At what point does it become worth taking somebody on. I calculate, and please tell me if I'm wrong (like you all wouldn't), but I have spent all night on numbers.
After wage, still have to put up 28 days a year holiday pay. Based on 5 day week. Plus employers liability premium, extra gear used, uniform, clerical costs, ie wage slips etc, on and on. I reckon an employee would have to be making me about 100 quid a day before it was even worth the hassle!?
Thoughts please.
2 an a half days a month holiday pay so roughly =£200 a month.
employers insurance isnt as much as you think, i pay less than £400 a year so =£34
extra gear, depends if you have a two man set up with hoses already as i did so extra pole maybe clx 30 = £200 easily last a year so =£18 a month
uniform, i provide 3 polo shirts an 2 jumpers they do the rest, oh and gloves, probably 120 a year so = £10 a month
clerical, i pay my mate whos an accountant to do it all 120 = you'll probably pay a bit more but you can get the software to do everything yourself so first year is higher outlay = £200 ish so £16 a month
so roughly an extra outlay of £300 a month, then his wages so around £1200 depending on what you want to pay so £1500 in total, do you have that amount of extra work?
I got to a certain point an then employed, i didnt make a vast amount the first few months but i covered all costs and made a bit extra so was happy, ok you have bad month like now where theyve broke 2 poles and i have a few other shocks but you cant put a price on spending more time with the family. i will not allow my lads to do my cream work alone though as this is where i make my big money which covers a lot of my bills so i never want to risk losing them. Employ part time at first for say 16 hours and then go from there, that way if it doesnt work out then its not that bad