I got my license Thursday and started on my own Monday(Amazing feeling). I did two job already for T&M. I sent out two invoices. I hate looking at a invoice before I send it knowing I'm worth it but feeling insecure about it. Its not worth dealing with those feelings because I project not getting the job by just giving them a choice before the work starts. I'm done with T&M. "Heres the price, let me know if you want the work done." So much less emotions involved in that delivery method lol.
Exactly! Reach out for coaching so we can make sure your fixed contract prices are accurate and show you how to sell using your numbers! www.The360Electrician.com, and thanks for the comment and support! What state?
Literally just subbed because this guy gets it. As a private contractor a fixed rate makes you look so much better than the guys who charge labor and materials
Thank you my brother, that means a lot. UA-cam is hard and the only real way to show support (besides investing in coaching or a course) really is the subscribe button!
100% agree. Problem is most trades people don't know how to charge correctly. You have to know your daily labor rate! I'm putting out a course on isn't soon. It's my #1 question in coaching.
I just learned a lot from you. I'm just starting to do side work on my own. I don't get many phone calls yet so It's not a problem at the moment. I am good at estimating the time it will take me to complete the job. I am going to start fixed pricing as soon as I get things going. I'm not going to do Angies list . I saw the problems my old boss had with them.
Thats the first super thanks we have had in a looong time! I have a $50 coupon for you to use for coaching or any of our courses. Just email me your infor and I willl verify and send it over to you! THANK YOU FOR SUPPORTING THE CHANNEL!
I have been EC for more than 30 years. For me Mat, equip, labor and overhead make my estimates. Database with everything on it. I can give you the price in 5 minutes in front of the client. Never less than $189 project and over 30k a month
When you tell the client $120/hr (or X amount per hour) most of them will have their eyes opened up real quick. As you mentioned (living in a trailer or mansion) some will only make $25/hr...so for them your hourly rate is absurd. If you say total amount, they don't know the hr rate, even though breaking it down is the same total amount. Just the perspective how people process information. Also I commented to help the algorithm 😁
Appreciate the videos! I’m a 4th year apprentice but I’m taking my journeyman test in 3 days! I want to get my masters and start my own Buisness in the future as well.
Been in business for almost 10 years now in Capetown South Africa..Thanks for the Podcast..All my Qoutes are fixed Contracts rates ,different pricing per task,lights installation has its own price,plugs & theres a rate distribution board wiring ,etc
Going thru this now. Changing all receptacles and switches in a 3 bedroom townhouse. And installing 1 bathroom vanity light. Thought about time and materials. But I've already done about 9 hours and have about 3 more. So the customer says yesterday I hope this doest go over $750 dollars. I'm like wtf. So how much do you want me to charge you. Brothers ex wife. Smh
Suggestions anyone. I'm struggling with the thought of being fair to me but cutting a workable deal for the mother of my brothers kids. I just don't know.
It's family, next time it's best to pass sometimes. What would you charge your brother? Same applies here. Divorce doesn't matter. Obviously you guys are civil so that's how I'd count it. Just my 2 cents. If you don't have enough work to cover it elsewhere then you charge "contractor pricing" and let her know.
This is the podcast for me. I’m getting into the code a lot more and eventually want to go out on my own. I know for a fact I’m not ready. When it comes to pricing, I am absolutely clueless. The owner of the small company I work for avoids letting me see anything to do with $.
Man this is exactly why this channel is a god send. I want to learn how to bid etc. I will definitely be paying for coaching when I pass my c10 license.
I have been working for contractors as employee for 12 years and finally I'm doing side work. I have been charging 50 an hour and have been doing pretty good and I have the customer purchase materials
I do a lot of remodels and t&m is necessary because there's no way of knowing what you're going to run into. When i do new builds and most commercial jobs I quote it but im t&m on remodels and troubleshoiting.
@@AzeveidoMateus How much longer do you have? Reach out for coaching before you start and check out my videos specifically for those like you wanting to be contractors
@@The360Electrician Thanks. I’ll check it out. I already have all of my hours. I already submitted my application to take the test. There’s like a 60 day turnaround time for them to process the application so I’m waiting on that right now.
I have been in business for about 8 months now. Still have my full time job waiting for the calls to come in more consistently before fully committing and quit the full time job. What’s your suggestion on getting more calls to come in?
