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Old 07-26-2012, 11:13 AM   #1
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Hello to everyone,


I have my own electrical contracting company and have been in business for 18 years. Times are slow but we will prevail.

I started as an apprentice with the company I now own 30 years ago. I did my four years apprentice and then served as a journeymen before buying my boss out.


Steve B
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Old 07-26-2012, 11:37 AM   #2
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Hello to everyone,


I have my own electrical contracting company and have been in business for 18 years. Times are slow but we will prevail.

I started as an apprentice with the company I now own 30 years ago. I did my four years apprentice and then served as a journeymen before buying my boss out.


Steve B
Hello Steve B..

Welcome to the forum....

I agree it is dead right now.

What part of mass are located?
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Old 07-26-2012, 05:12 PM   #3
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I am in Worcester and yourself
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Old 07-26-2012, 05:14 PM   #4
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welcome to the forum
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Old 07-27-2012, 03:23 AM   #5
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Welcome to the forum.

Let's get you participating right away. You said you bought your boss out (I think that's outstanding). I'm curious, how did you arrive at the purchase price? I'm not asking what the price is, just how did you get there?
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Old 07-27-2012, 06:50 AM   #6
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I am in Worcester and yourself
Newton Waltham area.
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Old 08-01-2012, 03:41 PM   #7
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Welcome to the forum.

Let's get you participating right away. You said you bought your boss out (I think that's outstanding). I'm curious, how did you arrive at the purchase price? I'm not asking what the price is, just how did you get there?
I will give you the short version.

I started as an apprentice with the company did my 4 years. I had my journeymen's licence after 3 years due to working for my uncle while I went to trade school. After getting my licence and still an apprentice in the union I was running jobs for my boss. I then spent 13 years as a foremen basically running the company for him while he was in Florida for 3 weeks at a time then coming home for a week.

My boss was in his 60's at the time and there were 9 journeymen working for the company. 2 men worked out doing general maintenance and the balance worked at one factory. He had the contract at this factory for over 30 years and finally there was a change in the regime at the factory. They decided that it was better for them to hire there own electricians and let us go. With only enough work for just 2 journeymen my boss decided to close up shop as it would take to much work for him to get more work if he was going to be in FL for a few weeks at a time.

This was in the early 90's and according to the union it would be at least a year before I would go back to work. I had a talk with another worker and we decided to go into business together and make an offer to buy the boss out.

He was the best boss anyone could ever have. We had a little sit down and asked how much he wanted for the company assets and phone number. Assets include 4 trucks and just about every tool needed to do electrical work. I am not going to say how much we paid, but you are probably caring more in your pocket then we paid. Best thing we got from him was some great advice that we did do.

After 3 years my partner wanted to go a different direction. At the time we had just a couple of men working for us. We did come to a number that was good for the 2 of us. This was back in 96, since then I have been running the company with my wife. I still see my old boss 2 times a year and I see my old partner occasionally. We did part on good terms.

Also of note is I started as a apprentice working for my uncle when I was going to trade school as he had his own electrical contracting business. As it turns out he worked for me for 3 years retiring from the company. This was pretty good I thought I broke in with him and then he retired from working for me.

And that my friends is the short of it.

Steve B

Last edited by 69gp; 08-01-2012 at 03:48 PM.
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