Unpopular opinion: being an owner is hard. You think it's easy until $80k doesn't come in on time and you have to make payroll by mortgaging your house, or you have to wake up at 2 am because a developer got arrested by INS (even though they were a US citizen), or you have to deal with a $150K medical bill that your insurance wouldn't cover... etc... Or an employee tries to make a copy of your code and launch a competing business...
Life is hard.
I often wonder why the other painters working for him don't go off and start their own painting companies. Perhaps a few will. But I suspect many of them would not enjoy or be comfortable with spread sheets, business taxes, work insurance and some of the other things that go along with owning the company.
I suspect my neighbor, like many of us, fond those things to be fairly un-intimidating and so he owns.
I've got a very good friend who worked as a painter, did the 8-3 5 days a week gig for probably 8 years or so. He had no interest in running a business, managing clients, dealing with costing, estimates, etc. He just wanted to show up, paint and leave at 3.
> and some of the other things that go along with owning the company.
One of the big differences is what happens if there's no work, or if someone stiffs you or if the work required is substantially more than the estimate? In all three of those cases a business owner is in trouble, but the painter doesn't care.