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Is £300 a day minimum wage? If it was a 10 hour day at min wage that would be £81 give or take. When did taking home £300 a day become "A cheap poor quality job" ? (That's £9k a month before tax etc btw, hardly man in a shed money) What i'm taking offense to here is everyone saying it will be a poor job just because the man in the unit doesn't want to take a grand off you that day! I'll leave it at that now, greed bores me! VOTE LABOUR But it's not take home money!! It has to cover ALL the business expenses - rent, utilities, insurance, toilet paper etc, etc - before you get to take any of it home. £30 isn't going to leave much, if any, to take home.
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ChasR
RR Helper
motivation
Posts: 10,191
Club RR Member Number: 170
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Quote for body workChasR
@chasr
Club Retro Rides Member 170
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I think the disagreement comes in thinking that every job should be paid the same. Greed can manifest in different ways? Why be in a high risk profession when you can be in a job with zero risk or hassle, or no job at all? After all, you'll still be paid the same .
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I picked the xc90 up tonight. It was in the floodlit showroom ready for me to check. The bonnet, Two doors and bumper were perfect. I looked from all angles and couldn't fault it. It had been mopped all over and cleaned. It looked stunning. I opened the door and it smelled of air freshener.It had been valeted inside and out. Checked the miles, as I left it, trolly pound still in centre console. I handed back the keys of the free courtesy car and paid my £500 plus vat. I asked how they could do it so cheap. He explained they make their money on car sales. The workshop and body shop would not be able to survive without the car sales as they work at cost but they have lots and lots of repeat customers that buya car,then have it's servicing done and any bumps that might occur.So the body shop doesn't need to make too much to survive.the 3 guys have been in there 30 years each and are very good. So there we go.
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Is £300 a day minimum wage? If it was a 10 hour day at min wage that would be £81 give or take. When did taking home £300 a day become "A cheap poor quality job" ? (That's £9k a month before tax etc btw, hardly man in a shed money) What i'm taking offense to here is everyone saying it will be a poor job just because the man in the unit doesn't want to take a grand off you that day! I'll leave it at that now, greed bores me! VOTE LABOUR The sign of someone who has no idea how a business works..... I’ll give you an idea of where the £300 a day goes. First of all you have to pay someone’s wages for the day. A skilled panel beater/painter will be on a minimum of £15 per hour. 8 x 15 = £120 Then there’s your National Insurance contribution for that person for the day. So another 13.8% of their wage = £16.56 Then that’s only if one person works on the job alone from start to finish. It’s likely that someone else will give them a hand at least at some point. Then there your rent. Say on an average, small unit you’re paying £20k per year and you can say that a third of that unit and your workforce was assigned to that job on that day adds up to approximately £26 in rent Next thing is business rates. £14 should cover that. Then there’s insurance, which for a ‘shop of that size and for that nature of work I would suggest comes in at around £6 for a third again Add on heat, light and gas for the spray booth. I’d estimate £18 there Then there’s other miscellaneous items. If you rent a property on an industrial estate there will be a service charge. Then you’ll have an accountant which you have to pay. You will have admin costs for the job, there are other overheads such as bins for you to throw your waste materials in to which you used on the job, the tools and machinery you used to the job will need paying for. If a small business has a spray booth, it’s most likely on lease purchase, but either way it’s still gotta be paid for. There’s got to be at least £30 probably more in these expenses. And EVERY business needs to make a profit of its going to survive, and it will have to make a very decent profit before anyone can actually take any of that profit. A business needs money in the bank to keep paying its bills and covering any unforeseen expenses. What if your compressor or one of your machines breaks down? What if your roof springs a leak right above your main work area? What if you have a quiet period with no work going through. £300 per day is not a lot at all for a business. If you’ve got 50 cars a day going through and the cost-sharing economies of scale can be tipped in your favour then fair enough, or if you’re a semi-retired skilled person working from home or a farm out-building then it works the opposite way round, but for most people £300 per day on a car wouldn’t even cover the costs.
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Specialist Bodyshop & Fabrication Classic, Retro, Prestige & Custom Small Repairs to Concours Restorations Mechanical Work Vintage to Modern
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Excellent outcome.
My neighbour (about 2 years ago) had his almost new 5 series BMW hit by a local girl. Trashed the drivers door. Local bodyshop sourced a s/hand door stripped it, repainted it to match car & transferred all the internals & trim from original to painted door.
£375.00 plus VAT!!! yes really!!! And it still looks mint 2 years later so they did a good job. God knows how it cost so little.
As an aside - as a business owner I know the costs of owning a business and sometimes doing work at cost is better than no work. Doing work at cost will keep your business running forever - it pays overheads & wages & rent. It does not allow re-investment or me buying a Ferrari but no work does equal redundancies or closing a business. So work at cost is not preferable but is perfectly do-able.
To put it into context, just owning my business - even if I don't open the doors, pay any wages, or use any gas or electric still costs me well over £100,000.00 a year just to have it.
We need to pull in over £4,000 per day just to break even.
