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#190815 - 12/06/09 10:15 AM NEED HELP -- please?
Miru Offline
New Member
Registered: 12/05/09
Posts: 1
Loc: NJ
Got a license and starting my own Electric business.
But have no idea how much to charge for services.
Everywhere says "call for estimate".
Where do i find out the Costs of Services??

Thank you!
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Business, Office, Estimating, Legal:
#190820 - 12/06/09 11:43 AM Re: NEED HELP -- please? [Re: Miru]
A-Line Offline
Member
Registered: 07/23/04
Posts: 272
Loc: Utah, USA
I suggest reading the attached article "How Much Should a New Contractor Charge" by Frank Blau.

I also recommend checking out the links below.
http://www.barebonesbiz.com/catalog.html

http://www.flatratepricing.com/boc.html

http://www.foundation.phccweb.org/SiteSearch/fact.cfm?ID=794


Attachments
How Much Should A New Contractor Charge.pdf (23 downloads)



Edited by A-Line (12/06/09 11:55 AM)
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#190822 - 12/06/09 04:39 PM Re: NEED HELP -- please? [Re: A-Line]
HotLine1 Offline


Member
Registered: 04/03/02
Posts: 6776
Loc: Brick, NJ USA
Miru:
Welcome to ECN from another 'Jersey Guy'!!

_________________________
John
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#190823 - 12/06/09 05:00 PM Re: NEED HELP -- please? [Re: HotLine1]
renosteinke Offline
Cat Servant
Member
Registered: 01/22/05
Posts: 5316
Loc: Blue Collar Country
I also reccomend you visit the evening chat. Most any night, from 9PM EST on, you're likely to find some EC's willing to share their lessons.
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#190832 - 12/07/09 02:44 PM Re: NEED HELP -- please? [Re: renosteinke]
CDS Offline
Member
Registered: 06/28/06
Posts: 34
Loc: Nicholson Ga
I started in business 7 years ago . I had the same questions that you have , and I didn't want someone to tell me " Know your costs " . Honestly , you really need to know what it costs you to be in business . Many people start in business thinking they are making money until the suppliers are due , then "Oh S___" how will I pay this . Others go along fine until taxes or insurance come into play .
I did it the hard way . If you do , I suggest start with small jobs , that way if you don't bid enough you won't go bankrupt . You will probably bid some too low in the beginning , I certainly did , I still do sometimes . It helps you learn quickly .Also it depends on what end of the business you are in . Right now I am sticking to Service calls ,because the market is so competitive on most everything else . Unfortunately it usually takes a few years of word of mouth to be able to do that , plus advertising .If you are planning to make a living wiring houses in this economy , good luck . Even small commercial jobs are pretty cut throat right now .
I wish you all the success in your endeavor .
Overhead + Profit + wages = hourly rate
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