So my dad is thinking of retirement....

[tn94z]

TweetMy dad owns his own backhoe and dozer business and has been doing this for years and years. Well, we were talking last night and he says that he is thinking of retiring and working for cash here and there.

I hate to see his business disappear and his equipment gone. Is there any way I could take over this business, have someone run it the equipment (maybe get daddy to do it for cash), and still keep my full time job? I would basically do all the book work, bid the jobs after work, schedule the jobs, maintain the equipment, etc....Is there any way to make that work out?

[hardpr]

Tweetbro no disrespect but i think that could best be answered by your father. seeing as he ran said bizness 4 years.

[tn94z]

TweetWell, the thing is he doesn't know anything about books, taxes, etc....that's the part of the question I am concerned with more than anything. He could tell me about what kind of money it could make, what would be involved with the equipment side, but once it gets further than that, he won't be able to tell me.

But I know what you are saying. And I plan on talking to him about it too. I just like to get quite a few opinions on stuff to make sure all my bases are covered. It never fails that these posts end up bringing up some point that I never thought about. I don't base my decisions on things from a message board on the internet because it all comes down to my choice and the research I have done.

No disrespect taken....just throwing it out there for opinion.

[JsJs24]

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Well, the thing is he doesn't know anything about books, taxes, etc....that's the part of the question I am concerned with more than anything. He could tell me about what kind of money it could make, what would be involved with the equipment side, but once it gets further than that, he won't be able to tell me.

But I know what you are saying. And I plan on talking to him about it too. I just like to get quite a few opinions on stuff to make sure all my bases are covered. It never fails that these posts end up bringing up some point that I never thought about. I don't base my decisions on things from a message board on the internet because it all comes down to my choice and the research I have done.

No disrespect taken....just throwing it out there for opinion.

How did your dad do the financial side of the business? Did he have an accountant for taxes? In my opinion, businesses like that are the most profitable when owner operated. My uncle runs his own business, moving mobile homes and setting them up for people. He also used to run a bulldozer for side jobs, and in both cases it is owner operated. The smaller the business the more beneficial it is to have an owner operator. But that doesn't mean you couldn't pull it off. You should talk it over with your dad. However, if you can't do the taxes and paperwork or run the equipment, then I see a lot of overhead.

[tn94z]

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How did your dad do the financial side of the business? Did he have an accountant for taxes? In my opinion, businesses like that are the most profitable when owner operated. My uncle runs his own business, moving mobile homes and setting them up for people. He also used to run a bulldozer for side jobs, and in both cases it is owner operated. The smaller the business the more beneficial it is to have an owner operator. But that doesn't mean you couldn't pull it off. You should talk it over with your dad. However, if you can't do the taxes and paperwork or run the equipment, then I see a lot of overhead.

Yes. He had an accountant and his GF did some, but that didn't work out well. I can do all the paperwork and bills, etc...Of course I would let an accountant do the taxes just because of the knowledge they would bring to the table to get the best results. I can run any of the equipment as I did that for years when I helped him work while I was in school. But I don't think I would be willing to quit my current job to do it just because of the benefits. I was just thinking if I could run it on the side and stay where I am, then his business would continue on and it might even help him working for a little cash. It's just an idea.

[JsJs24]

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Yes. He had an accountant and his GF did some, but that didn't work out well. I can do all the paperwork and bills, etc...Of course I would let an accountant do the taxes just because of the knowledge they would bring to the table to get the best results. I can run any of the equipment as I did that for years when I helped him work while I was in school. But I don't think I would be willing to quit my current job to do it just because of the benefits. I was just thinking if I could run it on the side and stay where I am, then his business would continue on and it might even help him working for a little cash. It's just an idea.

If you can work part time and hire a solid employee you could trust to work full time then you might pull it off and grow the business enough to eventually full time it.

[bowbow]

TweetHow much do you know about biding jobs? Need a lot of experience in that area almost more than any other. You may be working for nothing or not working at all if done wrong.

[tn94z]

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How much do you know about biding jobs? Need a lot of experience in that area almost more than any other. You may be working for nothing or not working at all if done wrong.

Well, my dad would teach me a lot as far ad that goes. He would probably bid for the most part at the start. My uncle and cousin do the same work and are making 20k per week on one of their contracts!! Now I know that is unusual but there is a ton of money out there in this business