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LowStandards
Club Retro Rides Member
Bigging Up The Sum Sum Man Since '99
Posts: 2,636
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The sign of someone who has no idea how a business works..... Bless... The job was £600 if you bothered to read, Ive taken £300 to cover things I know nothing about already...
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Excellent outcome. Thanks blackpop
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The sign of someone who has no idea how a business works..... Bless... The job was £600 if you bothered to read, Ive taken £300 to cover things I know nothing about already... Nope - you are including the VAT - of which £100 goes straight to HMRC - the job was £500 excluding the VAT
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My business is a lot smaller scale but it never ceases to amaze me of the amount of people that assume that I don't have any overheads due to the business operating from home tineca - Nice that you got a good result - shame that he's not closer to me I could ship him all the modern repairs that I get offered
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ChasR
RR Helper
motivation
Posts: 10,191
Club RR Member Number: 170
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Quote for body workChasR
@chasr
Club Retro Rides Member 170
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My business is a lot smaller scale but it never ceases to amaze me of the amount of people that assume that I don't have any overheads due to the business operating from home tineca - Nice that you got a good result - shame that he's not closer to me I could ship him all the modern repairs that I get offered Careful, I need to buy some wings first! By not winning what I thought I was going to win (a Maserati BiTurbo Spyder) that may just be more of a reality than I realise! And yes, I'm aware that buying a Maserati that hasn't had the key turned for more than 5 years is crazier than buying some overpriced metal wings for my M3. But that's the RR way isn't it? .
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Last Edit: Dec 5, 2019 21:57:57 GMT by ChasR
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Ha ha thanks. I work with and know a lot of folk so will definitely recommend. Will try and add pics when it stops raining ☺
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The sign of someone who has no idea how a business works..... Bless... The job was £600 if you bothered to read, Ive taken £300 to cover things I know nothing about already... No, the job was £500. £200 covers the materials. The rest has to cover EVERYTHING else.
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Specialist Bodyshop & Fabrication Classic, Retro, Prestige & Custom Small Repairs to Concours Restorations Mechanical Work Vintage to Modern
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MiataMark
Club Retro Rides Member
Posts: 2,961
Club RR Member Number: 29
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Quote for body workMiataMark
@garra
Club Retro Rides Member 29
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To put it into context, just owning my business - even if I don't open the doors, pay any wages, or use any gas or electric still costs me well over £100,000.00 a year just to have it. We need to pull in over £4,000 per day just to break even. This is really going off topic and is my curiosity re business management. Are you saying that the £100K is fixed cost and that you have to generate £4K profit per day to break even? If the £4K per day is revenue, for say 50 weeks is £200K which implies that your variable costs (materials etc.) are 50% or your product. If the £100K includes staff are you basing the staffing levels on an expected revenue? Without prying too much into your business it's interesting to see how a business operates, and I agree most people don't realise all the factors. Also re the comment about downtime, I doubt if most businesses get 8 hours per day from employees (discounting overtime), probably nearer to 6. Which coincidentally is what a US company I do some work for says is a working day. I work freelance so my costs are limited to subscriptions, fees, insurance and the occasional computer/laptop.
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1990 Mazda MX-52012 BMW 118i (170bhp) - white appliance 2011 Land Rover Freelander 2 TD4 2003 Land Rover Discovery II TD52007 Alfa Romeo 159 Sportwagon JTDm
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Dec 10, 2019 17:22:13 GMT
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Sorry for late reply.
Yes £100K is fixed costs (rent/rates/phone lines/internet access/insurance etc). Staff costs and electric/gas/materials are all on top of that. We need over 4K revenue per day to make a good profit over the year,average fixed costs per annum is in the region of £450K before we start to generate any actual profit. Material costs are on top of that.
Another example of costs; we took on 2 new people this month, costs for this from agencies - £7K! The average lay person has no idea of all the costs in business and just think businesses are rolling in money.
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MiataMark
Club Retro Rides Member
Posts: 2,961
Club RR Member Number: 29
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Quote for body workMiataMark
@garra
Club Retro Rides Member 29
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Dec 17, 2019 11:59:31 GMT
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blackpopracing thanks for the reply, I'm sure most people don't understand the real costs of a business.
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1990 Mazda MX-52012 BMW 118i (170bhp) - white appliance 2011 Land Rover Freelander 2 TD4 2003 Land Rover Discovery II TD52007 Alfa Romeo 159 Sportwagon JTDm
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tofufi
South West
Posts: 1,452
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Dec 17, 2019 13:05:53 GMT
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Ha ha thanks. I work with and know a lot of folk so will definitely recommend. Will try and add pics when it stops raining ☺ Whereabouts is the bodyshop you used? Could do with a recommendation!
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Dec 17, 2019 14:43:41 GMT
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The average lay person has no idea of all the costs in business and just think businesses are rolling in money. This is the nail on the head really. If only!!!
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Specialist Bodyshop & Fabrication Classic, Retro, Prestige & Custom Small Repairs to Concours Restorations Mechanical Work Vintage to Modern
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