I get asked about this every week, so here's my list from 25 years, the last 14 running my own company:
- Get your license first. As I understand NJ's rules, registering as a home improvement contractor is not the same as holding a trade license, and it doesn't let you do licensed work. Check with Consumer Affairs.
- Insurance will cost more than you think, and you need it before your first job, not after.
- Price for callbacks. If you don't, every callback comes out of your pocket.
- Your first truck doesn't need to be new. It needs to start every morning in January.
- Keep your books from day one, or pay someone who will.
- Most new owners undercharge for the first two years. I did.
Ask questions below, I'll answer what I can.
HVAC contractor, owner · 25 years · Middlesex County, NJ
Mentor
On the first point, since it comes up every time, the short answer as I understand it:
- Home improvement registration is for general home improvement work
- HVACR work needs the HVACR license (or working under someone who has it)
- Check with Consumer Affairs for your situation; don't take a contractor's word for legal stuff, including mine
Master Plumber, second-generation shop owner · 23 years · Hudson County, NJ
Mentor
And if you're taking over a family shop instead of starting one, it's all the same plus your father second-guessing every price you quote. Ask me how that's going.
Mechanical contractor (HVAC + plumbing) · 24 years · Burlington County, NJ
Mentor
I'd add: decide early whether you want public work. Prevailing-wage jobs mean certified payroll and a lot of paperwork, at least on every one we've done. Good money, different business.