Greetings,
Mr. dd. What's a w/e fee?
Mr. BB. How do you figure that unless the guy was sub par and couldn't keep a referred client base?
Our son is an independent contractor and he has more work than he knows what to do with. NO advertising. Word of mouth only. He's booked 10 months in advance. He works 70 and 80 hour weeks and he won't listen to dad who keeps telling him to slow down. His response is he's having too much fun...Kids. Go figure.
w/e is Weekend.
Every industry is different. I could make one call and have all the consulting work I wanted at more than I ever was paid. However, let's talk this position.
Obviously you can't book 10 months in advance. In fact, booking is a problem for a one man operation as you can't do more than what one man can do. Your schedule is full, you get a call, you say next week, they go elsewhere. A lot of feast and famine. Now, most Electric marine business is on boats with other things being done and the other people are going to try to hold on to the business or subcontract to you but then they keep a percent.
It's not an easy business to build and marketing or advertising is extremely expensive in the area. There are many limitations on where you can work. You must have bonding and insurance. You also run across customers who schedule and change their minds or boats having other work and not ready for you. You have travel time and people are hesitant to pay it. You must have some form of facility or a major service vehicle. You need manuals available for the equipment you're going to service.
The contractor isn't going to get paid vacation, holidays or sick pay. The contractor is going to have to pay for his own equipment, transportation, storage, insurance and the full amount of health care. The contractor is responsible for both parts of payroll taxes.
To be successful, the contractor would need to charge closer to what others charged and likely need to hire helpers. They'd also need to have the certifications Ward's has.
How do independent contractors make more? Generally by working far more hours and never taking time off. That's the way many small business owners do it. Then some grow and some decide it's not worth it.
The independent will also deal with non payments, chargebacks, even litigation. The independent will absorb the full cost of any mistakes.
One more factor. Those most willing to pay are not likely to be the ones to go to the independent. The guy with the 200' yacht won't. What about 100 ft? Some will. But the independent is getting the customer who wants a bargain price and wants to argue price.
There are these and other reasons you don't find Independent Marine Electricians operating as one man operations in South Florida. It can be done but most often just by someone who doesn't want a boss. Well, the customer is also a boss and the very conflicts they have with regular bosses, they may still have.
There's a long tough road to building a successful independent business. It requires investment and requires low income for years. Most Marine Electric professionals aren't going to choose to go through that when they can make good money elsewhere. Often those you find operating independently were terminated by others.
I don't know of any recommended independents in our area. I wouldn't use an independent one man operation personally. I see all the chasing of them, wanting the lower prices. I also see all those who come here and complain about quality of service. Perhaps in other less crowded markets there's more of an opportunity for them, but not here in South Florida.
