I am presently turning work away. I do not like to do this and many of my long time customers are becoming frustrated by waiting. So I am thinking it is time to hire some one. I am not sure were to begin? How do I find good people? How much do I need to have in the bank for payroll? Taxes? Co. Policies? Any feed back is welcome
I'd consider carefully if my existing situation was profitable, and how adding payroll expense will affect that. Beware unless you know how to recalculate your "break-even" point. More work isn't always the same as more profitable work.
It may be a good oportunity to raise your rates, thereby becoming profitable, or increasing your profits.
dnkldorf, Iam using Quick books pro. I am in the process of working out things with mt accountant so it will be a better tool. (reports etc.) Dave, We do have a handle on our expenses and our rates I like to be as close to the most expensive as possible. We also have some subs that are a big help, but they are couple days here and there. Is this the right track? Phil
I run this business alone, Obsaleet, so I can't be much help. I'd personally rather work 60 hour weeks and rake in the dough! I lost a kitchen job last summer when I was very busy, but she hated the other electrician and had me finish the job when I became available.
Sometimes when I'm busy I bid jobs at overtime since I'll be completing them in overtime hours. I don't get many of them, but the ones I do get are very profitable (and you don't want to be low-bidding when you're busy). Enjoy it while it lasts!