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Are You Charging Enough?

Are You Charging Enough?

As a businessperson, this is one of the most important questions you could possibly ask yourself: “Am I charging my customers enough?” We realize that to some of you, that question could possibly be taken the wrong way, so allow us to elaborate.

We’re definitely not trying to say ‘charge your customers expensive arbitrary amounts because they might not know what you’re doing’, but rather that your work has value and that you are dedicating a lot of time to do whatever the particular job may be. You don’t have to charge exorbitant amounts of money, but undervaluing your time and effort isn’t the right way to go either.

How Does the Average Electrician Charge Customers?

Typically, the way it works for many other electricians is that they charge anywhere from $40 to $100 per hour on consultations, inspections, and service calls (any job that requires diagnosing a problem) with the first hour possibly costing up to $150, although problems with causes that are already known are (sometimes) free. The costs for smaller parts for repairs, the time it took to travel to the client’s location, and gas are included in this whereas larger parts are charged on a separate bill.

As a friendly tip, if you’re interested in doing electrical work, but you don’t know much about how it works, there are three different levels of electricians and they are distinguished by their experience. They are referred to as apprentices, journeymen, and masters, and the amount that they are paid varies by experience as well.

For example, although the average rate for electricians, in general, is between $40 to $100, an apprentice would start out at around $40 per hour, a journeyman at around $55, and the master at about $100. The first-hour rate has an increase of around $50. The corresponding “experience to cost” rate works the same for tasks too.

We’ve already mentioned that inspections can be considered the same as a service call, which we’ve just priced; but there are also complete home inspections (which may involve an electrician inspection) that are commonly charged differently – from $200 to $500. There is also the matter of “no-show” fees too. These vary from person to person, but they involve the issue of recouping the cost of traveling to the customer when the customer doesn’t keep the appointment.

The average price per task works differently than consultations and inspections do. Many electricians charge around a $25 fee for the trip but the amount for the task depends on what it is. To make this simple, we’ll just compile what often costs what in a neat little list for you.

● Socket and Switch repairs/installations – $150 to $1000
● Wiring a House – $550 to $750
● Light Fixtures – $150 to $750
● Breakers – $100 to $400
● Attic Fans – $200 to $400
● Ceiling Fans – $50 to $200
● Generators – $250 to $1000
● Installing Smart Home Features – $400 to $2000

But What Does This All Mean for Me?

This is where it gets a bit subjective. Truthfully, there is room for quite a bit of wiggle room here. You don’t have to charge any of these prices, exactly. It only serves as a guide so you can compare what the average rate is as compared to what you charge.

If you wish to charge below the average rate, then you are certainly entitled to. This can come with the added benefit of making you seem more attractive as opposed to the competition. When you get down to it, though, you are, in a sense, working at a cost to you. If you are comfortable with the rate and can operate your business at a well-functioning level, you’re probably fine.

If you’re having issues keeping afloat or simply feel that you’re underselling your talents, then charging more isn’t really an issue either. Many of your clients will likely understand and be fine with the change.

We know that plenty of our electricians out there will have plenty of useful input on this matter, so let us know your experiences and opinions in the comments. If you have a perspective that you’d like to share, do it! Tell us what you guys think and keep yourselves safe until next time!

ElectricianTalk.com

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