[pont3]

I've been self-employed since 1998 and have employed up to thirty employees. I was once an employee so I understand their lack of understanding as to where the incoming revenue goes. Most don't understand that worker's comp is based on employee income and that the more the employee makes, the higher the comp premium. They don't understand that the incoming revenue must pay for the OSHA required safety equipment and training, the facility maintenance, the vehicle maintenance, the mandatory drug and alcohol testing, and various other incidentals that they take for granted.

They don't realize that if they slam a door on their OWN finger and file for worker's comp, my premiums will go up. They don't realize that I have to match dollar for dollar certain portions of their taxes. They don't realize that every vehicle accident, whether their fault or not, impacts my liability premiums. They don't realize how expensive it is to remain DOT and OSHA compliant. They don't realize that I work far more hours than any of them, yet receive smaller paychecks.

That's why I enjoy a much better life without them as I'm the only one that has to show up now. And I can count on me. I no longer have to deal with complaints from my clients or their customers and I don't have to constantly change my daily plans.

[dennis kirban]

I've been fortunate.....

never punched a time clock since getting out the military after a 3 year stint back in 1969.

Owned several different businesses over the years that kinda intertwined all automotive related.

Obviousily today starting a business if you have a family to support requires a lot of
skill, time, luck, devotion, an a keen desire to enjoy the vocation you choose.

Its fun in my business to create something that sells and people want.


As some I am sure will tell you the more employees you have can also mean the more headaches you have.

Self employeed can raise the stress levels.

One rule of thumb with the world changing so quickly is never put all your eggs in one basket....in other words if you tie your success based on selling to one particular company you better have a back up plan or if you produce one single product you better have a back up plan case it fails or gets copied.

It has its perks.....and I have been blessed....

[email protected]

kirbanperformance.com

[th442]

Great thread guys. In my 22nd year. Getting back to the orig point, it is true at least for me, that employees have no clue as to the real cost of their labor. Too often they are simply looking at the dollar amount on their check. There should be a place on the check stub showing the true hourly rate they cost the business, everything included.

Self employment to me has been rewarding in many ways, financial only being one. As you all know, owning your own business requires alot of you, keeping it all in balance is the trick. Once established, it took me awhile to realize my family was more important. Missed alot time with my kids when they were young, I guess my only regret.

[71GP76TA]

The last time I checked... For every dollar per hour you pay an employee... it costs you an additional $.56 per hour on the backend..... I'm sure its even more today

[Jim Zeek]

Originally Posted by The Boss

I won't take that personally Jim.

The opportunity is yours! Take that race hosting thing to the next level and let go of that union safety net of yours. If it looks SOOOOOOOO good, why don't you join us?

Not personal to anyone. Just saying I see everyone bitching. If its that bad get out. I do the race hosting thing because I like seeing some people more than just once a year. Not a money maker.
I could work non union but why would I want to work for half the money, crappy or no insurance, no pension and no annuity? Pretty stupid if I did.

[The Boss]

Why not buy your own machine? I did! Had a Kobelco 310 we bought new and a John Deere 450LT we bought used. My excavation costs were second only to my lumber bill, but payments on an excavator are less than 20k/year. Did a lot of work with those machines, used up all of the depreciation then sold my half of the business to my partner for twice my original investment. He makes a nice living off it now - machines are paid for, and he gets $120/hour for the excavator, 85/hr for the dozer. How do those numbers sound?

[sleepy]

Those numbers SOUND like he's makeing loads of money.


UNTIL you factor in, fuel, labor, repaires,mantinance, insurance, the cost of moving from job to job taxes....... Then it sounds like he's way too low.

[mikeb]

I can relate to everything the boss commented on. I was a partner in a small IT shop and at one time we had about 10 employees. Times got tough and the partners went months without a paycheck, but the employees where still paid. I had signed a document that pledged all of my personal assets to the bank as security to get a line of credit, which kept me awake at night. We fought constantly with rising health care costs and tax audits. The stress was killing me.

I worked like a dog. I never had time "off", and even when i took an (unpaid) vacation i was thinking about work.

The average employee simply does not understand whats it like to own a business, or the sacrifices that business owners make on their behalf.

I eventually ran through my savings and had to sell out of the partnership. I still own my own business, but i'm now an army of one. I like this new arrangement a heck of a lot better than the old one.

[Ken -Ace- Brewer]

Originally Posted by ksgto

Jim I don't think anyone here is really complaing about being self employed. I get tired of people thinking we have alot of money cause where self-employed. Most people don't have a clue what's involved running your own business. Most of us that's been doing this for awhile knows how to manage there money for the slow times. If employees would take there bosses place for a week or so they'd change there mind.

Well said!

Ace

[SRR]

I think you have to be wired a certain way to run your own business. I have a low tolerance for BS and lazy people so I couldn't see myself running my own business even though I repair cars on the side and have a full time job. I agree on some comments about employee's, they come up with some whoppers for not coming to work. We have a "point" system in place and once you hit a certain number for tardies and no shows your butt is gone. Period.

