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NEED HELP -- please? #190815 12/06/09 01:15 PM
Joined: Dec 2009
Posts: 1
M
Miru Offline OP
New Member
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:
Re: NEED HELP -- please? [Re: Miru] #190820 12/06/09 02:43 PM
Joined: Jul 2004
Posts: 272
A
A-Line Offline
Member
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
Attached PDF document
Last edited by A-Line; 12/06/09 02:55 PM.
Re: NEED HELP -- please? [Re: A-Line] #190822 12/06/09 07:39 PM
Joined: Apr 2002
Posts: 7,235
HotLine1 Offline
Member
Miru:
Welcome to ECN from another 'Jersey Guy'!!



John
Re: NEED HELP -- please? [Re: HotLine1] #190823 12/06/09 08:00 PM
Joined: Jan 2005
Posts: 5,316
renosteinke Offline
Cat Servant
Member
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.

Re: NEED HELP -- please? [Re: renosteinke] #190832 12/07/09 05:44 PM
Joined: Jun 2006
Posts: 34
CDS Offline
Member
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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