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RE: [ST] What do you do?



I think you're right on the money (no pun intended)!  My wife had a 
business that just went under. I know all about the out of pocket 
expenditures too well because I had been paying them for the last couple of 
months it was open.  The rent was a tad bit higher ($2900+), utilities were 
about the same, I don't remember what the liability insurance was because 
it was paid yearly.  She had one part time employee (basically answered the 
phone) for a short time and paid minimum wage. She put in 12 - 14 hours M-F 
and ~6 on Saturday with no compensation.  She opened, closed, cleaned, etc, 
and did the books too.

You forgot the monthly franchise and bank fees.  Most people don't realize 
that while they get "free checking, etc" businesses pay for the same 
services.  The startup costs weren't anything to sneeze at 
either!  Franchise purchase, computers, desks, phones, build out, 
equipment, credit card machine, daily supplies, the list goes on and 
on......  Whew!  No wonder I have a LARGE 2nd mortgage on the house.

The other amazing thing I found, is how many people think that because 
you're "running" your own business, you must be RICH.  And they try to get 
a "deal" which squeezes out of every penny of your profit.  "Come on, it 
won't break you!"  If they only knew!

George

At 09:44 AM 2/14/2005 , Andrew F. Kay, Jr. wrote:
>Just a quick calculation:
>
>3 employees; a Mechanic, Parts Guy and Bookkeeper - $9,000 US a month
>(the bookkeeper is the most important, BTW)
>
>Rent- 1500 SqFt @ $20 SqFt - $2500 a month
>
>Electricity/other utilities - $500 a month
>
>Insurance - A WAG here, but say $400 a month
>
>OK, now we have the door opened.  $12,400 a month, every month and
>anything you don't pay for gets turned off or leaves.  There are no
>bikes on the floor, no parts in the bin, no advertising, no telephone to
>answer and no compensation for the owner(s) who is putting up all the
>capital and more hours than the other staff combined.
>
>Who wants to be first to open a new dealership?
>
>
>
>Andrew F. Kay, Jr.
>Riders of the Lost Empire, LC,  13355 79th Street, Fellsmere, FL 32948
>www.lostempire.com   andy@xxxxxxxxxxxxxx
>"Sound, sound the clarion, fill the fife, throughout the sensual world
>proclaim, one crowded hour of glorious life is worth an age without a
>name." Thomas Osbert Mordaunt, 1730-1809
>
>
>
>-----Original Message-----
>From: owner-st@xxxxxxxxxx [mailto:owner-st@xxxxxxxxxx] On Behalf Of
>Masiak, Richard
>
>I know.  I never ran a busines like that but I have a hard time
>believing the overhead is that much $$$$.
>
>-----Original Message-----
>From: owner-st@xxxxxxxxxx [mailto:owner-st@xxxxxxxxxx]On Behalf Of iPat
>
>hmm, theres the roof to keep the people and bikes and tools safe and
>walls to keep it up. Water, electricity, phone bills etc. upkeep of
>machinery, training, advertising......
>
>just pointing it out thats all ; ()
>
>
>
>
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