First off hello I'm new here. I gave a customer a quote of $225 to do this:
1.Mount 2 new exterior light fixtures one above the garage and one next to a door. The one needs a line ran and and a switch, the other is just a swap out.
2.Run new line to kitchen counter gfi
3.Run new line to island in kitchen and put in a gfi.
She didn't like the quote of $225 and said "geez don't kill me" haha so i got soft and said ok $200 she said ok.
How much would u charge?
Hi Edman78,
I'm not running my own business here, but it sounds a little cheap to me. How long you figuring this to take you, and what's your time worth?
Radar
Remove and replace 1 outside coach lamp: $35
Cut-in, wire, and install 1 sp switch and 1 exterior coach lamp: $70
Cut-in, wire, and install 1 dedicated 20amp/ 120vac circuit to kitchen countertop and install 1 GFCI receptacle: $125
Cut-in, wire, and install 1 dedicated 20amp/ 120vac circuit to kitchen island and install 1 GFCI receptacle: $125
Ballpark figure: $355
oops,
shockme77 sounds like i under cut my work big time.
The lady is real nice to me and she is spreading the word about my work already so It's not so bad I guess. I don't have alot of work this week also so I'll take the hit this time.
Also it depends on the conditions that you have to work with. Open basement with no clutter would be the easiest. Anything other than that the price will go up. Hey just my 2 cents.
Remove and replace 1 outside coach lamp: $75
Cut-in, wire, and install 1 sp switch and 1 exterior coach lamp: $150
Cut-in, wire, and install 1 dedicated 20amp/ 120vac circuit to kitchen countertop and install 1 GFCI receptacle: $250
Cut-in, wire, and install 1 dedicated 20amp/ 120vac circuit to kitchen island and install 1 GFCI receptacle: $200
Ballpark figure: $675 + PERMITS (appx. $45)
Then again, this is in NJ, and in MY area most homes are between 20 and 80 years old.
1.replace existing fixture............37.00
install new fixture and switch fed
from existing circuit.............169.00
2.install 1) 120v 20a circuit and
1)GFCI recept at kitchen counter...149.00
3.install 1) 120v 20a circuit and
1) GFCI recept at kitchen island...149.00
504.00
To many unknowns for me to quote.
Are you cutting in a GFI in the island too?
Anyways it sounds way too low.
I would say more then $500.
After buying matreials, fuel in the truck, and a bit more OH there would be nothing left for the worker. My guess is it would take at least a half day.
"The lady is real nice to me and she is spreading the word about my work already so It's not so bad I guess."
Be carefull with this atitude. What kind of word is she spreading about you? That you are way low in price. Or that you give in on your first quote to a lesser amount by complaining about the price. The idea of giving work away at below cost as advertising may not get you the customers you want.
I remember an auto shop that would give away oil changes at material cost to get more customers because they were slow. This would bring in a lot of the customers that were very cheap with their money and not great for the business. One day the owner got rid of the free coffee pots and found a used pay coffee machine. He said he could not afford to keep buying all the free coffee. So I said "you opened an auto shop to give away repair work but sell coffee?"
Tom
Thier cost of material $200.... Labor $500, $800... Or more. (Depending, lot of variables)
T&M $75-125+ an hour... (Depending on who you call.)
Then again, thats here.... Where you are (regionaly/localy) may be completely different. All the things that make up profit/loss should determine your price. Here overhead is high, we charge more...
Get a good huff of helium and call around to your direct (In your area) compitition to see what thier T&M hourly rates are.
![[Linked Image]](https://www.electrical-contractor.net/ubb/smile.gif)
Base your price on a factor from that, against your operating costs, and what you feel you're worth. By all means, DO NOT UNDER-CUT YOURSELF! (Sorry, just some of my own personal baggage...
![[Linked Image]](https://www.electrical-contractor.net/ubb/rolleyes.gif)
)
Anyway welcome to the forum...
[This message has been edited by e57 (edited 01-11-2006).]
ed,
i agree and disagree with all the answers above. :-)
1st- have you ever done a break even calculation? if not, do it today. do it before you even think about going out and doing more work. postpone/cancel your jobs for today and do.
A-Line has a great list of overhead items. I don't know if it is posted on this board or a different one, but get that list.
Determine all your costs currently (insurance, advertising, vacation, a-z) and don't forget you salary.
this will determine your hourly break even cost. then add the profit you want and you now have an hourly rate. if you are doing service, figure 50% productivity. If you are doing projects, figure 80% productivity (since you are working by yourself, it's impossible to be 100% productive)
let us know what you come up with.
2- DO NOT, I REPEAT DO NOT, base your prices on what the going rate is. What are their costs of doing business? Have they done a breakeven? Are they losing money every call? Do they have new or old equipment? What are their costs for advertising, insurance, health benefits, etc?
Their business and yours are two different entities.
Determine your costs, then figure what you need to do earn that money.
good luck
Edman - First, are you a licensed EC? Are you doing this 'on the side.' You want to spread the word? At $200 you would be better off doing it for free, that's even better advertising. You guys are the ones real EC's complain about constantly. Handymen don't have the same O/H, insurance, or licensing costs as the rest of us.
If this is old work, crawling through attics, fishing wires down walls etc. My price would be $850. How long did it take you to complete this job? Did you pull a permit for the work?
[This message has been edited by A-Line (edited 01-11-2006).]
I came up with $225 thats at $50 an hour. Thats a cheap side job rate, not including material.
A company would need to charge a minimum of $450
I take it he has no workmans comp, what if he falls, and becomes injured, that home owner, may end up paying everything they own, not just $225, or does he have liability insurance, the home burns, and someone is injured or worse, with the new permit fees this year, the permit for this job could be $50 or more, and will the homeowners insurance pay, if no permit was issued? we see this over, and over again, where someone looks at the job, and assumes the cost of doing a job is all profit, take your time, and find out what it will cost you to do this job, with all necessary costs included, part time work, or just starting out is fine, but you will still need to follow the rules, obtain coverages, and know all your expenses, most small one, or two man electrical contractors, have more then $225 to pay each day to cover overhead and operating expenses, before they start working.
[This message has been edited by LK (edited 01-11-2006).]
The variations expressed above show why I can give, at best, a wide price range. A serious price requires an on-site visit.
Let me explain my earlier post better...
Base your price on a factor from that,
This will give you an idea of the market highs and lows, a basic range that will keep you competitive in pricing.against your operating costs,
I saved that list I think A-line put up on another thread in a word doc., List a cost for everything. http://www.markhellerelectric.com/overheadlist.doc and what you feel you're worth. By all means, DO NOT UNDER-CUT YOURSELF!
You need to pay yourself, and the biz need to profit, if not, walk away from it. Let someone else do it for free.(Sorry, just some of my own personal baggage...)
I got my C-10, and Biz lic. a few months before the dot-com crash, 20,000 U-hauls left town over the next few months afterwards. Complete market flip, and an edjucation on why the advice we're all giving is nessesary. No worries though, I am currently gainfully EMPLOYED!
e57,
Well said, i think we all had those scary times, when the times changed.