I posted this question on another forum and i didn't get much response and most people are part of other forms so you might of read this before but here goes...I was wondering if anyone knows how electrical contracting business is for the Indiana PA and surrounding areas. Does anyone no what the hourly rates in that area would be? I'm looking at a 50 mile radius for either contracting residential and light commercial, and service work for industrial, commercial, and residential.What do you guys think about just calling some Contractors either electrical or general and asking them how the area is for work? Also were would i look to get the population for the area and the average cost of homes, income ect. I know i will be competing against every joe handyman out there so Any info will help. Thanks
My advise is call your competition and act like a real customer, and find out their hourly rates, and what they charge for various services.
The newspaper, realtors, even marketing firms can help you out with the other info you are looking for. One of the best resources for information pertaining to your competition is actually the inspectors themselves. They can help out with info too.
Find out the average household income for the area. That will tell you a lot. If the area is below average, you'll have a hard time getting them to pay a decent rate. The average median income for the US is $67,000. For my state the avg median is $62,000. But the average for my area is over $100,000. These people just want good service. But in a lower area they want a cheap price. Try an internet search for statistics on the area you're thinking about.