11631RE: [infoguys-list] Re: Los Angeles, CA
- Dec 2, 2007I agree with Sue and Rick, although I'm not quite as pricey as Rick. Still,
I pay my subs well. I have raised my prices a couple of times in the last
couple of years, and each time business has increased. I can now live more
comfortably, and with a lot less stress, in part because I can now afford a
better quality of subs. My clients are happier with the work, and in many
cases their overall cost is the same or less, because I now have the
resources to complete assignments more quickly and with greater accuracy. I
have more successful outcomes, as well.
I just wanted to add to Rick's comment about charitable institutions that
many who run those institutions make very substantial salaries. Even
charities can be profitable.
I see in a later post that Mike says this is insurance work. He is correct
in that insurance work generally pays less. They are always price shopping.
Siedow & Associates Investigations
& Legal Support Services
2629 Foothill Blvd. #262
La Crescenta, CA 91214
Los Angeles County
CA PI License # 22852
800.448.6431 toll free
Member NCISS, IWWA
Need economical legal help?
Concerned about Identity Theft?
Check the links on my site, or contact me directly.
From: firstname.lastname@example.org [mailto:email@example.com]
On Behalf Of Ricky Gurley
Sent: Saturday, December 01, 2007 12:22 PM
Subject: [infoguys-list] Re: Los Angeles, CA
--- In firstname.lastname@example.org
<mailto:infoguys-list%40yahoogroups.com> , suesarkis@... wrote:
> Louis -
> You cannot have it both ways. You cannot want to locate GOOD
> investigators when you are only offering $30/hour. I laugh when Isee such
> nonsense. When I first opened my doors in 1976 as a solepractitioner having taken
> many years to accumulate my required hours, I charged $35 per hourback then.
> That was more than 30 years ago.Sue is RIGHT ON THE MONEY! I pay every investigator that I have
> You get what you pay for !!!
> Sincerely yours,
> Sue Sarkis
> Sarkis Detective Agency
subcontracting work from me at least $100.00/HR.; when I am able to
assign work to them. In my honest opinion, the hourly fee for a P.I.
subcontracting work should not be below $100.00/HR., and as long as
they don't try to "take advantage", they also have all reasonable
expenses paid. I also give them a retainer to start the work with.
And I still make money off of their work.
I am not trying to be offensive here, but when I see other P.I.s
offering $30.00/HR., and $50.00/HR., I wonder just how business savvy
they are? It does sound "business savvy" to reduce the subcontractor
rates and increase your profit margin on the surface; but if your
reduced rates are going to net you results that are poor in quality,
you are doing more damage to your company in the long run, and you
are setting yourself up to immediately lose a client. When you reduce
the rates that you are willing to pay subcontractors down to where
only desperate people will accept your offer, you are more than
likely not getting a subcontractor that will do quality work for you.
At the point that you have actually subcontracted a job to someone
that is willing to work for $30.00/HR., you have opened yourself up
to the possibility of having to have the work done over again,
perhaps having the case damaged beyond repair, client loss, a
potential law suit, and the possibility of damaging your company's
reputation. A profit of 85% is not such a good thing when you get
sued for three times the amount of money you made on the entire case,
or more. Nor are high profits a good thing if they affect your
overall industry reputation and cause you to lose work due to this
effect on your reputation.
I am not saying that you can't get a "dud" for $100.00/HR., what I AM
saying is when you pay a reasonable fee, you broaden your applicant
pool, thereby giving you more subcontractors to choose from, and you
give yourself a wider selection of quality investigators by doing so.
You will probably have to deal with the occasional P.I. that may try
to take advantage of your "generous nature", but you will probably
have LESS problems with this than you would if you continue to hire
at $30.00/HR.; because a quality, professional P.I. is going to make
sure that you fully understand the cost when you subcontract work to
him or her, and they won't deviate from the original agreement.
I guess one of the things you may want to consider in doing this is
upping your fee? I suppose it is possible that you might not be able
to afford much more than $30.00/HR. to a subcontractor? If that is
the case, your position is understandable, however you are doing
yourself a disservice if this IS the case. You should be charging at
least (the very minimum) $125.00/HR when you take a case.
You do get what you pay for. If you expect to get quality results,
then you have to pay for quality people. Let's not deceive ourselves
here; we are ALL in business to make money. There is no shame in
making money in business. If we wanted to be a charity, we would have
structured our companies to be charitable organizations. You have to
acknowledge this principle for your subcontractors, as well as for
Risk Management Research & Investments, Inc.
"He Who Forgets, Will Be Destined To Remember"
"You'll Find No White Flags Here"
MAIL BOX: 2101 W. Broadway PMB 326, Columbia, MO. 65203
OFFICE ADDRESS: 607 N. Providence, Columbia, MO. 65203
Phone: (888) 571-0958
Fax: (877) 795-9800
Cell: (573) 529-0808
[Non-text portions of this message have been removed]
- << Previous post in topic Next post in topic >>