Converting independent contractors to employees

by a searcher

11 months ago

Any suggestions for estimating cost of converting independent contractors to employees?

Looking at family cleaning business with labor force mostly independent contractors. Looking to professionalise and bring everything up to California labor code.

How would you estimate the per worker cost of converting min wage contractor to min wage employee?

0 likes
11 views
2 comments

intermediary from Harvard University

30 to 40% increase in cost at least once you factor in worker's comp, additional GL insurance, commercial vehicle insurance, adjusting their salaries, tax burden, and payroll fees. It is a BIG lift with BIG penalties especially in California.

5 months ago | like reply | 1 like

searcher

Looks like employees cost about 30% more than contractors: https://smallbusiness.chron.com/costs-employee-vs-independent-contractor-1077.html

11 months ago | like reply | 0 likes

More on Searchfunder

Just Closed on My First Deal! Reflections and Takeaways for other Searchers

45,152 transactions are available on Searchfunder (now searchable by keyword)

Now everyone has unlimited IBISWorld access

Family office looking for traditional searchers

Examples of self-funded searcher websites

Investor seeking Self-Funded Search Deals

What are market terms for Seller Notes?

2 Best Ways To Find Motivated Sellers, Off-Market Deals

Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.

We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.