Masonry is a time-honored profession that has been around for centuries. Modern masons are highly skilled professionals who use their expertise to create beautiful, functional structures.
If you’re thinking about starting your own masonry business, you may wonder how much you can expect to earn as an owner.
As with any business, income for masonry businesses can vary greatly depending on several factors. The size and location of your business, the type of work you do, and the demand for your services all play a role in determining how much money you’ll bring in each year.
However, some general trends can give you an idea of what to expect regarding your masonry business owner salary.
How Much Do Masonry Contractors Make?
Masonry contractors charge an average hourly rate of $34.98 for their services. This can vary depending on the region and type of work being done.
In general, the more experienced a mason is, and the more specialized their skillset, the higher the rates they can command.
This, of course, is just for a single set of hands. As a business owner, you can leverage people and thus increase your overall earnings. So let’s break this down further.
1 Man Band
If you’re just a one-person band, you’ll find it challenging to increase your earnings considerably, as your time will be the scarcest resource. According to Salary Expert, you can earn between $50,831 and $87,066 per year as a mason.
Pro-Tip: If you are new to the masonry trade, getting a good work foundation is best before considering hiring a new set of hands. Being self-employed is one thing, but having someone who relies on you financially brings its own risks to the business, so move slowly when looking to expand.
Each Additional Team Member
As your business grows, you can hire more masons and subcontractors. Each additional team member adds valuable capacity for taking on larger projects and helping with day-to-day operations.
You can expect a significant increase in your earning potential with each other employee. Here is a breakdown of the numbers.
As a single trade person, you can earn up to $87,066. Let’s take the average figure and say each mason within your business will make the company $70,672 annually.
You’ll need to pay each mason, starting at $50,831 annually. So if you take the difference between these two figures, you will find your business’s overall profitability per mason. Here are the numbers:
$70,672 – $50,831 = $19,841
You can expect a profit of up to $19,841 per additional mason you hire in your company.
The Finer Details
Some additional overhead costs come when you hire staff. Such as payroll software costs, transportation & fuel, insurance, additional tools, and uniform. Here is a breakdown of these costs per year.
- Payroll software per employee – $180
- Transportation & fuel (per employee, not per vehicle) – $3000
- Insurance – $600
- Tools – $1200
- Uniforms – $500
From these figures, we would be looking at a cost of around $5,480 per year per worker.
$19,841 – $5,480 = $14,361
Therefore, on average, we expect to profit around $14,361 per mason worker added to your team. The significant part about this is that your earnings can increase dramatically the more stuff you get. But with this comes a new set of problems.
Challenges to Owning a Masonry Business
It’s important to remember that some challenges are associated with owning a masonry business.
- One of the major pitfalls is that you must meet specific safety and compliance regulations, such as certifications, licensing, and insurance, to operate legally.
- You must also ensure your team has the proper tools and training to keep up with the demands of your clients.
- Additionally, you’ll need to ensure that your staff is adequately compensated and has access to proper protection for them to work safely on any project.
Lulls in Work Demand
When you expand and bring on more workers, your need for more work becomes apparent to fill your worker’s time. This can lead to lulls in the demand for masonry and an inability to meet financial goals.
This is why it’s essential to plan, budget, and diversify your services so that you can continue to make a profit regardless of how busy the industry is at any given time. Having a financial cushion is paramount for a long-lived business.
Overall, a masonry contractor salary can be high if the contractor adequately manages their budget, staff, and services. Keeping these tips in mind and building a network of reliable workers can significantly increase your earnings potential as a masonry business owner.
With dedication and hard work, you can become an industry leader in the trade field and make an excellent living for yourself.
How much profit can I expect to make with additional masons?
On average, you can expect a profit of up to $14,361 per mason worker added to your team.
What additional costs should I plan for when hiring staff?
Some additional overhead costs come with hiring new staff, such as payroll software costs, transportation & fuel, insurance, other tools, and uniform.