Starting a welding company !!! Help

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Hello everybody,  I have being a welder for 3 years now, but I wanna start my own welding company now, specializing in TIG Welding ( steel,stainless,and Aluminium ) but get stuck on how to draft a business plan....Please Help, any ideal of where start would be appreciated.whats should I think of?
Reply:Sounds good.... Here's how "plans" are. If it's YOUR plan it will have a good chance of being successful. It you take someone else's plan, it may not work for you.So....... Tell us, What's YOUR plan? What are your resources? What is your experience? What is your education? How much money can you sink into a business? Do you have someone that could be a partner as well as offer some "guidance"?There will be more questions.Thanks,HoboLincoln SA200's... at least 15 - 20. They come and go. Growing partial to the "Short Hoods" in my old age. Last count on Short Hoods was 13 in possession.
Reply:I've seen a ton of guys who can do the work, but have their business fail because they can't run the business end of things. Asking this question makes me wonder if you are really ready to go out on your own from the business end of things.The work is "easy", it's finding the jobs, bidding them so you stay competitive yet still make money, covering the insurance, licenses, taxes, workmans comp, social security, permits, vehicles, equipment, overhead and dozens of other things that is "hard". If you love long hours, 7 days a week for little or no pay, owning your own business is the way to go. It's usually suggested that you have at least 18 months of money set aside  for food and living expenses besides what you need to plunk down on the business to get going. I hate to tell you this, but in this economy every guy who thinks he can weld, has a small machine and is out of work or "under employed", is out there grabbing whatever business they can. Most don't worry about things like insurance and so on, and most will fail and disappear within a year. The problem is most will undercut guys that are doing work legit, that makes it hard to compete, especially if you are just starting out and don't have a group of core clients yet. There are guys who will happily work for $10-15 / hr on a job that will cost you $30-45 / hr just in expenses. All you do when you go against them is loose.Cut corners and get caught, and you'll wish you'd hit the lottery and then tossed all your winnings in the shredder. At least you'd get the satisfaction of having a ton of expensive confetti when you are done..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:Originally Posted by hobohiltonSounds good.... Here's how "plans" are. If it's YOUR plan it will have a good chance of being successful. It you take someone else's plan, it may not work for you.So....... Tell us, What's YOUR plan? What are your resources? What is your experience? What is your education? How much money can you sink into a business? Do you have someone that could be a partner as well as offer some "guidance"?There will be more questions.Thanks,Hobo
Reply:Originally Posted by DSWI've seen a ton of guys who can do the work, but have their business fail because they can't run the business end of things. Asking this question makes me wonder if you are really ready to go out on your own from the business end of things.The work is "easy", it's finding the jobs, bidding them so you stay competitive yet still make money, covering the insurance, licenses, taxes, workmans comp, social security, permits, vehicles, equipment, overhead and dozens of other things that is "hard". If you love long hours, 7 days a week for little or no pay, owning your own business is the way to go. It's usually suggested that you have at least 18 months of money set aside  for food and living expenses besides what you need to plunk down on the business to get going. I hate to tell you this, but in this economy every guy who thinks he can weld, has a small machine and is out of work or "under employed", is out there grabbing whatever business they can. Most don't worry about things like insurance and so on, and most will fail and disappear within a year. The problem is most will undercut guys that are doing work legit, that makes it hard to compete, especially if you are just starting out and don't have a group of core clients yet. There are guys who will happily work for $10-15 / hr on a job that will cost you $30-45 / hr just in expenses. All you do when you go against them is loose.Cut corners and get caught, and you'll wish you'd hit the lottery and then tossed all your winnings in the shredder. At least you'd get the satisfaction of having a ton of expensive confetti when you are done.
Reply:Originally Posted by AbiolaHi Hobo,      Well, I understood that you can never use somebody else Idea...because thats an ingrident for failiure...My  idea is simple, its just to be a freelance welder, and my target are those individuals in need of a welder day to day. ( reperations ) 2nd group are construction companies or individuals with smaller projects, 3rd group are oil&gas industries and 4 group are in the pipe welding production in water companies or similar. the idea is to offer them the services they need without having to employed me a munite more than they should...as for the experience, I Only have 3 years of pipe welding in a production line building district heating system......from a CAD drawing.....as for Money to invest, I'm pratically broke, but I can allways rent the equipments needed for a job at a time......education is High school cert plus, welding school.........but the core of my idea is to be mobile and efficients. so, there you have it......you thought would be welcome..........Thanks
Reply:Another consideration is how many guys in your area already have this idea and are on the road doing it. The market can only support a certain number of providers before supply exceeds demand.I heard from a guy doing the same thing as a sideline. He eventually gave it up because he felt like he was getting the jobs nobody else wanted... "fix my lawn furniture" calls from homeowners and lying in rain and sleet under a truck on the side of the highway at 2 am, and then not getting paid for his efforts.
Reply:im about 3 months into serious work at my own business, and things are booming. i do my own thing after work and on weekends, and just today i pulled in and locked down enough work to last 2 weeks. working about 6-7 hours a day (above the 8 i do for the day job) durring the week and 12-15 on weekends. I dont advertise all that much. my day job will not allow it, but the word is spreading. I do dabble a bit on the internet tossing out feelers every once in a while. but really my bread and butter is the 6000+ people i work with in the building.and the more work i do the more peopale want something done. I am actually in the process (between paying jobs) of building a new sign that will read "Neonatal Intensive Care Unit" that will be donated to my empoyeer. and ill bug the manager to see about getting it in the weekly newsletter that " once of your dedicated staff memebers donated this sign." bla bla bla look how great he is, bla bla bla. but that will open up the 2 other hospitals in our system. bringing my captive audience to 10,000+bassically in short find a spot you can nestle in, and get estabilshed as "go to" guy. and you will have it made. now im trying to get the hospital to bite on letting supply all the welding, and fabrication needs. as thats one big customer.Offering CNC Plasma cutting and welding projects.Follow me on facebook https://www.facebook.com/nobigdeal.fabSupport those that support WW.
