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Pricing Your Time



 Dec, 23 - 2016   Business

Quoting for a job should be as simple as working out the cost of materials and the time required. So how do you get a realistic handle on those two components? 

I’m sure as a professional tradesmen you want nothing more than to find a price which meets the expectations of your customers. However, what do you do when the price starts becoming more competitive? Do you stick to your pricing, fit it cheaper risking having to return or work for less?

Before you decide know that there are alternatives.

For example, investing in quality goods. This will make the installation process much easier and quicker, which will overall save you a lot of time.

However, be aware that when recommending a brand which your customer has never heard of, this may raise some questions. Simply solve this by explaining in detail the product advantages and features. You could even have a sample/demo ready in your van.
 

Labour Rates Example

There’s a lot to consider when timing a job, but here’s a price list that was seen recently on a workshop wall (via the Professional Electrician & Installer Magazine).

First hour/call out£50
Per hour thereafter£30/hr
If you watch£60/hr
If you offer advice£75/hr
If you help£85/hr
If you/friend had a go first£95/hr
If you/friend had a go and didn’t say£125/hr
If you say it online and thought it would be easy£150/hr

 
Useful advice: Use Check-a-Trade and Trusted Traders