I prefer contracting in many situations over T&M (it's almost always more profitable). However, there are so many instances where I can't bid it because I can't see it. Is that outlet dead because there's a loose connection in the box, or did the wire buried in the wall fail?
My worst case of T&M (when I had a 1 hour min. at $25/hour...no trip charge) was driving 1.5 hours round trip and doing 1 hour work. I made $10/hour that trip (less gas, insurance, taxes, etc.).
On the other hand, I'll still reset breakers or other short jobs and walk away without charging. It's good for business and you never know when it could bring you a $10,000 job. I consider it an advertising expense since I don't have any advertising expense.
Dave
