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Its time to seek some advise......

Vetech63

Senior Member
Joined
Aug 10, 2016
Messages
6,361
Location
Oklahoma
Well, out of nowhere, I had the owner of the largest company(150 pieces, give or take) I do work for call me last Friday seeking to employ me fulltime. Come to find out, the lead man (employed there 14 years) has left the company abruptly and naturally...……...it has them panicking.

I am currently listing pro's and con's of making such a move. Money is a BIG deal as I have numerous people I take care of and have for years. I talked with him in his office a bit today to get an idea of what he expects which is pretty much what I expected. I run the show with ALL the heavy equipment, shop and field, am allowed whatever personnel I feel I need, and the freedom to do repairs as I see fit.

The problem is I have been self-employed for 29 years which is a good majority of my working life. I don't know if I can even have a boss again. Another big issue is ALL the other customers I have that would have NO other option other than myself, or the equipment dealers. How I would handle that isn't an easy fix, as the potential new boss does not want me moonlighting. I could make other customer repairs on my own time, but do I want to have 2 jobs at 55 yrs. old? Not really.

It is not that I doubt myself doing the job, its more of not having the freedom I have now...…...maybe the fear of losing it. 35+ years of experience, all my contacts over the years for reasonably priced parts and tech info...…………..how do you go about placing a value on that? Is it possible to even do that?

The pros are a steady paycheck (whatever that may be), health insurance (which I don't have now), my familiarity with the owner and the company ….. and his willingness to purchase the service truck I just bought new last year ( not sure about the tooling as that wasn't discussed yet.)

I have a lot of thinking to do to decide if it would be worth it. I'm afraid what I would have to get money wise would have to be astronomical with the losses I would incur from not having my other customers. Any advise out there???? LOL
 

RTSmith

Senior Member
Joined
Oct 23, 2008
Messages
420
Location
Middle Tenn.
Occupation
Amateur demolition & dirt pusher
Wow- what an opportunity. Too bad it didn't show up 20 years ago when you were fighting to build your customer base. Seriously, you bring up good points. As a small business owner and farmer, I understand where you are coming from. I value my customers, and the trust they've put in me. Some thoughts-
A) Hate to put insurance first, but it would probably cost you $2,000+ a month for family coverage. At 55, (I am too), you can't take the risk much longer. 5 years ago I took a 16 year old son through cancer treatments. The bills I saw hit 7 figures. It would have taken the business and all my assets.
B) What's he pay? Looks to me like that's a biggie, to compare with what you've been banking yourself after reasonable depreciation and taxes.
C) Security- many things point to us being back in some type of recession within the next 18 months. Don't know how strong, or how long. But we all remember what construction and dirtwork did 15 years ago. A lone ranger might have a better chance to fight out a living, than an employee. How strong is the Co.?
D) Will you spend all your time trying to find good help? You've been working all this time, and I presume enjoying it. Becoming the "boss" is a new thing. Hiring, firing, dealing with the bookkeeper on invoices and so on. Sometimes I just want to go get my hands dirty and not have to listen to anyone's gripping (spelling? Intended verb form of gripe :)).
E) Contacts- you won't lose them. He wants you because you have parts and tech contacts. Priceless.
F) 55 From what I've learned on here, and felt myself, laying on your back in the cold mud replacing a starter isn't getting any easier. Dispatching that job out to one of your younger guys- there you go!
 

BigWrench55

Senior Member
Joined
Oct 11, 2018
Messages
1,176
Location
Somewhere
Seems to me that the only benefit would be health insurance and steady income. Those are the only pros that I can think of. Even if he were to pay you a decent wage. I think that you would lose so much more. It depends on your situation. If you have good customers that pay and you have pretty steady work. Then I would stay put. You can't put a price on your independence. Maybe you could work out a contract to help the guy out and help find a decent replacement. Something like a consultant. Then you can keep him happy and keep your customers. Good luck to you.
(Wish I had your problem) lol
 

Junkyard

Senior Member
Joined
Jun 5, 2016
Messages
3,621
Location
Claremore, OK
Occupation
Field Mechanic
Welcome to my world! lol.

It’s a tough one man, I feel your pain. Let’s chat about it tonight.
 

