Electrician Talk banner

41 - 60 of 63 Posts

·
Registered
Joined
·
14 Posts
Know your costs and get a bidding program

To the OP: I started my business beginning of last year and was failing the first 7 months. I was working 60 hours a week and barely seeing my kids at night before they went to bed just to make ends meet. And actually I was still slowly loosing money. I thought hey if I’m charging 75-100 dollars and hour I’m good.

I had to wise up and look at my books and see what I was spending and really figure out how much I wanted to make. After looking at advise on here I got with CS2 bidding program and did the flat rate chart.

It was and still is a game changer!! Yes it’s hard to charge $160 an hour but with my costs and goals that’s what I needed to do. The program made me so much more efficient and it makes me come across 10x as professional as 90 percent of the other guys. If you want to charge more be better than the other guys and it will change your life.

I work Monday thru Friday and I have time for my family now not including the financial security that comes with charging the correct rate.

Wish you success this s*** is hard man but it’s so much easier when you charge the right amount.
 

·
Registered
Joined
·
622 Posts
I am sorry for not being politically correct but it is very hard to compete with the house flippers being allowed to do their own electrical work and the many unlicensed people who have nothing to lose if they get caught. I just shake my head at what the towns are allowing and doing nothing except making it hard on the legit people. Licensing is a joke and so are the electrical permits and inspections.
 

·
Registered
Master Electrician
Joined
·
2,961 Posts
I am sorry for not being politically correct but it is very hard to compete with the house flippers being allowed to do their own electrical work and the many unlicensed people who have nothing to lose if they get caught. I just shake my head at what the towns are allowing and doing nothing except making it hard on the legit people. Licensing is a joke and so are the electrical permits and inspections.
That is everywhere... trunk slammers abound... but that is not the group you want to compete with. There is no money in those areas, if you want to make money, then you need to be the one flipping the house, not trying to wire it.

The only time you make money on the trunk slammers is when you have to go back in and fix their mess... might not be right away, but soon enough; or maybe you get to bid on the new build that is required when it burns down.

Cheers
John
 

·
Registered
Joined
·
40 Posts
Anecdote: As an apprentice in the 80's, one of the first jobs I was taken to, I witness an outlet ON FIRE when we turned it back on to test it, you guessed it, FPE breaker. That made a lasting impression on me!
 

·
Registered
Joined
·
157 Posts
No you're price was not too high
I didn't even have read through the whole post to know this
If you're licensed, show up and do a quality job you can charge whatever you want
As others have said though the price for the scope of work was too low
Time and experience are the best teachers though
 

·
Work Speaks for Itself
Joined
·
129 Posts
pricing is crazy, i am was in the same boat..sortof but not really. i simply learned what other guys are charging/ripping ppl off for their work.


for instance, im doing a renovation for my cousin. he's not a GC, but for this small bathroom he'sdoing... the plumber was there for less than two FULL days and is 'done' and charged 5000bux for his job. besides me telling my cousin that that guy screwed hiim royally. ive got far more work involved, and i only charged about 700 bux so far and ive still got finishing work to do which will be about another 3-400 bux.
 

·
Work Speaks for Itself
Joined
·
129 Posts
by comparison, for the work i noticed he'd done [plumber], if he charged 5k, my work should be worth 14k. /ucking plumbers.
 

·
Work Speaks for Itself
Joined
·
129 Posts
lmfao, ive been thinking about it for a few minutes.... and er,yeah actually i charged cheaper than that even, only about 525 in labour. $$. im still trying to figure out how that plumber justified his price...there wasnt that much work [one day maaaybe] and eve with two ppl, and double the price of materials.... i still cant figure out how he arrived at that high a price. ****, even if he charged 100bux and hour i still dont see it even for 2 ppl.
 

·
Work Speaks for Itself
Joined
·
129 Posts
i could see maaaaybe, 5k for one person to do plumbing an entire "small" house, materials included. but for a 10x10' bath of which the walls/floor is open for them...i just dont /ucking get it.
 

·
neutral member
Joined
·
1,770 Posts
pricing is crazy, i am was in the same boat..sortof but not really. i simply learned what other guys are charging/ripping ppl off for their work.


for instance, im doing a renovation for my cousin. he's not a GC, but for this small bathroom he'sdoing... the plumber was there for less than two FULL days and is 'done' and charged 5000bux for his job. besides me telling my cousin that that guy screwed hiim royally. ive got far more work involved, and i only charged about 700 bux so far and ive still got finishing work to do which will be about another 3-400 bux.
you should put your energy into figuring out how to charge even less than you do now, that way you can go broke faster and go on with your life:wink:
 

·
Banned
Joined
·
39,206 Posts
pricing is crazy, i am was in the same boat..sortof but not really. i simply learned what other guys are charging/ripping ppl off for their work.


for instance, im doing a renovation for my cousin. he's not a GC, but for this small bathroom he'sdoing... the plumber was there for less than two FULL days and is 'done' and charged 5000bux for his job. besides me telling my cousin that that guy screwed hiim royally. ive got far more work involved, and i only charged about 700 bux so far and ive still got finishing work to do which will be about another 3-400 bux.
So you are saying that the plumber screwed him over because he didn't give your cousin the same discount that you did? Because he didn't charge a price so low that he would soon find himself out of business?

You need to go somewhere else with this BS.
 

·
Small Potatoes
Joined
·
5,460 Posts
lmfao, ive been thinking about it for a few minutes.... and er,yeah actually i charged cheaper than that even, only about 525 in labour. $$. im still trying to figure out how that plumber justified his price...there wasnt that much work [one day maaaybe] and eve with two ppl, and double the price of materials.... i still cant figure out how he arrived at that high a price. ****, even if he charged 100bux and hour i still dont see it even for 2 ppl.
:vs_laugh::vs_laugh::vs_laugh::vs_laugh::vs_laugh:
 

·
Chief Flunky
Joined
·
1,606 Posts
Just to pay bare minimums at $12 per hour, no benefits, etc., basically laborer rates in N.C. is $35 per hour while making no money. Realistic rates are more like $50-60 an hour for an apprentice rate on big jobs or steady work. Troubleshooting/emergency rates these days are $90 an hour or more. Engineers typically charge $130-180. Typical rates for high end techs like vibration are $200-250 per hour. Out of town techs like drive technicians are 300-400 per hour plus travel expenses. Lawyers are around 300 an hour in court maybe half that office rates.

So $100 an hour depending on the work sounds very reasonable.
 

·
Small Potatoes
Joined
·
5,460 Posts
Just to pay bare minimums at $12 per hour, no benefits, etc., basically laborer rates in N.C. is $35 per hour while making no money. Realistic rates are more like $50-60 an hour for an apprentice rate on big jobs or steady work. Troubleshooting/emergency rates these days are $90 an hour or more. Engineers typically charge $130-180. Typical rates for high end techs like vibration are $200-250 per hour. Out of town techs like drive technicians are 300-400 per hour plus travel expenses. Lawyers are around 300 an hour in court maybe half that office rates.

So $100 an hour depending on the work sounds very reasonable.
:vs_laugh::vs_laugh::vs_laugh::vs_laugh::vs_laugh:
 
41 - 60 of 63 Posts
Top