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Service upgrades to 200amps with panel and meter pan,etc..generally in my area run for about $1800-$2600.
Material can cost you $400-$600
Labor 2 men: cost $650.00
Permit fee: $200
Meet inspector: priceless.
My questions is what's a typical mark up for my scenario? Or should I just flat rate every single service upgrade??
 

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i have prices for my panel change outs. they are based in increments based on size: 100, 125, 150, and 200 amps. i don't matter if i have to change the meter can out, install missing ground rod, etc. permits are extra as they aren't required everywhere. if i have to r/r underground, that is extra. it is very simple.
 

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Bababoee
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Service upgrades to 200amps with panel and meter pan,etc..generally in my area run for about $1800-$2600.
Material can cost you $400-$600
Labor 2 men: cost $650.00
Permit fee: $200
Meet inspector: priceless.
My questions is what's a typical mark up for my scenario? Or should I just flat rate every single service upgrade??
Experience will help with pricing. But I start at 2700 and it goes up from there... # of circuits, type of cables your dealing with, access to work area, distance of feeder, is the water bond going to be a pita, is it a mast service, profit, etc....
Last time I did a service for 1800 I cried in my bathtub that night..
 

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NJ-IEC
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Go on Wikipedia and look at the median income fir the neighborhood you're working in then price it out and sell it. Some services are a piece of cake with the meter/ panel back to back in a garage space and the water main GEC nearby. Those type services can be completed two men in 4 hours. $1800 is manageable price.
 

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captkirk said:
Experience will help with pricing. But I start at 2700 and it goes up from there... # of circuits, type of cables your dealing with, access to work area, distance of feeder, is the water bond going to be a pita, is it a mast service, profit, etc....
Last time I did a service for 1800 I cried in my bathtub that night..
Just curious about this $2700 price tag. Is this a service you are able to tear off and totally rebuild in a day? A basic of the basic (the one that gets the $2700 price tag) will net you am average profit of how much? Just curious. Feel free to give me the GFY I ain't tellin you nuttin.
 

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Bababoee
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Do yourself a favor and have people or friends call around to other well established ecs in your area...and ask them for prices on stuff. 2700 is pretty middle road when I did my market reaserch.
If your selling something for 1800 that people are paying 3500 for your leaving big money on the table..
Just using round figures is a big failure in my opinion. Its like you guys are just ball parking..... 650 for material 150 permit and 1000 for me..... thats not how to stay in buisness and grow your company..
I know plllllllllenty of guys that were charging 1800 14 years ago and for some reason I see that same number today..
My guys have insurance, 401, sick and vacation pay. I take a shi t ton of pride in providing a real job to grown men. I dont just look at my bank account and say "oh time to make the doughnuts when it gets low.
But wtf do I know.....
But keep in mind guys im in north jersey. Expensive area to live and filled to the brim with folk that make money.
I got 3200 for my last service change two weeks ago. And we got It done in a day not to mention I got the ho to sit for inspection so i really made out on it. If you guys like selling them for 1800 knock yourselves out... I guarantee I will be around longer then you. And god willi
ng I will be in a position to take the tools off one day and become more of a buisness man with people doing all the jobs I try to do myself.
And im not saying this because im patting myself on the back. We as tradesmen need to stick together so we can all make money.
Good hunting....
 

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captkirk said:
Do yourself a favor and have people or friends call around to other well established ecs in your area...and ask them for prices on stuff. 2700 is pretty middle road when I did my market reaserch.
If your selling something for 1800 that people are paying 3500 for your leaving big money on the table..
Just using round figures is a big failure in my opinion. Its like you guys are just ball parking..... 650 for material 150 permit and 1000 for me..... thats not how to stay in buisness and grow your company..
I know plllllllllenty of guys that were charging 1800 14 years ago and for some reason I see that same number today..
My guys have insurance, 401, sick and vacation pay. I take a shi t ton of pride in providing a real job to grown men. I dont just look at my bank account and say "oh time to make the doughnuts when it gets low.
But wtf do I know.....
But keep in mind guys im in north jersey. Expensive area to live and filled to the brim with folk that make money.
I got 3200 for my last service change two weeks ago. And we got It done in a day not to mention I got the ho to sit for inspection so i really made out on it. If you guys like selling them for 1800 knock yourselves out... I guarantee I will be around longer then you. And god willi
ng I will be in a position to take the tools off one day and become more of a buisness man with people doing all the jobs I try to do myself.
And im not saying this because im patting myself on the back. We as tradesmen need to stick together so we can all make money.
Good hunting....
Exactly the kind of response I expected...awfully hot headed for a guy that's barely been in business 6 years.
 

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Bababoee
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Exactly the kind of response I expected...awfully hot headed for a guy that's barely been in business 6 years.
I didn't feel the heat but what ever...

Its just sad seeing so many guys underselling themselves. I attribute it to a lack of confidence.

I went out on my own just when the bubble burst and in that time I managed to buy and own two new trucks and hire two men.. I think I have a right to offer some opinions when it comes to business..

If you think im hot headed or bragging I will just flat out tell you your wrong.... I want everyone to do well...especially if they operate in northern New Jersey.
Being a good electrician and business man are two completly different things. I am definatly not the most skilled electrician... there is a ton of stuff I dont know but I did go to college for business so I like to think I can offer some help to guys starting out.
 

