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#190815 - 12/06/09 02:15 PM NEED HELP -- please?  
Miru  Offline
New Member
Joined: Dec 2009
Posts: 1
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!


Business, Office, Estimating, Legal:

#190820 - 12/06/09 03:43 PM Re: NEED HELP -- please? [Re: Miru]  
A-Line  Offline
Member
Joined: Jul 2004
Posts: 272
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


Attached Files
Last edited by A-Line; 12/06/09 03:55 PM.

#190822 - 12/06/09 08:39 PM Re: NEED HELP -- please? [Re: A-Line]  
HotLine1  Offline


Member
Joined: Apr 2002
Posts: 6,858
Brick, NJ USA
Miru:
Welcome to ECN from another 'Jersey Guy'!!



John

#190823 - 12/06/09 09:00 PM Re: NEED HELP -- please? [Re: HotLine1]  
renosteinke  Offline
Cat Servant
Member
Joined: Jan 2005
Posts: 5,316
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.


#190832 - 12/07/09 06:44 PM Re: NEED HELP -- please? [Re: renosteinke]  
CDS  Offline
Member
Joined: Jun 2006
Posts: 34
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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