I have been reading this forum for some time now, and I have to say that i respect what you all have to say. I have a question, I have been doing roofing side jobs on the weekends for quite some time now…cuz there are no contractors in my county. I am thinking about going legit and am curious what I have to look forward to as far as expenses in getting a license and bonded. Also what does workman’s comp look like as far as cost goes? The only employees I have are myself and my two brothers. Any advice would be greatly appreciated…thanks
Costs are going to vary widely depending on where you live & plan to do business --Where do you live?
workmans comp will be your biggest bill by far. regardless what anyone tells you expect to pay 50% of your payroll to comp. there are so many hidden fees involved that they will tell you like 33% but it ends up around 50% after all the terrorism crap. first get an accountant (he will guide you in the right direction) without a business plan you are screwed. there are a lot of things he can tell you that you might not be prepared for other wise. then get a DBA. then liability. then comp. don’t start payroll until you get comp. don’t hide roofing from your comp either or they will nail you to the wall. you had better be strong willed to own a business in this industry.
I suggest going LLC or Corp. to protect yourself. DBA papers only will let you have a business. You can be sued for anything and your home can be lost.
i am licensed in several states i might be able to tell you how to get theme or some one on this sight can .
depending on the state its possible you will have to get a bond not to worry this bond will be easy . some states or counties require test