This will be an interesting thread moving forward......

[kshansen]

I think one of the first things on the list of changes would be no crap in the shop that isn't needed to work on projects that earn money! No jet skis or golf carts and so on!

Next would be a secure place for tools, supplies and parts that only a very select number of people have access to!

 

[stinky64]

Beat me Dodge, was thinking along the lines As The Bomag Turns..

 

[Joe H]

If you could hire a couple of these guys you'd have it made.

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Joe H

 

[Welder Dave]

The Edge of Insanity.

 

[Junkyard]

Paving the way to insanity

 

[Tags]

Wrenching your Heart Out

 

[Mike L]

The road to hell is paved with good intentions.

 

[Vetech63]

Now for the equipment discussion.

I was asked about a undercarriage quote they received from Deere for a 250G excavator........was over 35K. Marcus wanted to point out that this was the type of stuff he was talking about. I didn't even know about this......again, someone else sent something to the dealer again. Why can't we do this in house? I came back with why are we doing it at all? That machine has over 11K hours, on the original engine and all power train components. Its good life is used up, well past it..........I told him that machine needed to go like I said 2 years ago. Spend 35K+, and then an engine, pump or final drive here soon? Makes no sense to me. He had this look like a lightbulb went off in his head...........told him I see this stuff constantly.

Just saved them 35K when he decided I was right.

Had discussion on shop and theft. That has yet to be determined but some ideas were thrown around. He then made the statement that putting me on would be greatly beneficial and could see an immediate impact on what they want to correct. Then he asked what it would take..........oh boy. Not ready for that one yet. I discussed the pros and cons of becoming an employee from my point of view, which he seemed to agree. Then I threw out that it would be more beneficial for me to stay on as a contractor, buy my assets, and me work fulltime for the company............another light bulb moment. He said he would be very interested in that and to get him numbers soon. I felt pretty good leaving the meeting........so far.

Assets would be $250K.......the buyout there isn't going to be a problem. What I should charge them for 40 hours a week as a contractor, with training included, parts procurement and pick-up, managing repairs in field and shop, shop maintenance and upkeep, tooling requirements moving forward............a lot of things to contemplate.

So, my question to you fellas..................if you were me, considering everything involved.........what would you think is a fair rate? I'm billing between $25K-35K a month right now as it is being self-employed.

 

[Vetech63]

Biggest question is, if you can lock this gig in at a set rate schedule for whatever amount of time you feel is right, will you give them a bit of a break? To make them feel like they've won a little?

In my opinion they are winning BIG. I have 40 years of contacts where I save tens of thousands on parts every year. I show up to broke down equipment same day or within 24 hours....in comparison of waiting on a dealer tech for up to a week or more. Also, Training isn't free except for the tech receiving it in this particular case. All things considered, me losing other customers and income...............no break.

 

[Vetech63]

If you look close there is antifreeze all over this with a lot of it fried on the engine over time. I was told by the lube truck guy that this has been leaking for 3 months and that he adds to the coolant system several times a week. No call about it at all.

 

[Acoals]

So, my question to you fellas..................if you were me, considering everything involved.........what would you think is a fair rate? I'm billing between $25K-35K a month right now as it is being self-employed.

Keep your assets, keep your independence and keep your 30k a month . . .

 

[Truck Shop]

In my opinion they are winning BIG. I have 40 years of contacts where I save tens of thousands on parts every year. I show up to broke down equipment same day or within 24 hours....in comparison of waiting on a dealer tech for up to a week or more. Also, Training isn't free except for the tech receiving it in this particular case. All things considered, me losing other customers and income...............no break.

Vetech-----this is exactly what happened when I left only slightly reversed. In just less than
a year it has come to dawn on those in power they had it as good as it gets before I retired.
Nothing gets done because of oversite anymore, it's all reactionary. Here's the thing as soon
as you retire that company will go back to doing business as before. Business owners just
don't get there are only a few that can run a shop do the repairs and have complete understanding
of what it takes to keep the ball rolling. Your headache's will increase at a time when age wise
you want them to decrease, because health wise it's not good to take on more the older one
gets.
*
Do yourself a favor--just slid on past this, keep things on the low profile, late in life to take on
stress.

 

[Birken Vogt]

The question I have, if you are retiring soon, what other good alternative would there be to sell off all your assets?

 

[Mobiltech]

Once you sell them your assets I would think your rate would have to drop a fair bit because as an independent your rate covers upkeep and replacement of your service truck and tools.
Selling them your assets puts you in a make or break position. If it goes south in a year you walk away with no tools or truck so I would think that would mean full retirement unless you plan on buying all new tools and truck.

 

[colson04]

The question I have, if you are retiring soon, what other good alternative would there be to sell off all your assets?

It gives him a chance to get a premium buyout on this stuff. Then work a few more years and call it done.

When my uncles closed down their business 20 years ago, they couldn't belive how little they got for all of their assets when they had the big auction. Good tools in very good condition that they paid $1000s for, all sold for pennies on the dollar. All in good, used working order. They had a specialty business, and all the specialty tools to run it. The company (competitor) that "bought them out" only wanted their contracts, and none of their tools or their shop location. The shop brought a good price, but all the physical assets didn't bring much.

 

[Mobiltech]

It would also be interesting to see the income tax breakdown from a small business to an employee situation.
Here we would go from about 13% to 30 % tax bracket as an employee.

 

[Truck Shop]

And as usual , on point, on key, it all goes to talking about money and assets and taxes.
How about looking at the human/health side for a change, can any of you take just ONE
frigging breath without thinking about a dollar bill?

 

[Delmer]

... That machine has over 11K hours, on the original engine and all power train components. Its good life is used up, well past it..........I told him that machine needed to go like I said 2 years ago. Spend 35K+, and then an engine, pump or final drive here soon? Makes no sense to me...

Once it gets the tracks, it will get the engine because it's worth it, then the pumps and finals, and THEN the accountant will decide it's too unreliable so send it to auction.

 

[colson04]

Once it gets the tracks, it will get the engine because it's worth it, then the pumps and finals, and THEN the accountant will decide it's too unreliable so send it to auction.

Sounds about par for the course

 

[Welder Dave]

And as usual , on point, on key, it all goes to talking about money and assets and taxes.
How about looking at the human/health side for a change, can any of you take just ONE
frigging breath without thinking about a dollar bill?

Health issues can come out of nowhere that you have no control over. There's also the mental health aspects to consider. Do you really want to deal with all the stress and BS that isn't going to change overnight or in the next 3 month's. It may be better to keep most of your assets until you're ready to call it quits and then sell them to the company. That way you're more valuable and can get a better price for it. Everybody likes to get the highest prices on stuff they sell.