ECN Forum Forums General Topics of the Trade Business Related Discussion ESI flatrate

That word justify keeps on comming up.
Do you know that if Starbucks sold as much coffee as Exxon sold oil Starbucks would have made as much profit as Exxon.
This like Tiger said is about service and marketing.
Who says you can't charge $5000 for a 200 amp service? What's stopping you? Yourself?
The big guys are comming in and taking over. Many small contractors are falling prey to them. I was not going to let that happen to my company. So they became my competition. I didn't join them I compete with them.
I started out like everyone else but now make on average of $300,000 to $360,000 per truck per year.
It's all out there for anyone that wants it. You just have to look and ask the right people.
Some will look at this and say that's crazy i'm happy making $80,000 a year working 75 hours a week and others will say HEY! I want a piece of that pie, and a mighty tasty pie it is.
I'm leaving for vacation on Monday and I'll be back the following Monday. My company will run fine without me there.
Success is sweet. I know "define success."

I want some pie! I just ordered The National Estimator and it should be here any day. Does this book help with the flat rates or is it for average pricing? I would assume to do the flat rating you need to have a number of techs on the road. Is it possible to start flat rating for just myself and an apprentice?

Anybody know how much it costs to join ESI?
Sure would be nice to make steady profits for a change.

National Estimator will not help for flat rate pricing on service work.
Flat rate will work for you and a apprentice. You must know your bottom line and never have a ratio greater than 32% between payroll and gross income.
Establish what it would cost your company to install a GFCI outlet on the outside of a residance using rx and 55 feet from the loadcenter. Take that cost and add 65%. There is your flat rate for this instalation for your company. Now make up a spread sheet of most common jobs and put a price next to them. Carry this sheet with you when you go to do a job and use it to give your customer a price before you start the job. As soon as someone calls you they are your customer you just have to make sure they stay your customer.
Of course it's more complicated than that but this is a general idea.
Bill

Justified?

Why??

Why should oil companies have to justify $3.50/gal, and $30 Billion in profits a quarter?

Why should health care companies justify raising rates and dropping coverages?

Why should Enron justify anything?

It's all business, right?

you can lead the way or try to hold on while you get run over. it's always easier to stay in the muck and pull people back down to your level, than it is to raise yourself up above it.

here is the deal, I have absolutely no say over whether or not the gas companies charge $4/gal, or health insurance costs me $14,000/yr (which it does btw) or my property taxes are $15,000/yr, etc.

The only thing I can control is that I make enough money to pay these prices. So, I will charge accordingly.

I need $7/hr for a 40 hr week just to cover my healthcare.

In addition, please do not forget 1 huge overriding factor when it comes to electrical work (particularly Service Changes)

If we do it right, it will not need to be done again in our lifetime.

Think about that. A plumber can change the boiler/water heater in the same house 3 times in their career.

HVAC can change the air handler/AC condensor in the same house 2-3 times in their career.

We get 1 shot to change the service. If done right, it will last 50+ yrs.

Think about that. There is a tremendous amount of value in that fact. We just have too many "electricians" who don't grasp concepts like that.

If your career lasts longer than 50 yrs, you either love what you are doing so it's not a job, or you never charged enough money and you are forced to work.



[This message has been edited by mahlere (edited 11-17-2006).]

man i never thought this thread would bring so much...... our esi flat rate was $500 because we already have the plumbing and hvac versions some things look hight but if you know your margins, including overhead and bennys it is the way to go ...

think about it you charge a diagnostic fee here its$80 get there find the problem and give the customer a price to fix it.


when you go to a restaurant, the steak costs the same if it takes 1 hr or 5 min to cook and you know the price up front... what an awesome idea.


Denny

Tiger said it best:

Prices can not be fixed, free and open trade is how it works, everyones operating costs will be different, and the wealth, or lack of wealth in the local that they are working in, is another factor, not everyone will be riding the same wave.