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petropumpguy
2 Posts |
 Posted - 07/15/2012 : 10:32:01
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I am thinking of going out on my own. If you have taken this leap what advice do you have? How much should I expect to spend on stock, vehicle, insurance, misc expenses? What software do you use, have you tried: Ring it up, Selbuk, or any other app type software that offers mobil device use, billing, and inventory? How did you secure vendors to supply you with parts? Do you have ASC status with any of the big suppliers, especially Verifone? If not how do you handle the issues that arise that require Verifone involvement?
I would appreciate any emails or posts that you can send to help me research this issue as I would like to hear from people that have blazed the trail before me.
Thanks
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ZMiller
USA
1317 Posts |
Posted - 07/15/2012 : 18:04:28
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What part of the world are you doing your research in? Your in the right place to ask those questions but one would be lead to think you need to see a psychiatris first. This business is like any other service business. You start out doing the simple stuff first and finding a nitch. Your better off starting out with partners and if your business mind is sharper you squeeze them out keeping the gravy for yourself. You have enough money saved to operate at a loss for a year. You make it that long you will be OK if you haven't blown anthing up.
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There are two theories to arguing with a woman:...neither work!
“It's so simple to be wise. Just think of something really stupid to say and then don't say it.”
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ZMiller
USA
1317 Posts |
Posted - 07/16/2012 : 07:44:43
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| Then you have been around for a while. Might be interesting then. Are you thinking of being your own boss or is there someone at home going to be keeping the books? |
There are two theories to arguing with a woman:...neither work!
“It's so simple to be wise. Just think of something really stupid to say and then don't say it.”
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petropumpguy
2 Posts |
Posted - 07/16/2012 : 09:46:18
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Northern Indiana and southern Michigan.
It would be just me, I am looking at software that allows remote access via an app. That way I can keep track of it in real time even from the field. I would also have inventory levels and other info at a glance. Still looking for the right software, but there are some cheap options I have found for a very small business application.
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hardworking
USA
506 Posts |
Posted - 07/17/2012 : 11:15:59
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Just curious, where do you think your customer base is coming from? Do you think these existing customers will follow you? (I'm just asking). What if your old employer decides to fight to keep the customer?
Do you have a plan to market yourself?
I've not tried the petroleum equipment service business, but I would think it would not be hard to run up a $30,000 to $50,000 in required credit between stock, accounts payable, accounts receivable, and general overhead. I'm not saying you need to have that money laying around (although it would help) I'm just saying you need to be able to service that debt when necessary.
Are you going to be able to keep your certifications valid? |
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fatboy
USA
1360 Posts |
Posted - 07/18/2012 : 05:54:09
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quote:
Originally posted by ZMiller
What part of the world are you doing your research in? Your in the right place to ask those questions but one would be lead to think you need to see a psychiatris first. This business is like any other service business. You start out doing the simple stuff first and finding a nitch. Your better off starting out with partners and if your business mind is sharper you squeeze them out keeping the gravy for yourself. You have enough money saved to operate at a loss for a year. You make it that long you will be OK if you haven't blown anthing up.
 .................................Good Luck, petropumpguy. |
.......... Jumpin' Jack Flash, It's a gas! Gas! Gas! ------The Rolling Stones |
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Kperlow
USA
2711 Posts |
Posted - 07/20/2012 : 19:17:33
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| Petro... I was on my own for 2 years and I will NEVER do it again. Luckily I was able to merge with another small business and save my sanity and my home life. As an independant you can almost count on not having manufacturer support on anything and not having the ability to get training. In my area if you touch anything under the dispenser you need to have pollution insurance as well as at least a million in liability. Oh then there is the vehicle maintenance, gas, insurance etc...... It goes on and on. Yes those 2 years were the most profitable of my life but when you are doing calls 10-12 hours a day then doing your billing every night (yes you need to do it daily to keep cash flow up) it leaves very little time for family life. Be prepared to get calls that are not emergencies at 2 in the morning and be prepared to negotiate every invoice you write because it is "TOO MUCH $". You can also never take a vacation because the week you are gone someone $5 cheaper and hour will take your customer. I do wish you luck but it is a road I will never go down again. |
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Glenn Farmer
USA
308 Posts |
Posted - 07/20/2012 : 22:30:23
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| Petro - What you are wanting do is what has built our country. More power to you and God Bless. I am one that has always been just too damn scared to take off out on my own. I wish you the best and I hope you beat the odds and kick it's ass. |
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ZMiller
USA
1317 Posts |
Posted - 07/21/2012 : 10:40:38
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| But then it really is "Who you know" when going it alone. I was motivated by people saying it couldn't be done. In the begining you treat your customers like family you will in most cases be successful. Find your nitch, be honest and good at what your doing you can't be anything but happy. By the words of Henry Ford though remember "most overnight successes take a life time" |
There are two theories to arguing with a woman:...neither work!
“It's so simple to be wise. Just think of something really stupid to say and then don't say it.”
