I want to open a property maintenance company, how should I pay my employees if low on cash?

[Shaunny]

Hi

I was wondering if someone could advise me on this. I want to set up a property maintenance company, but low on cash, so bootstrapping at the moment. Do you guys reckon there is a way of paying employees at a later stage or something I can do?
would appreciate your advice

Shaun

[maksim]

What are your expenses projected to be? If you have a solid business plan, raise startup equity/loans for 3 years of operating expenses. Unless you are paying employees commissions, hard to pay them a salary if you do not have any money, and keep in mind... would you want to work for someone like yourself?

[Franchise Think Tank]

I don't have a great answer here, but perhaps keep them as independent contractors and pay them per job. Or just outsource the work. How much are you planning on investing?

[moses makoare]

Getting a new accountant might help

[Wendell Zuchs]

Try to put it in small company only and make a plan first before doing a company. Need to settle first all necessary things before moving in. Estimate the possible payment for your employees.

[windroadtosuccess]

Wendell Zuchs is really trying to get his post count up quickly, I have seen some of the most pointless posts ever from his username,
The easier way is to start paying employees per job (or commissions), to be honest if you can keep that going you are better off anyway, jobs will get down faster and they can be held more accountable for the quality of work.
Asking for your property maintenance fees upfront is also a very easy solution, then just pay out to your employees up front, you will probably profit higher paying them hourly rather then per job, a commissioned workplace is 2% more expensive I believe.

[Wendell Zuchs]

You can pay them in monthly basis depends on their Task and give them grocery or services that they need as sort of temporary payment for them. In this way you can lessen the cash for their salary.

[joelietz]

You could just do the maintenance work yourself until you make enough money that you can hire another person. Or you could be up front with potential employees and let them know that they may have to work for two months before they will be paid. Someone desperate for the job or wanting to change industries may be willing to do that.

[mariya]

In the initial stage of business require a proper planning. For the payment of the employee , for that I think take a help from your friends , because no one will ready for after payment strategy. But one option you have, take a loan from bank for further investment.

[powerstar]

proper palnning means try to requite better employees and share profit with them

[OrganizedCEO]

To me, if you are bootstrapping you don't have employees. IF you can't afford employees, you don't have them. I DO NOT recommend bending the rules on payroll and such to have employees. If you want to be a property management company you start with one property and wear all the hats. You pay yourself a fair salary and live simply until you can afford to hire employees. I started a janitorial/housekeeping service with just me, a caddy and one customer. I grew the company to $483,000 business with 24 employees. I sold the business in 2008.

[barbaragabogrecan]

Payroll accounting and reporting is increasingly complex. If you will have employees, look up the "Payroll Accounting Service" providers in your area. Your accountant may have a recommendation. This complicated function can be outsourced at a reasonable cost.