Pricing models?

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Renix Electric

Renix Electric

Member
Location
FortLauderdale
Occupation
Electrician
Hello everyone, I am a new service company in Fort Lauderdale and I'm having difficulties with prices. Could someone share a price model for me to guide me please???
 
Renix Electric said:
Hello everyone, I am a new service company in Fort Lauderdale and I'm having difficulties with prices. Could someone share a price model for me to guide me please???
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What kind of service do you provide?

Are you wanting to know an hourly rate to charge, or are you trying to offer flat rate and/or piece pricing?

When you say you're having difficulties with pricing, do you mean you've already done some work and you're losing money? Or are customers complaining about prices?

Really not near enough info to offer any real help.
Get specific
 
James L said:
What kind of service do you provide?

Are you wanting to know an hourly rate to charge, or are you trying to offer flat rate and/or piece pricing?

When you say you're having difficulties with pricing, do you mean you've already done some work and you're losing money? Or are customers complaining about prices?

Really not near enough info to offer any real help.
Get specific
Click to expand...
Good morning !!! thank you very much for answering me. I provide services like (recesses light installation, kitchen remodeling,Outdoor lights,oudoor outlets,Ev charger, fans installation, panel change,) etc. Right now I am charging flat rate, but I would like to know what price model is used for services companies ? I am not losing money but I do not know if I am making the right profit, and sometimes customers complain about price. I appreciate your help!!! thank you.
 
Renix Electric said:
Good morning !!! thank you very much for answering me. I provide services like (recesses light installation, kitchen remodeling,Outdoor lights,oudoor outlets,Ev charger, fans installation, panel change,) etc. Right now I am charging flat rate, but I would like to know what price model is used for services companies ? I am not losing money but I do not know if I am making the right profit, and sometimes customers complain about price. I appreciate your help!!! thank you.
Click to expand...
Some people do flat rate pricing. I like it a lot better because then I don't have to reveal my hourly rate. One of my best money-makers is recessed lighting. I charge $105 and I can generally add about 2 or 3 per hour. If I add 10 can lights in 4 hours and I charge $1,050, people seem to be okay with the price. I just made $850 in a half day

But if I tell them my rate is $200 per hour oh, they're going to have a stroke.

Same with stuff like changing receptacles and switches. If I tell somebody I need $15 per opening they are a most times okay with it. But I can change 15-20 in an hour. If I tell them I need $250 per hour to change there outlets and switches, they don't want to do it.

But there's one thing you said which tells me you're probably on the right track. If they complain about the price but they still hire you, you're doing something right
 
Customers will complain about your prices no matter what.

The key is whether they comment favorably about you to their friends and whether they call you back the next time they need some work.
 
Renix Electric said:
I am a quite close to your prices, I charge 100 per recesses lights but I include the lights and the dimmer switch as well. Thank you very much.
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That $105 includes the trim, too.

Then I charge $80 if I need to add a switch, and another $55 to upgrade that switch to a dimmer.

Some of your pricing structure comes from confidence, and that can take time.

It took me quite a while to get my prices where I needed them, too. You'll look back and realize you've paid some dues along the way.

Glad to see you're doing ok. I've seen too many guys working for dirt
 
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