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re: Anyone here have experience with their own construction company?

Posted on 2/14/23 at 4:33 pm to
Posted by diat150
Louisiana
Member since Jun 2005
43746 posts
Posted on 2/14/23 at 4:33 pm to
quote:

Got a good opportunity here to contract myself and maybe two or three guys for an industrial construction project.

Title kind of explains, just looking for anyone here that has or has had their own industrial construction company? How much insurance was required? what all was needed besides LLC and insurance? Would it better to 1099 the few guys or list them as employees for said company?




alot of that will be dependent on what your msa states.

Find yourself a good insurance guy, a good cpa, and a good lawyer that is familiar with the industry you work in. Those are the three most important people to the success of your company in the industrial space besides yourself. The cpa and lawyer help you structure the company properly. The lawyer and the insurance guy look at msa's and make sure you have the proper coverage and that the terms of the msa are not overly favorable to the customer and screw you. Then you can also look at contracting a safety guy. Just depends on the types of companies you are doing work for but some may require safety training or some type of safety program... which of course would be in the msa.
This post was edited on 2/14/23 at 4:38 pm
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