questions/advice on starting up a waterproofing business

[Chips Ahoy!]

Im looking for advice on starting up a basement/foundation waterproofing business. I have 2 years experience working for a waterproofing & masonry company and learned the trade from the ground up.
I understand that construction activity slows down during winter months or economic downturns but fortunatly leaky basements and repairs cant wait. I eventually want to incorporate masonry projects as it goes hand in hand with foundation repairs.

Im looking for advice from people who have simalar experiences starting up a business. what should I be concidering? how much of an investment to get started? I want to know as much as I can before starting in order to be successful.

-jonny

[Diamond Dave]

Im looking for advice from people who have simalar experiences starting up a business. what should I be concidering? how much of an investment to get started? I want to know as much as I can before starting in order to be successful.

I love your enthusiasm, although, the employment section isn't a great area for business advice. You should pick up some books on this topic from your local library; they are likely to have relevant information based on the state you live in.


I will say, from experience, prior to starting any business as a sole proprietor, you should have about 6mos of expenses in the bank, plan to work 70-80hrs per week for the first 3yrs, make a decision on how to register your business (LLC, Sole Prop, etc.) and how each type effects your liability, income, and taxes.

I will comment that your business concept sounds nice, although, to me, it sounds like waterproofing is a great idea IF a person has the extra money for it. If not, that sort of service is typically done when a problem arises (i.e. contrast between preventative maintenance and reactionary measures). This particular economy might not be the best to start a business that is a "nice" thing to have, but not necessary. Consider co-mingling your product with realtors and home inspectors and even banks directly since that group might frequently need a solution before a deal can move forward.

[Chips Ahoy!]

thanks for the advice.
This is not something im going to rush into at the moment. Right now, im just researching and gathering as much info i can.

[(Batman]

You need to complete what is called a "Business Plan." They will all look different but are comprised of the same basic principles. Throughout the process of developing a business plan, you come to realize exactly what you need, as it will force you to evaluate every possible liability and necessity.

You can literally google business plan. It will force you to do a lot of research. This is where you cannot afford to get lazy. Starting a successful business is not easy, nor do people just "wing it."

Start off by researching business plans and begin to develop your own. They basically guide you through the process of evaluating what your vision for the business is, what your business will require, and when it's all said and done, the business plan will allow you to determine if your idea, as it is, is feasible or not.

Good Luck.