The whole overhead thing I think makes sense in some circumstances. I get to a show, and and my rig is set up in about 15 minutes, tearing it down the same. I just don't factor that time or gas. I guess I'm not a good business person.
There might be several extenuating circumstances where I would play for 50.00. However it would not involve playing for 4 hours.
blue
On the contrary, it sounds like you've done a good job of managing your overhead, if you can get in and out in 15 min.
To be fair, I haven't played in a rock band, in 30 years. When I read about the amount of time, gear, and travel involved in operating a bar band, for the pay that it involves, my impression is that it doesn't make business sense, but that it might be a lot of fun for someone who has the time to spare. A band that's good enough to make business sense is probably good enough to hire a better bassist than me.
So, it looks to me like folks are engaging in an activity, that they enjoy, but that doesn't make business sense. It's not that you're a good or bad business person, but that the entire bar band scene is just not much of a business proposition. And that's OK.
I play in a civic band. We play a monthly gig, with all proceeds going to the band fund for buying more charts and taking care of minor expenses. On the other hand, almost everybody in the band is a formally trained musician, we've all played professionally, so we know how a pro band is run, and we run it that way. The caliber of the musicians, the level of material that we play, and the efficient use of our time, make it a worthwhile hobby, even for a number of members who would never play for free in any other situation. The chops that I've developed in that band are what make it possible for me to hang with the bands that offer me paid gigs.
I also do a fair amount of freelance work which I don't do for free. And I agree that it's a great hobby that pays for itself.