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podczaski
507 Posts |
Posted - 07/26/2012 : 09:20:10
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I have been tempted but never tried....auto mechanic..90.00 hr....copy machine technician 90.00....petro tech ? negotiate with somebody that is used to doing business in a bazaar...priceless....warranty mfr. says you want how much? (right now I am playing the world's smallest violin..lol..)
Seriously though, it has always befuddled me how a job seemingly as important as ours, gets treated like crap most of the time. |
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jgar477
USA
241 Posts |
Posted - 07/29/2012 : 21:32:23
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quote:
Originally posted by podczaski
Seriously though, it has always befuddled me how a job seemingly as important as ours, gets treated like crap most of the time.
You're right about that. What puzzles me though is how and why we put up with it. |
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Petrotech
USA
100 Posts |
Posted - 08/20/2012 : 22:08:03
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| Some people like to use the same mechanic no matter what the situation. Problem is as you know distributorship, training, cashflow, time management and the list goes on and on. Depends on how bad you want it and how much your willing to throw at it. Money talks. Start out using a pen and paper if you want. A reliable cell phone is a plus. You can get most of your parts from Source N.A., after shipping costs your margin will be slim to none but....You can probably make up for it by lowering your rate... but if you do that, in the long run your equipment will suffer because the bills come first. If you're serious, add something to your petroleum svc. that your competition doesn't do. It'll take a while but it's doable. I've been on my own for 10 years now, If I had it all to over again... I'd buy a bar. LOL |
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ontrak
USA
6 Posts |
Posted - 08/22/2012 : 17:11:06
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| ontrak software provides software for petroleum equipment distributors, wholesalers and vars, with a service module as an option. our software is web based, so mobile devices work well...all you need is an internet connection. if you want to know more let me know. bharris@ontrak.com 843-230-6197 |
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ImJG24Fan
USA
12 Posts |
Posted - 08/28/2012 : 11:54:24
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WARNING - one long post!
For me, being laid off was my "gotta-do-it" moment. I started my business about a year & a half back. It has been challenging, sure. Fun, well, yeah. We're making it; probably wouldn't have if not for aggressive saving in the years prior to layoff.
Around 1997, I began writing a dBaseIII+ program (yeah, really!) and suddenly had time to refine and apply it. I have since migrated to an upper-end accounting program - just can't beat the analysis tools! I still use my program; it isn't useless, yet. But ... I have not found a "fits-all" app for our industry.
* stuff learned along the way:
1> Have savings (or a backup plan) available.
2> Market yourself and your skills - don't overestimate yourself and you should be okay.
3> Customers pay the bills. Unless your employer has that no-compete clause ... use the resources you have available.
4> Be realistic ... competition is out there and it's a tough start.
5> Listen to every piece of advice you're offered, as if it were "the" secret of life - then apply with extreme caution.
6> Find your niche and fill it - sometimes necessity is not a bad thing.
7> Give your customers something better than what they have - "WOW!" them .. give them a reason to call you.
8> Sometimes ya gotta spend it to make it - but spend wisely. You'll find that stocking a service vehicle "from jump street" is not necessary. Honestly, how many parts do you expect to change in your first month? two?
9> If it's "work" ... you have the wrong job.
petropumpguy <- Good luck! |
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hardworking
USA
506 Posts |
Posted - 04/09/2013 : 13:30:34
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How about an update? Did you do it? If so, how's it going?
I hope you are too busy in your business to see this post and respond. |
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1onemarty
USA
216 Posts |
Posted - 04/21/2013 : 15:32:00
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I worked for the ASC companies for 20 years and have been doing it on my own for the last 2 years. Best decision I ever made in my life. I get a lot of parts on line and still get some parts from the local companies. As far as tech support goes, don't need it. Have lots of friends in the business for software and occaisional pow wows. I am under no pressure and I love that. If it is something exspensive I just have the customer purchase it on their credit cards and I do the work. I explained to numerous customers when I first started out on my own that I am cheap labor but parts still cost an arm and a leg. Spend quite a bit of time researching cheap parts outlets early on but am well connected now. I at first touched base with Wayne, Gilbarco, Veeder root and was told they don't need anymore ASC's out here. I pretty much took the attitude, don't really need them. Haven't been happier.. Good luck petropumpguy. I always give them an honest decent deal and can undercut any company and the customers just come knocking. Once you get known your name will get passed around. About half of my customer base right now is from word of mouth..quote:
Originally posted by petropumpguy
I am thinking of going out on my own. If you have taken this leap what advice do you have? How much should I expect to spend on stock, vehicle, insurance, misc expenses? What software do you use, have you tried: Ring it up, Selbuk, or any other app type software that offers mobil device use, billing, and inventory? How did you secure vendors to supply you with parts? Do you have ASC status with any of the big suppliers, especially Verifone? If not how do you handle the issues that arise that require Verifone involvement?
I would appreciate any emails or posts that you can send to help me research this issue as I would like to hear from people that have blazed the trail before me.
Thanks
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