In Montana my our daily labor rate is 1600 Journeyman and helper. In Los Angeles our rate is 2000. A panel upgrade is a value added job so that would be 3600 parts and labor surface mount. 4200 flush mount
Most contractors put only 20%on material for profit. So 100/hrs labor plus part plus 20% markup on those parts. This is a recipe for never leveling up. Never tie hour price to time.
#1 Keep watching this channel and any others like it. UA-cam is free so the tips that are helpful have the best bang for the buck #2 Book a coaching session. Best $299 you will ever spend. Go from 0 to 3 years experiance in 1 hr. #3 Do the "Ultimate Marketing For Electrical Contractors" www.the360electrician.com Nothing like it anywhere. In 1 hr you have your own marketing print ready system #4 probably the most important, Faith and Family. You need support on the ups and downs.
If you don't charge different rates for different people situations, you are sellling yourself short. Just as the economy is dynamic, so should prices be.
Yes but only to the ones you feel are going to be a pain, or they have some kind of issue that is going to take you more time or cost you more money, and always charge a service call fee to qualify the clients if possible. I don't charge refferals a service call since there is a 90% chance of clossing refferals, but that also up to you. Thanks for the input.
I love this profession and I hope to become a professional electrician one day, but I have a question: Does this profession require me to be tall because I am short😢
Friend on material but at least $300. If it's items like 10 plugs and roll of 12/2 and cut in boxes then you can charge more. You have to make money on parts more then 20% if under $3000-$5000 after that % may work
You may be leaving money on the table. I found that t and m in LA is impossible and illegal for resi service. Montana both can work but fixed always pays more. I don't tie our time to what we charge.
So how the heck do you bid a job!! Theres no videos that actually tells you how to bid they only tell you what bid is the bets but they never tell how ecxactly to do it 😢😢😢😢
I bid based on my customized bidding system which is 5 line items, repeating 1 of them twice and getting my daily labor rate. Then add parts plus a fixed $ amount added to parts, not a %. it's my #1 coaching question
time and material is necessary on troubleshooting / working on old equipment/structures. doesn't take a genius to figure out that you can't give a fixed price when you don't know the full scope of problems that will arise that need fixing.
T&M for small jobs and service work,, bids for medium and larger jobs,IMO. Most States allow homeowners to do their own wiring. If a Home owner does not like your price or attitude, they can always do the work themselves. If your a UA-camr and an EC that likes to live in another State and goof off while your large number of employees do all your work for you, than that business model probably won't work for you. Most homeowners are a pain in the F*ing a*ss,IMO. Thanks for sharing, Russ, 28 years in the Electrical Trade.
I got my license Thursday and started on my own Monday(Amazing feeling). I did two job already for T&M. I sent out two invoices. I hate looking at a invoice before I send it knowing I'm worth it but feeling insecure about it. Its not worth dealing with those feelings because I project not getting the job by just giving them a choice before the work starts. I'm done with T&M. "Heres the price, let me know if you want the work done." So much less emotions involved in that delivery method lol.
Exactly! Reach out for coaching so we can make sure your fixed contract prices are accurate and show you how to sell using your numbers! www.The360Electrician.com, and thanks for the comment and support! What state?
Does your coaching help in bidding in commercial jobs
Depending on size and what's being built. I Use my system on everything u see on my channel so far.
What do you charge per square foot for a custom house?
What city and state? That's not a few line answer I'm MT min code is $12 to $15 sq ft
Wonder how you charge for troubleshooting
How do you estimate a trouble shoot job?
Hey Jeff great video how do you price out to trouble shoot
Literally just subbed because this guy gets it. As a private contractor a fixed rate makes you look so much better than the guys who charge labor and materials
Thanks for tunning in. What state are you in?
The best guy ever , I am learning a lot with your videos , thank you . Greeting from tampa fl
Thank you my brother, that means a lot. UA-cam is hard and the only real way to show support (besides investing in coaching or a course) really is the subscribe button!
@@The360Electrician thank you sir , really important tips to people starting electrical business like me, definetly thanks .
We need more content!!!!!!!! More videos tell us everything!!!!!!!
the most important thing you mentioned is, “experience” - you know how long this job will take.
Yes, without experience, contractors will have a hard time getting off charging hourly!
This is very true. Time and material will drive you crazy and can be less profitable
100% agree. Problem is most trades people don't know how to charge correctly. You have to know your daily labor rate! I'm putting out a course on isn't soon. It's my #1 question in coaching.
I appreciate this video bro !! For us future contractors!! Thanks amigo and gettin the advice
Completely agree on giving a price, it works out better for everyone 👍
Thanks for listening. Curious what other trades think.
