How Do You Get
Those Big City Contracts 1? |
The first thing you want to ask
yourself is Do you want to work for the city"?
I know they don't pay on time. Actually, That's only about 75% true. The reason why they
don't pay on time is because we don't operate our business like a business, and I'm going
to try to tell you how to do that.
Please keep in mind that I am writing this from N.Y. City, and the rules and regulations
set forth by the municipalities vary from state to state. So, if you're in Alaska, there
may be no "Dept of Buildings". This is something you would have to check out on
your own, I have provided several links where you can actually visit the municipalities
web sites, and I have provided phone numbers of where to be placed on pre-qualified
business list. (See Top of page For links)
The First Thing You need to do is to make sure you are licensed to do the work
that you say you do. In other words YOU MUST BE LICENSED! you must have all of your
insurance's in place. The minimum requirement for these agencies is $1,000,000. We also
provide you with links to several insurance companies that we have used in the past.
The next thing you need to know is if you are
capable of receiving a bid bond, or a performance bond. Most jobs over $100,000 require
this. If you stay under $50,000, a performance bond isn't required, but a bid bond is, or,
a certified check in the amount of 2-5 % of the bid price. That means that if you are
bidding on 1 job a day at 50k, you would have to have at least 25k a week in certified
checks. If you can afford that, you don't need to do any work for anybody! Now, if you get
a bid bond, it will cost you $200 a year (price varies from state to state) for as many
bid bonds as you require for the year.
This is the way to go when your accountant
prepares your financial statement, if it's anywhere half way decent, you should be able to
get a line for your bidding (bid line). Now that you have all of your licenses,
insurance's, and your bonding capability, lets get out and get some work!
Visit this site, and subscribe to this paper (The City Record). All city,
state, federal and municipalities are listed. Jobs can run from $100 to $100,000,000.
Start off small, get your feet wet, and let me know how you make out.
Lets talk about getting on some pre-qualification lists...Visit these sites, call these
people and let me know how you make out. Click on top of page for city links
Upcoming issues to follow, so bookmark this
site and check back soon! |