Good questions.
I originally took this on as project manager, at a set hourly rate. Then soon created a company to handle all the paperwork and consolidate billing from dozens of different contractors.
Invoice the client once a month unless something big comes along that we need to purchase. Like 35k for outdrives, or painting the boat. Everything else I covered as needed.
Been a bunch of people worked on this project over the years. To the point that last year, it was getting hard to find anyone to just go for a ride.. I went thru like 5 helpers in 1 year in Florida. And every time ya take it out for couple hours, takes like 3 more hours to wash it and flush all the systems when ya get back to the dock. That's if nothing broke. So last 4 times she was in the water, I was flying solo. Making it far less fun, even on someone else's money. It's more of a crew sport..
So my partner and I had a chat few month's back about what he planned to do with the boat. And if we should put it back together as is, and be happy with 90mph, or continue to pursue 1000hp sustained. Which next step is new studs, and fire ring the blocks. Said we would make a decision right after his birthday, and he was gonna at least come go play with it for a month this summer.
A week after his birthday, he had a massive stroke and died. That was in April. So this project has been on hold, while I've been trying to help his family collect some other toys he left laying around the globe.
The plan for now is get everything cleaned up, back in the boat, and on the water. Maybe look at some sponsorship deals to cover expenses, and do a few events later this year with his son and some friends. She's way to close to quit now...
Sent from my SM-S901U using Tapatalk