Been in the trade 12yrs. Im 35 and still learning but when I 1st started working for myself I felt guilty charging $30. But i was going nowhere. But my quality and knowledge has kept busheling in more and more work... I slowly realized the value I bring to the table to the point that I only work for those who want and appreciate quality. now I (solo) make 200k in revenue (double from last year) and I realize how insignificant I still am. And this year If i start looking for employees i need to charge enough to sustain a journeyman at around $25ish and an apprentice around $15ish. Thats $85K a year and that's not including workers comp, unemployment, overtime, ect, thatll be close to 100K... Some workers get butt hurt when they find out how much the boss makes. But they fail to realize their job security... Go work for someone who doesn't charge enough and see how long you'll have a job for... been there, done that
I'm a 8 year plumber. I understand what you mean. When you're good at what you do , you charge for it. You're paying for my experience. Don't sell yourself short.
Charging issues always happening. They can spend 100 dollar for one fancy dinner buy can't do it for receptacle repair which gonna last more than 5 years. Undervalued because of some ruthless handyman. But I love them because they always give me tons of job after they screwed up.
Been an electrical contractor for 28 years in Texas. We stopped residential service about 8 years ago...too many handyman and others working for wages. I have always been able to charge premium rates when sending the bills to anyone other than the person actually paying for the work (like a homeowner). Makes a huge difference when it's a plant manager spending the plants money.
Love the energy and solid advice Jeff! I'm looking forward to working together. Anyone who is on the fence about working with Jeff needs to understand that he is the REAL DEAL. I had the honor of sitting down and having lunch with him. He is a true giver. He genuinely cares about the success of his students and if you follow his advice you WILL grow your business in a massive way.
Coming from the guy who loves Electrical contractors just as much as I do. Since he let the cat out of the bag. If you're reading this head over to Joe's UA-cam channel. HE IS THE REAL DEAL, and I can't wait to work with him.
360 electrician, this advice is worth a lot to all electrical contractors. With this mindset set we can all be successful. Thank you again for sharing.
This story clearly helps me out to finally clear my mind, I’m starting my business and all this paperwork is making me crazy i knew how to do the job (being 8 years in the trade) but i didn’t know that having my business will involved so much legal and different procedures well, before watching this video i was debating myself with lowering my prices to get some jobs since I’m low in customers (the loyal ones knows my job) but i want more customers so i can grow but this house flippers has way lower prices but now i know that is a waste of energy to lower my prices just to catch the cheap customers because I’m in need but I’ll keep pushing and do what you said i perfectly know what kind of job i do even the inspector told me to do more jobs so thank you for clarifying my thoughts.
Just did job for an acquaintance last night. Initial bid was for just over 800 all in. He flipped. I told him as a FELLOW business owner, he wants fair pay for his work. I broke down every bit of the bid and he asked me what I could do to bring down the price. I told him "nothing." I don't control materials costs, and I'm not lowering my labor fees. He was in a serious pinch having hired another guy who legit did bad work and ripped him off. Long story, heart strings got the better of me and I re did the bid and scope. Needless to say, I put I 13 hours and made less than minimum wage by the end. DON'T haggle/lower your fees. Charge what you charge. Can't get them all.
Awesome vid, about to start an electrical business on my own… the knowledge plus the fees that come with a contractor license.. ins..bonds..etc you need to know your worth and not be afraid to $$. The worst that could happen is they just say no and move on to the next project
Thank you Jeff I got my license 3 months ago I’ve been watching all your video’s and you really helped me a lot thank you I’ve wired homes since 1984 I’m in a family business of building homes l worked for an electrical contractor for 5 years here recently and I finally got my license now electrical is my passion I would love to get my business running right now I’m committed to work for my family building houses still please keep up the informational videos
Thanks for the support James. Definatly take my marketing for electricians course at my website www.the360electrician.com and get all you marketing up to speed. Keep in touch.
