Skip navigation

EDJ Startup/Ongoing Expenses

or Register to post new content in the forum

72 RepliesJump to last post

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Feb 7, 2008 4:47 pm

…but they should be…

Feb 7, 2008 5:16 pm

The hard thing for me to agree with was that my computer system was $1400…no not per year…per month!

  That was more than my office rent.   I wonder if that is the number for new new's working from home using a dial up laptop?
Feb 7, 2008 5:19 pm

it was a blast

Feb 7, 2008 5:24 pm

new new, laptop users…can any of you tell me how much you are being charged on your P/L??

Feb 7, 2008 5:24 pm
As far as expenses, I was told EDJ now covers 50% of postage.  I didn't get a clear answer on advertising, but I will ask the local EDJ FA about that tomorrow.  BTW his office faces a busy highway and the location couldn't be better.  He's been in business for 4 yrs.
Feb 7, 2008 5:45 pm

What’s wrong with Subway, I can smell the fresh bread now!  When I was at Jones there was 2 offices in town–mine at $500 a month rent in a storefront and another just down the street (We really could see each other’s office) and his was $1,800 a month + CAM…his office was a little larger but not $1,300 a month worth–all that went against the P & L so I was profitable faster than he was even though our sales were near the same.  Which as all you Jones folks know, means I got larger bonus checks!

Feb 7, 2008 6:45 pm

Assuming a 40% payout and $5,000 in monthly operating expenses…you will have to gross approx $13,000 per month just to breakeven.  Is that right?

Feb 7, 2008 6:51 pm

depend on BOA salary, location costs.  Mine was $17000 gross.  Does anyone know the P/L for the laptop? I bet that is a “hidden” cost.

Feb 7, 2008 7:21 pm
lambda:

Assuming a 40% payout and $5,000 in monthly operating expenses…you will have to gross approx $13,000 per month just to breakeven.  Is that right?

  Probably a little higher in high cost/rent areas (remember BOA pay, rent, etc. is a variable).  $13K might work with low rent and wages.  I would say $18K is about average.
Feb 8, 2008 4:00 pm

laptop cost irrelevant--counts against a bonus that you will not get anyway as a newbie.

Hardware/software P/L charge is 1250.00/mo after you trade your laptop for an office.

Postage is NO LONGER 50%. Jones covers phones instead.

Feb 8, 2008 4:13 pm

I was fired from Jones producing in the high 13’s on a 4 month roll out between 5 and 6 years. But now I’m Indy and I’m making much more $$$ without the stress and have 2 reps on board under my office of supervisory jurisdition. How bout them apples. Now my 4 month average is who cares divided by eat shit.

Feb 8, 2008 4:33 pm

Irrelevant???? Negative debt carries over till profitability.  It is highly relavant...but I bet no one can come up with the dollar number since it is high enough to buy 4 of those old laptops in one month.

indythankgod,

congrats! did they raise the min to 18K?? 

Feb 8, 2008 6:11 pm

Yes they did change the quota to 18 from 14 per month. Thats a 48,000 increase per year for every IR. OUCH! Higher quotas and mandatory fee base license for every IR helps to increase the value of Eddy. I smell something.

Feb 8, 2008 6:34 pm

Indy, were you “fired” because you couldn’t meet the quotas?  I thought that if a rep followed EJ’s method of 25 contacts per day (meaning people you actually had a conversation with concerning their financial needs) that you could do well…

Feb 8, 2008 6:44 pm

I had about 15 5-10 year brokers in the 10-20K gross per month range.  I’m sure they smell it too

Feb 8, 2008 7:04 pm

[quote=Broker7]

Irrelevant???? Negative debt carries over till profitability.  It is highly relavant...but I bet no one can come up with the dollar number since it is high enough to buy 4 of those old laptops in one month.

[/quote]

Sorry, you don't have a balance sheet at the branch level.  EDJ absorbs the deficit.  Nothing "carries over".
Feb 8, 2008 7:34 pm

thank you; it was irrelevant. Not everything at Jones is horrible (good place to start, and this is one reason)

Feb 11, 2008 2:52 pm

Lambda if it were that easy there would not be room for you have this opportunity because everyone would make it. Jones and all other firms have lots of turnover for a reason. Its tough. There are many many variables that affect your success or failure in this business.

Feb 11, 2008 6:31 pm

[quote=Broker24][quote=Broker7]

Irrelevant???? Negative debt carries over till profitability.  It is highly relavant...but I bet no one can come up with the dollar number since it is high enough to buy 4 of those old laptops in one month.

[/quote]

Sorry, you don't have a balance sheet at the branch level.  EDJ absorbs the deficit.  Nothing "carries over".[/quote]   DEFICIT I would think they could make up all  of it with the laptop rental profit center and the meager payout and huge profit center for billing reps leaving for training costs     
Feb 11, 2008 7:30 pm

I had conversations with other EDJer’s and one thing that I didn’t realize was a direct factor to success was location.  You would think that big towns have more potential than small towns.  But that is not the case according to those with experience.