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Who pays the rent? Who pays the electric? Who pays for security? Who pays liability insurance? etc etc etc. If businesses are so profitable, why are business failure rates so high?
Been getting paid very very well since 1912.....
Not to mention a 1.5x markup on + $50.00 parts and a 3.0x -$50.00.
Not to mention a 1.5x markup on + $50.00 parts and a 3.0x -$50.00.
They ain't hurting.
Start up businesses in this country fail at over a 50% rate. If your business fails, you're hurting. Now perhaps you are working for a company that has a long history and growth in their industry, but try starting your own business in the same industry and see if it's as profitable for you as you think it is.
Like I said earlier in the thread.......retail is ecstatic to make 30% on their investment.....
Do the math there....
Hint; it's over 50%.
That wasn't what I asked you.
I asked you if you think the difference between a business billing out a contracted employee (I think that is what you meant) at $85/hr while the contracted employee is making $17.50/hr ends up being pure profit for the business.
I asked you if you think the difference between a business billing out a contracted employee (I think that is what you meant) at $85/hr while the contracted employee is making $17.50/hr ends up being pure profit for the business.
Considering they should be paying him $20-$25 an hour....yeah it is very profitable. No insurance either, they do not provide it. He has to have Obamacare. Vehicles are all paid for as well as the building. The guy is getting taken to the cleaners by the greedy bastards.
Quote:
Originally Posted by freightshaker
Start up businesses in this country fail at over a 50% rate. If your business fails, you're hurting. Now perhaps you are working for a company that has a long history and growth in their industry, but try starting your own business in the same industry and see if it's as profitable for you as you think it is.
It's a friend of mine. I feel sorry for the guy.
It would be more profitable.......$140 an hour is pretty standard and they charge way more for sales markup on parts.
Considering they should be paying him $20-$25 an hour....yeah it is very profitable. No insurance either, they do not provide it. He has to have Obamacare. Vehicles are all paid for as well as the building. The guy is getting taken to the cleaners by the greedy bastards.
It's a friend of mine. I feel sorry for the guy.
It would be more profitable.......$140 an hour is pretty standard and they charge way more for sales markup on parts.
I keep telling him that, but you know how stubborn country boys are. I think it's more a challenge to not quit and see how much he can take than anything else. It frustrates the hell out of his boss. No matter how rotten...he's still there everyday.
My math isn't the best but that looks like about 83-84%......
Poor poor business owners.....
If you want to be a poor, poor business owner - ante up.
Take the risk, invest in yourself and work 60-80 hours a week in the business you own until you don't have to 20 or 30 years from now because when it's YOUR MONEY…you're going to watch it, lose sleep over it, take time away from your family, stress out over it.
It's so much easier to be an employee of and complain about the poor, poor, business owner than to be the poor, poor, business owner.
If you want to be a poor, poor business owner - ante up.
Take the risk, invest in yourself and work 60-80 hours a week in the business you own until you don't have to 20 or 30 years from now because when it's YOUR MONEY…you're going to watch it, lose sleep over it, take time away from your family, stress out over it.
It's so much easier to be an employee of and complain about the poor, poor, business owner than to be the poor, poor, business owner.
Yeah, people have no idea the hours you put in. Especially in the first 5 years. I know profit for me was non existent for about a year and a half, but perseverance and basically being hard headed prevailed.
If you want to be a poor, poor business owner - ante up.
Take the risk, invest in yourself and work 60-80 hours a week in the business you own until you don't have to 20 or 30 years from now because when it's YOUR MONEY…you're going to watch it, lose sleep over it, take time away from your family, stress out over it.
It's so much easier to be an employee of and complain about the poor, poor, business owner than to be the poor, poor, business owner.
Considering they should be paying him $20-$25 an hour....yeah it is very profitable. No insurance either, they do not provide it. He has to have Obamacare. Vehicles are all paid for as well as the building. The guy is getting taken to the cleaners by the greedy bastards.
It's a friend of mine. I feel sorry for the guy.
It would be more profitable.......$140 an hour is pretty standard and they charge way more for sales markup on parts.
Who doesn't have to have Obamacare?
How does your "friend" know what he's billed out for?
I worked for an IT company as a recruiter and our consultants NEVER knew what their billing rate was.
Your friend isn't getting taken to the cleaners - he's not forced to work for the company he does.
He can 1099 himself or find another "business" to contract himself out with.
If he wants to be an idiot and work for less than he really is worth, that's his problem.
If his skill set is worth his hourly rate, doesn't matter what amount of $$ he's being billed out for.
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