Re: What is your competition like?
Estimated annual revenue calculation= 12 shows x $200 = $2400 rounded to the nearest $100,000 = $100,000
Estimated annual revenue calculation= 12 shows x $200 = $2400 rounded to the nearest $100,000 = $100,000
Estimated annual revenue calculation= 12 shows x $200 = $2400 rounded to the nearest $100,000 = $100,000
So now you owe $6,000 sales tax plus $4,412.50 state income tax and $18,773.25 federal income tax to the IRS? :twisted:
My competition comes in a few shapes and sizes.
The "annoying" competition is a bunch of Yamaha club series speakers, and a pile of mis-matched gear from the early 80's/90's. He underbids everyone, sends out crappy crews and honestly, I'm surprised his gear hasn't burned any venues down yet... He's the kind of guy that can send out 5 systems at a time, and yes, they make noise, but my god it is just not pleasant. The only reason he stays in business is because he can do so many shows at one time.
The "real" competition is a company that doesn't always underbid everyone, but rather, they just have a lot of idiot techs and poorly deploy systems all the time. They've got some big accounts in the area, and a lot of gear. I'm slowly stealing away some of their clients, but it's a big work in progress.
The "rest" all have an understanding with each other. We help each other out when needed, we stay out of each other's hair, stick to the same clients, don't try to steal anyone away from each other. It works out well- there's probably 6 other companies in my area that do a lot of the same type of gigs I do, but we just leave each other alone. We are all busy enough that we don't need anymore of those types of gigs. I'm the "largest" company in the area at this level, so people really don't mess with me.
Evan
Slight deviation, what does m i stand for?
Hey Evan,
I guess you could say I'm one of those ankle biters in the general area. I've got a couple of bands that are keeping my weekends full.
Edward, there is a difference between an ankle biter, and a bottom feeder.
An ankle biter goes after gigs that have an established fee, and underbids to get the gig. (This can perpetuate a "race to the bottom" if he gets ankle bit.)
A bottom feeder simply has the gigs at the bottom of the totem pole. Nothing wrong with that, it is a niche that needs to be filled.
As long as you are charging the (admittedly low) fees that are the market value for those gigs.
Regards, Jack
Estimated annual revenue calculation= 12 shows x $200 = $2400 rounded to the nearest $100,000 = $100,000
How does this work? Someone was telling me they were going to do this. How can you legally compete with for profit companies?I figured out how to beat the IRS.
I'm one step below 501(c)(3)
I'm a not-for-income-under-any-circumstances operator.
I make it up in volume, though. The more I work, the more I don't earn.
Every silver lining has a cloud around it...
How does this work? Someone was telling me they were going to do this. How can you legally compete with for profit companies?
John, I think you missed the satire/sarcasm...
Edward, there is a difference between an ankle biter, and a bottom feeder.
An ankle biter goes after gigs that have an established fee, and underbids to get the gig. (This can perpetuate a "race to the bottom" if he gets ankle bit.)
A bottom feeder simply has the gigs at the bottom of the totem pole. Nothing wrong with that, it is a niche that needs to be filled.
As long as you are charging the (admittedly low) fees that are the market value for those gigs.
Regards, Jack
This is pretty spot on Jack! Too many ankle biters in the area, they should stick to being bottom feeders.
If you looked at all my years in the rental business you would see that it was "not for profit".But really, I have a friend who is forming a not for profit for his sound company. !
While I am not a math expert wouldn't rounding $2400 to the nearest 100k round down to zero?
Rounding pennies to the nearest dollar do not round up 2 1/2 cents to a full dollar.
Carry on...
JR