I am currently shadowing an inspector in my immediate area, who has 25 years of experience. I have my NHIE scheduled for Monday morning, so I am JUST getting started. He has been mentioning that he would like me to help him in his business. From the way it sounds, he has double the amount of work than he can handle… I am fortunate that I have been able to hook up with him… But I’m asking if anyone here has any advise for me… I don’t know if I will have to carry insurance, would I be 1099’d? Should I continue on and get my ( or will I need to ) get my bus. License? What percentage do you think I should ask for? He is also looking into what he needs to do, as I am as well… Will it be to seek advice from a lawyer? :D. Thanks!
How long would you be working for him before going out strictly on your own?
He may want you to sign a non-compete clause meaning that you wouldn’t be able to work in a certain area for xxx amount of years after you left him.
Or if he is planning on retiring in a few years and you wanted to use those years to learn from him then that would be beneficial to both of you.
I would still recommend getting any licensing you are required to have because you never know what the future holds for either of you and this way you will be prepared in the case something tragic happened to him.
Thanks Dave, yeah, I had been wondering the same… I don’t know, if he plans on retiring or what. I may want to leave in a few years… Probably would… I have a pretty solid foundation of contacts that will get me going, as I have very flexible schedule at my current job. So I can handle a “slow” start…
I figure that if he would want me to sign a no compete clause, if so, I’ll have to part ways… I don’t think that would be worth it.
Sure, I agree it would be best to be licensed. Maybe I need to wait to find out where he wants to go with this…
As far as insurance, he was looking into upping his insurance to cover me, but that wouldn’t fall under sub contractor guidelines, right?
I’m not sure.
There are some good multi-inspector firms on here that could better answer that question.
If you are just starting out, I started a post in the Inspector Marketing section that can give you a ton of useful information.
My pleasure, Ron.
Glad I could be of some assistance.
Buy him out and make him your inspector.
If he is scheduling the Inspection Times and you will be completing Inspections as if performed for his Corporation, you will have to be a W-2 Employee.
A 1099 will be questionable as well as the Insurance issues not only with Federal Wage Tax but also General Liability as well as E&O.
More information and conversation is required prior to any contractual agreement between the two of you…
I would love to find somebody to mentor, and later take over my business. What I have been getting for candidates this last year is pretty piss poor. I got more work then I can handle, most of the time. Ask Steve Wessler because I worked him hard, but he made good money. Too bad his health is not good enough to come back full time.
Dave, thanks, I agree there needs to be more details… I’m sure he would be handling the schedule, and pretty sure the operations in general. The way I see it so far is that I would perform the inspections and report under my license, but covered under his insurance and given a w-2.
All this being said, I wonder if it would be much simpler if I just followed through on my own and gave him a percentage of his leads…
Ask your CPA which is the best way to go. Call me I was in the similar situation years ago.
Thanks Billy, I will.
Open your own inspection business.
If his first name is Sean, I would stay far away. :p:p
Why give your time and energy to another man to build up his business? You gonna give him your wife to use too?
Your right Nick, I don’t need him. Especially being that my job will allow me to build my business. I need to continue to shadow him, build a relationship and maybe we can continue to work together, but just separately…
When I was young, there were still plenty of “good jobs” where a person could work for a company and make a good living. I remember the days when you could get a job at IBM and be guaranteed employment, not for a month, or a year, but for life. Nowadays, you have to have your own business even to live just comfortably with an occasional luxury.
Nick, I understand and agree… I have thought about it through the night, and I am in a pretty good position. I need his mentoring for the time being, but there is no reason for me to give up 60% or so to him for handling the operations… I’m capable of doing that on my own… Plain and simple I guess… I feel a bit more grounded now, as I just got a little excited… Thanks everyone for your responses…
So many times the agreements in these deals are ambiguous and lead to problems. Whatever you do, get a lawyer and get a signed agreement that spells out the rights and obligations of both parties in detail.
Thanks Mark, I’ve decided that its not needed or worth it for me at this time… So I’m going to avoid that route… The support here is Awesome! Thanks Guys!