What's new
What's new

I guess its time for me to start my own Home shop thread.

umbrella?


, it'll be a joint corp that each of our own individual businesses

two - working under one "umbrella".

My wife's boss (sorta anyhow) is [not] dealing with this currently.
It looked like a good idea at the time, and I am sure that she told him not to - up one side and down the other, but he did it anyway.

Now the partner is a non-producing partner that spends his days in the bar, and still pulls in his share from the kitty.

I am sure that we can all produce WAY more bad outcomes than we will ever come up with good outcomes.

Unless you are broke off your assets and that will otherwise never change on this side of the grave - on your own, yet you have unique abilities and work ethic, and there is some 'nother somebody that won the lotto, and wants to be a silient partner, and you are not expecting anything else from this person (financing only) then maybe.

Otherwise - this is an absolute NO!
You could get blackballed from the site...
Just sayin' ...


----------------------

I am Ox and I approve this here post!
 
two - working under one "umbrella".

My wife's boss (sorta anyhow) is [not] dealing with this currently.
It looked like a good idea at the time, and I am sure that she told him not to - up one side and down the other, but he did it anyway.

Now the partner is a non-producing partner that spends his days in the bar, and still pulls in his share from the kitty.

I am sure that we can all produce WAY more bad outcomes than we will ever come up with good outcomes.

Unless you are broke off your assets and that will otherwise never change on this side of the grave - on your own, yet you have unique abilities and work ethic, and there is some 'nother somebody that won the lotto, and wants to be a silient partner, and you are not expecting anything else from this person (financing only) then maybe.

Otherwise - this is an absolute NO!
You could get blackballed from the site...
Just sayin' ...


----------------------

I am Ox and I approve this here post!
the partnership would be mostly financial from his side. he has product designs that he needs made. he knows how to program/machine somewhat, 3 axis stuff, so he would be doing SOME product design, i'd be programming and machining his stuff, as well as my own designs etc. if thats the way i go. would be no expectation of him running the machine, since it'll be at my house/barn.
 
Friends don't let friends start partnerships :D
Business 101:D
Or siblings...........two of my brothers were in business for years. But one of them always seemed to be doing better than the other. New house, new truck, new camper, new boat.............And when the well to do brother wanted to buy out the other, things were turned ugly right quick..............let's just say the underhanded bro hasn't spoken to most of the family for close to 18 yrs as a way to hide his guilt.......pretty crappy deal all around.
 
It's a "Joint Venture" :smoking:make sure you do all the legal paperwork for the requirements of each businesses liabilities.
:cheers:

yeah don't do a 'partnership'
 
Last edited:
Or siblings...........two of my brothers were in business for years. But one of them always seemed to be doing better than the other. New house, new truck, new camper, new boat.............And when the well to do brother wanted to buy out the other, things were turned ugly right quick..............let's just say the underhanded bro hasn't spoken to most of the family for close to 18 yrs as a way to hide his guilt.......pretty crappy deal all around.
A partnership is bad enough, a partnership with family is just asking when, not if it blows up.

Edit: I asked my brother if we wanted to come work for me, a overpaid employee?
He worked with me back in our early 20's,
He said NO, you work too hard 🤣

I asked my cousin same thing, he had asked my brother apparently, because he said NO, your brother said you work too hard.🤣

Fuqn lazy Americans!
 
Last edited:
ok, riddle me this then.
once i complete these side jobs i'm working on, i should have ~120k cash in my business account, give or take 10k depending on how expenses pan out. this would be a good amount to put down on a pallet machine, or i could buy that standalone Mill E 500 (spoke to my GF sales buddy, he said that machine supposedly had some damage to the c axis, but i dont know for sure)
thing is, the 500 wouldnt fit the parts that i'm looking to make, so i'd need to find work for it, but i'd buy it cash and have very little overhead.

if i use that money to put down on a pallet machine, 700mm, i could start making my own products right away (while keeping my main job), as well as be able to machine my coworker's parts for him. might not be able to cover the full machine payment right off the bat, but i could supplement that with my day job income until i'm break even.

or the other option is keep this cash in the bank, do more side jobs and save up more to either put down a bigger payment on a pallet machine, or enough to buy one outright (wouldnt that be something?)

the problem with the last option is, my day job income is already well into 6 figures, another ~150k or so from the business - i'll get REAMED in taxes. if i buy a machine, i dont pay shit.

what would y'all do?
 
If your confident in your ability to get and keep work!!!!!!!

I personally would open a bank business account, move the funds into the highest yield savings or similar.

Then put the minimum down you can to get the loan, probably 10%, search hi and low for the lowest interest on the loan.

Buy the more capable machine, needed machine, future proof machine.

Now you have a machine, and a backup emergency of funds to keep it a float, keep the day, job run the whole deal until either the business takes too much time,
or fails and you still have you employee job.
 