You know what it's a great and simple concept and you know what I've never heard this before. I love this and going to change how I view my worth. Thank you for the wonderful story
The workmanship speaks for itself. The customer realizes they got their monies worth when they dont have to call you back to fix the same thing. I have one rule as an electrical contractor: The price I give is the price I give Non negotiable you like it great you dont also great. My quality to price ratio is unmatched. Plus I guarantee all my work.
My philosophy : You cannot think about money the same as the other person. You don’t know what their situation with money is and they don’t know what yours is. Point is - $100 might be worth a lot of money for someone vs someone who may think $100 is not much Great video!
Loving the videos Jeff. Ive been in the trade for 7 years now (industrial) but I’m looking to get into residential contracting. A little bit different of an animal so I have much to learn. I appreciate these videos and I subscribed to you.
yes your education is worth a lot, being a master elecrical contractors takes time, money and headache.. all those are always passed to the customers- if i had to choose to re do my career, ill fucking do it all over again
I spent years learning and finding the device to put the black X on when other could not find it. Always a paycheck. Now I am working on finally getting my Elec license with 30 years of experience. Mostly to do machine automation on my own. I keep seeing companies charging, for example, $40,000 for a $5,000 upgrade on a machine. One time many years ago, I called a SCADA software company up with a question on their software and I was told I had to pay $34,000 to upgrade the software just to get the question answered.
I’m currently scheduled to take my contractors exam in April of this year, I’m very excited about the new chapter in my life, that has always been a question I’ve always had “How much should I charge?” I’m in California, does anyone know of any guidelines on how to charge the right amount? For example, how much should a service call cost? Any help would be greatly appreciated, thank you in advance.
@@luisalcala8559 no problem. I've been on the quest for the "right" price strategy for 15 years. That simple statement is about as simple as it gets. Costs and overhead are generally easy to define, profit is the only thing that is truly negotiable.
Man I have a good question, what do you suggest the best option for someone right out of a vocational electrical school?? No company will hire me. I feel my only option is to apply at ibew apprentice program.
Hang in there, this weekend I have an amazing video for you that I think may help. Electrical Apprentice 101, my 21 irrefutable laws for electricians just starting out in the trade. Make sure you watch and comment. It will be out on our podcast channel on UA-cam @the360electricianpodcast
Hope not that dope, don't want the DEA subscribing to the channel...@vernonbrink274 the only reason i'm dope is you guys. Otherwise I wouldn't be here. Thanks for the support. Reach out anytime.
I love this ! Even working on the side I charge $80 an hour and co workers eyes widen , when I know what I’m worth and bringing to the table , and their taking time out of there day to go swap out a light for $40. I tell them if I was in business for myself it would be minimum $120/ hr all day. People never realize how valuable their time is, and also all the knowledge, experience, and education you’ve put into this field. They like the handyman doing it for $20-30 / hr until they see their quality and craftsmanship. I would pay for more quality and craftsmanship all day.
I'd smile at you, let you finish the work you started, go on and on with your upsell and then find a replacement and never call you again. This is a slippery slope argument that doesn't take into account market forces. Water flows to a low point. If a trade has a deficit, and therefore, tradespeople in that trade can charge a premium, yet the bar for entry isn't particularly high (unlike in your story where there may be one or two experts in the country) then that void will soon be filled by newcomers. Right now, there's a deficit in electricians. This will not last. Some high-end firms in Philly jacked up their prices considerably last year and they are now wondering why long-term customers have abandoned them. Pricing more for emergencies because they are emergencies is not only rotten but bad for business.
Everyone has to do what they think is best for them. 17 years 2 states got no issues here. We say no everyday and watch the guys that say yes drop in to get coaching on the weekly. I don't mind coaching but giving this info for free may save some poor sole who's employees drive nicer cars then them an ah ha moment. BTW the only people you shouldn't so call d*ck is your employees. Hire only ones that are in it for the long haul. Give great performance pay and opportunities to always be there own boss (mentality). That way they are not limited. Thise that don't want to level up need to get out.
