Earnings

[ppentertainments]

Bit of a nosey thread here - sorry if in the wrong section.

We often here about what people charge etc, but how much money do YOU actually make from your business ?? I am not talking about what you charge, but what your yearly personal income is.

I have added a poll as don't want to become too personal asking for figures.

So to reiterate this is for your total yearly personal income.

[Penfold42]

Bit of a nosey thread here.
You said it.:)

I very much doubt if you get a lot of replies to this question....:)

[rob1963]

Bit of a nosey thread here - sorry if in the wrong section.

We often here about what people charge etc, but how much money do YOU actually make from your business ?? I am not talking about what you charge, but what your yearly personal income is.

I have added a poll as don't want to become too personal asking for figures.

So to reiterate this is for your total yearly personal income.

I'm already more open about my business & how I run it than many on here, but I draw the line announcing how much I earn.

I can't think of anything more personal, and suspect most others will feel the same...so I wouldn't hold your breath waiting for votes.

:shrug:

[DJNutter]

:zip: Basicly, Sorry

[ppentertainments]

That is what I suspected, so put up the private poll just to see. :D

[Pe7e]

That is what I suspected, so put up the private poll just to see. :D

Since it's anonymous, I don't see why people wouldn't vote, whether they will tell the truth or not, is debatable, therefore the value of any conclusions drawn is in doubt.

[Mark Wild]

:d

[Charlie Brown]

This past year I have brought in just over £5500 but I have spent a lot of money on equipment, music and transport, so technically my out goings have been higher than my income.

Hopefully next year it will run more like a business...

[ppentertainments]

whether they will tell the truth or not, is debatable, therefore the value of any conclusions drawn is in doubt.
Something I suspected, however, one would hope people would not scupper this, or any poll, and simply refrain from voting if they do not wish to divulge.

[NKR]

Is it possible to make £35,000 plus from mobile DJ'ing? After costs?

Crickey that is going some.

[rob1963]

Is it possible to make £35,000 plus from mobile DJ'ing? After costs?

If you're a one man band, it's probably unlikely.

However, if you have other DJs working for you & can put out something like 6 discos every Friday & Saturday, I'd say it's quite possible.

After all, that only equates to a profit of £675 a week.

[Solitaire Events Ltd]

3 people taking 35K must be fairly close to Vat registration I would have thought unless your expenses are very low.

[rob1963]

Unless some people aren't being honest when voting.

Call me cynical, but I'll be taking the poll results with a pinch of salt.

:shrug:

[Richie]

3 people taking 35K must be fairly close to Vat registration I would have thought unless your expenses are very low.

Thats round about the 60k mark I think.

[Solitaire Events Ltd]

Thats round about the 60k mark I think.

I know that Richie - I am vat registered. I am just saying, to make £35K profit - and I assume we are talking about net profit and not gross, then I would have thought that you need to be grossing a lot more than that.

[Pe7e]

3 people taking 35K must be fairly close to Vat registration I would have thought unless your expenses are very low.

The current VAT threashold is £68,000, there's plenty of scope for £35K and more, provided the overheads are under control.

[Solitaire Events Ltd]

There is a poll somewhere which talks about operating expenses. Go and look at that. Most people have operating expenses of over £100 per booking. It doesn't add up. Most regulars on this site charge between £200 - £500 a booking and the minimum operating cost per booking is £100? I can't imagine that all this stacks up.

[SC Events]

Since the 1st January 2009, I have earnt around £5,000.

The money has helped me to upgrade and buy me a fair bit of equipment and also enable me to fly every 1-2 weeks. Some of it goes back in to my "business" bank account and the rest goes in to my "Personal" bank account.

.................I'd still like to earn more though :D

[Larry B Entertainment]

Since the 1st January 2009, I have earnt around £5,000.

The money has helped me to upgrade and buy me a fair bit of equipment and also enable me to fly every 1-2 weeks. Some of it goes back in to my "business" bank account and the rest goes in to my "Personal" bank account.

.................I'd still like to earn more though :D

Wouldnt we all :Laugh:

[Richie]

I know that Richie - I am vat registered. I am just saying, to make £35K profit - and I assume we are talking about net profit and not gross, then I would have thought that you need to be grossing a lot more than that.

Sorry Daz, I see what you mean now. :)

[DJWilson]

Since the 1st January 2009, I have earnt around £5,000.

The money has helped me to upgrade and buy me a fair bit of equipment and also enable me to fly every 1-2 weeks. Some of it goes back in to my "business" bank account and the rest goes in to my "Personal" bank account.

