ac capabilities and such. But I'm kind of thinking of buying an sa200 local to me, and then picking up a generator I'd I need ac power. Am I goolish? Is it a stupid idea to use an sa200 for structural instead of a miller? Would I even notice the difference on structural? I'm not really looking to venture into pipe welding, but if the money was right and I needed to eat, I will. I'm just more of an iron work guy.    Now, onto another question. I haven't used my G.I. bill yet. So I figured,  taking night classes at a local vo tech and grab every cert they offer. Even if I don't think I'll need it, I'll take it. Is the stuff they teach you at these schools enough for getting onto most sites? Or is there somewhere better?    Thanks fellas. I'm hoping I'm not crazy in wanting what I want. And any other advice, throw it at me. Because I'm itching to get back under a hood for a living.  Semper Fi. Kill 'em all
Reply:I have had both machines and I prefer my Miller Trailblazer. But, probably going to upgrade to a Big 40 diesel soon. I have a need to run 1/16 flux core wire.Since you have a structural back ground, have you considered using your GI Bill to go for heavy equipment/diesel repair training? Heavy equipment welding and structural iron have the same fit ups and very similar weld procedures and then you have more to offer your customers. You don't want to be a one trick pony when times get slow. Something to think about...Thanks, for your service to this country!
Reply:Thanks for the reply mac. My brother is actually in that field of work and it's very slow for him. Im not very passionate about working on diesel engines or things of that nature. I just want to be excited to get up in the morning and burn rods. Iron work around here is occasionally hit or miss. But I can stay busy enough...plus having an old lady that's a nurse practitioner doesn't hurt  Semper Fi. Kill 'em all
Reply:There's so much to consider here. I did what you want to do.Except that I left a job in 1988 that I really enjoyed for 14 years to become self employed. I was 100% self-employed for 22.5 years, and in 2010, I went back to the place I left in 1988. I am there as of today, and still run my own business part time.For the 22.5 years, I built myself a real nice business building industrial metal fabrications. Finally in 2010, when my 20+ year customers all slowed down (lost a substantial amount of business overseas, etc.) I had a choice...either drum up new business in addition to my regular customers, or go get a job. I went and got a job. I was too tired to do otherwise.Long-winded, but I'm setting up a picture of reality. To be 100% self-employed is a huge undertaking. Buying equipment, getting customers, keeping them happy, getting paid, doing paperwork, paying bills when your cash flow is down, paying all the self-employment taxes, getting credit with suppliers, all the insurances, fixing screw-ups at your expense, crazy hours, bidding way too low on a job, doing a ton of work that you don't get paid for, and there's lots more that escapes me right now.And fortunately for me, my wife always carried our family's health benefits. That's a huge savings!That being said, I've had some GREAT memories, relationships, profitable moments, proud-of-what-I-built moments, days when it couldn't get any better, too.Bottom line is...until you produce and deliver your product, you really haven't earned a dime. You have to work your a$$ off.Some people can make money just by waking up every morning. Every move they make results in a profit. But those people are few and far between.A young guy where I work wants to leave our company (building nuclear subs) and become a self-employed plumber. I suggested to him to stay on here, and just take on side jobs for extra money. Even for the sake of health and dental benefits. Not to mention the company matched 401K, and all the fringe benefits.I think that being self-employed is sometimes over rated. Just my 2 cents...RichLast edited by steelsurgeon; 06-27-2015 at 02:41 PM.
