My first time posting, I’m a notary in TX. Got started in August and I’m still in it! When I am at a job I always notice people ask me “are you always busy?” And I never know how to respond… so what are some ways ya’ll measure your success? How did you know that this was something you could really enjoy and take to the next level … is it worth the investment in advertising etc.
Since Now and August I’ve generated about 2K in revenue; about 40 RON and 30 in person. 1 residential loan package (that was successful ) I’m doing this part time, I’m a professor by actual trade. Definitely welcoming feedback on how to take my efforts to the next level! Not necessarily looking for this to be full time, I’m moreso interested in working w/ 2-4 firms/title companies that supply steady business (or is that considered full time?) .
Believe you are doing this way too cheap. i don’t do RON, but think they pay $65. That alone is $2600. Add 30 in person, even at a low of $100/job is another $3000. Total s/b $5,600 minimum. And that assumes your travel was minimal also.
For in-person signings, many areas of the country don’t offer enough general notary work (GNW) to make it worth running a mobile notary business serving the GNW market. This is because the overhead (notary commissioning, E & O insurance, more expensive car insurance, more complicated tax returns, etc.) isn’t worth it for a small number of trips. So most of the mobile notaries have relied on loan signings for most of their business. Counting every signer’s signature on any notarized document as a separate notarization, there may easily be 20 notarizations per package, so the lawful notary charge (if the state controls this) is usually higher than what the notary can negotiate with the hiring entity.
For RON, I’ve never done it. But from what I’ve seen on the net, there tends to be two different workflows. For one page documents, it is, like you say, $25 paid by the signer, and the notary gets part of that, the platform (one way or another) the rest. Loan signings are a package price for the notary: fixed price no matter how many notarizations it turns out to be. No idea how the signer gets charged but it’s all built into the loan fees.
Well… I mean the post to ask for advice, but I guess when I gave numbers you immediately commented on that and not the advice. If you scrolled to the bottom, you can see my goals and where I’d like to see myself.
I am new….Nobody’s gets into this wanting to stick with GNW… but everyone seems to be incredibly secretive about what they charge and how they grow their business so I’m figuring things out as I go.
Just trying to make sure this stays along the side of helping me
On the right side of the top of page brown bar, there is a barely visible grey magnifying glass (left of your photo). That is a very powerful search feature to uncover all the (not so) ‘secrets’. There is a literal gold mine of info on this site via this feature. All your questions have been asked and answered many times right here.
$25 per notarization. Granted loan signings are calculated differently, but here’s your issue - stop thinking like an employee and start thinking like a business owner. You don’t charge for only the notarizations - you charge for the tech and other factors included in your business operations and for that I refer you to the search function here - there are a LOT of things to take into consideration when running a business.
. . . but it appears you’re asking forum members to perform the Research for you.
As I posted in another thread to you, here’s how to discern valid & valuable data/information about this topic, vetting clients, whether or not to continue as a Professional Signing Agent [PSA], etc.:
It’s always wise to research & vet a new client prior to providing a definitive confirmation to them for your initial Signing Order for them. A great start of research would begin within the Notary Cafe forums Search Function.
Most members find it difficult/nearly impossible to locate the Search Function in order to access the wealth of info available within the database.
To be helpful, I’ve inserted an image for you & others [see below] to help members locate it to unlock the wisdom & knowledge of other members on the forums.
Hello, and Welcome I absolutely love being a mobile notary. I really enjoy meeting everyone 2 legged and 4 LOL! Lots of Pets. I keep very busy, even being in somewhat of a rural area…I don’t really know how to measure my success other than the amount of signings I am offered, the positive feedback received and getting work directly from title companies the further I go. I am about to celebrate 3 years with this. I really like the flexibility of the work the most. This has been wonderful. I do not have any RON experience and in Michigan…and I may be corrected, it doesn’t seem there is as much? I mainly do everything pertaining to real estate so far…I think this would compliment your work as a professor because of your breaks with sessions? So that is great!!! I don’t spend much in advertising other than a google page, the Notary Cafe, and the NNA membership…I maybe leaving a lot on the table by not advertising more, but I find I am plenty busy. Oh and business cards I also consider what I am doing part time. I wish you much success! In both of your professions!!!
I too started in September 1, 2023, quitting my corporate america job in August and I have been measuring my success based on what I’ve heard others talk about. It started out very slow but by the 3rd month I had made the same amount as my corporate job. Could I pay myself?? a little but not enough to live off of. I am only on one RON platform and I’m never near my computer when they come available and I haven’t had anyone that I know that has needed anything notarized to bring them to the platform. I am not one for advice, but just don’t give up! That is what I am staying focused on.
I am not always busy but the end of the month is definitely busier and I’m building relationships so I believe it’s just a matter of time.
Congratulations on trying something new but should keep your day job. What type of professor are you? I’m 74 and my best friend since I was 14 is a professor and she could never get a good paying job so she married a millionaire instead. Success in any business is when you at least break even or make a profit which your accounting data should evidence. Have you set up your accounting system showing expense and income yet? This would be applicable to any business venture. This forum provides a lot of information on the search area but remember you are in a business world where no one will provide you all the information you need. Happy researching !
Create a P&L spreadsheet entering all expenses (reference Item 1 above) and entering all income (reference Item 4 above)
The “Net” result at the bottom of your P&L spreadsheet will ANSWER whether you’re being successful (or not).
Also, please review all the threads that have been provided directly to you via your moniker as they provide a Wealth of Expert Guidance/Information.
Regarding the following statement you made above . . .
As you have intimated, you’re new to this business sector. As such, you’re likely NOT cognizant of the potential “price fixing” scenario that would be present if the specific numbers you are asking for were provided. For this business sector, that scenario has been a primary objective of the Department of Justice [DOJ]. For a recent reference, please review the following recent post:
Regarding your statement as follows:
There are pages & pages with lists of texts to learn from on Amazon about just that topic! In addition, there are texts that are specifically TAILORED to specific states.
So, there is a WEALTH of information readily & easily available with the touch of a few keystrokes.
Considering my longstanding, active & current professional experience, I can state, though, that most of the texts found on that venue are NOT ones I’d invest in purchasing. They’re mostly selling you the “sizzle” & NONE of the “steak.” I can make this statement, because over the years I’ve purchased many of them & found them sorely lacking in substance.
With that said, there is ONE text that have purchased & gained an IMMENSE amount of wisdom, support, & guidance from reading => “Marketing Your Non-Loan Notary Services” by Laura Vestanen. The price is QUITE reasonable at a mere $15. This text will be instrumental in guiding you to effectively & efficiently expanding your business.