# Second Business



## BamBamm5144 (Jul 12, 2008)

How many guys here have two companies that sort of coincide with each other but not quite.

I assume it's safe to say both businesses are kept completely separate?


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## jb4211 (Jul 13, 2010)

Not me
I'm having a tough enough time running one business.


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## Metro M & L (Jun 3, 2009)

Old saying, 

If you chase two rabbits you won't catch either one.


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## Metro M & L (Jun 3, 2009)

I think having a service business (roofing) and real estate might be a less stressful way to go. Excess profits going into rentals to generate passive income.


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## Builders Inc. (Feb 24, 2015)

I know people that do this. I have a friend who him and his father-in-law are licensed CGC and licensed in roofing, electrical, plumbing. They mostly do remodels but have a separate roofing crew that does roofs also. The son-in-law job site project manages between the two crews and the father-in-law keeps up with the bidding, material ordering, and scheduling. They both became licensed in the recession, so they only know one way... UP! As for separate business EIN #'s I would prefer it that way so if one fails it wont drag into the other, but they have it all under the same company.


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## tedanderson (May 19, 2010)

I run two separate businesses with two separate set of clients. One thing that I learned is that if you have two businesses that are similar and you have a client that patronizes both businesses, they will consider them to be one in the same.

In my other non-contracting business my clients pay a subscription of $100 a month for my services. If I co-mingled the businesses and I had a dissatisfied client, they would consider themselves to be dissatisfied with BOTH companies and never do business with either one again.


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## overanalyze (Dec 28, 2010)

We have an llc company that owns real estate but doesn't perform any services.


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## barry1219 (Oct 8, 2011)

I own a construction company AND a bar.

p.s. I don't drink. ever. I do play a lot of darts though.


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## Metro M & L (Jun 3, 2009)

Whats owning the bar like?


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## moeman (Nov 5, 2010)

I own an insulating business and a carpentry business, completly separate from one another


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## Big Shoe (Jun 16, 2008)

barry1219 said:


> I own a construction company AND a bar.
> 
> p.s. I don't drink. ever. I do play a lot of darts though.


I'll be up your way today. What brands of NA beer do you have.:drink:


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## jb4211 (Jul 13, 2010)

Having a real estate company and a contracting company seems like a good fit.


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## Chris Johnson (Apr 19, 2007)

We have the construction company and also a distribution company, construction is obvious, distribution is material sales only, like a building centre without the store front, and we only do the distribution since we can buy direct from many manufacturers without going thru the middle man or buying group.


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## kiteman (Apr 18, 2012)

Big Shoe said:


> I'll be up your way today. What brands of NA beer do you have.:drink:



Try the new clausthaler amber


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## 480sparky (Feb 1, 2009)

I have a construction tool rental company that specializes in electrical tools. I only have one customer. He's a super-nice guy who pays on time.


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## mako1 (Sep 1, 2013)

480sparky said:


> I have a construction tool rental company that specializes in electrical tools. I only have one customer. He's a super-nice guy who pays on time.


Me too.We even have the same address.


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## CompleteW&D (May 28, 2011)

My partner owns a wholesale molding and custom millwork business and he and I own CWD. The two work very well together. Many of my suppliers who only sell through distribution are set up with the wholesale company. But in essence, I am buying direct because I'm not paying a distribution mark up.

When I need 1 x by's or molding for a project, they are right here for me to grab. The stuff they carry is so far superior to the box stores, it's not even close. Plus, I'm paying wholesale, so my pricing is better than from a box or yard. I don't pay cost for boards or molding, I get charged the same as the trim carpenters or builders that buy here. But, it's still generally better than a box or yard.

Kind of a nice deal really....


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## 480sparky (Feb 1, 2009)

mako1 said:


> Me too.We even have the same address.


Do you sleep with the owners' wife too? :laughing:


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## mako1 (Sep 1, 2013)

Of course .Owning two business is very stressful.


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## SamM (Dec 13, 2009)

I've often though about running a second business. It's not uncommon for contractors around here to have two businesses. Most common is farmer, then plow company, and a couple home inspectors. My old boss does embroidery. Has a bunch of machines in a separate part of the shop for that.


