Faux Painting for Profit

What is your idea of being in the faux painting business?

Is it to make daily wages just like those that work for you?

Or do you expect some compensation also for -

• The money you have invested
• The risks you take of loosing money
• The extra worry of running the faux business

You know a good investment bond pays less return that a share of good stock. Why? Because, first there is little or no risk with a bond. The interest on a bond must be paid whether the painting business makes money or not. A share of stock pays a return only if the business makes money.

Bondholder vs. Shareholder

The wage earner is in the position of the bond holder.

The business owner is in the position of the share holder. 

The former takes no risk and takes the smaller slice of the income. He gets hes whether anybody else gets anything or not; but he does not share in the profits.

The latter takes all the risk and expends extra brain power. He gets nothing if the business does not make a profit. It is only fair that he does get the dividends when the are available.

So far, every faux painting contractor will agree. Now we shall say something with which not all of you readers will agree.

Pay Yourself What Others Would Pay You 

Every painting contractor should not only get the legitimate profits of his business… but should also pay himself a share of the legitimate expenses of the business before profits are figured. In other words… the "boss" should have wages as well as the men.

The only time a contractor should lose out on a salary… is when he goes Florida for a vacation and needs to pay those wages to someone else.  If he works with his hands… he certainly deserves wages. And if he supervises other painters… he should have a commensurates salary for that.

Did you just say "Who says we wouldn't agree with that?" 

Well, I heard a pretty big time painting contractor say at a recent convention that he never charged anything to the business for his own time or supervisory experience. He simply took what was left after labor and materials were accounted for. 

If this really popular faux painter ignores such a simple and vital business principle, I imagine there may be others.

You Are The Boss and Employee… Both! 

Click here to read more: Faux Paint Contractor 

This entry was posted on Friday, February 8th, 2008 at 9:15 pm and is filed under Faux Business Skills. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.