I just learned a lot from you. I'm just starting to do side work on my own. I don't get many phone calls yet so It's not a problem at the moment. I am good at estimating the time it will take me to complete the job. I am going to start fixed pricing as soon as I get things going. I'm not going to do Angies list . I saw the problems my old boss had with them.
Thanks!
Thats the first super thanks we have had in a looong time! I have a $50 coupon for you to use for coaching or any of our courses. Just email me your infor and I willl verify and send it over to you! THANK YOU FOR SUPPORTING THE CHANNEL!
Mind opening experience.
Thank you! I'm glad you found the video helpful and that it provided you with a different perspective on pricing electrical work in 2023.
Where you tuning in from?
Hey Jeff , glad to see that you started the podcast. Thank you for your passion and effort to help out your fellows electricians out there
Hey Great to see you post. Been a while how's So Cal life!.
I love being an electrician. I work for a union contractor been doing side work for like 6 years sporadically. I know I do t charge enough
I have been EC for more than 30 years. For me Mat, equip, labor and overhead make my estimates. Database with everything on it. I can give you the price in 5 minutes in front of the client. Never less than $189 project and over 30k a month
Nice
When you tell the client $120/hr (or X amount per hour) most of them will have their eyes opened up real quick.
As you mentioned (living in a trailer or mansion) some will only make $25/hr...so for them your hourly rate is absurd. If you say total amount, they don't know the hr rate, even though breaking it down is the same total amount. Just the perspective how people process information.
Also I commented to help the algorithm 😁
Agreed. And thank you!
I was thinking the same thing.
Appreciate the videos! I’m a 4th year apprentice but I’m taking my journeyman test in 3 days! I want to get my masters and start my own Buisness in the future as well.
Awesome. What state are you in?
Milwaukee, Wisconsin!
Been in business for almost 10 years now in Capetown South Africa..Thanks for the Podcast..All my Qoutes are fixed Contracts rates ,different pricing per task,lights installation has its own price,plugs & theres a rate distribution board wiring ,etc
@tendaimwerenga3250 we're international now! Thanks for the kind words.
Going thru this now. Changing all receptacles and switches in a 3 bedroom townhouse. And installing 1 bathroom vanity light. Thought about time and materials. But I've already done about 9 hours and have about 3 more. So the customer says yesterday I hope this doest go over $750 dollars. I'm like wtf. So how much do you want me to charge you. Brothers ex wife. Smh
Suggestions anyone. I'm struggling with the thought of being fair to me but cutting a workable deal for the mother of my brothers kids. I just don't know.
It's family, next time it's best to pass sometimes. What would you charge your brother? Same applies here. Divorce doesn't matter. Obviously you guys are civil so that's how I'd count it. Just my 2 cents. If you don't have enough work to cover it elsewhere then you charge "contractor pricing" and let her know.
Thanks. It was short, sweet and to the point. Subbed.
You are the best buddy,
This is the podcast for me. I’m getting into the code a lot more and eventually want to go out on my own. I know for a fact I’m not ready. When it comes to pricing, I am absolutely clueless. The owner of the small company I work for avoids letting me see anything to do with $.
Super happy your getting somthing from the channel. Spread the word and thanks for the support. What state?
@@The360Electrician I live in SC but work mostly in Charlotte, NC. I plan on testing in NC BC the license reciprocates to SC.
Smart move, best of luck thanks for being here!
Man this is exactly why this channel is a god send. I want to learn how to bid etc. I will definitely be paying for coaching when I pass my c10 license.
Hello Jeff I have been in the trade since 1986
I have been working for contractors as employee for 12 years and finally I'm doing side work. I have been charging 50 an hour and have been doing pretty good and I have the customer purchase materials
@@stevestewart3816 we dont like you
I do a lot of remodels and t&m is necessary because there's no way of knowing what you're going to run into. When i do new builds and most commercial jobs I quote it but im t&m on remodels and troubleshoiting.
In California it says t+m is illegal .
Yes for residential I belive.
Very inspiring and helpful video 👍🏻⚡
Thanks for the support. Where u tuning in from?
I can’t wait to get my license and get started
What satae?
Virginia
@@AzeveidoMateus How much longer do you have? Reach out for coaching before you start and check out my videos specifically for those like you wanting to be contractors
@@The360Electrician Thanks. I’ll check it out. I already have all of my hours. I already submitted my application to take the test. There’s like a 60 day turnaround time for them to process the application so I’m waiting on that right now.
