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Posted by Laura Vestanen on 4/2/07 7:54pm
SD/CA of CA posted the below on 3/30/07 2:41pm Msg #182957
VERY solid, practical advice. Read and learn!
If you're a newbee and take $50.00 signings, as I did, PLEASE read further.
I log ALL costs related to my notary business and after 3 years I figured it was time to find out where I was at financially. I also include all auto expenses (mileage) in the cost.
I took all income and all costs and found that 2/3 of my income was expenses. That means that for a $50.00 signing my profit was $16.67. Not good.
Now if you figure the minimum time it takes to do a simple signing, here's what you get.
Pre-sign time: 1/2 hour minimum.
Travel to site: 1/2 hour minimum
Signing time: 1 hour minimum
Travel home: 1/2 hour minimum
Invoice/ship: 1/2 hour minimum
Minimum Total: 3 hours
You're making less than $6.00 per hour.
Go to McDonald's, they pay more and there's less stress.