How do I hire 10 people without paying a fee?
I need to hire for construction clean up at $10/hour. My construction company is just a few months old and operating on a very limited budget. Is there a way to hire at no expense?
You are running a business that you expect income from it, not an NGO or charity organisation. It's a business, not slavery. Look for less cost individuals instead.
You can't operate a business without at least financing the direct costs, such as labor. You must find a way to raise working capital for your business's long-term survival. If you don't have the means to raise the necessary capital, there are ways to do this by using other people's money (OPM). Check out this article for useful information on how to go about this - https://gsmbizsystem.com/obtain-business-financing-opm.
In the meantime, if you have a contract for your job and are pretty certain that you will be paid, then you may want to use your personal or business credit card to finance the labor. Look at this as a bridge financing that you repay as soon as convenient. You may also be eligible for an MCA (merchant cash advance) from your credit card company.
Keep in mind that these are all temporary measurements to permit you to complete the current construction project. In the long run, you need to establish your business on a firmer financial footing. OPM may be a way for you to accomplish this.
Some ways to consider:
1) Get clients to pay-up-front for your clean-up services. This allows you to take those funds and directly pay your employees
2) Get an angel investor or partner to supply the funds at some % of your company
3) Look into interns and apprenticeships
4) Offer your employees a % of the company, % of the profits or % of each sale you make
5) Subcontract to other vendors such that the client pays the vendors fees, plus your management or consultant fee
It is unrealistic to think it's not going to cost you something.