Hey #ohno yes i think wrong words and terms cause us to loose more jobs. I have a video on "using the right words" let me know what you think. Thanks for the support by the way.
Great vid. Over the years I’ve realized you have to know your business and price accordingly. In our market a lot of unlicensed contractors do electrical work so when a customer hires a licensed pro they are thrown off by the pricing. At the end of the day you can’t help everyone and you can’t help anyone if you don’t charge enough to stay in business.
I did fixed priced but after getting burnt would ask specific questions like how long would it take to get into the loading dock, access to freight elevator etc. One rush job was promised quick easy access. Only one person had the key for freight elevator and he was AWOL. Unloaded over 500' of conduit , ladders, etc..Finally packed up and went home. Later found it was payday and guy was at a bar drinking his lunch. Owner told me I should have just carried my stuff up to the eigth floor. Told him have a nice day and get some other contractor. Had places tell me that I could work late and all day on Saturdays unti
Great video. However, I do not let my devices get damaged and so I keep my materials cost doen. I do agree you should be able to re coupe the time to aquire materials. Don't forget sales tax.
Well Jeff for one thing you're a good salesman. You must be able to just Sell where I would probably fail on selling it. I've worked for companies that have used their own flat rate pricing book. It's a good sales tool because it's like a 3rd party you present it to the customer you point to the task you share it's not much money and they can't argue with you just said well that's what it is that's what I'm told to charge it works really good. The only problem is compiling a book take some time.
I think price books have its place. I've never used one it takes to long, the process isn't personal but I agree on the 3rd party benifit. I have a trick on that I'll try and get out on the channel. Bottom line is if you need to be a better salesperson then listen to audio books, UA-cam videos, do coaching with me etc. Get better at selling. It's the lifeline of any business. No sale no money!
Hey there! Just found you and your videos have already been SO helpful to my husband and me! We are two years into our contracting business and wow, what an eye opener into the real cost of running your own show! Quick question: what job management software do you use? We have been using one that we are really unhappy with! Also, do you do private coaching? We are very interested if so! Thank you for your time! Monica
Thanks for the support. Super happy you are getting value out of the channel. I do, do coaching and marketing/paperwork courses. Head over to www.the360electrician.com. reach out anytime.
Great vid big dog I’m trying to get my c10 also for SD county any tips on books to purchase and study to pass the test I have my hours locked in already . Thanks !
How do you handle people that don't even want to pay for because they think is too much? Like is a fair price what I normally ask for right on the middle and they come at me with "oh is too much. I'll get another guy that will do it for less" it drives me crazy and I just feel like quitting because that's the people I have dealt with. It's sad they don't want to pay for what you been working hard for all this years.
That's less important than you think. Unless you're in a very small town, it's impossible, what's more important is knowing your numbers. Who care what i sell it for if your not going to make money matching it. Only on commercial bids that go out to everyone you may have an issue.
When you said you add two more guys to the job, do you charge extra for them??, here the hr rate is per hr per guy, so if I charge a customer $150 hr and I spent 2 hrs that’s 300 right there but if I needed a second pair of hands in the middle of the job that will be an extra $150, si it’ll be for 3 hrs labor $450 when in real time it was only 2 hrs. Does it make sense?
I charge 50 an hour for an apprentice. So for me and one apprentice, it would be 150 and hour. In my area, I can only get away with charging 100 an hour for jman and masters. Don't forget the 30% markup on material
seems like hourly is woking out way better for you. $150 an hour works out to $2400 a day for two JWs a day and your fixed contract price was 1200-1600 a day for two electricians labor
I think everyone does the funny part is we used to tell them hold the phone up and I'll see how much it'll cost based on what I see except now they actually can hold the phone up and you can see what they need
soooo is my hourly $150 per guy meaning $300 an hour if I have two guys on a 1 day 8 hour project? I don't do much service but even for my pre construction jobs I'm not sure what to do hourly, an estimating program I had told me $35 an hour a while back. I just need a little clarification I'm going from low voltage to electrical, two different animals as you probably know.
In our market it's about 125 /hr for Journeyman and 75 /hr for helper for sub contract work and 150 /75 direct to customer now. That doesn't include parts plus markup.
