Gunsmith position at Korth Group - position filled

[mwjones]

What certification are you looking for, exactly? Gunsmith is not a regulated trade in Canada...

 

[robak1]

Most people don't realize how little money businesses actually "put in the bank". With the rising operating costs, the taxman, and the consumer demanding cheaper product/service, there's literally nothing left. Most retailers will not survive minimum wage going to $15/hr because the economic output of these employees is less than $15/hr.

Its about EBITDA and ... Return on Assets.

I could bet you a steak dinner that the costs of Korth's physical assets (lathes, CNC machines, etc) will greatly exceed the costs of their labour for many years to come..... for all any one here knows, the payback period on their phyiscal assests could be 20 years.

I work in P&L accounting for a major player in the grain industry.

Its always interesting to listen to people outside of the industry carry on about the 100s of millions dollars that any one of the companies has made in any given year.

I hear stuff like "Its seems so unfair that they make soooo much money" ......then I usually respond ....

" well.. do you have any idea how much it cost to built any one of our concrete grain elevators in the Prairies ?
Do you how much it costs to build just one of our export terminals in Montreal / Thunderbay / Vancouver ?
Do you how much it costs us to acquire the grain that is sitting in our elevators/export terminals ?

Billions and billions in costs.... so if the industry players are not making 100s of millions, then our shareholders will start firing people and will hire new people that will.

 

[Fisherguy55]

Its about EBITDA and ... Return on Assets.

I could bet you a steak dinner that the costs of Korth's physical assets (lathes, CNC machines, etc) will greatly exceed the costs of their labour for many years to come..... for all any one here knows, the payback period on their phyiscal assests could be 20 years.

I won't comment on the low wage itself but I can vouch for food producers in southern Ontario decide which upgrades to do based on asset payback under 5 years. One client told me 2 years gets an immediate authorization and they wouldn't touch a 20yr commitment aside from the building itself, which in the GTA seems irrelevant

 

[ashwood]

Alot of ignorance in this thread, on a gun forum no less.

You can say that again! Forget about gross revenues, capital costs and profitability, these maybe have relevance in settling a union collective agreement but they don't factor into what a gunsmith gets paid. If its the market wage, if there is such a thing in Canada, which I doubt, then ok and Korth should be able to get a gunsmith. If not, then raise the offered wage.

 

[thegazelle]

-Absolutely young Jedi Let's run a quick P&L on this:
-Annual revenue $5MM
-Blended product/service margin 15% (just an assumption based on knowledge of similar businesses I work with)
-We are left with $750K to cover COGS and all overhead. Let's assume $100K for rent, utilities, insurance, write-offs,...list goes on ($100k is very conservative)
-Add 10 employees at $50K a pop (more like $75K after benefits) and you're left sweet Fvck all

So yes, revenues are completely irrelevant when it comes to the health of a business ,EBITDA is where it is at

Yup, the TSX venture exchange (heck, even on the regular TSX), there are many companies which have revenues in the 50 million or more (sometimes hundreds of millions), but they still have no earnings/profit. In other words, they are still paying out more than they take in. Lots of startups are like this but even some companies that have been around for a few years. You can't look at revenue alone for a clear picture of financials. For those who may not know, EBITDA is Earnings Before Interest, Taxes, Depreciation and Amortization.

I have two family members - one has an MBA, makes 180K a year, has a big house and a nice car, but is significantly in debt to keep up with the Joneses. His net worth is very low, despite what the social optics may seem. The other is a regular Joe, has a 80K job, small bungalow, old Toyota 4 Runner, wears sweatpants that have thinned out to pantyhose quality, and yet he is a millionaire many times over due to shrewd investments, living way below his means and no debt.

Sometimes, things are not quite how they seem.

At our workplace, we have project managers making from 50K all the way to 260K. That is a very wide variance, but as others have said, that is based on experience, qualifications, etc. The average project manager out there may see the 50K starting salary and think it is an insult. But based on the job climate with covid, their own circumstances, and their ability to prove themselves or get their foot in the door, they may decide to take the job. They won't stay at the starting wage for long if they are that good and the company wants to retain them.

Also bear in mind with increased operating costs such as higher wages, this most certainly will be passed on to the consumer. I remember talking with people years ago and they were saying how disgusting it is that most of our clothing manufacturing has been farmed out to third world counties and cheap labour, and they were saying how all this should come back to Canada and the US. I remind them that if this was the case and we are now paying whatever minimum wage in Canada/US to pay people to make clothing, the average cost of a t-shirt will probably be like $50.00 instead of $10 or $15 (or lower). Before covid, I worked in a very very fancy state of the art corporate office tower. It was owned by our client, a global financial services company. Their fees and prices are much higher than similar companies, and this is not surprising, since their sales force is compensated very well and the corporate amenities are quite nice. Having higher operating costs will lead to higher prices to the consumer.

Companies have a right to pay whatever they feel is fair. As always the law of supply and demand would dictate compensation. If no one applies, they may increase the starting compensation offer. It is at each company's discretion. They are the ones who have to mind their bottom line.

 

[kamlooky]

Alot of ignorance in this thread, on a gun forum no less.

And Korth has the ability to delete said posts iff'in they wish.
Sure shows me the back bone and payshints this company has.

I'm hoping that they will fit the position with a character that will grow with them
and become a huge asset to Korth.

Sum awn'ear need a definite ............................and a place in the corner with
the pointy capellah.

 

[Johnyy]

I "built" an SKS once, & listed it for $11000 on EE...does that count for experience ..?

I think allot of us are 'Ammature' Gunsmiths on here...is there some kind of Official licensing process in Canada? Or just Experience/ Apprenticing /training?