I kind of wanted to like and subscribe, but you keep bringing it up like 6 times in the video. Most people know how to like/subscribe, constant reminders just make them not want to
Been in the trade 12yrs. Im 35 and still learning but when I 1st started working for myself I felt guilty charging $30. But i was going nowhere. But my quality and knowledge has kept busheling in more and more work... I slowly realized the value I bring to the table to the point that I only work for those who want and appreciate quality. now I (solo) make 200k in revenue (double from last year) and I realize how insignificant I still am. And this year If i start looking for employees i need to charge enough to sustain a journeyman at around $25ish and an apprentice around $15ish. Thats $85K a year and that's not including workers comp, unemployment, overtime, ect, thatll be close to 100K... Some workers get butt hurt when they find out how much the boss makes. But they fail to realize their job security... Go work for someone who doesn't charge enough and see how long you'll have a job for... been there, done that
Wait? Your planning a paying a journeyman 25$ and hour? Or did I misunderstand?
@@2163mrjeff great point
I'm a 8 year plumber. I understand what you mean. When you're good at what you do , you charge for it. You're paying for my experience. Don't sell yourself short.
Yes sir, thanks for the coment!
After 15 years Being in business, all I can tell you is this! You can't ever charge enough...
FACTS!
Charging issues always happening. They can spend 100 dollar for one fancy dinner buy can't do it for receptacle repair which gonna last more than 5 years. Undervalued because of some ruthless handyman. But I love them because they always give me tons of job after they screwed up.
So true!
Been an electrical contractor for 28 years in Texas. We stopped residential service about 8 years ago...too many handyman and others working for wages. I have always been able to charge premium rates when sending the bills to anyone other than the person actually paying for the work (like a homeowner). Makes a huge difference when it's a plant manager spending the plants money.
100% agree!
Love the energy and solid advice Jeff! I'm looking forward to working together.
Anyone who is on the fence about working with Jeff needs to understand that he is the REAL DEAL. I had the honor of sitting down and having lunch with him. He is a true giver. He genuinely cares about the success of his students and if you follow his advice you WILL grow your business in a massive way.
Coming from the guy who loves Electrical contractors just as much as I do. Since he let the cat out of the bag. If you're reading this head over to Joe's UA-cam channel. HE IS THE REAL DEAL, and I can't wait to work with him.
Know your value fellow electricians
360 electrician, this advice is worth a lot to all electrical contractors. With this mindset set we can all be successful.
Thank you again for sharing.
This story clearly helps me out to finally clear my mind, I’m starting my business and all this paperwork is making me crazy i knew how to do the job (being 8 years in the trade) but i didn’t know that having my business will involved so much legal and different procedures well, before watching this video i was debating myself with lowering my prices to get some jobs since I’m low in customers (the loyal ones knows my job) but i want more customers so i can grow but this house flippers has way lower prices but now i know that is a waste of energy to lower my prices just to catch the cheap customers because I’m in need but I’ll keep pushing and do what you said i perfectly know what kind of job i do even the inspector told me to do more jobs so thank you for clarifying my thoughts.
Just did job for an acquaintance last night. Initial bid was for just over 800 all in. He flipped. I told him as a FELLOW business owner, he wants fair pay for his work. I broke down every bit of the bid and he asked me what I could do to bring down the price. I told him "nothing." I don't control materials costs, and I'm not lowering my labor fees. He was in a serious pinch having hired another guy who legit did bad work and ripped him off. Long story, heart strings got the better of me and I re did the bid and scope. Needless to say, I put I 13 hours and made less than minimum wage by the end. DON'T haggle/lower your fees. Charge what you charge. Can't get them all.
Thank you sir
Love this story!!!!!!! Gave me a tremendous perspective!!!
Awesome, glad it helped. Opened my mind when I head it. Where you tuning in from?
That is the best way to put that that I've ever heard!
Thanks, not my story but I had to share how it applies to us.
