How much money is your business making?

How much are you making a month for full timers?

  • 0-$500

    Votes: 0 0.0%

  • $500-1000

    Votes: 0 0.0%

  • $1000-3000

    Votes: 0 0.0%

  • $3000+

    Votes: 0 0.0%
  • Total voters
    0
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Net income around 11ty dollars per month, depending on the season it fluctuates 3.7 to 7.3 points on a bell curve scale and you've got to account for all the real maple syrup we use.



Recession, what?

















:think:
 
If you are doing this full time and making less than $3000 a month you need to find a way to increase your income or do something else...and that applies to pretty much any job.
 
I do not think you will find too many people who will volunteer their financial information. What I will say though, as with any business, the first few years can be tough. It takes time to build a solid customer base. What is important is that your business grows from one year to the next, and that you takes steps to grow your business. For me, being in business is a long term thing. I plan to build my business and get it to the point where I can either sell it, or have others run the day-to-day for me. Too many get into detailing, and other businesses for that matter, expecting to make a quick and easy dollar. Most successful business owners did not become hugely successful overnight.
 
I also think you need to rethink your numbers, unless you are talking about net profit once all is paid(including your wage). The $3000 you state is a good base weekly number for a singler opperator, it's less than what we pay our employees per month(our average pay check before deductions is close to $900 per week). For someone in business you have to take into account your overhead, insurance, taxes, licences, and a whole plethora of other expenses, not just what you desire as a wage.
 
$3k a month? Work at Burger King, you'll get health insurance also..
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Your burger king pays that much? WOW.......mimnum wage must be damn high around where you live. 3k is not that bad depending on your situation
 
I would say full time you should make 3 grand a week. Maybe in the off season make under that, but that is not a good number to be making a month. That is just my opinion. By the time I factor in all of my insurances, truck payments, payroll, products, etc... your already over 3 thousand with just that.
 
Gross sales and final income are 2 different worlds, with the goal being bringing the 2 numbers the closest together possible, while remaining legal and valid(insurance, taxes, licences, OSHA and EPA compliance, employeee benifits, lease(shop or mobile unit, even better both), advertising, education(ongoing for sure), memberships (associations, local chamber of commerce ect), charity, and the list goes on).



Any buisness must know its opperating costs(the owners wage is considered an expense, and should be budgeted as such) and calculate the needs form there.



For a single mobile opperator $150,000 is not unheard of as gross sales, and I would say that under $100,000 gross sales, you may as well work for someone else, and save yourself the headaches of administering a business.



Unfortunatly in this domain, there is an abundance of great technicians, but a lack of great business people, the latter bieng the most important skill a detailer will ever develope.
 
reparebrise said:
Gross sales and final income are 2 different worlds, with the goal being bringing the 2 numbers the closest together possible, while remaining legal and valid(insurance, taxes, licences, OSHA and EPA compliance, employeee benifits, lease(shop or mobile unit, even better both), advertising, education(ongoing for sure), memberships (associations, local chamber of commerce ect), charity, and the list goes on).



Any buisness must know its opperating costs(the owners wage is considered an expense, and should be budgeted as such) and calculate the needs form there.



For a single mobile opperator $150,000 is not unheard of as gross sales, and I would say that under $100,000 gross sales, you may as well work for someone else, and save yourself the headaches of administering a business.



Unfortunatly in this domain, there is an abundance of great technicians, but a lack of great business people, the latter bieng the most important skill a detailer will ever develope.
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I can't tell you how many guys have come to work for me that have had their own detailing business and made absolutely nothing after pulling 80 hour weeks. 90% of the guys entering this business just don't get it. With minimum wage in my province at $9.50 it costs me at least $12.83 (all employment expenses included) an hour to have my worst employee at the shop and we don't have anyone that makes minimum wage. We need to charge $60 an hour to make any money after paying the employees/rent/heat/hydro/phone/advertising/supplies - how many guys in this business are doing that? Then they scratch their heads when they are swamped with $99 full details and are $10000 in the hole after 6 months (actually happened to a former employee of mine). You have to be a great detailer AND a great business person to succeed in this business. One without the other and you will fail.
 
reparebrise said:
Minimum charge should be considered BAM, Buck A Minute, under that you are losing money.
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no shop location and no employees = you dont have to make 5K a week just to get by...



but I charge the BAM price! I am also ok with just getting 250-300 per day as that is more than what my lifestyle demands...If I make under that, then it's ok because I dont have a house, three cars, two kids, etc...



its all about living within your capabilities and not overextending
 
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