How to price?

[ppelec100]

So time and again I will get the odd private job to do, and in the future I will want to start my own company.
I always find myself getting stuck when it comes to giving a price. So I have a few questions regarding this topic:

Q1. What is the average rate per hour in London and surrounding areas? I want to be within the range and be competitive, but don't want to be too low busting my balls for nothing or too high and scare customers off

Q2. Generally, are call out prices higher OR the same as ordinary work (install/maintenance) prices? For instance: if it took you to 1 hour to find a fault, and 1 hour to change a light fitting... would you charge the same price for the fault and the same price for the light change? Or is one normally priced higher?

Q3. When you price a small job, how do you price it? If its a small job where they only want 2 lights changed and you don't want to waste time going to view it (especially if they decline you) .. obviously you work out how long it will take per light fitting X the rate you want. But what happens when you get there take the old fitting off and realise there is no continuous cpc and its a metal light and will take extra time to rectify which you couldn't guess when pricing it. How do you overcome problems like this without shooting yourself in the foot or causing awkwardness between you and the client?

Q4. Would you charge a day rate for being at 1 site location rather than hours x rate? e.g £60 x 9hrs = £540. Would you charge for a day rate of like £350 for the day or something? As its more job security for the day and you aren't spending time running around.

Q5. When it comes to rewires, how do you charge for that? As its a larger job.. price per point? All general points (hobs/showers/lights/sockets) the same price?

Any other info will be great as I often find

 

[davidanthony41]

Can I just be nosy and ask how long you have been an electrician? Specifically how long you have been taking on privates to work up to your price per hour? What was your initial price per hour when starting out if you can remember...?

I don't feel to confident to charge anywhere near that right now, I'm 24 and still have a lot to learn, but eventually will want to get up to that rate.

I’ve been doing it since I left school and I’m 48 now.but I havnt been running my buisness long.don’t forget it’s not like doing a foreigner and your happy with £225 for a foreigner on a Saturday.you have now got to add your tax.when people want a job doing now they will google how much is it to wire two extra sockets.if you do the same the price will come up .just do that and add 20%to cover your tax you’ll be laughing.at the moment I’m probably still picking up jobs more established leave behind but it’s a start.there’s some good electrician on this site who you should speak to about handling bigger jobs juggling about regular incomes etc ,just never overstretch yourself

 

[davidanthony41]

Electrician "No its your problem, because its what I told you when you called"

Never mention a time frame just tell them the cost of the job.how long it takes then is up to you

 

[mattg4321]

If they want you to do the job they’ll have to pay what you tell them you want paying or they’ll have to get someone else.

That’s the reality of it. As long as you’re up front about what you’re going to charge then most are fine. You get the odd numpty questioning prices, but you don’t really want them as customers anyway.

 

[Mike Johnson]

In all of this don't forget fundamentally, they called you, they want you to do something, you don't have to be there, you don't have to respond, you are doing them a favour being there in an emergency.