Reply:Originally Posted by steelsurgeonThere's so much to consider here. I did what you want to do.Except that I left a job in 1988 that I really enjoyed for 14 years to become self employed. I was 100% self-employed for 22.5 years, and in 2010, I went back to the place I left in 1988. I am there as of today, and still run my own business part time.For the 22.5 years, I built myself a real nice business building industrial metal fabrications. Finally in 2010, when my 20+ year customers all slowed down (lost a substantial amount of business overseas, etc.) I had a choice...either drum up new business in addition to my regular customers, or go get a job. I went and got a job. I was too tired to do otherwise.Long-winded, but I'm setting up a picture of reality. To be 100% self-employed is a huge undertaking. Buying equipment, getting customers, keeping them happy, getting paid, doing paperwork, paying bills when your cash flow is down, paying all the self-employment taxes, getting credit with suppliers, all the insurances, fixing screw-ups at your expense, crazy hours, bidding way too low on a job, doing a ton of work that you don't get paid for, and there's lots more that escapes me right now.And fortunately for me, my wife always carried our family's health benefits. That's a huge savings!That being said, I've had some GREAT memories, relationships, profitable moments, proud-of-what-I-built moments, days when it couldn't get any better, too.Bottom line is...until you produce and deliver your product, you really haven't earned a dime. You have to work your a$$ off.Some people can make money just by waking up every morning. Every move they make results in a profit. But those people are few and far between.A young guy where I work wants to leave our company (building nuclear subs) and become a self-employed plumber. I suggested to him to stay on here, and just take on side jobs for extra money. Even for the sake of health and dental benefits. Not to mention the company matched 401K, and all the fringe benefits.I think that being self-employed is sometimes over rated. Just my 2 cents...Rich
Reply:I've seen plenty of businesses fail, not because the guy can't do the work, it's because he can't run a business. The paper work, billing, estimates and so on can be a killer. Don't expect to make a dime for yourself the first few years. The company will probably suck up everything is you really want to make it work. It's not until you are established and have regular customers that you can start thinking of paying yourself. Until then it's often using the profits from a previous job to cover insurance, rent, overhead and so on when things are slow.there are many days when I wish I could just go to work, do my job and go home at the end of the day and that's it. Being self employed often means I'm heading home to do paperwork or running out to buy materials for the next day, or trying to reschedule things because weather has screwed things up, or something else isn't lining up the way I'd planned. The stress of this 27/7 nonstop can really wear on you fast, and when funds get tight, it just gets worse..No government ever voluntarily reduces itself in size. Government programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we'll ever see on this earth! Ronald Reagan
Reply:Damn...kinda feels like I took a swift kick straight to the Nuggets....maybe I'll keep this as a part time gig.  Semper Fi. Kill 'em all
Reply:I had two companies, a trucking for 18 years, and construction for for the last 8 of those 18 years. I really hate to be pessimistic, but government is not business friendly at all these days. And they WILL get in your business every way they can. Now, I am soooooo happy, busting my butt for 40hrs per week, more when offered, and guaranteed to get my direct deposit paycheck EVERY week! I have sweated over $38k & $42.5k, had to start getting lawyers involved, etc. YOU can have it. And I truly wish you the best of luck if you decide to do so. My opinion, do it on the side, and CASH is king."Where's Stick man????????" - 7A749"SHHHHHH!! I sent him over to snag that MIC-4 while tbone wasn't looking!" - duaneb55"I have bought a few of Tbone's things unlike Stick-Man who helps himself" - TozziWelding"Stick-man"
Reply:I say go for it - if your wife can keep you guys afloat during low times in the first few years, I say have at it Hire someone to do the books though - it'll make you crazy Dave J.Beware of false knowledge; it is more dangerous than ignorance. ~George Bernard Shaw~ Syncro 350Invertec v250-sThermal Arc 161 and 300MM210DialarcTried being normal once, didn't take....I think it was a Tuesday.
Reply:Dont buy an SA, buy a machine like a TB302. Having the AUX power is important. Having a separate genny is a second nightmare. You are also going to need as much space for hauling and tools as you can get, an SA takes up a huge amount of real estate, add another genny and you are close to maxing out a 1 ton truck for weigh and space. Doing the accounting is the worst part of the job by far! I have been on my own for over 10 years, the work is the easy part, managing the business is the hard part.
Reply:If you got a good full time job, I suggest keeping it and do the welding thing on the side. The market is little more than a joke right now, and a great deal of it flooded with companies working for nothing, undercutting anyone at any price to get the work.I've been working for myself for 9 years now. It has been good and it has been bad. I do have the advantage of offering a service not many companies provide, but not many companies are willing to pay me for what I do. I lost two major accounts within a seven month span of each other over the last year. That nearly bankrupted me. Since then, there's been no steady money coming in. It's all come from sporadic machine sales and a few bit welding jobs since.I'm not saying poor me, but what I am is that if you got a good paying full time gig with bennies, paid vacations and other perks, I personally think you would be a straight up fool to walk away from it to do your own thing. The only way I wouldn't think so is if you had a product or service that was a near guaranteed form of positive cash flow and you had solid customers lined up with thriving businesses and in need of your services, etc.The grass is not greener. There's always trade offs. Sure, the perks of working for yourself are tangible, and after nine years of it, it would be hard to go back to work for someone else. At the same time, not having to sweat where the next check is going to come from, and not having to dump every dime you make back into the business to keep afloat isn't a bad deal at all. I live pretty simple, and have no debt other than my house, but I don't make a lot either, and whenever I get any windfall money, it always goes towards purchasing more machinery to repair and sell down the road.I would keep the job you got. At least until something with tangibly better options comes along.IMHO of courseLast edited by 7A749; 06-28-2015 at 12:27 PM.
Reply:I very much appreciate you guys giving it to me straight. I didn't realize the market was that bad still and filled with shady guys that undercut like that. I suppose I'll keep it as a side gig then. It's a shame. But it's the world we live in now I suppose. Maybe in a few years work will take off and I'll be able to support doing it full time. Tha KS again fellas.  Semper Fi. Kill 'em all