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Material Markup #70129
09/30/06 10:06 AM
09/30/06 10:06 AM
B
BOBELECTRIC  Offline OP
Junior Member
Joined: Jul 2006
Posts: 7
Eighty Four,Pa.U.S.A.
What is an acceptable percentage for profit margin mark up anymore?

Bob O. 84,Pa.


Bob O.84,Pa.15330
Work Gear for Electricians and the Trades
Re: Material Markup #70130
09/30/06 10:14 AM
09/30/06 10:14 AM
W
watthead  Offline
Member
Joined: Oct 2001
Posts: 172
South Carolina
I think anywhere from 25% to 100% based on the quantity of the material.

Re: Material Markup #70131
09/30/06 11:05 AM
09/30/06 11:05 AM
T
Tiger  Offline
Member
Joined: May 2005
Posts: 706
Crystal Lake, IL USA
Lately I've been focusing more on bottom line profit than material markup. It's the total profit of the job that will help me reach my financial goals. I find material markup time-consuming & tedious.

Dave

Re: Material Markup #70132
09/30/06 11:25 AM
09/30/06 11:25 AM
M
mahlere  Offline
Member
Joined: Nov 2005
Posts: 507
New Jersey
sorry tiger, you lost me. can you explain?

Re: Material Markup #70133
09/30/06 01:44 PM
09/30/06 01:44 PM
S
ShockMe77  Offline
Member
Joined: Jun 2005
Posts: 821
Rahway, New Jersey
I'd say at least 75% on everyday Mr. and Mrs. Jones type jobs. I say at least that because I know others mark-up way more than that and they have every right to do that. I think it's very reasonable to pay $35 for a specific light bulb and charge the customer $100.00. This IMO is what covers the cost of knowing where to get the bulb in the first place and the time it takes to go get it and buy it. This is something a lot of guys do not consider. How do I know this? I used to work for them.

On the flip side, if materials are costing $100,000.00, I dont think it's reasonable to sell it back at $200,000.00. Thats just my opinion.

Re: Material Markup #70134
09/30/06 04:58 PM
09/30/06 04:58 PM
A
Almost Fried  Offline
Member
Joined: Sep 2006
Posts: 98
Madison County, Ark. USA
A lot of shops in my area charge 100%, I don't. They drive nicer trucks than me... I let some of my customers get the materials themselves, that's their discount for being friends and repeat customers. I generally add tax and a 40% MARGIN, not markup.(mat'l. cost+sales tax divided by .6= profit as a percentage of sale price.) But they all drive better trucks than me...

Re: Material Markup #70135
10/01/06 01:20 AM
10/01/06 01:20 AM
S
skipr  Offline
Member
Joined: Jan 2005
Posts: 39
Huntington Beach, Ca.
I can't believe what i'm hearing. You can get away with a markup that large? I never under any circumstances go over 30%.And that's to industrial customers. How do you people sleep at night?

Re: Material Markup #70136
10/01/06 02:03 AM
10/01/06 02:03 AM
L
LK  Offline
Member
Joined: Jan 2003
Posts: 1,429
New Jersey
They may sleep well, it depends on the type of work they are doing, if they are doing residential, or commercial service calls, then 100% may what they need to support both truck stock, and replacement inventory costs, do you value your time, it takes to order, and move stock, or do inventory, how do you cover these costs, unless you have sufficent mark-up.

Mark-up can differ with how you cost a job, or how you inventory, material sales, should contribute to your overall profit, how much profit do you need to stay in business, may be a good guide.



[This message has been edited by LK (edited 10-01-2006).]

Re: Material Markup #70137
10/01/06 04:49 AM
10/01/06 04:49 AM
dougwells  Offline

Member
Joined: May 2003
Posts: 1,145
kamloops BC Canada
hmmm when i used to do,plumbing I always got 100 percent mark up IE my costs Xs 2 how come electricians are not allowed to get the same mark up .... BTW hvac guys get the same mark up again why
I think I know the answer but would like to hear others opinions why electricians cant get this mark up.

Re: Material Markup #70138
10/01/06 05:32 AM
10/01/06 05:32 AM
I
iwire  Offline
Moderator
Joined: Jan 2003
Posts: 4,391
North Attleboro, MA USA
Quote
How do you people sleep at night?


Probably quite well and in a nice house.

I am sure they are not putting a gun to the customers head, the customer can always say no and find someone else.

We had a large concert venue for a customer, they felt we charged to much and found someone else.

I found their view odd as when I had to be on site during a concert a order of fries and a coke cost me $9.00. What do you think the mark up on that was?


Bob Badger
Construction & Maintenance Electrician
Massachusetts
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