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Thread: How much does it cost just to keep the doors open?

  1. #11
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    Quote Originally Posted by Coppersmith View Post
    I know you said your not interested in vehicle or overhead costs, but I don't see how you can do work without those costs.
    My spider-sense tells me he doesn't need help with those topics. not that he doesn't need to consider them.
    Code references based on 2005 NEC
    Larry B. Fine
    Master Electrician
    Electrical Contractor
    Richmond, VA

  2. #12
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    Quote Originally Posted by Coppersmith View Post
    the list is endless.
    oh gawd yes.

    and at the end of a hard day's work , one comes home to that little blinky light on the phone....~RJ~

  3. #13
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    Quote Originally Posted by LarryFine View Post
    My spider-sense tells me he doesn't need help with those topics. not that he doesn't need to consider them.


    Your spider-sense is working. Thanks.

    I am aware there are many costs of a business, I was particularly interested in the license/insurance costs.

    thank you all

  4. #14
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    One of the most difficult things to do in our line of work is to do a break even analysis. However, every accountant you talk to will tell you that doing this should be one of the first steps needed to start your business. The first thing you'll have to consider is how much $$$ you need to stay alive. Once you know that you can try to work backwards and insert #'s that reflect how much business you need to perform, what your profit margin will be, what your overhead costs will be, etc and you'll probably come close to what a realistic # might be.

    It might help to get a P&L statement from a fellow contractor (if you can) to see what his actual operating #'s were and then judge by that. Don't try to get too big too fast. Take on work that you can handle. Once you start to grow then you can expand, hire help, get new truck(s), etc. While big $$ commercial jobs look tempting you can get severely burnt if you are not well capitalized.

    Good luck.

  5. #15
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    Quote Originally Posted by JoeNorm View Post
    Just curious what it costs to have an active and insured business open?

    This is bound to vary from place to place, that's OK.

    I am not talking vehicles, overhead, etc. Just the license and insurance to be able to go out and do a job?

    Are we talking hundreds$ a year or thousands$ a year?

    thanks

    I agree with CopperDude, you have to factor in ALL your overhead costs of which insurance and licences are a part of.
    But out of my own curiosity, I have to ask why you are asking this question in the first place?
    Your municipality or whoever issues them in your area can tell you exactly what your licensing fees will be, and its easy enough to get a quote from an insurance broker for commercial liability insurance.
    Are you trying to get general costs before deciding to open your doors for business or do you have some other objective?
    Sure, we could all tell you what we pay for these things, but it's going to differ widely based on location, company size, number of employees, years in business etc.
    If we can know the nature or root of your question, it would be a lot easier to give you a good answer.

  6. #16
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    Quote Originally Posted by Stickboy View Post
    I agree with CopperDude, you have to factor in ALL your overhead costs of which insurance and licences are a part of.
    But out of my own curiosity, I have to ask why you are asking this question in the first place?
    Your municipality or whoever issues them in your area can tell you exactly what your licensing fees will be, and its easy enough to get a quote from an insurance broker for commercial liability insurance.
    Are you trying to get general costs before deciding to open your doors for business or do you have some other objective?
    Sure, we could all tell you what we pay for these things, but it's going to differ widely based on location, company size, number of employees, years in business etc.
    If we can know the nature or root of your question, it would be a lot easier to give you a good answer.
    You are making too much sense here! A crazy concept for us Electricians! lol

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