I know i need to set up a LLC and get insurance. I'm wondering how the bidding process works on new construction. I have a builder lined up who will give me work. Do I bid the job and then when the bid is accepted do i then have him sign a contract, and then when the job is done I give him a invoice? Is this the correct process and where can i get professional looking bid forms and contracts? I do not have the money at the moment to hire a lawyer.

I would have to say sorry, but I dont think your ready to start your own business based on your post. maybe look into some classes at your local community college or tech and then think about starting up.

What part of that post makes you think that!
I may not be a knowlegable on the buisness side of things yet, but i have been working in my field for ten years and do high quality work.

And i didn't ask for opinions on if I was ready in the first place!!

From personal experience the best bid forms you can find are the ones you make yourself since your the one that's bidding the project.

And you may be better off finding a partner if you don't know how to run the "business" side of things.

No one wants to knock you down, but if you have a job now continue learning about the buisiness side of things and start saving up a cash reserve before striking out on your own. It won't take you long to learn enough to get you started if you really apply yourself. Start talking to people who run a buisiness and asking questions. Good luck I hope your new buisiness is a success.

I wasnt slamming you by any means, it just sounds like you have no experience in the business side of what you do. You will end up in serious financial trouble if you dont know what you are doing business wise and I wouldnt wish that upon you. Look at St Paul Tech, you should be able to find business classes there relating to your field.

what is your time frame of setting up this business? i am graduating in may from st thomas with a double major in finance and accounting. i'm hopefully looking to team up with entrepreneurs for starting businesses. with accounting and finance backgrounds, i have a strong background in a lot of areas and am looking for business ideas/avenues to get involved in

I,m sorry, i should have responded differently. You are probably correct but I will have to attend the school of hard knocks. I highly doubt that the very many people in the construction field have gone to school for buisness.

Beginning of January 2010

I will give you this little bit of advice, take it for what its worth, if you don't know the business side of it, hire people that do - a good accountant, etc.......

Good Luck! Entrepreneurs drive America's economy. More power to you!

you said you dont have enuff money to hire a lawyer
sounds like you might be a little short of money
the above info is good
call the small business [PoorWordUsage] in your area
you can go to a college close to you
they wil help you with a business plan
cash flow ...taxes..incorpating or not etc..etc..
cash flow is important
if you dont have money for a lawyer i'd say you are little short on cash flow
what will you do for money between bidding work and finishing
thats part of the bidding process you do so much then get a draw or a payment for materials...gas.etc etc
theres alittle more to it than just biding work
office max or just bout any big box store will have bid sheets
bills reciepts tax forms..etc
its a good idea but take your time and do it right
i recently ran a business for a guy and we did over million dollars of work a yr but he didnt have 2 nickels to rub together
lots reason's for that but one was poor money mangagment
remember 3 out of 4 small business fail
best bet is talk to SBA lots of free help there

From someone who has been though all this "fun" before, I agree with the previous posts.

Just as the homeowners could do the projects, they instead trust people like you to provide them with a quality product, and that is why they are paying you for your services.

Now you could run the “paperwork” yourself and more than likely it would end up like many homeowners DIY projects. Some so bad the professionals won’t even touch, (this is not a dig on you… cause darn it Jim you are a carpenter not an accountant) Or you can get the professionals to come in and do it right. Just as you understand the importance of quality carpentry work and what doing it right the first time can save a person in the long run, the lawyers, accountants, and auditors also understand the importance of quality “paperwork”

Get it set up right by people who know and most of all who you trust. Make sure you check and double check those people you trust with independent auditors that you can trust. It seems like a big investment now but the costs of not doing it right are much more than the small investment up front.

Good luck on your new endeavors, It is allot of hard work, nail biting, and stress that you have to look forward too, followed by the great feeling that you can make it on your own.

One thing you didn't mention, a license. If you do business in Minnesota biding and subbing out contract work you will need a "builders license". There are courses at tech colleges and private schools that will get you started on education for the basics of the business end, and you will be required to supply proof of insurance and pass a exam before you are issued the license. It takes a little to get the license and become a general contractor, just take the right direction.

Will you use a computer to do your competitive bidding or use a set of forms?

I will only be subbing work from a General. He is supplying all the material I am only supplying labor. As far a bidding I will taking measurements of the print the old fashioned way. I will take the contractors class and test after i get a couple jobs done in order to expand my buisness to remodeling and storm repair. Right know I currently work for a company full time and do not have time to take the classes.

do you work for this contractor now ???