Let’s hear from the independent specifiers about their time and money. Would others be willing to share, anonymously, their:
Annual gross/net profits.
General experience (including whether CCS, registered architect or not) and years of experience.
CSI Region.
2006 Gross: $500,000
Take Home Profit: $300,000
15 years, CCS, not registered
40-50 hours/week
WOW. $300K. Is that just for one specifier?
WOW. $300K. Is that just for one specifier?
yes.
2006 Gross: $300,000
Net Estimate: $250,000
12 yrs CCS, 20 yrs Licensed AR
SE US
72 hrs/week
1 man firm
Pretty sad, there are only two independent specifiers so far willing to share their numbers…come on now, lets hear from all the rest of you lurking around…
They are all way to busy to respond -grin!
Busy, yes, but there’s always time for 4specs forum…or is that time for a Bud Lite…I forget the game was so bad yesterday and the commercials were even worse…creativity took a back seat this year…
Gross: $100K
Take Home: $80K
Experience: 25 years
West Region
20-25 hours/week
so what do you independents do for health care insurance? Is that included in your “Expenses?” Also what about any liability insurance?
Wife works for the health insurance.
No liability,
I pay for my own health insurance, very low liability insurance. Comes out of expenses, along w/ rent, professional memberships, travel expenses for conferences, publications, sponsorships, marketing, letterhead, office supplies, computers etc.
Is a wife a liability or asset?
2006 Gross: $312K (one specifier)
Owner’s Comp: $225K
24 yrs experience; 9 yrs F/T specifier
CCS, not registered
Mid-Atlantic region
8 days/wk (64 hrs avg)
Health, disability, life, prof liability covered as business overhead
8 days a week. Wow! You work more than me!
“Is a wife a liability or asset?”
What a stupid question…if your wife/husband is thoughtful enough to let you work as a independent specifier, than of course she/he is an asset! Long crazy hours doing what you like to do and be your own boss at the same time. Anonymous who came up with this question must be an idiot.
wow - i guess what they say about spec writer’s not having a sense of humor is true…
I have been considering taking the step into the world of indenpendant specifiers. And with the numbers being tossed around in this thread, may have made my decision. Any insight into that world would be helpful. Maybe in another thread that you could direct me to.
Step 1 - JOIN SCIP
Step 2 - make sure your spouse is securely employed and has health insurance provided. You are going to need that salary initially until you have built up your clientel. (I’ve been at it 4 years as an independant and my numbers are no where close to the the big guys)
Step 3 - Join a business networking group in your area in addition to CSI, to learn marketing skills you may not have needed when employed by a firm. ie BNI, Chamber of Commerce, etc.
Step 4 - Start setting up your office right away with the equipment and your working software that you will need, especially a good accounting program. That will be your biggest expense right out the box.
Step 5 - Give them your resignation but work out a deal to continue doing projects with your old firm as an independent. You will soon spread out, but that will be your best bet to keep bread on the table when starting.
Good Luck