If your confident in your ability to get and keep work!!!!!!!

I personally would open a bank business account, move the funds into the highest yield savings or similar.

Then put the minimum down you can to get the loan, probably 10%, search hi and low for the lowest interest on the loan.

Buy the more capable machine, needed machine, future proof machine.

Now you have a machine, and a backup emergency of funds to keep it a float, keep the day, job run the whole deal until either the business takes too much time,
or fails and you still have you employee job.
i have a business bank account, business credit card etc.
 
there is another option...
just talked to one of my old bosses, was telling him about starting my own thing, he said he's looking to sell his Mikron Mill E700 with 7 pallet changer/60 tools etc. this is a machine i personally set up, programmed and machined parts on when i worked there. he said he'd also be open to letting me make payments on it. price would be somewhere ~300k.
 
I feel like the root of the problem is that you are asking US what YOU should do with your future.

Seems to me like you should jump in with both feet and give it hell if you know owning a business/self employment is exactly where you belong and you have no other choice.

The fact you've been doing absolutely awesome working for others for a top wage says to me that self employment might be kind of a dumb move for you?

Only you can answer that though.

If you really, really want it and your skills and opportunities only really line up to produce a good income with a 700mm pallet fed 5 axis then fucking send it.
 
I feel like the root of the problem is that you are asking US what YOU should do with your future.

Seems to me like you should jump in with both feet and give it hell if you know owning a business/self employment is exactly where you belong and you have no other choice.

The fact you've been doing absolutely awesome working for others for a top wage says to me that self employment might be kind of a dumb move for you?

Only you can answer that though.

If you really, really want it and your skills and opportunities only really line up to produce a good income with a 700mm pallet fed 5 axis then fucking send it.
just trying to get some perspective so i'm not totally blinded by my dreams, trying to keep myself grounded a bit, ya know?

my motivation for going out on my own is to eventually live a hermit lifestyle where i dont depend on anyone else, work enough to support myself etc. hence the solar power thing.
i'd like to stick around at my day job for another 3-5 years if possible, work my fucking ass off like a donkey for 5 years at both jobs and set myself up to only need to work as much as i want doing my own thing after that.
 
You will always be at someone's mercy.


-------------------

I am Ox and I approve this here post!
to some degree, of course. i'd like to gain as much independence as possible though. like i mentioned in the beginning of this thread, ultimate goal is to move to somewhere like montana or idaho in 5-10 years and live peacefully and quietly in or near the mountains in beautiful nature. and have enough to support a simple lifestyle.
 
ok, riddle me this then.
once i complete these side jobs i'm working on, i should have ~120k cash in my business account, give or take 10k depending on how expenses pan out. this would be a good amount to put down on a pallet machine, or i could buy that standalone Mill E 500 (spoke to my GF sales buddy, he said that machine supposedly had some damage to the c axis, but i dont know for sure)
thing is, the 500 wouldnt fit the parts that i'm looking to make, so i'd need to find work for it, but i'd buy it cash and have very little overhead.

if i use that money to put down on a pallet machine, 700mm, i could start making my own products right away (while keeping my main job), as well as be able to machine my coworker's parts for him. might not be able to cover the full machine payment right off the bat, but i could supplement that with my day job income until i'm break even.

or the other option is keep this cash in the bank, do more side jobs and save up more to either put down a bigger payment on a pallet machine, or enough to buy one outright (wouldnt that be something?)

the problem with the last option is, my day job income is already well into 6 figures, another ~150k or so from the business - i'll get REAMED in taxes. if i buy a machine, i dont pay shit.

what would y'all do?
Also I should add the more standard approach,
That would be put the giant down payment on the machine, there by lowering the interest on the loan, and the loan payment.

This does leave you with near zero money though, but the standard deal is to open a revolving line of credit for emergencies.
In this scenario your out less in interest, and also only sign up for it when you have to.

This is the less costly scenario, but I kinda like rollin with the other way personally.

Pick your politician :D
 
Also I should add the more standard approach,
That would be put the giant down payment on the machine, there by lowering the interest on the loan, and the loan payment.

This does leave you with near zero money though, but the standard deal is to open a revolving line of credit for emergencies.
In this scenario your out less in interest, and also only sign up for it when you have to.

This is the less costly scenario, but I kinda like rollin with the other way personally.

Pick your politician :D
just thought of another idea...
instead of a formal partnership, my buddy/coworker would 'loan' me money to go in on a machine with, i'd be the sole owner and decision maker of the machine, and whatever work he brings in would get charged at an agreed upon hourly rate, that will first go towards repaying the 'loan'. once that amount has been 'repaid', any incoming work from him i'll charge him at whatever other hourly rate we agree upon.

this seems like the least likely way for things to go sour, thoughts?
 








 
Back
Top