What do you charge?? - Page 2 - Electrician Talk - Professional Electrical Contractors Forum

Magnettica · 11-04-2009, 10:07 PM

I need to make $375 per day to break even and I try to make $600.00 per day. Sometimes I need to work from 7AM till 7PM to make that number, and some days less. Some days (like all this week), I don't have any work so I don't make anything. This'll have a trickle down effect for the rest of the month and it'll be more difficult to keep up with the bills. So what'll end up happening at the end of the year is that I'll figure the "lost revenue time" into my hourly/ daily rate for the following year. The worst part about not working is the stress of worrying when the phone will begin to ring again.

EDM · 11-04-2009, 10:10 PM

Quote:

Originally Posted by Magnettica

I need to make $375 per day to break even and I try to make $600.00 per day. Sometimes I need to work from 7AM till 7PM to make that number, and some days less. Some days (like all this week), I don't have any work so I don't make anything. This'll have a trickle down effect for the rest of the month and it'll be more difficult to keep up with the bills. So what'll end up happening at the end of the year is that I'll figure the "lost revenue time" into my hourly/ daily rate for the following year. The worst part about not working is the stress of worrying when the phone will begin to ring again.

And that right there is the reason why I haven't made the jump.

ralph · 11-04-2009, 10:16 PM

Your funny.
four people, three vehicles. One of four is an appentice, he drives himself to work.

That must have been a tough ****ing question

sparky105 · 11-04-2009, 10:19 PM

Quote:

Originally Posted by Magnettica

I need to make $375 per day to break even and I try to make $600.00 per day. Sometimes I need to work from 7AM till 7PM to make that number, and some days less. Some days (like all this week), I don't have any work so I don't make anything. This'll have a trickle down effect for the rest of the month and it'll be more difficult to keep up with the bills. So what'll end up happening at the end of the year is that I'll figure the "lost revenue time" into my hourly/ daily rate for the following year. The worst part about not working is the stress of worrying when the phone will begin to ring again.

how can you break even at 375 a day?
that's 46 per hour in 8 hrs.
do you pay yourself or just the company ?
hope the wife and kids work that's a hard life
i make that working for the man and he don't ride on thr truck with me i more or less run my own show like you and I don't have to deal with the after hour crap like bill collecting or answering pissed off customers
I'll give you credit cause you really got to hustle, but is it really worth it? just wondering not ment to be judgemental

nolabama · 11-04-2009, 10:32 PM

Quote:

Originally Posted by Magnettica

I need to make $375 per day to break even and I try to make $600.00 per day. Sometimes I need to work from 7AM till 7PM to make that number, and some days less. Some days (like all this week), I don't have any work so I don't make anything. This'll have a trickle down effect for the rest of the month and it'll be more difficult to keep up with the bills. So what'll end up happening at the end of the year is that I'll figure the "lost revenue time" into my hourly/ daily rate for the following year. The worst part about not working is the stress of worrying when the phone will begin to ring again.

i have heard some of your costs/prices and i felt you were low for you area also - but im not up there so im talking out my butt here

rewire · 11-05-2009, 05:40 PM

Charge what your market will allow

Magnettica · 11-05-2009, 06:29 PM

That's the number I need to make to stay afloat, the bare minimum, not the number I charge. The number is important to know so I know how much at a minimum I need to bring in. For instance, today I made ZERO. Next week I may make $4k. I'm just starting out and not everyone knows i am there to provide a service they need. Starting out isn't easy and I'll be lucky if I earn as much as I did a year ago working for somebody. Money doesn't grow on trees you know.

I'll try to sell a 200 amp service for $4k tomorrow and sit home doing nothing next week. how's that?

nolabama · 11-05-2009, 06:33 PM

Quote:

Originally Posted by Magnettica

That's the number I need to make to stay afloat, the bare minimum, not the number I charge. The number is important to know so I know how much at a minimum I need to bring in. For instance, today I made ZERO. Next week I may make $4k. I'm just starting out and not everyone knows i am there to provide a service they need. Starting out isn't easy and I'll be lucky if I earn as much as I did a year ago working for somebody. Money doesn't grow on trees you know.

I'll try to sell a 200 amp service for $4k tomorrow and sit home doing nothing next week. how's that?

sell one for me at that price - i see your reasoning behind 375 now - good luck - and remember if you make it in this market you will be fine for the days ahead

Magnettica · 11-05-2009, 06:42 PM

Hey I'm still learning what exactly the market is. Last week I did (12) 6" remodel hi-hats, 2 dedicated circuits, some 3-way wiring, a few new ceiling lights for a number I thought was really good. I ran it by another local guy here at ET and he said I was a bit cheap. Me? I thought I made out very well. In fact, it was probably the most profitable job I've done yet.

