You didn't give any information about your background, pep3000. Do you have any background or education in electronics? The first step is either electronics classes at your local community college, or an apprenticeship at your local IBEW.
I had background in electronics, and wiring control panels from blueprints. I studied the latest edition of the NEC for approx. 200 hours with the assistance of a commercial electrical engineer.
I passed the test to become a registered electrical contractor. I still didn't know how to bend conduit, which is prevalent in Northern Illinois. It was five years before I had the experience of a journeyman. It was another five years before I ran into this site and did a lot of reading on business (accounting, sales, marketing, business management, estimating, etc.) to improve the business.
Last year was my first year that was really profitable. As a lone electrical contractor you have to be good in all the above areas to have a good business, or in my case have friends with experience in these fields. I talked with a friend who is a 2nd generation salesman for a few hours one evening. I've talked with a marketing friend for several hours. I've read a couple dozen books on business managenent, and hire an accountant.
This is my 20th year in business, my 10th as an electrical contractor, and I'm just starting to get good at it. From the statistics I've read, there are probably only a handful of small ECs who are still in business in the area during the same time period. The rest went out of business.
Of the 150 ECs in the phone book, I'd bet half make less than $40,000 a year. Some of those with the help of their wife. They probably work 2500 hours a year, half of it unpaid. $40,000/2500=$16.00/hour. From my last post (Retirement), most of them haven't been able to put away anything for retirement.
It's a sport for survivors. Good Luck!
Dave
