Basement rewire pricing

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Trovmar

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Hi guy's maybe you can help me. I am about to bid on a full basement rewire with a kitchen , bathroom , two bedrooms , living room , dining etc. The walls and celing are open , and the basement is being framed out as we speak. Being that i just recently recieved my licence and i am a new electrical contractor i don't want to either short myself or price my self out of a job. I was taught to price my team (mechanic and helper) at 130.00 an hour, but the GC is telling me that the labor rate changes when the walls are open and the material is already there. Also is there a set price for switches , recepticals , recessed lighting fixtures and fans?

Thank you
 
Trovar, no one can really tell you how to price this esp. since most are not from your area. I would try and make a list of how much material is involved. I would then come up with a percentage markup for the material. Then est. how long it will take you. The first few are difficult but it gets easier. I would make sure you have a fudge factor in there and I would bet it will take a lot longer than you first figure.
 
stickboy1375 said:
Because you don't make any money doing T&M...
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I totally disgree with you. T & M is about all I do and I am so rich it is unbelieveable. Seriously I do just fine.
 
I'm not in business for myself, but on every job I do, I always keep track of how long it took me to do a certain task and how long I thought it would take me, I'm trying to collect this data now so if/when I make my move i'll be somewhat ahead of the game.
 
Dennis Alwon said:
I totally disgree with you. T & M is about all I do and I am so rich it is unbelieveable. Seriously I do just fine.
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Dennis, if you had to cut in 15 old work boxes would you (A) do it by the hour @ 75 dollars an hour or (B) 75 dollars per box?
 
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Basement rewire pricing

Thanks guy's i appreciate the help. One factor i forgot is that the GC is my nieghbor and gave me the job. He probably wants me to come in with a low price so he can tack on some extra cost for him.
 
Trovmar said:
Thanks guy's i appreciate the help. One factor i forgot is that the GC is my nieghbor and gave me the job. He probably wants me to come in with a low price so he can tack on some extra cost for him.
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Now your think'n, "Business"
 
Trovmar said:
I was taught to price my team (mechanic and helper) at 130.00 an hour, but the GC is telling me that the labor rate changes when the walls are open and the material is already there.
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walk next door, smack your GC neighbor upside the head, and tell him I said he's an idiot...

the labor rate doesn't change, the labor efficiency does...so, you still need to make $X/hr, but new work allows you to get more done in that hour than old work.

as for set rates...take your pick...illegal labor, under the table rates or honest pay, taxes and benefits rates...
 
Trovmar said:
He probably wants me to come in with a low price so he can tack on some extra cost for him.
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He already has the extra - your markup on material. Next he'll look to pay you like an employee instead of a contractor.
 
Dennis Alwon said:
I totally disgree with you. Seriously I do just fine.
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Most of us went into contracting, to do better then just fine, and your idea of rich may not be the same as someone else.
 
cadpoint said:
Now your think'n, "Business"
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That is insane, he should lower his price so the GC can increase his. ya that makes a lot os sense.

I wonder if this GC has a permit for the job, they were having problems in that area with people finishing basements without zoning and building permits, also be sure to get a written contract with all the terms spelled out, especally the payment terms.

Good Luck!
 
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Play on, Kid ...

Play on, Kid ...

If, I'd of said, Business-wise, would the reply be different!
Word Play, Sure!
Its a Game - Business, IS, check, Check mate, the Kids in Da Game, Play on Kid...

I don't have any problem with market value, or Supply and Demand, in Business, their in the Game, the man can see a curve ball!

I think the man knows the Game, and I have no problems with anything said posting, well maybe snip-its of posts to give a price...

Is the Kid hungry, well whatever, gezz ...
 
satcom said:
Most of us went into contracting, to do better then just fine, and your idea of rich may not be the same as someone else.
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The comment about rich wwas a joke. You are absolutely right that everyones expectations are different. Finding happiness is all that matters. If I am happy making $10/hr... so be it. My comment to the op was no one could tell him what he should charge. He has to find this himself. To say to someone starting out that T&M is a bad idea is unfair. He could bid the job too low and lose money. You don't lose money on T & M. This is a very good way to start so you can get an idea of what you need to charge.
 
Dennis Alwon said:
You don't lose money on T & M. This is a very good way to start so you can get an idea of what you need to charge.
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I love T & M. If I could I would work only T & M. It's impossible to lose money unless you don't get paid.
 
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