Your price is way high

[cadpoint]

I only read the first ten post of this thread, why is it so surprising to anyone that a client is like this !

Why doesn't the home owner realize, how major this really is !
Granted they might or might not want to go with "work", OK but \at some price, well .... maybe.

It's not the aspect of what we do at a price but what they need to pay for to have something new! It's not a mixed bag the price is a price!

If you'd compare it to a HVAC refit or bust or a busted pipe or a plumbing upfit, sink, kitchen work, etc... etc... where would we sit in respects to paying the price for those items.

Someone might pay for something they want, and will argue for something they need! Again it gets to me, reading these type threads.

This always gets to me! :?

 

[wptski]

See that's the problem with this country, we don't teach our kids math.

The time frame has no bearing.
Should I make a higher % of profit if I can't generate work? And a lower % of profit because I can sell work?

Are you a riddler? Sounds like a simple question, how much per hour do you make?

 

[emahler]

Are you a riddler? Sounds like a simple question, how much per hour do you make?

Some days $100, some days $2000. That's why dollar amounts don't matter. Because those $2000/hr days cost me more.

That's why I worry about percentages. What's the sense of generating $10k in a day, if there is no profit?

Though the sarcasm, due to you inability to follow along, is duly noted.

 

[bradleyelectric]

Some days $100, some days $2000. That's why dollar amounts don't matter. Because those $2000/hr days cost me more.

That's why I worry about percentages. What's the sense of generating $10k in a day, if there is no profit?

Though the sarcasm, due to you inability to follow along, is duly noted.

Look, you need to just spill it. You make $2000/ hr. There is no cost to making this much. Once you are an electrical contractor all you have to worry about it how much you can fleece your customers for. That is what people want to believe, and perception is reality. No one wants to face the fact that the guys that are charging the most are shooting at a goal of 16% net profit.

Some days you need to make a little more in a day to make up for the days you don't. To some people it is all about what are you making this moment. Truth is this moment isn't the long term goal. It isn't just the customer that is the problem with this perception. The guys that think they can live off making just enough on the good days are too.

 

[wptski]

Some days $100, some days $2000. That's why dollar amounts don't matter. Because those $2000/hr days cost me more.

That's why I worry about percentages. What's the sense of generating $10k in a day, if there is no profit?

Though the sarcasm, due to you inability to follow along, is duly noted.

I'm not sarcastic, just asking a question. Maybe another "way" to answer the question is what's on Line 37 of your 2008 1040 form? I don't expect an answer.

I retired on 4/1/08, my pension and social security totals $3526/month right now which is actually several hundred more than when I was working.

 

[emahler]

I'm not sarcastic, just asking a question. Maybe another "way" to answer the question is what's on Line 37 of your 2008 1040 form? I don't expect an answer.

I retired on 4/1/08, my pension and social security totals $3526/month right now which is actually several hundred more than when I was working.

my point being...just because I might have a $10,000 day at 20% NET, the next day it could get eaten up by a $100 day with -30% profit...

that's why the $ amounts do not matter...

you originally asked:

That could be, so what do you expect to make in profit per hour?

and the truth is it doesn't matter...what matters is the percentage made over the course of a week, month or year...not a couple of hours in one day...

 

[wptski]

my point being...just because I might have a $10,000 day at 20% NET, the next day it could get eaten up by a $100 day with -30% profit...

that's why the $ amounts do not matter...

you originally asked:
and the truth is it doesn't matter...what matters is the percentage made over the course of a week, month or year...not a couple of hours in one day...

Answers like this make me sorry that I even posted in this thread! I give up.

 

[emahler]

Answers like this make me sorry that I even posted in this thread! I give up.

i'm still trying to understand your point....

 

[bradleyelectric]

i'm still trying to understand your point....

His point, I believe, is he was an hourly employee and doesn't know what it means to not be. He believes that if it takes you 6 hours to net $800 than you make $125/hr. The fact that if you do this type of work for a month and end up with a profit at the end of the month of 8% is out of grasp. It's a riddle that is unsolvable. Someone was there 6 hours/ $800= $125/hr That's what you feel you should make an hour. That's what he wants to hear. What you end up with as profit is an arbitrary figure that is meaningless. The fact that you would be elated if you made wages + $41.91 for the 6 hours someone was there is beyond his understanding.

Correct me if I'm wrong.

 

[hardworkingstiff]

my point being...just because I might have a $10,000 day at 20% NET, the next day it could get eaten up by a $100 day with -30% profit...

that's why the $ amounts do not matter...

you originally asked:
and the truth is it doesn't matter...what matters is the percentage made over the course of a week, month or year...not a couple of hours in one day...

I was told Ben Franklin said "Take care of the pennies and the dollars take care of themselves".

 

[Rockyd]

100A service sight unseen, from "package" to installed service, labor only? Sight unseen - maybe $800 to $1200. Think about what your time is worth....already gave away two hours just talking to this "character", don't let the HO set your rates, your the EC. Walk if you need to. Your the first electrician who has even shown interest in two years, tomorrow remind him the price can only go up.

 

[emahler]

there should be a line item for your service pricing for "added value/never gonna get a chance to change this service again"

 

[Sparky555]

I don't understand why contractors low-ball services. It's one of the few things that homeowners and handymen rarely do.

 

[growler]

I don't understand why contractors low-ball services. It's one of the few things that homeowners and handymen rarely do.

Most contractors don't low ball service up-grades only a few that haven't learned how business works. In this area I can pretty much tell what the quoted prices are if I know which companies bid the job. All the real service companies start out at about 2K even on a 100 Amp and go up from there. Then you get the guys that got their license 6 months ago that go out there and bid $800-$1000 because they think they need to quote it cheap.

The longer a company has been in business the higher the price so either they have learned something or got greedy ( I think they learned something). :grin:


I did a couple of cheap up-grades when I first started because I didn't calculate the actual cost of the installation. I only used materials and labor and forgot the overhead ( big mistake ). It didn't take long to figure out why others were charging more.

 

[Ohmy]

$1200 seems really low...when we say service change does that mean "new panel, raiser, meter, breakers, grounding system, smokes, GFI's, permit, etc." or something just a meter?

 

[JohnJ0906]

$1200 seems really low...when we say service change does that mean "new panel, raiser, meter, breakers, grounding system, smokes, GFI's, permit, etc." or something just a meter?

I wouldn't consider smokes and GFCIs to be part of a service change, although those are always good items to upsell at the same time.

 

[Ohmy]

I wouldn't consider smokes and GFCIs to be part of a service change, although those are always good items to upsell at the same time.

Most jurisdictions in our area (Atlanta) are requiring smokes and GFI's if you are changing the service....of course, everywhere is different...even our area.