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Why you can't make money charging $25 an hour.(Measuring Up)
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Roofing Contractor
- Article date:
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April 1, 2008
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Copyright informationCOPYRIGHT 2008 BNP Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Many small contractors mistake wages with what they should charge a customer for their services. Since many contractors start out moonlighting and doing side jobs, such logic is understandable. Unfortunately, side work is just that, side work, and the part-time contractor is probably earning most of his or her livable income through regular employment. Plus, I suspect many part timers are taking cash and not paying taxes on their part-time work.
So let's develop a simple budget for a small start-up contractor. The costs shown in Figure 1 are purely fictitious and have been put together just to use for our example. While your numbers may vary, you can determine similar ...
<$10,000>
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