Have you owned a business/company?

Padawanbater2

Padawanbater2

Well-Known Member
I would like to hear anything about owning/operating a business from your perspective

I put this in the politics section to hopefully steer the discussion in that direction

What is your general opinion about your employees, their wages, responsibilities, benefits, or your relationship with them? What do you think about the current tax system and how that affects your business? What kinds of things would you change about your business if you could start over again? How did you get started? How does everyone's favorite plant factor in if at all - Do you do business under the influence? What kinds of aspirations do you have for the future for your business? Or, how have businesses you've owned in the past faced problems or failed?

Or anything else you would like to add
 
londonfog

londonfog

Well-Known Member
I own a business and feel Bernie would kill small business if we did a 15 dollar min wage across the board.
The average pay is about 12.75 an hour. Coming in the door I pay 10.50 unless you work the cleaners side then it is 11.50. I want my employees to use this employment as a stepping stone, but I do have three that has been with me since the beginning. I wanted to open a restaurant, but looked at the overhead, waste, cost and decided a laundromat/dry-cleaners would be much easier. No regrets on that. I would not want my employees high on the job due to insurance reasons,but what I don't know...just don't be drunk:cuss:( had that before)
I have invested in a car wash with others and still waiting on a return. I suggested to the major owner to add a barbecue joint to the extra space he has on the carwash. That way in the down months we can still make money. People love barbecue and they can get a plate while they wait or take it to go, either way you making money. We shall see how that goes.
I think with any business your location is very important. You should always expect a lost in the beginning, but if you do things right that should change.
 
Padawanbater2

Padawanbater2

Well-Known Member
londonfog said:
I own a business and feel Bernie would kill small business if we did a 15 dollar min wage across the board.
The average pay is about 12.75 an hour. Coming in the door I pay 10.50 unless you work the cleaners side then it is 11.50. I want my employees to use this employment as a stepping stone, but I do have three that has been with me since the beginning. I wanted to open a restaurant, but looked at the overhead, waste, cost and decided a laundromat/dry-cleaners would be much easier. No regrets on that. I would not want my employees high on the job due to insurance reasons,but what I don't know...just don't be drunk:cuss:( had that before)
I have invested in a car wash with others and still waiting on a return. I suggested to the major owner to add a barbecue joint to the extra space he has on the carwash. That way in the down months we can still make money. People love barbecue and they can get a plate while they wait or take it to go, either way you making money. We shall see how that goes.
I think with any business your location is very important. You should always expect a lost in the beginning, but if you do things right that should change.
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What political candidate do you think would be best for your business in terms of their tax policy?

Can you discuss general profit margins, nothing too specific or anything, just to get a better general analysis of why you think a $15/hour minimum wage would kill small business? How many people do you employ?

As far as a BBQ attached to a car wash, my opinion is absolutely biased on that. A friend and I drove to the Midwest one time and stopped at a Subway/Carwash, luckily I wasn't hungry, but he got a sub and we continued on. The place looked filthy and he got sick, I had a pretty good time making fun of him for being so stupid to eat that sub lmao
 
NLXSK1

NLXSK1

Well-Known Member
I have started 5 companies.

Employees come in a range from good ones to ones you hope dont show up. The current tax system hurts my business by making me pay a self employment tax which does not apply to people who work for someone else. (actually it does, it is just hidden). Where it really bites is from 80,000 to 300,000 in income. Above that the real rich who you hate have ways of avoiding a good bit of the taxes.

When I was running the manufacturing plant I had 20-30 employees running 3 shifts.

I am creating my new business from the ground up and changing as I develop. There isnt anything a business cant change other than something like it's name.

My first pool business was done by a direct mail post card to two affluent zip codes in Scottsdale Arizona advertising my services. Cleaning pools is relatively cheap, you need a vehicle and less than $1000 dollars in equipment.

My current company - Home Inspection costs a bit more. It ran $5000 for the month long package of classes and training along with the side by side inspections required by Arizona. Granted I have been doing inspections for 10 years so that part is easy. It is the marketing and front office that I have to develop. Home inspection is not about memory it is about method. Then it is observe and report until I run out of house. I dont get yelled at very often so I would say that it does not affect me much.

