Qualifying a business - Electrician Talk - Professional Electrical Contractors Forum
CLICK HERE AND JOIN OUR COMMUNITY TODAY, IT'S FREE!
Go Back   Electrician Talk - Professional Electrical Contractors Forum > Business > Business, Marketing, and Sales


Like Tree3Likes
  • 1 Post By CTshockhazard
  • 2 Post By splatz
Reply
 
Thread Tools Display Modes
Old 01-18-2019, 10:22 AM   #1
Junior Member
 
Bgw223's Avatar
 
Join Date: Jan 2019
Location: Virginia
Posts: 10
Rewards Points: 4
Default Qualifying a business

Hello I am a Master electrician/plumber. I currently work in manufacturing/maintenance. I have an exciting job offer from a company who usually subs out the electrical portion of their projects. Because they do not have an electrical license. They are wanting to hire me to lead a 4 man crew and want me to qualify there business for electrical work. They are offering a decent wage in line with other companies. My question is should I expect a higher pay rate ir some other encentives from them since I will be qulifying them?
Bgw223 is offline   Reply With Quote
Join Contractor Talk

Join the #1 Electrician Forum Today - It's Totally Free!

ElectricianTalk.com - Are you a Professional Electrical Contractor? If so we invite you to join our community and see what it has to offer. Our site is specifically designed for you and it's the leading place for electricians to meet online. No homeowners asking DIY questions. Just fellow tradesmen who enjoy talking about their business, their trade, and anything else that comes up. No matter what your specialty is you'll find that ElectricianTalk.com is a great community to join. Best of all it's totally free!

Join ElectricianTalk.com - Click Here JOIN FOR FREE


Warning: The topics covered on this site include activities in which there exists the potential for serious injury or death. ElectricianTalk.com DOES NOT guarantee the accuracy or completeness of any information contained on this site. Always use proper safety precaution and reference reliable outside sources before attempting any construction or remodeling task!

Sponsored Links
Advertisement
 
Old 01-18-2019, 10:23 AM   #2
Junior Member
 
Bgw223's Avatar
 
Join Date: Jan 2019
Location: Virginia
Posts: 10
Rewards Points: 4
Default

I will add these are commercial projects with a large profit margin.
Bgw223 is offline   Reply With Quote
Old 01-18-2019, 10:53 AM   #3
Sentimental Mental
 
CTshockhazard's Avatar
 
Join Date: Aug 2009
Location: CT
Posts: 943
Rewards Points: 1,368
Default

Quote:
Originally Posted by Bgw223 View Post
My question is should I expect a higher pay rate ir some other encentives from them since I will be qulifying them?

Abso-freaking-lutely!


Not just more, but way more.
HackWork likes this.
__________________
.
__________________________________________________

Either you like bacon, or you are wrong.
CTshockhazard is offline   Reply With Quote
Sponsored Links
Advertisement
 
Old 01-18-2019, 11:44 AM   #4
Moderator
 
John Valdes's Avatar
 
Join Date: May 2007
Location: South Carolina
Posts: 15,429
Rewards Points: 2,490
Default

Welcome to Electrician Talk.
Please take a few minutes and fill out your profile.
John Valdes is offline   Reply With Quote
Old 01-18-2019, 11:48 AM   #5
Senior Member
 
MikeFL's Avatar
 
Join Date: Apr 2016
Location: The Sunshine State
Posts: 5,061
Rewards Points: 2,230
Default

I'd tell them you want that hefty salary plus 7.5% of gross contract amount on the electric work and let them negotiate it down to 5% and they'll be happy and so will you.

Go get it.
__________________
Michael Gookin, President
GPS Timers

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

(833) GPS-TIME
MikeFL is offline   Reply With Quote
Old 01-18-2019, 07:42 PM   #6
Senior Member
 
Join Date: Dec 2017
Location: NY
Posts: 117
Rewards Points: 4
Default

Salary, all insurance and licenses paid for and percent of all sales.
Apelectric is offline   Reply With Quote
Old 01-19-2019, 07:26 AM   #7
Senior Member
 
blueheels2's Avatar
 
Join Date: Apr 2009
Location: Raleigh, NC
Posts: 528
Rewards Points: 320
Default

I was recently approached about this. I can’t because I’m qualifying my own company but my initial thought was nice salary with 10% of the profits and company vehicle etc.

The only guy I’ve ever known qualifies work for a company doing work in 4 states and he implies he gets about 90 a year and a company vehicle. And he works his ass off. No way in hell that would work for me.
blueheels2 is offline   Reply With Quote
Old 01-19-2019, 08:05 AM   #8
Hackenschmidt
 
splatz's Avatar
 
Join Date: May 2015
Location: Parts Unknown
Posts: 7,870
Rewards Points: 3,144
Default

Some good ideas above, now that I think about it I am sure the rules vary state by state, not just licensing but liability.