@@wileycoyote556 just genuinely curious, so a journey man makes $100/hr ($16k-18k /mo) in Oregon, assuming they are regularly employed on projects? Or is that what a business bills including overheads and journey man gets lets say $60/hr? I know a couple guys who have Design and Build firms. They employ electricians in house and the top guys make around $140k/yr which roughly amounts to ~$70/hr. So is that super low? This is in Bay Area, CA.
I never tell the customer how many man-hours the job will take. I will give them a basic timeline but never man-hrs. If your guys get done early, some hour counting customers will want a discount to reflect that. You need these “windfalls” to make up for the labor overrun jobs
No I don't either. It's all about location I guess. Lol. Marking a 89 cent single pole switch up to $20 is bad buisness also. Question , what do you tell the customer who confronts you on robbing them for the part??? You need not anwser. They've already figured you for a crook. Lol. That's bad buisness. You might get them one time. But you can bet they'll screw your name all over town. Every chance they get. Honestly in my opinion most of this video was advice on how to rip folks off. Not trying to be ugly. Just stating my thoughts. His practices won't work for me.
Just do fixed pricing, people I’ve seen really don’t like to hear 150$ an hour. So I just do fixed so the can think what ever they want, but they can’t say that’s too expensive per hour. I got some real negative feed back on telling people hourly anything over 100$, so now I just tell them fixed on everything. That way I can account for all the time in the background, like paperwork, stocking parts, drive time, and insurance. That’s all real and part of the job as well. Great video
Thanks for sharing your thoughts. No right answers, whatever works for you and your comfortable with is good for me. I just sold a 200amp panel upgrade for 11k. Super easy, spotted in a great location. It's a 4 million dollar house with high liability, parts total 2.5k. Am I ripping them off? How much does an $.89 switch really cost you. It's more like $12. You have to see all sides. 1. It takes time to get it stock it and deliver it. 2. You bring the shop and tech to them, do lawyers, doctors or even tire shops do that. 3. What if the switch goes bad in 4 days? Not common but what if it does. Any decent Electrician has a 1 year warranty. Now you lost money. Just saying we need to think diffrent if you want if you want to get out of the electrical rat race. Those days are gone $6 a gallon gas will bankrupt you. Mark your black X's. At least see how it goes.
While I understand your point of view being a business owner, I'd never hire you on principle for any big project like a remodel. You seem to be a person who'd make a customer at job B pay for your mess-ups at job A to remain profitable. That is just shady because your aim is to keep your business profitable by ripping off customers rather than learning from your mistakes and improving your skills like estimation, material stocking etc. For example, I have never seen an electrician stock up inventory in advance. Thats a recipe for disaster unless you are a large commercial business with tens of projects going on at the same time. Most likely, you are buying materials for that job. So marking up your cost because you don't know how to keep materials safe for example is a short coming on your part and you are making the customer pay extra. Good for you if it works, but it is just not cool. You pad on labor, for sure because your don't want to end up in a bind. But be transparent about material costs.
Really like that phrase " his investment". Good angle to use to sell jobs. It is an investment
Hey #ohno yes i think wrong words and terms cause us to loose more jobs. I have a video on "using the right words" let me know what you think. Thanks for the support by the way.
@@The360Electrician do u still have slots open to sign up??
I'm a new contractor this was soooo informative, helpful and encouraging. Thanks
Great to here. Keep an eye out for our ebook coming soon. 15 years of experience in 15 min!
You’re so right about having to charge extra due to the switches & receptacles getting damaged in the vans or stock
thanks for your information
Great vid. Over the years I’ve realized you have to know your business and price accordingly. In our market a lot of unlicensed contractors do electrical work so when a customer hires a licensed pro they are thrown off by the pricing. At the end of the day you can’t help everyone and you can’t help anyone if you don’t charge enough to stay in business.
Well said Omar. Illegal contracting is a big problem. Unfortunately I don't see it getting any better anytime soon.
well said
I did fixed priced but after getting burnt would ask specific questions like how long would it take to get into the loading dock, access to freight elevator etc. One rush job was promised quick easy access. Only one person had the key for freight elevator and he was AWOL. Unloaded over 500' of conduit , ladders, etc..Finally packed up and went home. Later found it was payday and guy was at a bar drinking his lunch. Owner told me I should have just carried my stuff up to the eigth floor. Told him have a nice day and get some other contractor. Had places tell me that I could work late and all day on Saturdays unti
Great video. However, I do not let my devices get damaged and so I keep my materials cost doen. I do agree you should be able to re coupe the time to aquire materials. Don't forget sales tax.