DMiller

Senior Member
Joined
Feb 21, 2010
Messages
16,421
Location
Hermann, Missouri
Occupation
Cheap "old" Geezer
I too see the pros/cons, weighed them myself years ago and stuck to moonlighting, two sometimes three operations in play and burnt that candle as if in a forest fire. I opted to fleet service knowing I was getting old, had enough income to pigeon hole a chunk, and get my farm aligned then have a pension as a topper. Some days I really miss the different work and conditions, others I dread having to fix my own junk.

It is what it is and always a crap shoot to step off the mark. Tell him no thanks and maybe lose a first good customer, maybe pick up More work from him and send him those you think will suit his needs for internal workers, a great client base is fine until they start retiring and leaving you sitting in a shop truck with little to do in it. Roll the dice bubba, is only Your decision.
 

ianjoub

Senior Member
Joined
Jun 22, 2018
Messages
1,437
Location
Homosassa, FL USA
It would be nice if you could speak with the guy who just left (and take it with a grain of salt).

Get a contract if you do decide to make the move. A few/several year guarantee at $xxx.

I have worked for myself my whole life with the exception of a few bartending jobs in my youth. I could not/ would not work for anyone else now. Life is too short to put up with crap from others.
 

Welder Dave

Senior Member
Joined
Oct 11, 2014
Messages
12,257
Location
Canada
Tell him you could do it part time and don't want to abandon your customer base that took years to build up. Work for 3 days a week and it gives you time to look after your other customers as well. If it doesn't work out for whatever reason, your customers may not come back if you left them hanging.
 

funwithfuel

Senior Member
Joined
Mar 7, 2017
Messages
5,518
Location
Will county Illinois
Occupation
Mechanic
I would hate to abandon my customer base. If they're good people who've kept you working, it's not their fault that the other guy lost his help. Hosspuller touched on a good point. Why'd the other feller pick up stakes? Gotta make ya wonder.
These days, insurance is just such a big factor. hard to ignore.
Best of luck with whatever decision you make.
 

Bls repair

Senior Member
Joined
Jan 21, 2017
Messages
1,612
Location
S E Pa
Occupation
Equipment operator,mechanic
The thing about putting all you eggs in one basket it only takes one thing to put you out on the street,like what has happened to other members here recently. ( Boss retires ,dies,gets sick ,let’s kids takes over business,sells business and many other causes ... It happens often.). Not easy starting over in your late 50’s.

Good luck whatever your decision.
 

thepumpguysc

Senior Member
Joined
Mar 18, 2010
Messages
7,445
Location
Sunny South Carolina
Occupation
Master Inj.Pump rebuilder
Do u think he's trying to hire u because ALL HIS WORK will now be coming to u at a BIG expense.??
Why pay a guy 3,000.00 for work on a crane {1 job}, when u can pay him 1000.00 A WEEK & have him fix ALL my sh*t..
Like the others have already said>> Pay & bennies.. how do they compare?
& he DOESNT want u moonliting?? bullsh*t..
If it wasn't for moonliting, "HE" wouldn't be your customer..{IDK, just guessing, but u could always throw it out there}..
Personally, I like the 3-4 days a week.. & that gives u time to take care of the others.. but you'd have to prioritize your after hrs customers..
Explain that u NOW have a 40 job & hafta "fit'm in".. & see how that flies..
U might hafta go & tear something down & make a parts list in the evening & on your luck hr get the parts ordered & the following weekend go put it back together.??
Good luck Man..
 