I'd ask that if you reach a tentative agreement with respect to compensation, they agree to reimburse fees to a lawyer of your choosing, who's qualified in this field, to review the agreement from your perspective, make sure the details or the arrangement are in line with licensing, make sure you understand any liability this could be exposed to, and make sure that you will be able to collect commissions readily if they try to stiff you.
SummitElectric1 and jelhill like this.
__________________
Everything Should Be Made as Simple as Possible, But Not Simpler
splatz is offline   Reply With Quote
Old 01-19-2019, 11:56 AM   #9
Moderator
 
John Valdes's Avatar
 
Join Date: May 2007
Location: South Carolina
Posts: 15,429
Rewards Points: 2,490
Default

Please see this link. You need a profile. Thanks

https://www.electriciantalk.com/f3/a...fields-258186/
John Valdes is offline   Reply With Quote
Old 01-19-2019, 05:59 PM   #10
Junior Member
 
Bgw223's Avatar
 
Join Date: Jan 2019
Location: Virginia
Posts: 10
Rewards Points: 4
Default

Thanks for the responses. That is kind of what I was thinking good salary and 10% of profits and a company truck. I really only want to do it to save back some of that extra money for about a year then start my own company.
Bgw223 is offline   Reply With Quote
Old 01-19-2019, 06:23 PM   #11
Senior Member
 
MikeFL's Avatar
 
Join Date: Apr 2016
Location: The Sunshine State
Posts: 5,061
Rewards Points: 2,230
Default

Quote:
Originally Posted by Bgw223 View Post
Thanks for the responses. That is kind of what I was thinking good salary and 10% of profits and a company truck. I really only want to do it to save back some of that extra money for about a year then start my own company.
When an agreement involves a % of profits, we enter what's called "Hollywood Accounting" which dates back to when big stars would be offered a % of the profits of the film and the producer (who didn't want to pay him) would come up with all kinds of accounting like $50,000 per day for catering coffee and donuts on the set payable to his brother, etc. You'll never agree on what "profit" means.

There is never a debate on gross contract amount.

I'd rather have 5% of something that can be defined than 10% of whatever is going to be argued over.
__________________
Michael Gookin, President
GPS Timers

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

(833) GPS-TIME
MikeFL is offline   Reply With Quote
Old 01-19-2019, 06:30 PM   #12
86 45 20
 
Southeast Power's Avatar
 
Join Date: Jan 2009
Location: Florida
Posts: 17,440
Rewards Points: 7,544
Default

Quote:
Originally Posted by MikeFL View Post
When an agreement involves a % of profits, we enter what's called "Hollywood Accounting" which dates back to when big stars would be offered a % of the profits of the film and the producer (who didn't want to pay him) would come up with all kinds of accounting like $50,000 per day for catering coffee and donuts on the set payable to his brother, etc. You'll never agree on what "profit" means.

There is never a debate on gross contract amount.

I'd rather have 5% of something that can be defined than 10% of whatever is going to be argued over.
Interesting that a contractor can offer someone 5% of their gross sales.
I'm not sure that a shop grossing 1,000,000 can just hand someone 50k. That's going to be complicated.
Southeast Power is offline   Reply With Quote
Old 01-19-2019, 07:18 PM   #13
Senior Member
 
MikeFL's Avatar
 
Join Date: Apr 2016
Location: The Sunshine State
Posts: 5,061
Rewards Points: 2,230
Default

For the opportunity to enter into that contract?
Heck you pay more than that selling your biggest asset (your home).
If OP is going to put his professional license on the line, it's worth it to the company and OP needs to know he's getting something for the risk he's taking. Any one job where someone dies and OP may find himself with no license for life. What is the reward relative to the risk then?
__________________
Michael Gookin, President
GPS Timers

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

(833) GPS-TIME
MikeFL is offline   Reply With Quote
The Following User Says Thank You to MikeFL For This Useful Post:
Southeast Power (01-19-2019)
Old 01-19-2019, 07:44 PM   #14
Moderator
 
John Valdes's Avatar
 
Join Date: May 2007
Location: South Carolina
Posts: 15,429
Rewards Points: 2,490
Default

Welcome to Electrician Talk.
Thanks for taking the time to fill out your profile.
John Valdes is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Contractor or employee DON.L Canadian Electrical Forum 12 07-06-2018 07:40 AM
Business Partnership NJ Contractor Business, Marketing, and Sales 28 11-14-2017 12:35 PM
Have You Changed Your Business Structure? Cricket Business, Marketing, and Sales 2 01-14-2016 07:31 PM


All times are GMT -4. The time now is 04:25 AM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.1
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
User Alert System provided by Advanced User Tagging (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
Our Pro Sites Network
ContractorTalk.com | DrywallTalk.com | HVACSite.com | PaintTalk.com | PlumbingZone.com | RoofingTalk.com