Had a call the other day a guy says " I want to know how much it would cost to install a new receptacle, replace my thermostat with a digital/programable type and replace a switch with a time clock switch"
So, I went out gave him an estimate and the total was $255.00

The plug was installed off of an existing switch 2' above, I pulled out a switch and replaced it with a time clock switch and replaced a thermostat.

It took all of 35 minutes and $90.00 in material. What would you charge? The guy was so happy when I left I kind of thought maybe I was too cheap! But everything was so easy and close together. Maybe he was just another satisfied customer!
Wirewiz

Hey, some days you get the bear, some days the bear gets you...

Hope it was delicious!

(Kinda like greasy and stringy beef, actually...)

"It took all of 35 minutes and $90.00 in material."

It took more than 35 minutes.
You had time on the phone.
The trip out to give the estimate.
Gas for two trips. Wear & Tear on your truck.
Pro-rated- The cost of your tools. The time spent putting gas in your truck. Phone bill.
Insurance. Office supplies. Giving quotes for jobs you didn't get, etc etc etc
And don't forget Uncle Sam.

I wouldn't say it was too much or too little.
It all depends on your situation. If you haven't determined your total cost of operating you may not know if it is too little until it's too late.

I gave up on the psychology aspect of pricing
long ago. It seems every time I was actually trying to give someone a good deal they thought I was ripping them off, but If I pushed the limits on pricing I was their Hero.
Go figure.
Go figure.

I also struggle with charging full price for the "slam dunks". I usually discount the surprisingly easy jobs. The problem is, you usually can't up the prices if you run into problems. So, relax and enjoy the extra profit(take the kids to lunch). Next time you have to "eat" an hour or two labor, you'll be glad you did.

After being burned so many times by contractors and homeowners I charge full price for everthing. No discounts...
Right now I am owed roughly $18,000 in extras done for contractors. The homeowners are disputing these extras and refuse to pay. I am getting very tired of this...

Next time get the extras on paper with their signature or it won't get done. Then they can't argue.

TE,
"I gave up on the psychology aspect of pricing"

What do you mean?


I understand that there were 2 trips gas, tools, jobs not won, "overhead", blah blah blah.
All I am looking for was a little comparison on pricing. I really thought for what I did and what the customer received I could have charged more and the customer would have still been happy.
Wirewiz

Don't you just hate it when you give a customer the bill and they say ..."Is that all, man I expected it to be twice that much"... As it turns out those customers are the easiest to please and a pleasure to work for and the guy that about has a heart attack over a $100 bill when you just spent 2 hours in his attic on the hottest day of the year, well he wouldn't be happy if you gave it to him.

How about $255?
He'll tell all his friends that you're good, and fair. And you can help them, too...Scott

Electure, that's what I am planing on, he did ask for a couple of extra cards.
Wirewiz

Sorry wirewiz maybe I mis-interpreted. Thought you were thinking you could have but shouldn't have charged more.


The TE psychology aspect of pricing:
I used to figure my quote and then think:
How much more can I charge them fairly and they'll still be happy?

I no longer consider the happy portion.
I just figure some people are happy and some are not, regardless of what they pay me.

Example: The job you spoke of, I mainly use unit pricing, I figured at 175 + mat. sight unseen, so pretty close.

I use to figure kinda like this:
175+90=265
Nice big house- 350
2 Mercedes in garage- 395 easy
Then you ponder- Will they think it's too much? Will they be happy when I'm finished?
Will they think I'm raping them when I get
the work done in an hour? Well maybe I better only go.........their happiness never seemed to follow how much I charged.

So, $395 , I got the big house, I'm working
on the cars.

I must admit though, I re-learn this lesson about once a year, I'll feel sorry for some guy that appears to be barely keeping his head above water and I cut him a deal.
When the jobs done I'm a no-good blood sucking a hole and his check bounces.

Of course all prices vary with location, so who knows, but you. Remember people think plumbers are outrageous and electricians shouldn't be far behind.

My only advice is if you're going to be the boss you ought to get the big house.
If 255.00 gets you the big house where you live, you're right on the money.

Huhn? If I end up in the big house (prison?) then I'm doing it right?

Wait... I need more coffee...



(Slurp)



Oh, nevermind...