Going to Waco this week end mr electric
- Thread starter nafis
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peter d
Senior Member
- Location
- New England
A self employed EC should be paying himself a minimum of 100K a year...absolute minimum, and go up from there.
IMO of course.
IMO of course.
here in NJ, very few sole proprietor EC's gross much more than that, let alone NET...
peter d
Senior Member
- Location
- New England
take away anything the company may pay for (fuel, meals, work on the house) I know guys who have made less than apprentices after all was said and done...
peter d
Senior Member
- Location
- New England
roy g
roy g
i looked into Mr Electric franchise a few years ago. at that time you purchased a franchise for countys or citys. The franchise fee was based on the population of the city or countys you were authorized to operate in. The particular county my shop was in has a population of 70k and is essentially a bedroom community for the larger metro area which was owned by another franchise. for the 18000 dollar fee + 8% of gross sales and to be shut out of the larger market, it wasn't a deal for me.
roy g
i looked into Mr Electric franchise a few years ago. at that time you purchased a franchise for countys or citys. The franchise fee was based on the population of the city or countys you were authorized to operate in. The particular county my shop was in has a population of 70k and is essentially a bedroom community for the larger metro area which was owned by another franchise. for the 18000 dollar fee + 8% of gross sales and to be shut out of the larger market, it wasn't a deal for me.
that's what the working wives are for...average 1 man shop around the country is lucky to gross $150k....very few over $200k...way more under $150k....
2000 x $65 = $130k...how many bill out 2000 hours?
it's overhead...it's a line item for your pricing...no different than a van payment...
My business partner and I went to Waco 4 or 5 years ago and decided not to join up. It was all hugs and kisses while we were there and we were about to pull the trigger. After they thought they had us locked in and we got back home everything seemed to change. We couldn't get our calls returned and they couldn't seem to get our reimbursement check for our flights to us. Kind of got the feeling we were not going to get the best customer service after the deal was done. It might have just been the sales rep we had, but my internal radar started going off and we backed away.
G & G Electric
Member
Coming to Waco to talk to Mr. Electric? If I'm not entirely mistaken, he has only one service van here in town (yes, Waco). I know he hires people out of a local temp agency, Journeyman electricians for $15/hr. What a joke. Going rate around here is $19 to $23/hr, and upwards of $30/hr on up if you want to drive to Ft. Hood. I don't believe in franchises. You end up paying the guy who came up with the idea of "Mr. Electric" the money you should be paying yourself.
jrannis
Senior Member
- Location
- Fort Lauderdale/ Miami
I don't know how hard they lock you in but, can you work it for a couple of years and see if you like it. If not just dont renew. Worst thing I guess is that you might learn some good business practices.
bjp_ne_elec
Senior Member
- Location
- Southern NH
last I heard, he was running 4-5 trucks under Mr. Electric and a few under his other company. All this in Hewitt TX, not exactly a thriving metropolis.
one thing to keep in mind is that you pay for everything...you are either going to pay cash for the ideas, principals, and education....or you are going to pay with time and trial and error....typically the latter costs way more than the former...
but, it's easier to drag people down, than pull them up...a little misinformation here, some useless information there....pretty soon you are the new Minister of Information for Iraq...nice 1st post by the way...
Brady Electric
Senior Member
- Location
- Asheville, N. C.
Going to Waco this week end Mr electric
Going to Waco this week end Mr electric
I agree, (INVEST IN YOURSELF)
Semper Fi Buddy
Going to Waco this week end Mr electric
I agree, (INVEST IN YOURSELF)
Semper Fi Buddy
at one time I worked for the 2nd oldest construction firm in DC. A real family outfit, and old school company. I notice that a lot of the upstart/yuppie/wannabee bigshot companies of the "new age" treat their employees more like office chairs than people, and it makes me sad to see. (Its not what makes a good company) Anyhow, this is a great clip about the right stuff - I applaud these folks, they have their heads in the right place.
http://www.comcast.net/data/fan/html/popup.html?v=952567986&pl=952449357.xml&plc=952449357&launchpoint=Cover&cid=fancover&attr=default_headline&config=/config/common/fan/default.xml
http://www.comcast.net/data/fan/html/popup.html?v=952567986&pl=952449357.xml&plc=952449357&launchpoint=Cover&cid=fancover&attr=default_headline&config=/config/common/fan/default.xml
that's just it...not saying Mr. E is the right choice for everyone...but for a good percentage of people, buying into Mr. Electric, Mr. Sparky, ESI, Nexstar, etc is the best investment in themselves that they could ever make.
they are investing in education to let them build a better company for them, their family, their employees, employees families...etc
for many EC, it's throwing money down the drain...but that's because of the EC's not the systems...if you don't have the answers, investing in yourself (as implicated by many) is a bad investment...
the myopic view of electrical contractors is frightening...we are trapped in 4x4 junction boxes and can't see beyond the walls...
there is an outfit in our area that is a member of Nexstar...5 yrs or so ago when they joined, they were running less than 10 trucks between plumbing, electric, and HVAC...today they have over 50...if joining Nexstar wasn't an investment in themselves, what was it?
good luck.
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Yes we did but I felt it took a lot more work on our end than it should have.
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