Awesome vid, about to start an electrical business on my own… the knowledge plus the fees that come with a contractor license.. ins..bonds..etc you need to know your worth and not be afraid to $$. The worst that could happen is they just say no and move on to the next project
Thank you Jeff I got my license 3 months ago I’ve been watching all your video’s and you really helped me a lot thank you I’ve wired homes since 1984 I’m in a family business of building homes l worked for an electrical contractor for 5 years here recently and I finally got my license now electrical is my passion I would love to get my business running right now I’m committed to work for my family building houses still please keep up the informational videos
Thanks for the support James. Definatly take my marketing for electricians course at my website www.the360electrician.com and get all you marketing up to speed. Keep in touch.
You know what it's a great and simple concept and you know what I've never heard this before. I love this and going to change how I view my worth. Thank you for the wonderful story
Thanks for the support. Reach out if you need more help
What ruins the business is all of these handyman who don't know what they're doing.
Or they do is a favor.
@@The360Electrician yeah, I can see that. Thats when they call back and you get to charge em double now. To undo what they did,and do it right.
Highly recommend the 1 on 1 coaching he provides!! Opened up my eyes to help me level up
Oscar great seeing you on our first session. I'm glad you got value.
Those last 2 minutes is what I needed to hear, because I was ready to throw in the towel
Just made my day. Hang in there.
Love the advice and perfect example
Thanks for the support.
The workmanship speaks for itself. The customer realizes they got their monies worth when they dont have to call you back to fix the same thing. I have one rule as an electrical contractor: The price I give is the price I give Non negotiable you like it great you dont also great. My quality to price ratio is unmatched. Plus I guarantee all my work.
Well said. Never sell yourself short. If you do you will never move forward. The warranty is super important.
I hear you boss.
Where you tuning in from?
My philosophy : You cannot think about money the same as the other person. You don’t know what their situation with money is and they don’t know what yours is. Point is - $100 might be worth a lot of money for someone vs someone who may think $100 is not much
Great video!
Yes reading the client is important.
I've been saying the same thing for a long time, and I don't have a problem walking away
Loving the videos Jeff. Ive been in the trade for 7 years now (industrial) but I’m looking to get into residential contracting. A little bit different of an animal so I have much to learn. I appreciate these videos and I subscribed to you.
Aaron thanks for the support. Reach out when you need. That's what this channel is about. Electricians helping electricians level up.
Really appreciate your info!! Thank you sir
Thanks for the support!
Thank you for this perspective!
As an aspiring electrical contractor, I greatly appreciate this.
Glad it helped. Thanks for the support and commenting.
Yes,knowing =money
Thanks, now I am awaken!😀
yes your education is worth a lot, being a master elecrical contractors takes time, money and headache.. all those are always passed to the customers-
if i had to choose to re do my career, ill fucking do it all over again
So many people in all trades selling themselves short. If you’re good at what you do an provide a quality product, charge accordingly
I wish I could make a big and commercial like you have but I'm I'm getting older and I don't I can't find any Is skilled guys
I don't know about big but it was fun. I just signed up with NEXT for the Montana biz. Hang in there.
Thank you, your are right about this advice. I’ve heard it before making this the second time. Thank you.
Great video, thanks Jeff!!
I spent years learning and finding the device to put the black X on when other could not find it. Always a paycheck. Now I am working on finally getting my Elec license with 30 years of experience. Mostly to do machine automation on my own. I keep seeing companies charging, for example, $40,000 for a $5,000 upgrade on a machine. One time many years ago, I called a SCADA software company up with a question on their software and I was told I had to pay $34,000 to upgrade the software just to get the question answered.
Wow...the world is changing. We better keep up and charge to keep up with the times. Thanks for sharing.
Some of us work too hard to keep things the same
I have heard this story before, but it was with a cruise ship. Same exact type of story. Good lesson though
Great story, absolutely love it 💯 💯
Good stuff. I don't charge enough.
Spot on
Thank you!! So legit!
Thanks for the support
I’m currently scheduled to take my contractors exam in April of this year, I’m very excited about the new chapter in my life, that has always been a question I’ve always had “How much should I charge?”