$700 a day to me is outstanding, to others they might not even get out of bed for that number. I could careless if they wake up for that or not. This is why it's important to know your own numbers because everyone else's numbers are different. The important thing is knowing how much money is there on the table and to leave as little as possible on that table.

NolaTigaBait · 11-05-2009, 07:56 PM

Quote:

Originally Posted by Magnettica

Hey I'm still learning what exactly the market is. Last week I did (12) 6" remodel hi-hats, 2 dedicated circuits, some 3-way wiring, a few new ceiling lights for a number I thought was really good. I ran it by another local guy here at ET and he said I was a bit cheap. Me? I thought I made out very well. In fact, it was probably the most profitable job I've done yet.

$700 a day to me is outstanding, to others they might not even get out of bed for that number. I could careless if they wake up for that or not. This is why it's important to know your own numbers because everyone else's numbers are different. The important thing is knowing how much money is there on the table and to leave as little as possible on that table.

I'd like to make 600 a day. If it works for you, then fine. You can't really be worried about the money you left on table. I'm glad you are working. I went from working non-stop during the summer to nothing. My phone hasn't rang in a week. Getting worried over here.

Magnettica · 11-05-2009, 08:21 PM

Phones not ringing here either, least not now. Tomorrow I'm helping a friend for that break even amount but that's it for now. I'm gonna call people on Saturday and see how they're doing. I have one customer that wanted a heat/ exhaust fan combo swapped out for a newer one some maybe I'll do that next week. I hate to call people looking for work because I lose that upper hand of charging whatever the hell works. People think you're desperate for work when you call looking for it. You agree?

BuzzKill · 11-05-2009, 08:30 PM

Quote:

Originally Posted by Magnettica

That's the number I need to make to stay afloat, the bare minimum, not the number I charge. The number is important to know so I know how much at a minimum I need to bring in. For instance, today I made ZERO. Next week I may make $4k. I'm just starting out and not everyone knows i am there to provide a service they need. Starting out isn't easy and I'll be lucky if I earn as much as I did a year ago working for somebody. Money doesn't grow on trees you know.

I'll try to sell a 200 amp service for $4k tomorrow and sit home doing nothing next week. how's that?

So you are a one man shop?

BuzzKill · 11-05-2009, 08:36 PM

Quote:

Originally Posted by NolaTigaBait

My phone hasn't rang in a week. Getting worried over here.

Don't be...I think it was you (or Capt Kirk) that was always talking about handing out your cards, non f'n stop and things will get better; my phone was quiet for a week not long ago and the usual uneasiness sets in then BLAM! I get 1,2,3 calls a day so I am booked 2 weeks ahead. Winter-time does concern me, however, and I think of some kind of online paid service with the yellow pages or whatever...I'm on the free listings all over, but paid means you get the first few pages....

Magnettica · 11-05-2009, 09:02 PM

Yes, one man shop.

And I hear you on going from nothing to do to not enough time in the day to do it.

NolaTigaBait · 11-05-2009, 09:03 PM

Quote:

Originally Posted by Magnettica

Phones not ringing here either, least not now. Tomorrow I'm helping a friend for that break even amount but that's it for now. I'm gonna call people on Saturday and see how they're doing. I have one customer that wanted a heat/ exhaust fan combo swapped out for a newer one some maybe I'll do that next week. I hate to call people looking for work because I lose that upper hand of charging whatever the hell works. People think you're desperate for work when you call looking for it. You agree?

I agree. I hate it when someone tells me to call so and so b/c they need work done. It makes you desperate. I think it is a good idea, however, to keep in contact with your best customers.

EDM · 11-05-2009, 09:05 PM

Quote:

Originally Posted by NolaTigaBait

I agree. I hate it when someone tells me to call so and so b/c they need work done. It makes you desperate. I think it is a good idea, however, to keep in contact with your best customers.

Perfect time to send out holiday cards to remind them you're around without seeming desperate.

NolaTigaBait · 11-05-2009, 09:18 PM

Thanks, you cockroach.

rewire · 11-05-2009, 09:24 PM

If this was the middle of December then things would not be so bad.No large projects out their but I have bid a dozen small jobs this week the largest was only 10 grand.The service truck is still bringing in cash which keeps the lights on.The last two weeks of October we were doing a thousand a day but this week its been closer to $400.00. I am hoping that all the stuff I am bidding now will materialize at the end of the month.

BuzzKill · 11-05-2009, 09:25 PM

Quote:

Originally Posted by Magnettica

Yes, one man shop.

And I hear you on going from nothing to do to not enough time in the day to do it.

$375 as day to "break even"....so 5 days a week making that breakeven amount is $97.5K....and you are treading water? NJ must be the priceist place in the world to live and do biz. You must be supporting a family of 3-4? THAT, I could believe, and sympathise with.

EDM · 11-05-2009, 09:26 PM

Quote:

Originally Posted by NolaTigaBait

Thanks, you cockroach.

Me??