The first business I got started from a month of working with a friend cleaning pools. The 2nd was owning and managing a manufacturing plant. I had worked there for a number of years prior so I had knowledge of the workings. The 3rd I took a class for. The 4th was cleaning pools again and the 5th was my current job.

My business started earlier this year. Right now I need to get to subsistence level. This month has already had 2 jobs which is great. Somewhere between 10 & 15 a month and I am making money. When I reach between 20 and 30 jobs a month and I will have to hire someone to handle the phones and between 30 & 50 jobs a month I will have to consider hiring someone.

All businesses face problems and/or challenges. You have to understand your target market and find a niche where you provide something your competitors do not. That can be exceptional customer service, competitive pricing of goods and services, etc. They also have good sides. Maintenance jobs like cleaning pools or pest control provide a steady recurring income that can be depended upon. Jobs like being a Realtor or a home inspector are based off of sales and therefore you can have good months and terrible months.

The important thing is to know what you like or can do for an extended period of time and then become good at it. Once you have attained competence in that field it is time to branch off and go on your own.
 
londonfog

londonfog

Well-Known Member
Padawanbater2 said:
What political candidate do you think would be best for your business in terms of their tax policy?

Can you discuss general profit margins, nothing too specific or anything, just to get a better general analysis of why you think a $15/hour minimum wage would kill small business? How many people do you employ?

As far as a BBQ attached to a car wash, my opinion is absolutely biased on that. A friend and I drove to the Midwest one time and stopped at a Subway/Carwash, luckily I wasn't hungry, but he got a sub and we continued on. The place looked filthy and he got sick, I had a pretty good time making fun of him for being so stupid to eat that sub lmao
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I'm going with Hillary, but to be honest voting Repuke would be better from a business aspect, but those fuckers are against every thing I stand for on a personal level.
I really should not have to tell you how 15 an hour would kill a ma and pa business , you smarter than that. We not talking about Walmart or McDonald. We talking your one corner stores and such.
A barbecue joint in the right area would be a great idea. The problem with your subway is that it was not clean, not that it did not make money.
 
NLXSK1

NLXSK1

Well-Known Member
londonfog said:
I think 10-12 is a reasonable min wage.
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I think it is unreasonable to affix any arbitrary wage to a job.

Let the people who think 10-12 is a reasonable minimum wage take jobs that pay that much. If there is something else that pays less then let people do that.

How about a job where you sit in front of a computer all day and if something happens on a screen you have to call someone. Otherwise, you can surf the internet all day from your home. Does this job sound like it needs to pay $10.00 per hour to have someone interested in doing it?

Setting a concrete minimum wage eliminates flexibility and the ability for two individuals to agree to a contract that benefits both of them without government interference.

Walmart will not suddenly drop their pay to 4.00 per hour. They already pay above minimum wage so what are you so afraid of?
 
londonfog

londonfog

Well-Known Member
NLXSK1 said:
I think it is unreasonable to affix any arbitrary wage to a job.

Let the people who think 10-12 is a reasonable minimum wage take jobs that pay that much. If there is something else that pays less then let people do that.

How about a job where you sit in front of a computer all day and if something happens on a screen you have to call someone. Otherwise, you can surf the internet all day from your home. Does this job sound like it needs to pay $10.00 per hour to have someone interested in doing it?

Setting a concrete minimum wage eliminates flexibility and the ability for two individuals to agree to a contract that benefits both of them without government interference.

Walmart will not suddenly drop their pay to 4.00 per hour. They already pay above minimum wage so what are you so afraid of?
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Naw I think 10 an hour is low as I go for min wage.
 
NLXSK1

NLXSK1

Well-Known Member
The last time I paid wages was in the 90's so I have no idea what the corresponding wage would be today. I can tell you that the people that worked for me were hispanic. Most of them spoke little to no english and worked hard for low pay. I appreciate the hispanic work ethic. To be honest it has probably biased me toward hiring a hispanic person more than I would have before the experience. We did start out at minimum wage but nobody working there for over 6 months was at that rate.