[klunker]

I was self employed from 94 to 2008 when I sold the business.
I bought the business from existing owner. To buy the existing business I had to put everything I had on the line, cleaned out all savings and even borrowed money from the current owner. I increased sales 10 fold in those 14 years. I enjoyed many aspects of owning/running a business. The worst was employees. I had usually about 10-12 employees. Relatively highly skilled (tool and die makers). One bad employee can kill the whole crew. It got to the point that I was going to either sell, get rid of problem customers/employees and scale down or just close the doors and walk away. I was fortunate to sell just before the economy tanked. All the years I owned the business there were several employees who made more than I did. The big pay off for me came when I sold the business. It allowed me to retire at 50. If I had to do it over I would do some things differently. Live and learn.
I did not give raises every year, but I paid for health Ins. 100 percent. that was a killer. You have one guy in the group have a bad year and the rates would go up 35 percent. You could jump to different carriers then the next year they would jump 50-60 percent. You have to show the employees how much thier benefits cost you. When I started showing them they could not believe it. In my business I would say it ran 35-50 percent of their pay.

[T A 70]

Originally Posted by Jim Zeek

Not personal to anyone. Just saying I see everyone bitching. If its that bad get out. I do the race hosting thing because I like seeing some people more than just once a year. Not a money maker.
I could work non union but why would I want to work for half the money, crappy or no insurance, no pension and no annuity? Pretty stupid if I did.

Not everyone is bitching. This thread is for employers; if it's that bad you should stay out..

[David Jones]

Originally Posted by Jim Zeek

I don't think anyone is forcing you guys to work for yourself. If its SOOOOOOOO bad, go work for someone else. Must be nice to STASH 15K when you don't get paid for work? I bet Uncle Sam would like to know how you can STASH 15K without a paycheck. A bunch of whiney ass bitches around here.

Whiney ass bitches?

That's rich.
I've discovered over the years that you can teach anybody to dig a hole. Some people even get really good at it. You should be proud..........

[richard sargent]

I have been in the car business for almost 15 years. Started out with a gravel lot with a outhouse, borrowed water and electricty from the neighboor and paid his bills for the trouble.

I knew what I was getting into, I have made 50k clear in a month and lost that much in a single month. I worked closely before with a fomer owner so I knew.

I don't complain it comes with terriorty, but I have experienced just about everything that the rest of this thread has gone thru good and bad.

I have made thru worst of times and things are getting better, but thru this whole deal I got to do it my way with my vision, my dreams.

I have never lost sight of this and everyday I am thankful of all good stuff it has brought me.

[71GP76TA]

Originally Posted by richard sargent

I have been in the car business for almost 15 years. Started out with a gravel lot with a outhouse, borrowed water and electricty from the neighboor and paid his bills for the trouble.

I knew what I was getting into, I have made 50k clear in a month and lost that much in a single month. I worked closely before with a fomer owner so I knew.

I don't complain it comes with terriorty, but I have experienced just about everything that the rest of this thread has gone thru good and bad.

I have made thru worst of times and things are getting better, but thru this whole deal I got to do it my way with my vision, my dreams.

I have never lost sight of this and everyday I am thankful of all good stuff it has brought me.

Here is a pic of my lot..... outhouse and all........ the rent is cheap and the cell tower next door pays the PG&E

[Jim Zeek]

Originally Posted by The Boss

Why not buy your own machine? I did! Had a Kobelco 310 we bought new and a John Deere 450LT we bought used. My excavation costs were second only to my lumber bill, but payments on an excavator are less than 20k/year. Did a lot of work with those machines, used up all of the depreciation then sold my half of the business to my partner for twice my original investment. He makes a nice living off it now - machines are paid for, and he gets $120/hour for the excavator, 85/hr for the dozer. How do those numbers sound?

I get $43.00/hr and another $20/hr in my benefits. All I have to do is show up, grease it and keep it clean. I have 12 1/2 years til I can retire at 55 with 35 years in the local. Collect my pension and go sell motorcycles on my hours.

[Jim Zeek]

Originally Posted by sleepy

UNTIL you factor in, fuel, labor, repaires,mantinance, insurance, the cost of moving from job to job taxes....... Then it sounds like he's way too low.

Yep. And most of all .....TIME. At the end of the day, shut the machine off and let the boss know if I need anything for the next day.

[Jim Zeek]

Originally Posted by T A 70

This thread is for employers;.

Didn't know there was an "employer only room".

[Jim Zeek]

Originally Posted by David Jones

You should be proud..........

Yep. I could probably figure out how to sell jewelry in a couple hours too.

[4dblnkldude]

It don't matter who you are you'll find something to bitch about, huh guys? Self employed or otherwise.