Any guidance on starting an Electrical Engr Consulting Business

[Aleki_EE]

I am doing some research on what it takes to start a EE consulting business in CA. I found some conflicting information on whether the business can be structured as an LLC. Some sites state that it has to be a corp. True/False?

Just looking for some advice from those that have done/are doing it. If you have any links to some helpful resources that would be great as well. I am at the very preliminary stage of entrepreneurship so any information will help. I read up on some threads so I know I will need some good savings prior to going it alone. I need insurance. What are some of the other things? Is it advisable to get a lawyer to help with structuring the business or if the process pretty straight forward.

Thanks in advance.

 

[itsmoked]

Are you talking California or Canada? Half the time people seem to misrecognize that.

What kind of consultancy? Power? Electronics?

Keith Cress
kcress -

http://www.flaminsystems.com

 

[mudandsnow]

If there are any incubators near you, you should check them out. They can connect you with mentors and investors.

 

[cuky2000]

I guess if the propose tax cut, individual engineers should be thinking how to be incorporated in a LLC to paid only 15% instead 30+%. It is easy to say than do it considering the risk of unstable cashflow and personal relation in the industry.

 

[crshears]

CA: Canada or California? Good question...

True anecdote:

Years ago a Canadian acquaintance [married to a Wisconsin girl] who worked for Sears was promoted from a position in Toronto to one in Chicago. Having to register his Big-Three-branded-but-built-for-Canadian-emissions-standards van in Illinois, and dreading the prospect, he dutifully presented himself at the local licence bureau.

"Where ya movin' from?" asked the clerk, and he said truthfully, "Ontario, Canada." The clerk clicked into the Previous Registration Location box and typed in ONTARIO CA - - and the box was full. The clerk said, "Durn! Now what?"

My acquaintance said disingenuously, "Try hitting Enter and see what happens." Ta-Da! "Ontario, California" flashed briefly before the cursor self-toggled into the New Address box. "Wuhks f' me," said the clerk, and successfully completed all the required data entry.

They drove that van until it dropped.

CR

"As iron sharpens iron, so one person sharpens another." [Proverbs 27:17, NIV]

 

[Aleki_EE]

@ itsmoked, California..lol

Thanks for all the input. I am focused in power. I will definitely look at incubators around me.

 

[crshears]

In Canada or California?

CR

"As iron sharpens iron, so one person sharpens another." [Proverbs 27:17, NIV]

 

[Aleki_EE]

Northern California, USA

 

[jraef]

I tried it, once for a year, my 2 cents worth of advice:
[ol 1]
[li] Have PLENTY of cash reserves before embarking on it. I had one month with $15k in billings (November), followed by another month (December) with $8. IOW it's a roller coaster.[/li]
[li] NEVER discuss your new business finances in detail with your spouse...even if she (he) likes roller coasters.[/li]
[/ol]


"You measure the size of the accomplishment by the obstacles you had to overcome to reach your goals" -- Booker T. Washington

 

[Aleki_EE]

Were you focused in power? What kind of projects did you work on? How did you get your jobs? Did you have an LLC or corp? Sorry it didn't work out. Wish you success in what you are doing now.