Originally Posted By: LT4 Vette
What about the overhead costs ???
Monthly expenses: rent, insurance, utilities, ... etc...
Those are quite variable based on geography.
Don't forget to include costs of large equipment such as compressor, lifts, frame machine, and other items the techs don't provide themselves. You'll either be financing them, leasing them, depreciation, or a combination thereof.
Estimates vary by industry and geography, but a typical multiplier for employee costs is 1.3. For example, let's say you plan to pay $30k in wages. Multiple that by 1.3 ($39k) to give you payroll tax, UI, benefits, etc.
As you can see, there's a reason shop rates hover around $100/hr.
Visit with your local chamber of commerce or SCORE chapter to develop a business plan.
What about the overhead costs ???
Monthly expenses: rent, insurance, utilities, ... etc...
Those are quite variable based on geography.
Don't forget to include costs of large equipment such as compressor, lifts, frame machine, and other items the techs don't provide themselves. You'll either be financing them, leasing them, depreciation, or a combination thereof.
Estimates vary by industry and geography, but a typical multiplier for employee costs is 1.3. For example, let's say you plan to pay $30k in wages. Multiple that by 1.3 ($39k) to give you payroll tax, UI, benefits, etc.
As you can see, there's a reason shop rates hover around $100/hr.
Visit with your local chamber of commerce or SCORE chapter to develop a business plan.