Will You Retire

[ptonsparky]

My company insurance alone was in excess of $5K. It was 4 employees though.

 

[hillbilly1]

For the reasons you've stated, my company absolutely will not touch resi work. Unless it's the boss' house.

The only residential I do, is for the owners of my large commercial and industrial business’s. Residential customers generally don’t understand what it costs to run a business, and think what you charge is all profit!

 

[AC\DC]

Pay your home off asap, if you have a 30 year loan even in the low 3% you’re bassicly paying for another home by the time you pay it off.
Stress is cut down from lack of payments. So you can focus on other projects

This guy helps a lot and you can call in for advised think I have called about three times

Old Bible quote” borrower is the slave to the lender” not verbatim but the premise.

 

[Seven-Delta-FortyOne]

I agree with ya. I think part of it is our area, it's pretty cheap all around here in upstate NY. Another thing, I suspect most of these people who say they charge $150/hr , that is for certain types of work . Service work sure. Commercial work, more likely. I doubt you can do a larger resi job and get that rate or bid it with that labor rate. I also don't get these overhead numbers. $45/hr just for overhead?? My overhead is probably like $2k/yr or $1.33/hr, and that's maintaining 2 state licenses and three state LLCs.

I think it is very dependent on location. Which is why many forums do not allow pricing discussions.

As I said, labor is high as a hippie at a music festival here. 20 years ago electricians were at $65/hour. PW/Union rate for electricians is $85/hour. No has been close to $45 for decades, and that is verifiable if you don’t believe me.

I personally am under contract on a commercial T&M project for tenant improvements where I’m charging myself, as lead/super and most of the labor, at $160/hour. I have invoiced multiple times, and been paid. You don’t have to believe me, that’s not important to me. But it is fact.

I do not know the state of new residential electrical here. They is very little new construction going on, and I’m not currently a sub. But when I bid remodels and additions, I obviously do the electrical in house, and that’s what it’s bid at. My plumber is even higher than me.

As far as OH, once again, it will vary greatly among different businesses. I think it’s great that some have only $2k/year, although I suspect that some things are not being counted hat should, namely fuel and vehicle.

I met with my tax man yesterday, so again, this is fact, whether you want to believe it or not, but my expenses for last year were $75K

I was over $20K for fuel and truck maintenance, and I don’t have a truck payment. It’s almost $2K/year just for commercial auto insurance and registration with the weight sticker.

I also have a couple other trucks and pieces of equipment, which obviously not everyone has.