Every year, people compile lists of the highest-paying trade jobs, and surprisingly, these jobs remain largely unchanged year after year. Everyone knows that plumbers, HVAC technicians, and electricians make substantial money and are among the top-paying jobs in the trades. But what about the hidden jobs within the trades that aren’t widely discussed? These are jobs where you can make incredible money, sometimes as much as a plumber, HVAC technician, or electrician. In this blog post, we will explore three hidden trade jobs where you can make exceptional money this year.
The Power of Owning Your Own Business
Your ability to make significant money ultimately depends on your ability to work for yourself and own your own business. For example, a plumber working for a private company can make about $65,000 a year. If they join a union, that number can jump to around $120,000 a year. However, if they start their own business and work for themselves, they can make upwards of $300,000 a year. By building a team of 5 to 10 people, or even scaling up to 15 or 20, their take-home pay could be between $300,000 and $1 million.
For this post, we will assume you are the owner-operator of your own business, probably working for yourself, with plans to hire 1-3 employees down the road.
1. Septic Truck Owner
You might have seen septic trucks driving around, but did you know that a septic truck can make between $500,000 and $1 million a year just by pumping out people’s septic tanks? The demand for this service is off the charts, with many companies unable to keep up with the requests.
Revenue Breakdown:
- Average Charge per Tank: $700 to $900
- Tanks Pumped per Day: 5
- Daily Revenue: $3,500
- Annual Revenue: $1,092,000
Cost Breakdown:
- Disposal Costs: $1,000 per day
- Fuel Costs: $200 per day
- Maintenance and Insurance: $200 per day
- Annual Costs: $436,000
Annual Gross Profit: Approximately $656,000
Additional services like pumping grease traps for restaurants or renting out porta-potties can further increase your revenue.
2. Basement Waterproofing Technician
Basement waterproofing is a lucrative job, especially after heavy rainfall. Homeowners want to protect their basements from unwanted water and mold.
Revenue Breakdown:
- Average Charge per Job: $4,500
- Jobs Completed per Week: 3
- Annual Revenue: $686,000 (assuming 6 working days per week)
Cost Breakdown:
- Material Costs: $300 per day
- Fuel Costs: $100 per day
- Maintenance and Insurance: $200 per day
- Annual Costs: $187,000
Annual Gross Profit: Approximately $499,000
This job is less affected by seasonality since you can work indoors year-round.
Conclusion
Hidden trade jobs like septic truck ownership and basement waterproofing offer incredible earning potential. By starting your own business and eventually expanding your team, you can significantly increase your take-home pay. These jobs are less discussed but provide substantial financial rewards and opportunities for growth.
FAQs:
Q1: How much can a septic truck owner make annually?
A1: A septic truck owner can make between $500,000 and $1 million annually, depending on the demand and number of tanks pumped.
Q2: What are the costs associated with a septic truck business?
A2: Major costs include disposal fees, fuel, maintenance, and insurance, totaling approximately $436,000 annually.
Q3: How much can a basement waterproofing technician make annually?
A3: A basement waterproofing technician can make approximately $686,000 annually, assuming they work six days a week.
Q4: What are the costs associated with a basement waterproofing business?
A4: Major costs include material expenses, fuel, maintenance, and insurance, totaling approximately $187,000 annually.