What sort of prices should I be charging?

[Kjb Electrical]

Hi all, I was wondering how much hourly rate I should be charging? I recently quoted a job only to be questioned if I was an electrician due to being too cheap.
I’m thinking of upping my rates but want to keep at an honest and fair price.

 

[Octopus]

That's it - next new client my prices go up! No wonder people jump at my experience - and I thought they were after my wit and repartee!

Why next new client .... from the 1st October for all surely

 

[davesparks]

£20

So once you’ve deducted your overheads, tax, national insurance etc what does that leave you with?
Maybe £13/£14 per hour? Might as well be working on the cards somewhere for that.

 

[Octopus]

That's it - next new client my prices go up! No wonder people jump at my experience - and I thought they were after my wit and repartee!

Why next new client .... Form the 1st October for all surely

 

[Rpa07]

Why next new client .... from the 1st October for all surely

Only because a new client will not know my extremely affordable positive change in their lives, they will get the positive change in their lives with an invoice that keeps me in a new upscaled style of living.
New work for old customers will be amended to the 'new me' but the projects I have going will remain 'good value'.
Glad my mortgage is low!

 

[Nigel]

Controlling your overheads is key.

I charge out at £650 per day for a sparks + mate.

Minimim of a day for most jobs.

Some reactive maintenence jobs I charge at between £60 - £100 per hour depending on things like how quick they want an attendance.

£20 sounds a little low to me.

 

[Deuce]

Surely your rate needs to reflect where you are and how much others are charging?

£20 is nonsense either way. People call a spark as they want to sleep safe at night knowing the work was carried out by a pro, so being that cheap is as likely to lose business as win it. And then when you do win it you're hardly making any money.

I suppose the first move is to check out the rates of other local sparks. If you want to be busy in a hurry, go for a mall but worthwhile undercut on their rates until you're established in the area.

At least the feedback you're getting is positive though, you're about to start earning way more than you apparently thought you would

 

[TJ Anderson]

Surely your rate needs to reflect where you are and how much others are charging?

£20 is nonsense either way. People call a spark as they want to sleep safe at night knowing the work was carried out by a pro, so being that cheap is as likely to lose business as win it. And then when you do win it you're hardly making any money.

I suppose the first move is to check out the rates of other local sparks. If you want to be busy in a hurry, go for a mall but worthwhile undercut on their rates until you're established in the area.

At least the feedback you're getting is positive though, you're about to start earning way more than you apparently thought you would

Sparks are of different abilities. Some can achieve a lot of install or if there is an issue figure out a lot in an hour. Another may achieve no where near as much. Some are a bargain at £40 an hour and some would be terrible value at £10 an hour lol.
In the employed world the not so good ones get it better than they should as they are on hourly the same as the more productive ones.

In the case of self employed it is a much better system. A job is worth what it is worth. A more effective and efficient spark will have a higher rate. That's why price work is so much better for the self employed.

 

[Deuce]

Sparks are of different abilities. Some can achieve a lot of install or if there is an issue figure out a lot in an hour. Another may achieve no where near as much.
In the employed world the not so good ones get it better than they should as they are on hourly the same as the more productive ones.

In the case of self employed it is a much better system. A job is worth what it is worth. A more effective and efficient spark will have a higher rate. That's why price work is so much better for the self employed.

I understand your point. But from a customers point of view, many will compare hourly rates. Unless they know how good you are because of recommendation - but then you pretty much have the job anyway.

This guy has to base his rates on something, and figuring out what others charge in the same area is a big part of that puzzle. If it were me, and I were getting going (which I once was), I would certainly make sure I was at the cheaper end of the range until I had a firmer grasp of what I could justify vs others.

 

[dmxtothemax]

In Australia a cheap electrician during normal working hours would be minimum of 50 pounds .

 

[-Matt]

I recently (a few months ago) went from £25/Hour to £30/Hour with a minimum of £50.

I have not noticed any difference, i am still winning around 80-90% of work.

I am thinking of going to £35/hour next year.

Location will make a difference, south Wales to London will vary massivly.
I am in North Bristol which i would imagine is somewhere in the middle of the price brackets.

Remember an extra £30 a day for each customer is peanuts to the customer, but thats an extra £6K to you.

 

[suffolkspark]

as others have said location makes a big difference, im in Suffolk (obviously) charge £28 per hour, I know 3 other electricians and 3 plumbers who also all charge the same so its kinda what I've settled for to be on par with the others, if you want a few £ more its easier to put it on material and still look cheap on paper hourly

 

[Octopus]

^^ hit, nail and head spring to mind.

Location matters 100% so know your "market "

 

[MDJ]

Hi all, I was wondering how much hourly rate I should be charging? I recently quoted a job only to be questioned if I was an electrician due to being too cheap.
I’m thinking of upping my rates but want to keep at an honest and fair price.

Are you an Electrician? sorry just kidding

 

[Deleted account]

I charge £45 per hour. I'm not telling where I am, as I don't want you lot moving hear diluting the rate.

I used to charge £25 per hour until I met a fellow spark who was charging £40 an hour.
I couldn't believe how busy he was. We did a few jobs together and he said people didn't bat an eye at the price.
Over night I increased my price from £25 to £40 per hour. I nervously did a few quotes not thinking I would get the and amazingly every one accepted the quotes. I went from about £22,000 per year to £30,000 per year over night.
Yes I lost a few customers but do I really want or need customers who are only paying me £25 per hour.
Last year I went up to £45 per hour and will soon be going to £50 per hour.

People will pay.

 

[TJ Anderson]

I charge £45 per hour. I'm not telling where I am, as I don't want you lot moving hear diluting the rate.

I

Paignton Pete lol