I love the information, as am studying to get my c10. Thank you
Awesome, C10 So California. Which part?
its hard to leave an open bid with no cap on price open ended
Jeff can you do a Session of the monthly meeting on hiring how to hire qualified electricians where to find them And all the above. Thanks
That's a great topic for our next members only live meet up! Next thursday...
Thanks for the video! Appreciate you sharing your experience and details about business... it's helpful!
Glad you enjoyed it!
8 min video packed full of Gem's!! Thank you, this helped a lot
Thanks for supporting the channel. Hope you get value from it!
The ok bid is $1200 that includes 2 guys
This was almost 3 years old, prices are almost doubled since then. Where are you tuning in from?
@@The360Electrician California
Well Jeff for one thing you're a good salesman. You must be able to just Sell where I would probably fail on selling it.
I've worked for companies that have used their own flat rate pricing book. It's a good sales tool because it's like a 3rd party you present it to the customer you point to the task you share it's not much money and they can't argue with you just said well that's what it is that's what I'm told to charge it works really good. The only problem is compiling a book take some time.
I think price books have its place. I've never used one it takes to long, the process isn't personal but I agree on the 3rd party benifit. I have a trick on that I'll try and get out on the channel. Bottom line is if you need to be a better salesperson then listen to audio books, UA-cam videos, do coaching with me etc. Get better at selling. It's the lifeline of any business. No sale no money!
usually our clients want to know full price
How do I estimate your jobs.....can u make a video with a blueprint to show us an example
Yes ill add to my content list.
@@The360Electrician thanks....
👀
@@The360Electrician Do you know of any electricians who charge per opening or per device?
Hey there! Just found you and your videos have already been SO helpful to my husband and me! We are two years into our contracting business and wow, what an eye opener into the real cost of running your own show!
Quick question: what job management software do you use? We have been using one that we are really unhappy with! Also, do you do private coaching? We are very interested if so! Thank you for your time! Monica
Thanks for the support. Super happy you are getting value out of the channel. I do, do coaching and marketing/paperwork courses. Head over to www.the360electrician.com. reach out anytime.
awesome men thank you this been really helpful.
Glad it helped
Great vid big dog I’m trying to get my c10 also for SD county any tips on books to purchase and study to pass the test I have my hours locked in already . Thanks !
You can do it! Let us know when you pass.
Thank you for these videos
Thanks for the Sub and the support!
Awesome video
Thanks for the support
Thank you very good information
Thank for sharing
if you are over priced you get no work
Great content
How do you handle people that don't even want to pay for because they think is too much? Like is a fair price what I normally ask for right on the middle and they come at me with "oh is too much. I'll get another guy that will do it for less" it drives me crazy and I just feel like quitting because that's the people I have dealt with. It's sad they don't want to pay for what you been working hard for all this years.
you have to know your competators prices also guys ok your competation prices
That's less important than you think. Unless you're in a very small town, it's impossible, what's more important is knowing your numbers. Who care what i sell it for if your not going to make money matching it. Only on commercial bids that go out to everyone you may have an issue.
When you said you add two more guys to the job, do you charge extra for them??, here the hr rate is per hr per guy, so if I charge a customer $150 hr and I spent 2 hrs that’s 300 right there but if I needed a second pair of hands in the middle of the job that will be an extra $150, si it’ll be for 3 hrs labor $450 when in real time it was only 2 hrs. Does it make sense?
Yes it makes sense, but we charge different for helper/vs electrician, but yes you always charge the customer.
I charge 50 an hour for an apprentice. So for me and one apprentice, it would be 150 and hour. In my area, I can only get away with charging 100 an hour for jman and masters. Don't forget the 30% markup on material
Nice....TY
Great video, can you do a video of commercial vs residential rates and how you break that down. Thanks.
I'll try and get into.more detail soon as I have time. Thanks.
seems like hourly is woking out way better for you. $150 an hour works out to $2400 a day for two JWs a day and your fixed contract price was 1200-1600 a day for two electricians labor
Wow that was a year ago. How times change. $150 / Journeyman and $75 for helper at the time I think.
