I'm a Certified General and Building Contractor in Florida, and I've had a few businesses approach me to qualify under my license. I'm trying to figure out the best way to set this up. For anyone who's done this before, what kind of deal structure did you find most effective—flat fee or a percentage of revenue? How do you ensure the company you're partnering with is solid enough? And what red flags should I be aware of when lending out my license? I'd really appreciate any real-world experiences or advice!
3 Answers
Just be careful—your license is on the line if things go wrong with them. It's a big risk to take.
I’d recommend going for a flat fee arrangement. That way, you’re not tied into any long-term commitments. It’s crucial to really know and trust the builder you’re working with. Also, make sure they go through you for everything and don’t just use your license to pull permits for multiple jobs. It’s a bit tricky, but I’ve had guys help me when I was starting out, and I’d love to help someone in the same boat, as long as it’s the right fit.
I wouldn’t risk my license, especially in Florida where there are many shady contractors. If these businesses are legit, why can’t they just get their own licenses?
Because some people prefer to focus on their craft! Passing the Florida GC exam can be really tough, and many skilled people can’t pass it, even if they know what they’re doing. A good partnership can work well, and lots of major companies operate this way.
Thanks so much!!!