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post #41 of 47 Old 07-01-2008, 01:49 PM
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Cool

Frank,

Labor, whether "in the Family" or not, is still labor...

"Employees" generally cost more because THEN, you're faced with all kinds of tax returns, reports, etc. that does take a lot of time and expense over and above the simple labor cost.

"Partners" make it a little easier... BUT, they still want their money... Yes?
They normally get their money by Drawing from the company, keeping good records, of course. Then one Partnership Tax return is prepared and the split-up reports (K-1's) given to the individuals... They have to pay their own Estimated Taxes, etc. but the Reports, etc. (PITA) are bypassed.

... at least that's the way I last remember it to be...

Labor is Labor... money is money... And we're ALL underpaid... right?

Those are good ideas about the lighting... I was thinking about having a planer, jointer, and table saw all turned on & running at the same time... Without individual circuits, would be a big problem.
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post #42 of 47 Old 09-22-2009, 03:38 AM
 
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Insurance

If you can get it insured. Run with it, Man run with it!!!!!!!
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post #43 of 47 Old 09-22-2009, 08:49 AM
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Probable monthly costs:

Rent for a 2000 sq ft building $2000
Perpetual Tool Bill for new tools $400
Insurance $300
Tool Sherpening $50
Utility Bills $350
Total Monthly payments $3100

That is 16 members at $200/Mo. or 8 members at $400/mo. just to break even. Do yo think it is do-able in your area?.
Just pay for insurance and dont worry about the liability part. If I worried about liability, I would never have a business, drive a car or allow anyone on my boat. Sorry folks, but I dont spend my life as a scared rabbit playing lawyer.

As for lumber donations and tool donations, you would have to be a charitable organization for any larger companies to even think about it.

If you want your shop to help pay for itself, teach classes and take in 1 or 2 people at $300/mo. for their play shop. When I did this my main rule was NO PRODUCTION WORK. My work sched is kinda crazy right now so I have not taken in anyone in my new shop yet, but I will. I do have a 'room-mate' in my current shop though. I rented a 1500 sq. foot building and he is using a large part of it for storage - mostly furniture and dust will not be a problem to him and my last location, I rented 2 12 X 36 side by side mini-storage buildings and shared the second one with someone else.
It cut my costs but did not eliminate them.

I do wish you luck though.

Tony B



Retired woodworker, amongst other things, Sold full time cruising boat and now full time cruising in RV. Currently in Somerville, Tx
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post #44 of 47 Old 09-22-2009, 09:38 AM
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Great idea, consult a lawyer would be my next step. Even if they sign waivers it may not keep you from being liable in the event of an accident. I understand that running a buisness requires risk, I run mine, but running a buisness with people you have not qualified with tools that will take a finger off faster than you can blink is a bit riskier than I like, and I am a roofer. Don't forget the gubiments share..................

Last edited by Nate1778; 09-22-2009 at 09:41 AM.
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post #45 of 47 Old 09-22-2009, 01:04 PM
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Quote:
Originally Posted by Tony B View Post
Probable monthly costs:

Rent for a 2000 sq ft building $2000
Perpetual Tool Bill for new tools $400
Insurance $300
Tool Sherpening $50
Utility Bills $350
Total Monthly payments $3100

That is 16 members at $200/Mo. or 8 members at $400/mo. just to break even. Do yo think it is do-able in your area?.
Just pay for insurance and dont worry about the liability part. If I worried about liability, I would never have a business, drive a car or allow anyone on my boat. Sorry folks, but I dont spend my life as a scared rabbit playing lawyer.

As for lumber donations and tool donations, you would have to be a charitable organization for any larger companies to even think about it.

If you want your shop to help pay for itself, teach classes and take in 1 or 2 people at $300/mo. for their play shop. When I did this my main rule was NO PRODUCTION WORK. My work sched is kinda crazy right now so I have not taken in anyone in my new shop yet, but I will. I do have a 'room-mate' in my current shop though. I rented a 1500 sq. foot building and he is using a large part of it for storage - mostly furniture and dust will not be a problem to him and my last location, I rented 2 12 X 36 side by side mini-storage buildings and shared the second one with someone else.
It cut my costs but did not eliminate them.

I do wish you luck though.
Nope... not at those prices... I could buy some good wood for that money!
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post #46 of 47 Old 09-22-2009, 03:28 PM Thread Starter
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Quote:
Nope... not at those prices... I could buy some good wood for that money!
$100, $200, even $300 a month is not a lot for rich people that want to try a new hobby. Look at how much money some of those guys spend on golf ! Sheesh. And what do they get out of it to show? At least in a shop they can make something that they can take home and show off. I think the idea is still good and I never thought about the aspect of getting fewer members at higher prices. I like that idea. I bet in the Charlotte area, I'd get enough people.

Bud

"Veggie burgers aren't bad if you put enough meat on them"
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post #47 of 47 Old 09-22-2009, 03:47 PM
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Yep, you're right...

If you can get enough Rich people to go for it, GO FOR IT!

Good Luck!
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