Hi all!
Brand new to CABL.com, and about to be brand new to Subbing. I worked for a sub contractor for several years, saw the good, the bad, and the ugly. Unfortunatley, for myself and about 40 other guys, when our MSO changed pricing out Prime (Prince Telecom) decided not to resign their contracts, and left us high and dry.
I moved myseld over to in-house technician, and enjoyed the laid back pace, much better technical training, and benefits. However, I was raised a sub! I loved the peice rate, quality/speed = money, enviroment.
I am currently in negotiations with the two prime contractors still working in our KMA. I have built a crew of 5 of the best guys I worked with at Prince. The pricing seems right, the work is there, and I am excited to start my own company, and get things done the right way!
I am looking for advice! My guys will all be 1099. I will be working right along side them. I have basic contractor agreements set up, my LLC is on its way, and things are looking good. What advice do you have for me? I am open and honest with my crew, I am paying out 95% of all revenue to the techs actually doing the work. The remaining 5% will be put into the LLC to pay for insurance, start up costs, and (hopefully not needed!) legal fees, emergency funds, etc.
As a sub, to a prime, to a MSO... will I be forced to wait the 45-90 days to be paid on my work completed? Or will I be paid weekly(as the prime pays its direct subs)? If not the ladder... should I consider taking out a business loan to cover payroll expenses?
I am BRAND new to running a business. Brand new to being in charge. But I have brought in, not only the best( quality, speed, reliability ) techs Ive worked with over the years, but friends as well.I want this to work not only for my pocketbook, but for my guys as well! I know we can do the work, we can do it well.
What should I be looking for? Weary of? Should I have a lawyer and accountant?
Any information, help, advice, etc is greatly appreciated!
T3C LLC