@@The360Electrician how has it changed is it more expensive now? My area in Ontario seems very expensive now
Yes everything is more expensive and our rates have gone up 20%
I hate when a customer calls you for a troubleshooting call and asks upfront what it's going to cost
I think everyone does the funny part is we used to tell them hold the phone up and I'll see how much it'll cost based on what I see except now they actually can hold the phone up and you can see what they need
soooo is my hourly $150 per guy meaning $300 an hour if I have two guys on a 1 day 8 hour project? I don't do much service but even for my pre construction jobs I'm not sure what to do hourly, an estimating program I had told me $35 an hour a while back. I just need a little clarification I'm going from low voltage to electrical, two different animals as you probably know.
In our market it's about 125 /hr for Journeyman and 75 /hr for helper for sub contract work and 150 /75 direct to customer now. That doesn't include parts plus markup.
That sounds similar to Oregon, 1 journeyman bills out around 100/hr and up. 35/hour is less than half of what you should be charging.
@@wileycoyote556 just genuinely curious, so a journey man makes $100/hr ($16k-18k /mo) in Oregon, assuming they are regularly employed on projects? Or is that what a business bills including overheads and journey man gets lets say $60/hr? I know a couple guys who have Design and Build firms. They employ electricians in house and the top guys make around $140k/yr which roughly amounts to ~$70/hr. So is that super low? This is in Bay Area, CA.
@@lapseofeternity no, the work bills out from the company at 100/hr and the journeyman actually makes 40-50/hour on average
@@wileycoyote556 makes sense, 🙏 thanks
I never tell the customer how many man-hours the job will take. I will give them a basic timeline but never man-hrs. If your guys get done early, some hour counting customers will want a discount to reflect that. You need these “windfalls” to make up for the labor overrun jobs
Windfalls? I don’t think a clients project should pay for another clients bad project. Be fair at every job.
150/hr per man hourly or for 2 men?
Back when I recorded it 2 man. Now that is 1 man.
I dont know any customer who is going to pay $150/hr
I agree. $150/hr and you better be performing some mission critical proprietary service work.
No I don't either.
It's all about location I guess.
Lol.
Marking a 89 cent single pole switch up to $20 is bad buisness also.
Question , what do you tell the customer who confronts you on robbing them for the part???
You need not anwser.
They've already figured you for a crook.
Lol.
That's bad buisness.
You might get them one time.
But you can bet they'll screw your name all over town.
Every chance they get.
Honestly in my opinion most of this video was advice on how to rip folks off.
Not trying to be ugly.
Just stating my thoughts.
His practices won't work for me.
Just do fixed pricing, people I’ve seen really don’t like to hear 150$ an hour. So I just do fixed so the can think what ever they want, but they can’t say that’s too expensive per hour. I got some real negative feed back on telling people hourly anything over 100$, so now I just tell them fixed on everything. That way I can account for all the time in the background, like paperwork, stocking parts, drive time, and insurance. That’s all real and part of the job as well.
Great video
Thanks for sharing your thoughts. No right answers, whatever works for you and your comfortable with is good for me. I just sold a 200amp panel upgrade for 11k. Super easy, spotted in a great location. It's a 4 million dollar house with high liability, parts total 2.5k. Am I ripping them off? How much does an $.89 switch really cost you. It's more like $12. You have to see all sides.
1. It takes time to get it stock it and deliver it.
2. You bring the shop and tech to them, do lawyers, doctors or even tire shops do that.
3. What if the switch goes bad in 4 days? Not common but what if it does. Any decent Electrician has a 1 year warranty. Now you lost money.
Just saying we need to think diffrent if you want if you want to get out of the electrical rat race. Those days are gone $6 a gallon gas will bankrupt you.
Mark your black X's. At least see how it goes.
@@The360Electrician except you’re not a doctor, lawyer, or tire shop. Anyone can get away with gouging someone once, but people wise up.
While I understand your point of view being a business owner, I'd never hire you on principle for any big project like a remodel. You seem to be a person who'd make a customer at job B pay for your mess-ups at job A to remain profitable. That is just shady because your aim is to keep your business profitable by ripping off customers rather than learning from your mistakes and improving your skills like estimation, material stocking etc. For example, I have never seen an electrician stock up inventory in advance. Thats a recipe for disaster unless you are a large commercial business with tens of projects going on at the same time. Most likely, you are buying materials for that job. So marking up your cost because you don't know how to keep materials safe for example is a short coming on your part and you are making the customer pay extra. Good for you if it works, but it is just not cool. You pad on labor, for sure because your don't want to end up in a bind. But be transparent about material costs.
🫶
✌️
Wow!
Thank you
😎
Hope it helped.