Electrician Talk banner

41 - 49 of 49 Posts

·
Registered
Joined
·
125 Posts
I used this cost calculator a year or so ago and found it very helpful. It helped me decide to include things like advertising, gasoline, estimating, and vehicle costs in my hourly rates.... having an idea of where my money goes, what I am charging for, is a really good thing.

You have to, or not your earnings will quickly go to zero.

That's something that took me a while to learn. Billable hours shouldn't just be the time I'm actually pulling wire or bending conduit. Travel, gas, time estimating, time recruiting, time marketing, time spend printing marketing material, time spent with the website guy, etc have to go SOMEWHERE. What's hard is knowing where each of these go ;)
 

·
Registered
Joined
·
1 Posts
paperwork and organization

I used this cost calculator a year or so ago and found it very helpful. It helped me decide to include things like advertising, gasoline, estimating, and vehicle costs in my hourly rates.... having an idea of where my money goes, what I am charging for, is a really good thing.
Hey everyone, we've just put together a new contracting app called JobFLEX. Does anyone have any experience using it? If so we'd love to hear some feedback, it sounds like it could help a few people on this thread stay organized and increase efficiency when creating estimates.
 

·
Registered
Joined
·
322 Posts
I've stumbled upon this a few years back and one thing that always struck me as being off about it is that if increase the number of employees, enter their wages and increase the number of productive hours and days to adjust for additional employees on the job, the hourly rate increases, yet I know that it should decrease. Maybe just a browser issue? Hmm...

Just my thoughts on this but you added a guy so more money is coming in but , your hourly increases because your insurances just increased with the new guy, another truck payment, more gas, more advertising needs etc. The more guys you add the higher the cost of doing business. How much did it go up? Figure that out to productive hours and we what overal year end number it punches out. It will be the difference of all those items and gross profit.
 

·
Registered
Master Electrician
Joined
·
2,961 Posts
Looking at an annual / hourly perspective, some costs go up dollar for dollar, like wages, uniforms, etc. Other costs go up fractionally such as vehicle costs, insurance and tool expenses. Other costs actually decrease such as annual fees, advertising, administration support, etc.

By knowing and adjusting your fixed (static) overhead annually (more if required), your costs can be spread out over the billable hours and the only variable costs (read as wages) need to be factored in.

As an example I know that I need to make $XXX dollars a day (based on six billable hours) to cover my O&E, plus the wages of any of my people that are working. My only variable is how many manhours in a day can I spread that O&E over (6, 8, 10, 12, 16, 20).

Cheers
John
 

·
Registered
Joined
·
16 Posts
The link just sends me to an 'under construction' page with no data and a promise that the new website is going to be awesome. anybody know where the calculator went?
 
41 - 49 of 49 Posts
Top