There is not much chance of me dealing with the issue in the future, certainly not near future. Home inspectors typically get paid a percentage of the home inspection and it is much better than minimum wage.
 
bearkat42

bearkat42

Well-Known Member
NLXSK1 said:
I can tell you that the people that worked for me were hispanic. Most of them spoke little to no english and worked hard for low pay. I appreciate the hispanic work ethic. To be honest it has probably biased me toward hiring a hispanic person more than I would have before the experience. We did start out at minimum wage but nobody working there for over 6 months was at that rate.

There is not much chance of me dealing with the issue in the future, certainly not near future. Home inspectors typically get paid a percentage of the home inspection and it is much better than minimum wage.
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At least you admit that.
 
NLXSK1

NLXSK1

Well-Known Member
bearkat42 said:
At least you admit that.
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Bearkat, I admit I am prejudiced. I occasionally say something bigoted archie bunker style. Most of the time it is a joke. But hey, I am just as human as the next person.

The thing is that we are all prejudiced. Prejudiced towards our race, our family, our economic class, etc... It is part of the human experience.

When I am accepting a request for an inspection, there is nowhere on my paperwork where I ask what race the person is. The only place that is done is the government. Of course on all official paperwork they want to know what race you are. Dont you find that sorta racist?

I could care less what color you are as long as the credit card goes through. It doesnt affect my life one bit.
 
nitro harley

nitro harley

Well-Known Member
NLXSK1 said:
The last time I paid wages was in the 90's so I have no idea what the corresponding wage would be today. I can tell you that the people that worked for me were hispanic. Most of them spoke little to no english and worked hard for low pay. I appreciate the hispanic work ethic. To be honest it has probably biased me toward hiring a hispanic person more than I would have before the experience. We did start out at minimum wage but nobody working there for over 6 months was at that rate.

There is not much chance of me dealing with the issue in the future, certainly not near future. Home inspectors typically get paid a percentage of the home inspection and it is much better than minimum wage.
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Hey NLXSK1, Before I purchased my home in Hawaii I had a home inspection and it was around 500.00, then I had a survey done for 1200.00 and it showed six set back violations so I ate the 1700.00 and moved on. Then I made an offer on another house and had another home inspection, and then I made the home owner pay for the survey this time after the last ordeal, so I was just out the 500.00 for the inspection. And we are happy with the place. The inspector did a pretty good job except for one end of the house over two stories up he missed where the eve didn't get finished painted and the vents near the roof had the bug screens rusted out.
 
NLXSK1

NLXSK1

Well-Known Member
Padawanbater2 said:
"The test of our progress is not whether we add more to the abundance of those who have much it is whether we provide enough for those who have little." -FDR
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Nobody who is not mentally ill is starving and living in the street in America. Can you say the same for India? China? Russia?

Why are we being held to an unrealistic standard?
 
NLXSK1

NLXSK1

Well-Known Member
nitro harley said:
Hey NLXSK1, Before I purchased my home in Hawaii I had a home inspection and it was around 500.00, then I had a survey done for 1200.00 and it showed six set back violations so I ate the 1700.00 and moved on. Then I made an offer on another house and had another home inspection, and then I made the home owner pay for the survey this time after the last ordeal, so I was just out the 500.00 for the inspection. And we are happy with the place. The inspector did a pretty good job except for one end of the house over two stories up he missed where the eve didn't get finished painted and the vents near the roof had the bug screens rusted out.
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They are good. I had a home inspection done on a property I was looking to buy in North Carolina and it turned out there were issues with the basement foundation that would have cost over $10,000 dollars to repair. This was on a $60,000 house!! It is smart to have it done as it can uncover costly issues that you were unaware of.
 
Not GOP

Not GOP

Well-Known Member
My home inspection cost less than 400$ It was worth every penny. In the contract the investor/realtor agreed to pay for small repair issues that may come up in the appraisal/inspection reports. Before closing, the seller did hundreds of dollars in repairs to my house. Straps for the hot water heater, some bathroom plumbing, subfloor support beam repair, and new shop lights for my garage. :bigjoint:
 
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Not GOP

Not GOP

Well-Known Member
I bought my home before June 2013, on a FHA loan. Which means I can eliminate my mortgage insurance in less than two years, if the principal is 80% or less. That will save over 80$ on my monthly mortgage payment, while still keeping my 3.5% interest rate on a 30 year loan, which I could easily pay off in less than 15
 
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