Reply:Originally Posted by fortyonethirtySeems to me that what you need are connections. I'm sure you've heard the old cliche "it's not what you know, but who you know". Making these kinds of connections takes time. Advertising and cold calling may help, but not much. Maybe look into joining your local builders exchange.
Reply:Originally Posted by asdfAnother consideration is how many guys in your area already have this idea and are on the road doing it. The market can only support a certain number of providers before supply exceeds demand.I heard from a guy doing the same thing as a sideline. He eventually gave it up because he felt like he was getting the jobs nobody else wanted... "fix my lawn furniture" calls from homeowners and lying in rain and sleet under a truck on the side of the highway at 2 am, and then not getting paid for his efforts.
Reply:That'll teach me to read my own posts... I sure didn't mean to discourage you, only to offer another viewpoint. The post right after mine (from NoBigDeal Fab) gives proof it can be done. Some of the hardest working people I know are self-employed. When they're not doing the work that's in-house they're out and about marketing their services and drumming up next week's job.Since this thread is about a business plan, and since getting paid is VERY important, have you thought about that smartphone app that allows credit card payments? The provider takes a 3% whack off the top, but 97% of your regular fee is more than 100% of a rubber check. Paypal would be a natural, too.
Reply:Tough business that welding business.Disclaimer; "I am just an a$$hole welder, don't take it personally ."
Reply:I'm 23 years old.  Began the welding company M&L Fabrication, LLC with my older brother almost a year ago.  Things have been busy since we started.  Don't plan on having a weekend free/completely free for a long time, and plan on doing many 100 hour weeks.  Wouldn't change a thing though, I very much enjoy being self employed and know that the hard work will pay off in the long run.One thing leads to another, and before you know it, it takes quite a bit of start-up money to get going.  If you get the ball rolling now, work hard at it, and provide a service that others can't for one reason or another, things will grow.  Good luck!
Reply:Always invest in yourself and make connections. I'm still in contact with people I worked with 18 years ago--all in various trades. I'm a 'people person', if I could just nail down the 'invest in yourself' thing I would be all set. LOLIn my area of work, most all of the positions are being outsourced because many companys don't want to staff me full time--saving money on hours and benefits. Most companys stopped offering pensions and NO JOB is secure, so being your own boss is your best option in the long-term.I seen a guy with his secure job first lose his pension after 30+ years and his job not long after. I think he works at Lowes or Home Depot now. It's a shame and I wish I would have invested in myself a long time ago, better late than never.Good luck.
Reply:Originally Posted by asdfThat'll teach me to read my own posts... I sure didn't mean to discourage you, only to offer another viewpoint. The post right after mine (from NoBigDeal Fab) gives proof it can be done. Some of the hardest working people I know are self-employed. When they're not doing the work that's in-house they're out and about marketing their services and drumming up next week's job.Since this thread is about a business plan, and since getting paid is VERY important, have you thought about that smartphone app that allows credit card payments? The provider takes a 3% whack off the top, but 97% of your regular fee is more than 100% of a rubber check. Paypal would be a natural, too.
Reply:Originally Posted by asdfThat'll teach me to read my own posts... I sure didn't mean to discourage you, only to offer another viewpoint. The post right after mine (from NoBigDeal Fab) gives proof it can be done. Some of the hardest working people I know are self-employed. When they're not doing the work that's in-house they're out and about marketing their services and drumming up next week's job.Since this thread is about a business plan, and since getting paid is VERY important, have you thought about that smartphone app that allows credit card payments? The provider takes a 3% whack off the top, but 97% of your regular fee is more than 100% of a rubber check. Paypal would be a natural, too.
Reply:Originally Posted by TozziWeldingTough business that welding business.
Reply:Originally Posted by montgoc3I'm 23 years old.  Began the welding company M&L Fabrication, LLC with my older brother almost a year ago.  Things have been busy since we started.  Don't plan on having a weekend free/completely free for a long time, and plan on doing many 100 hour weeks.  Wouldn't change a thing though, I very much enjoy being self employed and know that the hard work will pay off in the long run.One thing leads to another, and before you know it, it takes quite a bit of start-up money to get going.  If you get the ball rolling now, work hard at it, and provide a service that others can't for one reason or another, things will grow.  Good luck!
Reply:Originally Posted by LiverLipsAlways invest in yourself and make connections. I'm still in contact with people I worked with 18 years ago--all in various trades. I'm a 'people person', if I could just nail down the 'invest in yourself' thing I would be all set. LOLIn my area of work, most all of the positions are being outsourced because many companys don't want to staff me full time--saving money on hours and benefits. Most companys stopped offering pensions and NO JOB is secure, so being your own boss is your best option in the long-term.I seen a guy with his secure job first lose his pension after 30+ years and his job not long after. I think he works at Lowes or Home Depot now. It's a shame and I wish I would have invested in myself a long time ago, better late than never.Good luck.