In this episode of the Small Business Mentor podcast, Alan Pentz is joined by Sam Bacon, President of Green Circle Demolition. Join them as they explore entrepreneurship in the construction industry, digging into the pros and cons of joining group captives, what limited partner investing is really like, and how to manage inconsistent and unsteady revenue streams and contracts.
Having learned the business from a former demolition owner, he expanded Green Circle’s verticals within the core demolition service offerings. Green Circle is now a premier demolition and environmental contractor committed to maximizing client value by providing professional, affordable solutions to specific customer needs. Sam is also a Board Member of the National Demolition Association, representing over 1,000 U.S. and Canadian companies offering demolition and related services and products.
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Quotes:
- "Essentially, [ a captive is] a nice way for you, as a business owner, to put away a few hundred thousand to a few million dollars a year that has the potential to come back to you half a decade later. And it's something you're paying for anyway, so you're deducting it 100% on the front end, and then you're bringing it back at capital gains rates 5 to 7 years later when those policy periods are closed".
- "I don't want to be able to go out and buy a car or buy I. I want it gone. I want it away from my greedy hands that might spend it on something”.
- "It is very cowboy, man, 100%. I mean, it's just you’ve got to buckle up because you don't know what you're getting. There's nothing consistent".
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