Hourly Rate

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ken987

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Being that I am new to contracting, how would one come up with their hourly rate, to use when bidding jobs. In NJ what is about the average hourly rate to charge? For instance if I was to bid a house I would use a per opening price, however I have a mulit room sound system to do, so would I use my hourly rate and estimate the time to install?
 
Re: Hourly Rate

The first step is to identify your hard cost per hour of doing business. Then go from there.
Your cost per hour is no different from a service call or a bid job.
 
Re: Hourly Rate

I let the market set the price. Every year or so, I will call a few of the big service companies to get a price for hourly service calls. This lets me know where I stand relative to the competition. I am sure the others do the same.
 
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