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  • What are the costs of running a business.

    Ok, I am a one man shop. I was contracting for 10 years. The last five years I was in the Air Force. I was injured and put on orders for medical boards. Now I would like to do some contracting, on a part time basis. I have always kind of guessed at pricing. I have done time and materials and bid or flat rate pricing. I would like to get more into drain cleaning so I don't have to buy and stock so much material. I don't have much of a customer base at this time. I work form my home. My license and bond are still active. Thanks David

  • #2
    Re: What are the costs of running a business.

    My little One Man Band Runs about $150.00 Per day(5 day week) In The tampa Bay Area ....

    Dave

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    • #3
      Re: What are the costs of running a business.

      Originally posted by NoeEttica View Post
      My little One Man Band Runs about $150.00 Per day(5 day week) In The tampa Bay Area ....

      Dave

      Hi Dave, could you give me a break down of how you arrived at $150.- dollars a day ? Thanks david.

      Comment


      • #4
        Re: What are the costs of running a business.

        Originally posted by Big Jim
        What are the costs of running your business?
        Only you can answer that question.
        It depends on many things.
        Your geographical area, your cost of operating your
        equipment and vehicles, the costs of maintaining your
        license and insurance. It varies from person to person.
        There are many excellent tradesmen that are not so good
        businessmen. They make the mistake of basing their rates
        on what the other guy is charging. Doing the actual
        physical work is the hard part of plumbing. The business side
        is really about not falling prey to fear, ego, and denial
        when it comes to calculating the true cost of doing business.
        The important thing is for you to honestly identify your
        operating and overhead costs and then charge enough to
        provide excellent service and to compensate yourself
        for the risks and effort that it takes to do that.

        Thanks Big Jim.

        Comment


        • #5
          Re: What are the costs of running a business.

          I will take a stab at my business expenses.

          Feel free to add any items if you like. David

          1] License Bond Liability Insurance
          2] Work Van upkeep and replacement.
          3] Equipment upkeep,maintenance,and replacement
          4] cables and cutters and gloves for drain cleaning
          5] Advertising, invoice, business cards,stickers magnets etc.
          6] Book keeping accountant.
          7] office supplies computer phone cell phones
          8]Sep Ira contributions investments.
          9] paying myself a decent wage.
          10] Health insurance dental.
          11] professional trade associations Phcc, seminars, training.
          12] Setting aside taxes.
          13] uniform purchase,maintains or rental.
          14] Disposable shop items rags etc.
          15] Lost or stolen tools.
          16] Business license.

          Comment


          • #6
            Re: What are the costs of running a business.

            Originally posted by NoeEttica View Post
            My little One Man Band Runs about $150.00 Per day(5 day week) In The tampa Bay Area ....

            Dave
            I wouldn't bother getting out of bed for $150.00 a day for even seven days a week.


            Tony

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            • #7
              Re: What are the costs of running a business.

              Originally posted by AFM View Post
              I wouldn't bother getting out of bed for $150.00 a day for even seven days a week.


              Tony
              i think he meant his expenses were that figure not what he makes a day

              steve
              In the never ending struggle to keep the water flowing.... The Poo Poo Cowboy rides again!!!

              Comment


              • #8
                Re: What are the costs of running a business.

                Originally posted by stxrus View Post
                i think he meant his expenses were that figure not what he makes a day

                steve
                Then how do you explain:
                9] paying myself a decent wage.

                Comment


                • #9
                  Re: What are the costs of running a business.

                  Originally posted by Plumbus View Post
                  Then how do you explain:
                  9] paying myself a decent wage.
                  The $150 / day came from Noettica, the paying myself a decent wage was on Rooterboys list.

                  Comment


                  • #10
                    Re: What are the costs of running a business.

                    ALWAYS UNDER STRESS!

                    Do not think that you will not have a boss you will just have more of them now they are called customers

                    Sleepless nights, paying the bills, bookeeping, parts, equipment repairs the list goes on...

                    Just when you think you are getting ahead along comes quarterly taxes like a slap from the hand of reality.

                    My wife thinks I'm cheating on her with my K-60 due to the long hours...

                    If you are good your one man show will quickly spiral out of control due to too much work and not enough hours in the day ( I run between 12 and 14 hours a day 6 days a week)


                    Being a one man show will also cost you your back or one or both knees over time so be ready for it

                    I still will not trade it for anything short of being able to sit on a beach and have fruity drinks brought to me all day long for one reason:

                    Though in the interest of good business I have never had to do it yet as a business owner I reserve the right to tell anyone I like to Fuc$ O$$


                    Priceless

                    Okie

                    Comment


                    • #11
                      Re: What are the costs of running a business.

                      Originally posted by OkieBill View Post
                      Though in the interest of good business I have never had to do it yet as a business owner I reserve the right to tell anyone I like to Fuc$ O$$


                      Priceless

                      Okie
                      Rights aren't worth much unless they're exercised.

                      Comment


                      • #12
                        Re: What are the costs of running a business.

                        From what I can figure out the more advertising you do the money money you make. It can be summed up that easily. That's partially why I'm looking at franchising because I need a better deal on the advertising in order to compete.

                        Google Adwords is a good, relatively-cheap way to get your name out there and their FREE LOCAL BUSINESS LISTING is invaluable. Ditto w/ Yahoo.

                        If I was going to give you any advise I would say focus on the advertising and the work will come. Even if you can only dedicate $500 / month to it, do it and do it well.

                        MILTON

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                        • #13
                          Re: What are the costs of running a business.

                          As you get older the biggest single cost will be health insurance.

                          If you have no business experience, I would very strongly suggest you begin taking business courses at the local community college. Failure to keep current on paperwork, and tax issues torpedoes more businesses than anything else. I matters not how good a plumber you are. The world is full of good plumbers. Without business savvy you are destined to fail. It is entirely possible to gross well over a million a year and still loose money.
                          sigpic

                          Comment


                          • #14
                            Re: What are the costs of running a business.

                            Originally posted by NHMaster3015 View Post
                            As you get older the biggest single cost will be health insurance.

                            If you have no business experience, I would very strongly suggest you begin taking business courses at the local community college. Failure to keep current on paperwork, and tax issues torpedoes more businesses than anything else. I matters not how good a plumber you are. The world is full of good plumbers. Without business savvy you are destined to fail. It is entirely possible to gross well over a million a year and still loose money.

                            Thanks that sounds like excellent advice.
                            I need to take some business classes.
                            I have great health insurance for myself. Thought the VA.
                            10 years from now I will also have tricare.
                            David

                            Comment


                            • #15
                              Re: What are the costs of running a business.

                              Originally posted by rooterboy View Post
                              Thanks Big Jim.
                              basically its the correct way in calculating all the costs factored in. but..

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