I agree with tsolanto. We have been squeezed out of the residential market and are now 95% commercial/industrial. The small contractors will do a house below our cost. In commercial/industrial the profit margin is fatter. I believe it's because the barriers to competition are higher. To compete in commercial/industrial you need more equipment and manpower. To compete in residential all you need is a license.
I charge $17.50 for friends, $35 hr residential/commercial here in south TX. I am a one man show, also. I add an additional $20 for a helper on bigger jobs. this is a good question because i am about to register my business and go legit. I ahve been doing electrical "for myself" for about 9 months, and want to advertise in local yellow pages.
I did not get as think so badly as you shocked I did.
$30 per hour residential, $35 per hour Commercial. 20% Mark-up on materials.
And I think I'm pricing myself right out of the market, I've had several customers never call back since I raised my rates.
And I'm still struggling to make ends meet. Monday, on a $500 job, I did $1500 worth of damage to a Buick while backing out of a parking lot. I was better off staying in bed this week!
-Virgil Residential/Commercial Inspector 5 Star Inspections Member IAEI
ant540, That is a big spread between your wage and the contractors charge! Do you get any benefits? I'm about 60 miles south west of Chicago and a union 3rd year would be getting a little over $25 on the check and about $12 in benefits. The contractor would be charging between $65 and $80 per hour. Don
Rowd, Since I live only 20 minutes North of you. And we're both in the same boat, businesswise. I'd be willing to give you a hand when I can. Since you don't list your email address, pleas email me.