.................I'd still like to earn more though :D


Dont we all? :cool: :D :)

[A1DL]

The current VAT threashold is £68,000, there's plenty of scope for £35K and more, provided the overheads are under control.


Pete, you are stating that on sales of just under £68k, it is possible to make £35k net profit before tax.

Perhaps you can explain this business model?
What percentage of sales are labour and advertising?

Either your numbers are ridiculous, or I should be offering you a 6-figure sum for an FD's position.

[ppentertainments]

TBH it is partly due to the VAT registration implications I started this thread. In order to obtain my 'desired income' I need to start thinking about this. I just wondered if my expectations from the business were unrealistic.

Still hard to tell due to what I imagine is false voting.

[rob1963]

I'd still like to earn more though :D


Wouldnt we all :Laugh:

I wouldn't!

If I wanted to, I could double my disco turnover overnight & therefore increase my profits big time, but I choose not to do this...because I'm quite happy as I am.

It's not always just about earning as much money as possible.

[[email protected]]

TBH it is partly due to the VAT registration implications I started this thread. In order to obtain my 'desired income' I need to start thinking about this. I just wondered if my expectations from the business were unrealistic.

Still hard to tell due to what I imagine is false voting.

Reading the OP, are we talking about your earnng from your business in general ie all revenue streams or just from DJing?

I'm guessing from your opening thread you were talking about your business as a whole, photography and DJing?

[ppentertainments]

Reading the OP, are we talking about your earnng from your business in general ie all revenue streams or just from DJing?

I'm guessing from your opening thread you were talking about your business as a whole, photography and DJing?
DJ'ing and related streams. I know not very precise but hard to distinguish what is part of a mobile dj business and what isn't.

[simonp]

Since it's anonymous, I don't see why people wouldn't vote, whether they will tell the truth or not, is debatable, therefore the value of any conclusions drawn is in doubt.

Spot On

[Pe7e]

Pete, you are stating that on sales of just under £68k, it is possible to make £35k net profit before tax.
Yes it's certainly possible


Perhaps you can explain this business model?

I wasn't aware I said I was earning this ;) but if I was, I'm not naive enough to publish commercially valuable information :zip:



What percentage of sales are labour and advertising?.
I don't employ any labour other than my own, and my 'purchased' advertising is minimal. Most jobs come from word of mouth, networking and generic search engine placement. I have a rigid set of parameters which must be met before I take a job on, if it doesn't meet these, the job is turned down. I don't travel the country chasing jobs that only return a pittance after overheads are taken out. As you are aware, overheads are a real drain on business finances, my own overheads are very low. I pay no rent, no UBR, no labour costs, and have no PAYE and VAT to account for or pay. I have every intention of keeping it that way, the percentage of profit to turnover is consequently high. Many businesses seem to equate profitability to turnover, but nothing could be further from the truth.


Either your numbers are ridiculous, or I should be offering you a 6-figure sum for an FD's position.

I doubt my figures resemble yours in any respect, I've operated my business with a different set of priorities and goals, since I stopped chasing that pot of gold at the end of the rainbow. I've been in the position you are probably in now, rent, rates, work force, paye, vat, and NIC etc, to make. And targets to meet every month, before you start to put any cash into your own pocket. I really wouldn't want to go back, and do that again, small is beautiful.

[wensleydale]

i think there is some confusion here between turnover and profit and I am not entirely sure what the op was asking.
even if I was I dont think I would be too keen on sharing.

All I will say is that I dont earn enough to give up the day job! Not that I am sure I would do even if I could.

[NKR]

I couldn't make enough to give up the day job. However, I now couldn't give up the weekend job as the current financial climate and a little one has turned a hobby into income we need since Mrs NKR went part time.

[rob1963]

Interesting poll results so far.....virtually one in four of all voters is making £35k or more from their business.

Oh look.....there goes another flying pig.

:bang:

[DazzyD]

Is it possible to make £35,000 plus from mobile DJ'ing? After costs?

Crickey that is going some.

I know of a guy (multi-op) that I would guess comes close to that. He provides more than just discos though - resident karaoke, quiz nights, fun & games, amongst others. From Friday to Sunday, he has the capacity to put out over 21 shows (not including having one person doing two shows in a day - ie a Christening on a Sunday afternoon and then a karaoke on the night). Saying that, recently work seems to have slackened off for him a bit so he could be looking at an income cut for this year.

I've made very little from the shows this year for two reasons. The first one is that I was planning on taking the year off as we had a son born in March and I wanted to spend more time with the family. Also, I've invested a lot of money in our new project due for launch soon. So, me personally, I've made less than £1,000 in this financial year but I'm expecting that the increase dramatically next year.

