One-man shops

Ken C.

the biggest concern I have is, what will happen if I get hurt and can't work for several months? If you have employees, they can do the physical work while you recuperate, but you've got no one to rely on if you're self employed. Has this situation ever happened to any of you one-man shops (or people you know who are one-man shops), and how did you handle it?

Bill NTSG

You gotta

stay healthy . And it helps if your spouse pulls in a decent check.

You can buy insurance. I did , AFTER I was out for 5 weeks w/o pay due to emergency surgery. On the other hand you could get laid off tomorrow from your present job. What if..., go ahead take a chance.

Dave Yates (PAH)

Sure did - in the sixth month!

But I had disability insurance for the torn ligaments.

Then, one year later I developed Hepatitus A. (If it weren't for bad luck.......)

Once again - disability insurance kicked in.

Going it alone isn't a cake-walk, but I had other one-man-band friends who helped take care of my customers during recouperation.

By the time I had spinal meningitis, I was no longer a one-man-band and the employees stepped up to take care of business. Once again, disability insurance eased the financial burden.

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ernie_3

I just began my fifth

year as a one man mechanical shop. I've done this w/o disability ins. Although I've been healthy and injury free, I wouldn't recommend going w/o some type of supplemental ins. The decision to step off that 'cliff of security' into the realm of self-employment is purely personal. Draw a fulcrum and list pros and cons. Take inventory of your strengths and weaknesses and be honest.
Take a good look in the mirror cuz' that's your security.
The big guy upstairs has been good to me. But I'm a motivated guy. I've seen several people fail in their first three years. A truck and tools does not a business make. Scheduling and adhering to it is huge. Define, hone,
take stock in yourself and decide for yourself. Read Napoleon Hills book "Think and Grow Rich". Plan, plan, plan
then write a business plan. One last thing.....Aim as high as you can reach you frequently get what ask for.

ScottMP

definatly

disabilty insurance.

Its a piece of mind that helps oyu sleep at night. There's enough to worry about, believe me .

Take the advice above, and good luck.

Scott

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Nick Z._2

One man

Wouldn't be without dis. ins. But make sure you know what you're buying.I've had 3 major surgerys in the last 4yrs and found out most diss. don't kick in for 6 weeks.
If anyone knows of any that will start imm.I like to know.

Ken C.

I though disability insurance ...

... didn't kick in until you are out of work for at least six months? My state has temporary disability insurance (TDI), which covers you from one week to six months, but this is for employees, I'm not sure if somebody self-employed can get state TDI. That's also a good idea to have other one-man-bands cover for you if you're on the DL. A guy I used to work with covered for a friend of his who became very ill.

Ken C.

I thought most disability policies...

... had a six MONTH wait?

Weezbo

I been sick for over a Week!

went drs..yesterday got someZithromax...I hope it works...so much to do...and the guys have chosen not to answer the phone or call to let me brow beat them:(