Engine builders...this machining cost sound excessive?

"What about all of the things shop owners DON'T get paid for?
*Dealing with customers who want something for nothing.
*Babysitting those who do not understand the process, but still complain
*Covering all of your bases, so that you're not married to the job for the rest of your businesses life
*complying with OSHA, EPA, city and county regulations, Fire Dept, Workmans Comp, Etc.
*sitting on completed work, cause the customer is in jail
*lost labor, cause the customer changed their mind and abandoned the project
*projects brought in, in a crate (parts missing)
*ETC"


See, this is the New Math at work when it comes to business ownership. I have some bad news - those items are mostly called 'the cost of being in business'. Also known as 'overhead'. It's the price YOU pay for being in business.
If I wanted to pay them, I'd be in the business. As for the others, they are what's called 'management'. Also known as 'knowing how to run a business'. It's not my fault you took in work for some jamoke who is in jail or changed his mind - don't ask me to pay for it. Here's a better idea - take a bath this time, then learn next time and you'll be a better operator.

It's become fashionable to run a business with the idea that you can replace knowledge and skill by tossing more money on your price. But the truth leaks out - a guy who truly knows his profession doesn't have to rely on adding fat. And another sad fact is running a donut shop might just entitle you to living in a $750K house and retiring at 50. Why is it every time I hear the sob story above about how hard it is to be in business, it's coming from a guy who drops $100K per year on racing or bass fishing or golfing and drives a 1 year old F-350 diesel Platinum 4X4?