Vetech63

Senior Member
Joined
Aug 10, 2016
Messages
6,361
Location
Oklahoma
You all have made some valid points, for and against. Let me see if I can answer some of the questions asked.
1. The company has been in business for over 30 years, and I have known the owner that long also. We have always had a good and trusting business relationship so no issues there.
2. Yes, insurance for me to purchase myself I consider way too expensive...…….over 2k a month since I had a heart attack back in 2014. No other health issues so far other than the typical sore back and a tad of arthritis that shows up sometimes in my right hand.
3. I have done work for this company since 2013, and the workload for them has increased every year by an average of 15%.
4. I have 2 customers that retired last year. Although I didn't do a tremendous amount of work for either, when they needed something I got the call. I have others nearing retirement age, including this particular company owner. His youngest son has worked with him in the business and I have known him since he was a small kid...…….but I know he will run things a bit different when his dad retires.
5. The previous lead mechanic was hired on 14 years ago with no experience in heavy equipment. I had a great working relationship with him and we worked well together but his knowledge was limited to basic repairs, and troubleshooting had always been a struggle for him. I have not talked to him since he left this last Thursday, but the story I got from a job super is that he had hit a motorcyclist in his company truck about a week and a half ago (at a stoplight with the motorcyclist in front of him at 9:30 in the evening.) He was apparently driving the company truck for personal use when this happened and it is against company policy. The super then pulled up the GPS records on the truck and had found 33 instances of the truck being used off company hours for the last 2 months...…...again against company policy. Because of the accident, the general manager had informed him that he would have to take a drug test, and that since he was driving against company policy, he would be responsible for the costs of the motorcycle repairs and anything else attributed to it. He then handed over his truck, keys, records and left. On the record here, I have worked with this guy for years and never had any inclination that he could be on drugs. He never seemed to be impaired but was a bit high strung.
6. The previous mechanic above was putting in over 70 hours a week on a regular basis.
7. The customers I have now I have had for many years. At times payouts have lingered in the 45 day range, but being self employed that is something that isn't uncommon. Sometimes, **** happens that you cant control and I know how that can happen so I do have patience with them. They have NEVER stuck me with a bill.
8. Sure, security is always an issue when you work for someone else. I have learned that being self-employed has more security, but economic conditions I cant control and have several times that those came close to ending my own business.
9. Pay hasn't been discussed as of yet. I currently do around $250K a year on my own and that's a weak year. I have done as well as $650K (2013) and peaked at $1.3Mil (2014) annually. As of the last 3 years, I average around $11-$13k a month for this customer alone in billable repair time.
10. Here is the real kicker. In Oklahoma, the pool of qualified, experienced heavy equipment techs is extremely small. This company (and others including the dealers here) haven't been able to keep even basic help. They have hired 3 supposedly experienced mechanics, only to have them quit in less than a month. The only mechanics available are the dealer techs and a lot of those are a crapshoot. There are less independents like myself every year due to retirements or injuries and there is no one available to replace them. The owner already knows that to get what he wants he has to look BIG.
11. I am extremely loyal to my customer base. If I were to do something like this, I have NO referrals and will end up leaving them helpless which is undesirable.
12. A contract is a possibility maybe...……….I am an advisor for them already and have been for awhile.

I will sleep on this tonight as I'm sure I will have more to throw out there on this in the morning.
 

thepumpguysc

Senior Member
Joined
Mar 18, 2010
Messages
7,445
Location
Sunny South Carolina
Occupation
Master Inj.Pump rebuilder
Lets visit the "he wants to buy my truck" part..
THAT MEANS> it gets GPS'd & u cant do sh*t after hrs.. Let THAT sink-in overnite.!!! lol
Maybe its just me, but NOBODY OWNES ME when I leave the property.. Its MY TRUCK & MY TOOLS & I'll turn'm wherever I please, when I'm off YOUR clock..
 

AzIron

Senior Member
Joined
Jun 14, 2016
Messages
1,541
Location
Az
The question I would ask myself is how how much more or less am I going to have to work in the coming years than what I am right now if I work for this guy

I have rarely seen a mechanic at company that worked less than 50 a week most work more my guess is you wont have much time to moon light

If he bought your truck it would be his truck end of story I would think

But this thought occurs to me he is trying to buy you out basically for much less than your business is worth not that you could sell out your book to anyone for what it's worth so you may never just a thought
 

Welder Dave

Senior Member
Joined
Oct 11, 2014
Messages
12,257
Location
Canada
I don't think he could pay you anywhere near to what you are making on your own and sounds like he wants to keep you on a leash. The reason for buying your truck may be more to keep you on a leash. If you do consider the offer lease the truck to him and you keep it in the end. You need the truck to do the work and it's cheaper for him than buying a new truck. My dad did this when he sold out and stayed on doing commission sales. I'm not sure but I don't think there are many mechanics making close to 200K working for someone else. This is allowing the extra to cover your insurance, etc. Simple figuring if he paid you 13K/month is $156,000/yr. How many hours per week does he expect you to work?
 

John C.