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captkirk said:
I didn't feel the heat but what ever... Its just sad seeing so many guys underselling themselves. I attribute it to a lack of confidence.
I attribute it to too many small shops that have spouses that work and pay the household bills and healthcare. The market is way too saturated. Down here if you charge anything more then about $2,300 for a service you will never do one.
 

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captkirk said:
Do yourself a favor and have people or friends call around to other well established ecs in your area...and ask them for prices on stuff. 2700 is pretty middle road when I did my market reaserch.
If your selling something for 1800 that people are paying 3500 for your leaving big money on the table..
Just using round figures is a big failure in my opinion. Its like you guys are just ball parking..... 650 for material 150 permit and 1000 for me..... thats not how to stay in buisness and grow your company..
I know plllllllllenty of guys that were charging 1800 14 years ago and for some reason I see that same number today..
My guys have insurance, 401, sick and vacation pay. I take a shi t ton of pride in providing a real job to grown men. I dont just look at my bank account and say "oh time to make the doughnuts when it gets low.
But wtf do I know.....
But keep in mind guys im in north jersey. Expensive area to live and filled to the brim with folk that make money.
I got 3200 for my last service change two weeks ago. And we got It done in a day not to mention I got the ho to sit for inspection so i really made out on it. If you guys like selling them for 1800 knock yourselves out... I guarantee I will be around longer then you. And god willi
ng I will be in a position to take the tools off one day and become more of a buisness man with people doing all the jobs I try to do myself.
And im not saying this because im patting myself on the back. We as tradesmen need to stick together so we can all make money.
Good hunting....
That really sounds cocky. It's all about the delivery. #1 He's the only one charging more than $1800 to do a service change... "I got 3200 for my last service change, you guys keep doing them for 1800". #2 awfully funny that someone is going to be in business longer than someone else when they haven't been in business but 6 years themselves. "I guarantee that I will be in business longer than you" #3 automatically assumed that because I asked a simple question (which he did not answer) that I was some new contractor that thinks he's gods gift to service changes. A simple $$$$ would have sufficed. Where I live, a service can be priced $500 cheaper than 25 miles down the road, and the same profit is made. It's all what the POCO requires, and the city requires. I've had plenty of people try to impress me that they did a job in one day that was $10,000, but what they forgot, is I could figure they had $9500 in materials, and only made $500 for two men working 8 hours. It was a simple question to compare costs, and I got the "I make way more than you, and you'll be out of business in 2 months answer"
 

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Experience will help with pricing. But I start at 2700 and it goes up from there... # of circuits, type of cables your dealing with, access to work area, distance of feeder, is the water bond going to be a pita, is it a mast service, profit, etc....
Last time I did a service for 1800 I cried in my bathtub that night..
What counties do you mainly operate in? Bergen, Essex, Morris Somerset?
When you hired men did you look for people to complement your skills and experience?
 

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Bababoee
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What counties do you mainly operate in? Bergen, Essex, Morris Somerset?
When you hired men did you look for people to complement your skills and experience?
When I hired my first guy I went through about 10 guys. I want guys that have a broad range of skills and dont mind working in a small shop.
I ran across a ton of construction type electricians.. I had one guy tell me he doesnt do resi...lol.
 

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I attribute it to too many small shops that have spouses that work and pay the household bills and healthcare. The market is way too saturated. Down here if you charge anything more then about $2,300 for a service you will never do one.
If you're a certain distance from the ocean do you have to use copper for the service? Do you increase your price?
 

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Bababoee
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That really sounds cocky. It's all about the delivery. #1 He's the only one charging more than $1800 to do a service change... "I got 3200 for my last service change, you guys keep doing them for 1800". #2 awfully funny that someone is going to be in business longer than someone else when they haven't been in business but 6 years themselves. "I guarantee that I will be in business longer than you" #3 automatically assumed that because I asked a simple question (which he did not answer) that I was some new contractor that thinks he's gods gift to service changes. A simple $$$$ would have sufficed. Where I live, a service can be priced $500 cheaper than 25 miles down the road, and the same profit is made. It's all what the POCO requires, and the city requires. I've had plenty of people try to impress me that they did a job in one day that was $10,000, but what they forgot, is I could figure they had $9500 in materials, and only made $500 for two men working 8 hours. It was a simple question to compare costs, and I got the "I make way more than you, and you'll be out of business in 2 months answer"
Sorry I hurt your feelings... this topic has been beaten to death over the years so if you feel offended my bad. But when I see guys working for low wages I feel sorry for them. I guess im lucky to have had some really good ECs mentor me when I started out. I litterally have about six well established electricians right in my area. I would talk to them as much as I could and pick their brains. If it wasnt for them and a couple of cats in here I would have been making crap money and probably folded.
If you take my advice as me bragging then maybe your the one with the problem...
 

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... 2700 is pretty middle road when I did my market reaserch.
If your selling something for 1800 that people are paying 3500 for your leaving big money on the table...

I know plllllllllenty of guys that were charging 1800 14 years ago and for some reason I see. Expensive area to live ....that same number...
I got 3200 for my last service change two weeks ago. And we got It done in a day ... We as tradesmen need to stick together so we can all make money.
Good hunting....



27 years ago , I would see 2400 for a Day Service Job , 2 men ,with the addition of
2 or 3 circuits , 2 in kitchen and sometimes 1 in Bath . Easy to wire , open basement , 2 circuits to Kitchen Counter , and cut Recpt. in Bath . Quick , Easy and people get to use there 200A now .

All else would be XTRA .




Pete
 
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