I’m in California, does anyone know of any guidelines on how to charge the right amount? For example, how much should a service call cost?
Any help would be greatly appreciated, thank you in advance.
Male sure you do a coaching session. We'll get you up to speed in 1 session
Direct job cost plus business overhead plus profit.
There are only three parts to any pricing strategy.
@@wuzgoanon9373 thank you, I appreciate the help.
@@luisalcala8559 no problem. I've been on the quest for the "right" price strategy for 15 years. That simple statement is about as simple as it gets. Costs and overhead are generally easy to define, profit is the only thing that is truly negotiable.
that was great story
Man I have a good question, what do you suggest the best option for someone right out of a vocational electrical school?? No company will hire me. I feel my only option is to apply at ibew apprentice program.
Hang in there, this weekend I have an amazing video for you that I think may help. Electrical Apprentice 101, my 21 irrefutable laws for electricians just starting out in the trade. Make sure you watch and comment. It will be out on our podcast channel on UA-cam @the360electricianpodcast
@@The360Electrician awesome man, I'll check it out and keep posted for the video. Subscribed btw
Great Video
Great info.
👏🏼👏🏼👏🏼👏🏼
Wow. Lovely video
In 2012 I did 980k by myself and I still only made 72k on my return 1040 form
Somethings not right? What happened?
Subscribed bro!!!
Everyone wants a great wage but don't want to pay it to another person.
It's cheaper and easier to stay home and go broke, then to go out and work and not charge what you are worth.
I have an Electrical company in Vancouver BC, I would like to benefit from your work and build my business here. I would like coaching too.
Sure thing I have a few BC clients. Head to the link in the description or www.the360electrician.com. talk soon!
👍
Thanks for the support
Hey Jeff u are to damn dope
Hope not that dope, don't want the DEA subscribing to the channel...@vernonbrink274 the only reason i'm dope is you guys. Otherwise I wouldn't be here. Thanks for the support. Reach out anytime.
That's why Cali won't go nuclear. 😂
I usually hear the same joke about the big ship.
The only electrician in my market asking 100k and hour 👌
Love it!
Love it
I love this ! Even working on the side I charge $80 an hour and co workers eyes widen , when I know what I’m worth and bringing to the table , and their taking time out of there day to go swap out a light for $40. I tell them if I was in business for myself it would be minimum $120/ hr all day. People never realize how valuable their time is, and also all the knowledge, experience, and education you’ve put into this field. They like the handyman doing it for $20-30 / hr until they see their quality and craftsmanship. I would pay for more quality and craftsmanship all day.
I'm not trying to be a hater and you're probably worth that but get a contractors license because some of us are out here are doing it legit.
I'd smile at you, let you finish the work you started, go on and on with your upsell and then find a replacement and never call you again. This is a slippery slope argument that doesn't take into account market forces. Water flows to a low point. If a trade has a deficit, and therefore, tradespeople in that trade can charge a premium, yet the bar for entry isn't particularly high (unlike in your story where there may be one or two experts in the country) then that void will soon be filled by newcomers. Right now, there's a deficit in electricians. This will not last. Some high-end firms in Philly jacked up their prices considerably last year and they are now wondering why long-term customers have abandoned them. Pricing more for emergencies because they are emergencies is not only rotten but bad for business.
Everyone has to do what they think is best for them. 17 years 2 states got no issues here. We say no everyday and watch the guys that say yes drop in to get coaching on the weekly. I don't mind coaching but giving this info for free may save some poor sole who's employees drive nicer cars then them an ah ha moment. BTW the only people you shouldn't so call d*ck is your employees. Hire only ones that are in it for the long haul. Give great performance pay and opportunities to always be there own boss (mentality). That way they are not limited. Thise that don't want to level up need to get out.
I kind of wanted to like and subscribe, but you keep bringing it up like 6 times in the video. Most people know how to like/subscribe, constant reminders just make them not want to
I hear you, unfortunately 80% of people watching never do. I'll try to keep it to a minimum. Thanks for the input.