A company that started in 1996 and has grown alomost 2,000 percent, served more than 40,000 customers, operates more than 25 service trucks and does 6 million in sales each year with 20% profit or more is a great inspiration to me. His company appeared in Inc. magazine's list of the 500 fastest growing companies. Apparently many of his customers do not feel they are being overcharged. Too many of us are charging far too little for our services. His company is like a role model for me. I just hope I can be half as successful as he is. Could he get more work by reducing his prices? He might be able to, but more work does not necessarily mean more profits. What ever he is doing seems to be working very well for him. I've calculated my expenses for my business and caculate I need to set my hourly rate for service work at $120.00 per hour just to break even with no profit for the company. This is based on a personal income of $60,000 a year. As a maintenance electrician I was making $70,000 to $80,000 a year plus I had good benefits such as 401k retirement plans, vacation good health insurance etc. I worked 50 to 60 hours a week without the hassles and headaches of running a business. I don't know about anyone else but I feel that to make it worth being in business my personal income should be over $100,000 per year. I feel if you are not charging at least $100 per hour for service work you are not charging enough. I need to become a better salesman and business man. I'm not doing this because I want to spend less time with my family. I'm doing this for the money so I can provide a better life for me and my family. Make enough to be able to send my kids to college etc.and hopefully retire some day. I also like the challenge. I also thank the guy for showing me what can be done. He made me realize that I don't need to charge the going rate. Someone has to be the most expensive. That would be great if it could be me.
[This message has been edited by A-Line (edited 12-05-2004).]
