Tommy, I TRY to stay around 75% but thats w/10 guys & somebody in the office(doing books, ordering ,taxes,payroll,etc.) Best I could do was CLAIMING a profit of around 300K!!!!
Looks good on the surface but with all that work comes alot of headaches and sleepless nights!!
Unfortunately the last 3 yrs. have been terrible, jobs just not generating the type of money they should so this year downsized to just 2 guys that have been with me 20 plus yrs. If I run about 40k a month I can pay EVERYBODY every month and still turn an "acceptable" profit!!!!!! I've noticed over the years (good years) that after you hit a certain number(per month gross) it is the" LAW OF DIMINISHING RETURNS" as my CPA calls it
You just can't physically or mentally take care of EVERYTHING AND BE EVERYWHERE so profits aren't MAXIMIZED from each job so you start to lose money off the backend of the job........ When you can't cover all the jobs you need a 2nd & maybe a 3rd in command and findin' them ain't EASY or INEXPENSIVE
I'm 51 now and could retire but over the last 5 months of being off injured I realized I still want/desire to work , just not like I have been over the last 30 yrs. WHAT I'VE LEARNED at least in my journey is "BIGGER ISN'T ALWAYS BETTER" sometimes hard work only produces more hard work!!!!!!
My plan the next 10 yrs., take smaller jobs that are in MY comfort zone (that my shop is GOOD at), hire nobody else unless somebody leaves, (doubt that cause of lower stress level/pace of jobs) and me I'M only gonna do "high dollar" work that isn't going to take up alot of my time / long periods of time. (IE. crane lifts, pipework/pipeline, quick repairs in the gas fields for the energy companies)
And watch my shop !!!!!!! (might just start "TINKERING" around there) if you know what I mean!!!!!
Hopes the "INSIGHT" helps keep MAKIN' MONEY not just hard work TOMMY
!!!!!!! From Pittsburgh: the home of dem'STIILERS hope today ain't a bad one!!!!!!