Freelance Electrical Engineering Startup Experiences

[EE2013]

I've been toying with the idea of starting my own electrical consulting company with a focus in commercial retail design.  Based on what I have seen at my current job there is a significant demand for designers/drafters and signers.  

My hesitation is giving up a well paying job and trying to start a family.  My spouse knows this has been my want for several years now but is concerned of the risk.  Anybody had any success with starting their own company?  The loss of the guaranteed income is the hardest part but I feel I have opportunities with the networking I have made to this point.

A little info.. previous vet, 1 year as a laborer, went back to college, 3 years as industrial power consultant (arc flash, power studies, troubleshooting at large plants or distribution facilities, etc) and 2 years MEP/arch for commercial retail where I'm now a signing PE.  

Just would like to see if anybody has any experiences or information I can read other than what's on nerdwallet or a quick Google is giving me.

Thanks

 

[knight1fox3]

[No message]

 

[EE2013]

Thanks for the start!

 

[willsee]

I've been toying with the idea of starting my own electrical consulting company with a focus in commercial retail design.  Based on what I have seen at my current job there is a significant demand for designers/drafters and signers.  

My hesitation is giving up a well paying job and trying to start a family.  My spouse knows this has been my want for several years now but is concerned of the risk.  Anybody had any success with starting their own company?  The loss of the guaranteed income is the hardest part but I feel I have opportunities with the networking I have made to this point.

A little info.. previous vet, 1 year as a laborer, went back to college, 3 years as industrial power consultant (arc flash, power studies, troubleshooting at large plants or distribution facilities, etc) and 2 years MEP/arch for commercial retail where I'm now a signing PE.  

Just would like to see if anybody has any experiences or information I can read other than what's on nerdwallet or a quick Google is giving me.

Thanks

You might get more responses in the General Engineering forum 

What guaranteed income?  You work for an A/E firm where they are trying to make sure their employees mouths are fed but there is no guarantee. 

I worked for an A/E - one job went out the door and *poof* 50% of the engineers were laid off

If you can sell and price work to make money you have just as much of a guarantee then working for someone else.   

 

[Owism]

You might get more responses in the General Engineering forum 

What guaranteed income?  You work for an A/E firm where they are trying to make sure their employees mouths are fed but there is no guarantee. 

I worked for an A/E - one job went out the door and *poof* 50% of the engineers were laid off

If you can sell and price work to make money you have just as much of a guarantee then working for someone else.   

ahhh the gig economy as they call it...