Senior Member
Joined
Jun 11, 2007
Messages
12,865
Location
Northwest
Occupation
Machinery & Equipment Appraiser
Just a few thoughts. Are those incomes you speak of gross sales or net income? Either way they likely are far and away more than you will ever get paid by any employer. Second item is what do you have in the kitty for retirement and what will you still owe on when you stop working? How many dependents are you carrying? Does the employer have any type of retirement plan, 401K with company match, IRA plan or other tax deferred way to acquire funds? Being an independent generally means you are reacting to your customer's needs as they come up. Working for a fleet means assessing present condition and making future plans for spending. Do you have the business skills to put together a financial plan to keep the fleet at a minimum state of readiness. Last item is how well do you work with people? As an independent contractor you really don't care about all the quirks and idiosyncrasies of those around you. As the boss, all the quirks will get on your nerves before too long. How are you going to keep them producing when they get tired of all your quirks and idiosyncrasies?
You have a lot to think about. As far as I can see you can't lose either way. Just keep the truck and your own tools. You can always go back to your own business later.
 

Mother Deuce

Senior Member
Joined
Jul 17, 2016
Messages
1,603
Location
New England
You all have made some valid points, for and against. Let me see if I can answer some of the questions asked.
1. The company has been in business for over 30 years, and I have known the owner that long also. We have always had a good and trusting business relationship so no issues there.
2. Yes, insurance for me to purchase myself I consider way too expensive...…….over 2k a month since I had a heart attack back in 2014. No other health issues so far other than the typical sore back and a tad of arthritis that shows up sometimes in my right hand.
3. I have done work for this company since 2013, and the workload for them has increased every year by an average of 15%.
4. I have 2 customers that retired last year. Although I didn't do a tremendous amount of work for either, when they needed something I got the call. I have others nearing retirement age, including this particular company owner. His youngest son has worked with him in the business and I have known him since he was a small kid...…….but I know he will run things a bit different when his dad retires.
5. The previous lead mechanic was hired on 14 years ago with no experience in heavy equipment. I had a great working relationship with him and we worked well together but his knowledge was limited to basic repairs, and troubleshooting had always been a struggle for him. I have not talked to him since he left this last Thursday, but the story I got from a job super is that he had hit a motorcyclist in his company truck about a week and a half ago (at a stoplight with the motorcyclist in front of him at 9:30 in the evening.) He was apparently driving the company truck for personal use when this happened and it is against company policy. The super then pulled up the GPS records on the truck and had found 33 instances of the truck being used off company hours for the last 2 months...…...again against company policy. Because of the accident, the general manager had informed him that he would have to take a drug test, and that since he was driving against company policy, he would be responsible for the costs of the motorcycle repairs and anything else attributed to it. He then handed over his truck, keys, records and left. On the record here, I have worked with this guy for years and never had any inclination that he could be on drugs. He never seemed to be impaired but was a bit high strung.
6. The previous mechanic above was putting in over 70 hours a week on a regular basis.
7. The customers I have now I have had for many years. At times payouts have lingered in the 45 day range, but being self employed that is something that isn't uncommon. Sometimes, **** happens that you cant control and I know how that can happen so I do have patience with them. They have NEVER stuck me with a bill.
8. Sure, security is always an issue when you work for someone else. I have learned that being self-employed has more security, but economic conditions I cant control and have several times that those came close to ending my own business.
9. Pay hasn't been discussed as of yet. I currently do around $250K a year on my own and that's a weak year. I have done as well as $650K (2013) and peaked at $1.3Mil (2014) annually. As of the last 3 years, I average around $11-$13k a month for this customer alone in billable repair time.
10. Here is the real kicker. In Oklahoma, the pool of qualified, experienced heavy equipment techs is extremely small. This company (and others including the dealers here) haven't been able to keep even basic help. They have hired 3 supposedly experienced mechanics, only to have them quit in less than a month. The only mechanics available are the dealer techs and a lot of those are a crapshoot. There are less independents like myself every year due to retirements or injuries and there is no one available to replace them. The owner already knows that to get what he wants he has to look BIG.
11. I am extremely loyal to my customer base. If I were to do something like this, I have NO referrals and will end up leaving them helpless which is undesirable.
12. A contract is a possibility maybe...……….I am an advisor for them already and have been for awhile.

I will sleep on this tonight as I'm sure I will have more to throw out there on this in the morning.
Seems that perhaps you have answered your own question, after reading the above post. Go with your gut.
 
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