I have been in business for about 8 months now. Still have my full time job waiting for the calls to come in more consistently before fully committing and quit the full time job. What’s your suggestion on getting more calls to come in?
Check out my marketing for electrical contractors and consider coaching.
125/hour? Where are you based? And how much do you charge for a standard 200amp service upgrade?
In Montana my our daily labor rate is 1600 Journeyman and helper. In Los Angeles our rate is 2000. A panel upgrade is a value added job so that would be 3600 parts and labor surface mount. 4200 flush mount
Where does that 20% come from boss? Thank you
Give me the time in the video you're talking about.
@@The360Electrician 3:27 when charging time and material plus 20%
Most contractors put only 20%on material for profit. So 100/hrs labor plus part plus 20% markup on those parts. This is a recipe for never leveling up. Never tie hour price to time.
Great information!
Thanks, glad you got something out of it.
What tips would you have for a new electrical contractor who is just getting started.
#1 Keep watching this channel and any others like it. UA-cam is free so the tips that are helpful have the best bang for the buck
#2 Book a coaching session. Best $299 you will ever spend. Go from 0 to 3 years experiance in 1 hr.
#3 Do the "Ultimate Marketing For Electrical Contractors" www.the360electrician.com Nothing like it anywhere. In 1 hr you have your own marketing print ready system
#4 probably the most important, Faith and Family. You need support on the ups and downs.
Once I get my liscence I will most definitely take a look at the website and look over the coaching. Still waiting on them to approve my application
You MUST warranty your work for a year
If you don't charge different rates for different people situations, you are sellling yourself short. Just as the economy is dynamic, so should prices be.
Yes but only to the ones you feel are going to be a pain, or they have some kind of issue that is going to take you more time or cost you more money, and always charge a service call fee to qualify the clients if possible. I don't charge refferals a service call since there is a 90% chance of clossing refferals, but that also up to you. Thanks for the input.
I'm in Wyoming...Cody area.
just subbed lots of goodies u giving out
Thanks for the support. Much appriciated.
What state are you tuning in from
@@The360Electrician washington, just passed the masters 😁
Nice. I heard from electricians I coach that Washington is brutal.
@@The360Electrician naw hardest part of any job is showing up 😉
I love this profession and I hope to become a professional electrician one day, but I have a question: Does this profession require me to be tall because I am short😢
What do you mean by round up material to the dollar? So if materials came to $200 you would charge $500?
Friend on material but at least $300. If it's items like 10 plugs and roll of 12/2 and cut in boxes then you can charge more. You have to make money on parts more then 20% if under $3000-$5000 after that % may work
@@The360Electrician appreciate the reply. Cheers
How can I reach out to you brother
@@ripeleafent589 www.the360electrician.com
You should not have to charge tmi for new construction
We all make mistakes some time we are not perfect
service work is always t & m....new construction I quote
You may be leaving money on the table. I found that t and m in LA is impossible and illegal for resi service. Montana both can work but fixed always pays more. I don't tie our time to what we charge.
So how the heck do you bid a job!! Theres no videos that actually tells you how to bid they only tell you what bid is the bets but they never tell how ecxactly to do it 😢😢😢😢
I bid based on my customized bidding system which is 5 line items, repeating 1 of them twice and getting my daily labor rate. Then add parts plus a fixed $ amount added to parts, not a %. it's my #1 coaching question
What were the 5 costs? 1.payroll 2. work comp. 3. Insurance 4. Attrition 5.? 6?
Medical and anything else that ties into having employees. It's my #1 question in coaching.
Not totally true with McDonald's analogy.. Big Mac in Juneau Alaska is double what it costs in small town Kentucky
Everything is illegal in Cali..😂
Are u in Cali?
5 min in get to the point man
Lol you know you can fast forward right
Gotta get the ads in
Respect 🫡🫡🫡
time and material is necessary on troubleshooting / working on old equipment/structures. doesn't take a genius to figure out that you can't give a fixed price when you don't know the full scope of problems that will arise that need fixing.
T&M for small jobs and service work,, bids for medium and larger jobs,IMO. Most States allow homeowners to do their own wiring. If a Home owner does not like your price or attitude, they can always do the work themselves. If your a UA-camr and an EC that likes to live in another State and goof off while your large number of employees do all your work for you, than that business model probably won't work for you. Most homeowners are a pain in the F*ing a*ss,IMO. Thanks for sharing, Russ, 28 years in the Electrical Trade.
Thank you.
@@texassparky thanks for the support