I happened to get my hands on a price sheet from Wirenut.
2007 price for a 200A panel upgrade is $2196...
I charge around $1300 for the same thing.
Most companies around town are charging $1300 - $1500...
I can make a decent profit on $1300... but, If I can start charging more, I want to know how...
Look, I think $2100 is too much to charge, but Wirenut has a high overhead... I don't have such a big overhead. If I can charge $1500-$1700, I would be very happy... I just want to know how they can do these changes every day for such a high rate... and keep getting customers.
Greg,
You might need to decide what kind of margin you need to stay in business.
You may be only making enough to get by with pricing like that.
If your supplies are $600 for that job and you do all the work yourself, and you like to be paid $25 per hour with your burden is going to be something like $35 per hour. Truck $8 per hour.
What do you need to survive? 40% ? (It isnt less than that, believe me)
600 Material
280 Labor 8 hours at $25 plus $10 Burden
64 Truck
944 Total
$1,573.00 selling price @ 40%
You are basiclly in business for yourself working for $25 per hour. If you can get 40 hours a week. You are doing like 50k a year. Nice hobby!
Should you be making 100k a year?
Do the math at $50 per hour.
600 Material
520 Labor 8 hours at $50 plus $10 burden
64 Truck
1184 Total
$1,973.00 selling price @ 40%
IMHO, If you can get by on $50k a year, you are doing just fine
