Bundy mate , you are too cheap

[Dustydazzler]

Too cheap Imo

I am around 30% dearer per point for a chased in re-wire

 

[nicebutdim]

Too cheap Imo

I am around 30% dearer per point for a chased in re-wire

You're also not in Staffordshire.

 

[Pretty Mouth]

You're also not in Staffordshire.

I lived in Stafford 6 years back, for a year or so. Lovely place, but by no means affluent. I'd assume that Bundy is charging the upper limit of what's acceptable up there

 

[Risteard]

I lived in Stafford 6 years back, for a year or so. Lovely place, but by no means affluent. I'd assume that Bundy is charging the upper limit of what's acceptable up there

Perhaps, but I'm in a very socially deprived area and consider some of the prices he mentioned to be too low, and in some cases far too low. For instance, travelling somewhere to change a pendant for £35 - my call-out fee would be double that. Also, adding extra switch points for £20 - that's at least three times too cheap in my view.

But at the end of the day I can't answer for what works for him, so I'll just wear a balaclava attending customers' properties instead.

 

[telectrix]

round here £45 is standard for a local call-out. swapping accessories would be £45 +materials for 1st one, then £20 each for additional ones (+cost of accessory).

 

[swaRRR]

It's the Amazon business model. Be cheaper than everyone else but do more volume, corner the market.

 

[Dustydazzler]

When I started out self deployed I was very cheap for my area , I never lost a job I priced and my hourly rate was very cheap for call-out so much so I had people offer to pay me more than I was billing.
I was frightened to charge more as I was frightened that I might lose a job to a rival electrician or handyman. Which actually backfired in the end as I was so busy I was killing myself to actually finish all the jobs I had booked in each month. I really needed an 8 day week back then.
Now I have the opposite ethos , I price high and am happy to work 4 days sometimes even 3 days per week as the money I charge pays me a decent weeks wages.
Much better this way Imo and better life balance

 

[123]

Perhaps, but I'm in a very socially deprived area and consider some of the prices he mentioned to be too low, and in some cases far too low. For instance, travelling somewhere to change a pendant for £35 - my call-out fee would be double that. Also, adding extra switch points for £20 - that's at least three times too cheap in my view.

But at the end of the day I can't answer for what works for him, so I'll just wear a balaclava attending customers' properties instead.

I wonder how that would go down in many parts of Northern Ireland

 

[LukeD]

When I started out self deployed I was very cheap for my area , I never lost a job I priced and my hourly rate was very cheap for call-out so much so I had people offer to pay me more than I was billing.
I was frightened to charge more as I was frightened that I might lose a job to a rival electrician or handyman. Which actually backfired in the end as I was so busy I was killing myself to actually finish all the jobs I had booked in each month. I really needed an 8 day week back then.
Now I have the opposite ethos , I price high and am happy to work 4 days sometimes even 3 days per week as the money I charge pays me a decent weeks wages.
Much better this way Imo and better life balance

100% too cheap means insecure .

 

[Aaron b]

Perhaps, but I'm in a very socially deprived area and consider some of the prices he mentioned to be too low, and in some cases far too low. For instance, travelling somewhere to change a pendant for £35 - my call-out fee would be double that. Also, adding extra switch points for £20 - that's at least three times too cheap in my view.

But at the end of the day I can't answer for what works for him, so I'll just wear a balaclava attending customers' properties instead.

Perhaps this still applies but the prices are for a rewire not just adding another pendant. For spots for instance, another light would mostly be materials

 

[123]

Perhaps this still applies but the prices are for a rewire not just adding another pendant. For spots for instance, another light would mostly be materials

Watch the video towards the end, he says it's £35 to change a pendant over, that includes going to the job, it's not as part of rewire costings.

 

[Aaron b]

Watch the video towards the end, he says it's £35 to change a pendant over, that includes going to the job, it's not as part of rewire costings.

Ah I see. That probably wouldn't be worth traveling for but I see how it would be good for getting your business out there and if it's on the way to something else I would do it.

 

[nicebutdim]

It's the Amazon business model. Be cheaper than everyone else but do more volume, corner the market.

That philosophy can work well for large operations, but for small (or one man) operators it generally doesn't end well. No greater fool than a busy fool.

 

[Diddy]

Gawd, I price high, Target well healed customers, happy to work 3 days a week. People wanting me to do a job will pay me and all my overheads plus a wage plus profit. I lose lots of jobs on price, I couldn't care less to be honest. Shop at Aldi's or shop at Waitrose customers choice. I don't invent work, I have donated work to good causes (half rewired old girls house while she was in hospital recovering from hip operation...just didn't want to large it up on DIY sos or whatever it's called lol. That was actually all arranged by a taxi driver who used to pick her up weekly and ontop of that he went free of charge every day and got her morning roles...He told me what happened and asked me to have a look and i just did it.

What gets me is some sparks local have told potential customers that I am super expensive and a rip off merchant....That is just ----. They are actually mugs and can't figure out the difference between Self employ, Subbying and PAYE. I NEVER invent work, I give as much cooling off period as the job in hand allows.

 

[Pretty Mouth]

It's great if you can target the high-end market with high-end pricing. Less hours for more money, and your estimating is a doddle. You don't have to be precise because you can absorb any inaccuracies in the high margins.

However, in any area there is a finite amount of this work available. It may be that your competitors have this corner of the market covered already, so you find yourself setting your sights lower. Somewhere like Stafford, the bulk of the market is working class, and they will tend to shop at Aldi rather than Waitrose, not necessarily through choice. (before someone points it out, I know, there is no Waitrose in Stafford)

Funny, the area that I'm in now is affluent, there is a lot of wealth here, yet still I find I have to be competitive. Plenty of ordinary folk that find their money gets swallowed up by the higher cost of living here won't pay as much, but also the rich too. The types that employ a 'lighting designer' to design the garden lighting for their £2 million + house, then shop around for the cheapest quote to install. There's some tight sods around, I can tell you that.