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Louise, I'm well aware of all...
costs you mention as I already run a business with 5 employees (have been for 7 years) so I'm well aware of all the associated costs you mention. I just filed my Q1 taxes on April 30th and make monthly 941 deposits (Fed/FICA) on the 15th of each month. Plus...
*Unemployment (State) *Workers' Comp. *B&O (Bus. and Occupation Taxes) *940 (FUTA) Fed. Ununemploy. *State W/H Taxes *Bus. Liability Insur. *City and State Licenses *etc. However, I guarantee that as an employer, I could get the job done a lot cheaper than $25-$35 per car! Somehow you think it's a bargain for the dealers at that price. That's strange because all the dealers in my area have their own detailers. Maybe they're all stupid, although I know one who is a millionaire. Go for it and let me know if you make $7700 a month. If you do I'd suggest moving real FAST and start up hundreds of others around the country before everyone else discovers how lucrative this really is. However, let me warn you that in a free marketplace competition normally does not allow one to make obscene profits for long. The only way you can do that is to start a business then get politicians to pass laws that make it prohibitively expensively to get into that type of business... or have a process that is protected by a patent (giving you a 17-year headstart),thereby giving you a monopoly. My favorite business model involves the Dart family. They invented the lowly styrofoam cup. They never did patent the process, which would in time have revealed their secrets. Apparently not many people have figured out just how it's done and the Dart's continue to be rake in hundreds of millions each year! Corollary to Murphy's Law: Nothing is ever quite as easy or as lucrative as it first appears on paper. If it is, then the law of diminishing returns will take over. Jim > Fringe benefits, state unemployment > compensation > insurance fee, state and federal tax > payments > (e.g., FICA), compliance with all federal > and state employee laws (e.g., Family > Medical > Leave Act) and potential for lawsuits if > you screw up at any point in the process. |
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