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## barry1219 (Oct 8, 2011)

Owning a bar is a trip. Parents owned one since I was 9. So many interesting people I have met and been exposed to. My wife is really the boss. Bartending for 20 years will do that. I run darts and anything having to do with fixing something or improving something. 
Not too much in the NA dept. the usual stuff. Full liquor license.


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## carzie (May 21, 2013)

CompleteW&D said:


> My partner owns a wholesale molding and custom millwork business and he and I own CWD. The two work very well together. Many of my suppliers who only sell through distribution are set up with the wholesale company. But in essence, I am buying direct because I'm not paying a distribution mark up.
> 
> When I need 1 x by's or molding for a project, they are right here for me to grab. The stuff they carry is so far superior to the box stores, it's not even close. Plus, I'm paying wholesale, so my pricing is better than from a box or yard. I don't pay cost for boards or molding, I get charged the same as the trim carpenters or builders that buy here. But, it's still generally better than a box or yard.
> 
> Kind of a nice deal really....


A little off topic as I only own one biz but the big box stores thing caught my eye.

I recently did an exterior and along the way found some rot in the trim around the windows. Mainly the top 1x6" pine across the top with a little molding to boot. Not the fault of the pine or previous painter but the siding job was done 3rd rate with the j molding not being done proper.

Anyways closest store was HD and got deer in headlights look when I asked for MDF exterior grade 1'x anything 5' or above. Needless to say I said adios and moved on another 30 minutes to my non big box store.

They had exactly what I needed right down to the profile of the molding. If they don't have it they can mill it for you.

Lesson learned, unless I need a box of nails or screws I will never set foot in another mega store again. My lumber yard from now on is, yes I will promote it, is Peacock Lumber in Oshawa


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## FrankSmith (Feb 21, 2013)

I have my construction business and a rental business. I focus on growing the rental business to eliminate the need for construction revenue. I will probably still do it but it will feel better if I know I don't have to.


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## Metro M & L (Jun 3, 2009)

Exterior grade mdf?


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## carzie (May 21, 2013)

Metro M & L said:


> Exterior grade mdf?


Maybe it's new in the USA?


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## Rhode Island (Mar 24, 2015)

I do the contractor thing and I also own laundromats.....go figure


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## aaron_a (Dec 18, 2013)

Metro M & L said:


> Exterior grade mdf?


Im guessing that would be something like miratec?


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## CompleteW&D (May 28, 2011)

Yeah.... I'll bet he was talking about a composite. Can't see using any MDF outside. :blink:


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## carzie (May 21, 2013)

When I was in the process of trying to nail down where I could locate that particular profile for the molding I showed a picture of it to a carpenter friend, he suggested using "exterior grade mdf" he might of given a name of it but I can't recall. 

I just pulled the receipt, it is called Extira, forgive my inexperience in the products. It does however look like MDF but cuts a lot harder. Thanks for the correction everyone. 

Sorry about getting off topic as well, I tend to ramble on when I get an idea in my head. That idea was the fact I like dealing with independent lumber yards instead of the big boys. Thanks.


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## Big Shoe (Jun 16, 2008)

kiteman said:


> Try the new clausthaler amber


:thumbsup:


That is my favorite...............Kaliber by Guinness is pretty good too. 

O'douls most of the time. I've tried them all. :drink::drink::drink:


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## BeenAround (Sep 8, 2015)

I used to be a somewhat substantial electrical contractor. I opened a second business doing installations of low voltage systems, primarily fire alarm, clock & bell and nurse call systems. I also started a fun little biz called BSI (Bull **** Incorporated) which performed all the stupid little tasks that drive contractors crazy and can hold up final inspections. We provided services as mundane as blue-print plotting and reproduction (because I already had an engineering sized plotter), cutting keys (since we already had a key duplication machine) Brass tags and phenolic labels, (since we already had the software and equipment to produce these items), Drill bit sharpening,(since we already had the equipment to sharpen our own bits). The industrial complex where I officed was full of contractors, so it was very convenient for my clients since most of them were right in my building complex. The idea was to defray the cost of these pieces of equipment that I had acquired in order to make my own jobs run more smoothly. My warehouse manager split his time between all three businesses and it worked great, but there's nothing easy about running one business, let alone three. Take on as much as you feel comfortable with, but no more than that! I closed it all down due to sheer exhaustion!


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