[NKR]

Interesting poll results so far.....virtually one in four of all voters is making £35k or more from their business.

Oh look.....there goes another flying pig.

:bang:

Thats why they are making so much!!!!! Flying pigs beats anything I can put in my show. And pigs are quite low maintenance. :D

[rob1963]

Thats why they are making so much!!!!! Flying pigs beats anything I can put in my show. And pigs are quite low maintenance. :D

:Laugh:

If one in 4 people are making at LEAST £3,000 a month from their business it makes you wonder why so many of them keep the day job!

:D :D :D

[Corabar Steve]

Oh look.....there goes another flying pig.


:fp:

[BeerFunk]

Let alone the votes - there are one or two posts in this thread which must be accompanied by a large dose of salt... :)

[Pe7e]

:Laugh:

If one in 4 people are making at LEAST £3,000 a month from their business it makes you wonder why so many of them keep the day job!

:D :D :D

Playing the 'Devils Advocate', it appears that almost half of the forum make less than £100 a week, it makes you wonder why they are working for so little and distorting the publics perception of what a DJ should cost, doesn't it?

[BeerFunk]

Playing the 'Devils Advocate', it appears that almost half of the forum make less than £100 a week, it makes you wonder why they are working for so little and distorting the publics perception of what a DJ should cost, doesn't it?You are wrongly assuming that everyone DJs full time, and goes out every week.

[ppentertainments]

You are wrongly assuming that everyone DJs full time, and goes out every week.
Which is one angle for this thread - how many people do ACTUALLY make a living from this.

[Pe7e]

You are wrongly assuming that everyone DJs full time, and goes out every week.

I think Robs equally guilty of assuming the 7 high earners have day jobs to keep.

[rob1963]

I think Robs equally guilty of assuming the 7 high earners have day jobs to keep.

I feel another poll coming on.....

[wensleydale]

And I think that's hit the nail on the head- what you earn from a part time activity or, dare I say it, hobby, is very different to what you would need to earn if you go full time.

Also your situation will also dictate requirements- eg someone with kids and a mortgage will need more than someone without kids and a mortgage free abode.

[NKR]

We made £278.26 net profit before tax for 2008/2009. That's living alright.

I haven't actually ticked the survey box so I am not one of the ones working for nothing. Split between 2 of us thats a whopping £2.68 a week each.

Lots of costs from resetting up from almost scratch though. It will improve.

[ppentertainments]

Also your situation will also dictate requirements- eg someone with kids and a mortgage will need more than someone without kids and a mortgage free abode.
Very good point. I am now full-time and am meeting requirements, but only just and thankfully my wife has her own business also which is successful.

I would imagine my outgoings would shock a lot of people :( , but the plus side is hopefully mortgage free before I am 40 :cool:

[rob1963]

I would imagine my outgoings would shock a lot of people :( , but the plus side is hopefully mortgage free before I am 40 :cool:

That's very sensible, because mortgage rates might be low now, but that won't last too long, and by clearing your mortgage early, not only do you remove one of your biggest monthly outgoings, but you also save a fortune in interest.

I cleared my mortgage three years back & it was one of the best things I've done, as it will literally save me tens of thousands of pounds in interest over the 17 years from when I cleared it through until my 60th birthday.

In the old days it was worth keeping a mortgage due to the tax relief, but that's just about all gone now, so the sooner you can clear it the better.

[Solitaire Events Ltd]

That's very sensible, because mortgage rates might be low now, but that won't last too long, and by clearing your mortgage early, not only do you remove one of your biggest monthly outgoings, but you also save a fortune in interest.

I cleared my mortgage three years back & it was one of the best things I've done, as it will literally save me tens of thousands of pounds in interest over the 17 years from when I cleared it through until my 60th birthday.

In the old days it was worth keeping a mortgage due to the tax relief, but that's just about all gone now, so the sooner you can clear it the better.

While that may be true, it doesn't necessarily help people with kids who would rather spread the expense over a longer period.

[rob1963]

While that may be true, it doesn't necessarily help people with kids who would rather spread the expense over a longer period.

That's fair enough, Darren. What we're able to do about our mortgage depends entirely on our financial situation & our priorities.

For me, clearing it was my top priority and everything else (including holidays, going out, eye surgery, disco gear, replacing stuff in my flat etc) therefore had to wait.

However, I can fully understand that some people either can't afford to clear their mortgage early or wouldn't want to make the sacrifices I did in order to do so.